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


	December 31, 2023
	Level I		Level II		Level III		Total
Assets:
Cash equivalents:
Certificates of deposit	$	—	$	179	$	—	$	179
Money market funds		76		—		—		76
Total cash equivalents	$	76	$	179	$	—	$	255

Investments segregated under federal regulations:
U.S. treasuries	$	9,893	$	—	$	—	$	9,893
Certificates of deposit		—		1,500		—		1,500
Total investments segregated under federal regulations	$	9,893	$	1,500	$	—	$	11,393

Securities owned:
Investment securities:
Government and agency obligations	$	600	$	—	$	—	$	600
Mutual funds(1)		346		—		—		346
Certificates of deposit		—		100		—		100
Municipal obligations		—		12		—		12
Equities		11		—		—		11
Total investment securities	$	957	$	112	$	—	$	1,069

Inventory securities:
Municipal obligations	$	—	$	29	$	—	$	29
Equities		21		—		—		21
Certificates of deposit		—		20		—		20
Mutual funds		9		—		—		9
Corporate bonds and notes		—		5		—		5
Government and agency obligations		4		—		—		4
Total inventory securities	$	34	$	54	$	—	$	88

Other assets:
Client fractional share ownership assets	$	824	$	—	$	—	$	824

Liabilities:
Accounts payable, accrued expenses and other:
Client fractional share redemption obligations	$	824	$	—	$	—	$	824


	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.