XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.25.3

Investments | 9 Months Ended
--- | ---
Sep. 30, 2025
Schedule of Investments [Abstract] |
Investments | Investments Investments consist primarily of investments in the Company's sponsored products. The Company's investments, excluding the assets of consolidated investment products ("CIP") discussed in Note 14, at September 30, 2025 and December 31, 2024 were as follows:
(in thousands) | September 30, 2025 |  | December 31, 2024
Investment securities - fair value | $ | 110,561 |  |  | $ | 83,771 |
Equity method investments (1) | 19,345 |  |  | 20,286 |
Nonqualified retirement plan assets | 19,606 |  |  | 15,159 |
Total investments | $ | 149,512 |  |  | $ | 119,216 |
(1) The Company's equity method investments are valued on a three-month lag based upon the availability of financial information. Investment Securities - fair value Investment securities - fair value consist of investments in the Company's sponsored funds and in separate accounts. The composition of the Company’s investment securities - fair value was as follows:
| September 30, 2025 |  | December 31, 2024
(in thousands) | Cost |  | Fair Value |  | Cost |  | Fair Value
Investment Securities - fair value |  |  |  |  |  |  |
Sponsored funds | $ | 53,466 |  |  | $ | 56,383 |  |  | $ | 63,220 |  |  | $ | 63,296 |
Equity securities | 19,020 |  |  | 22,124 |  |  | 17,406 |  |  | 19,019 |
Debt securities | 32,059 |  |  | 32,054 |  |  | 1,457 |  |  | 1,456 |
Total investment securities - fair value | $ | 104,545 |  |  | $ | 110,561 |  |  | $ | 82,083 |  |  | $ | 83,771 |
For the three and nine months ended September 30, 2025, the Company recognized net realized gains of $0.8 million and $0.8 million, respectively, related to its investment securities - fair value. For the three and nine months ended September 30, 2024, the Company recognized net realized gains of $0.5 million and $1.2 million, respectively, related to its investment securities - fair value.

X
- Definition The entire disclosure for investment. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 321 -Publisher FASB -URI https://asc.fasb.org/321/tableOfContent Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Topic 325 -Publisher FASB -URI https://asc.fasb.org/325/tableOfContent + Details
Name: | us-gaap_InvestmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ScheduleOfInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration