Company: CNS
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001284812-25-000299
Chunk: 54

Company: COHEN & STEERS, INC.
Filing Date: 2025-10-31
Form: 10-Q
Item: Item 8
Chunk 54
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 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.

10

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

The following tables present fair value measurements:September 30, 2025(in thousands)Level 1Level 2Level 3Investments Measured at NAVTotalCash equivalents$56,015 $— $— $— $56,015 Equity investments at fair value:Equity securities$87,055 $81,117 $— $137 $168,309 Limited partnership interests— — 45,141 4,710 49,851 Total87,055 81,117 45,141 4,847 218,160 Trading investments:Fixed income— 197,624 — — 197,624 Equity method investments— — — 9 9 Total investments$87,055 $278,741 $45,141 $4,856 $415,793 Derivatives - assets:Total return swaps$— $83 $— $— $83 Forward contracts - foreign exchange— 250 — — 250 Total$— $333 $— $— $333 Derivatives - liabilities:Total return swaps$— $2,547 $— $— $2,547 Forward contracts - foreign exchange— 119 — — 119 Total$— $2,666 $— $— $2,666 December 31, 2024(in thousands)Level 1Level 2Level 3Investments Measured at NAVTotalCash equivalents$147,832 $— $— $— $147,832 Equity investments at fair value:Equity securities$102,744 $71,534 $— $133 $174,411 Limited partnership interests— — 32,552 1,448 34,000 Total102,744 71,534 32,552 1,581 208,411 Trading investments:Fixed income—