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Marketable Securities | 12 Months Ended
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Dec. 31, 2023
Marketable Securities [Abstract] |
Marketable Securities | Marketable Securities The Company's marketable securities include investments in money market funds and commercial paper classified as cash equivalents, available-for-sale debt securities, investments in SEI-sponsored and non-SEI-sponsored mutual funds, equities, investments in funds sponsored by LSV and securities owned by SIDCO. Cash Equivalents The Company's investments in money market funds and commercial paper classified as cash equivalents had a fair value of $565,588 and $450,240 at December 31, 2023 and 2022, respectively. There were no material unrealized or realized gains or losses from these investments during 2023 and 2022. Available For Sale and Equity Securities Available For Sale and Equity Securities on the accompanying Consolidated Balance Sheets consist of:
|  | At December 31, 2023
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
Available for sale debt securities |  | $ | 127,681 |  |  | $ | — |  |  | $ | (8,929) |  |  | $ | 118,752 |
SEI-sponsored mutual funds |  | 30,427 |  |  | 818 |  |  | (19) |  |  | 31,226 |
Equities and other mutual funds |  | 5,301 |  |  | 134 |  |  | — |  |  | 5,435 |
|  | $ | 163,409 |  |  | $ | 952 |  |  | $ | (8,948) |  |  | $ | 155,413 |
|  | At December 31, 2022
|  | Cost |  | Gross Unrealized Gains |  | Gross Unrealized (Losses) |  | Fair Value
Available for sale debt securities |  | $ | 129,372 |  |  | $ | — |  |  | $ | (12,071) |  |  | $ | 117,301 |
SEI-sponsored mutual funds |  | 6,207 |  |  | — |  |  | (176) |  |  | 6,031 |
Equities and other mutual funds |  | 5,026 |  |  | — |  |  | (157) |  |  | 4,869 |
|  | $ | 140,605 |  |  | $ | — |  |  | $ | (12,404) |  |  | $ | 128,201 |
Net unrealized holding losses at December 31, 2023 of the Company's available-for-sale debt securities were $6,875 (net of income tax benefit of $2,054). Net unrealized losses at December 31, 2022 of the Company's available-for-sale debt securities were $9,294 (net of income tax expense of $2,777). These unrealized losses are associated with the Company’s investments in mortgage-backed securities issued by GNMA and were caused by interest rate increases (See Note 4). The contractual cash flows of these securities are guaranteed by an agency of the U.S. government. Accordingly, it is expected that the securities would not be settled at a price less than the amortized cost bases of the Company's investments. The Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases. These net unrealized gains and losses are reported as a separate component of Accumulated other comprehensive loss on the accompanying Consolidated Balance Sheets. The following tables provide the scheduled maturities of the Company's available-for-sale debt securities:
|  | At December 31, 2023
|  | Cost |  | Fair Value
Within one year |  | $ | — |  |  | $ | — |
After one year through five years |  | 5,679 |  |  | 5,035 |
After 5 years through 10 years |  | 31,162 |  |  | 28,084 |
After 10 years |  | 90,840 |  |  | 85,633 |
|  | $ | 127,681 |  |  | $ | 118,752 |
|  | At December 31, 2022
|  | Cost |  | Fair Value
Within one year |  | $ | 10 |  |  | $ | 9 |
After one year through five years |  | 4,299 |  |  | 3,800 |
After 5 years through 10 years |  | 21,398 |  |  | 18,929 |
After 10 years |  | 103,665 |  |  | 94,563 |
|  | $ | 129,372 |  |  | $ | 117,301 |
There were gross realized losses of $215, $602 and $1,160 from available-for-sale debt securities during 2023, 2022 and 2021, respectively. There were no gross realized gains from available-for-sale debt securities during 2023, 2022 and 2021. Realized losses from available-for-sale debt securities, including amounts reclassified from accumulated comprehensive loss, are reflected in Net gain (loss) from investments on the accompanying Consolidated Statements of Operations. There were gross realized gains of $661 and gross realized losses of $349 from mutual funds and equities during 2023. In 2022, there were gross realized gains of $263 and gross realized losses of $773 from mutual funds and equities. In 2021, there were gross realized gains of $741 and gross realized losses of $72 from mutual funds and equities. Gains and losses from mutual funds and equities are reflected in Net gain (loss) from investments on the accompanying Consolidated Statements of Operations. Investments in Affiliated Funds The Company has an investment in funds sponsored by LSV. The Company records this investment on the accompanying Consolidated Balance Sheets at fair value. Unrealized gains and losses from the change in fair value of these funds are recognized in Net gain (loss) from investments on the accompanying Consolidated Statements of Operations. The funds had a fair value of $7,316 and $6,366 at December 31, 2023 and 2022, respectively. The Company recognized gains of $950 and $750 during 2023 and 2021, respectively, and losses of $550 during 2022 from the change in fair value of the funds. Securities Owned The Company’s broker-dealer subsidiary, SIDCO, has investments in U.S. government agency securities with maturity dates less than one year. These investments are reflected as Securities owned on the accompanying Consolidated Balance Sheets. Due to specialized accounting practices applicable to investments by broker-dealers, the securities are reported at fair value and changes in fair value are recorded in current period earnings. The securities had a fair value of $31,334 and $32,148 at December 31, 2023 and 2022, respectively. There were no material net gains or losses from the change in fair value of the securities during 2023, 2022 and 2021.

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