Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 1624

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 1B
Chunk 1624
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31, 2023  
 Corporate bonds and redeemable preferred stock  $7,342  $24,355 
 Derivatives   4,050   6,719 
 Equity securities   83   393 
 U.S. government agency debt securities   40   - 
 U.S. Treasury securities   24,917   34,284 
 Trading securities sold, not yet purchased  $36,432  $65,751 

   The Company manages its exposure to changes in interest rates for the interest rate sensitive securities it holds by entering into offsetting short positions for similar fixed rate securities. See note 5 for realized and unrealized gains recognized on investments-trading and trading securities sold, not yet purchased.  

        F-
       25

   Other Investments, at Fair Value 
   ﻿ 
   Other investments, at fair value consisted of the following.
   ﻿ 
    OTHER INVESTMENTS, AT FAIR VALUE 
 (Dollars in Thousands) 

       December 31, 2024    December 31, 2023  
 Equity securities  $1,954  $38,038 
 Equity derivatives   73   1,447 
 Restricted equity securities   10,632   2,054 
 Corporate bonds and redeemable preferred stock   531   506 
 Notes receivable   11,250   9,541 
 Interests in SPVs   1,565   12,609 
 CREO JV   6,432   4,783 
 U.S. Insurance JV   2,825   3,107 
 Residential loans   -   132 
 Other investments, at fair value  $35,262  $72,217 

   As of  December 31, 2024, $470 of unrestricted equity securities represented long positions related to share forward arrangements (“SFAs”) entered into by the Company. As of  December 31, 2023, $26,079 of unrestricted equity securities, $1,447 of equity derivatives, and $6,278 of the fair value receivables represented long positions related to SFAs entered into by the Company.
    
   Notes receivable include convertible and non-convertible notes receivable from various counterparties in connection with the Company's advisory business and SF