Investments (Q2) (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2025

Dec. 31, 2024

Investments, All Other Investments [Abstract]

Schedule of Investments


			June 30, 2025			December 31, 2024
Equity-method investments			$23,407			$17,547
Investment in debt securities - AFS			9,017			11,187
Total Investments			$32,424			$28,734


			Successor			Predecessor
			December 31, 2024			December 31, 2023
Equity-method investments			$17,547			$4,482
Exchange-traded investments at fair value			—			9,685
Investment in debt securities - AFS			11,187			—
Total Investments			$28,734			$14,167