owns a boat

to have a small penis

Liz: I found out Bill has a small penis.

Brittany: How do you know? He doesnt own a porsche or anything.

Liz: I was at the dock the other day and I saw that he owns a boat.

owned your boat

A phrase used when somone gets owned.

Person one: "Aww man, the person in front of me got the last ice cream cone."
Person Two: "Owned your boat!"

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Don't float your own boat

Someone who gives themselves a compliment, often cocky.

Eric: "I am the best at hockey"
Ann: "Don't float your own boat"

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Co-own a boat

When two heterosexual males come to an agreement to have sex with each other if no other options are available. It's not gay if it's between you and the sea.

O wow, nice boat! Thanks I co-own a boat with my other heterosexual male friend 😉