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Fair Value (Tables)
 6 Months Ended
Jun. 30, 2021
Fair Value [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present assets and liabilities measured at fair value on a recurring basis, unless otherwise noted, as of the dates specified (in thousands):
   
June 30, 2021
 
Assets
  
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
    
Significant
Other
Observable
Inputs (Level 2)
    
Significant
 Unobservable
Inputs (Level 3)
    
Total
  
Cash equivalents          
  
$
265,990
    
$
-
    
$
-
    
$
265,990
  
Investments in securities (including GBL stock):
                                
Trading - U.S. Treasury Bills          
    
74,993
      
-
      
-
      
74,993
  
Common stocks          
    
266,622
      
5,767
      
51
      
272,440
  
Mutual funds          
    
1,356
      
-
      
-
      
1,356
  
Other          
    
6,639
      
397
      
4,084
      
11,120
  
Total investments in securities          
    
349,610
      
6,164
      
4,135
      
359,909
  
Investments in affiliated registered investment companies:
                                
Closed-end funds          
    
119,635
      
-
      
2,000
      
121,635
  
Mutual funds          
    
69,086
      
-
      
-
      
69,086
  
Total investments in affiliated registered investment companies
    
188,721
      
-
      
2,000
      
190,721
  
Total investments held at fair value          
    
538,331
      
6,164
      
6,135
      
550,630
  
Total assets at fair value          
  
$
804,321
    
$
6,164
    
$
6,135
    
$
816,620
  
Liabilities
                                
Common stocks          
  
$
13,107
    
$
-
    
$
-
    
$
13,107
  
Other          
    
1,455
      
1,904
      
-
      
3,359
  
Securities sold, not yet purchased          
    
14,562
      
1,904
      
-
      
16,466
  
PMV warrant liability
    
-
      
-
      
7,508
      
7,508
  
Total liabilities at fair value
  
$
14,562
    
$
1,904
    
$
7,508
    
$
23,974
  

   
December 31, 2020
 
Assets
  
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
    
Significant
Other
Observable
Inputs (Level 2)
    
Significant
Unobservable
Inputs (Level 3)
    
Total
  
Cash equivalents          
  
$
34,010
    
$
-
    
$
-
    
$
34,010
  
Investments in securities (including GBL stock):
                                
Trading - U.S. Treasury Bills          
    
344,453
      
-
      
-
       344,453  
Common stocks          
    
231,901
      
5,440
      
36
      
237,377
  
Mutual funds          
    
1,294
      
-
      
-
       1,294  
Other          
    
6,133
      
621
      
4,462
      
11,216
  
Total investments in securities          
    
583,781
      
6,061
      
4,498
      
594,340
  
Investments in affiliated registered investment companies:
                                
Closed-end funds          
    
104,719
      
-
      
2,000
      
106,719
  
Mutual funds          
    
63,886
      
-
      
-
       63,886  
Total investments in affiliated registered investment companies
    
168,605
      
-
      
2,000
      
170,605
  
Total investments held at fair value          
    
752,386
      
6,061
      
6,498
      
764,945
  
Total assets at fair value          
  
$
786,396
    
$
6,061
    
$
6,498
    
$
798,955
  
Liabilities
                                
Common stocks          
  
$
16,090
    
$
-
     $ -
   
$
16,090
  
Other          
    
543
      
938
      
-
       1,481
 		 
Securities sold, not yet purchased          
  
$
16,633
    
$
938
     $ -
    
$
17,571
  
Changes in Level 3 Assets
The following table presents additional information about assets and liabilities by major category measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value:
 
   
Three months ended June 30, 2021
    
Three months ended June 30, 2020
  
   
Common Stocks
    
Other
    
Total
    
Common Stocks
    
Other
    
Total
  
Assets:
                                    
Beginning balance          
  
$
51
    
$
6,103
    
$
6,154
    
$
36
    
$
3,895
    
$
4,223
  
Total gains/(losses)          
    
-
      
(19
)
    
(19
)
    
-
      
107
      
107
  
Purchases          
    
-
      
-
      
-
      
-
      
-
      
-
  
Sales          
    
-
      
-
      
-
      
-
      
(41
)
    
(41
)
Transfers          
    
-
      
-
      
-
      
-
      
1,027
      
918
  
Ending balance          
  
$
51
    
$
6,084
    
$
6,135
    
$
36
    
$
4,988
    
$
5,024
  
Changes in net unrealized gain/(loss) included in Net gain/(loss) from investments related to level 3 assets still held as of the reporting date
  
$
-
    
$
(19
)
  
$
(19
)
  
$
-
    
$
92
     $
92
  
 
   
Six months ended June 30, 2021
    
Six months ended June 30, 2020
  
   
Common Stocks
    
Other
    
Total
    
Common Stocks
    
Other
    
Total
  
Assets:
                                    
Beginning balance          
  
$
36
    
$
6,462
    
$
6,498
    
$
89
    
$
4,134
    
$
4,223
  
Total gains/(losses)          
    
15
      
(64
)
    
(49
)
    
(53
)
    
(23
)
    
(76
)
Purchases          
    
-
      
44
      
44
      
-
      
-
      
-
  
Sales          
    
-
      
-
      
-
      
-
      
(41
)
    
(41
)
Transfers          
    
-
      
(358
)
    
(358
)
    
-
      
918
      
918
  
Ending balance          
  
$
51
    
$
6,084
    
$
6,135
    
$
36
    
$
4,988
    
$
5,024
  
Changes in net unrealized gain/(loss) included in Net gain/(loss) from investments related to level 3 assets still held as of the reporting date
  
$
15
    
$
(64
)
  
$
(49
)
  
$
(53
)
  
$
(35
)
  
$
(88
)
Changes in Level 3 Liabilities
The following table presents additional information about assets and liabilities by major category measured at fair value on a recurring basis and for which the Company has utilized Level 3 inputs to determine fair value:
 
   
PMV Warrant Liability
    
Other
    
Total
    
PMV Warrant Liability
    
Other
    
Total
  
Liabilities:
  
                               
Beginning balance
   $ -     $ -    
$
-
    
$
-
    
$
-
    
$
-
  
Total (gains)/losses
     (825 )     -
      
(825
)
    
-
      
-
      
-
  
Issuances
     8,333
       -
      
8,333
      
-
      
-
      
-
  
Ending balance
   $ 7,508     $ -     $ 7,508     $ -    
$
-
    
$
-
  
Changes in net unrealized (gain)/loss included in Net (gain)/loss from investments related to level 3 assets still held as of the reporting date
   $ (825 )   $ -    
$
(825
)
  
$
-
    
$
-
    
$
-
  
 
   
PMV Warrant Liability
    
Other
    
Total
    
PMV Warrant Liability
    
Other
    
Total
  
Liabilities:
                                    
Beginning balance
  
$
-
    
$
-
    
$
-
    
$
-
    
$
-
    
$
-
  
Total (gains)/losses
    
(825
)
    
-
      
(825
)
    
-
      
-
      
-
  
Issuances
    
8,333
      
-
      
8,333
      
-
      
-
      
-
  
Ending balance
  
$
7,508
    
$
-
    
$
7,508
    
$
-
    
$
-
    
$
-
  
Changes in net unrealized (gain)/loss included in Net (gain)/loss from investments related to level 3 assets still held as of the reporting date
  
$
(825
)
  
$
-
    
$
(825
)
  
$
-
    
$
-
    
$
-
  
Carrying Amounts and Estimated Fair Values of Financial Assets
The following table presents the carrying amounts and estimated fair values of financial assets that are not measured at fair value on a recurring basis and their respective levels within the fair value hierarchy:
   
As of June 30, 2021
    
As of December 31, 2020
  
Assets
  
Level Within Fair Value Hierarchy
    
Fair Value
    
Amortized Cost
    
Level Within Fair Value Hierarchy
    
Fair Value
    
Amortized Cost
  
                                     
Investment in note receivable from affiliate(1)          
    
2
    
$
5,066
    
$
5,066
      
-
    
$
-
    
$
-
  
Total assets          
          
$
5,066
    
$
5,066
      
-
    
$
-
    
$
-
  

(1) Included in Receivable and investment in note receivable from affiliates in the condensed consolidated statement of financial condition.