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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
+18.1%
1 Year Est. Return
+105.26%
3 Year Est. Return
+120.05%
5 Year Est. Return
+670.56%
10 Year Est. Return
–
AUM
$1.52B
AUM Growth
+$95.3M
Cap. Flow
-$53M
Cap. Flow %
-3.48%
Top 10 Hldgs %
46.4%
Holding
811
New
169
Increased
201
Reduced
172
Closed
223

Top Buys

Rank Stock Value
1
PTCT icon
PTC Therapeutics
PTCT
+$66.9M
2
SAGE
Sage Therapeutics
SAGE
+$26.6M
3
IMO icon
Imperial Oil
IMO
+$24.9M
4
COIN icon
Coinbase
COIN
+$22.5M
5
ANSCU
Agriculture & Natural Solutions Acquisition Corp Unit
ANSCU
+$21.6M

Top Sells

Rank Stock Value
1
MSOS icon
AdvisorShares Pure US Cannabis ETF
MSOS
+$48.7M
2
AAC
Ares Acquisition Corporation
AAC
+$36.4M
3
PTGX icon
Protagonist Therapeutics
PTGX
+$27.6M
4
HCVIU
Hennessy Capital Investment Corp. VI Unit
HCVIU
+$17.4M
5
NETD
Nabors Energy Transition Corp II
NETD
+$16.9M

Sector Composition

Rank Sector Weight
1 Healthcare 30.8%
2 Financials 24.54%
3 Technology 21.73%
4 Communication Services 4.41%
5 Energy 3.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TLT icon
676
CALL
iShares 20+ Year Treasury Bond ETF
TLT
$40.5B
– –
-49,000
Closed -$59.8K
TLT icon
677
iShares 20+ Year Treasury Bond ETF
TLT
$40.5B
– –
-31,600
Closed -$2.8M
TLT icon
678
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$40.5B
– –
-98,900
Closed -$549K
TSEM icon
679
Tower Semiconductor
TSEM
$28.5B
– –
-26,814
Closed -$659K
TSM icon
680
CALL
TSMC
TSM
$2.17T
– –
-30,000
Closed -$11.3K
TSM icon
681
PUT
TSMC
TSM
$2.17T
– –
-10,000
Closed -$17.3K
VAL.WS icon
682
Valaris Ltd Warrants
VAL.WS
$813M
– –
-40,463
Closed -$590K
VOD icon
683
CALL
Vodafone
VOD
$36.4B
– –
-25,000
Closed -$2.25K
X
684
PUT
DELISTED
US Steel
X
– –
-31,900
Closed -$27K
ZVSA
685
DELISTED
ZyVersa Therapeutics
ZVSA
– –
-143
Closed -$6.47K
DHAIW
686
DELISTED
DIH Holding US Inc Warrants
DHAIW
– –
-32,657
Closed -$538
RPT
687
Rithm Property Trust
RPT
$96M
– –
-33,887
Closed -$1.31M
LSB
688
DELISTED
LakeShore Biopharma
LSB
– –
-1,236
Closed -$9.88K
FLD
689
Fold Holdings
FLD
$22.9M
– –
-836,369
Closed -$8.75M
QVCGA
690
CALL
DELISTED
QVC Group Inc Series A
QVCGA
– –
-826
Closed -$1.03K
DECA
691
DELISTED
Denali Capital Acquisition Corp. Class A Ordinary Shares
DECA
– –
-27,793
Closed -$304K
MSSA
692
DELISTED
Metal Sky Star Acquisition Corporation Ordinary shares
MSSA
– –
-71,373
Closed -$777K
HCVIU
693
DELISTED
Hennessy Capital Investment Corp. VI Unit
HCVIU
– –
-1,501,275
Closed -$17.4M
LUNRW
694
DELISTED
Intuitive Machines, Inc. Warrants
LUNRW
– –
-14,243
Closed -$4.13K
PNST
695
DELISTED
Pinstripes Holdings, Inc.
PNST
– –
-29,233
Closed -$308K
EVGR
696
DELISTED
Evergreen Corporation Class A Ordinary Share
EVGR
– –
-255,283
Closed -$2.8M
CSLMW
697
DELISTED
CSLM Acquisition Corp. Warrant
CSLMW
– –
-20,954
Closed -$733
IVCB
698
DELISTED
Investcorp Europe Acquisition Corp I Class A Ordinary Shares
IVCB
– –
-149,288
Closed -$1.62M
PRLH
699
DELISTED
Pearl Holdings Acquisition Corp Class A Ordinary Shares
PRLH
– –
-1,113,091
Closed -$11.9M
GHIX
700
DELISTED
Gores Holdings IX, Inc. Class A Common Stock
GHIX
– –
-463,992
Closed -$4.82M
26 27
28
29 30

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Cowen and Company's Q4 2023 Portfolio in Review

As of Q4 2023, Cowen and Company held 811 positions worth $1.52B, up 6.7% from $1.43B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Cowen and Company withdrew a net $53M in Q4 2023, closing 223 positions and reducing 172 holdings. Its most notable exit was AdvisorShares Pure US Cannabis ETF, an estimated $48.7M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 31% of assets, up from 22% a quarter earlier, followed by Financials and Technology.

Against the trend, Cowen and Company opened a new position in Sage Therapeutics worth $29M.

  • Cowen and Company's largest Q4 2023 buy was Sage Therapeutics: 1,339,971 shares worth $29M.
  • Cowen and Company added most to PTC Therapeutics in Q4 2023, an estimated $66.9M increase.
  • Cowen and Company's biggest Q4 2023 reduction was Nabors Energy Transition Corp II, cutting an estimated $16.9M.
  • Cowen and Company fully exited AdvisorShares Pure US Cannabis ETF in Q4 2023, selling an estimated $48.7M.
  • Cowen and Company's ten largest holdings make up 46% of its $1.52B portfolio in Q4 2023.
  • Cowen and Company opened 169 new positions and closed 223 in Q4 2023.
  • Cowen and Company's portfolio value rose 6.7% quarter-over-quarter to $1.52B.

Based on Cowen and Company's 13F filing for Q4 2023, filed 8 Feb 2024.