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

3 Months Ended

Mar. 31, 2015

The components of securities owned and securities sold, but not yet purchased at March 31, 2015 and December 31, 2014 were as follows:



	Securities Owned		Securities Sold, But Not Yet Purchased
March 31, 2015
Certificates of deposit	$	481	$	(11	)
Debt securities	1,962		(108		)
U.S. Treasury notes	103		(201		)
Common stock and warrants	661		(1		)
Restricted common stock and warrants	871		—
Other investments	908		—
Total	$	4,986	$	(321	)

December 31, 2014
Certificates of deposit	$	465	$	—
Debt securities	1,526		(45		)
U.S. Treasury notes	102		(151		)
Common stock and warrants	1,981		(34		)
Restricted common stock and warrants	875		—
Other investments	961		—
Total	$	5,910	$	(230	)

Securities are carried at fair value and classified as follows:

As of March 31, 2015:



Securities owned, at fair value	Level 1		Level 2		Level 3		Total
Certificates of deposit	$	481	$	—	$	—	$	481
Debt securities	—		1,962		—		1,962
U.S. Treasury notes	—		103		—		103
Common stock and warrants	661		871		—		1,532
Other investments	—		908		—		908
Total	$	1,142	$	3,844	$	—	$	4,986



Securities sold, but not yet purchased, at fair value	Level 1			Level 2			Level 3		Total
Certificates of deposit	$	(11	)	$	—		$	—	$	(11	)
Debt securities	—			(108		)	—		(108		)
U.S. Treasury notes	—			(201		)	—		(201		)
Common stock and warrants	(1		)	—			—		(1		)
Total	$	(12	)	$	(309	)	$	—	$	(321	)

As of December 31, 2014:



Securities owned, at fair value	Level 1		Level 2		Level 3		Total
Certificates of deposit	$	465	—		$	—	$	465
Debt securities	—		1,526		—		1,526
U.S. Treasury notes	—		102		—		102
Common stock and warrants	1,981		875		—		2,856
Other investments	—		961		—		961
Total	$	2,446	$	3,464	$	—	$	5,910



Securities sold, but not yet purchased, at fair value	Level 1			Level 2			Level 3		Total
Debt securities	$	—		$	(45	)	$	—	$	(45	)
U.S. Treasury notes	—			(151		)			(151		)
Common stock and warrants	(34		)	—			—		(34		)
Total	$	(34	)	$	(196	)	$	—	$	(230	)