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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
HTZ
651
CALL
DELISTED
Hertz Global Holdings, Inc.
HTZ
– –
-149,500
Closed -$22K
HTZ
652
PUT
DELISTED
Hertz Global Holdings, Inc.
HTZ
– –
-712,800
Closed -$222K
SPAQ.U
653
DELISTED
Spartan Energy Acquisition Corp Units (each consisting of one Class A Common Stock and one-third of
SPAQ.U
– –
-40,102
Closed -$648K
ARYBW
654
DELISTED
ARYA Sciences Acquisition Corp II Warrant
ARYBW
– –
-16,323
Closed -$29K
IMMU
655
CALL
DELISTED
Immunomedics Inc
IMMU
– –
-58,800
Closed -$9K
IMMU
656
PUT
DELISTED
Immunomedics Inc
IMMU
– –
-21,600
Closed -$25K
AIMT
657
CALL
DELISTED
Aimmune Therapeutics
AIMT
– –
-156,200
Closed -$12K
CCXX.U
658
DELISTED
Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt
CCXX.U
– –
-40,740
Closed -$438K
CCXX.WS
659
DELISTED
Churchill Capital Corp III Warrants, each exercisable for one share of Class A common stock at an ex
CCXX.WS
– –
-163,900
Closed -$328K
NBL
660
DELISTED
Noble Energy, Inc.
NBL
– –
-40,592
Closed -$347K
PFNX
661
DELISTED
Pfenex Inc.
PFNX
– –
-5,000
Closed -$64K
PFNX
662
PUT
DELISTED
Pfenex Inc.
PFNX
– –
-70,000
Closed -$37K
MNTA
663
CALL
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
– –
-216,400
Closed -$6K
SHLL.WS
664
DELISTED
Tortoise Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A common
SHLL.WS
– –
-41,396
Closed -$1.06M
JFKKW
665
DELISTED
8i Enterprises Acquisition Corp Warrant
JFKKW
– –
-122,000
Closed -$163K
DISH
666
DELISTED
DISH Network Corp.
DISH
– –
-11,465
Closed -$353K
DISH
667
PUT
DELISTED
DISH Network Corp.
DISH
– –
-35,000
Closed -$67K
PDLI
668
DELISTED
PDL BioPharma, Inc.
PDLI
– –
-180,000
Closed -$567K
VEDL
669
CALL
DELISTED
Vedanta Limited American Depostary Shares (Each representing four equity shares)
VEDL
– –
-44,700
Closed -$23K
23 24 25 26
27

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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 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.