Consolidated Statements of Cash Flows (unaudited) - USD ($)	6 Months Ended
Jun. 30, 2023	Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 24,271,996	$ 9,490,780
Adjustments to reconcile net income to net cash (used in) provided by operating activities:
Depreciation	654,971	715,629
Share-based compensation	5,915,199	5,252,317
Decrease (increase) in accounts receivable	(1,629,081)	1,236,111
Change in current income taxes	739,586	(3,007,825)
Change in deferred income taxes	1,826,918	(3,480,304)
Net (gains) losses on investments	(12,118,180)	26,202,205
Net change in securities held by Consolidated Funds	(4,013,615)	(11,708,223)
Decrease in accrued incentive compensation	(18,806,944)	(19,895,874)
Increase (decrease) in deferred compensation	2,469,535	(8,069,988)
Other changes in assets and liabilities	(1,196,020)	3,730,692
Net cash (used in) provided by operating activities	(1,885,635)	465,520
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment	(21,705)	(22,913)
Purchase of Company sponsored investments	(5,827,496)	(2,980,351)
Proceeds from sale of Company sponsored investments	4,424,864	4,479,062
Net cash (used in) provided by investing activities	(1,424,337)	1,475,798
CASH FLOWS FROM FINANCING ACTIVITIES:
Value of shares withheld related to employee tax withholding	(4,173,781)	(1,781,410)
Payment of dividends	(9,009,648)	(9,528,917)
Net subscriptions received from redeemable noncontrolling interest holders	6,485,835	8,595,911
Repurchases of common stock	(14,865,784)	(21,699,248)
Proceeds received under employee stock purchase plan	335,044	424,435
Net cash used in financing activities	(21,228,334)	(23,989,229)
CASH AND CASH EQUIVALENTS
Net change during the period	(24,538,306)	(22,047,911)
At beginning of period	63,195,302	80,550,393
At end of period	38,656,996	58,502,482
Supplemental cash flow information:
Income taxes paid	6,248,696	11,051,770
Supplemental disclosure of non-cash transactions:
Common stock issued as incentive compensation	$ 0	$ 487,870

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