v3.26.1
Consolidated Statements of Financial Condition (Unaudited) - USD ($)
$ in Millions
Mar. 27, 2026
Dec. 31, 2025
ASSETS:    
Cash and cash equivalents $ 2,625 $ 3,782
Cash and investments segregated under federal regulations 12,877 14,069
Securities purchased under agreements to resell 583 687
Receivables from:    
Clients 5,577 5,369
Mutual funds, insurance companies and other 1,140 1,047
Brokers, dealers and clearing organizations 502 520
Securities owned, at fair value:    
Investment securities 1,051 477
Inventory securities 48 54
Fixed assets, at cost, net of accumulated depreciation and amortization 1,796 1,759
Lease right-of-use assets 1,183 1,169
Other assets 1,629 1,575
TOTAL ASSETS 29,011 30,508
Payables to    
Clients 17,844 18,605
Brokers, dealers and clearing organizations 118 95
Accrued compensation and employee benefits 2,887 3,600
Accounts payable, accrued expenses and other 1,560 2,190
Lease liabilities 1,226 1,216
Total liabilities before partnership capital 23,635 25,706
Contingencies (Note 8)
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans 4,925 4,124
Reserve for anticipated withdrawals 451 678
Total partnership capital and profits interests subject to mandatory redemption 5,376 4,802
TOTAL LIABILITIES 29,011 30,508
Limited Partnership Capital [Member]    
Payables to    
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans 1,726 1,713
Subordinated Limited Partnership Capital [Member]    
Payables to    
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans 746 742
General Partnership Capital [Member]    
Payables to    
Partnership capital subject to mandatory redemption, net of reserve for anticipated withdrawals and partnership loans $ 2,453 $ 1,669