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Investment Securities | 9 Months Ended
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Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Investment Securities | Note 3. Investment Securities The disclosures below include details of Artisan’s investments, excluding money market funds and consolidated investment products. Investments held by consolidated investment products are described in Note 6, “Variable Interest Entities and Consolidated Investment Products.”
| As of September 30, 2023 |  | As of December 31, 2022
Investments in equity securities | $ | 128,822 |  |  | $ | 76,156 |
Investments in equity securities accounted for under the equity method | 10,808 |  |  | 9,259 |
Total investment securities | $ | 139,630 |  |  | $ | 85,415 |
Artisan’s investments in equity securities consist of investments in Artisan Funds, Artisan Global Funds and Artisan Private Funds. As of September 30, 2023 and December 31, 2022, Artisan held investment securities of $96.6 million and $63.3 million, respectively, related to funded long-term incentive compensation plans (excluding investments in consolidated investment products). Unrealized gain (loss) related to investment securities held at the end of the periods indicated below were as follows:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Unrealized gain (loss) on investment securities held at the end of the period | $ | (3,901) |  |  | $ | (6,675) |  |  | $ | 6,458 |  |  | $ | (24,145) |
Other net investment gain (loss) is presented within the non-operating income (expense) section of the Consolidated Statements of Operations. The components of other net investment gain (loss) are as follows:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
| 2023 |  | 2022 |  | 2023 |  | 2022
Net investment gain (loss) on nonconsolidated seed investments | $ | 214 |  |  | $ | (1,649) |  |  | $ | 1,424 |  |  | $ | (4,585) |
Net investment gain (loss) on franchise capital investments | (4,454) |  |  | (3,987) |  |  | 6,127 |  |  | (19,192) |
Interest income on cash and cash equivalents and other | 2,088 |  |  | 73 |  |  | 3,778 |  |  | 48 |
Other net investment gain (loss) | $ | (2,152) |  |  | $ | (5,563) |  |  | $ | 11,329 |  |  | $ | (23,729) |

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