Fair Value (Tables)

9 Months Ended

Sep. 29, 2023

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 29, 2023
	Level I		Level II		Level III		Total
Assets:
Cash equivalents:
Certificates of deposit	$	—	$	614	$	—	$	614
Money market funds		63		—		—		63
Total cash equivalents	$	63	$	614	$	—	$	677
Investments segregated under federal regulations:
U.S. treasuries	$	8,693	$	—	$	—	$	8,693
Certificates of deposit		—		1,500		—		1,500
Total investments segregated under federal regulations	$	8,693	$	1,500	$	—	$	10,193
Securities owned:
Investment securities:
Government and agency obligations	$	781	$	—	$	—	$	781
Mutual funds(1)		314		—		—		314
Certificates of deposit		—		100		—		100
Municipal obligations		—		23		—		23
Equities		10		—		—		10
Total investment securities	$	1,105	$	123	$	—	$	1,228
Inventory securities:
Mutual funds	$	54	$	—	$	—	$	54
Municipal obligations		—		31		—		31
Equities		23		—		—		23
Corporate bonds and notes		—		10		—		10
Certificates of deposit		—		5		—		5
Government and agency obligations		2		—		—		2
Total inventory securities	$	79	$	46	$	—	$	125
Other assets:
Client fractional share ownership assets	$	731	$	—	$	—	$	731
Liabilities:
Accounts payable, accrued expenses and other:
Client fractional share redemption obligations	$	731	$	—	$	—	$	731

	December 31, 2022
	Level I		Level II		Level III		Total
Assets:
Cash equivalents:
Certificates of deposit	$	—	$	144	$	—	$	144
Money market funds		49		—		—		49
Total cash equivalents	$	49	$	144	$	—	$	193
Investments segregated under federal regulations:
U.S. treasuries	$	10,327	$	—	$	—	$	10,327
Certificates of deposit		—		1,000		—		1,000
Total investments segregated under federal regulations	$	10,327	$	1,000	$	—	$	11,327
Securities owned:
Investment securities:
Government and agency obligations	$	1,000	$	—	$	—	$	1,000
Mutual funds(1)		310		—		—		310
Municipal obligations		—		11		—		11
Equities		8		—		—		8
Total investment securities	$	1,318	$	11	$	—	$	1,329
Inventory securities:
Municipal obligations	$	—	$	28	$	—	$	28
Corporate bonds and notes		—		21		—		21
Equities		20		—		—		20
Mutual funds		4		—		—		4
Government and agency obligations		3		—		—		3
Total inventory securities	$	27	$	49	$	—	$	76
Other assets:
Client fractional share ownership assets	$	680	$	—	$	—	$	680
Liabilities:
Accounts payable, accrued expenses and other:
Client fractional share redemption obligations	$	680	$	—	$	—	$	680

(1)The mutual funds balance consists primarily of securities held to economically hedge future liabilities for the non-qualified deferred compensation plan. The balance also includes a security held for regulatory purposes at the Trust Co.