Note 4 - Investments in Securities

12 Months Ended

Dec. 31, 2024

4. Investments in Securities

Investments in securities at December 31, 2024 and 2023, consisted of the following (in thousands):

	*December 31, 2024*				*December 31, 2023*
	*Cost*		*Fair Value*		*Cost*		*Fair Value*
Debt - Trading Securities:
U.S. Treasury Bills	$	66,721	$	68,299	$	88,300	$	89,155
Equity Securities:
Common stocks		173,436		196,557		198,269		191,346
Mutual funds		686		1,315		566		1,186
Other investments		1,483		1,168		5,166		4,051
Total investments in equity securities		175,605		199,040		204,001		196,583
Total investments in securities	$	242,326	$	267,339	$	292,301	$	285,738

Securities sold, not yet purchased at December 31, 2024 and 2023, consisted of the following (in thousands):

	*December 31, 2024*				*December 31, 2023*
	*Cost*		*Fair Value*		*Cost*		*Fair Value*

Common stocks	$	8,116	$	8,236	$	5,227	$	5,035
Other investments		41		200		631		883
Total securities sold, not yet purchased	$	8,157	$	8,436	$	5,858	$	5,918

Investments in affiliated registered investment companies at December 31, 2024 and 2023 consisted of the following (in thousands):

	*December 31, 2024*				*December 31, 2023*
	*Cost*		*Fair Value*		*Cost*		*Fair Value*

Closed-end funds	$	67,215	$	83,705	$	39,680	$	53,048
Mutual funds		54,698		81,810		50,136		73,703
Total investments in affiliated registered investment companies	$	121,913	$	165,515	$	89,816	$	126,751

Associated Capital Group, Inc. 10-K