| Offsetting Assets and Liabilities |
Offsetting Assets and Liabilities See Note 14, Consolidated Company-Sponsored Investment Funds, for disclosure of offsetting assets and liabilities of our consolidated company-sponsored investment funds.
Offsetting of assets as of September 30, 2026 and December 31, 2025 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gross Amounts of Recognized Assets | | Gross Amounts Offset in the Statement of Financial Condition | | Net Amounts of Assets Presented in the Statement of Financial Condition | | Financial
Instruments Collateral | | Cash Collateral | | Net
Amount | | (in thousands) | | September 30, 2026: | | | | | | | | | | | | | Securities borrowed | $ | 17,415 | | | $ | — | | | $ | 17,415 | | | $ | (16,992) | | | $ | — | | | $ | 423 | | | Derivatives | $ | 21,340 | | | $ | — | | | $ | 21,340 | | | $ | — | | | $ | (6,762) | | | $ | 14,578 | | | | | | | | | | | | | | | December 31, 2025: | | | | | | | | | | | | | Securities borrowed | $ | 14,689 | | | $ | — | | | $ | 14,689 | | | $ | (14,539) | | | $ | — | | | $ | 150 | | | Derivatives | $ | 12,985 | | | $ | — | | | $ | 12,985 | | | $ | — | | | $ | (5,547) | | | $ | 7,438 | | | | | | | | | | | | | |
Offsetting of liabilities as of September 30, 2026 and December 31, 2025 was as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Gross Amounts of Recognized Liabilities | | Gross Amounts Offset in the Statement of Financial Condition | | Net Amounts of Liabilities Presented in the Statement of Financial Condition | | Financial
Instruments Collateral | |
Cash Collateral | | Net Amount | | (in thousands) | | September 30, 2026: | | | | | | | | | | | | | Securities loaned | $ | 2,284 | | | $ | — | | | $ | 2,284 | | | $ | — | | | $ | (2,214) | | | $ | 70 | | | Derivatives | $ | 15,787 | | | $ | — | | | $ | 15,787 | | | $ | — | | | $ | (10,844) | | | $ | 4,943 | | | | | | | | | | | | | | | December 31, 2025: | | | | | | | | | | | | | Securities loaned | $ | 51,488 | | | $ | — | | | $ | 51,488 | | | $ | — | | | $ | (50,170) | | | $ | 1,318 | | | Derivatives | $ | 17,615 | | | $ | — | | | $ | 17,615 | | | $ | — | | | $ | (10,293) | | | $ | 7,322 | | | | | | | | | | | | | |
Cash collateral, whether pledged or received on derivative instruments, is not considered material and, accordingly, is not disclosed by counterparty.
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