<SEC-DOCUMENT>0001193125-26-197846.txt : 20260430
<SEC-HEADER>0001193125-26-197846.hdr.sgml : 20260430
<ACCEPTANCE-DATETIME>20260430171647
ACCESSION NUMBER:		0001193125-26-197846
CONFORMED SUBMISSION TYPE:	S-3ASR
PUBLIC DOCUMENT COUNT:		15
FILED AS OF DATE:		20260430
DATE AS OF CHANGE:		20260430
EFFECTIVENESS DATE:		20260430

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Moelis & Co
		CENTRAL INDEX KEY:			0001596967
		STANDARD INDUSTRIAL CLASSIFICATION:	INVESTMENT ADVICE [6282]
		ORGANIZATION NAME:           	02 Finance
		EIN:				464500216
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-295469
		FILM NUMBER:		26927233

	BUSINESS ADDRESS:	
		STREET 1:		399 PARK AVENUE, 5TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		(212) 883-3800

	MAIL ADDRESS:	
		STREET 1:		399 PARK AVENUE, 5TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3ASR
<SEQUENCE>1
<FILENAME>d102217ds3asr.htm
<DESCRIPTION>S-3ASR
<TEXT>
<HTML><HEAD>
<TITLE>S-3ASR</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>As filed with the Securities and Exchange Commission on April&nbsp;30, 2026 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="right"><B>Registration No.&nbsp;333-&#8194;&#8194;&#8194;&#8194;&#8194; </B></P>
<P STYLE="font-size:4pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT STYLE="white-space:nowrap">S-3</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>REGISTRATION STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>UNDER </I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B><I>THE
SECURITIES ACT OF 1933 </I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>MOELIS&nbsp;&amp; COMPANY </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in Its Charter) </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


<TR>

<TD WIDTH="34%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="33%"></TD>

<TD VALIGN="bottom"></TD>
<TD WIDTH="31%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="top" ALIGN="center"><B>DELAWARE</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>6199</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>46-4500216</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(State or Other Jurisdiction of<BR>Incorporation or Organization)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Primary Standard Industrial<BR>Classification Code Number)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(I.R.S. Employer</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Identification Number)</B></P></TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>399 Park Avenue, 4th Floor </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>New York, New York 10022 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>(212) 883-3800 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address,
Including Zip Code, and Telephone Number, Including Area Code, of Registrant&#8217;s Principal Executive Offices) </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Osamu R. Watanabe, Esq. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>General Counsel </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Moelis&nbsp;&amp; Company </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>399 Park Avenue, 5th Floor </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>New York, New York 10022 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>(212) 883-3800 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name,
Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service) </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>Copies to: </I></B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Michael
J. Hong, Esq. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>Skadden, Arps, Slate, Meagher&nbsp;&amp; Flom LLP </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>One Manhattan West </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>New
York, New York 10001 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:9pt; font-family:Times New Roman" ALIGN="center"><B>(212) 735-3000 </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:9pt; font-family:Times New Roman">Approximate date of commencement of proposed sale to the public: From time to time after the effective date of this registration statement. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:9pt; font-family:Times New Roman">If the only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the
following box.&#8194;&#9744; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:9pt; font-family:Times New Roman">If any of the securities being registered on this Form are to be offered on a delayed or continuous basis
pursuant to Rule 415 under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans, check the following box.&#8194;&#9746; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:9pt; font-family:Times New Roman">If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the
following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&#8194;&#9744; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:9pt; font-family:Times New Roman">If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier effective registration statement for the same offering.&#8194;&#9744; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:9pt; font-family:Times New Roman">If this
Form is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following
box.&#8194;&#9746; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:9pt; font-family:Times New Roman">If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed
to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box.&#8194;&#9744; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:9pt; font-family:Times New Roman">Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a
<FONT STYLE="white-space:nowrap">non-accelerated</FONT> filer, a smaller reporting company, or an emerging growth company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer,&#8221; &#8220;smaller reporting
company,&#8221; and &#8220;emerging growth company&#8221; in Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Exchange Act. (Check one): </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:9pt" ALIGN="center">


<TR>

<TD WIDTH="15%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="62%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="18%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="2%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom">Large&nbsp;accelerated&nbsp;filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9746;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Accelerated filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"><FONT STYLE="white-space:nowrap">Non-accelerated</FONT> filer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Smaller&nbsp;reporting&nbsp;company</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD>
<TD HEIGHT="2" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:9pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom">Emerging growth company</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&#9744;</TD></TR>
</TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:9pt; font-family:Times New Roman">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended
transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;7(a)(2)(B) of the Securities Act.&#8194;&#9744; </P>
<P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>PROSPECTUS </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:0pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g102217g11a02.jpg" ALT="LOGO" STYLE="width:1.20402in;height:0.326901in;">
 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Class&nbsp;A Common Stock </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may offer and sell shares of our Class&nbsp;A common stock from time to time, in one or more offerings, in amounts, at prices and on terms
determined at the time of any such offering. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We will provide the specific prices and terms of our Class&nbsp;A common stock in one or
more supplements to this prospectus at the time of offering. You should read this prospectus and the accompanying prospectus supplement carefully before you make your investment decision. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>This prospectus may not be used to sell securities unless accompanied by a prospectus supplement. </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may offer our Class&nbsp;A common stock through underwriting syndicates managed or <FONT STYLE="white-space:nowrap">co-managed</FONT> by
one or more underwriters or dealers, through agents or directly to purchasers. Our Class&nbsp;A common stock also may be resold by selling securityholders. If required, the prospectus supplement for each offering of Class&nbsp;A common stock will
describe the plan of distribution for that offering. For general information about the distribution of Class&nbsp;A common stock offered, see &#8220;Plan of Distribution&#8221; herein. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our Class&nbsp;A common stock is traded on the New York Stock Exchange (the &#8220;NYSE&#8221;) under the symbol &#8220;MC.&#8221; </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:12pt; font-family:Times New Roman"><B>Investing in our Class&nbsp;A common stock involves risks. See &#8220;<A HREF="#toc102217_4">Risk Factors</A>&#8221; beginning on
page&nbsp;4 and in the applicable prospectus supplement before you make your investment decision. </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>The Securities and Exchange
Commission and state securities regulators have not approved or disapproved these securities, or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense. </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>The date of this prospectus is April 30, 2026 </B></P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc"></A>TABLE OF CONTENTS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="95%"></TD>

<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="2" ALIGN="center" STYLE="border-bottom:1.00pt solid #000000"><B>Page</B></TD>
<TD VALIGN="bottom">&nbsp;</TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_1">ABOUT THIS PROSPECTUS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">1</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_2">SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">2</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_3">MOELIS&nbsp;&amp; COMPANY</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">3</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_4">RISK FACTORS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">4</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_5">USE OF PROCEEDS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">5</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_6">DESCRIPTION OF CAPITAL STOCK</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">6</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_7">SELLING SECURITYHOLDERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">11</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_8">PLAN OF DISTRIBUTION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">12</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_9">LEGAL MATTERS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_10">EXPERTS</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">13</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><A HREF="#toc102217_11">WHERE YOU CAN FIND MORE INFORMATION</A></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">14</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">i </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_1"></A>ABOUT THIS PROSPECTUS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This prospectus is part of an &#8220;automatic shelf&#8221; registration statement that we filed with the Securities and Exchange Commission
(the &#8220;SEC&#8221;) as a &#8220;well-known seasoned issuer&#8221; as defined in Rule 405 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;), using a &#8220;shelf&#8221; registration process. Under this process, we
may sell from time to time our Class&nbsp;A common stock described in this prospectus. This prospectus only provides you with a general description of our Class&nbsp;A common stock that we may offer. Each time we sell our Class&nbsp;A common stock,
we will provide a supplement to this prospectus that contains specific information about the terms of that offering, including the specific amounts, prices and terms of the Class&nbsp;A common stock offered. The prospectus supplement may also add,
update or change information contained in this prospectus. You should carefully read both this prospectus, any accompanying prospectus supplement and any free writing prospectus prepared by or on behalf of us, together with the additional
information described under the heading &#8220;Where You Can Find More Information.&#8221; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have not authorized anyone to provide any
information or to make any representations other than those contained in or incorporated by reference into this prospectus, any accompanying prospectus supplement and any free writing prospectus prepared by or on behalf of us. We take no
responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. You should not assume that the information in this prospectus, any accompanying prospectus supplement or any other offering
materials is accurate as of any date other than the date on the front of each document, regardless of the time of delivery of this prospectus, any accompanying prospectus supplement or any sale of securities. We are not making offers to sell these
securities in any jurisdiction in which an offer or solicitation is not authorized or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make an offer or solicitation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The information in this prospectus is accurate as of the date on the front cover. You should not assume that the information contained in this
prospectus is accurate as of any other date. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In this prospectus, when we use the terms the &#8220;Company,&#8221; &#8220;we,&#8221;
&#8220;our,&#8221; or &#8220;us,&#8221; we mean Moelis&nbsp;&amp; Company, a Delaware corporation, and its consolidated subsidiaries. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_2"></A>SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This prospectus and any accompanying prospectus supplement and any documents incorporated by reference contain forward-looking statements,
which reflect our current views with respect to, among other things, our operations and financial performance. You can identify these forward-looking statements by the use of words such as &#8220;may,&#8221; &#8220;might,&#8221; &#8220;will,&#8221;
&#8220;should,&#8221; &#8220;expect,&#8221; &#8220;plan,&#8221; &#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;intend,&#8221; &#8220;predict,&#8221; &#8220;potential&#8221; or &#8220;continue,&#8221; the negative of
these terms and other comparable terminology. These forward-looking statements, which are subject to risks, uncertainties, and assumptions about us, may include projections of our future financial performance, based on our growth strategies and
anticipated trends in our business. These statements are only predictions based on our current expectations and projections about future events. There are important factors that could cause our actual results, level of activity, performance or
achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, level of
activity, performance or achievements. Moreover, neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking statements. You should not rely upon forward-looking statements as a prediction
of future events. Except as required by applicable law, we are under no duty to and we do not undertake any obligation to update or review any of these forward-looking statements after the date of this prospectus to conform our prior statements to
actual results or revised expectations whether as a result of new information, future developments or otherwise. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_3"></A>MOELIS&nbsp;&amp; COMPANY </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Moelis&nbsp;&amp; Company is a leading global independent investment bank that provides innovative strategic advice and solutions to a diverse
client base, including corporations, governments, and financial sponsors. We assist our clients in achieving their strategic goals by offering comprehensive integrated financial advisory services across all major industry sectors. With over 20
locations in North and South America, Europe, the Middle East, Asia and Australia, we advise clients on their most critical decisions, including mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other
corporate finance matters. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Moelis&nbsp;&amp; Company was incorporated in Delaware on January 9, 2014. Our principal executive offices are
located at 399 Park Avenue, 4th Floor, New York, NY 10022, and our phone number is (212) <FONT STYLE="white-space:nowrap">883-3800.</FONT> </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_4"></A>RISK FACTORS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Investing in our Class&nbsp;A common stock involves risk. See the risk factors described in our most recent Annual Report on Form <FONT
STYLE="white-space:nowrap">10-K</FONT> (together with any material changes thereto contained in subsequently filed Quarterly Reports on Form <FONT STYLE="white-space:nowrap">10-Q)</FONT> and those contained in our other filings with the SEC that are
incorporated by reference in this prospectus and any accompanying prospectus supplement. Before making an investment decision, you should carefully consider these risks as well as other information we include or incorporate by reference in this
prospectus and any accompanying prospectus supplement. These risks could materially affect our business, financial condition or results of operations and cause the value of our securities to decline. You could lose all or part of your investment.
</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_5"></A>USE OF PROCEEDS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We intend to use the net proceeds from the sale of our Class&nbsp;A common stock for general corporate purposes unless otherwise indicated in
the applicable prospectus supplement. General corporate purposes may include working capital and the repurchase of securities held by our current or former employees, affiliates or other persons. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Proceeds from the sale of our Class&nbsp;A common stock will be contributed to Group LP and used for the purposes described above pursuant to
the amended and restated limited partnership agreement of Group LP (subject to the exceptions therein). See &#8220;Description of Capital Stock&#8212;Amended and Restated Limited Partnership Agreement of Group LP.&#8221; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Unless set forth in an accompanying prospectus supplement, we will not receive any proceeds in the event that securities are sold by a selling
securityholder. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_6"></A>DESCRIPTION OF CAPITAL STOCK </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The following description of our capital stock is qualified in its entirety by reference to our amended and restated certificate of
incorporation and bylaws, which are filed as exhibits to the registration statement of which this prospectus forms a part, and by applicable law. Capitalized terms used but not defined herein have the meanings ascribed to them in the amended and
restated certificate of incorporation and the stockholders agreement, dated April&nbsp;15, 2014, by and between the Registrant and Moelis&nbsp;&amp; Company Partner Holdings LP (&#8220;Partner Holdings&#8221;), Kenneth Moelis, The Moelis Irrevocable
Trust and The Moelis Family Trust. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our authorized capital stock consists of 1,000,000,000 shares of Class&nbsp;A common stock, par value
$0.01 per share, 1,000,000,000 shares of Class&nbsp;B common stock, par value $0.01 per share, and 5,000,000 shares of preferred stock, par value $0.01 per share. Unless our board of directors determines otherwise, we will issue all shares of our
capital stock in uncertificated form. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;A Common Stock </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Holders of our Class&nbsp;A common stock are entitled to one vote for each share held of record on all matters submitted to a vote of
stockholders. Our Class&nbsp;A stockholders are not entitled to cumulate their votes in the election of directors. Generally, all matters to be voted on by stockholders must be approved by a majority (or, in the case of election of directors, by a
plurality) of the votes entitled to be cast by all holders of shares of Class&nbsp;A common stock and Class&nbsp;B common stock present in person or represented by proxy, voting together as a single class. Except as otherwise provided by law,
amendments to the amended and restated certificate of incorporation must be approved by a majority or, in some cases, a super-majority of the combined voting power of all shares of Class&nbsp;A common stock and shares of Class&nbsp;B common stock,
voting together as a single class. However, amendments to the amended and restated certificate of incorporation that would increase or decrease the par value of the shares of such class, or alter or change the powers, preferences or special rights
of the shares of such class so as to affect them adversely also must be approved by a majority of the votes entitled to be cast by the holders of the shares of the class affected by the amendment, voting as a separate class. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Holders of our Class&nbsp;A common stock are entitled to receive dividends when and if declared by our board of directors out of funds legally
available therefor, subject to any statutory or contractual restrictions on the payment of dividends and to any restrictions on the payment of dividends imposed by the terms of any outstanding preferred stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Upon our dissolution or liquidation or the sale of all or substantially all of our assets, after payment in full of all amounts required to be
paid to creditors and to the holders of preferred stock having liquidation preferences, if any, the holders of our Class&nbsp;A and Class&nbsp;B common stock will be entitled to receive our remaining assets available for distribution on a pro rata
basis. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Holders of our Class&nbsp;A common stock do not have preemptive, subscription, redemption or conversion rights. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the transfer restrictions set forth in the Moelis&nbsp;&amp; Company Group LP (&#8220;Group LP&#8221;) limited partnership
agreement, holders of fully vested Group LP Class&nbsp;A partnership units (other than Moelis&nbsp;&amp; Company) may exchange these units for shares of Class&nbsp;A common stock on a
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">one-for-one</FONT></FONT> basis or cash (based on the market price of the shares of Class&nbsp;A common stock) at Group LP&#8217;s option, subject to customary conversion rate
adjustments for stock splits, stock dividends and reclassifications. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each share of Class&nbsp;B common stock may, at the option of the
holders, be converted into Class&nbsp;A common stock, at a conversion rate determined based on the ratio of the subscription price for such shares to the initial public offering price of the Class&nbsp;A common stock. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Class&nbsp;B Common Stock </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">For so long as the Class&nbsp;B Condition is satisfied, each share of our Class&nbsp;B common stock will entitle Partner Holdings to ten votes
for each share held of record on all matters submitted to a vote of stockholders. After the Class&nbsp;B Condition ceases to be satisfied, each share of our Class&nbsp;B common stock will entitle Partner Holdings to one vote for each share held of
record on all matters submitted to a vote of stockholders. Shares of our Class&nbsp;B common stock are not transferable. Our Class&nbsp;B stockholders will not be entitled to cumulate their votes in the election of directors. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Holders of our Class&nbsp;B common stock will be entitled to receive dividends of the same type as any dividends payable on outstanding
Class&nbsp;A common stock. Dividends on shares of Class&nbsp;B common stock will be calculated based on the applicable subscription amount such that the aggregate dividends payable with respect to Class&nbsp;B common stock will equal the dividends
payable with respect to an equivalent dollar amount of Class&nbsp;A common stock. The holders of our Class&nbsp;B common stock are entitled to receive, on a pari passu basis with the holders of our Class&nbsp;A common stock, such dividend or other
distribution when, as and if declared by our board of directors out of funds legally available therefor, subject to any statutory or contractual restrictions on the payment of dividends and to any restrictions on the payment of dividends imposed by
the terms of any outstanding preferred stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Each share of Class&nbsp;B common stock may, at the option of Partner Holdings, be
converted into Class&nbsp;A common stock, at a conversion rate determined based on the ratio of the subscription price for such shares to the initial public offering price of the Class&nbsp;A common stock. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman">Holders of our Class&nbsp;B common stock do not have preemptive or subscription rights. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Preferred Stock </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our amended and restated
certificate of incorporation authorizes our board of directors to establish one or more series of preferred stock (including convertible preferred stock). Unless required by law or by any stock exchange, the authorized shares of preferred stock will
be available for issuance without further action by you. Our board of directors may determine, with respect to any series of preferred stock, the terms and rights of that series, including: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the designation of the series; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the number of shares of the series, which our board may, except where otherwise provided in the preferred stock
designation, increase or decrease, but not below the number of shares then outstanding; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">whether dividends, if any, will be cumulative or <FONT STYLE="white-space:nowrap">non-cumulative</FONT> and the
dividend rate of the series; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the dates at which dividends, if any, will be payable; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the redemption rights and price or prices, if any, for shares of the series; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the terms and amounts of any sinking fund provided for the purchase or redemption of shares of the series;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the amounts payable on shares of the series in the event of any voluntary or involuntary liquidation, dissolution
or <FONT STYLE="white-space:nowrap">winding-up</FONT> of the affairs of our Company; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">whether the shares of the series will be convertible into shares of any other class or series, or any other
security, of our Company or any other entity, and, if so, the specification of the other class or series or other security, the conversion price or prices or rate or rates, any rate adjustments, the date or dates as of which the shares will be
convertible and all other terms and conditions upon which the conversion may be made; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">restrictions on the issuance of shares of the same series or of any other class or series; and
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">the voting rights, if any, of the holders of the series. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">7 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We may issue a series of preferred stock that could, depending on the terms of the series,
impede or discourage an acquisition attempt or other transaction that some, or a majority, of you might believe to be in your best interests or in which you might receive a premium for your Class&nbsp;A common stock over the market price of the
Class&nbsp;A common stock. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Authorized but Unissued Capital Stock </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Delaware law does not require stockholder approval for any issuance of authorized shares. However, the listing requirements of the NYSE, which
apply so long as the Class&nbsp;A common stock remains listed on the NYSE, require stockholder approval of certain issuances of capital stock equal to or exceeding 20% of the then outstanding voting power or then outstanding number of shares of
Class&nbsp;A common stock. These additional shares may be used for a variety of corporate purposes, including future public offerings, to raise additional capital or to facilitate acquisitions. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">One of the effects of the existence of unissued and unreserved Class&nbsp;A common stock or preferred stock may be to enable our board of
directors to issue shares to persons friendly to current management, which issuance could render more difficult or discourage an attempt to obtain control of our Company by means of a merger, tender offer, proxy contest or otherwise, and thereby
protect the continuity of our management and possibly deprive the stockholders of opportunities to sell their shares of Class&nbsp;A common stock at prices higher than prevailing market prices. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forum Selection Clause </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our amended and
restated certificate of incorporation provides that, unless we consent in writing to the selection of an alternative forum, the Court of Chancery of the State of Delaware will be the sole and exclusive forum for (i)&nbsp;any derivative action or
proceeding brought on our behalf, (ii)&nbsp;any action asserting a claim of breach of a fiduciary duty owed by any of our directors, officers, employees or agents or our stockholders, (iii)&nbsp;any action asserting a claim arising pursuant to any
provision of the Delaware General Corporation Law (the &#8220;DGCL&#8221;) or our amended and restated certificate of incorporation or amended and restated bylaws or (iv)&nbsp;any action asserting a claim governed by the internal affairs doctrine.
In the event that the Court of Chancery lacks jurisdiction over any such action or proceeding, the sole and exclusive forum for such action or proceeding will be another state or federal court located within the State of Delaware. Any person or
entity purchasing or otherwise acquiring any interest in shares of our capital stock is deemed to have notice of and consented to the foregoing provision. This choice of forum provision limits a stockholder&#8217;s ability to bring a claim in
another judicial forum, including in a judicial forum that it may find favorable for disputes with us or our directors, officers or other employees, which may discourage such lawsuits against us and our directors, officers and other employees. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Anti-Takeover Effects of Provisions of Delaware Law, our Amended and Restated Certificate of Incorporation and the Stockholders Agreement </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our amended and restated certificate of incorporation and bylaws contain provisions that are intended to enhance the likelihood of continuity
and stability in the composition of the board of directors and that may have the effect of delaying, deferring or preventing a future takeover or change in control of our Company unless the takeover or change in control is approved by our board of
directors. These provisions include the following: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our amended and restated certificate of incorporation provides that stockholder action
may be taken by written consent in lieu of a meeting for so long as the Class&nbsp;B Condition is satisfied. After the Class&nbsp;B Condition ceases to be satisfied, stockholders will no longer have the ability to consent in writing to the taking of
any action so that stockholder action may be taken only at an annual or special meeting of stockholders. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our amended and restated
certificate of incorporation provides that, except as otherwise required by law, special meetings of our stockholders can only be called by our Chief Executive Officer, pursuant to a resolution </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">8 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
adopted by a majority of our board of directors or a committee of the board of directors that has been duly designated by the board of directors and whose powers and authority include the power
to call such meetings, or by the chairman of our board of directors. Notwithstanding the foregoing, for so long as the Class&nbsp;B Condition is satisfied, stockholders collectively holding at least a majority of the voting power of the issued and
outstanding shares of our capital stock entitled to vote in connection with the election of directors may call a special meeting. After the Class&nbsp;B Condition ceases to be satisfied, stockholders will no longer have the ability to call a special
meeting. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition, we are party to a stockholders agreement with Partner Holdings. Under this agreement, Partner Holdings has the
right to designate a number of designees to our board of directors equal to a majority of the board of directors so long as the Class&nbsp;B Condition is satisfied. After the Class&nbsp;B Condition ceases to be satisfied, for so long as the
Secondary Class&nbsp;B Condition is satisfied, Partner Holdings has the right to designate a number of designees to our board of directors equal to one quarter of the board of directors. As long as the Class&nbsp;B Condition or the Secondary
Class&nbsp;B Condition is satisfied, Partner Holdings retains the right to remove any director previously designated by it. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In addition,
there is no cumulative voting in the election of directors and our amended and restated certificate of incorporation provides that directors may be removed, with or without cause, only with the affirmative vote of at least 80% of the voting interest
of stockholders entitled to vote; provided, however, that for so long as the Class&nbsp;B Condition is satisfied, directors may be removed, with or without cause, with the affirmative vote of a majority of the voting interest of stockholders
entitled to vote. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The foregoing provisions of our amended and restated certificate of incorporation and bylaws and the stockholders
agreement could discourage potential acquisition proposals and could delay or prevent a change in control. These provisions are intended to enhance the likelihood of continuity and stability in the composition of our board of directors and in the
policies formulated by our board of directors and to discourage certain types of transactions that may involve an actual or threatened change of control. These provisions are designed to reduce our vulnerability to an unsolicited acquisition
proposal. The provisions also are intended to discourage certain tactics that may be used in proxy fights. However, such provisions could have the effect of discouraging others from making tender offers for our shares and, as a consequence, they
also may inhibit fluctuations in the market price of our Class&nbsp;A common stock that could result from actual or rumored takeover attempts. Such provisions also may have the effect of preventing changes in our management or delaying or preventing
a transaction that might benefit you or other minority stockholders. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Amended and Restated Limited Partnership Agreement of Group LP </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We operate our business through Group LP and its subsidiaries. Through our control of the general partner of Group LP, we have unilateral
control (subject to the consent of Partner Holdings on various matters) over the affairs and decisions of Group LP. As such, we, through our officers and directors, are responsible for all operational and administrative decisions of Group LP and the
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">day-to-day</FONT></FONT> management of Group LP&#8217;s business. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Coordination of
Moelis&nbsp;&amp; Company and Group LP </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">At any time we issue a share of Class&nbsp;A common stock for cash, unless we use the proceeds
for certain specified permitted purposes (including the acquisition of Group LP Class&nbsp;A partnership units or other property), the proceeds received by us will be promptly transferred to Group LP, and Group LP will issue to us one of its Group
LP Class&nbsp;A partnership units. At any time we issue a share of Class&nbsp;A common stock pursuant to our equity incentive plan we will contribute to Group LP all of the proceeds that we receive (if any), and Group LP will issue to us one of its
Group LP Class&nbsp;A partnership units, having the same restrictions, if any, attached to the shares of Class&nbsp;A common stock issued under the equity incentive plan. Conversely, if we redeem or repurchase any of our shares of Class&nbsp;A
common stock, Group LP will, immediately prior to our redemption or repurchase, redeem or repurchase an equal number of Group LP Class&nbsp;A partnership units held by us, upon the same terms </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">9 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
and for the same price, as the shares of Class&nbsp;A common stock are redeemed or repurchased. We can only redeem or repurchase shares of Class&nbsp;A common stock if Group LP first redeems or
repurchases an equivalent amount of Group LP Class&nbsp;A partnership units that we hold. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><B>Exchange Rights </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Subject to the terms and conditions of the Group LP amended and restated limited partnership agreement, each Group LP Class&nbsp;A unitholder
(except for us) has the right to exchange Group LP Class&nbsp;A partnership units, either for shares of our Class&nbsp;A common stock on a <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">one-for-one</FONT></FONT> basis, or cash
(based on the market price of the shares of Class&nbsp;A common stock), at Group LP&#8217;s option. If Group LP chooses to exchange such units for our Class&nbsp;A common stock, we will deliver an equivalent number of shares of Class&nbsp;A common
stock to Group LP for further delivery to the exchanging holder and receive a corresponding number of newly issued Group LP Class&nbsp;A partnership units. The exchanging holder&#8217;s surrendered Group LP Class&nbsp;A partnership units will be
cancelled by Group LP. As Group LP Class&nbsp;A unitholders exchange their Group LP Class&nbsp;A partnership units, our percentage of economic ownership of Group LP will be correspondingly increased. Following each such exchange, Partner Holdings
will be required to surrender to us a corresponding number of shares of Class&nbsp;B common stock (as applicable), and each such applicable share will be converted into approximately 0.00055 shares of Class&nbsp;A common stock, which will be
delivered to Partner Holdings. Group LP will also convert an equivalent number of Class&nbsp;B partnership units held by us into Class&nbsp;A partnership units based on the same conversion rate, as applicable. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">10 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_7"></A>SELLING SECURITYHOLDERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Information about selling securityholders, where applicable, will be set forth in a prospectus supplement, in a post-effective amendment or in
filings we make with the SEC under the Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;) which are incorporated by reference into this prospectus. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">11 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_8"></A>PLAN OF DISTRIBUTION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We or the selling securityholders may sell, transfer or otherwise dispose of any or all of the Class&nbsp;A common stock being offered hereby
on any stock exchange, market or trading facility on which the Class&nbsp;A common stock is traded or in private transactions, in one or more transactions at fixed prices, at prevailing market prices at the time of the sale, at prices related to the
prevailing market price, at varying prices determined at the time of sale, or at negotiated prices. These dispositions may be effected in transactions, which may involve crosses or block transactions: </P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">to or through agents, dealers or underwriters; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">directly to one or more purchasers, including our affiliates; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">through ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">through an exchange distribution in accordance with the rules of the applicable exchange; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">through the writing or settlement of options or other hedging transactions, whether through an options exchange
or otherwise, or through other derivative transactions or short sales; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">by pledge to secure debts and other obligations; </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">through block trades in which the broker-dealer will attempt to sell the shares as agent but may position and
resell a portion of the block as principal to facilitate the transaction; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">through purchases by a broker-dealer as principal and resale by the broker-dealer for its account;
</P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">through a combination of any of these methods of sale; or </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">through any other method permitted pursuant to applicable law. </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We will identify the specific plan of distribution, including any underwriters, dealers, agents or direct purchasers and their compensation in
a prospectus supplement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Transfer Agent and Registrar </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The transfer agent and registrar for our Class&nbsp;A common stock is Computershare Trust Company, N.A. The transfer agent&#8217;s address is
118 Fernwood Avenue, Edison, NJ 08837. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Listing </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Our Class&nbsp;A common stock is listed on the NYSE under the symbol &#8220;MC.&#8221; </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">12 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_9"></A>LEGAL MATTERS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Unless otherwise indicated in any accompanying prospectus supplement, Skadden, Arps, Slate, Meagher&nbsp;&amp; Flom LLP will provide opinions
regarding the authorization and validity of the securities. Skadden, Arps, Slate, Meagher&nbsp;&amp; Flom LLP may also provide opinions regarding certain other matters. Any underwriters will be advised about legal matters by their own counsel, which
will be named in an accompanying prospectus supplement. </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_10"></A>EXPERTS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The consolidated financial statements, and the related financial statement schedule, incorporated in this prospectus by reference from
Moelis&nbsp;&amp; Company&#8217;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> and the effectiveness of the Company&#8217;s internal control over financial reporting have been audited by Deloitte&nbsp;&amp; Touche LLP, an
independent registered public accounting firm, as stated in their reports, which are incorporated herein by reference. Such consolidated financial statements and financial statement schedule have been so incorporated in reliance upon the reports of
such firm given upon their authority as experts in accounting and auditing. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">13 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="toc102217_11"></A>WHERE YOU CAN FIND MORE INFORMATION </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We file annual, quarterly and current reports, proxy statements and other information with the SEC. Our SEC filings are available to you, free
of charge, on the SEC&#8217;s website at http://www.sec.gov. You may also obtain additional information by visiting our website at http://investors.moelis.com. The information found on, or otherwise accessible through, our website is not
incorporated into, and does not form a part of this prospectus or any other report or document we file with or furnish to the SEC. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This
prospectus is only part of a registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> that we have filed with the SEC under the Securities Act and therefore omits some of the information contained in the registration statement. We
have also filed exhibits and schedules to the registration statement which are excluded from this prospectus, and you should refer to the applicable exhibit or schedule for a complete description of any statement referring to any contract or other
document. You may inspect or obtain a copy of the registration statement, including the exhibits and schedules, as described in the previous paragraph. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The SEC&#8217;s rules allow us to &#8220;incorporate by reference&#8221; information into this prospectus and any accompanying prospectus
supplement. This means that we can disclose important information to you by referring you to another document filed separately with the SEC. Any information referred to in this way is considered part of this prospectus and any accompanying
prospectus supplement from the date we file that document. Any reports filed by us with the SEC after the date of the prospectus and any accompanying prospectus supplement and before the date that the offerings of the Class&nbsp;A common stock by
means of this prospectus and any accompanying prospectus supplement are terminated, will automatically update and, where applicable, supersede any information contained in this prospectus or incorporated by reference in this prospectus and any
accompanying prospectus supplement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We incorporate by reference into this prospectus and any accompanying prospectus supplement the
following documents or information filed with the SEC: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001596967/000119312526076747/mc-20251231.htm">Form
 <FONT STYLE="white-space:nowrap">10-K</FONT></A> for the fiscal year ended December 31, 2025; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1596967/000119312526192462/mc-20260331.htm">Form
 <FONT STYLE="white-space:nowrap">10-Q</FONT></A> for the fiscal quarter ended March&nbsp;31, 2026; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Those portions of our Definitive Proxy Statement on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/1596967/000119312526193242/d79640ddef14a.htm">Schedule
 14A</A>, filed on April 29, 2026, that are incorporated by reference into Part III of our Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/../../../ix?doc=/Archives/edgar/data/0001596967/000119312526076747/mc-20251231.htm">Form <FONT
STYLE="white-space:nowrap">10-K</FONT></A> for the year ended December&nbsp;31, 2025; </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Registration Statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1596967/000110465914027271/a14-10382_18a12b.htm">Form
 <FONT STYLE="white-space:nowrap">8-A</FONT></A> for registration of the Class&nbsp;A common stock to section 12(b) of the Exchange Act, filed on April 11, 2014; and </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">All other documents filed by Moelis&nbsp;&amp; Company under sections 13(a), 13(c), 14 or 15(d) of the Exchange
Act after the date of this prospectus and before the termination of the offerings to which this prospectus relates (other than documents and information furnished and not filed in accordance with SEC rules, unless expressly stated otherwise
therein). </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We will provide, without charge to each person, including any beneficial owner, to whom this prospectus and
any accompanying prospectus supplement is delivered, upon his or her written or oral request, a copy of any or all documents referred to above which have been or may be incorporated by reference into this prospectus and any accompanying prospectus
supplement, excluding exhibits to those documents unless they are specifically incorporated by reference into those documents. You may request copies of those documents from Moelis&nbsp;&amp; Company, 399 Park Avenue, 4th Floor, New York, NY 10022.
You also may contact us at (212) 883-3800 or visit the &#8220;Financial Reports&nbsp;&amp; SEC Filings&#8221; of our Investor Relations website at http://investors.moelis.com for copies of those documents. Our website and the information contained
on our website are not a part of this prospectus or any accompanying prospectus supplement, and you should not rely on any such information in making your decision whether to acquire our Class&nbsp;A common stock. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">14 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
<DIV STYLE="line-height:2.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:2.00pt solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</DIV> <P STYLE="font-size:24pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="font-size:0pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-top:0pt;margin-bottom:0pt" ALIGN="center">


<IMG SRC="g102217g19a19.jpg" ALT="LOGO" STYLE="width:1.20402in;height:0.326901in;">
 </P> <P STYLE="margin-top:60pt; margin-bottom:0pt; font-size:14pt; font-family:Times New Roman" ALIGN="center"><B>Class&nbsp;A Common Stock </B></P>
<P STYLE="font-size:60pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PROSPECTUS </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="margin-top:150pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>April 30, 2026 </B></P>
<P STYLE="font-size:30pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;
</DIV><DIV STYLE="line-height:4.5pt;margin-top:0pt;margin-bottom:2pt;border-bottom:2.00pt solid #000000">&nbsp;</DIV>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>PART II </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>INFORMATION NOT REQUIRED IN PROSPECTUS </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Item&#8201;14. Other Expenses of Issuance and Distribution. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The expenses relating to the registration of the securities will be borne by the Registrant. </P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="68%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="83%"></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD></TD>
<TD></TD>
<TD></TD></TR>


<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Securities and Exchange Commission Registration Fee</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">*</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Accounting Fees and Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#8195;&#8195;&#8195;**</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Legal Fees and Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">**</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Printing Fees</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">**</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Transfer Agents and Trustees&#8217; Fees and Expenses</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">**</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Rating Agency Fees</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">**</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Stock Exchange Listing Fees</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">**</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Miscellaneous</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">**</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
<TR STYLE="font-size:1px; ">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-top:1.00px solid #000000">&nbsp;</P></TD>
<TD>&nbsp;</TD></TR>
<TR BGCOLOR="#cceeff" STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Total</P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD NOWRAP VALIGN="bottom">$</TD>
<TD NOWRAP VALIGN="bottom" ALIGN="right">&#8212;&#8194;</TD>
<TD NOWRAP VALIGN="bottom">&nbsp;</TD></TR>
</TABLE> <DIV STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</DIV>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Deferred in reliance on Rules 456(b) and 457(r) under the Securities Act. </P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">**</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Since an indeterminate amount of securities is covered by this registration statement, the expenses in
connection with the issuance and distribution of the securities are not currently determinable. </P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Item&#8201;15. Indemnification of
Directors and Officers. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;145 of the DGCL provides that a corporation may indemnify directors and officers as well as
other employees and individuals against expenses (including attorneys&#8217; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with any threatened, pending or completed actions,
suits or proceedings in which such person is made a party by reason of such person being or having been a director, officer, employee or agent to the Registrant. The DGCL provides that section 145 is not exclusive of other rights to which those
seeking indemnification may be entitled under any bylaw, agreement, vote of stockholders or disinterested directors or otherwise. Article Tenth of the Registrant&#8217;s amended and restated certificate of incorporation provides for indemnification
by the Registrant of members of its board of directors, members of committees of its board of directors and of other committees of the Registrant, and its executive officers, and allows the Registrant to provide indemnification for its other
officers and its agents and employees, and those serving another corporation, partnership, joint venture, trust or other enterprise at the request of the Registrant, in each case to the maximum extent permitted by the DGCL. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Section&nbsp;102(b)(7) of the DGCL permits a corporation to provide in its certificate of incorporation that a director of the corporation
shall not be personally liable to the corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, except for liability (i)&nbsp;for any breach of the director&#8217;s duty of loyalty to the corporation or its
stockholders, (ii)&nbsp;for acts or omissions not in good faith or which involve intentional misconduct or a knowing violation of law, (iii)&nbsp;for unlawful payments of dividends or unlawful stock repurchases, redemptions or other distributions or
(iv) for any transaction from which the director derived an improper personal benefit. The Registrant&#8217;s amended and restated certificate of incorporation provides for such limitation of liability. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Registrant has also entered into separate indemnification agreements with each of its directors which are in addition to the
Registrant&#8217;s indemnification obligations under its amended and restated certificate of incorporation. These indemnification agreements may require the Registrant, among other things, to indemnify its directors against expenses and liabilities
that may arise by reason of their status as directors, subject to certain exceptions. These indemnification agreements may also require the Registrant to advance any expenses incurred by its directors as a result of any proceeding against them as to
which they could be indemnified and to obtain and maintain directors&#8217; and officers&#8217; insurance. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">II-1 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Registrant maintains standard policies of insurance under which coverage is provided
(a)&nbsp;to its directors and officers against loss arising from claims made by reason of breach of duty or other wrongful act and (b)&nbsp;to the Registrant with respect to payments which may be made by the Registrant to such officers and directors
pursuant to the above indemnification provision or otherwise as a matter of law. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Item&#8201;16. Exhibits. </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The Exhibits to this registration statement are listed in the Exhibit Index on page II-4. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Item&#8201;17. Undertakings. </I></B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)
The undersigned registrant hereby undertakes: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(1) To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) To include any prospectus required by Section&nbsp;10(a)(3)
of the Securities Act; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) To reflect in the prospectus any facts or events arising after the effective date of the
registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any
increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in
the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than a 20&nbsp;percent change in the maximum aggregate offering price set forth in the &#8220;Calculation of
Registration Fee&#8221; table in the effective registration statement; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) To include any material information with
respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">provided, however, that paragraphs (i), (ii) and (iii)&nbsp;of this section do not apply if the information required to be included in a
post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to Section&nbsp;13 or Section&nbsp;15(d) of the Exchange Act that are incorporated by reference in this registration
statement, or is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of this registration statement; </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain
unsold at the termination of the offering. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(4) That, for the purpose of determining liability under the Securities Act to
any purchaser: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the
registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in
reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii) or (x)&nbsp;for the purpose of providing the information required by section 10(a) of the Securities Act shall be deemed to be part of and included in the
registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for
liability </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">II-2 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">
purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the
registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made in a registration statement or
prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time
of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such
effective date. </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(5) That, for the purpose of determining liability of the registrant under the Securities Act to any
purchaser in the initial distribution of the securities: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The undersigned registrant undertakes that in a primary offering of securities
of the undersigned registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following
communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(i) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed
pursuant to Rule 424; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(ii) Any free writing prospectus relating to the offering prepared by or on behalf of the
undersigned registrant or used or referred to by the undersigned registrant; </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iii) The portion of any other free writing
prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; text-indent:4%; font-size:10pt; font-family:Times New Roman">(iv) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the
registrant&#8217;s annual report, pursuant to Section&nbsp;13(a) or 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan&#8217;s annual report pursuant to Section&nbsp;15(d) of the Exchange Act) that is
incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide
offering thereof. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers
and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is,
therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by
controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue. </P>
<P STYLE="font-size:12pt; margin-top:0pt; margin-bottom:0pt">&nbsp;</P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">II-3 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD></TD>

<TD VALIGN="bottom" WIDTH="4%"></TD>
<TD WIDTH="91%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Exhibit<BR>No.</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; " ALIGN="center"><B>Description of
Exhibits</B></P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&#8199;1.1*</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Form of Underwriting Agreement.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&#8199;3.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1596967/000110465914029215/a14-10912_1ex3d1.htm">Amended and Restated Certificate of Incorporation of the Registrant (incorporated by reference to Exhibit 3.1 to the Registrant&#8217;s Current
Report on Form <FONT STYLE="white-space:nowrap">8-K</FONT> filed with the SEC on April 22, 2014).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&#8199;3.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1596967/000119312526192462/mc-ex3_2.htm">Second Amended and Restated Bylaws of the Registrant (incorporated by reference to Exhibit 3.2 to the Registrant&#8217;s Quarterly Report on Form
 <FONT STYLE="white-space:nowrap">10-Q</FONT> filed with the SEC on April&nbsp;29, 2026</A>.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&#8199;4.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="http://www.sec.gov/Archives/edgar/data/1596967/000110465914027271/a14-10382_18a12b.htm">Specimen of Common Stock Certificate (incorporated by reference to the registrant&#8217;s Registration Statement on Form <FONT
STYLE="white-space:nowrap">8-A</FONT> dated April 11, 2014).</A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&#8199;5.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d102217dex51.htm">Opinion of Skadden, Arps, Slate, Meagher&nbsp;&amp; Flom LLP. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&#8199;23.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d102217dex231.htm">Consent of Deloitte&nbsp;&amp; Touche LLP, Independent Registered Public Accounting Firm. </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&#8199;23.2</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d102217dex51.htm">Consent of Skadden, Arps, Slate, Meagher&nbsp;&amp; Flom LLP (included in Exhibit 5.1). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>&#8199;24.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="#sig">Powers of Attorney (included on signature pages hereto). </A></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP>107</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><A HREF="d102217dexfilingfees.htm">Filing Fee Table. </A></TD></TR>
</TABLE> <DIV STYLE="line-height:8.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000;width:11%">&nbsp;</DIV>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="2%" VALIGN="top" ALIGN="left">*</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">To be filed by amendment to the registration statement or incorporated by reference from documents filed or to
be filed with the SEC under the Exchange Act, as amended. </P></TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">II-4 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><A NAME="sig"></A>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Act, the Registrant certifies that it has reasonable grounds to believe that it meets all of
the requirements for filing on Form <FONT STYLE="white-space:nowrap">S-3</FONT> and has duly caused this registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of New York, State of New York on April&nbsp;30, 2026. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="40%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="7%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman"><B>Moelis&nbsp;&amp; Company</B></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/&#8194;NAVID MAHMOODZADEGAN</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Name: Navid Mahmoodzadegan</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Title: <I>Chief Executive Officer</I></TD></TR>
</TABLE></DIV> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In accordance with the requirements of the Securities Act, as amended, this registration statement has
been signed by the following persons in the capacities and on the dates stated. Each person whose signature appears below constitutes and appoints Kenneth Moelis, Navid Mahmoodzadegan, Katherine Pilcher Ciafone, Christopher Callesano and Osamu
Watanabe, and each of them severally, as his or her true and lawful <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorney-in-fact</FONT></FONT> and agent, each acting alone with full power of substitution and resubstitution, for
him or her and in his or her name, place and stead, in any and all capacities, to sign any or all amendments (including post-effective amendments) and exhibits to the registration statement on Form <FONT STYLE="white-space:nowrap">S-3,</FONT> and to
any registration statement filed under SEC Rule 462, and to file the same, with all exhibits thereto, and all documents in connection therewith, with the SEC, granting unto said
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorney-in-fact</FONT></FONT> and agent, full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as
fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">attorney-in-fact</FONT></FONT> and agent, or his or her
substitute or substitutes, may lawfully do or cause to be done by virtue hereof. </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="43%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="15%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center"><B>Signature</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>Title</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>Date</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Navid Mahmoodzadegan</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Navid Mahmoodzadegan</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Chief Executive Officer <BR>(Principal Executive Officer)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;30, 2026</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Kenneth Moelis</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Kenneth Moelis</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Executive Chairman and Director</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;30, 2026</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Christopher Callesano</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Christopher Callesano</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Chief Financial Officer <BR>(Principal Financial Officer)</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;30, 2026</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Nick Riehl</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Nick Riehl</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Principal Accounting Officer</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;30, 2026</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Eric Cantor</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Eric Cantor</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Director</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;30, 2026</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Kenneth L. Shropshire</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Kenneth L. Shropshire</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Director</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;30, 2026</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Laila J. Worrell</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Laila J. Worrell</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Director</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;30, 2026</TD></TR></TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">II-5 </P>

</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">
<h5 align="left" style="font-size:10pt;font-weight:bold"><a href="#toc">Table of Contents</a></h5>


<Center><DIV STYLE="width:8.5in" align="left">

<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt">


<TR>

<TD WIDTH="43%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD WIDTH="38%"></TD>

<TD VALIGN="bottom" WIDTH="2%"></TD>
<TD WIDTH="15%"></TD></TR>

<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ALIGN="center"><B>Signature</B></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>Title</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>Date</B></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Louise Mirrer</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Louise Mirrer</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Director</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;30, 2026</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="bottom"> <P STYLE="margin-top:0pt; margin-bottom:0pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman" ALIGN="center">/s/ Thorold Barker</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">Thorold Barker</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Director</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">April&nbsp;30, 2026</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">II-6 </P>

</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>d102217dex51.htm
<DESCRIPTION>EX-5.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-5.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 5.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">S<SMALL>KADDEN</SMALL>, A<SMALL>RPS</SMALL>, S<SMALL>LATE</SMALL>, M<SMALL>EAGHER</SMALL>&nbsp;&amp; F<SMALL>LOM</SMALL> <SMALL>LLP</SMALL>
</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">ONE MANHATTAN WEST </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">NEW YORK,
NY 10001 </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center><DIV STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</DIV></center>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>

<TD WIDTH="73%"></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD>
<TD></TD>
<TD></TD>

<TD VALIGN="bottom" WIDTH="1%"></TD>
<TD></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ROWSPAN="23">
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;TEL: (212) <FONT
STYLE="white-space:nowrap">735-3000</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;FAX: (212) <FONT
STYLE="white-space:nowrap">735-2000</FONT></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;&#8195;www.skadden.com</P></TD>
<TD VALIGN="bottom" ROWSPAN="8">&nbsp;&nbsp;</TD>
<TD ROWSPAN="8" VALIGN="bottom"></TD>
<TD ROWSPAN="8" VALIGN="bottom"></TD>
<TD ROWSPAN="8" VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">FIRM/AFFILIATE<BR>OFFICES</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">-----------<BR></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">BOSTON</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">CHICAGO</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">HOUSTON</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">LOS ANGELES</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">PALO ALTO</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">WASHINGTON,&nbsp;D.C.</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ROWSPAN="9">&nbsp;&nbsp;</TD>
<TD ROWSPAN="9" VALIGN="bottom"></TD>
<TD ROWSPAN="9" VALIGN="bottom"></TD>
<TD ROWSPAN="9" VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">WILMINGTON</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top" ALIGN="center">------------<BR></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">ABU DHABI</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">BEIJING</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">BRUSSELS</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">FRANKFURT</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">HONG KONG</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">LONDON</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">MUNICH</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">PARIS</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" ROWSPAN="5">&nbsp;&nbsp;</TD>
<TD ROWSPAN="5" NOWRAP VALIGN="top"><FONT STYLE="font-size:10pt">&nbsp;</FONT></TD>
<TD ROWSPAN="5" NOWRAP VALIGN="top" ALIGN="center"><FONT STYLE="font-size:10pt">April&nbsp;30,&nbsp;2026</FONT></TD>
<TD ROWSPAN="5" NOWRAP VALIGN="top"><FONT STYLE="font-size:10pt">&nbsp;</FONT></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">S&#195;O PAULO</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">SEOUL</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">SINGAPORE</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">TOKYO</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center">TORONTO</TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moelis&nbsp;&amp; Company </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">399
Park Avenue, 4th Floor </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, New York 10022 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">Re:</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Moelis&nbsp;&amp; Company <U> </U></P></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left">&#8194;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><U>Registration Statement on Form</U><U></U><U><FONT STYLE="white-space:nowrap">&nbsp;S-3</FONT></U>
</P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Ladies and Gentlemen: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We
have acted as special United States counsel to Moelis&nbsp;&amp; Company, a Delaware corporation (the &#8220;Company&#8221;), in connection with the registration statement on Form <FONT STYLE="white-space:nowrap">S-3</FONT> (the &#8220;Registration
Statement&#8221;) to be filed on the date hereof by the Company with the Securities and Exchange Commission (the &#8220;Commission&#8221;) under the Securities Act of 1933 (the &#8220;Securities Act&#8221;). The Registration Statement relates to the
issuance and sale by the Company from time to time, pursuant to Rule 415 of the General Rules and Regulations of the Commission promulgated under the Securities Act (the &#8220;Rules and Regulations&#8221;), of shares of Class&nbsp;A common stock,
par value $0.01 per share, of the Company (&#8220;Common Stock&#8221;). The Common Stock offered pursuant to the Registration Statement is referred to herein as the &#8220;Securities.&#8221; </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This opinion is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation
<FONT STYLE="white-space:nowrap">S-K</FONT> under the Securities Act. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In rendering the opinions stated herein, we have examined and
relied upon the following: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)&#8195;the Registration Statement; </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moelis &amp; Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April 30, 2026 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 2
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)&#8195;a copy of
the Company&#8217;s Amended and Restated Certificate of Incorporation certified by the Secretary of State of the State of Delaware as of April&nbsp;30, 2026, as being in effect on the date of the resolutions referred to below and as of the date
hereof (the &#8220;Certificate of Incorporation&#8221;); </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(c)&#8195;a copy of the Company&#8217;s bylaws, as amended and in effect on the
date of the resolutions referred to below and as of the date hereof; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(d)&#8195;a copy of certain resolutions of the Board of
Directors of the Company adopted on April&nbsp;27, 2026. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We have also examined originals or copies, certified or otherwise identified to
our satisfaction, of such records of the Company and such agreements, certificates and receipts of public officials, certificates of officers or other representatives of the Company and others, and such other documents as we have deemed necessary or
appropriate as a basis for the opinions stated below. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">In our examination, we have assumed the genuineness of all signatures, including
electronic signatures, the legal capacity and competency of all natural persons, the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted to us as facsimile, electronic,
certified or photocopied copies, and the authenticity of the originals of such copies. As to any facts relevant to the opinions stated herein that we did not independently establish or verify, we have relied upon statements and representations of
officers and other representatives of the Company and others and of public officials, including the facts and conclusions set forth in the Certificate of Incorporation. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We do not express any opinion with respect to the laws of any jurisdiction other than the General Corporation Law of the State of Delaware
(the &#8220;DGCL&#8221;). The Securities may be issued from time to time on a delayed or continuous basis, and this opinion is limited to the laws, including the rules and regulations, as in effect on the date hereof, which laws are subject to
change with possible retroactive effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As used herein, &#8220;Transaction Documents&#8221; means any applicable underwriting or
purchase agreement. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The opinion stated below presumes that all of the following (collectively, the &#8220;general conditions&#8221;)
shall have occurred prior to the issuance of the Securities referred to therein: (i)&nbsp;the Registration Statement, as finally amended (including all necessary post-effective amendments), has become effective under the Securities Act; (ii)&nbsp;an
appropriate prospectus supplement or term sheet with respect to such Securities has been prepared, delivered and filed in compliance with the Securities Act and the applicable Rules and Regulations; (iii)&nbsp;the applicable Transaction Documents
shall have been duly authorized, executed and delivered by the Company and the other parties thereto, including, if such Securities are to be sold or otherwise distributed pursuant to a firm commitment underwritten offering, the underwriting
agreement or purchase agreement with respect thereto; (iv)&nbsp;the Board of Directors of the Company, including </P>
</DIV></Center>


<p style="margin-top:1em; margin-bottom:0em; page-break-before:always"> </p>
<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moelis &amp; Company </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April 30, 2026 </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"> Page
 3
 </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">any duly authorized committee
thereof, shall have taken all necessary corporate action to approve the issuance and sale of such Securities and related matters and appropriate officers of the Company have taken all related action as directed by or under the direction of the Board
of Directors of the Company; and (v)&nbsp;the terms of the applicable Transaction Documents and the issuance and sale of such Securities have been duly established in conformity with the certificate of incorporation of the Company so as not to
violate any applicable law, the certificate of incorporation of the Company or the bylaws<I> </I>of the Company, or result in a default under or breach of any agreement or instrument binding upon the Company or its properties, and so as to comply
with any requirement or restriction imposed by any court or governmental body having jurisdiction over the Company or its properties. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Based upon the foregoing and subject to the qualifications and assumptions stated herein, we are of the opinion that with respect to any
shares of Common Stock offered by the Company (the &#8220;Offered Common Stock&#8221;) when (a)&nbsp;the general conditions shall have been satisfied, (b)&nbsp;if the Offered Common Stock is to be certificated, certificates in the form required
under the DGCL representing the shares of Offered Common Stock are duly executed and countersigned or, if the Offered Common Stock is to be issued in uncertificated form, a resolution of the Board of Directors has duly authorized the issuance of the
Offered Common Stock in uncertificated form and (c)&nbsp;the shares of Offered Common Stock are registered in the Company&#8217;s share registry and delivered upon payment of the agreed-upon consideration therefor, the shares of Offered Common
Stock, when issued and sold or otherwise distributed in accordance with the provisions of the applicable Transaction Document, will be duly authorized by all requisite corporate action on the part of the Company under the DGCL and validly issued,
fully paid and nonassessable, provided that the consideration therefor is not less than $0.01 per share of Common Stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The opinion
stated herein is subject to the following assumptions and qualifications: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(a)&#8195;this opinion letter shall be interpreted in
accordance with customary practice of United States lawyers who regularly give opinions in transactions of this type; and </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">(b)&#8195;we
have assumed that the laws of the State of New York law will be chosen to govern any Transaction Documents entered into subsequent to the date hereof and that such choice is and will be a valid and legal provision. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">We hereby consent to the reference to our firm under the heading &#8220;Legal Matters&#8221; in the prospectus forming part of the
Registration Statement. We also hereby consent to the filing of this opinion letter with the Commission as an exhibit to the Registration Statement. In giving this consent, we do not thereby admit that we are within the category of persons whose
consent is required under Section&nbsp;7 of the Securities Act or the Rules and Regulations. This opinion letter is expressed as of the date hereof unless otherwise expressly stated, and we disclaim any undertaking to advise you of any subsequent
changes in the facts stated or assumed herein or of any subsequent changes in applicable laws. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Very truly yours, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:55%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">/s/ Skadden, Arps, Slate, Meagher and Flom LLP </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">MJH </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>d102217dex231.htm
<DESCRIPTION>EX-23.1
<TEXT>
<HTML><HEAD>
<TITLE>EX-23.1</TITLE>
</HEAD>
 <BODY BGCOLOR="WHITE" STYLE="line-height:Normal">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 23.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">We consent to the incorporation by reference in this Registration Statement on Form S-3 of our reports dated February&nbsp;26, 2026, relating to the financial
statements of Moelis &amp; Company and subsidiaries (the &#8220;Company&#8221;) and the effectiveness of the Company&#8217;s internal control over financial reporting, appearing in the Annual Report on Form 10-K of the Company for the year ended
December&nbsp;31, 2025. We also consent to the reference to us under the heading &#8220;Experts&#8221; in the Prospectus, which is part of this Registration Statement. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Deloitte &amp; Touche LLP </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">New York, NY </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April&nbsp;30, 2026 </P>
</DIV></Center>

</BODY></HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-FILING FEES
<SEQUENCE>4
<FILENAME>d102217dexfilingfees.htm
<DESCRIPTION>EX-FILING FEES
<TEXT>
<XBRL>
<?xml version='1.0' encoding='ASCII'?>
<html xmlns="http://www.w3.org/1999/xhtml" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xbrli="http://www.xbrl.org/2003/instance" xmlns:xbrldi="http://xbrl.org/2006/xbrldi" xmlns:iso4217="http://www.xbrl.org/2003/iso4217" xmlns:ix="http://www.xbrl.org/2013/inlineXBRL" xmlns:ixt="http://www.xbrl.org/inlineXBRL/transformation/2015-02-26" xmlns:ixt-sec="http://www.sec.gov/inlineXBRL/transformation/2015-08-31" xmlns:link="http://www.xbrl.org/2003/linkbase" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xmlns:dei="http://xbrl.sec.gov/dei/2026" xmlns:ffd="http://xbrl.sec.gov/ffd/2026">
<head>
<title>EX-FILING FEES</title>
</head>
  <body>
  <div style="display: none"> <ix:header> <ix:hidden> <ix:nonNumeric name="ffd:FormTp" contextRef="rc" id="ixv-328">S-3</ix:nonNumeric> <ix:nonNumeric name="ffd:SubmissnTp" contextRef="rc" id="ixv-329">S-3ASR</ix:nonNumeric> <ix:nonNumeric name="ffd:FeeExhibitTp" contextRef="rc" id="ixv-330">EX-FILING FEES</ix:nonNumeric> <ix:nonNumeric name="dei:EntityCentralIndexKey" contextRef="rc" id="ixv-331">0001596967</ix:nonNumeric> <ix:nonNumeric name="dei:EntityRegistrantName" contextRef="rc" id="ixv-332">Moelis &amp; Co</ix:nonNumeric> <ix:nonNumeric name="ffd:OfferingTableNa" contextRef="rc" id="hiddenrcOfferingTableNa" xsi:nil="true"></ix:nonNumeric> <ix:nonNumeric name="ffd:OffsetTableNa" contextRef="rc" id="hiddenrcOffsetTableNa">N/A</ix:nonNumeric> <ix:nonNumeric name="ffd:CombinedProspectusTableNa" contextRef="rc" id="hiddenrcCombinedProspectusTableNa">N/A</ix:nonNumeric> </ix:hidden> <ix:references> <link:schemaRef xlink:href="https://xbrl.sec.gov/ffd/2026/ffd-2026.xsd" xlink:type="simple"/> </ix:references> <ix:resources> <xbrli:context id="rc"> <xbrli:entity> <xbrli:identifier scheme="http://www.sec.gov/CIK">0001596967</xbrli:identifier> </xbrli:entity> <xbrli:period> <xbrli:startDate>2026-04-29</xbrli:startDate> <xbrli:endDate>2026-04-29</xbrli:endDate> </xbrli:period> </xbrli:context> <xbrli:context id="offrl_1"> <xbrli:entity> <xbrli:identifier scheme="http://www.sec.gov/CIK">0001596967</xbrli:identifier> <xbrli:segment> <xbrldi:typedMember dimension="ffd:OfferingAxis"> <dei:lineNo>1</dei:lineNo> </xbrldi:typedMember> </xbrli:segment> </xbrli:entity> <xbrli:period> <xbrli:startDate>2026-04-29</xbrli:startDate> <xbrli:endDate>2026-04-29</xbrli:endDate> </xbrli:period> </xbrli:context> <xbrli:unit id="USD"> <xbrli:measure>iso4217:USD</xbrli:measure> </xbrli:unit> <xbrli:unit id="pure"> <xbrli:measure>xbrli:pure</xbrli:measure> </xbrli:unit> <xbrli:unit id="Shares"> <xbrli:measure>xbrli:shares</xbrli:measure> </xbrli:unit> </ix:resources> </ix:header> </div> <div>
<table style="width: 99%; font-family: Arial, Helvetica, sans-serif; font-size: 20pt; text-align: center;">
<tr>
<td colspan="4" style="padding-bottom: .5em"> <p> <b>Calculation of Filing Fee Tables</b> </p> </td> </tr>
<tr>
<td style="padding-bottom: .25em"> <p> <b> <ix:nonNumeric name="ffd:FormTp" contextRef="rc" id="ixv-360">S-3</ix:nonNumeric> </b> </p> </td> </tr>
<tr>
<td style="padding-bottom: .25em"> <p> <b> <ix:nonNumeric name="dei:EntityRegistrantName" contextRef="rc" id="ixv-361">Moelis &amp; Co</ix:nonNumeric> </b> </p> </td> </tr> </table> </div> <div style="padding-bottom: 20px;">
<table style="float: center; width: 100%; text-align: left; ">
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px">
<th style="vertical-align: bottom; text-align: left; word-wrap: break-word"> <b>Table 1: Newly Registered and Carry Forward Securities</b> </th>
<th style="vertical-align: bottom; word-wrap: break-word; text-align: right;"> <span style="-sec-ix-hidden: hiddenrcOfferingTableNa">&#9744;Not Applicable</span> </th> </tr> </table>
<table style="font-family: Arial, Helvetica, sans-serif; float: center; width: 100%; text-align: center; border: 1px solid black; font-size: 16px;">
<tr style="background-color:#9ADAF6">
<th style="width: 12%;">
 </th>
<th style="width: 2%;">
 </th>
<th style="width: 12%;"> <p style="margin: 0pt; text-align: center;"> <b>Security Type</b> </p> </th>
<th style="width: 14%;"> <p style="margin: 0pt; text-align: center;"> <b>Security Class Title </b> </p> </th>
<th style="width: 2%;"> <p style="margin: 0pt; text-align: center;"> <b>Fee Calculation or Carry Forward Rule</b> </p> </th>
<th style="width: 5%;"> <p style="margin: 0pt; text-align: center;"> <b>Amount Registered</b> </p> </th>
<th style="width: 15%;"> <p style="margin: 0pt; text-align: center;"> <b>Proposed Maximum Offering Price Per Unit</b> </p> </th>
<th style="width: 10%;"> <p style="margin: 0pt; text-align: center;"> <b>Maximum Aggregate Offering Price</b> </p> </th>
<th style="width: 5%;"> <p style="margin: 0pt; text-align: center;"> <b>Fee Rate</b> </p> </th>
<th style="width: 6%;"> <p style="margin: 0pt; text-align: center;"> <b>Amount of Registration Fee</b> </p> </th>
<th style="width: 1%;"> <p style="margin: 0pt; text-align: center;"> <b>Carry Forward Form Type</b> </p> </th>
<th style="width: 7%;"> <p style="margin: 0pt; text-align: center;"> <b>Carry Forward File Number</b> </p> </th>
<th style="width: 6%;"> <p style="margin: 0pt; text-align: center;"> <b>Carry Forward Initial Effective Date</b> </p> </th>
<th style="width: 7%;"> <p style="margin: 0pt; text-align: center;"> <b>Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward</b> </p> </th> </tr>
<tr>
<td colspan="14" style="text-align: center"> <b>Newly Registered Securities</b> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> <ix:nonNumeric name="ffd:PrevslyPdFlg" contextRef="offrl_1" format="ixt:booleanfalse" id="ixv-362">Fees to be Paid</ix:nonNumeric> </td>
<td style="text-align: center;"> 1 </td>
<td style="text-align: left;"> <ix:nonNumeric name="ffd:OfferingSctyTp" contextRef="offrl_1" id="ixv-363">Equity</ix:nonNumeric> </td>
<td style="text-align: left;"> <ix:nonNumeric name="ffd:OfferingSctyTitl" contextRef="offrl_1" id="ixv-364">Class A Common Stock, par value $0.01 per share ("Class A Common Stock")</ix:nonNumeric> </td>
<td style="text-align: center;"> <ix:nonNumeric name="ffd:Rule457rFlg" contextRef="offrl_1" format="ixt:booleantrue" id="ixv-365">457(r)</ix:nonNumeric> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> <ix:nonFraction name="ffd:FeeRate" unitRef="pure" decimals="7" format="ixt:numdotdecimal" contextRef="offrl_1" id="ixv-366">0.0001381</ix:nonFraction> </td>
<td style="text-align: right;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Fees Previously Paid </td>
<td style="text-align: center;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr>
<td colspan="14" style="text-align: center"> <b>Carry Forward Securities</b> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Carry Forward Securities </td>
<td style="text-align: center;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td colspan="3" style="vertical-align: top"> <p style="margin: 0pt; text-align: right">Total Offering Amounts:</p> </td>
<td>
 </td>
<td style="vertical-align: top; width: 16%;"> <p id="MaxAggtOfferingPrice" style="margin: 0pt; text-align: right"> <span>$</span> <ix:nonFraction name="ffd:TtlOfferingAmt" contextRef="rc" decimals="2" format="ixt:numdotdecimal" unitRef="USD" id="ixv-367">0.00</ix:nonFraction> </p> </td>
<td>
 </td>
<td style="vertical-align: top; border-bottom: 1px black; width: 16%;"> <p id="TotalFeeAmt" style="margin: 0pt; text-align: right"> <span>$</span> <ix:nonFraction name="ffd:TtlFeeAmt" contextRef="rc" decimals="2" format="ixt:numdotdecimal" unitRef="USD" id="ixv-368">0.00</ix:nonFraction> </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td>
 </td> </tr>
<tr>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td colspan="3" style="vertical-align: top"> <p style="margin: 0pt; text-align: right"> Total Fees Previously Paid: </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td style="vertical-align: top"> <p id="TotalPreviouslyPaidAmt" style="margin: 0pt; text-align: right"> <span>$</span> <ix:nonFraction name="ffd:TtlPrevslyPdAmt" contextRef="rc" decimals="2" format="ixt:numdotdecimal" unitRef="USD" id="ixv-369">0.00</ix:nonFraction> </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td>
 </td> </tr>
<tr>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td colspan="3" style="vertical-align: top"> <p style="margin: 0pt; text-align: right"> Total Fee Offsets: </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td style="vertical-align: top"> <p id="TotalOffsetAmt" style="margin: 0pt; text-align: right"> <span>$</span> <ix:nonFraction name="ffd:TtlOffsetAmt" contextRef="rc" decimals="2" format="ixt:numdotdecimal" unitRef="USD" id="ixv-370">0.00</ix:nonFraction> </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td>
 </td> </tr>
<tr>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td colspan="3" style="vertical-align: top"> <p style="margin: 0pt; text-align: right"> Net Fee Due: </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td style="vertical-align: top"> <p id="NetFeeAmt" style="margin: 0pt; text-align: right"> <span>$</span> <ix:nonFraction name="ffd:NetFeeAmt" contextRef="rc" decimals="2" format="ixt:numdotdecimal" unitRef="USD" id="ixv-371">0.00</ix:nonFraction> </p> </td>
<td>
 </td>
<td>
 </td>
<td>
 </td>
<td>
 </td> </tr> </table> </div> <div>
<table style="width: 100%; text-indent: 0px;"> <tbody>
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; vertical-align: top;">
<td> <p style="margin:0pt;text-align:left; margin-bottom: 5px;"> <b>Offering Note</b> </p> </td>
<td/> </tr> </tbody> </table> </div> <div style="padding-bottom: 20px;">
<table style="width: 100%; text-indent: 0px;">
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; vertical-align: top;">
<td style="width:10pt;"> <p style="margin:0pt;text-align:left;"> <sup style="vertical-align:top;line-height:120%;font-size:10px">1</sup> </p> </td>
<td colspan="7" style="white-space: pre-line;"> <ix:nonNumeric name="ffd:OfferingNote" escape="1" contextRef="offrl_1" id="ixv-372">(1) Omitted pursuant to Form S-3 Instructions to the Calculation of Filing Fee Tables and Related Disclosure 2(A)(iii)(c). (2) In accordance with Rule 456(b) and Rule 457(r), the registrant is deferring payment of all of the registration fees and will pay any applicable registration fees on a "pay as you go" basis. The registrant will calculate the registration fee applicable to an offer of securities hereunder based on the fee payment rate in effect on the date of such fee payment.</ix:nonNumeric> </td> </tr>
<tr>
<td colspan="7"> <hr style="width:100%;text-align:left;margin-left:0"/> </td> </tr> </table> </div> <div style="padding-bottom: 20px;">
<table style="float: center; width: 100%; text-align: left; ">
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px">
<th style="vertical-align: bottom; text-align: left; word-wrap: break-word"> <b>Table 2: Fee Offset Claims and Sources</b> </th>
<th style="vertical-align: bottom; word-wrap: break-word; text-align: right;"> <span style="-sec-ix-hidden: hiddenrcOffsetTableNa">&#9745;Not Applicable</span> </th> </tr> </table>
<table style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; float: center; width: 100%; text-align: center; border: 1px solid black;">
<tr style="background-color:#9ADAF6">
<th style="width: 10%; text-align: left;">
 </th>
<th style="width: 8%; text-align: left;">
 </th>
<th style="width: 16%;"> Registrant or Filer Name </th>
<th style="width: 6%;"> Form or Filing Type </th>
<th style="width: 7%;"> File Number </th>
<th style="width: 6%;"> Initial Filing Date </th>
<th style="width: 6%;"> Filing Date </th>
<th style="width: 6%;"> Fee Offset Claimed </th>
<th style="width: 6%;"> Security Type Associated with Fee Offset Claimed </th>
<th style="width: 8%;"> Security Title Associated with Fee Offset Claimed </th>
<th style="width: 6%;"> Unsold Securities Associated with Fee Offset Claimed </th>
<th style="width: 9%;"> Unsold Aggregate Offering Amount Associated with Fee Offset Claimed </th>
<th style="width: 6%;"> Fee Paid with Fee Offset Source </th> </tr>
<tr>
<td colspan="14" style="text-align: center"> <b>Rules 457(b) and 0-11(a)(2)</b> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Fee Offset Claims </td>
<td> </td>
<td style="text-align: left;"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Fee Offset Sources </td>
<td> </td>
<td style="text-align: left;"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr>
<td colspan="14" style="text-align: center"> <b>Rule 457(p)</b> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Fee Offset Claims </td>
<td> </td>
<td style="text-align: left;"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td> </tr>
<tr style="background-color:#E7E7E2">
<td style="text-align: left;"> Fee Offset Sources </td>
<td> </td>
<td style="text-align: left;"> </td>
<td> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: left;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td> </tr> </table> </div> <div style="padding-bottom: 20px;">
<table style="float: center; width: 100%; text-align: left; ">
<tr style="font-family: Arial, Helvetica, sans-serif; font-size: 16px">
<th style="vertical-align: bottom; text-align: left; word-wrap: break-word"> <b>Table 3: Combined Prospectuses</b> </th>
<th style="vertical-align: bottom; word-wrap: break-word; text-align: right;"> <span style="-sec-ix-hidden: hiddenrcCombinedProspectusTableNa">&#9745;Not Applicable</span> </th> </tr> </table>
<table style="font-family: Arial, Helvetica, sans-serif; font-size: 16px; float: center; width: 100%; border: 1px solid black;">
<tr style="background-color:#9ADAF6">
<th style="width: 4%">
 </th>
<th style="width: 14%"> <p style="margin: 0pt; text-align: center;"> <b>Security Type</b> </p> </th>
<th style="width: 25%"> <p style="margin: 0pt; text-align: center;"> <b>Security Class Title</b> </p> </th>
<th style="width: 14%"> <p style="margin: 0pt; text-align: center;"> <b>Amount of Securities Previously Registered</b> </p> </th>
<th style="width: 18%"> <p style="margin: 0pt; text-align: center;"> <b>Maximum Aggregate Offering Price of Securities Previously Registered</b> </p> </th>
<th style="width: 6%"> <p style="margin: 0pt; text-align: center;"> <b>Form Type</b> </p> </th>
<th style="width: 10%"> <p style="margin: 0pt; text-align: center;"> <b>File Number</b> </p> </th>
<th style="width: 8%"> <p style="margin: 0pt; text-align: center;"> <b>Initial Effective Date</b> </p> </th> </tr>
<tr style="background-color:#E7E7E2;">
<td style="text-align: center;"> </td>
<td> </td>
<td> </td>
<td style="text-align: right;"> </td>
<td style="text-align: right;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td>
<td style="text-align: center;"> </td> </tr> </table> </div> </body></html>
</XBRL>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>g102217g11a02.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g102217g11a02.jpg
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M*"@H*"@H*"@H*"@H*"@H*/_  !$( &(!:0,!(@ "$0$#$0'_Q  =   #  ,
M P$             !P@%!@D! P0"_\0 3Q   0(%  8$" D)!0@#     0(#
M  0%!A$'"!(A,5%!87&!$Q0B,C=TD;(5%A@V4G6"H;$T0E5B<J*SP=(C)#-3
MDA<G5)/"T^'P0T31_\0 & $  P$!                  $" P3_Q  B$0 "
M P # 0$!  ,!         0(#$1(A,3(B01-"46'_V@ , P$  A$#$0 _ *H*
M@.) [8\;:/I)]L:1I=L)F_+<,LESP%2ELN2;V3@*/%*OU58 ZMQZ,1%-6DIZ
MD5*9I]2;=EYR766W6U\4D?\ O'IC6%:G_1-X=#=M'TD^V/(4D\"#V&.<OA%_
M35[8VW17=KMH7O3JHIQ?BH7X*:3GSFE;E>S<H=8$4Z.O1<B[H(_+3B'6T.-*
M"VU@*2I)R"#P(C]1@4$$$$ !!!'X?=;89<>>6E#3:2M:E' 2 ,DF #]%21Q(
M':8\;:/I)]L0?I-NQZ[[TJ56VUB76OP<L@G&RTG<G=UC>>LF-6\(OZ:O;&ZH
MZ])Y'1G;1])/MC] @C(((B K)MNIWA<,M2*4%%UTY6X<[+2!Q6KJ'W[ATQ<=
MFVY)VG;DG1Z=MEF73O6LY4XH[U*/63OB)P4/Z-/3-0001F,(((( """"  @@
M@@ (((( """"  @@@@ (((Q5U4A5>M^=IC<]-2"YA&RF9E5E#C9SD$$=&[>.
MD9$ 'NJM9IE(:\)5:C)R3?TIAY+8^\QH-<TY6/2MI+=2=J#J?S)-E2OWCA/W
MQ*5_VS6+5N.8I]?VUS'GH?*BI+Z,[EI)X@_<=QC7(Z8TKW2.19&C?3'*7U=K
MM'DJ0_*LIEUOA]YX%1V5)&-D#=YW.&K$B:JGI,>^KW?>1%=QE9%1EB*3T#N&
M3PA0W;I]M>ASSDG(MS-6>;.RMR7V4M \@LG?V@$=<9W3Y59FD:*ZT_)+4AYT
M(E]M/%*5K"5?<2.^(CBJJU):Q-X698NFZV+JJ#5/7XQ3)YTA+2)H#8<4>"4K
M!QGJ.,]$-&.<:24D%)((W@B+TT6U68K>CV@5"=4I4R]*I\(I7%:AY)4>W&>^
M"VM1[0)Z;1!!!&)00000 $$$$ !!!!  1.&MS29)I-"JC3"43[RW&'74[BM"
M0"D'GC)W]<4?"/UFP%/V0% $&I$$'M1&E7T)^$I01O&F6T39U]S\BT@ID7CX
MS*'H\&HGR?LG*>Z-'CK3U:06%JUW=\8;&339ES:GZ00PK)WJ:/\ AGN *?L]
M<-N(?T)7=\4+]DIEYS8I\T?%9K)W!"CN4?V3@]@,7 -XW1R6QXR+B^@@@@C,
M80H-9B[C0K*%(E%XGZN2SA/%+(\\]^0GO/*&^2$@E1  WDF)HD0=)NDFZ+F=
M!<H="DW6I,'S5*"%!!'?M.=NS%UKO7_!,GF""".TS*WU5Z5)R^C]RI-,)$]-
M3*T.O?G*2G 2GL&_VPYH4VJ_Z*V/6WOQ$-F.*?TS1>!!!!$#""/"E!*2I1 2
M.),?,FI2*G-A,[+%?T0ZG/LS !]4$''A!  0000 $$$$ !!!'JF)EB6&9A]I
MH<UK"?Q@ ]L$>F7FI>9!,L^T\!_EK"OPCW0 $$$$ $MZW7SKH?J2OXAA#0^=
M;KYUT/U)7\0PAH[:OE&;]'%JJ>DQ[ZO=]Y$5W$B:JGI,>^KW?>1%=QSW?14?
M##7E;\M=-L5&BSI*69MO8VP,E"@<I4.Q0![HBZ[=&=U6S/.,3=(FIAE)PB9E
M6E.M+'0<@;NPX,75!"A8X#:TB&QM$]T7546FS3IFGR&T/"S<TT6TI3T[(."H
M]0[\1:-$ILO1J1)4V224RTHREEL'CLI&!GKW1]JB$@E1  WDF/"%)6@*0H*2
M1D$'((A3FY@EAY@@@B!A!!'SOS\HP</S4NT>2W G\3 !]$$>MB89?&6'FW1S
M0H*_"/9  0000 $)#69_*+'^L_YHAWPD-9G\HL?ZS_FB+K^A/PR.LM:'Q@LD
MU25;VI^D$O;AO4R?\0=V K[)YQ($=&W6T/-+;=2E;:TE*DJ&00>(,0CI4M1=
MFWM4:5LJ\6"O"RJC^<RK)3VXWI/6DQM1+KB3)&I1:FK_ '=\:K EDS#FU4*=
MB4F,G>H >0OO3C?S!B*X9VKU=WQ7OZ79F'-FGU/$J]D[DJ)\A7<K=V*,79'E
M$$\+/@@@CC+%AK#7:;;L1V4E%D5*K$RC(3YP21Y:AW'':H1]%D6D+-T/S%.<
M0$SKDD],39Z2ZILY'< $_9C1*9_O1T\OSQ_M;>MK"6NE*W$J.R?M+!5UA AW
MW3\V:OZF][BHT?Y2B)'/6""".PS+$U7_ $5L>MO?B(;,*;5?]%;'K;WXB&N\
MXAEI;KRTH;0DJ4I1P$@<23'%/Z9HO#XZW5I"ATQ^H5::;E9-D;2W7#@#JZSR
M WF)JT@ZPM2G7792SF1(2@) FWDA3R^L).Y(]I[(TO35I&F;YN!;<LXM%"E%
ME,JSP"^CPJAS/1R&[GE=(2I:TI0"I2C@ =)C:NI+N1+8Y=%MCUS2M./5.Z*Q
M45T9A>PIQ;Q6MY?$H1M9"0,C)QT@ <G/,:"+$=DBPW39AES&!,-S3FV#SWDI
M^Z-RL.@-6Q:%*H[24@RS"4N$?G.'>M7>HDQGHRE8V^BDB-;ZI-V:(;A;9I=<
MGT4]_*Y5]MPA#@'%*T9V=H;LC&-X,;YHXUAE+>:D;X90$J(2*A+IQCK<0/Q3
M[(9.G^W47!HSJA" J9D$^.LJQO&QG:]J-K[HB>-H)61[)?1T8E)EF<EFIF4>
M;>EW4A;;C:@I*DG@01Q$>V)-U=-)3M!K#-N5=\JH\ZO984L[I9TG=CDE1W$=
M!(//-91A.#B\*3T(U/2)?M&L6EB:JSI7,. ^+RC>]QXCER',G=W[HRUV5Z4M
MBW9^L5!6)>4;*R =ZSP2D=9. .V(2O&Y:A=EP356JKI6^\KR4Y\EI'0A(Z /
M_/&*KKY>^ WAN=Z::KMN1]Q$K.+I,B3A+$DHI5C]9SSB>S ZH:&CW0/*3M)9
MJ=]OSLS49I(<,L'2D- \ M7G%7/>,<-\)O0E0T7!I-HDH\@+EVW3,N@C(*6P
M58/42 .^+DB[)</S$26^DNZ9-#C=H4HW%:$S-IEI=0\884YE;0)P%H4,' .,
M@[]^<QJMAZ;+HMI]MN?F5UBG @*8FUE2P/U7#O![<CJBOJ]3FZO1*A3GP"U-
MR[C"@>2DD?SCGDZVIIU;:QA2"4D=8AUOFLD)]%^61=M*O*B-U.BO[;9\EQI6
MY;*_HJ'0?N/1&?B&]#M[/61>$M-*<5\&3"@S.MYW%LGSL<T\1WCIBXT*2M(4
M@A22,@C@1&5D.+*3TES6Z^==#]25_$,(:'SK=?.NA^I*_B&$-'35\HA^CBU5
M/28]]7N^\B*[B1-53TF/?5[OO(BNXY[OHJ/@D-)&G.9M*N35(;MA\3#1(2]-
MO;"'$YW+2$@[23VCVPIZWI[O:H[29:9E*:V>B58&<=J]H^R*5TK6G2;IM*>3
M59<+=E6''I=].YQI023N/(XWC@8A2-*E&2\$],Q6KGKM;)-7K$_. _FO/J4D
M=@)P(M?1%Z,;8]0:]V(0B[]$/HQMCU!KW8+O$$3;H2NF'3:S:TV]1K<::G*N
MWY+SSF]J7/T<#SE=7 =.=XADZ0ZVNW+(K=6:(#TM+*4T3_F'<G]XB(&>=6\Z
MMUY:EN+45*4HY*B=Y),15!2[8V\&#1ZE>FE*ZI>D.UR<<5,$J7EPH9:0-ZE%
M"<#<.K><#IB@J)H%LN1E$HJ$M,U.8QY;S[ZT9/4E!  ]O;"=U5JC*26D688F
ME)0[.22V6%*Z5A2%;([0D^R*YAVR<7B"*)CTUZ($6S(?&&R?&&95@?WJ62XI
M2FA_F)43G',9W<>&<+&@Z4+RHBD^)7!.K;3_ /',K\.C'+"\X[HNAUM#S2VG
M4)6VM)2I*AD*!X@B(STLZ-'K8O\ E9"00KX*JSZ1)+X[)4H MGK22.XCKAUS
MY=2!K/"M[/G)RH6K1YVJ! GIF4:>>#:=E(4I() '1QC+Q^&&D,,-LM#9;;2$
M)'( 8$?N.<H(2&LS^46/]9_S1#OA(:S/Y18_UG_-$77]"?@[X2NM#:'PQ:;5
M>E&\SE*/]I@;U,*._P#TG![-J'5'JFY9F<E'I:9;2XP\@MN(4-RDD8(/<849
M<7HV<YX 2""#@B-CTB6R]:-X5*CO;10PYEE9_/:.]"O9C/6#&N1VI[V9ER:%
M[M%XV'(SKSFU/L#Q:;Y^$2!Y1_:&%=\?/ISN[XI6#..R[FS49W^Z2N#O"E Y
M4/V4Y/;B$%JSW=\ 7M\%33FS(U<!G>=R7A_AGOR4_:'*-^J7^]#3RU)#^UM^
MV<J=Z4N.!6\=ZP$]808YG#)=^%;T,#0;:/Q1L*39F&]FH3G]ZFLC>%*&Y)_9
M3@=N8VVZ?FS5_4WO<5&3C&73\V:OZF][BHRW7I1SU@@@CO,BQ-5_T5L>MO?B
M(\ZR]QKH>CIR4EEE$Q5'1*Y!WAO!4OV@!/VH\:K_ **V/6WOQ$:%K?S*C/VS
M+9\A+3[F.LE _P"F.5+;"_X3Q&R:-)(5'2!;DJL90Y/L[0YI"P3]P,:W&]Z"
MTA>EBVP>'C!/L0HQTR\9*+B@@@C@-#TSLLB<DIB5>&6WFU-J'400?QCG9,-*
M8?<:7N6VHH/:#B.C,<][L;#5TUEL<$3KR?8M4=%'])D8H$@@@X(B[=$-Q+NC
M1Y1JD^O;FBUX%\GB7$$I)/;C:[XA**OU2YE3EA5)A1R&:BHI["VC_P#(JY?G
M11,)K<7 MN6HMOLK(2Z53CX'2!Y*.[.W[!$UPVM:":4_I3?;4<B7E&6AU @K
M_P"LPI8NM9%"?H[=4R6#M_U&84,^!IRP.HJ<;'X Q6$2!JX6\+BKM88^&*O2
MU-RR5A=-F/ J6-O!"C@Y'"'C,:'I.8SXQ=]Y.Y^G4]K\41A:ER[94?!G1SWN
MML,W16&D[@B<>2.Y:HJB8T 6[,9\8K5R.Y^G-H5^+<?-\G&T?^/KG_/:_P"W
M!7*,/Z#39)<73H7JJZQHPMZ:=45."6#"B>)+9+>3_IC2ODXVC_Q]<_Y[7_;A
MF61:\E9]NR]&ICLP[*L*6I*IA04ORE%1W@ <3RAV3C)= EA/&MU\ZZ'ZDK^(
M80T/G6Z^==#]25_$,(:-JOE$OT<6JIZ3'OJ]WWD17<2)JJ>DQ[ZO=]Y$5W'/
M=]%1\,9=/S8K'J;WN*CGK'0JZ?FQ6/4WO<5'/6-*/&$@B[]$/HQMCU!KW8A"
M+OT0^C&V/4&O=@O\%$]&FF0=J6BVY)=A)4X);PH XD(4%G[DQ"\='%I2M"DK
M 4E0P01D$1'.F[19-V=57ZE2V%NV\^O:0M(SXL2?,5R'(]W&%1)+\CDA6RS[
MLK,-/RSBVGVE!:'$'"DJ!R"#T&*1T::P;*FF9"^&U-NC"146492KK<0-X/6G
M/8(FJ"-I04O24\.B5*J<C5Y)N<I<VQ-RKGFNLK"TGO$?BK4B0JWBGPC*MS'B
MDPB:8*N+;J3E*A$%6M=-:M:>$U0:B_)N9&TE!RA?4I)W*[Q%,:*M.LC<3S-+
MN=#5.JB\);?2<,/*Y;_,4>1W'GT1S2J<>T4GHZX(((R*"$AK,_E%C_6?\T0[
MX2&LS^46/]9_S1%U_0GX.^"""(&(C6IM#X0H$K<LHWF8IY\#,X&]3*CN/V5'
M]X\HEF.BE4D9>ITV:D)UL.2TRTIEU!Z4J&"/OB!KUMZ8M:Z:E1IO)7*NE*5$
M8VT'>E7>D@QTTRU81)&'9<6RZAUE:D.(4%)4DX*2.!!BS=7RTC;5B,S,V@BI
MU4B;F"KS@DCR$GL!SVJ,33H6M$WA?DC)O(VI"7/C,WR\&DCR?M'">\\HN,
M  8 A72_U'%!&,NGYLU?U-[W%1DXQET_-FK^IO>XJ,$4<]8((([S(L35?]%;
M'K;WXB-,UOI!1;MJH)!V$EYA9Y$[*D_@J-SU7_16QZV]^(C/Z:[47=VC^H24
MLC;GF,34J.DN(SY(ZRDJ3VD1R;EFE_PAR-XT(.AG2M;2E' ,SL?ZDD?SC2%
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MRV+,J+]4>"53#*V&&D[UNK4D@!([\D] B$8IK2%H>O6]KA>J52KE)\&"4R[
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@  0000 $$$$ !!!!  0000 $$$$ !!!!  0000 ?_]D!

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>6
<FILENAME>g102217g19a19.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g102217g19a19.jpg
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M(" @(" @(" @(" @(" @(" @(" */#]X<&%C:V5T(&5N9#TB=R(_/O_; $,
M!@0%!@4$!@8%!@<'!@@*$ H*"0D*% X/#! 7%!@8%Q06%AH=)1\:&R,<%A8@
M+" C)B<I*BD9'RTP+2@P)2@I*/_; $,!!P<'"@@*$PH*$R@:%AHH*"@H*"@H
M*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*"@H*/_
M !$( &(!:0,!(@ "$0$#$0'_Q  =   #  ,  P$             !P@%!@D!
M P0"_\0 3Q   0(%  8$" D)!0@#     0(#  0%!A$'"!(A,5%!87&!$Q0B
M,C=TD;(5%A@V4G6"H;$T0E5B<J*SP=(C)#-3DA<G5)/"T^'P0T31_\0 & $
M P$!                  $" P3_Q  B$0 " P # 0$!  ,!         0(#
M$1(A,3(B01-"46'_V@ , P$  A$#$0 _ *H*@.) [8\;:/I)]L:1I=L)F_+<
M,LESP%2ELN2;V3@*/%*OU58 ZMQZ,1%-6DIZD5*9I]2;=EYR766W6U\4D?\
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M4\OK"3N2/:>R-+TU:1IF^;@6W+.+10I193*L\ OH\*H<ST<ANYY72$J6M*4
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M)7!.K;3_ /',K\.C'+"\X[HNAUM#S2VG4)6VM)2I*AD*!X@B(STLZ-'K8O\
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MTV>:6]^_K)/5B-(25:$UICM6BPYFVZ%,UJK,J9GZFE(;:6,*;9&\9Y%1WXY
M0Z(((PE+D]92Z""""$ 0000 $$$$ !!!!  0000 $$$$ !!!!  0000 $$$$
M !!!!  0000 $$$$ !!!!  0000 $$$$ !!!!  0000 $$$$ !!!!  0000
/$$$$ !!!!  0000 ?__9

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>8
<FILENAME>R1.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Submission<br></strong></div></th>
<th class="th"><div>Apr. 29, 2026</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissionLineItems', window );"><strong>Submission [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Central Index Key</a></td>
<td class="text">0001596967<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Registrant Name</a></td>
<td class="text">Moelis & Co<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FormTp', window );">Form Type</a></td>
<td class="text">S-3<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_SubmissnTp', window );">Submission Type</a></td>
<td class="text">S-3ASR<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeExhibitTp', window );">Fee Exhibit Type</a></td>
<td class="text">EX-FILING FEES<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeExhibitTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeExhibitTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:feeExhibitTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FormTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FormTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_SubmissionLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_SubmissionLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_SubmissnTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_SubmissnTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>9
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Offerings - Offering: 1<br></strong></div></th>
<th class="th"><div>Apr. 29, 2026</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTable', window );"><strong>Offering:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_PrevslyPdFlg', window );">Fee Previously Paid</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_Rule457rFlg', window );">Rule 457(r)</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTp', window );">Security Type</a></td>
<td class="text">Equity<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingSctyTitl', window );">Security Class Title</a></td>
<td class="text">Class A Common Stock, par value $0.01 per share ("Class A Common Stock")<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeeRate', window );">Fee Rate</a></td>
<td class="nump">0.01381%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingNote', window );">Offering Note</a></td>
<td class="text">(1) Omitted pursuant to Form S-3 Instructions to the Calculation of Filing Fee Tables and Related Disclosure 2(A)(iii)(c). (2) In accordance with Rule 456(b) and Rule 457(r), the registrant is deferring payment of all of the registration fees and will pay any applicable registration fees on a "pay as you go" basis. The registrant will calculate the registration fee applicable to an offer of securities hereunder based on the fee payment rate in effect on the date of such fee payment.<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeeRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The rate per dollar of fees that public companies and other issuers pay to register their securities with the Commission.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeeRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingNote">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingNote</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTitl">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>The title of the class of securities being registered (for each class being registered).</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTitl</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTitleItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingSctyTp">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Definition</a><div><p>Type of securities: "Asset-backed Securities", "ADRs/ADSs", "Debt", "Debt Convertible into Equity", "Equity", "Face Amount Certificates", "Limited Partnership Interests", "Mortgage Backed Securities", "Non-Convertible Debt", "Unallocated (Universal) Shelf", "Exchange Traded Vehicle Securities", "Other"</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingSctyTp</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:securityTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingTable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingTable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_PrevslyPdFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_PrevslyPdFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_Rule457rFlg">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br> -Section 457<br> -Subsection r<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_Rule457rFlg</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingAxis=1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingAxis=1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>10
<FILENAME>R3.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="include/report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.26.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Fees Summary<br></strong></div></th>
<th class="th">
<div>Apr. 29, 2026 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_FeesSummaryLineItems', window );"><strong>Fees Summary [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlOfferingAmt', window );">Total Offering</a></td>
<td class="nump">$ 0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlPrevslyPdAmt', window );">Previously Paid Amount</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlFeeAmt', window );">Total Fee Amount</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_TtlOffsetAmt', window );">Total Offset Amount</a></td>
<td class="nump">0.00<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_NetFeeAmt', window );">Net Fee</a></td>
<td class="nump">$ 0.00<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OfferingTableNa', window );">Offering Table N/A</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_OffsetTableNa', window );">Offset Table N/A</a></td>
<td class="text">N/A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="Show.showAR( this, 'defref_ffd_CombinedProspectusTableNa', window );">Combined Prospectus Table N/A</a></td>
<td class="text">N/A<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_CombinedProspectusTableNa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_CombinedProspectusTableNa</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:naItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_FeesSummaryLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_FeesSummaryLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_NetFeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_NetFeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OfferingTableNa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OfferingTableNa</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:naItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_OffsetTableNa">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_OffsetTableNa</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:naItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlFeeAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlFeeAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlOfferingAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlOfferingAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlOffsetAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlOffsetAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ffd_TtlPrevslyPdAmt">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">- References</a><div><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 230<br></p></div>
<a href="javascript:void(0);" onclick="Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ffd_TtlPrevslyPdAmt</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ffd_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>ffd:nonNegative1TMonetary2ItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>11
<FILENAME>report.css
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
/* Updated 2009-11-04 */
/* v2.2.0.24 */

/* DefRef Styles */
.report table.authRefData{
	background-color: #def;
	border: 2px solid #2F4497;
	font-size: 1em;
	position: absolute;
}

.report table.authRefData a {
	display: block;
	font-weight: bold;
}

.report table.authRefData p {
	margin-top: 0px;
}

.report table.authRefData .hide {
	background-color: #2F4497;
	padding: 1px 3px 0px 0px;
	text-align: right;
}

.report table.authRefData .hide a:hover {
	background-color: #2F4497;
}

.report table.authRefData .body {
	height: 150px;
	overflow: auto;
	width: 400px;
}

.report table.authRefData table{
	font-size: 1em;
}

/* Report Styles */
.pl a, .pl a:visited {
	color: black;
	text-decoration: none;
}

/* table */
.report {
	background-color: white;
	border: 2px solid #acf;
	clear: both;
	color: black;
	font: normal 8pt Helvetica, Arial, san-serif;
	margin-bottom: 2em;
}

.report hr {
	border: 1px solid #acf;
}

/* Top labels */
.report th {
	background-color: #acf;
	color: black;
	font-weight: bold;
	text-align: center;
}

.report th.void	{
	background-color: transparent;
	color: #000000;
	font: bold 10pt Helvetica, Arial, san-serif;
	text-align: left;
}

.report .pl {
	text-align: left;
	vertical-align: top;
	white-space: normal;
	width: 200px;
	white-space: normal; /* word-wrap: break-word; */
}

.report td.pl a.a {
	cursor: pointer;
	display: block;
	width: 200px;
	overflow: hidden;
}

.report td.pl div.a {
	width: 200px;
}

.report td.pl a:hover {
	background-color: #ffc;
}

/* Header rows... */
.report tr.rh {
	background-color: #acf;
	color: black;
	font-weight: bold;
}

/* Calendars... */
.report .rc {
	background-color: #f0f0f0;
}

/* Even rows... */
.report .re, .report .reu {
	background-color: #def;
}

.report .reu td {
	border-bottom: 1px solid black;
}

/* Odd rows... */
.report .ro, .report .rou {
	background-color: white;
}

.report .rou td {
	border-bottom: 1px solid black;
}

.report .rou table td, .report .reu table td {
	border-bottom: 0px solid black;
}

/* styles for footnote marker */
.report .fn {
	white-space: nowrap;
}

/* styles for numeric types */
.report .num, .report .nump {
	text-align: right;
	white-space: nowrap;
}

.report .nump {
	padding-left: 2em;
}

.report .nump {
	padding: 0px 0.4em 0px 2em;
}

/* styles for text types */
.report .text {
	text-align: left;
	white-space: normal;
}

.report .text .big {
	margin-bottom: 1em;
	width: 17em;
}

.report .text .more {
	display: none;
}

.report .text .note {
	font-style: italic;
	font-weight: bold;
}

.report .text .small {
	width: 10em;
}

.report sup {
	font-style: italic;
}

.report .outerFootnotes {
	font-size: 1em;
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>12
<FILENAME>Show.js
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
// Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission.  Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105.
var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0);
e.removeAttribute('id');a.parentNode.appendChild(e)}}
if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'}
e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>14
<FILENAME>FilingSummary.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version='1.0' encoding='utf-8'?>
<FilingSummary>
  <Version>3.26.1</Version>
  <ProcessingTime/>
  <ReportFormat>html</ReportFormat>
  <ContextCount>2</ContextCount>
  <ElementCount>19</ElementCount>
  <EntityCount>1</EntityCount>
  <FootnotesReported>false</FootnotesReported>
  <SegmentCount>1</SegmentCount>
  <ScenarioCount>0</ScenarioCount>
  <TuplesReported>false</TuplesReported>
  <UnitCount>2</UnitCount>
  <MyReports>
    <Report instance="d102217dexfilingfees.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R1.htm</HtmlFileName>
      <LongName>995210 - Document - Submission</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ffd/role/document/submissionTable</Role>
      <ShortName>Submission</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>1</Position>
    </Report>
    <Report instance="d102217dexfilingfees.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R2.htm</HtmlFileName>
      <LongName>995211 - Document - Offerings</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ffd/role/document/feesOfferingTable</Role>
      <ShortName>Offerings</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>2</Position>
    </Report>
    <Report instance="d102217dexfilingfees.htm">
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <HtmlFileName>R3.htm</HtmlFileName>
      <LongName>995215 - Document - Fees Summary</LongName>
      <ReportType>Sheet</ReportType>
      <Role>http://xbrl.sec.gov/ffd/role/document/feesSummaryTable</Role>
      <ShortName>Fees Summary</ShortName>
      <MenuCategory>Cover</MenuCategory>
      <Position>3</Position>
    </Report>
    <Report>
      <IsDefault>false</IsDefault>
      <HasEmbeddedReports>false</HasEmbeddedReports>
      <LongName>All Reports</LongName>
      <ReportType>Book</ReportType>
      <ShortName>All Reports</ShortName>
    </Report>
  </MyReports>
  <InputFiles>
    <File doctype="EX-FILING FEES" original="d102217dexfilingfees.htm">d102217dexfilingfees.htm</File>
  </InputFiles>
  <SupplementalFiles/>
  <BaseTaxonomies>
    <BaseTaxonomy items="3">http://xbrl.sec.gov/dei/2026</BaseTaxonomy>
    <BaseTaxonomy items="18">http://xbrl.sec.gov/ffd/2026</BaseTaxonomy>
  </BaseTaxonomies>
  <HasPresentationLinkbase>false</HasPresentationLinkbase>
  <HasCalculationLinkbase>false</HasCalculationLinkbase>
</FilingSummary>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>JSON
<SEQUENCE>16
<FILENAME>MetaLinks.json
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
{
 "version": "2.2",
 "instance": {
  "d102217dexfilingfees.htm": {
   "dts": {
    "inline": {
     "local": [
      "d102217dexfilingfees.htm"
     ]
    },
    "schema": {
     "remote": [
      "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xl-2003-12-31.xsd",
      "http://www.xbrl.org/2003/xlink-2003-12-31.xsd",
      "http://www.xbrl.org/2005/xbrldt-2005.xsd",
      "http://www.xbrl.org/lrr/arcrole/deprecated-2009-12-16.xsd",
      "https://www.xbrl.org/dtr/type/2024-01-31/types.xsd",
      "https://xbrl.sec.gov/dei/2026/dei-2026.xsd",
      "https://xbrl.sec.gov/ffd/2026/ffd-2026.xsd"
     ]
    }
   },
   "keyStandard": 19,
   "keyCustom": 0,
   "axisStandard": 1,
   "axisCustom": 0,
   "memberStandard": 1,
   "memberCustom": 0,
   "hidden": {
    "total": 8,
    "http://xbrl.sec.gov/ffd/2026": 6,
    "http://xbrl.sec.gov/dei/2026": 2
   },
   "contextCount": 2,
   "entityCount": 1,
   "segmentCount": 1,
   "elementCount": 107,
   "unitCount": 2,
   "baseTaxonomies": {
    "http://xbrl.sec.gov/ffd/2026": 18,
    "http://xbrl.sec.gov/dei/2026": 3
   },
   "report": {
    "R1": {
     "role": "http://xbrl.sec.gov/ffd/role/document/submissionTable",
     "longName": "995210 - Document - Submission",
     "shortName": "Submission",
     "isDefault": "true",
     "groupType": "Fee_Exhibit",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "1",
     "firstAnchor": null,
     "uniqueAnchor": null
    },
    "R2": {
     "role": "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
     "longName": "995211 - Document - Offerings",
     "shortName": "Offerings",
     "isDefault": "false",
     "groupType": "Fee_Exhibit",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "2",
     "firstAnchor": {
      "contextRef": "offrl_1",
      "name": "ffd:PrevslyPdFlg",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "td",
       "tr",
       "table",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "d102217dexfilingfees.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "offrl_1",
      "name": "ffd:PrevslyPdFlg",
      "unitRef": null,
      "xsiNil": "false",
      "lang": "en-US",
      "decimals": null,
      "ancestors": [
       "td",
       "tr",
       "table",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "d102217dexfilingfees.htm",
      "first": true,
      "unique": true
     }
    },
    "R3": {
     "role": "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable",
     "longName": "995215 - Document - Fees Summary",
     "shortName": "Fees Summary",
     "isDefault": "false",
     "groupType": "Fee_Exhibit",
     "subGroupType": "",
     "menuCat": "Cover",
     "order": "3",
     "firstAnchor": {
      "contextRef": "rc",
      "name": "ffd:TtlOfferingAmt",
      "unitRef": "USD",
      "xsiNil": "false",
      "lang": null,
      "decimals": "2",
      "ancestors": [
       "p",
       "td",
       "tr",
       "table",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "d102217dexfilingfees.htm",
      "first": true,
      "unique": true
     },
     "uniqueAnchor": {
      "contextRef": "rc",
      "name": "ffd:TtlOfferingAmt",
      "unitRef": "USD",
      "xsiNil": "false",
      "lang": null,
      "decimals": "2",
      "ancestors": [
       "p",
       "td",
       "tr",
       "table",
       "div",
       "body",
       "html"
      ],
      "reportCount": 1,
      "baseRef": "d102217dexfilingfees.htm",
      "first": true,
      "unique": true
     }
    }
   },
   "tag": {
    "ffd_AggtRedRpPricFsclYr": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AggtRedRpPricFsclYr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Redeemed or Repurchased Price, Fiscal Year",
        "terseLabel": "Aggregate Redeemed or Repurchased, FY"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AggtRedRpPricPrrFsclYr": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AggtRedRpPricPrrFsclYr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Redeemed or Repurchased Price, Prior Fiscal Year",
        "terseLabel": "Aggregate Redeemed or Repurchased, Prior FY"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AggtSalesPricFsclYr": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AggtSalesPricFsclYr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Aggregate Sales Price, Fiscal Year",
        "terseLabel": "Aggregate Sales Price"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AmtRedCdts": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AmtRedCdts",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amount of Redemption Credits",
        "terseLabel": "Redemption Credits"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_AmtSctiesRcvd": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AmtSctiesRcvd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amount of Securities Received",
        "terseLabel": "Amount of Securities Received",
        "documentation": "Amount of securities to be received by the registrant (or cancelled upon issuance of securities to be registered on the form)"
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "ffd_AmtSctiesRegd": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "AmtSctiesRegd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Amount of Securities Registered",
        "terseLabel": "Amount Registered",
        "documentation": "The amount of securities being registered."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CeasedOprsDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CeasedOprsDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Ceased Operations Date",
        "terseLabel": "Ceased Operations Date"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_CfwdFormTp": {
     "xbrltype": "formTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CfwdFormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward Form Type",
        "terseLabel": "Carry Forward Form Type",
        "documentation": "The Form Type of the prior shelf registration statement from which unsold securities are carried forward under 415(a)(6). This should be an EDGAR submission type (S-3, S-3/A, S-3ASR, etc.), which means there is a fixed set of possible responses. Note that while the XBRL response should be an EDGAR submission type, the human-readable Ex. 107 could include a simpler label (e.g., \"Form S-3\" in the human-readable and \"S-3ASR\" in the XBRL)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CfwdPrevslyPdFee": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CfwdPrevslyPdFee",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward Previously Paid Fee",
        "terseLabel": "Filing Fee Previously Paid in Connection with Unsold Securities to be Carried Forward",
        "documentation": "The fee previously paid in connection with the securities being brought forward from the prior shelf registration statement on which unsold securities are carried forward under 415(a)(6)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CfwdPrrFctvDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CfwdPrrFctvDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward Prior Effective Date",
        "terseLabel": "Carry Forward Initial Effective Date",
        "documentation": "The initial effective date of the prior shelf registration statement from which unsold securities are carried forward under 415(a)(6)."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CfwdPrrFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CfwdPrrFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Carry Forward File Number",
        "terseLabel": "Carry Forward File Number",
        "documentation": "The EDGAR File Number of the prior shelf registration statement from which unsold securities are carried forward under 415(a)(6). If the prior registration statement has a Securities Act File Number and an Investment Company Act File Number, the Securities Act File Number should be used."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_CmbndPrspctsItemAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CmbndPrspctsItemAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus Item [Axis]",
        "terseLabel": "Combined Prospectus",
        "documentation": "A sequence number (1, 2, 3...) used to distinguish different references to earlier prospectuses on a single fee bearing submission."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CmbndPrspctsLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CmbndPrspctsLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus [Line Items]",
        "terseLabel": "Combined Prospectus:"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CmbndPrspctsTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CmbndPrspctsTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus [Table]",
        "terseLabel": "Combined Prospectus Table"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_CombinedProspectusTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CombinedProspectusTableNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Combined Prospectus Table [N/A]",
        "terseLabel": "Combined Prospectus Table N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_CshPdByRegistrantInTx": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CshPdByRegistrantInTx",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Cash Paid by Registrant in Transaction",
        "terseLabel": "Cash Consideration Paid",
        "documentation": "Amount of cash consideration paid by registrant in connection with the exchange or other transaction being registered (in a 457(f) calculation)."
       }
      }
     },
     "auth_ref": [
      "r12"
     ]
    },
    "ffd_CshRcvdByRegistrantInTx": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "CshRcvdByRegistrantInTx",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Cash Received by Registrant in Transaction",
        "terseLabel": "Cash Consideration Received",
        "documentation": "Amount of cash consideration received by registrant in connection with the exchange or other transaction being registered (in a 457(f) calculation)."
       }
      }
     },
     "auth_ref": [
      "r12"
     ]
    },
    "dei_EntityCentralIndexKey": {
     "xbrltype": "centralIndexKeyItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityCentralIndexKey",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Central Index Key",
        "terseLabel": "Central Index Key",
        "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "dei_EntityRegistrantName": {
     "xbrltype": "normalizedStringItemType",
     "nsuri": "http://xbrl.sec.gov/dei/2026",
     "localname": "EntityRegistrantName",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Entity Registrant Name",
        "terseLabel": "Registrant Name",
        "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC."
       }
      }
     },
     "auth_ref": [
      "r0"
     ]
    },
    "ffd_FeeAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Amount",
        "terseLabel": "Amount of Registration Fee",
        "documentation": "Total amount of registration fee (amount due after offsets)."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeExhibitTp": {
     "xbrltype": "feeExhibitTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeExhibitTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Exhibit Type",
        "terseLabel": "Fee Exhibit Type"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_FeeIntrstAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeIntrstAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Interest Amount",
        "terseLabel": "Interest Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Note",
        "terseLabel": "Fee Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeNoteMaxAggtOfferingPric": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeNoteMaxAggtOfferingPric",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Note Maximum Aggregate Offering Price",
        "terseLabel": "Fee Note MAOP"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeeRate": {
     "xbrltype": "percentItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeeRate",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Rate",
        "terseLabel": "Fee Rate",
        "documentation": "The rate per dollar of fees that public companies and other issuers pay to register their securities with the Commission."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeesOthrRuleFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeesOthrRuleFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fees, Other Rule [Flag]",
        "terseLabel": "Other Rule",
        "documentation": "Checkbox indicating whether filer is using a rule other than 457(a), 457(o), or 457(f) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FeesSummaryLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FeesSummaryLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Fees Summary [Line Items]",
        "terseLabel": "Fees Summary:"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FnlPrspctsFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FnlPrspctsFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Final Prospectus [Flag]",
        "terseLabel": "Final Prospectus"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_FormTp": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "FormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Form Type",
        "terseLabel": "Form Type"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_GnlInstrIIhiFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "GnlInstrIIhiFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "General Instruction II.H,I [Flag]",
        "terseLabel": "General Instruction II.H,I"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrCity": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrBizAdrCity",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, City",
        "terseLabel": "City"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrStatOrCtryCd": {
     "xbrltype": "stateOrCountryCodeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrBizAdrStatOrCtryCd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, State or Country Code",
        "terseLabel": "State or Country Code"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrStrt1": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrBizAdrStrt1",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, Street 1",
        "terseLabel": "Street 1"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrStrt2": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrBizAdrStrt2",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, Street 2",
        "terseLabel": "Street 2"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrBizAdrZipCd": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrBizAdrZipCd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Business Address, Zip Code",
        "terseLabel": "Zip Code"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_IssrNm": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "IssrNm",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Issuer Name",
        "terseLabel": "Issuer Name"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_MaxAggtOfferingPric": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "MaxAggtOfferingPric",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Maximum Aggregate Offering Price",
        "terseLabel": "Maximum Aggregate Offering Price",
        "documentation": "The maximum aggregate offering price for the offering that is being registered."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_MaxOfferingPricPerScty": {
     "xbrltype": "nonNegativeDecimal4lItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "MaxOfferingPricPerScty",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Maximum Offering Price per Security",
        "terseLabel": "Proposed Maximum Offering Price per Unit",
        "documentation": "The maximum offering price per share/unit being registered."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NetFeeAmt": {
     "xbrltype": "monetaryItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "NetFeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Net Fee Amount",
        "terseLabel": "Net Fee"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NetSalesAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "NetSalesAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Net Sales Amount",
        "terseLabel": "Net Sales"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NrrtvDsclsr": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "NrrtvDsclsr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Narrative Disclosure",
        "terseLabel": "Narrative Disclosure"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NrrtvMaxAggtAmt": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "NrrtvMaxAggtAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Narrative Disclosure, Maximum Aggregate Offering Amount",
        "terseLabel": "Narrative - Max Aggregate Offering Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_NrrtvMaxAggtOfferingPric": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "NrrtvMaxAggtOfferingPric",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Narrative Disclosure, Maximum Aggregate Offering Price",
        "terseLabel": "Narrative - Max Aggregate Offering Price"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering [Axis]",
        "terseLabel": "Offering",
        "documentation": "A sequence number (1, 2, 3...) used to distinguish different security offerings on a single fee bearing submission."
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OfferingLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering [Line Items]",
        "terseLabel": "Offering:"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OfferingNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Note",
        "terseLabel": "Offering Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingSctyTitl": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingSctyTitl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Security Title",
        "terseLabel": "Security Class Title",
        "documentation": "The title of the class of securities being registered (for each class being registered)."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingSctyTp": {
     "xbrltype": "securityTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingSctyTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Security Type",
        "terseLabel": "Security Type",
        "documentation": "Type of securities: \"Asset-backed Securities\", \"ADRs/ADSs\", \"Debt\", \"Debt Convertible into Equity\", \"Equity\", \"Face Amount Certificates\", \"Limited Partnership Interests\", \"Mortgage Backed Securities\", \"Non-Convertible Debt\", \"Unallocated (Universal) Shelf\", \"Exchange Traded Vehicle Securities\", \"Other\""
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OfferingTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering [Table]",
        "terseLabel": "Offering:"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OfferingTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OfferingTableNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offering Table [N/A]",
        "terseLabel": "Offering Table N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_OffsetAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset [Axis]",
        "terseLabel": "Offset",
        "documentation": "A sequence number (1, 2, 3...) used to distinguish different offsets as applied to a fee bearing submission."
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetClmInitlFilgDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetClmInitlFilgDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Claim Initial Filing Date",
        "terseLabel": "Initial Filing Date",
        "documentation": "The initial filing date of the earlier registration statement with which the earlier (offsetting) fee was paid for a claimed offset. If the offset fee was paid with an amendment, do not provide the amendment date under this element; instead, provide the date of the initial filing (i.e. the \"parent\" filing) ."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetClmdAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetClmdAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Claimed Amount",
        "terseLabel": "Fee Offset Claimed",
        "documentation": "The amount of offsetting fees being claimed."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetClmdInd": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetClmdInd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Claimed Indicator",
        "terseLabel": "Offset Claimed"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetExpltnForClmdAmt": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetExpltnForClmdAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Explanation for Claimed Amount",
        "terseLabel": "Explanation for Claimed Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetLineItems",
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Offset:",
        "label": "Offset [Line Items]"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Note",
        "terseLabel": "Offset Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetPrrFeeAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrFeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Fee Amount",
        "terseLabel": "Fee Paid with Fee Offset Source",
        "documentation": "The fee previously paid from which an offset is being derived."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior File Number",
        "terseLabel": "File Number",
        "documentation": "The EDGAR File Number of the earlier registration statement with which the earlier (offsetting) fee was paid. If the offset filing for the offset has a Securities Act File Number and an Investment Company Act File Number, the Securities Act File Number should be used."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrFilerNm": {
     "xbrltype": "filerNameItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrFilerNm",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Filer Name",
        "terseLabel": "Registrant or Filer Name",
        "documentation": "The name of the registrant that filed the earlier registration statement with which the earlier (offsetting) fee was paid."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrFormTp": {
     "xbrltype": "formTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrFormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Form Type",
        "terseLabel": "Form or Filing Type",
        "documentation": "The Form Type of the offset filing."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrNbOfUnsoldScties": {
     "xbrltype": "nonNegativeDecimal8ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrNbOfUnsoldScties",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Unsold Number of Securities",
        "terseLabel": "Unsold Securities Associated with Fee Offset Claimed",
        "documentation": "The number of unsold securities registered on the prior registration statement that are associated with the claimed offset."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrSctyTitl": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrSctyTitl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Security Title",
        "terseLabel": "Security Title Associated with Fee Offset Claimed",
        "documentation": "The title of the class of securities from which offset fees were derived."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrSctyTp": {
     "xbrltype": "securityTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrSctyTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Security Type",
        "terseLabel": "Security Type Associated with Fee Offset Claimed",
        "documentation": "Type of securities: \"Asset-backed Securities\", \"ADRs/ADSs\", \"Debt\", \"Debt Convertible into Equity\", \"Equity\", \"Face Amount Certificates\", \"Limited Partnership Interests\", \"Mortgage Backed Securities\", \"Non-Convertible Debt\", \"Unallocated (Universal) Shelf\", \"Exchange Traded Vehicle Securities\", \"Other\""
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetPrrUnsoldOfferingAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetPrrUnsoldOfferingAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Prior Unsold Offering Amount",
        "terseLabel": "Unsold Aggregate Offering Amount Associated with Fee Offset Claimed",
        "documentation": "The aggregate offering amount of unsold securities registered on the prior registration statement that are associated with the claimed offset."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetSrcFilgDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetSrcFilgDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Source Filing Date",
        "terseLabel": "Filing Date",
        "documentation": "The filing date of the earlier registration statement with which the earlier (offsetting) fee was paid in an offset."
       }
      }
     },
     "auth_ref": [
      "r5",
      "r8"
     ]
    },
    "ffd_OffsetTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Offset Payment:",
        "label": "Offset [Table]"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_OffsetTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "OffsetTableNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Offset Table [N/A]",
        "terseLabel": "Offset Table N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_PrevslyPdFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "PrevslyPdFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable",
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Fee Previously Paid [Flag]",
        "terseLabel": "Fee Previously Paid"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_RegnFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "RegnFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Registration File Number",
        "terseLabel": "Registration File Number"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_RptgFsclYrEndDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "RptgFsclYrEndDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Reporting Fiscal Year End Date",
        "terseLabel": "Reporting FY End Date"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_Rule011Flg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule011Flg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 0-11 [Flag]",
        "terseLabel": "Rule 0-11"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_Rule011a2OffsetFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule011a2OffsetFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "terseLabel": "Rule 0-11(a)(2) Offset",
        "label": "Rule 0-11(a)(2) Offset [Flag]"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_Rule415a6Flg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule415a6Flg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 415(a)(6) [Flag]",
        "terseLabel": "Rule 415(a)(6)",
        "documentation": "Checkbox indicating whether filer is claiming a 415(a)(6) carryforward."
       }
      }
     },
     "auth_ref": [
      "r2"
     ]
    },
    "ffd_Rule429AggtOfferingAmt": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429AggtOfferingAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Aggregate Offering Amount",
        "terseLabel": "Maximum Aggregate Offering Price of Securities Previously Registered",
        "documentation": "The maximum aggregate offering amount of unsold securities registered on the prior registration statement that are carried forward under Rule 429. Only applicable if 457(o) was used in the fee calculation for the prior registration statement."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429CmbndPrspctsFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429CmbndPrspctsFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Combined Prospectus [Flag]",
        "terseLabel": "Rule 429",
        "documentation": "Checkbox indicating whether filer is using a combined prospectus under Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429EarlierFileNb": {
     "xbrltype": "fileNumberItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429EarlierFileNb",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Earlier File Number",
        "terseLabel": "File Number",
        "documentation": "The Securities Act File Number of the earlier effective registration statement(s) from which securities may be offered and sold using the combined prospectus pursuant to Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429EarlierFormTp": {
     "xbrltype": "formTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429EarlierFormTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Earlier Form Type",
        "terseLabel": "Form Type",
        "documentation": "The Form Type of the earlier registration statement from which unsold securities are carried forward under Rule 429. This should be an EDGAR submission type (S-3, S-3/A, S-3ASR, etc.), which means there is a fixed set of possible responses. Note that while the XBRL response should be an EDGAR submission type, the human-readable Ex. 107 could include a simpler label (e.g., \"Form S-3\" in the human-readable and \"S-3ASR\" in the XBRL)."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429InitlFctvDt": {
     "xbrltype": "dateItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429InitlFctvDt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Initial Effective Date",
        "terseLabel": "Initial Effective Date",
        "documentation": "The filing date of the earlier registration statement from which unsold securities are carried forward under Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429NbOfUnsoldScties": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429NbOfUnsoldScties",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Number Of Unsold Securities",
        "terseLabel": "Amount of Securities Previously Registered",
        "documentation": "The number of securities registered on the prior registration statement that are carried forward under Rule 429."
       }
      }
     },
     "auth_ref": [
      "r3"
     ]
    },
    "ffd_Rule429PrspctsNote": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429PrspctsNote",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Prospectus Note",
        "terseLabel": "Combined Prospectus Note"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Rule429SctyTitl": {
     "xbrltype": "securityTitleItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429SctyTitl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Security Title",
        "terseLabel": "Security Class Title"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Rule429SctyTp": {
     "xbrltype": "securityTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule429SctyTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesByCmbndPrspctsTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 429 Security Type",
        "terseLabel": "Security Type"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Rule457aFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457aFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(a) [Flag]",
        "terseLabel": "Rule 457(a)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(a) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r4"
     ]
    },
    "ffd_Rule457bOffsetFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457bOffsetFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(b) Offset [Flag]",
        "terseLabel": "Rule 457(b) Offset",
        "documentation": "Checkbox indicating whether filer is claiming an offset under Rule 457(b) or 0-11(a)(2)."
       }
      }
     },
     "auth_ref": [
      "r5"
     ]
    },
    "ffd_Rule457fFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457fFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(f) [Flag]",
        "terseLabel": "Rule 457(f)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(f) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "ffd_Rule457oFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457oFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(o) [Flag]",
        "terseLabel": "Rule 457(o)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(o) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r7"
     ]
    },
    "ffd_Rule457pOffsetFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457pOffsetFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(p) Offset [Flag]",
        "terseLabel": "Rule 457(p) Offset",
        "documentation": "Checkbox indicating whether filer is claiming an offset under Rule 457(p)."
       }
      }
     },
     "auth_ref": [
      "r8"
     ]
    },
    "ffd_Rule457rFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457rFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(r) [Flag]",
        "terseLabel": "Rule 457(r)"
       }
      }
     },
     "auth_ref": [
      "r9"
     ]
    },
    "ffd_Rule457sFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457sFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(s) Flag",
        "terseLabel": "Rule 457(s)"
       }
      }
     },
     "auth_ref": [
      "r10"
     ]
    },
    "ffd_Rule457uFlg": {
     "xbrltype": "booleanItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Rule457uFlg",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Rule 457(u) [Flag]",
        "terseLabel": "Rule 457(u)",
        "documentation": "Checkbox indicating whether filer is using Rule 457(u) to calculate the registration fee due."
       }
      }
     },
     "auth_ref": [
      "r11"
     ]
    },
    "ffd_Scties424iAxis": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Scties424iAxis",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities, 424I [Axis]",
        "terseLabel": "Securities, 424I"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Scties424iLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Scties424iLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities, 424I [Line Items]",
        "terseLabel": "Securities, 424I:"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Scties424iTable": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Scties424iTable",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/securities424iTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities, 424I [Table]",
        "terseLabel": "Securities, 424I Table"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_Securities424iTableNa": {
     "xbrltype": "naItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "Securities424iNa",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Securities 424I [N/A]",
        "terseLabel": "Securities 424I N/A"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_SubmissionLineItems": {
     "xbrltype": "stringItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "SubmissionLineItems",
     "lang": {
      "en-us": {
       "role": {
        "label": "Submission [Line Items]",
        "terseLabel": "Items"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_SubmissnTp": {
     "xbrltype": "submissionTypeItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "SubmissnTp",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/submissionTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Submission Type",
        "terseLabel": "Submission Type"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_TermntnCmpltnWdrwl": {
     "xbrltype": "textBlockItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TermntnCmpltnWdrwl",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOffsetTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Termination / Completion / Withdrawal Statement",
        "terseLabel": "Termination / Withdrawal Statement"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_TtlFeeAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlFeeAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Fee Amount",
        "terseLabel": "Total Fee Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlFeeAndIntrstAmt": {
     "xbrltype": "nonNegativeDecimal2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlFeeAndIntrstAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Fee and Interest Amount",
        "terseLabel": "Total Fee and Interest Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlOfferingAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlOfferingAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Offering Amount",
        "terseLabel": "Total Offering"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlOffsetAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlOffsetAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Offset Amount",
        "terseLabel": "Total Offset Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlPrevslyPdAmt": {
     "xbrltype": "nonNegative1TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlPrevslyPdAmt",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Previously Paid Amount",
        "terseLabel": "Previously Paid Amount"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TtlTxValtn": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TtlTxValtn",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesSummaryTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Total Transaction Valuation",
        "terseLabel": "Total Transaction Valuation"
       }
      }
     },
     "auth_ref": [
      "r1"
     ]
    },
    "ffd_TxValtn": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "TxValtn",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Transaction Valuation",
        "terseLabel": "Transaction Valuation"
       }
      }
     },
     "auth_ref": []
    },
    "ffd_ValSctiesRcvd": {
     "xbrltype": "nonNegative100TMonetary2ItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "ValSctiesRcvd",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Value of Securities Received",
        "terseLabel": "Value of Securities Received",
        "documentation": "Value of securities to be received by the registrant (or cancelled upon issuance of securities to be registered on the form)"
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    },
    "ffd_ValSctiesRcvdPerShr": {
     "xbrltype": "nonNegativeDecimal4lItemType",
     "nsuri": "http://xbrl.sec.gov/ffd/2026",
     "localname": "ValSctiesRcvdPerShr",
     "presentation": [
      "http://xbrl.sec.gov/ffd/role/document/feesOfferingTable"
     ],
     "lang": {
      "en-us": {
       "role": {
        "label": "Value of Securities Received, Per Share",
        "terseLabel": "Value of Securities Received, Per Share",
        "documentation": "Value per share of securities to be received by the registrant (or cancelled upon issuance of securities to be registered on the form). This is included in the explanation of 457(f) fee calculation."
       }
      }
     },
     "auth_ref": [
      "r6"
     ]
    }
   }
  }
 },
 "std_ref": {
  "r0": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Exchange Act",
   "Number": "240",
   "Section": "12",
   "Subsection": "b-2"
  },
  "r1": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230"
  },
  "r2": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "415",
   "Subsection": "a"
  },
  "r3": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "429"
  },
  "r4": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457"
  },
  "r5": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "b"
  },
  "r6": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "f"
  },
  "r7": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "o"
  },
  "r8": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "p"
  },
  "r9": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "r"
  },
  "r10": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "s"
  },
  "r11": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Section": "457",
   "Subsection": "u"
  },
  "r12": {
   "role": "http://www.xbrl.org/2003/role/presentationRef",
   "Publisher": "SEC",
   "Name": "Securities Act",
   "Number": "230",
   "Subsection": "f",
   "Section": "457"
  }
 }
}
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>ZIP
<SEQUENCE>17
<FILENAME>0001193125-26-197846-xbrl.zip
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
begin 644 0001193125-26-197846-xbrl.zip
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MJ_ABGN!Q2W2CF0DF5H>0R=%-*+62G6KYT*Q!#!_(2#Y D $(WY.$]#FQ^<Q
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MU/-/ 8MXO:-FY#@*U5H1G10DCL-2&O*,CFQL$1=LY$KI%N7BA:[M\WAXHT)
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M<ED<8Q<WQ1L9V@*T9 _8WC2CT#F#AHSY%I'A1L:0;?!=E/#)YIC7((P87+W
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I,3=D97AF:6QI;F=F965S+FAT;5!+!08      0 ! $8   #@"@     !

end
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>18
<FILENAME>d102217dexfilingfees_htm.xml
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<xbrl
  xmlns="http://www.xbrl.org/2003/instance"
  xmlns:dei="http://xbrl.sec.gov/dei/2026"
  xmlns:ffd="http://xbrl.sec.gov/ffd/2026"
  xmlns:iso4217="http://www.xbrl.org/2003/iso4217"
  xmlns:link="http://www.xbrl.org/2003/linkbase"
  xmlns:xbrldi="http://xbrl.org/2006/xbrldi"
  xmlns:xlink="http://www.w3.org/1999/xlink"
  xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
    <link:schemaRef
      xlink:href="https://xbrl.sec.gov/ffd/2026/ffd-2026.xsd"
      xlink:type="simple"/>
    <context id="rc">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001596967</identifier>
        </entity>
        <period>
            <startDate>2026-04-29</startDate>
            <endDate>2026-04-29</endDate>
        </period>
    </context>
    <context id="offrl_1">
        <entity>
            <identifier scheme="http://www.sec.gov/CIK">0001596967</identifier>
            <segment>
                <xbrldi:typedMember dimension="ffd:OfferingAxis">
                    <dei:lineNo>1</dei:lineNo>
                </xbrldi:typedMember>
            </segment>
        </entity>
        <period>
            <startDate>2026-04-29</startDate>
            <endDate>2026-04-29</endDate>
        </period>
    </context>
    <unit id="USD">
        <measure>iso4217:USD</measure>
    </unit>
    <unit id="pure">
        <measure>pure</measure>
    </unit>
    <ffd:FormTp contextRef="rc" id="ixv-328">S-3</ffd:FormTp>
    <ffd:SubmissnTp contextRef="rc" id="ixv-329">S-3ASR</ffd:SubmissnTp>
    <ffd:FeeExhibitTp contextRef="rc" id="ixv-330">EX-FILING FEES</ffd:FeeExhibitTp>
    <dei:EntityCentralIndexKey contextRef="rc" id="ixv-331">0001596967</dei:EntityCentralIndexKey>
    <dei:EntityRegistrantName contextRef="rc" id="ixv-332">Moelis &amp; Co</dei:EntityRegistrantName>
    <ffd:OfferingTableNa contextRef="rc" id="hiddenrcOfferingTableNa" xsi:nil="true"/>
    <ffd:OffsetTableNa contextRef="rc" id="hiddenrcOffsetTableNa">N/A</ffd:OffsetTableNa>
    <ffd:CombinedProspectusTableNa contextRef="rc" id="hiddenrcCombinedProspectusTableNa">N/A</ffd:CombinedProspectusTableNa>
    <ffd:FormTp contextRef="rc" id="ixv-360">S-3</ffd:FormTp>
    <dei:EntityRegistrantName contextRef="rc" id="ixv-361">Moelis &amp; Co</dei:EntityRegistrantName>
    <ffd:PrevslyPdFlg contextRef="offrl_1" id="ixv-362">false</ffd:PrevslyPdFlg>
    <ffd:OfferingSctyTp contextRef="offrl_1" id="ixv-363">Equity</ffd:OfferingSctyTp>
    <ffd:OfferingSctyTitl contextRef="offrl_1" id="ixv-364">Class A Common Stock, par value $0.01 per share ("Class A Common Stock")</ffd:OfferingSctyTitl>
    <ffd:Rule457rFlg contextRef="offrl_1" id="ixv-365">true</ffd:Rule457rFlg>
    <ffd:FeeRate
      contextRef="offrl_1"
      decimals="7"
      id="ixv-366"
      unitRef="pure">0.0001381</ffd:FeeRate>
    <ffd:TtlOfferingAmt contextRef="rc" decimals="2" id="ixv-367" unitRef="USD">0.00</ffd:TtlOfferingAmt>
    <ffd:TtlFeeAmt contextRef="rc" decimals="2" id="ixv-368" unitRef="USD">0.00</ffd:TtlFeeAmt>
    <ffd:TtlPrevslyPdAmt contextRef="rc" decimals="2" id="ixv-369" unitRef="USD">0.00</ffd:TtlPrevslyPdAmt>
    <ffd:TtlOffsetAmt contextRef="rc" decimals="2" id="ixv-370" unitRef="USD">0.00</ffd:TtlOffsetAmt>
    <ffd:NetFeeAmt contextRef="rc" decimals="2" id="ixv-371" unitRef="USD">0.00</ffd:NetFeeAmt>
    <ffd:OfferingNote contextRef="offrl_1" id="ixv-372">(1) Omitted pursuant to Form S-3 Instructions to the Calculation of Filing Fee Tables and Related Disclosure 2(A)(iii)(c). (2) In accordance with Rule 456(b) and Rule 457(r), the registrant is deferring payment of all of the registration fees and will pay any applicable registration fees on a "pay as you go" basis. The registrant will calculate the registration fee applicable to an offer of securities hereunder based on the fee payment rate in effect on the date of such fee payment.</ffd:OfferingNote>
</xbrl>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
