v3.25.2
Fair Value Measurements
6 Months Ended
Jun. 30, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements
7.
FAIR VALUE MEASUREMENTS

The following tables summarize the valuation of the Company’s investments by the fair value hierarchy:

 

 

June 30, 2025

 

 

 

Level I

 

 

Level II

 

 

Level III

 

 

Total

 

Treasury Securities

 

$

 

 

$

103,767

 

 

$

 

 

$

103,767

 

Money Market Funds

 

 

 

 

 

75,422

 

 

 

 

 

 

75,422

 

Total

 

$

 

 

$

179,189

 

 

$

 

 

$

179,189

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

Level I

 

 

Level II

 

 

Level III

 

 

Total

 

Treasury Securities

 

$

 

 

$

62,912

 

 

$

 

 

$

62,912

 

Money Market Funds

 

 

 

 

 

100,726

 

 

 

 

 

 

100,726

 

Total

 

$

 

 

$

163,638

 

 

$

 

 

$

163,638

 

Investments in Treasury securities were included in Investments at June 30, 2025 and December 31, 2024 in the Condensed Consolidated Statements of Financial Condition. Investments in money market funds were included in Cash and Cash Equivalents at June 30, 2025 and December 31, 2024 in the Condensed Consolidated Statements of Financial Condition.