Investments (Tables)

12 Months Ended

Dec. 31, 2025

The fair value of the Company's financial assets as of December 31, 2025, have been categorized based upon the fair value hierarchy as follows:


	Total		Level 1		Level 2		Level 3
Financial assets:
Cash equivalents
Sovereign debt securities	$	296,312	$	—	$	296,312	$	—
Money market funds		110,468		—		110,468		—
Certificates of Deposit		21,000		—		21,000		—
Total financial assets included in cash equivalents		427,780		—		427,780		—
Investments
Sovereign debt securities		340,247		—		340,247		—
Total financial assets included in investments		340,247		—		340,247		—
Total financial assets	$	768,027	$	—	$	768,027	$	—

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 equivalents
Sovereign debt securities	$	240,558	$	—	$	240,558	$	—
Money market funds		100,227		—		100,227		—
Certificates of Deposit		10,137		—		10,137		—
Total financial assets included in cash equivalents		350,922		—		350,922		—
Investments
Sovereign debt securities		146,924		—		146,924		—
Certificates of Deposit		1,000		—		1,000		—
Total financial assets included in investments		147,924		—		147,924		—
Total financial assets	$	498,846	$	—	$	498,846	$	—

Moelis & Co 10-K