Investments (Tables)

9 Months Ended

Sep. 30, 2025

The fair value of the Company's financial assets as of September 30, 2025, have been categorized based upon the fair value hierarchy as follows:


	Total		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents
Money market funds	$	192,291	$	—	$	192,291	$	—
Certificates of Deposit		9,500		—		9,500		—
Total fair value assets included in cash and cash equivalents		201,791		—		201,791		—
Investments
Sovereign debt securities		323,329		—		323,329		—
Certificates of Deposit		15,000		—		15,000		—
Total fair value assets included in investments		338,329		—		338,329		—
Total fair value assets	$	540,120	$	—	$	540,120	$	—

The fair value of the Company's financial assets as of December 31, 2024, have been categorized based upon the fair value hierarchy as follows:


	Total		Level 1		Level 2		Level 3
Financial assets:
Cash and cash equivalents
Sovereign debt securities	$	240,558	$	—	$	240,558	$	—
Money market funds		100,227		—		100,227		—
Certificates of Deposit		10,137		—		10,137		—
Total fair value assets included in cash and cash equivalents		350,922		—		350,922		—
Investments
Sovereign debt securities		146,924		—		146,924		—
Certificates of Deposit		1,000		—		1,000		—
Total fair value assets included in investments		147,924		—		147,924		—
Total fair value assets	$	498,846	$	—	$	498,846	$	—

Moelis & Co 10-Q