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

6 Months Ended

Jun. 30, 2014

The components of securities owned and securities sold, but not yet purchased at June 30, 2014 and December 31, 2013 were as follows:



	Securities Owned		Securities Sold, But Not Yet Purchased
June 30, 2014
Certificates of deposit	$	3	$	—
Debt securities	1,491		(99		)
U.S. Treasury notes	3		(200		)
Common stock and warrants	1,019		(54		)
Restricted common stock and warrants	922		—
Other investments	1,049		—
Total	$	4,487	$	(353	)

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 June 30, 2014:



Securities owned, at fair value	Level 1		Level 2		Level 3		Total
Debt securities	$	—	$	1,491	—		$	1,491
Certificates of deposit	3		—		—		3
U.S. Treasury notes	—		3		—		3
Common stock and warrants	1,019		922		—		1,941
Other investments	—		1,049		—		1,049
Total	$	1,022	$	3,465	$	—	$	4,487



Securities sold, but not yet purchased, at fair value	Level 1			Level 2			Level 3		Total
Debt securities	$	—		$	(99	)	$	—	$	(99	)
Certificates of deposit	—			—			—		—
U.S. Treasury notes	—			(200		)	—		(200		)
Common stock and warrants	(54		)	—			—		(54		)
Total	$	(54	)	$	(299	)	$	—	$	(353	)

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	)