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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
EEM icon
451
PUT
iShares MSCI Emerging Markets ETF
EEM
$29.9B
– –
-2,794,500
Closed -$176K
EFA icon
452
CALL
iShares MSCI EAFE ETF
EFA
$79.9B
– –
-321,300
Closed -$177K
EGHT icon
453
PUT
8x8 Inc
EGHT
$309M
– –
-40,000
Closed -$11K
EHTH icon
454
CALL
eHealth
EHTH
$39.1M
– –
-90,200
Closed -$3.39M
EHTH icon
455
PUT
eHealth
EHTH
$39.1M
– –
-22,500
Closed -$132K
EVH icon
456
CALL
Evolent Health
EVH
$464M
– –
-20,000
Closed -$1K
EWY icon
457
PUT
iShares MSCI South Korea ETF
EWY
$25.9B
– –
-100,000
Closed -$4K
EXAS
458
CALL
DELISTED
Exact Sciences
EXAS
– –
-15,000
Closed -$11K
EXAS
459
PUT
DELISTED
Exact Sciences
EXAS
– –
-15,000
Closed -$11K
EYE icon
460
National Vision
EYE
$1.77B
– –
-201
Closed -$7K
EYE icon
461
PUT
National Vision
EYE
$1.77B
– –
-17,600
Closed -$2K
FOSL icon
462
CALL
Fossil Group
FOSL
$310M
– –
-157,600
Closed -$114K
FORR icon
463
Forrester Research
FORR
$225M
– –
-8,764
Closed -$365K
FXI icon
464
CALL
iShares China Large-Cap ETF
FXI
$4.25B
– –
-272,400
Closed -$315K
GB
465
DELISTED
Global Blue Group Holding
GB
– –
-184,001
Closed -$1.9M
GDX icon
466
PUT
VanEck Gold Miners ETF
GDX
$27.5B
– –
-40,000
Closed -$1K
GEN icon
467
Gen Digital
GEN
$17.4B
– –
-39,150
Closed -$999K
GEN icon
468
PUT
Gen Digital
GEN
$17.4B
– –
-100,000
Closed -$3K
GOGO icon
469
Gogo Inc
GOGO
$392M
– –
-1,992
Closed -$8.52K
GPRO icon
470
CALL
GoPro
GPRO
$107M
– –
-11,800
Closed -$1K
HCA icon
471
HCA Healthcare
HCA
$89.1B
– –
-19,211
Closed -$2.84M
HCA icon
472
PUT
HCA Healthcare
HCA
$89.1B
– –
-9,100
Closed -$9K
HHH icon
473
CALL
Howard Hughes
HHH
$4B
– –
-58,115
Closed -$99K
HOFV
474
DELISTED
Hall of Fame Resort & Entertainment Co
HOFV
– –
-16,561
Closed -$2.72M
HWM icon
475
CALL
Howmet Aerospace
HWM
$112B
– –
-37,164
Closed -$60K
17 18
19
20 21

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CIP
Chartwell Investment Partners Berywn, Pennsylvania $2.91B AUM 40.48% 1-Year Est. Return
PWLP
Prio Wealth Limited Partnership Boston, Massachusetts $3.41B AUM 44.09% 1-Year Est. Return
FPCG
Fort Pitt Capital Group Pittsburgh, Pennsylvania $3.55B AUM 34.86% 1-Year Est. Return
SI
Scout Investments Kansas City, Missouri $3.8B AUM 45.91% 1-Year Est. Return
BC
Boxer Capital San Diego, California $2.04B AUM 108.39% 1-Year Est. Return
FTDI
First Trust Direct Indexing Boston, Massachusetts $1.87B AUM 43.63% 1-Year Est. Return
CIM
Contrarius Investment Management St. Helier, Jersey $1.76B AUM 35.87% 1-Year Est. Return
PRO
Pensioenfonds Rail & OV Utrecht, Netherlands $1.44B AUM 23.73% 1-Year Est. Return

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.