Investment Securities (Tables)

9 Months Ended

Feb. 28, 2026

Investments [Abstract]

Schedule of Investment Debt Securities Portfolio and Fair Value

The following table presents the composition of our investment debt securities portfolio and the fair value as of February 28, 2026 and May 31, 2025, reflecting the continued wind-down of this portfolio as we reduce our holdings over time.

Table 3.1: Investments in Debt Securities, at Fair Value

(Dollars in thousands)	February 28, 2026		May 31, 2025
Debt securities, at fair value:
Corporate debt securities	$	42,093	$	107,957
Commercial agency mortgage-backed securities (“MBS”)(1)	417		525
U.S. state and municipality debt securities	—		1,049
Other asset-backed securities(2)	110		4,132
Total debt securities trading, at fair value	$	42,620	$	113,663

____________________________

(1)Consists of securities backed by the Federal National Mortgage Association (“Fannie Mae”) and the Federal Home Loan Mortgage Corporation (“Freddie Mac”).

(2)Consists primarily of securities backed by auto lease loans, equipment-backed loans, auto loans and credit card loans.