Fair Value (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Partnership's Financial Assets and Liabilities at Fair Value

The following tables show the Partnership’s financial assets and liabilities measured at fair value as of:

	September 30, 2022
	Level I		Level II		Level III		Total
Assets:
Cash equivalents:
Certificates of deposit	$	—	$	246	$	—	$	246
Money market funds		41		—		—		41
Total cash equivalents	$	41	$	246	$	—	$	287
Investments segregated under federal regulations:
U.S. treasuries	$	12,253	$	—	$	—	$	12,253
Certificates of deposit		—		400		—		400
Total investments segregated under federal regulations	$	12,253	$	400	$	—	$	12,653
Securities owned:
Investment securities:
Government and agency obligations	$	807	$	—	$	—	$	807
Mutual funds(1)		289		—		—		289
Equities		7		—		—		7
Total investment securities	$	1,103	$	—	$	—	$	1,103
Inventory securities:
Equities	$	24	$	—	$	—	$	24
Municipal obligations		—		22		—		22
Corporate bonds and notes		—		20		—		20
Certificates of deposit		—		17		—		17
Mutual funds		8		—		—		8
Total inventory securities	$	32	$	59	$	—	$	91
Other assets:
Client fractional share ownership assets	$	593	$	—	$	—	$	593
Liabilities:
Accounts payable, accrued expenses and other:
Client fractional share redemption obligations	$	593	$	—	$	—	$	593

	December 31, 2021
	Level I		Level II		Level III		Total
Assets:
Cash equivalents:
Certificates of deposit	$	—	$	266	$	—	$	266
Money market funds		47		—		—		47
Total cash equivalents	$	47	$	266	$	—	$	313
Investments segregated under federal regulations:
U.S. treasuries	$	13,908	$	—	$	—	$	13,908
Certificates of deposit		—		400		—		400
Total investments segregated under federal regulations	$	13,908	$	400	$	—	$	14,308
Securities owned:
Investment securities:
Government and agency obligations	$	413	$	—	$	—	$	413
Mutual funds(1)		366		—		—		366
Equities		3		—		—		3
Certificates of deposit		—		70		—		70
Total investment securities	$	782	$	70	$	—	$	852
Inventory securities:
Equities	$	18	$	—	$	—	$	18
Municipal obligations		—		9		—		9
Certificates of deposit		—		6		—		6
Corporate bonds and notes		—		3		—		3
Mutual funds		2		—		—		2
Total inventory securities	$	20	$	18	$	—	$	38
Other assets:
Client fractional share ownership assets	$	710	$	—	$	—	$	710
Liabilities:
Accounts payable, accrued expenses and other:
Client fractional share redemption obligations	$	710	$	—	$	—	$	710