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Equity Method Investments
 12 Months Ended
Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract]  
Equity Method Investments Equity Method Investments
The Company's equity method investments included in Investments on the accompanying Consolidated Balance Sheets consist of:
20252024
Investment in LSV Asset Management$121,512 $114,299 
Other equity method investments67,637 9,483 
Total$189,149 $123,782 
LSV Asset Management
The Company has an investment in the general partnership LSV Asset Management (LSV), a registered investment advisor that provides investment advisory services primarily to institutions, including pension plans and investment companies. LSV is currently an investment sub-advisor for a limited number of SEI-sponsored investment products. On April 1, 2025, LSV provided an interest in the partnership to select key employees which reduced the ownership percentage of each existing partner on a pro-rata basis. As a result, the Company's total partnership interest in LSV was reduced slightly to approximately 38.5% from approximately 38.6%. As of December 31, 2025, the Company's total partnership interest in LSV was approximately 38.5%.
The Company accounts for its interest in LSV using the equity method because of its less than 50% ownership. The Company’s interest in the earnings of LSV is reflected in Equity in earnings of unconsolidated affiliates on the accompanying Consolidated Statements of Operations.
At December 31, 2025 and 2024, the Company’s total investment in LSV was $121,512 and $114,299, respectively, and is included in Investments on the accompanying Consolidated Balance Sheets (See Note 5). The Company’s proportionate share in the earnings of LSV was $132,265, $135,741 and $126,930 in 2025, 2024 and 2023, respectively. The Company receives partnership distributions related to the earnings of LSV on a quarterly basis. As such, the Company considers these distribution payments as returns on investment rather than returns of the Company's original investment in LSV and has therefore classified the associated cash inflows as an operating activity on the Consolidated Statements of Cash Flows. The Company received partnership distribution payments from LSV of $127,292, $139,119 and $121,582 in 2025, 2024 and 2023, respectively.
These tables contain condensed financial information of LSV:
Condensed Statement of Operations
Year ended December 31,
202520242023
Revenues$455,783 $457,589 $426,270 
Net income$342,989 $351,815 $328,905 
Condensed Balance Sheets
December 31,
20252024
Current assets$205,888 $170,055 
Non-current assets4,541 5,313 
Total assets$210,429 $175,368 
 
Current liabilities$105,384 $82,356 
Non-current liabilities4,704 5,382 
Partners’ capital100,341 87,630 
Total liabilities and partners’ capital$210,429 $175,368 
Other Equity Method Investments
The Company's other equity method investments consist of several firms acquired in connection with the Stratos Acquisition (See Note 14) in December 2025 and an investment in a non-affiliated limited partnership fund in which the Company holds a more than minor interest. At December 31, 2025, the value of equity method entities acquired in connection with the Stratos Acquisition was $57,153. At December 31, 2025 and 2024, the value of the Company’s investment in the limited partnership fund was $10,484 and $9,483, respectively.