Company: CNS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001284812-25-000255
Chunk: 19

Company: COHEN & STEERS, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 1
Chunk 19
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 accrued expenses on the Company's condensed consolidated statements of financial condition. The Company’s maximum exposure to loss related to these VIEs is limited to its investments and uncollected receivables.

9

COHEN & STEERS, INC. AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS—(Continued)(UNAUDITED)

The following table summarizes gain (loss) from investments—net: Three Months Ended June 30,Six Months Ended June 30,(in thousands)2025202420252024Net realized gains (losses) during the period$278 $(147)$1,405 $(2,373)Net unrealized gains (losses) during the period on investmentsstill held at the end of the period6,437 (1,871)8,863 1,339 Gain (loss) from investments—net$6,715 $(2,018)$10,268 $(1,034)

5. Fair Value

ASC Topic 820, Fair Value Measurement specifies a hierarchy of valuation classifications based on whether the inputs to the valuation techniques used in each valuation classification are observable or unobservable. These classifications are summarized in the three broad levels listed below:•Level 1—Unadjusted quoted prices for identical instruments in active markets.•Level 2—Quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable.•Level 3—Valuations derived from valuation techniques in which significant inputs or significant value drivers are unobservable.These levels are not necessarily an indication of the risk or liquidity associated with the investments.The following tables present fair value measurements:June 30, 2025(in thousands)Level 1Level 2Level 3Investments Measured at NAVTotalCash equivalents$58,340 $— $— $— $58,340 Equity investments at fair value:Equity securities$98,143 $80,247 $— $134 $178,524 Limited partnership interests— — 39,247 4,546 43,793 Total98,143 80,247 39,247 4,680 222,317 Trading investments:Fixed income— 134,746 — — 134,746 Equity method investments— — — 567