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Investments | 9 Months Ended
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Sep. 30, 2021
Schedule of Investments [Abstract] |
Investments | Investments Investments consist primarily of investments in the Company's sponsored products. The Company's investments, excluding the assets of consolidated investment products ("CIP") discussed in Note 16, at September 30, 2021 and December 31, 2020 were as follows:
(in thousands) | September 30, 2021 |  | December 31, 2020
Investment securities - fair value | $ | 78,143 |  |  | $ | 39,990 |
Equity method investments (1) | 12,914 |  |  | 12,676 |
Nonqualified retirement plan assets | 12,378 |  |  | 10,612 |
Other investments | 2,197 |  |  | 1,666 |
Total investments | $ | 105,632 |  |  | $ | 64,944 |
(1) The Company's equity method investments are valued on a three-month lag based upon the availability of financial information. Investment Securities - fair value Investment securities - fair value consist of investments in the Company's sponsored funds, separately managed accounts and trading debt securities. The composition of the Company’s investment securities - fair value was as follows:
| September 30, 2021 |  | December 31, 2020
(in thousands) | Cost |  | Fair Value |  | Cost |  | Fair Value
Investment Securities - fair value |  |  |  |  |  |  |
Sponsored funds | $ | 59,342 |  |  | $ | 64,691 |  |  | $ | 22,378 |  |  | $ | 25,909 |
Equity securities | 10,362 |  |  | 13,446 |  |  | 9,614 |  |  | 14,078 |
Debt securities | 7 |  |  | 6 |  |  | 7 |  |  | 3 |
Total investment securities - fair value | $ | 69,711 |  |  | $ | 78,143 |  |  | $ | 31,999 |  |  | $ | 39,990 |
For the three and nine months ended September 30, 2021, the Company recognized realized gains of $0.2 million and $2.0 million, respectively, on the sale of its investment securities - fair value. For the three and nine months ended September 30, 2020, the Company recognized realized gains of $4.5 million and $4.2 million, respectively, on the sale of its investment securities - fair value.

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