Company: CNS
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001284812-25-000255
Chunk: 50

Company: COHEN & STEERS, INC.
Filing Date: 2025-08-01
Form: 10-Q
Item: Item 8
Chunk 50
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 tables summarize revenue recognized from contracts with customers by client domicile and by investment vehicle:Three Months Ended June 30,Six Months Ended June 30,(in thousands)2025202420252024Client domicile:North America$118,644 $106,059 $235,924 $212,947 Japan7,595 7,533 15,402 15,321 Europe, Middle East and Africa5,601 4,544 10,791 8,927 Asia Pacific excluding Japan4,286 3,585 8,476 7,236 Total$136,126 $121,721 $270,593 $244,431 Three Months Ended June 30,Six Months Ended June 30,(in thousands)2025202420252024Investment vehicle:Open-end funds$78,194 $67,445 $155,548 $135,597 Institutional accounts32,854 30,179 65,021 60,531 Closed-end funds25,078 24,097 50,024 48,303 Total$136,126 $121,721 $270,593 $244,431 

4. Investments

The following table summarizes the Company's investments:(in thousands)June 30, 2025December 31, 2024Equity investments at fair value$222,317 $208,411 Trading134,746 126,953 Equity method567 13 Total investments$357,630 $335,377  The Company evaluates its financial interests in seed investments to determine whether to apply the Variable Interest Entity (VIE) model or the Voting Interest Entity model. As part of this assessment, the Company determines whether it is the primary beneficiary of any identified VIEs by analyzing its economic interests in those entities. As of June 30, 2025 and December 31, 2024, the Company's investments in VIEs for which it is not the primary beneficiary totaled $11.3 million and $4.8 million, respectively. Receivables from these VIEs of $0.7 million and $0.6 million at June 30, 2025 and December 31, 2024, respectively, were recorded in accounts receivable on the Company's condensed consolidated statements of financial condition. Liabilities related to these VIEs were $0.9 million at both June