Oppenheimer (OPY) 10-Q 26 Jul 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Jul. 26, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	1-12043
Entity Registrant Name	OPPENHEIMER HOLDINGS INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0080034
Entity Address, Address Line One	85 Broad Street
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10004
City Area Code	212
Local Phone Number	668-8000
Title of 12(b) Security	Class A non-voting common stock
Trading Symbol	OPY
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000791963
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Class A Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		10,232,649
Class B Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		99,665

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 33,214,000	$ 28,835,000
Deposits with clearing organizations	108,415,000	78,706,000
Receivable from brokers, dealers and clearing organizations	297,031,000	284,696,000
Receivable from customers, net of allowance for credit losses of $220 ($345 in 2023)	1,161,685,000	1,059,892,000
Income tax receivable	6,009,000	7,199,000
Securities purchased under agreements to resell	4,079,000	5,842,000
Securities owned, including amounts pledged of $867,341 ($689,381 in 2023), at fair value	1,043,256,000	795,312,000
Notes receivable, net	63,342,000	62,640,000
Furniture, equipment and leasehold improvements, net of accumulated depreciation of $87,808 ($82,732 in 2023)	40,163,000	43,874,000
Right-of-use lease assets, net of accumulated amortization of $107,581 ($99,716 in 2023)	132,441,000	140,554,000
Corporate-owned life insurance	94,646,000	88,989,000
Goodwill	142,162,000	142,162,000
Intangible assets	34,187,000	34,340,000
Other assets	101,908,000	101,775,000
Total assets	3,262,538,000	2,874,816,000
Liabilities
Drafts payable	21,762,000	9,002,000
Bank call loans	218,800,000	0
Payable to brokers, dealers and clearing organizations	278,226,000	361,890,000
Payable to customers	325,886,000	369,287,000
Securities sold under agreements to repurchase	822,785,000	640,382,000
Securities sold but not yet purchased, at fair value	177,251,000	31,676,000
Accrued compensation	209,502,000	256,244,000
Accounts payable and other liabilities	69,187,000	82,810,000
Lease liabilities	172,604,000	183,273,000
Senior secured notes, net of debt issuance costs of $283 ($392 in 2023)	112,767,000	112,658,000
Deferred tax liabilities, net of deferred tax assets of $44,087 ($45,961 in 2023)	41,708,000	38,355,000
Total liabilities	2,450,478,000	2,085,577,000
Commitments and contingencies (Note 14)
Stockholders' equity
Common stock ($0.001 par value per share): Class A: shares authorized: 50,000,000; shares issued and outstanding: 10,227,845 and 10,186,783 as of June 30, 2024 and December 31, 2023, respectively Class B: shares authorized, issued and outstanding: 99,665 as of June 30, 2024 and December 31, 2023	10,000	10,000
Additional paid-in capital	23,365,000	31,774,000
Retained earnings	788,739,000	756,468,000
Accumulated other comprehensive income (loss)	(54,000)	914,000
Total Oppenheimer Holdings Inc. stockholders' equity	812,060,000	789,166,000
Noncontrolling interest (Note 2)	0	73,000
Total Stockholders' equity	812,060,000	789,239,000
Total Liabilities and Stockholders' Equity	$ 3,262,538,000	$ 2,874,816,000

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Allowance for credit loss	$ 220	$ 345
Amounts pledged	867,341	689,381
Accumulated depreciation	87,808	82,732
Right of use asset, accumulated amortization	107,581	99,716
Unamortized debt issuance expense	283	392
Deferred tax assets	$ 44,087	$ 45,961
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Class A Stock
Common stock, par value (in dollars per share)	$ 0.001
Common stock, authorized (in shares)	50,000,000	50,000,000
Common stock, issued (in shares)	10,227,845	10,186,783
Common stock, outstanding (in shares)	10,227,845	10,186,783
Class B Stock
Common stock, par value (in dollars per share)	$ 0.001
Common stock, authorized (in shares)	99,665	99,665
Common stock, issued (in shares)	99,665	99,665
Common stock, outstanding (in shares)	99,665	99,665

CONDENSED CONSOLIDATED INCOME S

CONDENSED CONSOLIDATED INCOME STATEMENTS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
REVENUE
Commissions	$ 97,055	$ 88,544	$ 192,905	$ 175,241
Advisory fees	117,197	101,015	232,044	201,559
Investment banking	29,119	19,978	79,656	57,943
Bank deposit sweep income	34,846	44,060	71,531	92,969
Interest	34,805	27,320	61,571	52,261
Principal transactions, net	10,074	16,253	28,308	29,743
Other	7,493	9,019	17,712	18,152
Total revenue	330,589	306,189	683,727	627,868
EXPENSES
Compensation and related expenses	220,727	187,224	442,440	393,516
Communications and technology	24,682	22,783	49,258	45,223
Occupancy and equipment costs	15,516	16,440	31,364	32,341
Clearing and exchange fees	6,780	5,927	12,622	12,190
Interest	21,980	17,467	42,528	30,609
Other	25,039	68,047	52,195	106,639
Total expenses	314,724	317,888	630,407	620,518
Pre-tax income (loss)	15,865	(11,699)	53,320	7,350
Income tax provision (benefit)	5,599	(2,131)	17,310	2,454
Net income (loss)	10,266	(9,568)	36,010	4,896
Net loss attributable to noncontrolling interest, net of tax	0	(168)	(310)	(321)
Net income (loss) attributable to Oppenheimer Holdings Inc.	$ 10,266	$ (9,400)	$ 36,320	$ 5,217
Earnings (loss) per share attributable to Oppenheimer Holdings Inc.
Basic (in dollars per share)	$ 0.99	$ (0.85)	$ 3.49	$ 0.47
Diluted (in dollars per share)	$ 0.92	$ (0.85)	$ 3.29	$ 0.44
Weighted average shares outstanding
Basic (in shares)	10,327,818	11,016,430	10,367,636	11,054,306
Diluted (in shares)	11,111,903	11,016,430	11,083,422	11,911,379
Period end shares outstanding (in shares)	10,327,510	10,984,240	10,327,510	10,984,240

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 10,266	$ (9,568)	$ 36,010	$ 4,896
Other comprehensive loss, net of tax
Currency translation adjustment	(580)	(663)	(967)	(1,160)
Comprehensive income (loss)	9,686	(10,231)	35,043	3,736
Less net loss attributable to noncontrolling interests	0	(168)	(310)	(321)
Comprehensive income (loss) attributable to Oppenheimer Holdings Inc.	$ 9,686	$ (10,063)	$ 35,353	$ 4,057

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (unaudited) - USD ($)	Total	Class A Stock	Parent	Common Stock	Common Stock Class A Stock	Additional paid-in capital	Additional paid-in capital Class A Stock	Retained earnings		Retained earnings Class A Stock	Accumulated other comprehensive income	Noncontrolling interest
Balance at beginning of period at Dec. 31, 2022				$ 11,000		$ 28,628,000		$ 764,178,000			$ 1,416,000	$ 722,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock					$ 0		$ 5,672,000
Repurchase of Class A non-voting common stock for cancellation		$ (7,300,000)			0		(3,687,000)			$ (3,599,000)
Share-based expense						6,642,000
Vested employee share plan awards						(11,578,000)
Capital addition to noncontrolling interest												171,000
Net income (loss)	$ 4,896,000							5,217,000	[1]			(321,000)
Change in redemption value of redeemable noncontrolling interests	565,000					(101,000)						(464,000)
Dividends paid								(3,325,000)
Currency translation adjustment	(1,160,000)										(1,160,000)
Balance at end of period at Jun. 30, 2023	788,422,000		$ 788,314,000	11,000		25,576,000		762,471,000			256,000	108,000
Balance at beginning of period at Dec. 31, 2022	25,466,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Redemption of redeemable noncontrolling interests	(83,000)
Change in redemption value of redeemable noncontrolling interests	565,000					(101,000)						(464,000)
Balance at end of period at Jun. 30, 2023	$ 25,948,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Dividends paid per share (in dollars per share)	$ 0.30
Balance at beginning of period at Dec. 31, 2022				11,000		28,628,000		764,178,000			1,416,000	722,000
Balance at end of period at Dec. 31, 2023	$ 789,239,000			10,000		31,774,000		756,468,000			914,000	73,000
Balance at beginning of period at Dec. 31, 2022	25,466,000
Balance at end of period at Dec. 31, 2023	0
Balance at beginning of period at Mar. 31, 2023				11,000		22,374,000		777,121,000			919,000	433,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock					0		184,000
Repurchase of Class A non-voting common stock for cancellation		(3,600,000)			0		0			(3,599,000)
Share-based expense						3,349,000
Vested employee share plan awards						(259,000)
Capital addition to noncontrolling interest												171,000
Net income (loss)	(9,568,000)							(9,400,000)	[1]			(168,000)
Change in redemption value of redeemable noncontrolling interests	400,000					(72,000)						(328,000)
Dividends paid								(1,651,000)
Currency translation adjustment	(663,000)										(663,000)
Balance at end of period at Jun. 30, 2023	788,422,000		788,314,000	11,000		25,576,000		762,471,000			256,000	108,000
Balance at beginning of period at Mar. 31, 2023	25,557,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Redemption of redeemable noncontrolling interests	(9,000)
Change in redemption value of redeemable noncontrolling interests	400,000					(72,000)						(328,000)
Balance at end of period at Jun. 30, 2023	$ 25,948,000
Increase (Decrease) in Temporary Equity [Roll Forward]
Dividends paid per share (in dollars per share)	$ 0.15
Balance at beginning of period at Dec. 31, 2023	$ 789,239,000			10,000		31,774,000		756,468,000			914,000	73,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock					0		8,409,000
Repurchase of Class A non-voting common stock for cancellation		(9,300,000)			0		(8,384,000)			(924,000)
Share-based expense						6,470,000
Vested employee share plan awards						(15,168,000)
Capital addition to noncontrolling interest												237,000
Net income (loss)	36,010,000							36,320,000	[1]			(310,000)
Change in redemption value of redeemable noncontrolling interests	0					264,000						0
Dividends paid								(3,125,000)
Currency translation adjustment	(967,000)										(968,000)
Balance at end of period at Jun. 30, 2024	812,060,000		812,060,000	10,000		23,365,000		788,739,000			(54,000)	0
Balance at beginning of period at Dec. 31, 2023	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Redemption of redeemable noncontrolling interests	0
Change in redemption value of redeemable noncontrolling interests	0					264,000						0
Balance at end of period at Jun. 30, 2024	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Dividends paid per share (in dollars per share)	$ 0.30
Balance at beginning of period at Mar. 31, 2024				10,000		20,040,000		780,946,000			526,000	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of Class A non-voting common stock					0		171,000
Repurchase of Class A non-voting common stock for cancellation		$ (924,364)			$ 0		$ 0			$ (924,000)
Share-based expense						3,325,000
Vested employee share plan awards						(171,000)
Capital addition to noncontrolling interest												0
Net income (loss)	$ 10,266,000							10,266,000	[1]			0
Change in redemption value of redeemable noncontrolling interests	0					0						0
Dividends paid								(1,549,000)
Currency translation adjustment	(580,000)										(580,000)
Balance at end of period at Jun. 30, 2024	812,060,000		$ 812,060,000	$ 10,000		23,365,000		$ 788,739,000			$ (54,000)	0
Balance at beginning of period at Mar. 31, 2024	0
Increase (Decrease) in Temporary Equity [Roll Forward]
Redemption of redeemable noncontrolling interests	0
Change in redemption value of redeemable noncontrolling interests	0					$ 0						$ 0
Balance at end of period at Jun. 30, 2024	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Dividends paid per share (in dollars per share)	$ 0.15
[1] (1) Attributable to Oppenheimer Holdings Inc.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY AND REDEEMABLE NONCONTROLLING INTERESTS (unaudited) (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001	$ 0.001	$ 0.001

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net income	$ 36,010	$ 4,896
Non-cash items included in net income:
Depreciation and amortization of furniture, equipment and leasehold improvements	5,378	3,897
Deferred income taxes	3,507	2,485
Amortization of intangible assets	153	0
Amortization of notes receivable	8,894	7,570
Amortization of debt issuance costs	109	110
Write-off of debt issuance costs	0	5
Provision for credit losses	(125)	(1)
Share-based compensation	14,435	7,773
Amortization of right-of-use lease assets	12,940	13,945
Gain on repurchase of senior secured notes	0	(51)
Decrease (increase) in operating assets:
Deposits with clearing organizations	(29,709)	1,397
Receivable from brokers, dealers and clearing organizations	(12,335)	(128,143)
Receivable from customers	(101,668)	136,326
Income tax receivable	1,190	(17,196)
Securities purchased under agreements to resell	1,763	0
Securities owned	(247,944)	(425,589)
Notes receivable	(9,596)	(10,948)
Corporate-owned life insurance	(5,657)	(8,466)
Other assets	(1,353)	351
Increase (decrease) in operating liabilities:
Drafts payable	12,760	21,734
Payable to brokers, dealers and clearing organizations	(83,664)	(128,603)
Payable to customers	(43,401)	(55,307)
Securities sold under agreements to repurchase	182,403	484,306
Securities sold but not yet purchased	145,575	18,333
Accrued compensation	(54,706)	(50,792)
Income tax payable	0	(4,130)
Accounts payable and other liabilities	(29,273)	(24,713)
Cash used in operating activities	(194,314)	(150,811)
Cash flows from investing activities
Purchase of furniture, equipment and leasehold improvements	(1,667)	(9,734)
Proceeds from the settlement of Company-owned life insurance	252	555
Cash used in investing activities	(1,415)	(9,179)
Cash flows from financing activities
Cash dividends paid on Class A non-voting and Class B voting common stock	(3,125)	(3,325)
Repurchase of Class A non-voting common stock for cancellation	(9,309)	(7,285)
Payments for employee taxes withheld related to vested share-based awards	(6,758)	(5,907)
Addition to noncontrolling interests	0	171
Redemption of redeemable noncontrolling interests	500
Redemption of redeemable noncontrolling interests		(83)
Repurchase of senior secured notes	0	(1,000)
Increase in bank call loans	218,800	94,400
Cash provided by financing activities	200,108	76,971
Net increase (decrease) in cash, cash equivalents and restricted cash	4,379	(83,019)
Cash, cash equivalents and restricted cash, beginning of period	28,835	137,967
Cash, cash equivalents and restricted cash, end of period	33,214	54,948
Reconciliation of cash and cash equivalents and restricted cash within the condensed consolidated balance sheets:
Cash and cash equivalents	33,214	29,145
Restricted cash	0	25,803
Total cash and cash equivalents and restricted cash	33,214	54,948
Schedule of non-cash financing activities
Employee share plan issuance	13,539	9,062
Supplemental disclosure of cash flow information
Cash paid during the period for interest	41,870	30,113
Cash paid during the period for income taxes, net	$ 12,539	$ 20,322

Organization

Organization	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Oppenheimer Holdings Inc. ("OPY" or the "Parent") is incorporated under the laws of the State of Delaware. The condensed consolidated financial statements include the accounts of OPY and its consolidated subsidiaries (together, the "Company"). Oppenheimer Holdings Inc., through its operating subsidiaries, is a leading middle market investment bank and full service broker-dealer that is engaged in a broad range of activities in the financial services industry, including retail securities brokerage, institutional sales and trading, investment banking (corporate and public finance), equity and fixed income research, market-making, trust services, and investment advisory and asset management services. The Company is headquartered in New York and has 88 retail branch offices in 25 states located throughout the United States and offices in Puerto Rico, Tel Aviv, Israel, Hong Kong, China, London, England, St. Helier, Isle of Jersey, Portugal and Geneva, Switzerland. The principal subsidiaries of OPY are Oppenheimer & Co. Inc. ("Oppenheimer"), a registered broker-dealer in securities and investment adviser under the Investment Advisers Act of 1940; Oppenheimer Asset Management Inc. ("OAM") and its wholly-owned subsidiary, Oppenheimer Investment Management LLC, both registered investment advisers under the Investment Advisers Act of 1940; Oppenheimer Trust Company of Delaware ("Oppenheimer Trust"), a limited purpose trust company that provides fiduciary services such as trust and estate administration and investment management; OPY Credit Corp., which conducts secondary trading activities related to the purchase and sale of loans, primarily on a riskless principal basis; Oppenheimer Europe Ltd., based in the United Kingdom, with offices in the Isle of Jersey, Portugal, and Switzerland, which provides institutional equities and fixed income brokerage and corporate finance and is regulated by the Financial Conduct Authority; and Oppenheimer Investments Asia Limited, based in Hong Kong, China, which provides fixed income and equities brokerage services to institutional investors and is regulated by the Securities and Futures Commission. Oppenheimer owns Freedom Investments, Inc. ("Freedom"), a registered broker dealer in securities, which provides discount brokerage services on a limited basis, and Oppenheimer Israel (OPCO) Ltd., based in Tel Aviv, Israel, which provides investment services in the State of Israel and operates subject to the authority of the Israel Securities Authority.

Summary of significant accounti

Summary of significant accounting policies and estimates	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of significant accounting policies and estimates	Summary of significant accounting policies and estimates Basis of Presentation The accompanying condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America ("U.S. GAAP") and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "Form 10-K"). The accompanying condensed consolidated balance sheet data was derived from the same sources as the audited consolidated financial statements but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Certain reclassifications have been made to prior periods to place them on a basis comparable with current period presentation. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the financial statements and the accompanying disclosures. Although these estimates are based on management's knowledge of current events and actions that the Company may undertake in the future, actual results may differ materially from the estimates. The condensed consolidated results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the results to be expected for any future interim or annual period. Oppenheimer Acquisition Corp. I On October 26, 2021, OPY Acquisition Corp. I (“OHAA”), a special purpose acquisition company, consummated its $126.5 million initial public offering (the “OHAA IPO”). OPY Acquisition LLC I (the “Sponsor”), a Delaware series limited liability company and the Company’s subsidiary was the sponsor of and consolidated OHAA. Upon IPO completion, funds totaling $127.8 million, including proceeds from the OHAA IPO of $126.5 million and $1.3 million investment from the Sponsor, were held in a trust account until the earlier of (i) the completion of a Business Combination or (ii) ten On October 26, 2023, OHAA’s stockholders approved an amendment to its certificate of incorporation to extend the deadline by which it must complete its initial business combination from October 30, 2023 to June 30, 2024 on a month-to-month basis. In the fourth quarter of 2023, a fter careful consideration of the special purpose acquisition company market and after having completed an extensive search, OHAA determined it would be unable to deliver and fund a high quality value enhancing transaction to stockholders despite the extension. Therefore, on December 18, 2023, OHAA determined not to further extend the term it has to complete an initial business combination and instead announced its intention to dissolve and liquidate. On December 28, 2023, all OHAA Class A ordinary shares were cancelled with shareholders receiving their respective share redemption amounts. Accordingly, there were no “Redeemable non-controlling interests” or restricted cash balances associated with the publicly held OHAA Class A ordinary shares recorded on the Company’s consolidated balance sheet as of December 31, 2023. OHAA was dissolved in March 2024. Oppenheimer Principal Investments LLC Oppenheimer Principal Investments LLC ("OPI") is a Delaware special purpose "Series" limited liability company formed in December 2020 and designed to retain and reward talented employees of the Company, primarily in connection with the deployment of Company capital into successful private market investments, and also in connection with the Company's receipt of non-cash compensation from investment banking assignments. OPI is designed to promote alignment of Company, client and employee interests as they relate to profitable investment opportunities. This program acts as an incentive for senior employees to identify attractive private investments for the Company and its clients, and as a retention tool for key employees of the Company. OPI treats its members as partners for tax purposes generally and with respect to the separate Series formed to participate in (i) the incentive fees generated by successful client investments in the Company's Private Market Opportunities program, or (ii) principal investments made by the Company or a portion of the gains thereon, either through the outright purchase of an investment or consideration earned in lieu of an investment banking fee or other transaction fee. Employees who become members of a Series receive a "profit interest", as that term is used in Internal Revenue Service (“IRS”) regulations, and receive an allocation of capital appreciation of the investment held by the particular Series that exceeds a threshold amount established for each Series. Participating employees are also subject to vesting and forfeiture requirements for each Series investment. Vested profit interests are accounted for as compensation expense under FASB Topic ASC 710. Additionally, the Company’s policy is to consolidate those entities where it owns the majority voting interests. The Company owns the majority voting interest of OPI through Oppenheimer Alternative Investment Management (“OAIM”), the managing member of OPI and a subsidiary of OAM. Pursuant to the Company’s policy for consolidation, the Company consolidates OPI. Non-controlling Interests

Financial Instruments - Credit

Financial Instruments - Credit Losses	6 Months Ended
	Jun. 30, 2024
Credit Loss [Abstract]
Financial Instruments - Credit Losses	Financial Instruments - Credit Losses Under ASC 326, "Financial Instruments - Credit Losses", the Company can elect to use an approach to measure the allowance for credit losses using the fair value of collateral where the borrower is required to, and reasonably expected to, continually adjust and replenish the amount of collateral securing the instrument to reflect changes in the fair value of such collateral. The Company has elected to use this approach for securities borrowed, margin loans, and reverse repurchase agreements. No material historical losses have been reported on these assets. See note 9 for details. As of June 30, 2024, the Company had $63.3 million of notes receivable ($62.6 million as of December 31, 2023). Notes receivable represent recruiting and retention payments generally in the form of upfront loans to financial advisors and key revenue producers as part of the Company's overall growth strategy. These notes generally amortize over a service period of 3 to 10 years from the initial date of the note or based on productivity levels of employees. All such notes are contingent on the employees' continued employment with the Company. The unforgiven portion of the notes becomes due on demand in the event the employee departs during the service period. At that point, any uncollected portion of the notes is reclassified into a defaulted notes category. The allowance for uncollectibles is a valuation account that is deducted from the amortized cost basis of the defaulted notes balance to present the net amount expected to be collected. Balances are charged-off against the allowance when management deems the amount to be uncollectible. The Company reserves 100% of the uncollected balance of defaulted notes which are five years and older and applies an expected loss rate to the remaining balance. The expected loss rate is based on historical collection rates of defaulted notes. The expected loss rate is adjusted for changes in environmental and market conditions such as changes in unemployment rates, changes in interest rates and other relevant factors. For the three and six months ended June 30, 2024, no adjustments were made to the expected loss rates. The Company will continuously monitor the effect of these factors on the expected loss rate and adjust it as necessary. The allowance is measured on a pool basis as the Company has determined that the entire defaulted portion of notes receivable has similar risk characteristics. As of June 30, 2024, the uncollected balance of defaulted notes was $6.6 million and the allowance for uncollectibles was $3.9 million. The allowance for uncollectibles consisted of $2.0 million related to defaulted notes balances (five years and older) and $1.9 million (under five years). The following table presents the disaggregation of defaulted notes by year of default as of June 30, 2024: (Expressed in thousands) As of June 30, 2024 2024 $ 251 2023 2,157 2022 141 2021 1,644 2020 423 2019 and prior 1,985 Total $ 6,601 The following table presents activity in the allowance for uncollectibles of defaulted notes for the three and six months ended June 30, 2024 and 2023: (Expressed in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Beginning balance $ 4,091 $ 4,051 $ 3,869 $ 4,327 Additions and other adjustments (238) (237) (16) (513) Ending balance $ 3,853 $ 3,814 $ 3,853 $ 3,814

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company has operating leases for office space and equipment expiring at various dates through 2034. The Company leases its corporate headquarters at 85 Broad Street, New York, New York which houses its executive management team and many administrative functions for the Firm as well as its research, trading, investment banking, and asset management divisions and an office in Troy, Michigan, which among other things, houses its payroll and human resources departments. In addition, the Company has 88 retail branch offices in the United States as well as offices in London, England, St. Helier, Isle of Jersey, Geneva, Switzerland, Tel Aviv, Israel and Hong Kong, China. The Company is constantly assessing its needs for office space and, on a rolling basis, has many leases that expire in any given year. Substantially all of the leases are held by the Company's subsidiary, Viner Finance Inc., which is a wholly owned subsidiary of the Company. Leases with an initial term of 12 months or less are not recorded on the balance sheet; the Company recognizes lease expense for these leases on a straight-line basis over the lease term. Most leases include an option to renew and the exercise of lease renewal options is at the Company's sole discretion. The Company did not include the renewal options as part of the right of use assets and liabilities. The depreciable life of assets and leasehold improvements is limited by the expected lease term. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. As of June 30, 2024, the Company had right-of-use operating lease assets of $132.4 million (net of accumulated amortization of $107.6 million) which are comprised of real estate leases of $129.9 million (net of accumulated amortization of $104.8 million) and equipment leases of $2.5 million (net of accumulated amortization of $2.8 million). As of June 30, 2024, the Company had operating lease liabilities of $172.6 million which are comprised of real estate lease liabilities of $170.1 million and equipment lease liabilities of $2.5 million. The Company had no finance leases as of June 30, 2024. As most of the Company's leases do not provide an implicit rate, the Company uses the incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments. The Company used the incremental borrowing rate on January 1, 2019 for operating leases that commenced prior to that date. The Company used the incremental borrowing rate as of the lease commencement date for the operating leases that commenced subsequent to January 1, 2019. The following table presents the weighted average lease term and weighted average discount rate for the Company's operating leases as of June 30, 2024 and December 31, 2023, respectively: As of June 30, 2024 December 31, 2023 Weighted average remaining lease term (in years) 6.05 6.35 Weighted average discount rate 7.75% 7.72% The following table presents operating lease costs recognized for the three and six months ended June 30, 2024 and June 30, 2023, respectively, which are included in occupancy and equipment costs on the condensed consolidated income statements: (Expressed in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Operating lease costs: Real estate leases - Right-of-use lease asset amortization $ 6,031 $ 6,686 $ 12,077 $ 13,125 Real estate leases - Interest expense 3,228 3,398 6,551 6,607 Equipment leases - Right-of-use lease asset amortization 432 431 863 853 Equipment leases - Interest expense 44 47 90 93 The maturities of lease liabilities as of June 30, 2024 and December 31, 2023 are as follows: (Expressed in thousands) As of June 30, 2024 December 31, 2023 2024 $ 22,059 $ 43,885 2025 40,203 38,759 2026 38,015 36,757 2027 35,641 34,823 2028 22,388 21,660 After 2028 59,577 58,081 Total lease payments $ 217,883 $ 233,965 Less interest (45,279) (50,692) Present value of lease liabilities $ 172,604 $ 183,273 As of June 30, 2024, the Company had $25.2 million of additional real estate operating leases that have not yet commenced ($5.8 million as of December 31, 2023).

Revenue from contracts with cus

Revenue from contracts with customers	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue from contracts with customers	Revenue from contracts with customers Revenue from contracts with customers is recognized when, or as, the Company satisfies its performance obligations by transferring the promised goods or services to customers. A good or service is transferred to a customer when, or as, the customer obtains control of that good or service. A performance obligation may be satisfied over time or at a point in time. Revenue from a performance obligation satisfied over time is recognized by measuring the Company's progress in satisfying the performance obligation in a manner that depicts the transfer of the goods or services to the customer. Revenue from a performance obligation satisfied at a point in time is recognized at the point in time that the Company determines the customer obtains control over the promised good or service. The amount of revenue recognized reflects the consideration to which the Company expects to be entitled in exchange for those promised goods or services (i.e., the "transaction price"). In determining the transaction price, the Company considers multiple factors, including the effects of variable consideration. Variable consideration is included in the transaction price only to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainties with respect to the amount are resolved. In determining when to include variable consideration in the transaction price, the Company considers the range of possible outcomes, the predictive value of its past experiences, the time period during which uncertainties are expected to be resolved and the amount of consideration that is susceptible to factors outside of the Company's influence, such as market volatility or the judgment and actions of third parties. The Company earns revenue from contracts with customers and other sources (principal transactions, interest and other). The following provides detailed information on the recognition of the Company's revenue from contracts with customers: Commissions Commissions from Sales and Trading — The Company earns commission revenue by executing, settling and clearing transactions with clients primarily in exchange-traded and over-the-counter corporate equity and debt securities, money market instruments and exchange-traded options and futures contracts. A substantial portion of the Company's revenue is derived from commissions from private clients through accounts with transaction-based pricing. Trade execution and clearing services, when provided together, represent a single performance obligation as the services are not separately identifiable in the context of the contract. Commission revenue associated with combined trade execution and clearing services, as well as trade execution services on a standalone basis, is recognized at a point in time on trade date when the performance obligation is satisfied. Commission revenue is generally paid on settlement date, which is generally one Mutual Fund Income — The Company earns mutual fund income for sales and distribution of mutual fund shares, which consists of a fixed fee amount and a variable amount. The Company recognizes mutual fund income at a point in time on the trade date when the performance obligation is satisfied which is when the mutual fund interest is sold to the investor. The ongoing distribution fees for distributing investment products from mutual fund companies are generally considered variable consideration because they are based on the value of AUM and are uncertain on trade date. The Company recognizes distribution fees over the investment period as the amounts become known and the portion recognized in the current period may relate to distribution services performed in prior periods. Mutual fund income is generally received within 90 days. Advisory Fees The Company earns management and performance (or incentive) fees in connection with the advisory and asset management services it provides to various types of funds, asset-based programs and investment vehicles through its subsidiaries. Management fees are generally based on the account value at the valuation date per the respective asset management agreements and are recognized over time as the customer receives the benefits of the services evenly throughout the term of the contract. Performance fees are recognized when the return on client AUM exceeds a specified benchmark return or other performance targets over a 12-month measurement period are met. Performance fees are considered variable as they are subject to fluctuation and/or are contingent on a future event over the measurement period and are not subject to adjustment once the measurement period ends. Such fees are computed as of the fund's year-end when the measurement period ends and generally are recorded as earned in the fourth quarter of the Company's fiscal year. Both management and performance fees are generally received within 90 days. Investment Banking The Company earns underwriting revenues by providing capital raising solutions for corporate clients through initial public offerings, follow-on offerings, equity-linked offerings, private investments in public entities, and private placements. Underwriting revenues are recognized at a point in time on trade date, as the client obtains the control and benefit of the capital markets offering at that time. These fees are generally received within 90 days after the transactions are completed. Transaction-related expenses, primarily consisting of legal, travel and other costs directly associated with the transaction, are deferred and recognized in the same period as the related investment banking transaction revenue. Underwriting revenues and related expenses are presented gross on the consolidated income statements. Revenue from financial advisory services includes fees generated in connection with mergers, acquisitions and restructuring transactions. Such revenue and fees are primarily recorded at a point in time when services for the performance obligations have been completed and income is reasonably determinable, generally as set forth under the terms of the engagement. Payment for advisory services is generally due upon a completion of the transaction or milestone. Retainer fees and fees earned from certain advisory services are recognized ratably over the service period as the customer receives the benefit of the services throughout the term of the contracts, and such fees are collected based on the terms of the contracts. Bank Deposit Sweep Income Bank deposit sweep income consists of revenue earned from the FDIC-insured bank deposit program. Under this program, client funds are swept into deposit accounts at participating banks and are eligible for FDIC deposit insurance up to FDIC standard maximum deposit insurance amounts. Fees are earned over time and are generally received within 30 days. Disaggregation of Revenue The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the three and six months ended June 30, 2024 and 2023: (Expressed in thousands) For the Three Months Ended June 30, 2024 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 44,766 $ — $ 44,174 $ 3 $ 88,943 Mutual fund and insurance income 8,106 — 1 5 8,112 Advisory fees 90,947 26,241 — 9 117,197 Investment banking - capital markets 2,807 — 14,022 (1) 16,828 Investment banking - advisory — — 12,291 — 12,291 Bank deposit sweep income 34,847 — — (1) 34,846 Other 3,168 (1) 580 1,942 5,689 Total revenue from contracts with customers 184,641 26,240 71,068 1,957 283,906 Other sources of revenue: Interest 21,626 — 11,410 1,769 34,805 Principal transactions, net 376 — 9,566 132 10,074 Other 2,058 (415) 97 64 1,804 Total other sources of revenue 24,060 (415) 21,073 1,965 46,683 Total revenue $ 208,701 $ 25,825 $ 92,141 $ 3,922 $ 330,589 (Expressed in thousands) For the Three Months Ended June 30, 2023 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 37,666 $ — $ 43,154 $ 8 $ 80,828 Mutual fund and insurance income 7,711 — 1 4 7,716 Advisory fees 78,811 22,196 — 8 101,015 Investment banking - capital markets 1,688 — 7,345 — 9,033 Investment banking - advisory — — 10,945 — 10,945 Bank deposit sweep income 44,060 — — — 44,060 Other 3,284 — 594 21 3,899 Total revenue from contracts with customers 173,220 22,196 62,039 41 257,496 Other sources of revenue: Interest 22,403 — 4,109 808 27,320 Principal transactions, net 1,072 — 13,410 1,771 16,253 Other 4,550 2 24 544 5,120 Total other sources of revenue 28,025 2 17,543 3,123 48,693 Total revenue $ 201,245 $ 22,198 $ 79,582 $ 3,164 $ 306,189 (Expressed in thousands) For the Six Months Ended June 30, 2024 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 89,696 $ — $ 87,219 $ 8 $ 176,923 Mutual fund and insurance income 15,970 — 2 10 15,982 Advisory fees 179,823 52,201 — 20 232,044 Investment banking - capital markets 5,828 — 29,649 (1) 35,476 Investment banking - advisory 21 — 44,159 — 44,180 Bank deposit sweep income 71,532 — — (1) 71,531 Other 6,584 (1) 900 2,922 10,405 Total revenue from contracts with customers 369,454 52,200 161,929 2,958 586,541 Other sources of revenue: Interest 41,822 — 15,713 4,036 61,571 Principal transactions, net 2,112 — 26,299 (103) 28,308 Other 8,346 (1,447) 283 125 7,307 Total other sources of revenue 52,280 (1,447) 42,295 4,058 97,186 Total revenue $ 421,734 $ 50,753 $ 204,224 $ 7,016 $ 683,727 (Expressed in thousands) For the Six Months Ended June 30, 2023 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 76,590 $ — $ 83,201 $ 14 $ 159,805 Mutual fund and insurance income 15,423 — 5 8 15,436 Advisory fees 155,394 46,150 — 15 201,559 Investment banking - capital markets 3,475 — 15,586 — 19,061 Investment banking - advisory — — 38,882 — 38,882 Bank deposit sweep income 92,969 — — — 92,969 Other 7,277 — 1,100 118 8,495 Total revenue from contracts with customers 351,128 46,150 138,774 155 536,207 Other sources of revenue: Interest 42,982 — 7,138 2,141 52,261 Principal transactions, net 2,121 — 23,814 3,808 29,743 Other 8,435 7 138 1,077 9,657 Total other sources of revenue 53,538 7 31,090 7,026 91,661 Total revenue $ 404,666 $ 46,157 $ 169,864 $ 7,181 $ 627,868 Contract Assets and Liabilities The timing of the Company's revenue recognition may differ from the timing of payment by its customers. The Company records contract assets when payment is due from a client conditioned on future performance or the occurrence of other events. Alternatively, when payment precedes the provision of the related services, the Company records deferred revenue until the performance obligations are satisfied. The Company had receivables related to revenue from contracts with customers of $37.3 million and $39.9 million at June 30, 2024 and December 31, 2023, respectively. The Company had no significant impairments related to these receivables during the three months ended June 30, 2024. Deferred revenue relates to IRA fees received annually in advance on customers' IRA accounts managed by the Company, software license fees received upfront from customers and retainer fees and other fees earned from certain advisory transactions where the performance obligations have not yet been satisfied. Total deferred revenue was $2.5 million and $1.1 million at June 30, 2024 and December 31, 2023, respectively. The following presents the Company's receivables and deferred revenue balances from contracts with customers, which are included in other assets and other liabilities, respectively, on the consolidated balance sheet: (Expressed in thousands) As of June 30, 2024 December 31, 2023 Receivables Commission (1) $ 4,286 $ 4,554 Mutual fund income (2) 5,663 5,365 Advisory fees (3) 3,437 5,746 Bank deposit sweep income (4) 4,868 5,223 Investment banking fees (5) 11,856 12,847 Other 7,159 6,126 Total receivables $ 37,269 $ 39,861 Deferred revenue (payables): Investment Banking fees (6) $ 810 $ 1,118 Software license fees (7) 456 — IRA fees (8) 1,220 — $ 2,486 $ 1,118 (1) Commission recorded on trade date but not yet settled. (2) Mutual fund income earned but not yet received. (3) Management and performance fees earned but not yet received. (4) Fees earned from FDIC-insured bank deposit program but not yet received. (5) Underwriting revenue and advisory fees earned but not yet received.. (6) Retainer fees and fees received from certain advisory transactions where the performance obligations have not yet been satisfied. (7) Software license fees received upfront from customers and recognized ratably over the contract period (8) Fee received in advance on an annual basis.

Earnings per share

Earnings per share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Earnings per share	Earnings per share Basic earnings per share is computed by dividing net income over the weighted average number of shares of Class A Stock and Class B Stock outstanding. Diluted earnings per share includes the weighted average number of shares of Class A Stock and Class B Stock outstanding and options to purchase Class A Stock and unvested restricted stock awards of Class A Stock using the treasury stock method. Earnings per share have been calculated as follows: (Expressed in thousands, except number of shares and per share amounts) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Basic weighted average number of shares outstanding 10,327,818 11,016,430 10,367,636 11,054,306 Net dilutive effect of share-based awards, treasury stock method (1) 784,085 — 715,786 857,073 Diluted weighted average number of shares outstanding 11,111,903 11,016,430 11,083,422 11,911,379 Net income attributable to Oppenheimer Holdings Inc. $ 10,266 $ (9,400) $ 36,320 $ 5,217 Earnings per share attributable to Oppenheimer Holdings Inc. Basic $ 0.99 $ (0.85) $ 3.49 $ 0.47 Diluted $ 0.92 $ (0.85) $ 3.29 $ 0.44 (1) For the three months ended June 30, 2024 , there were no shares of Class A Stock with an anti-dilutive effect granted under share-based compensation arrangements. For the six months ended June 30, 2024, the diluted net income per share computation did not include the anti-dilutive effect of 1,000 shares of Class A Stock granted under share-based compensation arrangements. For the three months ended June 30, 2023, the diluted net income per share computation did not include the anti-dilutive effect of 1,138,992 shares of Class A Stock granted under share-based compensation arrangements. For the six months ended June 30, 2023, the diluted net income per share computation did not include the anti-dilutive effect of 281,810 shares of Class A Stock granted under share-based compensation arrangements.

Receivable from and payable to

Receivable from and payable to brokers, dealers and clearing organizations	6 Months Ended
	Jun. 30, 2024
Broker-Dealer [Abstract]
Receivable from and payable to brokers, dealers and clearing organizations	Receivable from and payable to brokers, dealers and clearing organizations (Expressed in thousands) As of June 30, 2024 December 31, 2023 Receivable from brokers, dealers and clearing organizations consisting of: Securities borrowed $ 134,454 $ 158,612 Receivable from brokers 57,699 65,639 Clearing organizations and other (1) 84,824 30,789 Securities failed to deliver 20,054 29,656 Total $ 297,031 $ 284,696 Payable to brokers, dealers and clearing organizations consisting of: Securities loaned $ 247,219 $ 284,987 Securities failed to receive 22,961 23,809 Payable to brokers 1,557 447 Clearing organizations and other (2) 6,489 52,647 Total $ 278,226 $ 361,890 (1) As of June 30, 2024, approximately $41.5 million of this balance represents a receivable for trades executed, but not yet settled. (2) As of December 31, 2023, approximately $48.4 million of this balance represents a payable for trades executed, but not yet settled.

Fair value measurements

Fair value measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair value measurements	Fair value measurements Securities owned, securities sold but not yet purchased, investments and derivative contracts are carried at fair value with changes in fair value recognized in earnings each period. Valuation Techniques A description of the valuation techniques applied, and inputs used in measuring the fair value of the Company's financial instruments, is as follows: U.S. Government Obligations U.S. Treasury securities are valued using quoted market prices obtained from active market makers and inter-dealer brokers. U.S. Agency Obligations U.S. agency securities consist of agency issued debt securities and mortgage pass-through securities. Non-callable agency issued debt securities are generally valued using quoted market prices, quoted market prices for comparable securities or discounted cash flow models. Callable agency issued debt securities are valued by benchmarking model-derived prices to quoted market prices and trade data for identical or comparable securities. The fair value of mortgage pass-through securities is model driven with respect to spreads of the comparable to-be-announced ("TBA") security. Sovereign Obligations The fair value of sovereign obligations is determined based on quoted market prices when available or a valuation model that generally utilizes interest rate yield curves and credit spreads as inputs. Corporate Debt and Other Obligations The fair value of corporate bonds is estimated using recent transactions, broker quotations and bond spread information. Mortgage and Other Asset-Backed Securities The Company values non-agency securities collateralized by home equity and various other types of collateral based on external pricing and spread data provided by independent pricing services. When specific external pricing is not observable, the valuation is based on yields and spreads for comparable bonds. Municipal Obligations The fair value of municipal obligations is estimated using recently executed transactions, broker quotations, and bond spread information. Convertible Bonds The fair value of convertible bonds is estimated using recently executed transactions and dollar-neutral price quotations, where observable. When observable price quotations are not available, fair value is determined based on cash flow models using yield curves and bond spreads as key inputs. Corporate Equities Equity securities and options are generally valued based on quoted prices from the exchange or market where traded. To the extent quoted prices are not available, fair values are generally derived using bid/ask spreads. Loans The fair value of loans is estimated using recently executed transactions and current price quotations, which are usually observable. In rare occurrences when observable pricing information is not available, fair value is generally determined based on cash flow models using discounted cash flow models, competitor comparable data and other valuation metrics. Auction Rate Securities ("ARS") As of June 30, 2024, the Company owned $2.7 million of ARS. This represents the amount that the Company holds as a result of ARS buybacks in previous years. The Company has valued the ARS securities owned at the tender offer price and categorized them in Level 3 of the fair value hierarchy due to the illiquid nature of the securities and the period of time since the last tender offer. The fair value of ARS is particularly sensitive to movements in interest rates. However, an increase or decrease in short-term interest rates may or may not result in a higher or lower tender offer price in the future or the tender offer price may not provide a reasonable estimate of the fair value of the securities. In such cases, other valuation techniques might be necessary. As of June 30, 2024, the Company had a valuation allowance totaling $0.2 million relating to ARS owned (which is included as a reduction to securities owned on the condensed consolidated balance sheet). Investments In its role as general partner in certain hedge funds and private equity funds, the Company, through its subsidiaries, holds direct investments in such funds. The Company records these investments within other assets and uses the net asset value of the underlying fund as a basis for estimating the fair value of its investment unless another method provides a better indicator of fair value. Changes in the fair value of these investments are reflected within other income in the consolidated financial statements. The following table provides information about the Company's investments in Company-sponsored funds as of June 30, 2024: (Expressed in thousands) Fair Value Unfunded Redemption Redemption Hedge funds (1) $ 341 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 4,686 1,324 N/A N/A $ 5,027 $ 1,324 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. (2) Includes private equity funds and private equity fund of funds with diversified portfolios focusing on but not limited to technology companies, venture capital and global natural resources. The following table provides information about the Company's investments in Company-sponsored funds as of December 31, 2023: (Expressed in thousands) Fair Value Unfunded Redemption Redemption Hedge funds (1) $ 446 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 5,072 2,367 N/A N/A $ 5,518 $ 2,367 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. (2) Includes private equity funds and private equity fund of funds with diversified portfolios focusing on but not limited to technology companies, venture capital and global natural resources. The Company owns an investment in a financial technologies firm. The Company elected the fair value option for this investment and it is included in other assets on the consolidated balance sheet. The Company determined the fair value of the investment based on an implied market-multiple approach and observable market data, including comparable company transactions. As of June 30, 2024, the fair value of the investment was $7.2 million and was categorized in Level 2 of the fair value hierarchy. Assets and Liabilities Measured at Fair Value The Company's assets and liabilities, recorded at fair value on a recurring basis as of June 30, 2024 and December 31, 2023, have been categorized based upon the above fair value hierarchy as follows: Assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 : (Expressed in thousands) Fair Value Measurements as of June 30, 2024 Level 1 Level 2 Level 3 Total Assets Deposits with clearing organizations $ 34,967 $ — $ — $ 34,967 Securities owned: U.S. Treasury securities 859,623 — — 859,623 U.S. Agency securities — 5,755 — 5,755 Sovereign obligations — 424 — 424 Corporate debt and other obligations — 18,104 — 18,104 Mortgage and other asset-backed securities — 7,117 — 7,117 Municipal obligations — 88,373 — 88,373 Convertible bonds — 25,272 — 25,272 Corporate equities 29,622 — — 29,622 Money markets 5,750 503 — 6,253 Auction rate securities — — 2,713 2,713 Securities owned, at fair value 894,995 145,548 2,713 1,043,256 Investments (1) 1,369 17,287 — 18,656 Loans (1) — 689 — 689 Derivative contracts: TBAs — 29 — 29 Derivative contracts, total — 29 — 29 Total $ 931,331 $ 163,553 $ 2,713 $ 1,097,597 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 138,059 $ — $ — $ 138,059 U.S. Agency securities — 2 — 2 Corporate debt and other obligations — 7,279 — 7,279 Convertible bonds — 13,450 — 13,450 Corporate equities 18,461 — — 18,461 Securities sold but not yet purchased, at fair value 156,520 20,731 — 177,251 Derivative contracts: Futures 1,423 — — 1,423 TBAs — 33 — 33 Derivative contracts, total 1,423 33 — 1,456 Total $ 157,943 $ 20,764 $ — $ 178,707 (1) Included in other assets on the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2023: (Expressed in thousands) Fair Value Measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total Assets Deposits with clearing organizations $ 34,789 $ — $ — $ 34,789 Securities owned: U.S. Treasury securities 695,346 — — 695,346 U.S. Agency securities — 2 — 2 Corporate debt and other obligations — 5,769 — 5,769 Mortgage and other asset-backed securities — 6,627 — 6,627 Municipal obligations — 35,333 — 35,333 Convertible bonds — 16,735 — 16,735 Corporate equities 27,170 — — 27,170 Money markets 5,400 217 — 5,617 Auction rate securities — — 2,713 2,713 Securities owned, at fair value 727,916 64,683 2,713 795,312 Investments (1) 1,872 16,913 — 18,785 Securities purchased under agreements to resell — 5,842 — 5,842 Derivative contracts: Futures 2 — — 2 TBAs — 11 — 11 Derivative contracts, total 2 11 — 13 Total $ 764,579 $ 87,449 $ 2,713 $ 854,741 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 14,603 $ — $ — $ 14,603 Corporate debt and other obligations — 1,508 — 1,508 Mortgage and other asset-backed securities — 2 — 2 Convertible bonds — 2,136 — 2,136 Corporate equities 13,427 — — 13,427 Securities sold but not yet purchased, at fair value 28,030 3,646 — 31,676 Derivative contracts: Futures 735 — — 735 TBAs — 2 — 2 Derivative contracts, total 735 2 — 737 Total $ 28,765 $ 3,648 $ — $ 32,413 (1) Included in other assets on the consolidated balance sheet. The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2024 and 2023: (Expressed in thousands) Level 3 Assets and Liabilities For the Three Months Ended June 30, 2024 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Gain and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 2,713 $ — $ — $ — $ — $ 2,713 (1) Represents auction rate securities that failed in the auction rate market. (Expressed in thousands) Level 3 Assets and Liabilities For the Three Months Ended June 30, 2023 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 31,776 $ 6 $ — $ (100) $ — $ 31,682 (1) Represents auction rate securities that failed in the auction rate market. (Expressed in thousands) Level 3 Assets and Liabilities For the Six Months Ended June 30, 2024 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 2,713 $ — $ — $ — $ — $ 2,713 (1) Represents auction rate securities that failed in the auction rate market. (Expressed in thousands) Level 3 Assets and Liabilities For the Six Months Ended June 30, 2023 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 31,776 $ 6 $ — $ (100) $ — $ 31,682 (1) Represents auction rate securities that failed in the auction rate market. Financial Instruments Not Measured at Fair Value The table below presents the carrying value, fair value and fair value hierarchy category of certain financial instruments that are not measured at fair value on the consolidated balance sheets. The table below excludes non-financial assets and liabilities (e.g., furniture, equipment and leasehold improvements and accrued compensation). The carrying value of financial instruments not measured at fair value categorized in the fair value hierarchy as Level 1 or Level 2 (e.g., cash and receivables from customers) approximates fair value because of the relatively short-term nature of the underlying assets. The fair value of the Company's senior secured notes, categorized in Level 2 of the fair value hierarchy, is based on quoted prices from the market in which the notes trade. Assets and liabilities not measured at fair value as of June 30, 2024: (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 33,214 $ 33,214 $ — $ — $ 33,214 Deposits with clearing organizations 73,448 73,448 — — 73,448 Receivable from brokers, dealers and clearing organizations: Securities borrowed 134,454 — 134,454 — 134,454 Receivables from brokers 57,699 — 57,699 — 57,699 Securities failed to deliver 20,054 — 20,054 — 20,054 Clearing organizations and other 84,828 — 84,828 — 84,828 297,035 — 297,035 — 297,035 Receivable from customers 1,161,685 — 1,161,685 — 1,161,685 Notes receivable, net 63,342 — 63,342 — 63,342 Securities purchased under agreements to resell 4,079 — 4,079 — 4,079 Corporate-owned life 94,646 — 94,646 — 94,646 Investments (1) 1,647 — 1,647 — 1,647 (1) Included within other assets on the consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Drafts payable $ 21,762 $ 21,762 $ — $ — $ 21,762 Bank call loans 218,800 — 218,800 — 218,800 Payables to brokers, dealers and clearing organizations: Securities loaned 247,219 — 247,219 — 247,219 Payable to brokers 1,557 — 1,557 — 1,557 Securities failed to receive 22,961 — 22,961 — 22,961 Clearing organization and other 5,066 — 5,066 — 5,066 276,803 — 276,803 — 276,803 Payables to customers 325,886 — 325,886 — 325,886 Securities sold under agreements to repurchase 822,785 — 822,785 — 822,785 Senior secured notes 113,050 — 111,637 — 111,637 Assets and liabilities not measured at fair value as of December 31, 2023: (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 28,835 $ 28,835 $ — $ — $ 28,835 Deposits with clearing organization 43,917 43,917 — — 43,917 Receivable from brokers, dealers and clearing organizations: Securities borrowed 158,612 — 158,612 — 158,612 Receivables from brokers 65,639 — 65,639 — 65,639 Securities failed to deliver 29,656 — 29,656 — 29,656 Clearing organizations 30,780 — 30,780 — 30,780 284,687 — 284,687 — 284,687 Receivable from customers 1,059,892 — 1,059,892 — 1,059,892 Notes receivable, net 62,640 — 62,640 — 62,640 Corporate-owned life 88,989 — 88,989 — 88,989 Investments (1) 2,010 — 2,010 — 2,010 (1) Included within other assets on the consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Drafts payable $ 9,002 $ 9,002 $ — $ — $ 9,002 Payables to brokers, dealers and clearing organizations: Securities loaned 284,987 — 284,987 — 284,987 Payable to brokers 447 — 447 — 447 Securities failed to receive 23,809 — 23,809 — 23,809 Other 51,912 — 51,912 — 51,912 361,155 — 361,155 — 361,155 Payables to customers 369,287 — 369,287 — 369,287 Securities sold under agreements to repurchase 640,382 — 640,382 — 640,382 Senior secured notes 113,050 — 109,838 — 109,838 Derivative Instruments and Hedging Activities The Company transacts, on a limited basis, in exchange traded and over-the-counter derivatives for both asset and liability management as well as for trading and investment purposes. Risks managed using derivative instruments include interest rate risk and, to a lesser extent, foreign exchange risk. All derivative instruments are measured at fair value and are recognized as either assets or liabilities on the consolidated balance sheet. Foreign exchange hedges From time to time, the Company also utilizes forward and options contracts to hedge the foreign currency risk associated with compensation obligations to Oppenheimer Israel (OPCO) Ltd. employees denominated in New Israeli Shekel ("NIS"). Such hedges have not been designated as accounting hedges. Unrealized gains and losses on foreign exchange forward contracts are recorded in other assets or other liabilities on the consolidated balance sheet and other income in the consolidated income statement. Derivatives used for trading and investment purposes Futures contracts represent commitments to purchase or sell securities or other commodities at a future date and at a specified price. Market risk exists with respect to these instruments. Notional or contractual amounts are used to express the volume of these transactions and do not represent the amounts potentially subject to market risk. The Company uses futures contracts, including U.S. Treasury notes, Federal Funds, General Collateral futures and Eurodollar contracts primarily as an economic hedge of interest rate risk associated with government trading activities. Unrealized gains and losses on futures contracts are recorded on the consolidated balance sheet in payable to brokers, dealers and clearing organizations and in the consolidated income statement as principal transactions revenue, net. To-be-announced securities The Company also transacts in pass-through mortgage-backed securities eligible to be sold in the TBA market as economic hedges against mortgage-backed securities that it owns or has sold but not yet purchased. TBAs provide for the forward or delayed delivery of the underlying instrument with settlement up to 180 days. The contractual or notional amounts related to these financial instruments reflect the volume of activity and do not reflect the amounts at risk. Net unrealized gains and losses on TBAs are recorded on the consolidated balance sheet in receivable from brokers, dealers and clearing organizations or payable to brokers, dealers and clearing organizations and in the consolidated income statement as principal transactions revenue, net. The notional amounts and fair values of the Company's derivatives as of June 30, 2024 and December 31, 2023 by product were as follows: (Expressed in thousands) Fair Value of Derivative Instruments as of June 30, 2024 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 10,215 $ 29 $ 10,215 $ 29 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 9,890,000 $ 1,423 Other contracts TBAs 10,215 33 $ 9,900,215 $ 1,456 (1) See "Derivative Instruments and Hedging Activities" above for a description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset. (Expressed in thousands) Fair Value of Derivative Instruments as of December 31, 2023 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 3,700 $ 11 Commodity contracts Futures 5,000 2 $ 8,700 $ 13 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 6,875,000 $ 735 Other contracts TBAs 3,700 2 $ 6,878,700 $ 737 (1) See "Derivative Instruments and Hedging Activities" above for a description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset. The following table presents the location and fair value amounts of the Company's derivative instruments and their effect in the consolidated income statements for the three and six months ended June 30, 2024 and 2023: (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended June 30, 2024 Recognized in Income on Derivatives Types Description Location Net Gain Commodity contracts Futures Principal transactions revenue, net $ 1,184 Other contracts Foreign exchange forward contracts Other revenue/(Compensation and related expenses) (24) Other contracts TBAs Principal transactions revenue, net 2 $ 1,162 (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended June 30, 2023 Recognized in Income on Derivatives Types Description Location Net Gain Commodity contracts Futures Principal transactions revenue, net $ 3,529 Other contracts Foreign exchange forward contracts Other revenue/(Compensation and related expenses) (7) Other contracts TBAs Principal transactions revenue, net 36 $ 3,558 (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Six Months Ended June 30, 2024 Recognized in Income on Derivatives Types Description Location Net Gain Commodity contracts Futures Principal transactions revenue, net $ 4,436 Other contracts Foreign exchange forward contracts Other revenue/(Compensation and related expenses) $ (24) Other contracts TBAs Principal transactions revenue, net 3 $ 4,415 (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Six Months Ended June 30, 2023 Recognized in Income on Derivatives Types Description Location Net Gain Commodity contracts Futures Principal transactions revenue, net $ 3,739 Other contracts Foreign exchange forward contracts Other revenue/(Compensation and related expenses) $ (8) Other contracts TBAs Principal transactions revenue, net $ 38 $ 3,769

Collateralized transactions

Collateralized transactions	6 Months Ended
	Jun. 30, 2024
Broker-Dealer [Abstract]
Collateralized transactions	Collateralized transactions The Company enters into collateralized borrowing and lending transactions in order to meet customers' needs and earn interest rate spreads, obtain securities for settlement and finance trading inventory positions. Under these transactions, the Company either receives or provides collateral, including U.S. Government and Agency, asset-backed, corporate debt, equity, and non-U.S. Government and Agency securities. The Company obtains short-term borrowings primarily through bank call loans. Bank call loans are generally payable on demand and bear interest at various rates. As of June 30, 2024, the outstanding balance of bank call loans was $218.8 million (zero as of December 31, 2023). As of June 30, 2024, such loans with commercial banks were collateralized by the Company's securities and customer securities with market values of approximately $39.1 million and $208.0 million, respectively. As of June 30, 2024, the Company had approximately $1.6 billion of customer securities under customer margin loans that are available to be pledged, of which the Company has re-pledged approximately $186.2 million under securities loan agreements. As of June 30, 2024, the Company had pledged $22.9 million of customer securities directly with the Options Clearing Corporation to secure obligations and margin requirements under option contracts written by customers. As of June 30, 2024, the Company had no outstanding letters of credit. The Company enters into reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions to, among other things, acquire securities to cover short positions and settle other securities obligations, to accommodate customers' needs and to finance the Company's inventory positions. Except as described below, repurchase and reverse repurchase agreements, principally involving U.S. Government and Agency securities, are carried at amounts at which the securities subsequently will be resold or reacquired as specified in the respective agreements and include accrued interest. Repurchase agreements and reverse repurchase agreements are presented on a net-by-counterparty basis, when the repurchase agreements and reverse repurchase agreements are executed with the same counterparty, have the same explicit settlement date, are executed in accordance with a master netting arrangement, the securities underlying the repurchase agreements and reverse repurchase agreements exist in "book entry" form and certain other requirements are met. The following table presents a disaggregation of the gross obligation by the class of collateral pledged and the remaining contractual maturity of the repurchase agreements and securities loaned transactions as of June 30, 2024: (Expressed in thousands) Overnight and Open Repurchase agreements: U.S. Government $ 846,269 Securities loaned: Equity securities 247,219 Gross amount of recognized liabilities for repurchase agreements and securities loaned $ 1,093,488 The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of June 30, 2024 and December 31, 2023: As of June 30, 2024 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 27,563 $ (23,484) $ 4,079 $ (3,983) $ — $ 96 Securities borrowed (1) 134,454 — 134,454 (132,270) — 2,184 Total $ 162,017 $ (23,484) $ 138,533 $ (136,253) $ — $ 2,280 (1) Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet. (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Repurchase agreements $ 846,269 $ (23,484) $ 822,785 $ (817,169) $ — $ 5,616 Securities loaned (2) 247,219 — 247,219 (238,094) — 9,125 Total $ 1,093,488 $ (23,484) $ 1,070,004 $ (1,055,263) $ — $ 14,741 (2) Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet. As of December 31, 2023 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 8,870 $ (3,028) $ 5,842 $ — $ — $ 5,842 Securities borrowed (1) 158,612 — 158,612 (149,946) — 8,666 Total $ 167,482 $ (3,028) $ 164,454 $ (149,946) $ — $ 14,508 (1) Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet. (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Repurchase agreements $ 643,410 $ (3,028) $ 640,382 $ (632,521) $ — $ 7,861 Securities loaned (2) 284,987 — 284,987 (276,688) — 8,299 Total $ 928,397 $ (3,028) $ 925,369 $ (909,209) $ — $ 16,160 (2) Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet. The Company receives collateral in connection with securities borrowed and reverse repurchase agreement transactions and customer margin loans. Under many agreements, the Company is permitted to sell or re-pledge the securities received (e.g., use the securities to enter into securities lending transactions, or deliver to counterparties to cover short positions). As of June 30, 2024, the fair value of securities received as collateral under securities borrowed transactions and reverse repurchase agreements was $130.3 million ($151.9 million as of December 31, 2023) and $27.5 million ($8.8 million as of December 31, 2023), respectively, of which the Company has sold and re-pledged approximately $50.0 million ($61.5 million as of December 31, 2023) under securities loaned transactions and $27.5 million under repurchase agreements ($8.8 million as of December 31, 2023). The Company pledges certain of its securities owned for securities lending and repurchase agreements and to collateralize bank call loan transactions. The carrying value of pledged securities owned that can be sold or re-pledged by the counterparty was $867.3 million, as presented on the face of the consolidated balance sheet as of June 30, 2024 ($689.4 million as of December 31, 2023). The Company manages credit exposure arising from repurchase and reverse repurchase agreements by, in appropriate circumstances, entering into master netting agreements and collateral arrangements with counterparties that provide the Company, in the event of a customer default, the right to liquidate securities and the right to offset a counterparty's rights and obligations. The Company manages market risk of repurchase agreements and securities loaned by monitoring the market value of collateral held and the market value of securities receivable from others. It is the Company's policy to request and obtain additional collateral when exposure to loss exists. In the event the counterparty is unable to meet its contractual obligation to return the securities, the Company may be exposed to off-balance sheet risk of acquiring securities at prevailing market prices. Credit Concentrations Credit concentrations may arise from trading, investing, underwriting and financing activities and may be impacted by changes in economic, industry or political factors. In the normal course of business, the Company may be exposed to credit risk in the event customers, counterparties including other brokers and dealers, issuers, banks, depositories or clearing organizations are unable to fulfill their contractual obligations. The Company seeks to mitigate these risks by actively monitoring exposures and obtaining collateral as deemed appropriate. Included in receivable from brokers, dealers and clearing organizations as of June 30, 2024 were receivables from two major U.S. broker-dealers totaling approximately $81.2 million. Included in receivable from customers as of June 30, 2024 were fully secured margin loans from our two largest customer accounts totaling approximately $543.8 million. The Company is obligated to settle transactions with brokers and other financial institutions even if its clients fail to meet their obligations to the Company. Clients are required to complete their transactions on the settlement date, generally one . In addition, the Company clears its non-U.S. international equities business carried on by Oppenheimer Europe Ltd. through Global Prime Partners, Ltd, a global clearing financial institution located in the United Kingdom. The clearing organizations have the right to charge the Company for losses that result from a client's failure to fulfill its contractual obligations. Accordingly, the Company has credit exposures with these clearing brokers. The clearing brokers can re-hypothecate the securities held on behalf of the Company. As the right to charge the Company has no maximum amount and applies to all trades executed through the clearing brokers, the Company believes there is no maximum amount assignable to this right. As of June 30, 2024, the Company had recorded no liabilities with regard to this right. The Company's policy is to monitor the credit standing of the clearing brokers and banks with which it conducts business.

Variable interest entities ("VI

Variable interest entities ("VIEs")	6 Months Ended
	Jun. 30, 2024
Variable Interest Entity [Abstract]
Variable interest entities ("VIEs")	Variable interest entities ("VIEs") The Company's policy is to consolidate all subsidiaries in which it has a controlling financial interest, as well as any VIEs where the Company is deemed to be the primary beneficiary, when it has the power to make the decisions that most significantly affect the economic performance of the VIE and has the obligation to absorb significant losses or the right to receive benefits that could potentially be significant to the VIE. The Company serves as general partner of hedge funds and private equity funds that were established for the purpose of providing alternative investments to both its institutional and qualified retail clients. The Company's investment in and additional capital commitments to these hedge funds and private equity funds are considered variable interests. The Company's additional capital commitments are subject to call at a later date and are limited to the amount committed. The Company assesses whether it is the primary beneficiary of the hedge funds and private equity funds in which it holds a variable interest in the form of general and limited partner interests. In each instance, the Company has determined that it is not the primary beneficiary and therefore need not consolidate the hedge funds or private equity funds. The subsidiaries' general and limited partnership interests and additional capital commitments represent its maximum exposure to loss. The subsidiaries' general partnership and limited partnership interests is included in other assets on the condensed consolidated balance sheet. In addition, the Company previously served as general partner of Oppenheimer Acquisition LLC I and Oppenheimer Acquisition LLC II (the "Sponsors"). They were sponsors of two special purpose acquisition companies, OHAA and Oppenheimer Acquisition Corp. II (the "SPACs”). Both the Sponsors and the SPACs have been liquidated. See note 2 for further details. The following table sets forth the total assets and liabilities of VIEs consolidated on our condensed consolidated balance sheet: (Expressed in thousands) As of June 30, 2024 2023 Asset Cash and cash equivalents $ — $ 5,487 Restricted Cash — 25,803 Other Assets — 2,297 Total Assets $ — $ 33,587 Liabilities Other Liabilities — 821 Total Liabilities $ — $ 821

Long-term debt

Long-term debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-term debt	Long-term debt (Expressed in thousands) Issued Maturity Date June 30, 2024 December 31, 2023 5.50% Senior Secured Notes 10/1/2025 $ 113,050 $ 113,050 Unamortized Debt Issuance Cost (283) (392) $ 112,767 $ 112,658 5.50% Senior Secured Notes due 2025 On September 22, 2020, in a private offering, the Company issued $125.0 million aggregate principal amount of 5.50% Senior Secured Notes due 2025 (the "Unregistered Notes") under an indenture at an issue price of 100% of the principal amount. Interest on the Unregistered Notes is payable semi-annually on April 1st and October 1st. The Company used the net proceeds from the offering of the Unregistered Notes, along with cash on hand, to redeem in full our 6.75% Senior Secured Notes due July 1, 2022 (the "Old Notes") in the principal amount of $150.0 million (the Company held $1.4 million in treasury for a net outstanding amount of $148.6 million), and pay all related fees and expenses in relation thereto. On November 23, 2020, we completed an exchange offer in which we exchanged 99.8% of the Unregistered Notes for a like principal amount of notes (the "Notes")with identical terms, except that such new Notes have been registered under the Securities Act of 1933, as amended (the "Securities Act"). We did not receive any proceeds in the exchange offer. The Notes will mature on October 1, 2025 and bear interest at a rate of 5.50% per annum, payable semiannually on April 1st and October 1st, respectively, of each year. The cost to issue the Notes was $3.1 million, of which $1.9 million was paid to its subsidiary, (Oppenheimer & Co Inc., who served as the initial purchaser of the offering), and was eliminated in consolidation. The remaining $1.2 million was capitalized and is amortized over the term of the Notes. The Company has repurchased and may continue to seek to repurchase its Notes from time to time through, as applicable, tender offers, open market purchases, privately negotiated transactions or otherwise. Such repurchases, if any, will depend on a number of factors, including, but not limited to, the Company’s priorities for the use of cash, price, market and economic conditions, its liquidity requirements, and legal and contractual restrictions. During the first quarter of 2023, the Company repurchased and cancelled $1.0 million aggregate principal amount of its Notes in the open market. As of June 30, 2024, $113.05 million aggregate principal amount of the Notes remain outstanding. The Company may redeem the Notes, in whole or in part, at their par amount plus accrued and unpaid interest on or after October 1, 2024. The indenture governing the Notes (the "Indenture") contains covenants which place restrictions on the incurrence of indebtedness, the payment of dividends, the repurchase of equity, the sale of assets, the issuance of guarantees, mergers and acquisitions and the granting of liens. These covenants are subject to a number of important exceptions and qualifications. These exceptions and qualifications include, among other things, a variety of provisions that are intended to allow the Company to continue to conduct its brokerage operations in the ordinary course of business. In addition, certain of the covenants will be suspended upon the Parent attaining an investment grade debt rating for the Notes from both S&P Global Ratings and Moody’s Investors Service, Inc. Pursuant to the Indenture, the following covenants apply to the Parent and its restricted subsidiaries, but generally do not apply, or apply only in part, to its Regulated Subsidiaries (as defined): • limitation on indebtedness and issuances of preferred stock, which restricts the Parent’s ability to incur additional indebtedness or to issue preferred stock; • limitation on restricted payments, which generally restricts the Parent’s ability to declare certain dividends or distributions, repurchase its capital stock or to make certain investments; • limitation on dividends and other payment restrictions affecting restricted subsidiaries or Regulated Subsidiaries, which generally limits the ability of certain of the Parent’s subsidiaries to pay dividends or make other transfers; • limitation on future Subsidiary Guarantors (as hereinafter defined), which prohibits certain of the Parent’s subsidiaries from guaranteeing its indebtedness or indebtedness of any restricted subsidiary unless the Notes are comparably guaranteed; • limitation on transactions with shareholders and affiliates, which generally requires transactions among the Parent’s affiliated entities to be conducted on an arm’s-length basis; • limitation on liens, which generally prohibits the Parent and its restricted subsidiaries from granting liens unless the Notes are comparably secured; and • limitation on asset sales, which generally prohibits the Parent and certain of its subsidiaries from selling assets or certain securities or property of significant subsidiaries. The Indenture also provides for events of default which, if any of them occurs, would permit or require the principal of and accrued interest on the Notes to become or to be declared due and payable. As of June 30, 2024, the Parent was in compliance with all of its covenants. The Notes are jointly and severally and fully and unconditionally guaranteed on a senior secured basis by the Subsidiary Guarantors and future subsidiaries are required to guarantee the Notes pursuant to the Indenture. The Notes are secured by a first-priority security interest in substantially all of the Parent’s and the Subsidiary Guarantors’ existing and future tangible and intangible assets, subject to certain exceptions and permitted liens. Interest expense on the Notes for the three and six months ended June 30, 2024 was $1.6 million and $3.1 million, respectively. Interest expense on the Notes for the three and six months ended June 30, 2023 was $1.6 million and $3.1 million, respectively.

Income taxes

Income taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income taxes	Income taxes The effective income tax rate for the three and six months ended June 30, 2024 was 35.3% and 32.5% respectively, compared with 18.2% and 33.4% for the three and six months ended June 30, 2023 and reflects the Company's annual estimate of the statutory federal and state tax rates adjusted for certain discrete items. The effective tax rate for the second quarter of 2024 was impacted by permanent items and non-deductible losses in non-U.S. businesses.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders' Equity	Stockholders' Equity The Company's authorized shares consist of (a) 50,000,000 shares of Preferred Stock, par value $0.001 per share; (b) 50,000,000 shares of Class A Stock, par value $0.001 per share; and (c) 99,665 shares of Class B Stock, par value $0.001 per share. No Preferred Stock has been issued. 99,665 shares of Class B Stock have been issued and are outstanding. The Class A Stock and the Class B Stock are equal in all respects except that the Class A Stock is non-voting. The following table reflects changes in the number of shares of Class A Stock outstanding for the periods indicated: For the Three Months Ended For the Six Months Ended 2024 2023 2024 2023 Class A Stock outstanding, beginning of period 10,247,197 10,975,723 10,186,783 10,868,556 Issued pursuant to share-based compensation plans 3,750 4,987 278,887 207,209 Repurchased and cancelled (23,102) (96,135) (237,825) (191,190) Class A Stock outstanding, end of period 10,227,845 10,884,575 10,227,845 10,884,575 Stock buy-back On May 31, 2023, the Company announced the commencement of a modified “Dutch Auction” tender offer to purchase up to $30.0 million of its Class A Stock at a price not less than $34.00 per share or more than $40.00 per share. The Company completed its repurchases pursuant to the tender offer on July 6, 2023, when it successfully repurchased and cancelled 437,183 shares of Class A Stock at $40.00 per share for an aggregate purchase price of $17.49 million. As a result, the Company had 10,447,392 shares outstanding on July 6, 2023 after the purchase. During the year ended December 31, 2023, the Company purchased and canceled an aggregate of 463,335 shares of Class A Stock for a total consideration of $17.6 million ($38.07 per share) under its share repurchase program. As of December 31, 2023, 223,699 shares remained available to be purchased under its share repurchase program. On March 1, 2024, the Company's Board of Directors approved a share repurchase program that authorizes the Company to purchase up to 518,000 shares of the Company's Class A Stock, representing approximately 5.0% of its 10,357,376 then issued and outstanding shares of Class A Stock. This authorization supplemented the 120,155 shares that remained authorized and available under the Company's previous share repurchase program for a total of 638,155 shares authorized. During the three months ended June 30, 2024, the Company purchased and canceled an aggregate of 23,102 shares of Class A Stock for a total consideration of $924,364 ($40.01 per share) under its share repurchase program. During the six months ended June 30, 2024, the Company purchased and canceled an aggregate of 237,825 shares of Class A Stock for a total consideration of $9.3 million ($39.14 per share) under its share repurchase program. During the three months ended June 30, 2023, the Company purchased and canceled an aggregate of 96,135 shares of Class A Stock for a total consideration of $3.6 million ($37.43 per share) under this program. During the six months ended June 30, 2023, the Company purchased and canceled an aggregate of 191,190 shares of Class A Stock for a total consideration of $7.3 million ($38.11 per share) under this program. As of June 30, 2024, 503,874 shares remained available to be purchased under the share repurchase program.

Contingencies

Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies	Contingencies Many aspects of the Company's business involve substantial risks of liability. In the normal course of business, the Company has been named as defendant or co-defendant in various legal actions, including arbitrations, class actions and other litigation, creating substantial exposure and periodic expenses. Certain of the actual or threatened legal matters include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. These proceedings arise primarily from securities brokerage, asset management and investment banking activities. The Company is also involved, from time to time, in other reviews, investigations and proceedings (both formal and informal) by governmental and self-regulatory agencies regarding the Company's business, which may result in expenses, adverse judgments, settlements, fines, penalties, injunctions or other relief. The investigations include inquiries from the SEC, the Financial Industry Regulatory Authority ("FINRA") and other regulators. The Company accrues for estimated loss contingencies related to legal and regulatory matters within Other Expenses in the consolidated income statement when available information indicates that it is probable a liability had been incurred and the Company can reasonably estimate the amount of that loss. In many proceedings, however, it is inherently difficult to determine whether any loss is probable or even possible or to estimate the amount of any loss. In addition, even where a loss is possible or an exposure to loss exists in excess of the liability already accrued with respect to a previously recognized loss contingency, it is often not possible to reasonably estimate the size of the possible loss or range of loss or possible additional losses or range of additional losses. For certain legal and regulatory proceedings, the Company cannot reasonably estimate such losses, particularly for proceedings that are in their early stages of development or where plaintiffs seek substantial, indeterminate or special damages. Counsel may be required to review, analyze and resolve numerous issues, including through potentially lengthy discovery and determination of important factual matters, and by addressing novel or unsettled legal questions relevant to the proceedings in question, before the Company can reasonably estimate a loss or range of loss or additional loss for the proceeding. Even after lengthy review and analysis, the Company, in many legal and regulatory proceedings, may not be able to reasonably estimate possible losses or range of losses. For certain other legal and regulatory proceedings, the Company can estimate possible losses, or range of loss in excess of amounts accrued, but does not believe, based on current knowledge and after consultation with counsel, that such losses individually, or in the aggregate, will have a material adverse effect on the Company's consolidated financial statements as a whole. For legal and regulatory proceedings where there is at least a reasonable possibility that a loss or an additional loss may be incurred, the Company estimates a range of aggregate loss in excess of amounts accrued of up to $4 million. This estimated aggregate range is based upon currently available information for those legal proceedings in which the Company is involved, where the Company can make an estimate for such losses. For certain cases, the Company does not believe that it can make an estimate. The foregoing aggregate estimate is based on various factors, including the varying stages of the proceedings (including the fact that some are currently in preliminary stages), the numerous yet-unresolved issues in many of the proceedings and the attendant uncertainty of the various potential outcomes of such proceedings. Accordingly, the Company's estimate will change from time to time, and actual losses may be more than the current estimate. Beginning on or about August 31, 2021, Oppenheimer was named as a respondent in fifty-one arbitrations, many containing multiple claimants, each filed before FINRA, relating to those claimants’ purported investment in Horizon Private Equity, III, LLC (“Horizon”). Horizon is alleged to be a fraudulent scheme involving, among others, a former Oppenheimer employee John Woods. Oppenheimer has settled, or settled in principle or an award has been rendered in forty-nine of the Horizon-related arbitrations. The two arbitrations still pending claim specific monetary damages and allege losses of approximately $3.8 million in the aggregate. On June 16, 2023, Oppenheimer was served with a complaint in an action entitled John and Cynthia Kearney, John & Tera Sargent, Mike Hall et al v. Oppenheimer & Co. Inc., et al, filed in Georgia State Court, Fulton County. Plaintiffs allege that Oppenheimer, through its inaction and/or misconduct, is responsible for their alleged losses and are seeking unspecified damages alleging in violations of the Georgia RICO statute and negligence per se. Oppenheimer filed a motion to dismiss the complaint. On April 17, 2024 the court issued an order granting plaintiffs John and Tera Sargent’s voluntary dismissal of their claims without prejudice. On April 22, 2024, the court granted Oppenheimer’s motion to dismiss and terminated the case. On April 26, 2024, plaintiffs filed a notice of appeal of the court’s order dismissing the case. Additionally, on August 25, 2023, Oppenheimer was served with a complaint in an action entitled Lisa Wright, Billy Ray Boaz, et al v. Oppenheimer & Co. Inc., et al , filed in Georgia State Court, Fulton County. Plaintiffs allege that Oppenheimer, through its inaction and/or misconduct, is responsible for their alleged losses and are seeking unspecified damages alleging in violations of the Georgia RICO statute and negligence per se. On October 31, 2023, Oppenheimer filed a motion to dismiss the complaint. On April 22, 2024 the court granted Oppenheimer’s motion to dismiss and terminated the case. On April 26, 2024, plaintiffs filed a notice of appeal of the court’s order dismissing the case. On June 30, 2022, the Oppenheimer received a "Wells Notice" from the SEC requesting that Oppenheimer make a written submission to the SEC to explain why Oppenheimer should not be charged with violations of Section 15c2-12 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 15c2-12 thereunder as well as Municipal Securities Rulemaking Board Rules G-17 and G-27 in relation to its sales of municipal notes pursuant to an exemption from continuing disclosure contained in Rule 15c2-12. On September 13, 2022, the SEC filed a complaint against Oppenheimer in the United States District Court for the Southern District of New York (the “Court") alleging that Oppenheimer violated Section 15B(c)(1) of the Exchange Act and Rule 15c2-12 thereunder as well as Municipal Securities Rulemaking Board Rules. The SEC asked the Court to enter an order enjoining Oppenheimer from violating the above-referenced rules and requiring disgorgement and payment of a civil penalty. On January 30, 2024, Oppenheimer and the SEC reached an agreement in principle to settle the litigation pursuant to which Oppenheimer would pay a civil penalty of $1.2 million. The settlement is subject to Oppenheimer obtaining a waiver of certain statutory disqualifications.

Regulatory requirements

Regulatory requirements	6 Months Ended
	Jun. 30, 2024
Regulated Operations [Abstract]
Regulatory requirements	Regulatory requirements The Company's U.S. broker dealer subsidiaries, Oppenheimer and Freedom are subject to the uniform net capital requirements of the SEC under Rule 15c3-1 (the "Rule") promulgated under the Exchange Act. Oppenheimer computes its net capital requirements under the alternative method provided for in the Rule which requires that Oppenheimer maintain net capital equal to two percent of aggregate customer-related debit items, as defined in SEC Rule 15c3-3. As of June 30, 2024, the net capital of Oppenheimer as calculated under the Rule was $460.7 million or 43.90% of Oppenheimer's aggregate debit items. This was $439.7 million in excess of the minimum required net capital at that date. Freedom computes its net capital requirement under the basic method provided for in the Rule, which requires that Freedom maintain net capital equal to the greater of $100,000 or 6-2/3% of aggregate indebtedness, as defined. As of June 30, 2024, Freedom had net capital of $3.9 million, which was $3.8 million in excess of the $100,000 required to be maintained at that date. As of June 30, 2024, the capital required and held under the Financial Conduct Authority's Investment Firms’ Prudential Regime (“IFPR”) for Oppenheimer Europe Ltd. was as follows: • Common Equity Tier 1 ratio 127% (required 56.0%); • Tier 1 Capital ratio 127% (required 75.0%); and • Total Capital ratio 171% (required 100.0%). As of June 30, 2024, Oppenheimer Europe Ltd. was in compliance with its regulatory requirements. As of June 30, 2024, the regulatory capital of Oppenheimer Investments Asia Limited was $3.6 million, which was $3.2 million in excess of the $384,170 required to be maintained on that date. Oppenheimer Investments Asia Limited computes its regulatory capital pursuant to the requirements of the Securities and Futures Commission of Hong Kong. As of June 30, 2024, Oppenheimer Investment Asia Limited was in compliance with its regulatory requirements.

Segment information

Segment information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment information	Segment information The Company has determined its reportable segments based on the Company's method of internal reporting, which disaggregates its retail business by branch and its proprietary and investment banking businesses by product. The Company evaluates the performance of its segments and allocates resources to them based upon profitability. The Company's reportable segments are: Private Client — includes commissions and a proportionate amount of fee income earned on assets under management ("AUM"), net interest earnings on client margin loans and cash balances, fees from money market funds, custodian fees, net contributions from stock loan activities and financing activities, and direct expenses associated with this segment; Asset Management — includes a proportionate amount of fee income earned on AUM from investment management services of Oppenheimer Asset Management Inc. Oppenheimer's asset management divisions employ various programs to manage client assets either in individual accounts or in funds, and includes direct expenses associated with this segment; and Capital Markets — includes investment banking, institutional equities sales, trading, and research, taxable fixed income sales, trading, and research, public finance and municipal trading, as well as the Company's operations in the United Kingdom, Hong Kong and Israel, and direct expenses associated with this segment. The Company does not allocate costs associated with certain infrastructure support groups that are centrally managed for its reportable segments. These areas include, but are not limited to, legal, compliance, operations, accounting, and internal audit. Costs associated with these groups are separately reported in a Corporate/Other category and primarily include compensation and benefits. The Company also includes activities associated with BondWave, LLC, a cloud-based financial markets software service provider in Corporate/Other. The table below presents information about the reported revenue and pre-tax income (loss) of the Company for the three months ended June 30, 2024 and 2023. Asset information by reportable segment is not reported since the Company does not produce such information for internal use by the chief operating decision maker. (Expressed in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Revenue Private client (1) $ 208,701 $ 201,245 $ 421,734 $ 404,666 Asset management (1) 25,825 22,198 50,753 46,157 Capital markets 92,141 79,582 204,224 169,864 Corporate/Other 3,922 3,164 7,016 7,181 Total $ 330,589 $ 306,189 $ 683,727 $ 627,868 Pre-Tax Income (Loss) Private client (1) $ 55,537 $ 20,794 $ 123,688 $ 75,250 Asset management (1) 8,694 6,533 16,328 13,014 Capital markets (21,775) (14,051) (28,477) (29,528) Corporate/Other (26,591) (24,975) (58,219) (51,386) Total $ 15,865 $ (11,699) $ 53,320 $ 7,350 (1) Clients investing in the OAM advisory program are charged fees based on the value of AUM. Advisory fees are allocated 10.0% to the Asset Management and 90.0% to the Private Client segments. Revenue, classified by the major geographic areas in which it was earned, for the three months ended June 30, 2024 and 2023 was: (Expressed in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Americas $ 316,467 $ 295,496 $ 657,884 $ 605,285 Europe/Middle East 13,394 10,108 24,168 20,968 Asia 728 585 1,675 1,615 Total $ 330,589 $ 306,189 $ 683,727 $ 627,868

Subsequent events

Subsequent events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent events	Subsequent events On July 26, 2024, the Company announced a quarterly dividend in the amount of $0.18 per share, payable on August 23, 2024 to holders of Class A Stock and Class B Stock of record on August 9, 2024.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income attributable to Oppenheimer Holdings Inc.	$ 10,266	$ (9,400)	$ 36,320	$ 5,217

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of significant accoun_2

Summary of significant accounting policies and estimates (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements of the Company have been prepared pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the "SEC") regarding interim financial reporting. Accordingly, they do not include all of the information and notes required by accounting principles generally accepted in the United States of America ("U.S. GAAP") and should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "Form 10-K"). The accompanying condensed consolidated balance sheet data was derived from the same sources as the audited consolidated financial statements but does not include all disclosures required by U.S. GAAP for annual financial statement purposes. The accompanying condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the financial position, results of operations and cash flows for the interim periods presented. Certain reclassifications have been made to prior periods to place them on a basis comparable with current period presentation. Preparing financial statements requires management to make estimates and assumptions that affect the amounts that are reported in the financial statements and the accompanying disclosures. Although these estimates are based on management's knowledge of current events and actions that the Company may undertake in the future, actual results may differ materially from the estimates. The condensed consolidated results of operations for the three and six months ended June 30, 2024 are not necessarily indicative of the results to be expected for any future interim or annual period. Oppenheimer Acquisition Corp. I On October 26, 2021, OPY Acquisition Corp. I (“OHAA”), a special purpose acquisition company, consummated its $126.5 million initial public offering (the “OHAA IPO”). OPY Acquisition LLC I (the “Sponsor”), a Delaware series limited liability company and the Company’s subsidiary was the sponsor of and consolidated OHAA. Upon IPO completion, funds totaling $127.8 million, including proceeds from the OHAA IPO of $126.5 million and $1.3 million investment from the Sponsor, were held in a trust account until the earlier of (i) the completion of a Business Combination or (ii) ten On October 26, 2023, OHAA’s stockholders approved an amendment to its certificate of incorporation to extend the deadline by which it must complete its initial business combination from October 30, 2023 to June 30, 2024 on a month-to-month basis. In the fourth quarter of 2023, a fter careful consideration of the special purpose acquisition company market and after having completed an extensive search, OHAA determined it would be unable to deliver and fund a high quality value enhancing transaction to stockholders despite the extension. Therefore, on December 18, 2023, OHAA determined not to further extend the term it has to complete an initial business combination and instead announced its intention to dissolve and liquidate. On December 28, 2023, all OHAA Class A ordinary shares were cancelled with shareholders receiving their respective share redemption amounts. Accordingly, there were no “Redeemable non-controlling interests” or restricted cash balances associated with the publicly held OHAA Class A ordinary shares recorded on the Company’s consolidated balance sheet as of December 31, 2023. OHAA was dissolved in March 2024. Oppenheimer Principal Investments LLC

Financial Instruments - Credi_2

Financial Instruments - Credit Losses (Tables)	6 Months Ended
	Jun. 30, 2024
Credit Loss [Abstract]
Schedule of Disaggregation of Defaulted Notes by Year of Default	The following table presents the disaggregation of defaulted notes by year of default as of June 30, 2024: (Expressed in thousands) As of June 30, 2024 2024 $ 251 2023 2,157 2022 141 2021 1,644 2020 423 2019 and prior 1,985 Total $ 6,601
Schedule of Activity in Allowance for Uncollectibles of Defaulted Notes	The following table presents activity in the allowance for uncollectibles of defaulted notes for the three and six months ended June 30, 2024 and 2023: (Expressed in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Beginning balance $ 4,091 $ 4,051 $ 3,869 $ 4,327 Additions and other adjustments (238) (237) (16) (513) Ending balance $ 3,853 $ 3,814 $ 3,853 $ 3,814

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Weighted Average Lease Term and Weighted Average Discount Rate and Operating Lease Costs	The following table presents the weighted average lease term and weighted average discount rate for the Company's operating leases as of June 30, 2024 and December 31, 2023, respectively: As of June 30, 2024 December 31, 2023 Weighted average remaining lease term (in years) 6.05 6.35 Weighted average discount rate 7.75% 7.72% The following table presents operating lease costs recognized for the three and six months ended June 30, 2024 and June 30, 2023, respectively, which are included in occupancy and equipment costs on the condensed consolidated income statements: (Expressed in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Operating lease costs: Real estate leases - Right-of-use lease asset amortization $ 6,031 $ 6,686 $ 12,077 $ 13,125 Real estate leases - Interest expense 3,228 3,398 6,551 6,607 Equipment leases - Right-of-use lease asset amortization 432 431 863 853 Equipment leases - Interest expense 44 47 90 93
Schedule of Maturities of Lease Liabilities	The maturities of lease liabilities as of June 30, 2024 and December 31, 2023 are as follows: (Expressed in thousands) As of June 30, 2024 December 31, 2023 2024 $ 22,059 $ 43,885 2025 40,203 38,759 2026 38,015 36,757 2027 35,641 34,823 2028 22,388 21,660 After 2028 59,577 58,081 Total lease payments $ 217,883 $ 233,965 Less interest (45,279) (50,692) Present value of lease liabilities $ 172,604 $ 183,273

Revenue from contracts with c_2

Revenue from contracts with customers (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following presents the Company's revenue from contracts with customers disaggregated by major business activity and other sources of revenue for the three and six months ended June 30, 2024 and 2023: (Expressed in thousands) For the Three Months Ended June 30, 2024 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 44,766 $ — $ 44,174 $ 3 $ 88,943 Mutual fund and insurance income 8,106 — 1 5 8,112 Advisory fees 90,947 26,241 — 9 117,197 Investment banking - capital markets 2,807 — 14,022 (1) 16,828 Investment banking - advisory — — 12,291 — 12,291 Bank deposit sweep income 34,847 — — (1) 34,846 Other 3,168 (1) 580 1,942 5,689 Total revenue from contracts with customers 184,641 26,240 71,068 1,957 283,906 Other sources of revenue: Interest 21,626 — 11,410 1,769 34,805 Principal transactions, net 376 — 9,566 132 10,074 Other 2,058 (415) 97 64 1,804 Total other sources of revenue 24,060 (415) 21,073 1,965 46,683 Total revenue $ 208,701 $ 25,825 $ 92,141 $ 3,922 $ 330,589 (Expressed in thousands) For the Three Months Ended June 30, 2023 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 37,666 $ — $ 43,154 $ 8 $ 80,828 Mutual fund and insurance income 7,711 — 1 4 7,716 Advisory fees 78,811 22,196 — 8 101,015 Investment banking - capital markets 1,688 — 7,345 — 9,033 Investment banking - advisory — — 10,945 — 10,945 Bank deposit sweep income 44,060 — — — 44,060 Other 3,284 — 594 21 3,899 Total revenue from contracts with customers 173,220 22,196 62,039 41 257,496 Other sources of revenue: Interest 22,403 — 4,109 808 27,320 Principal transactions, net 1,072 — 13,410 1,771 16,253 Other 4,550 2 24 544 5,120 Total other sources of revenue 28,025 2 17,543 3,123 48,693 Total revenue $ 201,245 $ 22,198 $ 79,582 $ 3,164 $ 306,189 (Expressed in thousands) For the Six Months Ended June 30, 2024 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 89,696 $ — $ 87,219 $ 8 $ 176,923 Mutual fund and insurance income 15,970 — 2 10 15,982 Advisory fees 179,823 52,201 — 20 232,044 Investment banking - capital markets 5,828 — 29,649 (1) 35,476 Investment banking - advisory 21 — 44,159 — 44,180 Bank deposit sweep income 71,532 — — (1) 71,531 Other 6,584 (1) 900 2,922 10,405 Total revenue from contracts with customers 369,454 52,200 161,929 2,958 586,541 Other sources of revenue: Interest 41,822 — 15,713 4,036 61,571 Principal transactions, net 2,112 — 26,299 (103) 28,308 Other 8,346 (1,447) 283 125 7,307 Total other sources of revenue 52,280 (1,447) 42,295 4,058 97,186 Total revenue $ 421,734 $ 50,753 $ 204,224 $ 7,016 $ 683,727 (Expressed in thousands) For the Six Months Ended June 30, 2023 Reportable Segments Private Client Asset Management Capital Markets Corporate/Other Total Revenue from contracts with customers: Commissions from sales and trading $ 76,590 $ — $ 83,201 $ 14 $ 159,805 Mutual fund and insurance income 15,423 — 5 8 15,436 Advisory fees 155,394 46,150 — 15 201,559 Investment banking - capital markets 3,475 — 15,586 — 19,061 Investment banking - advisory — — 38,882 — 38,882 Bank deposit sweep income 92,969 — — — 92,969 Other 7,277 — 1,100 118 8,495 Total revenue from contracts with customers 351,128 46,150 138,774 155 536,207 Other sources of revenue: Interest 42,982 — 7,138 2,141 52,261 Principal transactions, net 2,121 — 23,814 3,808 29,743 Other 8,435 7 138 1,077 9,657 Total other sources of revenue 53,538 7 31,090 7,026 91,661 Total revenue $ 404,666 $ 46,157 $ 169,864 $ 7,181 $ 627,868
Schedule of Receivables and Deferred Revenue Balances from Contracts with Customers	The following presents the Company's receivables and deferred revenue balances from contracts with customers, which are included in other assets and other liabilities, respectively, on the consolidated balance sheet: (Expressed in thousands) As of June 30, 2024 December 31, 2023 Receivables Commission (1) $ 4,286 $ 4,554 Mutual fund income (2) 5,663 5,365 Advisory fees (3) 3,437 5,746 Bank deposit sweep income (4) 4,868 5,223 Investment banking fees (5) 11,856 12,847 Other 7,159 6,126 Total receivables $ 37,269 $ 39,861 Deferred revenue (payables): Investment Banking fees (6) $ 810 $ 1,118 Software license fees (7) 456 — IRA fees (8) 1,220 — $ 2,486 $ 1,118 (1) Commission recorded on trade date but not yet settled. (2) Mutual fund income earned but not yet received. (3) Management and performance fees earned but not yet received. (4) Fees earned from FDIC-insured bank deposit program but not yet received. (5) Underwriting revenue and advisory fees earned but not yet received.. (6) Retainer fees and fees received from certain advisory transactions where the performance obligations have not yet been satisfied. (7) Software license fees received upfront from customers and recognized ratably over the contract period (8) Fee received in advance on an annual basis.

Earnings per share (Tables)

Earnings per share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	Earnings per share have been calculated as follows: (Expressed in thousands, except number of shares and per share amounts) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Basic weighted average number of shares outstanding 10,327,818 11,016,430 10,367,636 11,054,306 Net dilutive effect of share-based awards, treasury stock method (1) 784,085 — 715,786 857,073 Diluted weighted average number of shares outstanding 11,111,903 11,016,430 11,083,422 11,911,379 Net income attributable to Oppenheimer Holdings Inc. $ 10,266 $ (9,400) $ 36,320 $ 5,217 Earnings per share attributable to Oppenheimer Holdings Inc. Basic $ 0.99 $ (0.85) $ 3.49 $ 0.47 Diluted $ 0.92 $ (0.85) $ 3.29 $ 0.44 (1) For the three months ended June 30, 2024 , there were no shares of Class A Stock with an anti-dilutive effect granted under share-based compensation arrangements. For the six months ended June 30, 2024, the diluted net income per share computation did not include the anti-dilutive effect of 1,000 shares of Class A Stock granted under share-based compensation arrangements. For the three months ended June 30, 2023, the diluted net income per share computation did not include the anti-dilutive effect of 1,138,992 shares of Class A Stock granted under share-based compensation arrangements. For the six months ended June 30, 2023, the diluted net income per share computation did not include the anti-dilutive effect of 281,810 shares of Class A Stock granted under share-based compensation arrangements.

Receivable from and payable t_2

Receivable from and payable to brokers, dealers and clearing organizations (Tables)	6 Months Ended
	Jun. 30, 2024
Broker-Dealer [Abstract]
Schedule of Receivable from and Payable to Brokers, Dealers and Clearing Organizations	(Expressed in thousands) As of June 30, 2024 December 31, 2023 Receivable from brokers, dealers and clearing organizations consisting of: Securities borrowed $ 134,454 $ 158,612 Receivable from brokers 57,699 65,639 Clearing organizations and other (1) 84,824 30,789 Securities failed to deliver 20,054 29,656 Total $ 297,031 $ 284,696 Payable to brokers, dealers and clearing organizations consisting of: Securities loaned $ 247,219 $ 284,987 Securities failed to receive 22,961 23,809 Payable to brokers 1,557 447 Clearing organizations and other (2) 6,489 52,647 Total $ 278,226 $ 361,890 (1) As of June 30, 2024, approximately $41.5 million of this balance represents a receivable for trades executed, but not yet settled. (2) As of December 31, 2023, approximately $48.4 million of this balance represents a payable for trades executed, but not yet settled.

Fair value measurements (Tables

Fair value measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Investments in Company-Sponsored Funds	The following table provides information about the Company's investments in Company-sponsored funds as of June 30, 2024: (Expressed in thousands) Fair Value Unfunded Redemption Redemption Hedge funds (1) $ 341 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 4,686 1,324 N/A N/A $ 5,027 $ 1,324 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. (2) Includes private equity funds and private equity fund of funds with diversified portfolios focusing on but not limited to technology companies, venture capital and global natural resources. The following table provides information about the Company's investments in Company-sponsored funds as of December 31, 2023: (Expressed in thousands) Fair Value Unfunded Redemption Redemption Hedge funds (1) $ 446 $ — Quarterly - Annually 30 - 120 Days Private equity funds (2) 5,072 2,367 N/A N/A $ 5,518 $ 2,367 (1) Includes investments in hedge funds and hedge fund of funds that pursue long/short, event-driven, and activist strategies. (2) Includes private equity funds and private equity fund of funds with diversified portfolios focusing on but not limited to technology companies, venture capital and global natural resources.
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis and Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis	The Company's assets and liabilities, recorded at fair value on a recurring basis as of June 30, 2024 and December 31, 2023, have been categorized based upon the above fair value hierarchy as follows: Assets and liabilities measured at fair value on a recurring basis as of June 30, 2024 : (Expressed in thousands) Fair Value Measurements as of June 30, 2024 Level 1 Level 2 Level 3 Total Assets Deposits with clearing organizations $ 34,967 $ — $ — $ 34,967 Securities owned: U.S. Treasury securities 859,623 — — 859,623 U.S. Agency securities — 5,755 — 5,755 Sovereign obligations — 424 — 424 Corporate debt and other obligations — 18,104 — 18,104 Mortgage and other asset-backed securities — 7,117 — 7,117 Municipal obligations — 88,373 — 88,373 Convertible bonds — 25,272 — 25,272 Corporate equities 29,622 — — 29,622 Money markets 5,750 503 — 6,253 Auction rate securities — — 2,713 2,713 Securities owned, at fair value 894,995 145,548 2,713 1,043,256 Investments (1) 1,369 17,287 — 18,656 Loans (1) — 689 — 689 Derivative contracts: TBAs — 29 — 29 Derivative contracts, total — 29 — 29 Total $ 931,331 $ 163,553 $ 2,713 $ 1,097,597 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 138,059 $ — $ — $ 138,059 U.S. Agency securities — 2 — 2 Corporate debt and other obligations — 7,279 — 7,279 Convertible bonds — 13,450 — 13,450 Corporate equities 18,461 — — 18,461 Securities sold but not yet purchased, at fair value 156,520 20,731 — 177,251 Derivative contracts: Futures 1,423 — — 1,423 TBAs — 33 — 33 Derivative contracts, total 1,423 33 — 1,456 Total $ 157,943 $ 20,764 $ — $ 178,707 (1) Included in other assets on the consolidated balance sheet. Assets and liabilities measured at fair value on a recurring basis as of December 31, 2023: (Expressed in thousands) Fair Value Measurements as of December 31, 2023 Level 1 Level 2 Level 3 Total Assets Deposits with clearing organizations $ 34,789 $ — $ — $ 34,789 Securities owned: U.S. Treasury securities 695,346 — — 695,346 U.S. Agency securities — 2 — 2 Corporate debt and other obligations — 5,769 — 5,769 Mortgage and other asset-backed securities — 6,627 — 6,627 Municipal obligations — 35,333 — 35,333 Convertible bonds — 16,735 — 16,735 Corporate equities 27,170 — — 27,170 Money markets 5,400 217 — 5,617 Auction rate securities — — 2,713 2,713 Securities owned, at fair value 727,916 64,683 2,713 795,312 Investments (1) 1,872 16,913 — 18,785 Securities purchased under agreements to resell — 5,842 — 5,842 Derivative contracts: Futures 2 — — 2 TBAs — 11 — 11 Derivative contracts, total 2 11 — 13 Total $ 764,579 $ 87,449 $ 2,713 $ 854,741 Liabilities Securities sold but not yet purchased: U.S. Treasury securities $ 14,603 $ — $ — $ 14,603 Corporate debt and other obligations — 1,508 — 1,508 Mortgage and other asset-backed securities — 2 — 2 Convertible bonds — 2,136 — 2,136 Corporate equities 13,427 — — 13,427 Securities sold but not yet purchased, at fair value 28,030 3,646 — 31,676 Derivative contracts: Futures 735 — — 735 TBAs — 2 — 2 Derivative contracts, total 735 2 — 737 Total $ 28,765 $ 3,648 $ — $ 32,413 (1) Included in other assets on the consolidated balance sheet. The following tables present changes in Level 3 assets and liabilities measured at fair value on a recurring basis for the three and six months ended June 30, 2024 and 2023: (Expressed in thousands) Level 3 Assets and Liabilities For the Three Months Ended June 30, 2024 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Gain and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 2,713 $ — $ — $ — $ — $ 2,713 (1) Represents auction rate securities that failed in the auction rate market. (Expressed in thousands) Level 3 Assets and Liabilities For the Three Months Ended June 30, 2023 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 31,776 $ 6 $ — $ (100) $ — $ 31,682 (1) Represents auction rate securities that failed in the auction rate market. (Expressed in thousands) Level 3 Assets and Liabilities For the Six Months Ended June 30, 2024 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 2,713 $ — $ — $ — $ — $ 2,713 (1) Represents auction rate securities that failed in the auction rate market. (Expressed in thousands) Level 3 Assets and Liabilities For the Six Months Ended June 30, 2023 Total Realized Beginning and Unrealized Purchases Sales and Transfers Ending Balance Losses and Issuances Settlements In (Out) Balance Assets Auction rate securities (1) $ 31,776 $ 6 $ — $ (100) $ — $ 31,682 (1) Represents auction rate securities that failed in the auction rate market.
Schedule of Assets and Liabilities Not Measured at Fair Value	Assets and liabilities not measured at fair value as of June 30, 2024: (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 33,214 $ 33,214 $ — $ — $ 33,214 Deposits with clearing organizations 73,448 73,448 — — 73,448 Receivable from brokers, dealers and clearing organizations: Securities borrowed 134,454 — 134,454 — 134,454 Receivables from brokers 57,699 — 57,699 — 57,699 Securities failed to deliver 20,054 — 20,054 — 20,054 Clearing organizations and other 84,828 — 84,828 — 84,828 297,035 — 297,035 — 297,035 Receivable from customers 1,161,685 — 1,161,685 — 1,161,685 Notes receivable, net 63,342 — 63,342 — 63,342 Securities purchased under agreements to resell 4,079 — 4,079 — 4,079 Corporate-owned life 94,646 — 94,646 — 94,646 Investments (1) 1,647 — 1,647 — 1,647 (1) Included within other assets on the consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Drafts payable $ 21,762 $ 21,762 $ — $ — $ 21,762 Bank call loans 218,800 — 218,800 — 218,800 Payables to brokers, dealers and clearing organizations: Securities loaned 247,219 — 247,219 — 247,219 Payable to brokers 1,557 — 1,557 — 1,557 Securities failed to receive 22,961 — 22,961 — 22,961 Clearing organization and other 5,066 — 5,066 — 5,066 276,803 — 276,803 — 276,803 Payables to customers 325,886 — 325,886 — 325,886 Securities sold under agreements to repurchase 822,785 — 822,785 — 822,785 Senior secured notes 113,050 — 111,637 — 111,637 Assets and liabilities not measured at fair value as of December 31, 2023: (Expressed in thousands) Fair Value Measurement: Assets Carrying Value Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 28,835 $ 28,835 $ — $ — $ 28,835 Deposits with clearing organization 43,917 43,917 — — 43,917 Receivable from brokers, dealers and clearing organizations: Securities borrowed 158,612 — 158,612 — 158,612 Receivables from brokers 65,639 — 65,639 — 65,639 Securities failed to deliver 29,656 — 29,656 — 29,656 Clearing organizations 30,780 — 30,780 — 30,780 284,687 — 284,687 — 284,687 Receivable from customers 1,059,892 — 1,059,892 — 1,059,892 Notes receivable, net 62,640 — 62,640 — 62,640 Corporate-owned life 88,989 — 88,989 — 88,989 Investments (1) 2,010 — 2,010 — 2,010 (1) Included within other assets on the consolidated balance sheet. (Expressed in thousands) Fair Value Measurement: Liabilities Carrying Value Level 1 Level 2 Level 3 Total Drafts payable $ 9,002 $ 9,002 $ — $ — $ 9,002 Payables to brokers, dealers and clearing organizations: Securities loaned 284,987 — 284,987 — 284,987 Payable to brokers 447 — 447 — 447 Securities failed to receive 23,809 — 23,809 — 23,809 Other 51,912 — 51,912 — 51,912 361,155 — 361,155 — 361,155 Payables to customers 369,287 — 369,287 — 369,287 Securities sold under agreements to repurchase 640,382 — 640,382 — 640,382 Senior secured notes 113,050 — 109,838 — 109,838
Schedule of Notional Amounts and Fair Values of Derivatives by Product	The notional amounts and fair values of the Company's derivatives as of June 30, 2024 and December 31, 2023 by product were as follows: (Expressed in thousands) Fair Value of Derivative Instruments as of June 30, 2024 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 10,215 $ 29 $ 10,215 $ 29 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 9,890,000 $ 1,423 Other contracts TBAs 10,215 33 $ 9,900,215 $ 1,456 (1) See "Derivative Instruments and Hedging Activities" above for a description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset. (Expressed in thousands) Fair Value of Derivative Instruments as of December 31, 2023 Description Notional Fair Value Assets: Derivatives not designated as hedging instruments (1) Other contracts TBAs $ 3,700 $ 11 Commodity contracts Futures 5,000 2 $ 8,700 $ 13 Liabilities: Derivatives not designated as hedging instruments (1) Commodity contracts Futures $ 6,875,000 $ 735 Other contracts TBAs 3,700 2 $ 6,878,700 $ 737 (1) See "Derivative Instruments and Hedging Activities" above for a description of derivative financial instruments. Such derivative instruments are not subject to master netting agreements, thus the related amounts are not offset.
Schedule of Fair Value Amounts of Derivative Instruments and their Effect on Consolidated Income Statements	The following table presents the location and fair value amounts of the Company's derivative instruments and their effect in the consolidated income statements for the three and six months ended June 30, 2024 and 2023: (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended June 30, 2024 Recognized in Income on Derivatives Types Description Location Net Gain Commodity contracts Futures Principal transactions revenue, net $ 1,184 Other contracts Foreign exchange forward contracts Other revenue/(Compensation and related expenses) (24) Other contracts TBAs Principal transactions revenue, net 2 $ 1,162 (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Three Months Ended June 30, 2023 Recognized in Income on Derivatives Types Description Location Net Gain Commodity contracts Futures Principal transactions revenue, net $ 3,529 Other contracts Foreign exchange forward contracts Other revenue/(Compensation and related expenses) (7) Other contracts TBAs Principal transactions revenue, net 36 $ 3,558 (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Six Months Ended June 30, 2024 Recognized in Income on Derivatives Types Description Location Net Gain Commodity contracts Futures Principal transactions revenue, net $ 4,436 Other contracts Foreign exchange forward contracts Other revenue/(Compensation and related expenses) $ (24) Other contracts TBAs Principal transactions revenue, net 3 $ 4,415 (Expressed in thousands) The Effect of Derivative Instruments in the Income Statement For the Six Months Ended June 30, 2023 Recognized in Income on Derivatives Types Description Location Net Gain Commodity contracts Futures Principal transactions revenue, net $ 3,739 Other contracts Foreign exchange forward contracts Other revenue/(Compensation and related expenses) $ (8) Other contracts TBAs Principal transactions revenue, net $ 38 $ 3,769

Collateralized transactions (Ta

Collateralized transactions (Tables)	6 Months Ended
	Jun. 30, 2024
Broker-Dealer [Abstract]
Schedule of Disaggregation of Gross Obligation by Class of Collateral Pledged and Remaining Contractual Maturity of Repurchase Agreements and Securities Loaned Transactions	The following table presents a disaggregation of the gross obligation by the class of collateral pledged and the remaining contractual maturity of the repurchase agreements and securities loaned transactions as of June 30, 2024: (Expressed in thousands) Overnight and Open Repurchase agreements: U.S. Government $ 846,269 Securities loaned: Equity securities 247,219 Gross amount of recognized liabilities for repurchase agreements and securities loaned $ 1,093,488
Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Loaned Transactions	The following tables present the gross amounts and the offsetting amounts of reverse repurchase agreements, repurchase agreements, securities borrowed and securities loaned transactions as of June 30, 2024 and December 31, 2023: As of June 30, 2024 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 27,563 $ (23,484) $ 4,079 $ (3,983) $ — $ 96 Securities borrowed (1) 134,454 — 134,454 (132,270) — 2,184 Total $ 162,017 $ (23,484) $ 138,533 $ (136,253) $ — $ 2,280 (1) Included in receivable from brokers, dealers and clearing organizations on the consolidated balance sheet. (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Repurchase agreements $ 846,269 $ (23,484) $ 822,785 $ (817,169) $ — $ 5,616 Securities loaned (2) 247,219 — 247,219 (238,094) — 9,125 Total $ 1,093,488 $ (23,484) $ 1,070,004 $ (1,055,263) $ — $ 14,741 (2) Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet. As of December 31, 2023 (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Reverse repurchase agreements $ 8,870 $ (3,028) $ 5,842 $ — $ — $ 5,842 Securities borrowed (1) 158,612 — 158,612 (149,946) — 8,666 Total $ 167,482 $ (3,028) $ 164,454 $ (149,946) $ — $ 14,508 (1) Included in receivable from brokers, dealers and clearing organizations on the condensed consolidated balance sheet. (Expressed in thousands) Gross Amounts Not Offset Gross Gross Net Amounts Financial Cash Net Amount Repurchase agreements $ 643,410 $ (3,028) $ 640,382 $ (632,521) $ — $ 7,861 Securities loaned (2) 284,987 — 284,987 (276,688) — 8,299 Total $ 928,397 $ (3,028) $ 925,369 $ (909,209) $ — $ 16,160 (2) Included in payable to brokers, dealers and clearing organizations on the consolidated balance sheet.

Variable interest entities ("_2

Variable interest entities ("VIEs") (Tables)	6 Months Ended
	Jun. 30, 2024
Variable Interest Entity [Abstract]
Schedule of Total Assets and Liabilities of VIEs	The following table sets forth the total assets and liabilities of VIEs consolidated on our condensed consolidated balance sheet: (Expressed in thousands) As of June 30, 2024 2023 Asset Cash and cash equivalents $ — $ 5,487 Restricted Cash — 25,803 Other Assets — 2,297 Total Assets $ — $ 33,587 Liabilities Other Liabilities — 821 Total Liabilities $ — $ 821

Long-term debt (Tables)

Long-term debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	(Expressed in thousands) Issued Maturity Date June 30, 2024 December 31, 2023 5.50% Senior Secured Notes 10/1/2025 $ 113,050 $ 113,050 Unamortized Debt Issuance Cost (283) (392) $ 112,767 $ 112,658

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Changes in Number of Shares of Class A Stock Outstanding	The following table reflects changes in the number of shares of Class A Stock outstanding for the periods indicated: For the Three Months Ended For the Six Months Ended 2024 2023 2024 2023 Class A Stock outstanding, beginning of period 10,247,197 10,975,723 10,186,783 10,868,556 Issued pursuant to share-based compensation plans 3,750 4,987 278,887 207,209 Repurchased and cancelled (23,102) (96,135) (237,825) (191,190) Class A Stock outstanding, end of period 10,227,845 10,884,575 10,227,845 10,884,575

Segment information (Tables)

Segment information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Reported Revenue and Pre-Tax Income (Loss)	The table below presents information about the reported revenue and pre-tax income (loss) of the Company for the three months ended June 30, 2024 and 2023. Asset information by reportable segment is not reported since the Company does not produce such information for internal use by the chief operating decision maker. (Expressed in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Revenue Private client (1) $ 208,701 $ 201,245 $ 421,734 $ 404,666 Asset management (1) 25,825 22,198 50,753 46,157 Capital markets 92,141 79,582 204,224 169,864 Corporate/Other 3,922 3,164 7,016 7,181 Total $ 330,589 $ 306,189 $ 683,727 $ 627,868 Pre-Tax Income (Loss) Private client (1) $ 55,537 $ 20,794 $ 123,688 $ 75,250 Asset management (1) 8,694 6,533 16,328 13,014 Capital markets (21,775) (14,051) (28,477) (29,528) Corporate/Other (26,591) (24,975) (58,219) (51,386) Total $ 15,865 $ (11,699) $ 53,320 $ 7,350 (1) Clients investing in the OAM advisory program are charged fees based on the value of AUM. Advisory fees are allocated 10.0% to the Asset Management and 90.0% to the Private Client segments.
Schedule of Revenue Classified by Major Geographic Areas	Revenue, classified by the major geographic areas in which it was earned, for the three months ended June 30, 2024 and 2023 was: (Expressed in thousands) For the Three Months Ended June 30, For the Six Months Ended June 30, 2024 2023 2024 2023 Americas $ 316,467 $ 295,496 $ 657,884 $ 605,285 Europe/Middle East 13,394 10,108 24,168 20,968 Asia 728 585 1,675 1,615 Total $ 330,589 $ 306,189 $ 683,727 $ 627,868

Organization (Details)

Organization (Details)	Jun. 30, 2024 office state
Organization And Basis Of Presentation [Line Items]
Number of states in which entity operates | state	25
UNITED STATES
Organization And Basis Of Presentation [Line Items]
Number of offices providing services | office	88

Summary of significant accoun_3

Summary of significant accounting policies and estimates (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
	Oct. 26, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Summary Of Significant Accounting Policies [Line Items]
Proceeds held in trust, period	10 days
Proceeds held in trust, combination period	18 months
Net loss attributable to noncontrolling interest, net of tax		$ 0	$ (168)	$ (310)	$ (321)
IPO
Summary Of Significant Accounting Policies [Line Items]
Proceeds from Company sponsored Initial Public Offering	$ 126,500
Total funds	127,800
Investment from sponsor	$ 1,300

Financial Instruments - Credi_3

Financial Instruments - Credit Losses - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Notes receivable, net	$ 63,342		$ 62,640
Uncollectible balance reserved (as a percent)	100%
Uncollectible balance period (in years)	5 years
Uncollected balance of defaulted notes	$ 6,601
Allowance for credit loss	3,853	$ 4,091	$ 3,869	$ 3,814	$ 4,051	$ 4,327
Notes Receivable, Five Years and Older
Financing Receivable, Credit Quality Indicator [Line Items]
Allowance for credit loss	2,000
Notes Receivable, Under Five Years
Financing Receivable, Credit Quality Indicator [Line Items]
Allowance for credit loss	$ 1,900
Minimum | Notes Receivable
Financing Receivable, Credit Quality Indicator [Line Items]
Service period (in years)	3 years
Maximum | Notes Receivable
Financing Receivable, Credit Quality Indicator [Line Items]
Service period (in years)	10 years

Financial Instruments - Credi_4

Financial Instruments - Credit Losses - Schedule of Disaggregation of Defaulted Notes by Year of Default (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Credit Loss [Abstract]
2024	$ 251
2023	2,157
2022	141
2021	1,644
2020	423
2019 and prior	1,985
Total	$ 6,601

Financial Instruments - Credi_5

Financial Instruments - Credit Losses - Schedule of Activity in Allowance for Uncollectibles of Defaulted Notes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 4,091	$ 4,051	$ 3,869	$ 4,327
Additions and other adjustments	(238)	(237)	(16)	(513)
Ending balance	$ 3,853	$ 3,814	$ 3,853	$ 3,814

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	Jun. 30, 2024 USD ($) office	Dec. 31, 2023 USD ($)
Lessee, Lease, Description [Line Items]
Right-of-use lease assets, net of accumulated amortization	$ 132,441	$ 140,554
Right of use asset, accumulated amortization	107,581	99,716
Lease liabilities	172,604	183,273
Lease not yet commenced, amount	25,200	$ 5,800
Real Estate Leases
Lessee, Lease, Description [Line Items]
Lease liabilities	170,100
Equipment Leases
Lessee, Lease, Description [Line Items]
Lease liabilities	2,500
Real Estate Leases
Lessee, Lease, Description [Line Items]
Right-of-use lease assets, net of accumulated amortization	129,900
Right of use asset, accumulated amortization	104,800
Equipment Leases
Lessee, Lease, Description [Line Items]
Right-of-use lease assets, net of accumulated amortization	2,500
Right of use asset, accumulated amortization	$ 2,800
UNITED STATES
Lessee, Lease, Description [Line Items]
Number of stores | office	88

Leases - Schedule of Weighted A

Leases - Schedule of Weighted Average Lease Term and Weighted Average Discount Rate (Details)	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Weighted average remaining lease term (in years)	6 years 18 days	6 years 4 months 6 days
Weighted average discount rate (as a percent)	7.75%	7.72%

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lessee, Lease, Description [Line Items]
Right-of-use lease asset amortization			$ 12,940	$ 13,945
Real Estate
Lessee, Lease, Description [Line Items]
Right-of-use lease asset amortization	$ 6,031	$ 6,686	12,077	13,125
Interest expense	3,228	3,398	6,551	6,607
Equipment
Lessee, Lease, Description [Line Items]
Right-of-use lease asset amortization	432	431	863	853
Interest expense	$ 44	$ 47	$ 90	$ 93

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases [Abstract]
2024	$ 22,059	$ 43,885
2025	40,203	38,759
2026	38,015	36,757
2027	35,641	34,823
2028	22,388	21,660
After 2028	59,577	58,081
Total lease payments	217,883	233,965
Less interest	(45,279)	(50,692)
Present value of lease liabilities	$ 172,604	$ 183,273

Revenue from contracts with c_3

Revenue from contracts with customers - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Contract assets (receivables)	$ 37,269	$ 39,861
Deferred revenue (payables)	$ 2,486	$ 1,118
Commission from Equity Securities Transactions
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)	1 day
Mutual fund and insurance income
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)	90 days
Advisory fees
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)	90 days
Investment banking - capital markets
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)	90 days
Bank deposit sweep income
Disaggregation of Revenue [Line Items]
Revenue settlement period (in days)	30 days

Revenue from contracts with c_4

Revenue from contracts with customers - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 283,906	$ 257,496	$ 586,541	$ 536,207
Interest	34,805	27,320	61,571	52,261
Principal transactions, net	10,074	16,253	28,308	29,743
Other	1,804	5,120	7,307	9,657
Total other sources of revenue	46,683	48,693	97,186	91,661
Total revenue	330,589	306,189	683,727	627,868
Corporate/Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,957	41	2,958	155
Interest	1,769	808	4,036	2,141
Principal transactions, net	132	1,771	(103)	3,808
Other	64	544	125	1,077
Total other sources of revenue	1,965	3,123	4,058	7,026
Total revenue	3,922	3,164	7,016	7,181
Private Client | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	184,641	173,220	369,454	351,128
Interest	21,626	22,403	41,822	42,982
Principal transactions, net	376	1,072	2,112	2,121
Other	2,058	4,550	8,346	8,435
Total other sources of revenue	24,060	28,025	52,280	53,538
Total revenue	208,701	201,245	421,734	404,666
Asset Management | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	26,240	22,196	52,200	46,150
Interest	0	0	0	0
Principal transactions, net	0	0	0	0
Other	(415)	2	(1,447)	7
Total other sources of revenue	(415)	2	(1,447)	7
Total revenue	25,825	22,198	50,753	46,157
Capital Markets | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	71,068	62,039	161,929	138,774
Interest	11,410	4,109	15,713	7,138
Principal transactions, net	9,566	13,410	26,299	23,814
Other	97	24	283	138
Total other sources of revenue	21,073	17,543	42,295	31,090
Total revenue	92,141	79,582	204,224	169,864
Commissions from sales and trading
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	88,943	80,828	176,923	159,805
Commissions from sales and trading | Corporate/Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3	8	8	14
Commissions from sales and trading | Private Client | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	44,766	37,666	89,696	76,590
Commissions from sales and trading | Asset Management | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Commissions from sales and trading | Capital Markets | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	44,174	43,154	87,219	83,201
Mutual fund and insurance income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	8,112	7,716	15,982	15,436
Mutual fund and insurance income | Corporate/Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	5	4	10	8
Mutual fund and insurance income | Private Client | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	8,106	7,711	15,970	15,423
Mutual fund and insurance income | Asset Management | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Mutual fund and insurance income | Capital Markets | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1	1	2	5
Advisory fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	117,197	101,015	232,044	201,559
Advisory fees | Corporate/Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	9	8	20	15
Advisory fees | Private Client | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	90,947	78,811	179,823	155,394
Advisory fees | Asset Management | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	26,241	22,196	52,201	46,150
Advisory fees | Capital Markets | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Investment banking - capital markets
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	16,828	9,033	35,476	19,061
Investment banking - capital markets | Corporate/Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(1)	0	(1)	0
Investment banking - capital markets | Private Client | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	2,807	1,688	5,828	3,475
Investment banking - capital markets | Asset Management | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Investment banking - capital markets | Capital Markets | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	14,022	7,345	29,649	15,586
Investment banking - advisory
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	12,291	10,945	44,180	38,882
Investment banking - advisory | Corporate/Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Investment banking - advisory | Private Client | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	21	0
Investment banking - advisory | Asset Management | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Investment banking - advisory | Capital Markets | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	12,291	10,945	44,159	38,882
Bank deposit sweep income
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	34,846	44,060	71,531	92,969
Bank deposit sweep income | Corporate/Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(1)	0	(1)	0
Bank deposit sweep income | Private Client | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	34,847	44,060	71,532	92,969
Bank deposit sweep income | Asset Management | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Bank deposit sweep income | Capital Markets | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	0	0	0	0
Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	5,689	3,899	10,405	8,495
Other | Corporate/Other
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	1,942	21	2,922	118
Other | Private Client | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3,168	3,284	6,584	7,277
Other | Asset Management | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	(1)	0	(1)	0
Other | Capital Markets | Operating Segments
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 580	$ 594	$ 900	$ 1,100

Revenue from contracts with c_5

Revenue from contracts with customers - Schedule of Receivables and Deferred Revenue Balances from Contracts with Customers (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	$ 37,269	$ 39,861
Deferred revenue (payables)	2,486	1,118
Investment Banking Fees
Capitalized Contract Cost [Line Items]
Deferred revenue (payables)	810	1,118
Software License Fees
Capitalized Contract Cost [Line Items]
Deferred revenue (payables)	456	0
IRA fees
Capitalized Contract Cost [Line Items]
Deferred revenue (payables)	1,220	0
Commission
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	4,286	4,554
Mutual Fund Income
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	5,663	5,365
Advisory fees
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	3,437	5,746
Bank deposit sweep income
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	4,868	5,223
Investment Banking Fees
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	11,856	12,847
Other
Capitalized Contract Cost [Line Items]
Contract assets (receivables)	$ 7,159	$ 6,126

Earnings per share (Details)

Earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Basic weighted average number of shares outstanding (in shares)	10,327,818	11,016,430	10,367,636	11,054,306
Net dilutive effect of share-based awards, treasury stock method (in shares)	784,085	0	715,786	857,073
Diluted weighted average number of shares outstanding (in shares)	11,111,903	11,016,430	11,083,422	11,911,379
Net income attributable to Oppenheimer Holdings Inc.	$ 10,266	$ (9,400)	$ 36,320	$ 5,217
Earnings per share attributable to Oppenheimer Holdings Inc. - Basic (in dollars per share)	$ 0.99	$ (0.85)	$ 3.49	$ 0.47
Earnings per share attributable to Oppenheimer Holdings Inc. - Diluted (in dollars per share)	$ 0.92	$ (0.85)	$ 3.29	$ 0.44
Class A Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of anti-dilutive stock options granted (in shares)	0	1,138,992	1,000	281,810

Receivable from and payable t_3

Receivable from and payable to brokers, dealers and clearing organizations (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Receivable from brokers, dealers and clearing organizations consisting of:
Securities borrowed	$ 134,454	$ 158,612
Receivable from brokers	57,699	65,639
Clearing organizations and other	84,824	30,789
Securities failed to deliver	20,054	29,656
Total	297,031	284,696
Payable to brokers, dealers and clearing organizations consisting of:
Securities loaned	247,219	284,987
Securities failed to receive	22,961	23,809
Payable to brokers	1,557	447
Clearing organizations and other	6,489	52,647
Total	278,226	361,890
Receivables from clearing organizations, not yet settled	$ 41,500
Payables to clearing organization, not yet settled		$ 48,400

Fair value measurements - Narra

Fair value measurements - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value	$ 1,043,256	$ 795,312
Valuation adjustment	$ 200
Forward or delayed delivery of the underlying instrument with settlement	180 days
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value	$ 145,548	$ 64,683
Other Assets | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Investments	7,200
Auction rate securities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Securities owned, at fair value	$ 2,700

Fair value measurements - Sched

Fair value measurements - Schedule of Investments in Company-Sponsored Funds (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 5,027,000	$ 5,518
Unfunded Commitments	1,324,000	2,367
Hedge Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	341,000	446
Unfunded Commitments	$ 0	$ 0
Hedge Funds | Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Redemption Notice Period	30 days	30 days
Hedge Funds | Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Redemption Notice Period	120 days	120 days
Private Equity Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value	$ 4,686,000	$ 5,072
Unfunded Commitments	$ 1,324,000	$ 2,367

Fair value measurements - Sch_2

Fair value measurements - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Deposits with clearing organizations	$ 34,967	$ 34,789
Securities owned:
Securities owned, at fair value	1,043,256	795,312
Investments	18,656	18,785
Loans	689
Securities purchased under agreements to resell	4,079	5,842
Derivative contracts:
Derivative contracts, total	29	13
Total	1,097,597	854,741
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	177,251	31,676
Derivative contracts:
Derivative contracts, total	1,456	737
Total	178,707	32,413
U.S. Treasury securities
Securities owned:
Securities owned, at fair value	859,623	695,346
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	138,059	14,603
U.S. Agency securities
Securities owned:
Securities owned, at fair value	5,755	2
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	2
Sovereign obligations
Securities owned:
Securities owned, at fair value	424
Corporate debt and other obligations
Securities owned:
Securities owned, at fair value	18,104	5,769
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	7,279	1,508
Mortgage and other asset-backed securities
Securities owned:
Securities owned, at fair value	7,117	6,627
Municipal obligations
Securities owned:
Securities owned, at fair value	88,373	35,333
Convertible bonds
Securities owned:
Securities owned, at fair value	25,272	16,735
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	13,450	2,136
Corporate equities
Securities owned:
Securities owned, at fair value	29,622	27,170
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	18,461	13,427
Money markets
Securities owned:
Securities owned, at fair value	6,253	5,617
Auction rate securities
Securities owned:
Securities owned, at fair value	2,713	2,713
Futures
Derivative contracts:
Derivative contracts, total		2
Derivative contracts:
Derivative contracts, total	1,423	735
TBAs
Derivative contracts:
Derivative contracts, total	29	11
Derivative contracts:
Derivative contracts, total	33	2
Mortgage and other asset-backed securities
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value		2
Level 1
ASSETS
Deposits with clearing organizations	34,967	34,789
Securities owned:
Securities owned, at fair value	894,995	727,916
Investments	1,369	1,872
Loans	0
Securities purchased under agreements to resell		0
Derivative contracts:
Derivative contracts, total	0	2
Total	931,331	764,579
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	156,520	28,030
Derivative contracts:
Derivative contracts, total	1,423	735
Total	157,943	28,765
Level 1 | U.S. Treasury securities
Securities owned:
Securities owned, at fair value	859,623	695,346
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	138,059	14,603
Level 1 | U.S. Agency securities
Securities owned:
Securities owned, at fair value	0	0
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0
Level 1 | Sovereign obligations
Securities owned:
Securities owned, at fair value	0
Level 1 | Corporate debt and other obligations
Securities owned:
Securities owned, at fair value	0	0
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0	0
Level 1 | Mortgage and other asset-backed securities
Securities owned:
Securities owned, at fair value	0	0
Level 1 | Municipal obligations
Securities owned:
Securities owned, at fair value	0	0
Level 1 | Convertible bonds
Securities owned:
Securities owned, at fair value	0	0
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0	0
Level 1 | Corporate equities
Securities owned:
Securities owned, at fair value	29,622	27,170
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	18,461	13,427
Level 1 | Money markets
Securities owned:
Securities owned, at fair value	5,750	5,400
Level 1 | Auction rate securities
Securities owned:
Securities owned, at fair value	0	0
Level 1 | Futures
Derivative contracts:
Derivative contracts, total		2
Derivative contracts:
Derivative contracts, total	1,423	735
Level 1 | TBAs
Derivative contracts:
Derivative contracts, total	0	0
Derivative contracts:
Derivative contracts, total	0	0
Level 1 | Mortgage and other asset-backed securities
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value		0
Level 2
ASSETS
Deposits with clearing organizations	0	0
Securities owned:
Securities owned, at fair value	145,548	64,683
Investments	17,287	16,913
Loans	689
Securities purchased under agreements to resell		5,842
Derivative contracts:
Derivative contracts, total	29	11
Total	163,553	87,449
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	20,731	3,646
Derivative contracts:
Derivative contracts, total	33	2
Total	20,764	3,648
Level 2 | U.S. Treasury securities
Securities owned:
Securities owned, at fair value	0	0
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0	0
Level 2 | U.S. Agency securities
Securities owned:
Securities owned, at fair value	5,755	2
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	2
Level 2 | Sovereign obligations
Securities owned:
Securities owned, at fair value	424
Level 2 | Corporate debt and other obligations
Securities owned:
Securities owned, at fair value	18,104	5,769
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	7,279	1,508
Level 2 | Mortgage and other asset-backed securities
Securities owned:
Securities owned, at fair value	7,117	6,627
Level 2 | Municipal obligations
Securities owned:
Securities owned, at fair value	88,373	35,333
Level 2 | Convertible bonds
Securities owned:
Securities owned, at fair value	25,272	16,735
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	13,450	2,136
Level 2 | Corporate equities
Securities owned:
Securities owned, at fair value	0	0
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0	0
Level 2 | Money markets
Securities owned:
Securities owned, at fair value	503	217
Level 2 | Auction rate securities
Securities owned:
Securities owned, at fair value	0	0
Level 2 | Futures
Derivative contracts:
Derivative contracts, total		0
Derivative contracts:
Derivative contracts, total	0	0
Level 2 | TBAs
Derivative contracts:
Derivative contracts, total	29	11
Derivative contracts:
Derivative contracts, total	33	2
Level 2 | Mortgage and other asset-backed securities
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value		2
Level 3
ASSETS
Deposits with clearing organizations	0	0
Securities owned:
Securities owned, at fair value	2,713	2,713
Investments	0	0
Loans	0
Securities purchased under agreements to resell		0
Derivative contracts:
Derivative contracts, total	0	0
Total	2,713	2,713
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0	0
Derivative contracts:
Derivative contracts, total	0	0
Total	0	0
Level 3 | U.S. Treasury securities
Securities owned:
Securities owned, at fair value	0	0
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0	0
Level 3 | U.S. Agency securities
Securities owned:
Securities owned, at fair value	0	0
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0
Level 3 | Sovereign obligations
Securities owned:
Securities owned, at fair value	0
Level 3 | Corporate debt and other obligations
Securities owned:
Securities owned, at fair value	0	0
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0	0
Level 3 | Mortgage and other asset-backed securities
Securities owned:
Securities owned, at fair value	0	0
Level 3 | Municipal obligations
Securities owned:
Securities owned, at fair value	0	0
Level 3 | Convertible bonds
Securities owned:
Securities owned, at fair value	0	0
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0	0
Level 3 | Corporate equities
Securities owned:
Securities owned, at fair value	0	0
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value	0	0
Level 3 | Money markets
Securities owned:
Securities owned, at fair value	0	0
Level 3 | Auction rate securities
Securities owned:
Securities owned, at fair value	2,713	2,713
Level 3 | Futures
Derivative contracts:
Derivative contracts, total		0
Derivative contracts:
Derivative contracts, total	0	0
Level 3 | TBAs
Derivative contracts:
Derivative contracts, total	0	0
Derivative contracts:
Derivative contracts, total	$ 0	0
Level 3 | Mortgage and other asset-backed securities
Securities sold but not yet purchased:
Securities sold but not yet purchased, at fair value		$ 0

Fair value measurements - Sch_3

Fair value measurements - Schedule of Changes in Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Auction rate securities - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 2,713	$ 31,776	$ 2,713	$ 31,776
Total realized and unrealized gain (losses)	0	6	0	6
Purchases and issuances	0	0	0	0
Sales and settlements	0	(100)	0	(100)
Transfers in (out)	0	0	0	0
Ending balance	$ 2,713	$ 31,682	$ 2,713	$ 31,682

Fair value measurements - Sch_4

Fair value measurements - Schedule of Assets and Liabilities Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Securities purchased under agreements to resell	$ 4,079	$ 5,842
Corporate-owned life insurance	94,646	88,989
Level 1
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Securities purchased under agreements to resell		0
Level 2
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Securities purchased under agreements to resell		5,842
Level 3
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Securities purchased under agreements to resell		0
Fair Value, Nonrecurring
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Cash and cash equivalents	33,214	28,835
Deposits with clearing organizations	73,448	43,917
Securities borrowed	134,454	158,612
Receivables from brokers	57,699	65,639
Securities failed to deliver	20,054	29,656
Clearing organizations and other	84,828	30,780
Total receivable from brokers, dealers and clearing organizations	297,035	284,687
Receivable from customers	1,161,685	1,059,892
Notes receivable, net	63,342	62,640
Securities purchased under agreements to resell	4,079
Corporate-owned life insurance	94,646	88,989
Investments	1,647	2,010
Drafts payable	21,762	9,002
Bank call loans	218,800
Securities loaned	247,219	284,987
Payable to brokers	1,557	447
Securities failed to receive	22,961	23,809
Clearing organization and other	5,066	51,912
Total payables to brokers, dealers and clearing organizations	276,803	361,155
Payables to customers	325,886	369,287
Securities sold under agreements to repurchase	822,785	640,382
Senior secured notes	111,637	109,838
Fair Value, Nonrecurring | Level 1
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Cash and cash equivalents	33,214	28,835
Deposits with clearing organizations	73,448	43,917
Securities borrowed	0	0
Receivables from brokers	0	0
Securities failed to deliver	0	0
Clearing organizations and other	0	0
Total receivable from brokers, dealers and clearing organizations	0	0
Receivable from customers	0	0
Notes receivable, net	0	0
Securities purchased under agreements to resell	0
Corporate-owned life insurance	0	0
Investments	0	0
Drafts payable	21,762	9,002
Bank call loans	0
Securities loaned	0	0
Payable to brokers	0	0
Securities failed to receive	0	0
Clearing organization and other	0	0
Total payables to brokers, dealers and clearing organizations	0	0
Payables to customers	0	0
Securities sold under agreements to repurchase	0	0
Senior secured notes	0	0
Fair Value, Nonrecurring | Level 2
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Cash and cash equivalents	0	0
Deposits with clearing organizations	0	0
Securities borrowed	134,454	158,612
Receivables from brokers	57,699	65,639
Securities failed to deliver	20,054	29,656
Clearing organizations and other	84,828	30,780
Total receivable from brokers, dealers and clearing organizations	297,035	284,687
Receivable from customers	1,161,685	1,059,892
Notes receivable, net	63,342	62,640
Securities purchased under agreements to resell	4,079
Corporate-owned life insurance	94,646	88,989
Investments	1,647	2,010
Drafts payable	0	0
Bank call loans	218,800
Securities loaned	247,219	284,987
Payable to brokers	1,557	447
Securities failed to receive	22,961	23,809
Clearing organization and other	5,066	51,912
Total payables to brokers, dealers and clearing organizations	276,803	361,155
Payables to customers	325,886	369,287
Securities sold under agreements to repurchase	822,785	640,382
Senior secured notes	111,637	109,838
Fair Value, Nonrecurring | Level 3
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Cash and cash equivalents	0	0
Deposits with clearing organizations	0	0
Securities borrowed	0	0
Receivables from brokers	0	0
Securities failed to deliver	0	0
Clearing organizations and other	0	0
Total receivable from brokers, dealers and clearing organizations	0	0
Receivable from customers	0	0
Notes receivable, net	0	0
Securities purchased under agreements to resell	0
Corporate-owned life insurance	0	0
Investments	0	0
Drafts payable	0	0
Bank call loans	0
Securities loaned	0	0
Payable to brokers	0	0
Securities failed to receive	0	0
Clearing organization and other	0	0
Total payables to brokers, dealers and clearing organizations	0	0
Payables to customers	0	0
Securities sold under agreements to repurchase	0	0
Senior secured notes	0	0
Carrying Value | Fair Value, Nonrecurring
Financial Instruments, Estimate Not Practicable, Fair Value [Line Items]
Cash and cash equivalents	33,214	28,835
Deposits with clearing organizations	73,448	43,917
Securities borrowed	134,454	158,612
Receivables from brokers	57,699	65,639
Securities failed to deliver	20,054	29,656
Clearing organizations and other	84,828	30,780
Total receivable from brokers, dealers and clearing organizations	297,035	284,687
Receivable from customers	1,161,685	1,059,892
Notes receivable, net	63,342	62,640
Securities purchased under agreements to resell	4,079
Corporate-owned life insurance	94,646	88,989
Investments	1,647	2,010
Drafts payable	21,762	9,002
Bank call loans	218,800
Securities loaned	247,219	284,987
Payable to brokers	1,557	447
Securities failed to receive	22,961	23,809
Clearing organization and other	5,066	51,912
Total payables to brokers, dealers and clearing organizations	276,803	361,155
Payables to customers	325,886	369,287
Securities sold under agreements to repurchase	822,785	640,382
Senior secured notes	$ 113,050	$ 113,050

Fair value measurements - Sch_5

Fair value measurements - Schedule of Notional Amounts and Fair Values of Derivatives by Product (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Notional derivative asset	$ 10,215	$ 8,700
Fair value derivative asset	29	13
Notional derivative liability	9,900,215	6,878,700
Fair value derivative liability	1,456	737
TBAs | Other contracts
Derivatives, Fair Value [Line Items]
Notional derivative asset	10,215	3,700
Fair value derivative asset	29	11
Notional derivative liability	10,215	3,700
Fair value derivative liability	33	2
Futures | Commodity contracts
Derivatives, Fair Value [Line Items]
Notional derivative asset		5,000
Fair value derivative asset		2
Notional derivative liability	9,890,000	6,875,000
Fair value derivative liability	$ 1,423	$ 735

Fair value measurements - Sch_6

Fair value measurements - Schedule of Fair Value Amounts of Derivative Instruments and their Effect on Consolidated Income Statements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax)	$ 1,162	$ 3,558	$ 4,415	$ 3,769
Commodity contracts | Principal transactions revenue, net | Futures
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax)	1,184	3,529	4,436	3,739
Other contracts | Principal transactions revenue, net | TBAs
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax)	2	36	3	38
Other contracts | Other revenue/(Compensation and related expenses) | Foreign exchange forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Recognized in Income on Derivatives (pre-tax)	$ (24)	$ (7)	$ (24)	$ (8)

Collateralized transactions - N

Collateralized transactions - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 USD ($) dealer customer	Dec. 31, 2023 USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Bank call loans	$ 218,800,000	$ 0
Market value of securities	39,100,000	208,000,000
Customer securities under customer margin loans that are available to be pledged	1,600,000,000
Re-pledged amounts under securities loans agreements	186,200,000
Customer securities directly with the Options Clearing Corporation to secure obligations and margin requirements under option contracts written by customers	22,900,000
Outstanding letters of credit	0
Amounts pledged	$ 867,341,000	689,381,000
Number of broker-dealers | dealer	2
Receivable from brokers and clearing organizations	$ 81,200,000
Number of customers | customer	2
Receivable from customers	$ 543,800,000
Number of business days for related transactions (in days)	1 day
Corporate equities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of securities received as collateral	$ 130,300,000	151,900,000
Corporate equities | Reverse Repurchase Agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of collateral	27,500,000	8,800,000
Corporate equities | Securities Borrowed Transactions
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of securities received as collateral, sold and re-pledged under securities loaned	$ 50,000,000	61,500,000
Corporate equities | Repurchase Agreements
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value of collateral		$ 8,800,000

Collateralized transactions - S

Collateralized transactions - Schedule of Disaggregation of Gross Obligation by Class of Collateral Pledged and Remaining Contractual Maturity of Repurchase Agreements and Securities Loaned Transactions (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U.S. Government		$ 643,410
Equity securities		$ 284,987
Overnight and Open
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
U.S. Government	$ 846,269
Equity securities	247,219
Gross amount of recognized liabilities for repurchase agreements and securities loaned	$ 1,093,488

Collateralized transactions -_2

Collateralized transactions - Schedule of Gross Amounts and Offsetting Amounts of Reverse Repurchase Agreements, Repurchase Agreements, Securities Borrowed and Securities Loaned Transactions (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Reverse repurchase agreements
Gross Amounts of Recognized Assets	$ 27,563	$ 8,870
Gross Amounts Offset on the Balance Sheet	(23,484)	(3,028)
Net Amounts of Assets Presented on the Balance Sheet	4,079	5,842
Financial Instruments	(3,983)	0
Cash Collateral Received	0	0
Net Amount	96	5,842
Securities Borrowed
Gross Amounts of Recognized Assets	134,454	158,612
Gross Amounts Offset on the Balance Sheet	0	0
Net Amounts of Assets Presented on the Balance Sheet	134,454	158,612
Financial Instruments	(132,270)	(149,946)
Cash Collateral Received	0	0
Net Amount	2,184	8,666
Total
Gross Amounts of Recognized Assets	162,017	167,482
Gross Amounts Offset on the Balance Sheet	(23,484)	(3,028)
Net Amounts of Assets Presented on the Balance Sheet	138,533	164,454
Financial Instruments	(136,253)	(149,946)
Cash Collateral Received	0	0
Net Amount	2,280	14,508
Repurchase agreements
Gross Amounts of Recognized Liabilities		643,410
Gross Amounts Offset on the Balance Sheet	(23,484)	(3,028)
Net Amounts of Liabilities Presented on the Balance Sheet	822,785	640,382
Financial Instruments	(817,169)	(632,521)
Cash Collateral Pledged	0	0
Net Amount	5,616	7,861
Securities Loaned
Gross Amounts of Recognized Liabilities		284,987
Gross Amounts Offset on the Balance Sheet	0	0
Net Amounts of Liabilities Presented on the Balance Sheet	247,219	284,987
Financial Instruments	(238,094)	(276,688)
Cash Collateral Pledged	0	0
Net Amount	9,125	8,299
Total
Gross Amounts of Recognized Liabilities	1,093,488	928,397
Gross Amounts Offset on the Balance Sheet	(23,484)	(3,028)
Net Amounts of Liabilities Presented on the Balance Sheet	1,070,004	925,369
Financial Instruments	(1,055,263)	(909,209)
Cash Collateral Pledged	0	0
Net Amount	$ 14,741	$ 16,160

Variable interest entities ("_3

Variable interest entities ("VIEs") (Details) $ in Thousands	Jun. 30, 2024 USD ($) company	Dec. 31, 2023 USD ($)	Jun. 30, 2023 USD ($)
Variable Interest Entity [Abstract]
Number of special purpose acquisition companies | company	2
Asset
Cash and cash equivalents	$ 33,214	$ 28,835	$ 29,145
Restricted Cash	0		25,803
Other Assets	101,908	101,775
Total assets	3,262,538	2,874,816
Liabilities
Total liabilities	2,450,478	$ 2,085,577
Variable Interest Entity, Primary Beneficiary
Asset
Cash and cash equivalents	0		5,487
Restricted Cash	0		25,803
Other Assets	0		2,297
Total assets	0		33,587
Liabilities
Other Liabilities	0		821
Total liabilities	$ 0		$ 821

Long-term debt - Schedule of Lo

Long-term debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Sep. 22, 2020
Debt Instrument [Line Items]
Unamortized Debt Issuance Cost	$ (283)	$ (392)
Long-term debt	112,767	112,658
5.50% Senior Secured Notes
Debt Instrument [Line Items]
Long-term debt, gross	$ 113,050	$ 113,050
5.50% Senior Secured Notes | Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)			5.50%

Long-term debt - Narrative (Det

Long-term debt - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended
	Nov. 23, 2020	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Mar. 31, 2023	Sep. 22, 2020
Debt Instrument [Line Items]
Debt issuance costs	$ 3,100,000
Debt issuance cost, amount paid to subsidiary	1,900,000
Debt issuance costs capitalized	$ 1,200,000
5.50% Senior Secured Notes
Debt Instrument [Line Items]
Long-term debt, gross		$ 113,050,000		$ 113,050,000		$ 113,050,000
Interest expense		1,600,000	$ 1,600,000	3,100,000	$ 3,100,000
6.75% Senior Secured Notes
Debt Instrument [Line Items]
Long term debt held in treasury								$ 1,400,000
Long term debt outstanding, net of amount held in treasury								$ 148,600,000
Senior Secured Notes | 5.50% Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)								5.50%
Aggregate principal amount of debt issued								$ 125,000,000
Issue price (as a percent)								100%
Redemption price (as a percent)	99.80%
Interest rate during period (as a percent)	5.50%
Debt instrument, repurchase amount							$ 1,000,000
Notes outstanding		$ 113,050,000		$ 113,050,000
Senior Secured Notes | 6.75% Senior Secured Notes
Debt Instrument [Line Items]
Stated interest rate (as a percent)								6.75%
Long-term debt, gross								$ 150,000,000

Income taxes (Details)

Income taxes (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Effective income tax rate (as a percent)	35.30%	18.20%	32.50%	33.40%

Stockholders' Equity - Narrativ

Stockholders' Equity - Narrative (Details) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
	Jul. 06, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Mar. 31, 2024	Mar. 01, 2024	May 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Preferred stock, authorized (in shares)		50,000,000		50,000,000
Preferred stock, par value (in dollars per share)		$ 0.001		$ 0.001
Common stock, par value (in dollars per share)		$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001					$ 0.001
Preferred stock, issued (in shares)		0		0
Payments for repurchase of common stock				$ 9,309,000	$ 7,285,000
Class A Stock
Class of Stock [Line Items]
Common stock, authorized (in shares)		50,000,000		50,000,000		50,000,000
Common stock, par value (in dollars per share)		$ 0.001		$ 0.001
Common stock, issued (in shares)		10,227,845		10,227,845		10,186,783
Common stock, outstanding (in shares)	10,447,392	10,227,845	10,884,575	10,227,845	10,884,575	10,186,783	10,247,197	10,357,376		10,975,723	10,868,556
Total consideration for repurchase of stock		$ 924,364	$ 3,600,000	$ 9,300,000	$ 7,300,000
Remaining amount authorized for repurchase (in shares)		503,874		503,874		223,699		638,155
Class A Stock | Modified Dutch Auction Tender Offer
Class of Stock [Line Items]
Authorized amount									$ 30,000,000
Stock repurchase program, price (in dollars per share)	$ 40
Stock repurchased (in shares)	437,183
Payments for repurchase of common stock	$ 17,490,000
Class A Stock | Modified Dutch Auction Tender Offer | Minimum
Class of Stock [Line Items]
Stock repurchase program, price (in dollars per share)									$ 34
Class A Stock | Modified Dutch Auction Tender Offer | Maximum
Class of Stock [Line Items]
Stock repurchase program, price (in dollars per share)									$ 40
Class A Stock | New Program
Class of Stock [Line Items]
Stock repurchased (in shares)		23,102	96,135	237,825	191,190	463,335
Total consideration for repurchase of stock						$ 17,600,000
Stock repurchased (in dollars per share)		$ 40.01	$ 37.43	$ 39.14	$ 38.11	$ 38.07
Class A Stock | Previous Program
Class of Stock [Line Items]
Remaining amount authorized for repurchase (in shares)								120,155
Class A Stock | Share Repurchase Program, March (2024)
Class of Stock [Line Items]
Repurchase of class A common stock (in shares)								518,000
Shares repurchased as a percent of shares outstanding (as a percent)								5%
Class B Stock
Class of Stock [Line Items]
Common stock, authorized (in shares)		99,665		99,665		99,665
Common stock, par value (in dollars per share)		$ 0.001		$ 0.001
Common stock, issued (in shares)		99,665		99,665		99,665
Common stock, outstanding (in shares)		99,665		99,665		99,665

Stockholders' Equity - Schedule

Stockholders' Equity - Schedule of Changes in Number of Shares of Class A Stock Outstanding (Details) - Class A Stock - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Change In Common Stock Outstanding [Roll Forward]
Class A Stock outstanding, beginning of period	10,247,197	10,975,723	10,186,783	10,868,556
Issued pursuant to share-based compensation plans	3,750	4,987	278,887	207,209
Repurchased and cancelled	(23,102)	(96,135)	(237,825)	(191,190)
Class A Stock outstanding, end of period	10,227,845	10,884,575	10,227,845	10,884,575

Contingencies (Details)

Contingencies (Details) $ in Millions	Aug. 31, 2021 USD ($) arbitration	Jun. 30, 2024 USD ($)	Jan. 30, 2024 USD ($)
Loss Contingencies [Line Items]
Estimated range of loss in excess of amounts accrued | $		$ 4
Number of arbitrations | arbitration	51
Damages sought | $	$ 3.8
Estimate of possible loss amount | $			$ 1.2
Settled Litigation
Loss Contingencies [Line Items]
Number of claims settled | arbitration	49
Pending Litigation
Loss Contingencies [Line Items]
Number of arbitrations | arbitration	2

Regulatory requirements (Detail

Regulatory requirements (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Regulatory Capital Requirements [Line Items]
Regulatory capital required to be maintained	$ 4,150,000
Oppenheimer
Regulatory Capital Requirements [Line Items]
Required percentage of net capital to aggregate customer-related debit items (as a percent)	2%
Net capital	$ 460,700,000
Aggregate indebtedness (as a percent)	43.90%
Excess capital	$ 439,700,000
Freedom
Regulatory Capital Requirements [Line Items]
Net capital	$ 3,900,000
Aggregate indebtedness (as a percent)	6.67%
Freedom maintain net capital equal to the greater	$ 100,000
Net capital in excess of minimum required	$ 3,800,000
Oppenheimer Europe Ltd
Regulatory Capital Requirements [Line Items]
Common Equity Tier 1 Ratio (as a percent)	127%
Common Equity Tier 1 Ratio Required (as a percent)	56%
Tier 1 Capital Ratio Required (as a percent)	75%
Total Capital Ratio (as a percent)	171%
Total Capital Ratio Required (as a percent)	100%
Oppenheimer Investments Asia Ltd.
Regulatory Capital Requirements [Line Items]
Net capital	$ 3,600,000
Excess Liquid Capital under Hong Kong SFC Rules	3,200,000
Regulatory capital required to be maintained	$ 384,170

Segment information - Schedule

Segment information - Schedule of Reported Revenue and Pre-Tax Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue
Revenue	$ 330,589	$ 306,189	$ 683,727	$ 627,868
Pre-Tax Income (Loss)
Pre-Tax Income (Loss)	15,865	(11,699)	53,320	7,350
Corporate/Other
Revenue
Revenue	3,922	3,164	7,016	7,181
Pre-Tax Income (Loss)
Pre-Tax Income (Loss)	$ (26,591)	$ (24,975)	$ (58,219)	$ (51,386)
Private Client
Pre-Tax Income (Loss)
Asset management fees (as a percent)	90%	90%	90%	90%
Private Client | Operating Segments
Revenue
Revenue	$ 208,701	$ 201,245	$ 421,734	$ 404,666
Pre-Tax Income (Loss)
Pre-Tax Income (Loss)	$ 55,537	$ 20,794	$ 123,688	$ 75,250
Asset Management
Pre-Tax Income (Loss)
Asset management fees (as a percent)	10%	10%	10%	10%
Asset Management | Operating Segments
Revenue
Revenue	$ 25,825	$ 22,198	$ 50,753	$ 46,157
Pre-Tax Income (Loss)
Pre-Tax Income (Loss)	8,694	6,533	16,328	13,014
Capital markets | Operating Segments
Revenue
Revenue	92,141	79,582	204,224	169,864
Pre-Tax Income (Loss)
Pre-Tax Income (Loss)	$ (21,775)	$ (14,051)	$ (28,477)	$ (29,528)

Segment information - Schedul_2

Segment information - Schedule of Revenue Classified by Major Geographic Areas (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 330,589	$ 306,189	$ 683,727	$ 627,868
Americas
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	316,467	295,496	657,884	605,285
Europe/Middle East
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	13,394	10,108	24,168	20,968
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Total	$ 728	$ 585	$ 1,675	$ 1,615

Subsequent events (Details)

Subsequent events (Details) - Subsequent Event	Jul. 26, 2024 $ / shares
Class A Stock
Subsequent Events [Line Items]
Quarterly dividend payable amount per share (in dollars per share)	$ 0.18
Class B Stock
Subsequent Events [Line Items]
Quarterly dividend payable amount per share (in dollars per share)	$ 0.18