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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
EPWR.WS
851
DELISTED
Empowerment & Inclusion Capital 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
EPWR.WS
– –
-25,000
Closed -$1K
HUGS.WS
852
DELISTED
USHG Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A Common Stock at an exercise price of $11.50
HUGS.WS
– –
-79,828
Closed -$4K
TWNI.WS
853
DELISTED
Tailwind International Acquisition Corp. Redeemable warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
TWNI.WS
– –
-214,462
Closed -$5K
KIIIW
854
DELISTED
Kismet Acquisition Three Corp. Warrant
KIIIW
– –
-165,688
Closed -$2K
GAPA
855
DELISTED
G&P Acquisition Corp.
GAPA
– –
-18,951
Closed -$189K
TSPQ.WS
856
DELISTED
TCW Special Purpose Acquisition Corp. Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
TSPQ.WS
– –
-533,153
Closed -$32K
AAQC.WS
857
DELISTED
Accelerate Acquisition Corp Warrants
AAQC.WS
– –
-60,566
Closed -$4K
AXH.WS
858
DELISTED
Industrial Human Capital, Inc. Warrants
AXH.WS
– –
-423,841
Closed -$8K
AGBAR
859
DELISTED
AGBA Acquisition Ltd Right
AGBAR
– –
-50,279
Closed -$7K
ESSCR
860
DELISTED
East Stone Acquisition Corporation Right
ESSCR
– –
-30,000
Closed -$8K
MDH.WS
861
DELISTED
MDH Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
MDH.WS
– –
-130,018
Closed -$5K
FSNB.WS
862
DELISTED
Fusion Acquisition Corp. II Redeemable Warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share
FSNB.WS
– –
-31,196
Closed -$2K
SPGS.WS
863
DELISTED
Simon Property Group Acquisition Holdings, Inc. Warrants, each exercisable for one Class A common stock at an exercise price of $11.50 per share
SPGS.WS
– –
-86,315
Closed -$6K
CHAA.WS
864
DELISTED
Catcha Investment Corp Redeemable Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
CHAA.WS
– –
-15,198
Closed -$1K
AMPI.WS
865
DELISTED
Advanced Merger Partners Inc Warrants
AMPI.WS
– –
-14,583
Closed -$1K
USWS
866
DELISTED
U.S. Well Services, Inc. Class A Common Stock
USWS
– –
-72,979
Closed -$370K
PRBM.WS
867
DELISTED
Parabellum Acquisition Corp. Redeemable Warrants, each exercisable for one share of Common Stock at an exercise price of $11.50 per share
PRBM.WS
– –
-49,000
Closed -$2K
BENE
868
DELISTED
Benessere Capital Acquisition Corp. Class A Common Stock
BENE
– –
-233,965
Closed -$2.43M
SRLP
869
DELISTED
SPRAGUE RESOURCES LP
SRLP
– –
-115,486
Closed -$2.29M
BENER
870
DELISTED
Benessere Capital Acquisition Corp. Right
BENER
– –
-29,900
Closed -$4K
CLIM.WS
871
DELISTED
Climate Real Impact Solutions II Acquisition Corporation Redeemable Warrants, each whole Warrant exercisable for one share of Class A Common Stock, each at an exercise price of $11.50 per share
CLIM.WS
– –
-17,500
Closed -$1K
LUXAW
872
DELISTED
Lux Health Tech Acquisition Corp. Warrants
LUXAW
– –
-573,002
Closed -$74K
SRSAW
873
DELISTED
Sarissa Capital Acquisition Corp. Warrants
SRSAW
– –
-56,786
Closed -$1K
TEKKW
874
DELISTED
Tekkorp Digital Acquisition Corp. Warrant
TEKKW
– –
-584,690
Closed -$13K
TWTR
875
DELISTED
Twitter, Inc.
TWTR
– –
-951,172
Closed -$7.61M
32 33 34
35
36

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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.