BlackRock Fund Advisors’s Cowen Inc. Class A Common Stock COWN Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q4	$15.4M	Buy	995,660 +195,573	+24%	+$2.81M	﹤0.01%	2328
2016 Q3	$11.6M	Buy	800,087 +47,866	+6%	+$634K	﹤0.01%	2373
2016 Q2	$8.91M	Sell	752,221 -21,077	-3%	-$287K	﹤0.01%	2477
2016 Q1	$11.8M	Sell	773,298 -169,053	-18%	-$2.21M	﹤0.01%	2271
2015 Q4	$14.4M	Buy	942,351 +13,189	+1%	+$228K	﹤0.01%	2233
2015 Q3	$16.9M	Sell	929,162 -2,420	-0.3%	-$53.3K	﹤0.01%	2099
2015 Q2	$23.8M	Sell	931,582 -136,519	-13%	-$3.2M	0.01%	2000
2015 Q1	$22.2M	Buy	1,068,101 +282,724	+36%	+$5.48M	0.01%	2016
2014 Q4	$15.1M	Buy	785,377 +103,602	+15%	+$1.72M	﹤0.01%	2227
2014 Q3	$10.2M	Sell	681,775 -32,188	-5%	-$527K	﹤0.01%	2338
2014 Q2	$12.1M	Buy	713,963 +37,856	+6%	+$624K	﹤0.01%	2302
2014 Q1	$11.9M	Buy	676,107 +3,243	+0.5%	+$53.4K	﹤0.01%	2296
2013 Q4	$10.5M	Sell	672,864 -25,653	-4%	-$393K	﹤0.01%	2359
2013 Q3	$9.61M	Buy	698,517 +74,686	+12%	+$997K	﹤0.01%	2392
2013 Q2	$7.21M	Buy	+623,831	New	+$7.03M	﹤0.01%	2464