Fair Value (Tables)

6 Months Ended

Jun. 28, 2024

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:

	June 28, 2024
	Level I		Level II		Level III		Total
Assets:
Cash equivalents:
Certificates of deposit	$	—	$	182	$	—	$	182
Money market funds		45		—		—		45
Total cash equivalents	$	45	$	182	$	—	$	227
Investments segregated under federal regulations:
U.S. treasuries	$	8,454	$	—	$	—	$	8,454
Certificates of deposit		—		1,200		—		1,200
Total investments segregated under federal regulations	$	8,454	$	1,200	$	—	$	9,654
Securities owned:
Investment securities:
Government and agency obligations	$	600	$	—	$	—	$	600
Mutual funds(1)		348		—		—		348
Certificates of deposit		—		100		—		100
Municipal obligations		—		12		—		12
Equities		8		—		—		8
Total investment securities	$	956	$	112	$	—	$	1,068
Inventory securities:
Municipal obligations	$	—	$	54	$	—	$	54
Mutual funds		41		—		—		41
Corporate bonds and notes		—		10		—		10
Equities		8		—		—		8
Certificates of deposit		—		5		—		5
Government and agency obligations		5		—		—		5
Total inventory securities	$	54	$	69	$	—	$	123
Other assets:
Client fractional share ownership assets	$	899	$	—	$	—	$	899
Liabilities:
Accounts payable, accrued expenses and other:
Client fractional share redemption obligations	$	899	$	—	$	—	$	899

	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

(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.