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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
LVOXW
726
DELISTED
LiveVox Holding, Inc. Warrant
LVOXW
– –
-142,910
Closed -$40K
NOGNW
727
DELISTED
Nogin, Inc. Warrant
NOGNW
– –
-50,100
Closed -$996
NETC.WS
728
DELISTED
Nabors Energy Transition Corp. Warrants, exercisable for one share of Class A Common Stock
NETC.WS
– –
-120,100
Closed -$22.8K
ACRO
729
DELISTED
Acropolis Infrastructure Acquisition Corp
ACRO
– –
-265,758
Closed -$2.73M
NIRWW
730
DELISTED
Near Intelligence, Inc. Warrant
NIRWW
– –
-50,680
Closed -$1.22K
NETC
731
DELISTED
Nabors Energy Transition Corp.
NETC
– –
-150,894
Closed -$1.64M
SGEN
732
PUT
DELISTED
Seagen Inc. Common Stock
SGEN
– –
-11,300
Closed -$65K
ELIQ.WS
733
DELISTED
Electriq Power Holdings, Inc. Warrants, each exercisable for one share of Class A common stock at an exercise price of $6.57 per share
ELIQ.WS
– –
-213,007
Closed -$6.06K
EFHTR
734
DELISTED
EF Hutton Acquisition Corporation I Rights
EFHTR
– –
-712,992
Closed -$121K
BURU.WS
735
DELISTED
Nuburu, Inc. Redeemable Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50
BURU.WS
– –
-126,600
Closed -$2.73K
FRXB
736
DELISTED
Forest Road Acquisition Corp. II
FRXB
– –
-232,021
Closed -$2.4M
TBCPW
737
DELISTED
Thunder Bridge Capital Partners III Inc. Warrant
TBCPW
– –
-33,900
Closed -$2.37K
BRD
738
DELISTED
Beard Energy Transition Acquisition Corp.
BRD
– –
-10,903
Closed -$117K
MBAC
739
DELISTED
M3-Brigade Acquisition II Corp.
MBAC
– –
-251,179
Closed -$2.61M
IPVF.WS
740
DELISTED
InterPrivate III Financial Partners Inc. Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
IPVF.WS
– –
-102,744
Closed -$8.24K
MOBVW
741
DELISTED
Mobiv Acquisition Corp Warrant
MOBVW
– –
-225,000
Closed -$15.8K
BMAC
742
DELISTED
Black Mountain Acquisition Corp.
BMAC
– –
-375,000
Closed -$4M
FSRXW
743
DELISTED
FinServ Acquisition Corp. II Warrant
FSRXW
– –
-132,793
Closed -$4.01K
CFIV
744
DELISTED
CF Acquisition Corp. IV Class A common stock
CFIV
– –
-360,827
Closed -$3.85M
KNSW
745
DELISTED
KnightSwan Acquisition Corporation
KNSW
– –
-254,644
Closed -$2.68M
KNSW.WS
746
DELISTED
KnightSwan Acquisition Corporation Public warrants, each whole public warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50 per share
KNSW.WS
– –
-559,805
Closed -$20.3K
CZOO
747
DELISTED
Cazoo Group Ltd
CZOO
– –
-500
Closed -$27.3K
SUAC.WS
748
DELISTED
ShoulderUp Technology Acquisition Corp. Redeemable Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50
SUAC.WS
– –
-86,955
Closed -$2.17K
HWELW
749
DELISTED
Healthwell Acquisition Corp. I Warrant
HWELW
– –
-146,710
Closed -$24.9K
CCVI.WS
750
DELISTED
Churchill Capital Corp VI Warrants, each exercisable for one share of Class A common stock at an exercise price of $11.50 per share
CCVI.WS
– –
-244,570
Closed -$39.1K
28 29
30
31 32

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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.