v3.25.2
Note 8 - Fair Value Disclosures - Fair Value Measurements on a Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
Investments-trading $ 170,955 $ 148,332
Total other investments, at fair value 50,575 35,262
Trading securities sold, not yet purchased 37,160 36,432
Other investments, sold not yet purchased 0 1,651
US Government Agencies Debt Securities [Member]    
Trading securities sold, not yet purchased 0 40
US Treasury Securities [Member]    
Trading securities sold, not yet purchased 15,173 24,917
Fair Value, Recurring [Member]    
Investments-trading 170,955 148,332
Total other investments, at fair value 50,575 35,262
Trading securities sold, not yet purchased 37,160 36,432
Other investments, sold not yet purchased   1,651
Fair Value, Recurring [Member] | Residential Mortgage-Backed Securities [Member]    
Investments-trading 4 5
Fair Value, Recurring [Member] | SBA Loans [Member]    
Investments-trading 26,228 28,328
Fair Value, Recurring [Member] | Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]    
Investments-trading 86,697 45,911
Fair Value, Recurring [Member] | US Government Agencies Debt Securities [Member]    
Investments-trading 17,029 21,242
Trading securities sold, not yet purchased   40
Fair Value, Recurring [Member] | US Treasury Securities [Member]    
Investments-trading 299  
Trading securities sold, not yet purchased 15,173 24,917
Fair Value, Recurring [Member] | Total Investments not Measured at NAV [Member]    
Total other investments, at fair value 41,395 26,005
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Investments-trading 161,804 147,980
Trading securities sold, not yet purchased 21,987 11,432
Other investments, sold not yet purchased   470
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Residential Mortgage-Backed Securities [Member]    
Investments-trading 4 5
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | SBA Loans [Member]    
Investments-trading 26,228 28,328
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Mortgage-Backed Security, Issued by US Government-Sponsored Enterprise [Member]    
Investments-trading 86,697 45,911
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member]    
Investments-trading 17,029 21,242
Trading securities sold, not yet purchased   40
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Total Investments not Measured at NAV [Member]    
Total other investments, at fair value 20,431 17,329
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Investments-trading 9,151 352
Trading securities sold, not yet purchased 15,173 25,000
Other investments, sold not yet purchased   1,181
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member]    
Investments-trading 0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member]    
Investments-trading 299  
Trading securities sold, not yet purchased 15,173 24,917
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member] | Total Investments not Measured at NAV [Member]    
Total other investments, at fair value 20,964 8,676
Fair Value, Recurring [Member] | Fair Value Measured at Net Asset Value Per Share [Member]    
Total other investments, at fair value 9,180 [1] 9,257 [2]
Corporate Bonds and Redeemable Preferred Stock [Member]    
Investments-trading 20,390 27,043
Trading securities sold, not yet purchased 9,616 7,342
Corporate Bonds and Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member]    
Investments-trading 20,390 27,043
Total other investments, at fair value 522 531
Trading securities sold, not yet purchased 9,616 7,342
Corporate Bonds and Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Investments-trading 20,390 27,043
Total other investments, at fair value 522 531
Trading securities sold, not yet purchased 9,616 7,342
Corporate Bonds and Redeemable Preferred Stock [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Total other investments, at fair value 0  
Derivative [Member]    
Investments-trading 11,349 4,836
Trading securities sold, not yet purchased 12,062 4,050
Derivative [Member] | Fair Value, Recurring [Member]    
Investments-trading 11,349 4,836
Trading securities sold, not yet purchased 12,062 4,050
Derivative [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Investments-trading 11,349 4,836
Trading securities sold, not yet purchased 12,062 4,050
Equity Securities [Member]    
Investments-trading 8,959 965
Total other investments, at fair value 3,681 1,954
Trading securities sold, not yet purchased 309 83
Other investments, sold not yet purchased 0 1,181
Equity Securities [Member] | Fair Value, Recurring [Member]    
Investments-trading 8,959 965
Total other investments, at fair value 3,681 1,954
Trading securities sold, not yet purchased 309 83
Other investments, sold not yet purchased   1,181
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Investments-trading 107 613
Trading securities sold, not yet purchased 309  
Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Investments-trading 8,852 352
Total other investments, at fair value 3,681 1,954
Trading securities sold, not yet purchased   83
Other investments, sold not yet purchased   1,181
Foreign Government Bonds [Member]    
Investments-trading 0 88
Foreign Government Bonds [Member] | Fair Value, Recurring [Member]    
Investments-trading   88
Foreign Government Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Investments-trading   88
Municipal Bonds [Member]    
Investments-trading 0 19,914
Municipal Bonds [Member] | Fair Value, Recurring [Member]    
Investments-trading   19,914
Municipal Bonds [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Investments-trading   19,914
Equity Derivatives [Member]    
Total other investments, at fair value 73 73
Equity Derivatives [Member] | Fair Value, Recurring [Member]    
Total other investments, at fair value 73 73
Equity Derivatives [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Total other investments, at fair value 73 73
Restricted Equity Securities [Member] | Fair Value, Recurring [Member]    
Total other investments, at fair value 25,711 10,632
Restricted Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Total other investments, at fair value 8,428 3,910
Restricted Equity Securities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]    
Total other investments, at fair value 17,283 6,722
Fair Value Receivables [Member]    
Notes receivable 9,932 11,250
Fair Value Receivables [Member] | Fair Value, Recurring [Member]    
Notes receivable 9,932 11,250
Fair Value Receivables [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Notes receivable 9,932 11,250
Interest In SPVs [Member]    
Total other investments, at fair value 1,476 1,565
Interest In SPVs [Member] | Fair Value, Recurring [Member]    
Total other investments, at fair value 1,476 1,565
Interest In SPVs [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Total other investments, at fair value 1,476 1,565
Share Forward Liabilities [Member]    
Other investments, sold not yet purchased $ 0 470
Share Forward Liabilities [Member] | Fair Value, Recurring [Member]    
Other investments, sold not yet purchased   470
Share Forward Liabilities [Member] | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]    
Other investments, sold not yet purchased   $ 470
[1] As a practical expedient, the Company uses NAV (or its equivalent) to measure the fair value of its investments in the U.S. Insurance JV and the CREO JV. The U.S. Insurance JV invests in U.S. Dollar ("USD") denominated debt issued by small insurance and reinsurance companies. The CREO JV invests primarily in multi-family commercial real estate mortgage-backed loans. According to ASC 820, these investments are not categorized within the valuation hierarchy.
[2] As a practical expedient, the Company uses NAV (or its equivalent) to measure the fair value of its investments in the U.S. Insurance JV and the CREO JV. The U.S. Insurance JV invests in USD denominated debt issued by small insurance and reinsurance companies. The CREO JV invests primarily in multi-family commercial real estate mortgage-backed loans. According to ASC 820, these investments are not categorized within the valuation hierarchy.