v3.26.1
FAIR VALUE MEASUREMENTS - Schedule of financial assets and liabilities measured on recurring basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Securities and other investments owned:    
Total securities and other investments owned $ 380,628 $ 199,358
Loans receivable, at fair value 26,303 90,103
Total assets measured at fair value 406,931 289,461
Securities sold not yet purchased:    
Total securities sold not yet purchased 9,809 5,675
Contingent consideration   4,538
Liability-classified warrants 6,400  
Total liabilities measured at fair value 16,209 10,213
Quoted prices in active markets for identical assets (Level 1)    
Securities and other investments owned:    
Total securities and other investments owned 236,156 150,353
Loans receivable, at fair value 0 0
Total assets measured at fair value 236,156 150,353
Securities sold not yet purchased:    
Total securities sold not yet purchased 9,342 0
Contingent consideration   0
Liability-classified warrants 0  
Total liabilities measured at fair value 9,342 0
Level 2    
Securities and other investments owned:    
Total securities and other investments owned 33,167 8,489
Loans receivable, at fair value 0 0
Total assets measured at fair value 33,167 8,489
Securities sold not yet purchased:    
Total securities sold not yet purchased 467 5,675
Contingent consideration   0
Liability-classified warrants 0  
Total liabilities measured at fair value 467 5,675
Level 3    
Securities and other investments owned:    
Total securities and other investments owned 111,305 40,516
Loans receivable, at fair value 26,303 90,103
Total assets measured at fair value 137,608 130,619
Securities sold not yet purchased:    
Total securities sold not yet purchased 0 0
Contingent consideration   4,538
Liability-classified warrants 6,400  
Total liabilities measured at fair value 6,400 4,538
Equity securities    
Securities and other investments owned:    
Total securities and other investments owned 304,422 165,408
Securities sold not yet purchased:    
Total securities sold not yet purchased 9,342  
Equity securities | Quoted prices in active markets for identical assets (Level 1)    
Securities and other investments owned:    
Total securities and other investments owned 233,199 124,892
Securities sold not yet purchased:    
Total securities sold not yet purchased 9,342  
Equity securities | Level 2    
Securities and other investments owned:    
Total securities and other investments owned 0 0
Securities sold not yet purchased:    
Total securities sold not yet purchased 0  
Equity securities | Level 3    
Securities and other investments owned:    
Total securities and other investments owned 71,223 40,516
Securities sold not yet purchased:    
Total securities sold not yet purchased 0  
Partnership interests and other investments    
Securities and other investments owned:    
Total securities and other investments owned 40,082  
Partnership interests and other investments | Quoted prices in active markets for identical assets (Level 1)    
Securities and other investments owned:    
Total securities and other investments owned 0  
Partnership interests and other investments | Level 2    
Securities and other investments owned:    
Total securities and other investments owned 0  
Partnership interests and other investments | Level 3    
Securities and other investments owned:    
Total securities and other investments owned 40,082  
Corporate bonds    
Securities and other investments owned:    
Total securities and other investments owned 31,751 29,027
Securities sold not yet purchased:    
Total securities sold not yet purchased 467 1,891
Corporate bonds | Quoted prices in active markets for identical assets (Level 1)    
Securities and other investments owned:    
Total securities and other investments owned 0 25,461
Securities sold not yet purchased:    
Total securities sold not yet purchased 0 0
Corporate bonds | Level 2    
Securities and other investments owned:    
Total securities and other investments owned 31,751 3,566
Securities sold not yet purchased:    
Total securities sold not yet purchased 467 1,891
Corporate bonds | Level 3    
Securities and other investments owned:    
Total securities and other investments owned 0 0
Securities sold not yet purchased:    
Total securities sold not yet purchased 0 0
Other fixed income securities    
Securities and other investments owned:    
Total securities and other investments owned 4,373 4,923
Securities sold not yet purchased:    
Total securities sold not yet purchased   3,784
Other fixed income securities | Quoted prices in active markets for identical assets (Level 1)    
Securities and other investments owned:    
Total securities and other investments owned 2,957 0
Securities sold not yet purchased:    
Total securities sold not yet purchased   0
Other fixed income securities | Level 2    
Securities and other investments owned:    
Total securities and other investments owned 1,416 4,923
Securities sold not yet purchased:    
Total securities sold not yet purchased   3,784
Other fixed income securities | Level 3    
Securities and other investments owned:    
Total securities and other investments owned $ 0 0
Securities sold not yet purchased:    
Total securities sold not yet purchased   $ 0