Company: COHN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033482
Chunk: 10

Company: Cohen & Co Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 10
---
 base and incentive management fees.
    
   Principal Investing: The Company’s Principal Investing business segment is comprised of investments that the Company holds related to its SPAC franchise and other investments the Company has made for the purpose of earning an investment return rather than investments made to support the Company’s trading and other Capital Markets business segment activities.  These investments are included in the Company’s other investments, at fair value; other investments sold, not yet purchased; and investments in equity method affiliates in the Company’s consolidated balance sheets.

       10

   The Company generates its revenue by business segment primarily through the following activities.
    
   Capital Markets 
    
     ●   Trading activities of the Company, which include execution and brokerage services, riskless trading activities as well as gains and losses (unrealized and realized) and income and expense earned on securities and derivatives classified as trading; 
  ●   Revenue earned on the Company’s gestation repo financing program;  
  ●   New issue and advisory revenue comprised of (a) revenue from advisory services, (b) underwriting, and (c) revenue associated with origination, arranging and placing the issuance of newly created financial instruments; and  
 ● Gains and losses (unrealized and realized) and income and expense earned on securities classified as other investments, at fair value and other investments, sold not yet purchased, received or acquired as part of CCM's activities.

   Asset Management 
    
     ●   Asset management fees for the Company’s on-going asset management services provided to certain Investment Vehicles, which  may include fees both senior and subordinate to the securities in the Investment Vehicle, and incentive management fees earned based on the performance of the various Investment Vehicles. 

   Principal Investing 
    
     ●  Gains and losses (unrealized and realized) and income and expense earned on securities classified as other investments, at fair value and other investments sold, not yet purchased, which were not acquired as part of the CCM business; and
  ●  Income and loss earned on equity method investments.

   2. BASIS OF PRESENTATION 
    
   The financial statements of the Company included herein were prepared in conformity with U.S. GAAP for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The