Securities Owned and Securities Sold, But Not Yet Purchased (Tables)

3 Months Ended

Mar. 31, 2014

The components of securities owned and securities sold, but not yet purchased at March 31, 2014 and December 31, 2013 were as follows:



	Securities Owned		Securities Sold, But Not Yet Purchased
March 31, 2014
Certificates of deposit	$	113	$	(21	)
Debt securities	1,257		(15		)
U.S. Treasury notes	4		(50		)
Common stock and warrants	3,195		(5,924		)
Restricted common stock and warrants	862		—
Other investments	1,286		—
Total	$	6,717	$	(6,010	)

December 31, 2013
Certificates of deposit	$	24	$	—
Debt securities	1,402		(46		)
U.S. Treasury notes	1		—
Common stock and warrants	689		(33		)
Restricted common stock and warrants	725		(4		)
Other investments	1,948		—
Total	$	4,789	$	(83	)

Equity Securities

Securities are carried at fair value and classified as follows:

As of March 31, 2014:



Securities owned, at fair value	Level 1		Level 2		Level 3		Total
Debt securities	$	—	$	1,257	—		$	1,257
Certificates of deposit	113		—		—		113
U.S. Treasury notes	—		4		—		4
Common stock and warrants	3,195		862		—		4,057
Other investments	—		1,286		—		1,286
Total	$	3,308	$	3,409	$	—	$	6,717



Securities sold, but not yet purchased, at fair value	Level 1			Level 2			Level 3		Total
Debt securities	$	—		$	(15	)	$	—	$	(15	)
Certificates of deposit	(21		)	—			—		(21		)
U.S. Treasury notes	—			(50		)	—		(50		)
Common stock and warrants	(5,924		)	—			—		(5,924		)
Total	$	(5,945	)	$	(65	)	$	—	$	(6,010	)

As of December 31, 2013:



Securities owned, at fair value	Level 1		Level 2		Level 3		Total
Debt securities	$	—	$	1,402	$	—	$	1,402
Certificates of deposit	24		—		—		24
U.S. Treasury notes	—		1		—		1
Common stock and warrants	689		725		—		1,414
Other investments	—		1,948		—		1,948
Total	$	713	$	4,076	$	—	$	4,789



Securities sold, but not yet purchased, at fair value	Level 1			Level 2			Level 3		Total
Debt securities	$	—		$	(46	)	$	—	$	(46	)
Common stock and warrants	(33		)	(4		)	—		(37		)
Total	$	(33	)	$	(50	)	$	—	$	(83	)