Company: COHN
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001437749-25-033482
Chunk: 123

Company: Cohen & Co Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Item 1
Chunk 123
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 by other asset managers and, as a result, this measure may not be comparable to similar measures presented by other asset managers.  This definition of AUM is not necessarily identical to the definitions of AUM that may be used in our management agreements.

      As of September 30, 

      As of December 31, 

      2025 

      2024 

      2024 

      2023 

      Company-sponsored CDOs 
      
     $
     103,883

     $
     975,308

     $
     965,887

     $
     995,191

      Other Investment Vehicles (1) 

     1,270,465

     1,390,217

     1,339,310

     1,362,484

      Assets under management (2) 
      
     $
     1,374,348

     $
     2,365,525

     $
     2,305,197

     $
     2,357,675

(1) Other Investment Vehicles include any Investment Vehicle that is not a Company-sponsored CDO.

(2) In some cases, accounts we manage may employ leverage.  Further, in some cases, our fees are based on gross assets and in other cases, our fees are based on net assets.  Finally, in the case of the SPAC Series Funds there are no management fees earned.  AUM included herein is calculated using either gross or net assets of each managed account or CDO based on whichever serves as the basis for our management fees. In the case where no management fees are earned, the net assets are included.  

Asset management fees decreased by $199, or 9%, to $1,948 for the three months ended September 30, 2025, as compared to $2,147 for the three months ended September 30, 2024, as discussed in more detail below. The following table provides a more detailed comparison of the two periods.

ASSET MANAGEMENT

﻿ 

      Three Months Ended September 30, 

      2025 

      2024 

      Change 

      CDOs 
      
     $
     159

     $
     392

     $
     (233
     )

      Other 

     1,789

     1,755

     34

      Total 
      
     $
     1,948