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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
TSEM icon
526
Tower Semiconductor
TSEM
$28.2B
– –
-19,987
Closed -$481K
UAL icon
527
CALL
United Airlines
UAL
$41B
– –
-99,900
Closed -$16K
USB icon
528
US Bancorp
USB
$100B
– –
-590,000
Closed -$35M
UTHR icon
529
CALL
United Therapeutics
UTHR
$22.1B
– –
-24,400
Closed -$10K
UTHR icon
530
United Therapeutics
UTHR
$22.1B
– –
-17,742
Closed -$1.56M
UTHR icon
531
PUT
United Therapeutics
UTHR
$22.1B
– –
-24,400
Closed -$179K
VRT icon
532
Vertiv
VRT
$108B
– –
-329,093
Closed -$3.63M
VST icon
533
Vistra
VST
$48.6B
– –
-15,000
Closed -$345K
WDC icon
534
Western Digital
WDC
$151B
– –
-5,316
Closed -$255K
WW
535
CALL
DELISTED
WW International
WW
– –
-25,000
Closed -$30K
XBI icon
536
State Street SPDR S&P Biotech ETF
XBI
$10.4B
– –
-400,000
Closed -$35.4M
XLU icon
537
State Street Utilities Select Sector SPDR ETF
XLU
$22.7B
– –
-3,882
Closed -$125K
XLU icon
538
PUT
State Street Utilities Select Sector SPDR ETF
XLU
$22.7B
– –
-200,000
Closed -$5K
XLV icon
539
State Street Health Care Select Sector SPDR ETF
XLV
$43.9B
– –
-18,030
Closed -$1.84M
XLV icon
540
PUT
State Street Health Care Select Sector SPDR ETF
XLV
$43.9B
– –
-68,800
Closed -$136K
XLY icon
541
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$23.7B
– –
-600,000
Closed -$37.6M
XME icon
542
CALL
State Street SPDR S&P Metals & Mining ETF
XME
$4.56B
– –
-40,000
Closed -$64K
YOLO icon
543
AdvisorShares Pure Cannabis ETF
YOLO
$33.2M
– –
-6,011
Closed -$61.4K
ITCI
544
CALL
DELISTED
Intra-Cellular Therapies Inc.
ITCI
– –
-25,900
Closed -$631K
DM
545
DELISTED
Desktop Metal, Inc.
DM
– –
-14,200
Closed -$1.42M
TELL
546
DELISTED
Tellurian Inc.
TELL
– –
-50,000
Closed -$364K
TELL
547
PUT
DELISTED
Tellurian Inc.
TELL
– –
-50,000
Closed -$139K
SCTL
548
DELISTED
Societal CDMO, Inc. Common Stock
SCTL
– –
-24,134
Closed -$442K
SCTL
549
PUT
DELISTED
Societal CDMO, Inc. Common Stock
SCTL
– –
-19,300
Closed -$10K
NEPT
550
DELISTED
Neptune Wellness Solutions Inc. Ordinary Shares
NEPT
– –
-47
Closed -$180K
20 21
22
23 24

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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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PRO
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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.