Intangibles Assets

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

4. Intangible Assets

Intangible assets are composed of the following:


	June 30, 2026						December 31, 2025
(In thousands)	Carrying Amount (1)(2)		Accumulated Amortization(1)(2)		Net Carrying Amount(1)		Carrying Amount (1)(2)		Accumulated Amortization(1)(2)		Net Carrying Amount(1)
Investment management contracts	$	138,232	$	(122,280)	$	15,952	$	139,682	$	(117,342)	$	22,340
Investor relationships	54,225		(33,400)		20,825		54,497		(30,634)		23,863
Trade name	4,300		(2,984)		1,316		4,300		(2,769)		1,531
Other (3)	1,518		(933)		585		1,518		(857)		661
	$	198,275	$	(159,597)	$	38,678	$	199,997	$	(151,602)	$	48,395

__________

(1) Presented net of impairments and write-offs, if any.

(2) Exclude intangible assets that were fully amortized in prior years.

(3) Represents primarily the value of an acquired domain name.

Amortization expense for finite-lived intangible assets totaled $4.8 million and $6.6 million for the three months ended June 30, 2026 and 2025, respectively, and $9.5 million and $13.2 million for the six months ended June 30, 2026 and 2025, respectively. There was no impairment of identifiable intangible assets in the periods presented.

Future Amortization of Intangible Assets

The following table presents the expected future amortization of finite-lived intangible assets:


	Year Ending December 31,
(In thousands)	Remaining 2026		2027		2028		2029		2030		2031 and thereafter		Total




Amortization expense	$	8,302	$	12,041	$	7,947	$	3,134	$	1,471	$	5,783	$	38,678