Fair Value Measurements

9 Months Ended

Sep. 30, 2025

The fair value of the Company’s financial assets and liabilities is determined in accordance with the fair value hierarchy. The pricing policies and procedures applied to the Company's Level 1 and Level 2 financial assets during the nine months ended September 30, 2025 were consistent with those as described in the Company's Annual Report on Form 10-K at December 31, 2024. Level 1 financial assets and liabilities of the Company and consolidated VIEs consist mainly of equity securities and investments in open-end and closed-end investment products that are quoted daily. Level 2 financial assets consist of Government National Mortgage Association (GNMA) mortgage-backed securities held by the Company's wholly-owned limited purpose federal thrift subsidiary, SEI Private Trust Company (SPTC), and Federal Home Loan Bank (FHLB) and other U.S. government agency short-term notes held by SIDCO. The financial assets held by SIDCO were purchased as part of a cash management program requiring only short term, top-tier investment grade government and corporate securities. The financial assets held by SPTC are debt securities issued by GNMA and are backed by the full faith and credit of the U.S. government. These securities were purchased for the sole purpose of satisfying applicable regulatory requirements and have maturity dates which range from 2027 to 2041. The Company's Level 3 financial liabilities at September 30, 2025 and December 31, 2024 consist entirely of the estimated fair value of the contingent

considerations resulting from business acquisitions (See Note 12). The fair value of the contingent considerations were determined using a Monte-Carlo simulation model. There were no transfers of financial assets between levels within the fair value hierarchy during the nine months ended September 30, 2025.

The fair value of the Company's investments in funds sponsored by LSV is measured using the net asset value per share (NAV) as a practical expedient. The NAVs of the funds are calculated by the funds' independent custodian and are derived from the fair values of the underlying investments as of the reporting date. The investment funds sponsored by LSV allow for investor redemptions at the end of each calendar month. The investments measured using the NAV as a practical expedient have not been classified in the fair value hierarchy but are presented in the tables below to permit reconciliation to the amounts presented on the accompanying Consolidated Balance Sheets.

The fair value of certain financial assets and liabilities of the Company and consolidated VIEs was determined using the following inputs:


	At September 30, 2025
	Level 1		Level 2		Level 3		NAV as a Practical Expedient		Total
Financial Assets
SEI Investments Company
Equity securities	$	53,494	$	—	$	—	$	—	$	53,494
Available-for-sale debt securities	—		167,821		—		—		167,821
Securities owned	—		31,242		—		—		31,242
Investment funds sponsored by LSV	—		—		—		10,522		10,522
Investments in limited partnership funds	—		—		—		865		865
Total financial assets of SEI Investments Company	53,494		199,063		—		11,387		263,944
Consolidated VIEs
Equity securities	106,044		—		—		—		106,044
Total financial assets of consolidated VIEs	106,044		—		—		—		106,044
Total financial assets measured at fair value	$	159,538	$	199,063	$	—	$	11,387	$	369,988

Financial Liabilities
SEI Investments Company
Contingent considerations	$	—	$	—	$	9,252	$	—	$	9,252
Total financial liabilities of SEI Investments Company	—		—		9,252		—		9,252
Consolidated VIEs
Securities sold short	100,466		—		—		—		100,466
Total financial liabilities of consolidated VIEs	100,466		—		—		—		100,466
Total financial liabilities measured at fair value	$	100,466	$	—	$	9,252	$	—	$	109,718


	At December 31, 2024
	Level 1		Level 2		Level 3		NAV as a Practical Expedient		Total
Financial Assets
SEI Investments Company
Equity securities	$	40,530	$	—	$	—	$	—	$	40,530
Available-for-sale debt securities	—		143,126		—		—		143,126
Securities owned	—		29,583		—		—		29,583
Investment funds sponsored by LSV	—		—		—		8,129		8,129
Total financial assets measured at fair value	$	40,530	$	172,709	$	—	$	8,129	$	221,368

Financial Liabilities
SEI Investments Company
Contingent considerations	$	—	$	—	$	14,355	$	—	$	14,355
Total financial liabilities measured at fair value	$	—	$	—	$	14,355	$	—	$	14,355