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Cowen and Company Portfolio holdings

AUM $2.97B
1-Year Est. Return 105.26%
This Fund
S&P 500
This Quarter Est. Return
-16.31%
1 Year Est. Return
+105.26%
3 Year Est. Return
+120.05%
5 Year Est. Return
+670.56%
10 Year Est. Return
–
AUM
$435M
AUM Growth
-$716M
Cap. Flow
-$763M
Cap. Flow %
-175.1%
Top 10 Hldgs %
44.16%
Holding
647
New
200
Increased
86
Reduced
96
Closed
246

Top Buys

Rank Stock Value
1
XOM icon
ExxonMobil
XOM
+$28M
2
MTCH icon
Match Group
MTCH
+$22.1M
3
DFNS.U
LGL Systems Acquisition Corp. Units
DFNS.U
+$13.2M
4
AVDL
Avadel Pharmaceuticals
AVDL
+$11.7M
5
ABUS icon
Arbutus Biopharma
ABUS
+$9.21M

Top Sells

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$238M
2
AAPL icon
Apple
AAPL
+$158M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$77M
4
FRC
First Republic Bank
FRC
+$42.3M
5
XLY icon
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
+$37.6M

Sector Composition

Rank Sector Weight
1 Healthcare 16.59%
2 Financials 12.01%
3 Communication Services 5.9%
4 Energy 5.73%
5 Consumer Discretionary 4.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MUDSW
276
DELISTED
Mudrick Capital Acquisition Corporation Warrant
MUDSW
$54K 0.01%
153,856
+113,068
+277% +$73.3K
SRTAW
277
DELISTED
Strata Critical Medical Inc Warrants
SRTAW
$53K 0.01%
+72,196
New +$67.4K
LCAHW
278
DELISTED
Landcadia Holdings II, Inc. Warrant
LCAHW
$52K 0.01%
129,649
+80,474
+164% +$57K
JFKKW
279
DELISTED
8i Enterprises Acquisition Corp Warrant
JFKKW
$51K 0.01%
+122,000
New +$58.4K
PRDO icon
280
PUT
Perdoceo Education
PRDO
$1.95B
$50K 0.01%
+28,000
New +$435K
PTACW
281
DELISTED
PropTech Acquisition Corporation Warrant
PTACW
$50K 0.01%
+71,475
New +$77K
CNC icon
282
CALL
Centene
CNC
$32.1B
$49K 0.01%
+20,000
New +$1.21M
HUN icon
283
PUT
Huntsman Corp
HUN
$1.83B
$48K 0.01%
+60,000
New +$1.17M
JSPRW icon
284
Japer Therapeutics Warrants
JSPRW
$216K
$48K 0.01%
+74,103
New +$58.2K
GIX.WS
285
DELISTED
GigCapital2, Inc. Warrants exercisable for one share of Common Stock at an exercise price of $11.50
GIX.WS
$48K 0.01%
156,300
-19,800
-11% -$7.88K
GDX icon
286
CALL
VanEck Gold Miners ETF
GDX
$27.5B
$47K 0.01%
50,000
-850,000
-94% -$23.3M
LFLYW
287
DELISTED
Leafly Holdings, Inc. Warrant
LFLYW
$47K 0.01%
94,922
+300
+0.3% +$147
RDUS
288
PUT
DELISTED
Radius Health, Inc.
RDUS
$47K 0.01%
+4,000
New +$71.3K
XBI icon
289
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.4B
$46K 0.01%
77,000
-293,700
-79% -$26M
INOV
290
CALL
DELISTED
Inovalon Holdings, Inc. Class A Common Stock
INOV
$46K 0.01%
+26,700
New +$507K
FAST icon
291
PUT
Fastenal
FAST
$60.1B
$45K 0.01%
20,000
+10,000
+100% +$176K
SMH icon
292
CALL
VanEck Semiconductor ETF
SMH
$70.6B
$45K 0.01%
+22,000
New +$1.48M
TLT icon
293
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$45K 0.01%
+14,500
New +$2.16M
FFIV icon
294
PUT
F5
FFIV
$23.4B
$44K 0.01%
+11,000
New +$1.35M
MFAC.WS
295
DELISTED
Megalith Financial Acquisition Corp. Warrants, each warrant exercisable for one share of Class A Com
MFAC.WS
$44K 0.01%
198,182
-18,792
-9% -$7.32K
CHPMW
296
DELISTED
CHP Merger Corp. Warrant
CHPMW
$43K 0.01%
+80,293
New +$81.4K
AAP icon
297
Advance Auto Parts
AAP
$3.19B
$42K 0.01%
+445
New +$57.6K
PAACW
298
DELISTED
Proficient Alpha Acquisition Corp. Warrant
PAACW
$41K 0.01%
797,513
+287,755
+56% +$39.5K
ASLEW
299
DELISTED
AerSale Corp Warrants
ASLEW
$40K 0.01%
132,463
-191,711
-59% -$123K
INOV
300
PUT
DELISTED
Inovalon Holdings, Inc. Class A Common Stock
INOV
$40K 0.01%
+26,700
New +$507K
10 11
12
13 14

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PWLP
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FPCG
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SI
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BC
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FTDI
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CIM
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Cowen and Company's Q1 2020 Portfolio in Review

As of Q1 2020, Cowen and Company held 647 positions worth $435M, down 62% from $1.15B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Cowen and Company withdrew a net $763M in Q1 2020, closing 246 positions and reducing 96 holdings. Its most notable exit was Apple, an estimated $158M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 17% of assets, up from 4.9% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Cowen and Company opened a new position in Match Group worth $19.8M.

  • Cowen and Company's largest Q1 2020 buy was Match Group: 300,000 shares worth $19.8M.
  • Cowen and Company added most to ExxonMobil in Q1 2020, an estimated $28M increase.
  • Cowen and Company's biggest Q1 2020 reduction was Invesco QQQ Trust, cutting an estimated $238M.
  • Cowen and Company fully exited Apple in Q1 2020, selling an estimated $158M.
  • Cowen and Company's ten largest holdings make up 44% of its $435M portfolio in Q1 2020.
  • Cowen and Company opened 200 new positions and closed 246 in Q1 2020.
  • Cowen and Company's portfolio value fell 62% quarter-over-quarter to $435M.

Based on Cowen and Company's 13F filing for Q1 2020, filed 11 May 2020.