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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
+17.7%
1 Year Est. Return
+105.26%
3 Year Est. Return
+120.05%
5 Year Est. Return
+670.56%
10 Year Est. Return
–
AUM
$956M
AUM Growth
-$88.9M
Cap. Flow
-$124M
Cap. Flow %
-13%
Top 10 Hldgs %
51.28%
Holding
904
New
257
Increased
162
Reduced
180
Closed
232

Top Buys

Rank Stock Value
1
DCP
DCP Midstream, LP
DCP
+$58.7M
2
IMVT icon
Immunovant
IMVT
+$15.7M
3
LL
LL Flooring Holdings, Inc.
LL
+$11.4M
4
ACET icon
Adicet Bio
ACET
+$10.9M
5
INVZ icon
Innoviz Technologies
INVZ
+$9.95M

Top Sells

Rank Stock Value
1
ARKK icon
ARK Innovation ETF
ARKK
+$131M
2
IMCR icon
Immunocore
IMCR
+$34.1M
3
FTAI icon
FTAI Aviation
FTAI
+$28.1M
4
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$20.8M
5
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$14.4M

Sector Composition

Rank Sector Weight
1 Healthcare 36.98%
2 Financials 14.53%
3 Materials 10.99%
4 Energy 8.52%
5 Consumer Discretionary 5.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FCAX.WS
826
DELISTED
Fortress Capital Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
FCAX.WS
– –
-88,498
Closed -$7K
SCLE
827
DELISTED
Broadscale Acquisition Corp. Class A common stock
SCLE
– –
-30,000
Closed -$296K
LOTZW
828
DELISTED
CarLotz, Inc. Warrant
LOTZW
– –
-1,425,675
Closed -$59K
VTIQW
829
DELISTED
VectoIQ Acquisition Corp. II Warrant
VTIQW
– –
-610,365
Closed -$73K
AFACW
830
DELISTED
Arena Fortify Acquisition Corp. Warrant
AFACW
– –
-545,000
Closed -$545K
KAHC.WS
831
DELISTED
KKR Acquisition Holdings I Corp. Redeemable Warrants, each whole Warrant exercisable for one share of Class A Common Stock, each at an exercise price of $11.50 per share
KAHC.WS
– –
-463,909
Closed -$56K
OEPWW
832
DELISTED
One Equity Partners Open Water I Corp. Warrant
OEPWW
– –
-50,000
Closed -$4K
ZWRKW
833
DELISTED
Z-Work Acquisition Corp. Warrant
ZWRKW
– –
-22,433
Closed -$1K
EFHTU
834
DELISTED
EF Hutton Acquisition Corporation I Unit
EFHTU
– –
-32,928
Closed -$329K
FSSIW
835
DELISTED
Fortistar Sustainable Solutions Corp. Warrant
FSSIW
– –
-898,118
Closed -$111K
CLRMW
836
DELISTED
Clarim Acquisition Corp. Warrant
CLRMW
– –
-46,600
Closed -$2K
REVHW
837
DELISTED
Revolution Healthcare Acquisition Corp. SAIL Warrant.
REVHW
– –
-150,569
Closed -$6K
LAAAW
838
DELISTED
Lakeshore Acquisition I Corp. Warrant
LAAAW
– –
-278,912
Closed -$38K
SWCH
839
DELISTED
Switch, Inc. Class A Common Stock
SWCH
– –
-193,500
Closed -$6.52M
CND.WS
840
DELISTED
Concord Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50
CND.WS
– –
-50,246
Closed -$26K
NDACW
841
DELISTED
NightDragon Acquisition Corp. Warrants to purchase Class A common stock
NDACW
– –
-10,000
Closed -$1K
HMCOW
842
DELISTED
HumanCo Acquisition Corp. Warrant
HMCOW
– –
-1,885,114
Closed -$207K
HMCO
843
DELISTED
HumanCo Acquisition Corp. Class A Common Stock
HMCO
– –
-25,000
Closed -$249K
OHPAU
844
DELISTED
Orion Acquisition Corp. Unit
OHPAU
– –
-47,782
Closed -$469K
OHPAW
845
DELISTED
Orion Acquisition Corp. Warrant
OHPAW
– –
-97,233
Closed -$5K
LMACU
846
DELISTED
Liberty Media Acquisition Corporation Unit
LMACU
– –
-138,433
Closed -$1.38M
WPCA.WS
847
DELISTED
Warburg Pincus Capital Corporation I-A Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
WPCA.WS
– –
-744,037
Closed -$67K
WPCB.WS
848
DELISTED
Warburg Pincus Capital Corporation I-B Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
WPCB.WS
– –
-550,028
Closed -$35K
EQHA.WS
849
DELISTED
EQ Health Acquisition Corp. Redeemable Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share
EQHA.WS
– –
-15,418
Closed -$1K
FVT
850
DELISTED
Fortress Value Acquisition Corp. III
FVT
– –
-39,563
Closed -$392K
32 33
34
35 36

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CIP
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PWLP
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FPCG
Fort Pitt Capital Group Pittsburgh, Pennsylvania $3.55B AUM 34.86% 1-Year Est. Return
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 Q4 2022 Portfolio in Review

As of Q4 2022, Cowen and Company held 904 positions worth $956M, down 8.5% from $1.05B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Cowen and Company withdrew a net $124M in Q4 2022, closing 232 positions and reducing 180 holdings. Its most notable exit was ARK Innovation ETF, an estimated $131M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 37% of assets, up from 34% a quarter earlier, followed by Financials and Materials.

Against the trend, Cowen and Company opened a new position in DCP Midstream, LP worth $58.8M.

  • Cowen and Company's largest Q4 2022 buy was DCP Midstream, LP: 1,516,562 shares worth $58.8M.
  • Cowen and Company added most to Adicet Bio in Q4 2022, an estimated $10.9M increase.
  • Cowen and Company's biggest Q4 2022 reduction was Immunocore, cutting an estimated $34.1M.
  • Cowen and Company fully exited ARK Innovation ETF in Q4 2022, selling an estimated $131M.
  • Cowen and Company's ten largest holdings make up 51% of its $956M portfolio in Q4 2022.
  • Cowen and Company opened 257 new positions and closed 232 in Q4 2022.
  • Cowen and Company's portfolio value fell 8.5% quarter-over-quarter to $956M.

Based on Cowen and Company's 13F filing for Q4 2022, filed 9 Feb 2023.