Note 5 - Long-Term Equity Investments

6 Months Ended

Jun. 30, 2026

Note 5. Long-Term Equity Investments

The Company holds interests in several privately held companies as long-term investments. The following table presents the Company’s long-term investments as of June 30, 2026, and December 31, 2025 ($ in thousands):

	*June 30, 2026*				*December 31, 2025*
			*Carrying*				*Carrying*
	*Cost Basis*		*Value*		*Cost Basis*		*Value*
Investment in Kerna Health	$	2,140	$	4,940	$	2,140	$	4,940
Investment in Revere Master SPV Series 1 (Qxpress Pte Ltd)*		1,000		1,000		1,000		1,000
Investment in MW LSV MasterClass, LLC (Yanka Industries, Inc. d.b.a.
Masterclass)*		170		170		170		170
Investment in Payward, Inc. and MWSI VC Kraken-II, LLC (Payward, Inc. d.b.a.Kraken)* *		597		364		597		364
Investment in Aeon Partners Fund Series EG (Epic Games, Inc.)*		3,500		848		3,500		2,248
Investment in Tesspay, Inc. and Revere Master SPV Series VI (TessPay, Inc.)**		1,240		1,240		1,240		1,240
Investment in Discord Inc.		476		476		476		476
Investment in Automation Anywhere, Inc.		476		397		476		397
Investment in Dominari Master SPV LLC Series VI (X.AI Corp. d.b.a. xAI)*		-		-		100		109
Investment in Dominari Master SPV LLC Series XI (Cerebras Systems Inc.)*		-		-		25		25
Investment in Dominari Master SPV LLC Series XII (Groq, Inc.)*		-		-		25		25
Investment in AdvEn Inc.		750		750		750		750
Investment in American Ventures LLC Series XX (TracX Logis Pte Ltd..)*		102		102		-		-
Total	$	10,451	$	10,287	$	10,499	$	11,744

*	Investments made in these companies are through a Special Purpose Vehicle (“SPV”). The SPV is the holder of the actual stock. The Company does not hold these stock certificates directly.

**	Investment made in these companies are through both an SPV and direct investments.

The Company recorded a decrease in the carrying values of approximately $1.4 million and an increase of approximately $31.7 million for the three months ended June 30, 2026 and 2025, respectively. The Company recorded a decrease in the carrying values of approximately $1.4 million and an increase of approximately $32.0 million for the six months ended June 30, 2026 and 2025, respectively. Please see below details of the changes in carrying value by investment.

Investment in Aeon Partners Fund Series EG (Epic Games, Inc.)

The Company recorded a decrease in the carrying value of its investment by approximately $1.4 million as a result of the revaluing its membership units based upon a July 2026 redemption of 400 membership units at a price of $415 per unit.

Investment in Dominari Master SPV LLC Series VI (X.AI Corp. d.b.a. xAI)

As a result of X.AI being acquired by SpaceX in February 2026 in an all-stock transaction and then the corresponding SpaceX initial public offering in June 2026, the investment has been reclassified as a marketable security as of June 30, 2026.

Investment in Dominari Master SPV LLC Series XI (Cerebras Systems Inc.)

As a result of the Cerebras initial public offering on May 14, 2026, the Company's investment in Cerebras was moved to marketable securities as of June 30, 2026.

Investment in Dominari Master SPV LLC Series XII (Groq, Inc.)

The Company received $58 thousand in distributions from Groq as aresult of a NVIDIA Licensing Agreement payout. As part of the licensing deal with NVIDIA, the Company's shares of Groq were sold as part of the transaction.

On July 25, 2024, the Company entered into an agreement (the “Groq Agreement”) with Dominari Master SPV LLC whereby the Company agreed to purchase 25,000 Series XII Groq Units for $25 thousand. As of June 30, 2026, there was no change to the carrying value. On April 6, 2026, the Company received a payment of $58 thousand as a payment related to the Company’s investment.

Investment in American Ventures LLC Series XX TracX Logis (TracX Logis Pte. Ltd.)

On January 13, 2026, the Company entered into an agreement (the “TracX Agreement”) with American Ventures LLC whereby the Company agreed to purchase Series XX TracX Logis units for $102 thousand.