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0001284812false00012848122026-07-162026-07-16

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_____________________
FORM 8-K
_____________________

CURRENT REPORT
Pursuant to section 13 or 15(d) of
The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): July 16, 2026
_____________________
Cohen & Steers, Inc.
(Exact Name of Registrant as Specified in Charter)
_____________________
Delaware 001-32236 14-1904657
(State or Other Jurisdiction
of Incorporation)		 (Commission File Number)
 (IRS Employer
Identification No.)
1166 Avenue of the Americas
New York, NY 10036
(Address of principal executive offices and Zip Code)
(212) 832-3232
(Registrant's telephone number, including area code)
_________________________________________
(Former name or former address, if changed since last report)
  ________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading Symbol(s) Name of each exchange on which registered
Common Stock, $0.01 par value CNS New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 2.02. Results of Operations and Financial Condition.
On July 16, 2026, Cohen & Steers, Inc. (the Company) reported, among other things, the Company’s results for the quarter ended June 30, 2026. Copies of the press release announcing the availability of the Company’s results and the full earnings release are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively.
The information contained under Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, is being furnished and, as a result, such information shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities of that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.


Item 9.01. Financial Statements and Exhibits.
(d) Exhibits. The exhibits listed on the exhibit index accompanying this Current Report on Form 8-K are furnished herewith.




EXHIBIT INDEX
Exhibit No. Description
99.1 
99.2 
104  Cover Page Interactive Data File (embedded within the Inline XBRL document)




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Cohen & Steers, Inc.
(Registrant)

Date: July 16, 2026
   By: /s/ Amit Muni
Name: Amit Muni
Title: Executive Vice President & Chief Financial Officer



EX-99.1 2 cns-earningsannouncement63.htm CNS EARNINGS ANNOUNCEMENT Document

Cohen & Steers, Inc.
1166 Avenue of the Americas
New York, NY 10036-2708
Tel (212) 832-3232                


cnslogob.jpg



COHEN & STEERS REPORTS RESULTS FOR SECOND QUARTER 2026
     
New York, NY, July 16, 2026—Cohen & Steers, Inc. (NYSE: CNS) today reported its results for the quarter ended June 30, 2026. The earnings release along with the accompanying earnings presentation can be viewed at Cohen & Steers Reports Results for Second Quarter 2026 and on the company’s website at www.cohenandsteers.com under "Company—Investor Relations—Earnings Archive."

Conference Call and Webcast Information

The company will host a conference call tomorrow, Friday, July 17, 2026, at 10:00 a.m. (ET) to discuss these results via webcast and telephone. Hosting the call will be Chief Executive Officer, Joseph Harvey, Chief Financial Officer, Amit Muni, and President and Chief Investment Officer, Jon Cheigh.

The earnings presentation will be displayed through the live webcast and referenced by management during the conference call.

Investors and analysts can access the live conference call by dialing 800-715-9871 (U.S.) or +1- 646-307-1963 (international); passcode: 8494569. Participants should plan to register at least 10 minutes before the conference call begins. Internet access to the live, listen-only webcast will be available on the company’s website at www.cohenandsteers.com under “Company—Investor Relations" under "Financials.” The accompanying presentation that will be used during the conference call will be available prior to the call on the company's website at the same page.

A replay of the call will be available for two weeks starting approximately two hours after the conference call concludes and can be accessed at 800-770-2030 (U.S.) or +1-609-800-9909 (international); passcode: 8494569. A replay of the webcast will be archived on the website for one month at www.cohenandsteers.com under “Company—Investor Relations” under “Financials.”

About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.



Contact:
Brian Meta
Senior Vice President
Head of Investor Relations and FP&A
Tel (212) 796-9353
EX-99.2 3 cns-earningsreleasex63026e.htm CNS EARNINGS RELEASE Document

cnslogoa.jpg                                 



COHEN & STEERS REPORTS RESULTS FOR SECOND QUARTER 2026


Strong AUM growth, positive net inflows and continued progress on strategic initiatives

•Diluted EPS of $0.95; $0.85, as adjusted
•AUM reaches $100.1 billion at quarter end
•Broad based net inflows of $1.3 billion, our strongest quarter since Q4 2021
•Active ETFs reach over $1 billion in AUM reflecting continued momentum with six ETFs

NEW YORK, NY, July 16, 2026—Cohen & Steers, Inc. (NYSE: CNS) today reported its results for the quarter ended June 30, 2026.
Joseph M. Harvey, Chief Executive Officer: “With $1.3 billion in net flows, we delivered our fourth consecutive quarter of organic growth, which is our longest streak of consecutive quarters of organic growth since 2022. We are beginning to see the benefits of improving market conditions for our investment strategies and the investments we’ve made in the business to expand our capabilities." Mr. Harvey continued, "In June, we celebrated 40 years of real assets leadership. As the secular case for real assets continues to grow and the market environment continues to favor our asset classes, we look forward to our next phase of growth and delivering results for our investors and shareholders.”
Operating and financial highlights
As of and for the quarters ended
June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025
Operating results (in billions):
AUM $ 100.1  $ 93.1  $ 90.5  $ 90.9  $ 88.9 
Net inflows (outflows) $ 1.3  $ 0.5  $ 1.2  $ 0.2  $ (0.1)
Average AUM $ 99.0  $ 94.4  $ 90.8  $ 89.7  $ 87.2 
GAAP results
Revenue (in millions)
$ 152.7  $ 145.6  $ 143.8  $ 141.7  $ 136.1 
Net income (in millions)
$ 49.3  $ 42.4  $ 34.9  $ 41.7  $ 36.8 
Diluted EPS $ 0.95  $ 0.82  $ 0.68  $ 0.81  $ 0.72 
Operating margin 34.6  % 34.4  % 28.0  % 34.5  % 31.8  %
Fee Rate (ex. performance fees)
58.5 bps 59.0 bps 58.7 bps 59.1 bps 59.1 bps
As Adjusted results (non-GAAP)
Revenue (in millions)
$ 151.8  $ 144.3  $ 143.8  $ 140.9  $ 135.3 
Net income (in millions)
$ 44.0  $ 40.7  $ 41.7  $ 41.7  $ 37.3 
Diluted EPS $ 0.85  $ 0.79  $ 0.81  $ 0.81  $ 0.73 
Operating margin 36.3  % 35.1  % 36.4  % 36.1  % 33.6  %
Fee Rate (ex. performance fees)
58.1 bps 58.4 bps 58.6 bps 58.7 bps 58.7 bps
1

Business developments:
•During the quarter, we made significant progress in scaling our ETF franchise, an important component of our long-term growth strategy
–In June, our active ETF platform surpassed $1 billion in AUM. This milestone demonstrates the increasing scale of our ETF platform, expansion of our distribution reach and positions ETFs as a meaningful contributor to future organic growth.
–We successfully converted the Cohen & Steers Future of Energy Fund (MLOIX) into the Cohen & Steers Future of Energy Active ETF (CSEN), which is now listed on Nasdaq.
–We filed a registration statement with the SEC for the Cohen & Steers Real Assets Active ETF, which is expected to launch in the third quarter of 2026. Upon launch, the fund would expand our ETF lineup to seven offerings, further broadening investor access to our core real assets capabilities and supporting the continued growth of our business.
•Our European listed fund platform has surpassed $2 billion in AUM, reflecting the continued momentum of our international growth strategy. Consistent with our initiative to broaden these offerings, in May we announced that three of our European listed funds focused on global listed infrastructure, global real estate, and real assets received regulatory approval for marketing and distribution to eligible investors in South Africa. These approvals expand access to our real assets capabilities, deepen our international distribution footprint, and position the firm to capture additional opportunities for future AUM growth.
•In June, we announced a rights offering for Cohen & Steers Quality Income Realty Fund, Inc. (RQI), which closed on July 15, 2026, raising approximately $220 million of new capital, including leverage, for the fund. This successful offering enhances the fund's capital base, providing additional capacity to pursue attractive investment opportunities and support future income and value creation.
•The Cohen & Steers Income Opportunities REIT, Inc. (CNSREIT) continued to execute on its growth strategy during the second quarter, acquiring three properties, bringing its portfolio to 11 assets. These acquisitions reflect the fund's ability to source and deploy capital into attractive opportunities and build scale across the portfolio, positioning CNSREIT to drive long-term income and value creation for investors.
•In May, we appointed Amit Muni as Chief Financial Officer, bringing more than two decades of leadership across public markets, asset and wealth management, and capital markets, with a strong track record of driving strategic growth, executing M&A and financing initiatives, and engaging with the investor community.








2

Quarterly financial highlights
Assets under management (AUM)
AUM at the end of the quarter was $100.1 billion, an increase of 7.5% from $93.1 billion at the end of the first quarter of 2026 due to net inflows of $1.3 billion, primarily in our U.S. mutual funds and SICAVs within the real estate and multi-strategy real asset strategies, as well as continued net inflows into our active ETFs, and market appreciation of $6.4 billion, partially offset by distributions of $768 million.
Revenues
Total revenues increased approximately 5% on both a GAAP and adjusted basis from the first quarter of 2026 due to higher average AUM and one additional day in the current quarter. Total revenues increased approximately 12% on both a GAAP and adjusted basis from the second quarter of 2025 due to higher average AUM.
Expenses
Total operating expenses increased 4.6% from the first quarter of 2026 primarily due to higher employee compensation and benefits, in line with the increase in revenues, as well as an increase in distribution and service fees due to higher average AUM. Adjusted total operating expenses increased 3.3% from the first quarter of 2026 primarily due to higher employee compensation and benefits, in line with the increase in revenues.
Total operating expenses increased 7.7% from the second quarter of 2025 primarily due to higher employee compensation and benefits expenses and general and administrative expenses. Employee compensation and benefits increased primarily due to higher incentive compensation associated with increased revenue. General and administrative expenses increased due to costs associated with the RQI rights offering. Total adjusted operating expenses increased 7.6% from the second quarter of 2025 primarily due to higher employee compensation and benefits, in line with the increase in revenues.

Income Taxes
Our effective income tax rate for the second quarter of 2026 was 25.0%, resulting in income tax expense of $16.4 million. Our as adjusted effective income tax rate for the second quarter of 2026 was 25.5%.
Capital allocation and balance sheet
As of June 30, 2026, cash, cash equivalents, U.S. Treasurys and liquid seed investments were $354.3 million, compared with $342.9 million as of March 31, 2026.
During the quarter, the Board of Directors declared a $0.67 quarterly dividend per share, which was paid on May 21, 2026 to stockholders of record as of the close of business on May 11, 2026.



3

Investment Performance at June 30, 2026 investmentperformance626a.jpg_________________________
(1)    Past performance is no guarantee of future results. Outperformance is determined by comparing the annualized investment performance of each investment strategy to the performance of specified reference benchmarks. Investment performance in excess of the performance of the benchmark is considered outperformance. The investment performance calculation of each investment strategy is based on all active accounts and investment models pursuing similar investment objectives. For accounts, actual investment performance is measured gross of fees and net of withholding taxes. For investment models, for which actual investment performance does not exist, the investment performance of a composite of accounts pursuing comparable investment objectives is used as a proxy for actual investment performance. The performance of the specified reference benchmark for each account and investment model is measured net of withholding taxes, where applicable. This is not investment advice and may not be construed as sales or marketing material for any financial product or service sponsored or provided by Cohen & Steers.
(2)    © 2026 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar calculates its ratings based on a risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars and the bottom 10% receive one star. Past performance is no guarantee of future results. Based on independent rating by Morningstar, Inc. of investment performance of each Cohen & Steers-sponsored open-end U.S.-registered mutual fund for all share classes for the overall period at June 30, 2026. Overall Morningstar rating is a weighted average based on the 3-year, 5-year and 10-year Morningstar rating. Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages. This is not investment advice and may not be construed as sales or marketing material for any financial product or service sponsored or provided by Cohen & Steers.











4

Conference Call and Webcast Information
Cohen & Steers will host a conference call and webcast on Friday, July 17, 2026 at 10:00 a.m. (ET) to discuss the company's second quarter results. Investors and analysts can access the live conference call by dialing 800-715-9871 (U.S.) or +1-646-307-1963 (international); passcode: 8494569. Participants should plan to register at least 10 minutes before the conference call begins. Internet access to the live, listen-only webcast will be available on the company's website at www.cohenandsteers.com under “Company—Investor Relations" under "Financials.” The accompanying presentation that will be used during the conference call will be available prior to the call on the company's website at the same page.
A replay of the call will be available for two weeks starting approximately two hours after the conference call concludes and can be accessed at 800-770-2030 (U.S.) or +1-609-800-9909 (international); passcode: 8494569. A replay of the webcast will be archived on the website for one month at www.cohenandsteers.com under “Company—Investor Relations" under "Financials.”
About Cohen & Steers
Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong, Tokyo and Singapore.
Forward-Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect the company's current views with respect to, among other things, the company's operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates" or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these forward-looking statements. The company believes that these factors include, but are not limited to, the risks described in the Risk Factors section of the company's Annual Report on Form 10-K for the year ended December 31, 2025 (the Form 10-K), which is accessible on the Securities and Exchange Commission's website at www.sec.gov and on the company's website at www.cohenandsteers.com. These factors are not exhaustive and should be read in conjunction with the other cautionary statements that are included in the company's Form 10-K and other filings with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
# # # #
5

 Cohen & Steers, Inc. and Subsidiaries
 Consolidated Statements of Operations (Unaudited)
 (in thousands, except per share data)
 Three Months Ended
June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025
 Revenue:
 Investment advisory and administration fees $ 144,285  $ 136,826  $ 135,890  $ 133,628  $ 128,545 
 Distribution and service fees 7,919  8,055  7,475  7,513  7,166 
 Other 526  758  438  579  415 
 Total revenue 152,730  145,639  143,803  141,720  136,126 
 Expenses:
 Employee compensation and benefits 61,506  57,702  56,076  57,196  56,640 
 Distribution and service fees 16,890  16,337  25,670  16,329  15,706 
 General and administrative 18,953  18,904  19,212  16,775  18,078 
 Depreciation and amortization 2,606  2,574  2,535  2,519  2,375 
 Total expenses 99,955  95,517  103,493  92,819  92,799 
 Operating income 52,775  50,122  40,310  48,901  43,327 
 Non-operating income (loss):
 Interest and dividend income 5,218  5,307  5,217  5,106  6,315 
 Gain (loss) from investments—net 14,186  1,011  (2,248) 692  6,715 
 Foreign currency gain (loss)—net (166) 759  (991) 859  (2,523)
Total non-operating income (loss) 19,238  7,077  1,978  6,657  10,507 
 Income before provision for income taxes 72,013  57,199  42,288  55,558  53,834 
 Provision for income taxes 16,447  15,979  11,585  13,924  12,062 
 Net income 55,566  41,220  30,703  41,634  41,772 
 Net (income) loss attributable to noncontrolling
 interests		 (6,223) 1,148  4,176  77  (4,923)
 Net income attributable to common stockholders $ 49,343  $ 42,368  $ 34,879  $ 41,711  $ 36,849 
 Earnings per share attributable to common
 stockholders:
 Basic $ 0.96  $ 0.82  $ 0.68  $ 0.81  $ 0.72 
 Diluted $ 0.95  $ 0.82  $ 0.68  $ 0.81  $ 0.72 
 Weighted average shares outstanding:
Basic 51,545  51,441  51,243  51,205  51,165 
Diluted 51,861  51,595  51,639  51,572  51,471 


As Adjusted (non-GAAP)
Revenue $ 151,837  $ 144,264  $ 143,794  $ 140,937  $ 135,320 
Expense $ 96,692  $ 93,610  $ 91,432  $ 90,060  $ 89,862 
Operating income $ 55,145  $ 50,654  $ 52,362  $ 50,877  $ 45,458 
Net income $ 43,968  $ 40,692  $ 41,718  $ 41,720  $ 37,324 
Diluted EPS $ 0.85  $ 0.79  $ 0.81  $ 0.81  $ 0.73 
Operating margin 36.3  % 35.1  % 36.4  % 36.1  % 33.6  %
6

 Cohen & Steers, Inc. and Subsidiaries
 Consolidated Statements of Operations (Unaudited)
 (in thousands, except per share data)
Six Months Ended
June 30,
2026		 June 30,
2025
 Revenue:
 Investment advisory and administration fees $ 281,111  $ 255,316 
 Distribution and service fees 15,974  14,350 
 Other 1,284  927 
 Total revenue 298,369  270,593 
 Expenses:
 Employee compensation and benefits 119,208  111,194 
 Distribution and service fees 33,227  30,895 
 General and administrative 37,857  35,247 
 Depreciation and amortization 5,180  4,732 
 Total expenses 195,472  182,068 
 Operating income 102,897  88,525 
 Non-operating income (loss):
 Interest and dividend income 10,525  11,686 
 Gain (loss) from investments—net 15,197  10,268 
 Foreign currency gain (loss)—net 593  (3,695)
Total non-operating income (loss) 26,315  18,259 
 Income before provision for income taxes 129,212  106,784 
 Provision for income taxes 32,426  21,723 
 Net income 96,786  85,061 
 Net (income) loss attributable to noncontrolling interests (5,075) (8,434)
 Net income attributable to common stockholders $ 91,711  $ 76,627 
 Earnings per share attributable to common stockholders:
 Basic $ 1.78  $ 1.50 
 Diluted $ 1.77  $ 1.49 
 Weighted average shares outstanding:
Basic 51,493  51,112 
Diluted 51,729  51,445 

As Adjusted (non-GAAP)
Revenue $ 296,101  $ 269,110 
Expense $ 190,302  $ 177,206 
Operating income $ 105,799  $ 91,904 
Net income $ 84,660  $ 75,677 
Diluted EPS 1.64  1.47 
Operating margin 35.7  % 34.2  %
7

Cohen & Steers, Inc. and Subsidiaries
Assets Under Management
By Investment Vehicle
(in millions)
 Three Months Ended
June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025
Open-end Funds
Assets under management, beginning of period $ 44,841  $ 43,437  $ 44,421  $ 42,962  $ 42,298 
Inflows 4,275  3,358  3,487  3,148  3,072 
Outflows (2,821) (2,803) (3,474) (2,380) (2,787)
Net inflows (outflows) 1,454  555  13  768  285 
Market appreciation (depreciation) 3,147  1,155  (378) 972  816 
Distributions (449) (306) (535) (305) (437)
Transfers —  —  (84) 24  — 
Total increase (decrease) 4,152  1,404  (984) 1,459  664 
Assets under management, end of period $ 48,993  $ 44,841  $ 43,437  $ 44,421  $ 42,962 
Average assets under management $ 48,111  $ 45,279  $ 43,812  $ 43,633  $ 42,110 
Institutional Accounts
Assets under management, beginning of period $ 36,029  $ 35,060  $ 34,711  $ 34,386  $ 33,886 
Inflows 1,372  1,103  1,790  812  651 
Outflows (1,529) (1,162) (1,109) (1,349) (1,170)
Net inflows (outflows) (157) (59) 681  (537) (519)
Market appreciation (depreciation) 2,801  1,184  (252) 1,054  1,190 
Distributions (150) (156) (164) (168) (171)
Transfers —  —  84  (24) — 
Total increase (decrease) 2,494  969  349  325  500 
Assets under management, end of period $ 38,523  $ 36,029  $ 35,060  $ 34,711  $ 34,386 
Average assets under management $ 38,272  $ 36,714  $ 34,924  $ 34,459  $ 33,844 
Closed-end Funds
Assets under management, beginning of period $ 12,258  $ 12,047  $ 11,765  $ 11,588  $ 11,395 
Inflows 1  1  513  2  103 
Outflows —  —  —  —  — 
Net inflows (outflows) 1  1  513  2  103 
Market appreciation (depreciation) 493  375  (55) 329  244 
Distributions (169) (165) (176) (154) (154)
Total increase (decrease) 325  211  282  177  193 
Assets under management, end of period $ 12,583  $ 12,258  $ 12,047  $ 11,765  $ 11,588 
Average assets under management $ 12,594  $ 12,368  $ 12,015  $ 11,646  $ 11,289 
Total
Assets under management, beginning of period $ 93,128  $ 90,544  $ 90,897  $ 88,936  $ 87,579 
Inflows 5,648  4,462  5,790  3,962  3,826 
Outflows (4,350) (3,965) (4,583) (3,729) (3,957)
Net inflows (outflows) 1,298  497  1,207  233  (131)
Market appreciation (depreciation) 6,441  2,714  (685) 2,355  2,250 
Distributions (768) (627) (875) (627) (762)
Total increase (decrease) 6,971  2,584  (353) 1,961  1,357 
Assets under management, end of period $ 100,099  $ 93,128  $ 90,544  $ 90,897  $ 88,936 
Average assets under management $ 98,977  $ 94,361  $ 90,751  $ 89,738  $ 87,243 

8

Cohen & Steers, Inc. and Subsidiaries
Assets Under Management - Institutional Accounts
By Account Type
(in millions)
 Three Months Ended
June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025
Advisory
Assets under management, beginning of period $ 21,679  $ 20,843  $ 20,208  $ 20,045  $ 19,703 
Inflows 592  708  1,055  515  436 
Outflows (856) (498) (404) (970) (848)
Net inflows (outflows) (264) 210  651  (455) (412)
Market appreciation (depreciation) 1,490  626  (100) 618  754 
Transfers —  —  84  —  — 
Total increase (decrease) 1,226  836  635  163  342 
Assets under management, end of period $ 22,905  $ 21,679  $ 20,843  $ 20,208  $ 20,045 
Average assets under management $ 22,752  $ 21,986  $ 20,513  $ 20,089  $ 19,789 
Subadvisory
Assets under management, beginning of period $ 14,350  $ 14,217  $ 14,503  $ 14,341  $ 14,183 
Inflows 780  395  735  297  215 
Outflows (673) (664) (705) (379) (322)
Net inflows (outflows) 107  (269) 30  (82) (107)
Market appreciation (depreciation) 1,311  558  (152) 436  436 
Distributions (150) (156) (164) (168) (171)
Transfers —  —  —  (24) — 
Total increase (decrease) 1,268  133  (286) 162  158 
Assets under management, end of period $ 15,618  $ 14,350  $ 14,217  $ 14,503  $ 14,341 
Average assets under management $ 15,520  $ 14,728  $ 14,411  $ 14,370  $ 14,055 
Total Institutional Accounts
Assets under management, beginning of period $ 36,029  $ 35,060  $ 34,711  $ 34,386  $ 33,886 
Inflows 1,372  1,103  1,790  812  651 
Outflows (1,529) (1,162) (1,109) (1,349) (1,170)
Net inflows (outflows) (157) (59) 681  (537) (519)
Market appreciation (depreciation) 2,801  1,184  (252) 1,054  1,190 
Distributions (150) (156) (164) (168) (171)
Transfers —  —  84  (24) — 
Total increase (decrease) 2,494  969  349  325  500 
Assets under management, end of period $ 38,523  $ 36,029  $ 35,060  $ 34,711  $ 34,386 
Average assets under management $ 38,272  $ 36,714  $ 34,924  $ 34,459  $ 33,844 
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Cohen & Steers, Inc. and Subsidiaries
Assets Under Management
By Investment Strategy
(in millions)
 Three Months Ended
June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025
U.S. Real Estate
Assets under management, beginning of period $ 44,569  $ 43,503  $ 44,153  $ 43,972  $ 43,591 
Inflows 3,063  2,177  2,747  2,084  1,909 
Outflows (2,180) (2,197) (1,953) (2,305) (1,560)
Net inflows (outflows) 883  (20) 794  (221) 349 
Market appreciation (depreciation) 4,495  1,457  (959) 782  466 
Distributions (397) (371) (453) (380) (434)
Transfers —  —  (32) —  — 
Total increase (decrease) 4,981  1,066  (650) 181  381 
Assets under management, end of period $ 49,550  $ 44,569  $ 43,503  $ 44,153  $ 43,972 
Average assets under management $ 48,506  $ 45,271  $ 43,748  $ 43,998  $ 43,172 
Preferred Securities
Assets under management, beginning of period $ 17,848  $ 18,081  $ 18,443  $ 17,902  $ 18,207 
Inflows 953  850  956  886  738 
Outflows (772) (717) (1,290) (756) (1,218)
Net inflows (outflows) 181  133  (334) 130  (480)
Market appreciation (depreciation) 532  (183) 156  595  351 
Distributions (190) (183) (184) (184) (176)
Total increase (decrease) 523  (233) (362) 541  (305)
Assets under management, end of period $ 18,371  $ 17,848  $ 18,081  $ 18,443  $ 17,902 
Average assets under management $ 18,265  $ 18,182  $ 18,242  $ 18,244  $ 17,792 
Global/International Real Estate
Assets under management, beginning of period $ 14,361  $ 14,273  $ 14,520  $ 13,980  $ 13,129 
Inflows 493  632  527  520  403 
Outflows (896) (586) (677) (339) (426)
Net inflows (outflows) (403) 46  (150) 181  (23)
Market appreciation (depreciation) 1,205  51  (68) 367  915 
Distributions (47) (9) (61) (8) (41)
Transfers —  —  32  —  — 
Total increase (decrease) 755  88  (247) 540  851 
Assets under management, end of period $ 15,116  $ 14,361  $ 14,273  $ 14,520  $ 13,980 
Average assets under management $ 15,199  $ 15,020  $ 14,343  $ 14,146  $ 13,521 

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Cohen & Steers, Inc. and Subsidiaries
Assets Under Management
By Investment Strategy - continued
(in millions)
 Three Months Ended
June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025
Global Listed Infrastructure
Assets under management, beginning of period $ 12,589  $ 11,456  $ 10,521  $ 10,052  $ 9,710 
Inflows 442  395  1,312  209  460 
Outflows (285) (299) (380) (152) (439)
Net inflows (outflows) 157  96  932  57  21 
Market appreciation (depreciation) 245  1,091  96  458  403 
Distributions (98) (54) (93) (46) (82)
Transfers (189) —  —  —  — 
Total increase (decrease) 115  1,133  935  469  342 
Assets under management, end of period $ 12,704  $ 12,589  $ 11,456  $ 10,521  $ 10,052 
Average assets under management $ 12,828  $ 12,286  $ 11,149  $ 10,228  $ 9,829 
Other
Assets under management, beginning of period $ 3,761  $ 3,231  $ 3,260  $ 3,030  $ 2,942 
Inflows 697  408  248  263  316 
Outflows (217) (166) (283) (177) (314)
Net inflows (outflows) 480  242  (35) 86  2 
Market appreciation (depreciation) (36) 298  90  153  115 
Distributions (36) (10) (84) (9) (29)
Transfers 189  —  —  —  — 
Total increase (decrease) 597  530  (29) 230  88 
Assets under management, end of period $ 4,358  $ 3,761  $ 3,231  $ 3,260  $ 3,030 
Average assets under management $ 4,179  $ 3,602  $ 3,269  $ 3,122  $ 2,929 
Total
Assets under management, beginning of period $ 93,128  $ 90,544  $ 90,897  $ 88,936  $ 87,579 
Inflows 5,648  4,462  5,790  3,962  3,826 
Outflows (4,350) (3,965) (4,583) (3,729) (3,957)
Net inflows (outflows) 1,298  497  1,207  233  (131)
Market appreciation (depreciation) 6,441  2,714  (685) 2,355  2,250 
Distributions (768) (627) (875) (627) (762)
Total increase (decrease) 6,971  2,584  (353) 1,961  1,357 
Assets under management, end of period $ 100,099  $ 93,128  $ 90,544  $ 90,897  $ 88,936 
Average assets under management $ 98,977  $ 94,361  $ 90,751  $ 89,738  $ 87,243 

11

Reconciliations of U.S. GAAP to As Adjusted Financial Results
Management believes that use of the following as adjusted (non-GAAP) financial results provides greater transparency into the company’s operating performance. In addition, these as adjusted financial results are used to prepare the company's internal management reports that are used in evaluating its business. While management believes that these as adjusted financial results are useful in evaluating operating performance, this information should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with U.S. GAAP.
Net Income Attributable to Common Stockholders and Diluted Earnings per Share
 Three Months Ended Six Months Ended
(in thousands, except per share data) June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025		 June 30,
2026		 June 30,
2025
Net income attributable to common stockholders, U.S. GAAP $ 49,343  $ 42,368  $ 34,879  $ 41,711  $ 36,849  $ 91,711  $ 76,627 
Seed investments—net (1)
(8,974) (3,299) (1,498) (1,320) (3,523) (12,273) (3,573)
Accelerated vesting of restricted stock units
 771  (4) (77) 1,142  1,835  767  2,204 
Fund launch and rights offering costs 1,264  335  10,814  650  —  1,599  — 
Other non-recurring expenses (2)
—  —  —  —  —  —  616 
Foreign currency (gain) loss—net
 166  (759) 422  (677) 2,742  (593) 3,711 
Tax effects of adjustments above
 1,928  1,300  (2,062) (132) (219) 3,228  (657)
Tax effects of discrete tax items (3)
(530) 751  (760) 346  (360) 221  (3,251)
Net income attributable to common stockholders, as adjusted $ 43,968  $ 40,692  $ 41,718  $ 41,720  $ 37,324  $ 84,660  $ 75,677 
Diluted weighted average shares outstanding 51,861  51,595  51,639  51,572  51,471  51,729  51,445 
Diluted earnings per share, U.S. GAAP $ 0.95  $ 0.82  $ 0.68  $ 0.81  $ 0.72  $ 1.77  $ 1.49 
Seed investments—net (1)
(0.17) (0.06) (0.03) (0.03) (0.07) (0.24) (0.07)
Accelerated vesting of restricted stock units
 0.02  —  * —  * 0.02  0.04  0.02  0.04 
Fund launch and rights offering costs 0.02  0.01  0.21  0.01  —  0.03  — 
Other non-recurring expenses (2)
—  —  —  —  —  —  0.01 
Foreign currency (gain) loss—net
 —  * (0.02) 0.01  (0.01) 0.05  (0.01) 0.07 
Tax effects of adjustments above
 0.04  0.03  (0.04) —  * —  * 0.06  (0.01)
Tax effects of discrete tax items (3)
(0.01) 0.01  (0.02) 0.01  (0.01) 0.01  (0.06)
Diluted earnings per share, as adjusted $ 0.85  $ 0.79  $ 0.81  $ 0.81  $ 0.73  $ 1.64  $ 1.47 
_________________________
* Amounts round to less than $0.01 per share.
(1)Represents the impact of consolidated funds and the net effect of corporate seed investment performance.
(2)Represents the reimbursement of filing fees paid by certain members of senior leadership for the six months ended June 30, 2025.
(3)Includes excess tax benefits/deficiencies related to the vesting and delivery of restricted stock units and unrecognized tax benefit adjustments.















12

Reconciliations of U.S. GAAP to As Adjusted Financial Results
Revenue, Expenses, Operating Income and Operating Margin
(in thousands, except percentages)  Three Months Ended Six Months Ended
June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025		 June 30,
2026		 June 30,
2025
Revenue, U.S. GAAP $ 152,730  $ 145,639  $ 143,803  $ 141,720  $ 136,126  $ 298,369  $ 270,593 
Fund related amounts (1)
(893) (1,375) (9) (783) (806) (2,268) (1,483)
Revenue, as adjusted $ 151,837  $ 144,264  $ 143,794  $ 140,937  $ 135,320  $ 296,101  $ 269,110 
Expenses, U.S. GAAP $ 99,955  $ 95,517  $ 103,493  $ 92,819  $ 92,799  $ 195,472  $ 182,068 
Fund related amounts (1)
(1,228) (1,576) (1,324) (967) (1,102) (2,804) (2,042)
Accelerated vesting of restricted stock units
 (771) 4  77  (1,142) (1,835) (767) (2,204)
Fund launch and rights offering costs (1,264) (335) (10,814) (650) —  (1,599) — 
Other non-recurring expenses (2)
—  —  —  —  —  —  (616)
Expenses, as adjusted $ 96,692  $ 93,610  $ 91,432  $ 90,060  $ 89,862  $ 190,302  $ 177,206 
Operating income, U.S. GAAP $ 52,775  $ 50,122  $ 40,310  $ 48,901  $ 43,327  $ 102,897  $ 88,525 
Fund related amounts (1)
335  201  1,315  184  296  536  559 
Accelerated vesting of restricted stock units
 771  (4) (77) 1,142  1,835  767  2,204 
Fund launch and rights offering costs 1,264  335  10,814  650  —  1,599  — 
Other non-recurring expenses (2)
—  —  —  —  —  —  616 
Operating income, as adjusted $ 55,145  $ 50,654  $ 52,362  $ 50,877  $ 45,458  $ 105,799  $ 91,904 
Operating margin, U.S. GAAP 34.6  % 34.4  % 28.0  % 34.5  % 31.8  % 34.5  % 32.7  %
Operating margin, as adjusted 36.3  % 35.1  % 36.4  % 36.1  % 33.6  % 35.7  % 34.2  %
_________________________
(1)Represents the impact of consolidated funds and expenses incurred on behalf of certain company-sponsored funds.
(2)Represents the reimbursement of filing fees paid by certain members of senior leadership for the six months ended June 30, 2025.


Non-operating Income (Loss)
(in thousands)  Three Months Ended Six Months Ended
June 30,
2026		 March 31,
2026		 December 31,
2025		 September 30,
2025		 June 30,
2025		 June 30,
2026		 June 30,
2025
Non-operating income (loss), U.S. GAAP $ 19,238  $ 7,077  $ 1,978  $ 6,657  $ 10,507  $ 26,315  $ 18,259 
Seed investments—net (1)
(15,532) (2,352) 1,363  (1,427) (8,742) (17,884) (12,566)
Foreign currency (gain) loss—net
 166  (759) 422  (677) 2,742  (593) 3,711 
Non-operating income (loss), as adjusted $ 3,872  $ 3,966  $ 3,763  $ 4,553  $ 4,507  $ 7,838  $ 9,404 
_________________________
(1)Represents the impact of consolidated funds and the net effect of corporate seed investment performance.




Contact:
Brian Meta
Senior Vice President
Head of Investor Relations and FP&A
Tel (212) 796-9353

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