v3.25.2
Note 8 - Fair Value Disclosures (Tables)
 6 Months Ended
Jun. 30, 2025
Notes Tables  
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]
                   

Significant

    

Significant

  
           

Quoted Prices in

    

Observable

    

Unobservable

  
           

Active Markets

    

Inputs

    

Inputs

  

Assets

  

Fair Value

    

(Level 1)

    

(Level 2)

    

(Level 3)

  

Investments-trading:

                                

Corporate bonds and redeemable preferred stock

   $ 20,390     $ -     $ 20,390     $ -  

Derivatives

     11,349       -       11,349       -  

Equity securities

     8,959       8,852       107       -  

RMBS

     4       -       4       -  

SBA loans

     26,228       -       26,228       -  

U.S. government agency MBS and CMOs

     86,697       -       86,697       -  

U.S. government agency debt securities

     17,029       -       17,029       -  

U.S. Treasury securities

     299       299       -       -  

Total investments - trading

   $ 170,955     $ 9,151     $ 161,804     $ -  
                                 

Other investments, at fair value:

                                

Equity securities

   $ 3,681     $ 3,681     $ -     $ -  

Equity derivatives

     73       -       73       -  

Restricted equity securities

     25,711       17,283       8,428       -  

Corporate bonds and redeemable preferred stock

     522       -       522       -  

Notes receivable

     9,932       -       9,932       -  

Interests in SPVs

     1,476       -       1,476       -  
      41,395     $ 20,964     $ 20,431     $ -  

Investments measured at NAV (1)

     9,180                          

Total other investments, at fair value

   $ 50,575                          
                                 

Liabilities

                                

Trading securities sold, not yet purchased:

                                

Corporate bonds and redeemable preferred stock

   $ 9,616     $ -     $ 9,616     $ -  

Derivatives

     12,062       -       12,062       -  

Equity securities

     309       -       309       -  

U.S. Treasury securities

     15,173       15,173       -       -  

Total trading securities sold, not yet purchased

   $ 37,160     $ 15,173     $ 21,987     $ -  
                   

Significant

    

Significant

  
           

Quoted Prices in

    

Observable

    

Unobservable

  
           

Active Markets

    

Inputs

    

Inputs

  

Assets

  

Fair Value

    

(Level 1)

    

(Level 2)

    

(Level 3)

  

Investments-trading:

                                

Corporate bonds and redeemable preferred stock

   $ 27,043     $ -     $ 27,043     $ -  

Derivatives

     4,836       -       4,836       -  

Equity securities

     965       352       613       -  

Foreign Government Bond

     88       -       88       -  

Municipal bonds

     19,914       -       19,914       -  

RMBS

     5       -       5       -  

SBA loans

     28,328       -       28,328       -  

U.S. government agency MBS and CMOs

     45,911       -       45,911       -  

U.S. government agency debt securities

     21,242       -       21,242       -  

Total investments - trading

   $ 148,332     $ 352     $ 147,980     $ -  
                                 

Other investments, at fair value:

                                

Equity securities

   $ 1,954     $ 1,954     $ -     $ -  

Equity derivatives

     73       -       73       -  

Restricted equity securities

     10,632       6,722       3,910       -  

Corporate bonds and redeemable preferred stock

     531       -       531       -  

Notes receivable

     11,250       -       11,250       -  

Interests in SPVs

     1,565       -       1,565       -  
      26,005     $ 8,676     $ 17,329     $ -  

Investments measured at NAV (1)

     9,257                          

Total other investments, at fair value

   $ 35,262                          
                                 

Liabilities

                                

Trading securities sold, not yet purchased:

                                

Corporate bonds and redeemable preferred stock

   $ 7,342     $ -     $ 7,342     $ -  

Derivatives

     4,050       -       4,050       -  

Equity securities

     83       83       -       -  

U.S. government agency debt securities

     40       -       40       -  

U.S. Treasury securities

     24,917       24,917       -       -  

Total trading securities sold, not yet purchased

   $ 36,432     $ 25,000     $ 11,432     $ -  
                                

Other investments, sold not yet purchased:

                                

Equity securities

   $ 1,181     $ 1,181     $ -     $ -  

Share forward liabilities

     470       -       470       -  

Total other investments sold, not yet purchased

   $ 1,651     $ 1,181     $ 470     $ -  
Fair Value, Investments, Entities that Calculate Net Asset Value Per Share [Table Text Block]
    Fair Value June 30, 2025    

Unfunded Commitments

    

Redemption Frequency

    

Redemption Notice Period

  

Other investments, at fair value

                                

CREO JV (a)

   $ 6,623     $ 9,893       N/A       N/A  

U.S. Insurance JV (b)

     2,557       N/A       N/A       N/A  
    $ 9,180                          
   

Fair Value December 31, 2024

    

Unfunded Commitments

    

Redemption Frequency

    

Redemption Notice Period

  

Other investments, at fair value

                                

CREO JV (a)

   $ 6,432     $ 10,118       N/A       N/A  

U.S. Insurance JV (b)

   2,825     N/A     N/A     N/A  
    $ 9,257