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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
+18.18%
1 Year Est. Return
+105.26%
3 Year Est. Return
+120.05%
5 Year Est. Return
+670.56%
10 Year Est. Return
–
AUM
$1.12B
AUM Growth
+$507M
Cap. Flow
+$424M
Cap. Flow %
37.86%
Top 10 Hldgs %
69.37%
Holding
669
New
238
Increased
59
Reduced
66
Closed
278

Top Buys

Rank Stock Value
1
LQD icon
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
+$112M
2
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$111M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$69.2M
4
QQQ icon
Invesco QQQ Trust
QQQ
+$68.6M
5
IWM icon
iShares Russell 2000 ETF
IWM
+$49.8M

Top Sells

Rank Stock Value
1
NKLA
Nikola Corporation Common Stock
NKLA
+$40M
2
ALBO
Albireo Pharma Inc
ALBO
+$20M
3
AVPT icon
AvePoint
AVPT
+$14.5M
4
MCD icon
McDonald's
MCD
+$10.2M
5
CMRC
Commerce.com Inc Series 1
CMRC
+$5.84M

Sector Composition

Rank Sector Weight
1 Financials 8.86%
2 Healthcare 4.92%
3 Technology 4.04%
4 Communication Services 3.4%
5 Industrials 2.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DRNA
576
PUT
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
– –
-15,000
Closed -$14K
XLRN
577
CALL
DELISTED
Acceleron Pharma
XLRN
– –
-15,000
Closed -$263K
XLRN
578
PUT
DELISTED
Acceleron Pharma
XLRN
– –
-15,000
Closed -$11K
BOWXU
579
DELISTED
BowX Acquisition Corp. Unit
BOWXU
– –
-12,542
Closed -$129K
HZAC.U
580
DELISTED
Horizon Acquisition Corporation Units, each consisting of one Class A ordinary share and one-third o
HZAC.U
– –
-75,000
Closed -$780K
PTK.U
581
DELISTED
PTK Acquisition Corp. Units, each consisting of one share of Common Stock, and one Warrant to acquir
PTK.U
– –
-47,332
Closed -$482K
GLEO.U
582
DELISTED
Galileo Acquisition Corp. Units, each consisting of one Ordinary Share and one Redeemable Warrant
GLEO.U
– –
-24,000
Closed -$253K
FUSE.WS
583
DELISTED
Fusion Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A common st
FUSE.WS
– –
-206,401
Closed -$225K
SOAC.U
584
DELISTED
Sustainable Opportunities Acquisition Corp. Units, each consisting of one Class A ordinary share and
SOAC.U
– –
-100,000
Closed -$1.11M
KSMTU
585
DELISTED
Kismet Acquisition One Corp Unit
KSMTU
– –
-277,796
Closed -$2.78M
SNPR.U
586
DELISTED
Tortoise Acquisition Corp. II Units, each consisting of one Class A ordinary share and one-fourth of
SNPR.U
– –
-50,000
Closed -$544K
VACQU
587
DELISTED
Vector Acquisition Corporation Unit
VACQU
– –
-23,588
Closed -$239K
SCPE.WS
588
DELISTED
SC Health Corporation Warrants, each whole warrant exercisable for one Class A ordinary share at an
SCPE.WS
– –
-50,000
Closed -$58K
BPY
589
PUT
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
– –
-266,100
Closed -$1.2M
CCIV.U
590
DELISTED
Churchill Capital Corp IV Units, each consisting of one share of Class A common stock and one-fifth
CCIV.U
– –
-41,260
Closed -$413K
ANDAR
591
DELISTED
Andina Acquisition Corp. III Right
ANDAR
– –
-49,995
Closed -$18K
NHICW
592
DELISTED
NewHold Investment Corp. Warrant
NHICW
– –
-25,000
Closed -$17K
SBG.U
593
DELISTED
Sandbridge Acquisition Corporation Units, each consisting of one share of Class A Common Stock and o
SBG.U
– –
-500,000
Closed -$4.99M
ALUS
594
DELISTED
Alussa Energy Acquisition Corp
ALUS
– –
-147,353
Closed -$1.46M
WPF.U
595
DELISTED
Foley Trasimene Acquisition Corp.
WPF.U
– –
-29,108
Closed -$329K
WPF.WS
596
DELISTED
Foley Trasimene Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A
WPF.WS
– –
-15,300
Closed -$35K
APXTU
597
DELISTED
Apex Technology Acquisition Corporation Unit
APXTU
– –
-23,900
Closed -$282K
HOLUU
598
DELISTED
Holicity Inc. Unit
HOLUU
– –
-70,200
Closed -$727K
FIIIU
599
DELISTED
Forum Merger III Corporation Units
FIIIU
– –
-50,000
Closed -$522K
CCX.WS
600
DELISTED
Churchill Capital Corp II Warrants, each exercisable for one share of Class A common stock at an exe
CCX.WS
– –
-78,885
Closed -$172K
22 23
24
25 26

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FPCG
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SI
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Cowen and Company's Q4 2020 Portfolio in Review

As of Q4 2020, Cowen and Company held 669 positions worth $1.12B, up 83% from $613M the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Cowen and Company deployed $424M of net new capital in Q4 2020, opening 238 new positions and adding to 59 existing holdings. Its largest new stake was iShares iBoxx $ Investment Grade Corporate Bond ETF: 825,000 shares worth $114M.

By sector, the portfolio is most concentrated in Financials at 8.9% of assets, up from 8.4% a quarter earlier, followed by Healthcare and Technology.

On the sell side, the largest reduction was McDonald's, an estimated $10.2M trimmed.

  • Cowen and Company's largest Q4 2020 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 825,000 shares worth $114M.
  • Cowen and Company added most to Invesco QQQ Trust in Q4 2020, an estimated $68.6M increase.
  • Cowen and Company's biggest Q4 2020 reduction was McDonald's, cutting an estimated $10.2M.
  • Cowen and Company fully exited Nikola Corporation Common Stock in Q4 2020, selling an estimated $40M.
  • Cowen and Company's ten largest holdings make up 69% of its $1.12B portfolio in Q4 2020.
  • Cowen and Company opened 238 new positions and closed 278 in Q4 2020.
  • Cowen and Company's portfolio value rose 83% quarter-over-quarter to $1.12B.

Based on Cowen and Company's 13F filing for Q4 2020, filed 8 Feb 2021.