Company: COHN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001437749-25-007158
Chunk: 2819

Company: Cohen & Co Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 6
Chunk 2819
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 purchased:                 
 Corporate bonds and redeemable preferred stock  $24,355  $-  $24,355  $- 
 Derivatives   6,719   -   6,719   - 
 Equity securities   393   393   -   - 
 U.S. Treasury securities   34,284   34,284   -   - 
 Total trading securities sold, not yet purchased  $65,751  $34,677  $31,074  $- 
 ﻿                 
 Other investments, sold not yet purchased:                 
 Equity securities  $347  $347  $-  $- 
 Share forward liabilities   24,395   -   24,395   - 
 Total other investments, sold not yet purchased  $24,742  $347  $24,395  $- 

      (1)   As a practical expedient, the Company uses NAV (or its equivalent) to measure the fair value of its investments in the U.S. Insurance JV and the CREO JV. The U.S. Insurance JV invests in USD denominated debt issued by small insurance and reinsurance companies.  The CREO JV invests in primarily multi-family commercial real estate mortgage-backed loans. According to ASC 820, these investments are not categorized within the valuation hierarchy.   

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        F-
       29

   The following provides a brief description of the types of financial instruments the Company holds, the methodology for estimating fair value, and the level within the valuation hierarchy of the estimate. The discussion that follows applies regardless of whether the instrument is included in investments-trading; other investments sold, not yet purchased; other investments, at fair value; or trading securities sold, not yet purchased.
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   Corporate Bonds and Redeemable Preferred Stock: The Company uses recently executed transactions or third-party quotations from independent pricing services to arrive at the fair value of its investments in corporate bonds and redeemable preferred stock. These valuations are based on a market approach. The Company generally classifies the fair value of these bonds within level 2 of the valuation hierarchy. In instances where the fair values of securities are based on quoted prices in active markets (for example with redeemable preferred stock), the Company classifies the fair value of