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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
-16.31%
1 Year Est. Return
+105.26%
3 Year Est. Return
+120.05%
5 Year Est. Return
+670.56%
10 Year Est. Return
–
AUM
$435M
AUM Growth
-$716M
Cap. Flow
-$763M
Cap. Flow %
-175.1%
Top 10 Hldgs %
44.16%
Holding
647
New
200
Increased
86
Reduced
96
Closed
246

Top Buys

Rank Stock Value
1
XOM icon
ExxonMobil
XOM
+$28M
2
MTCH icon
Match Group
MTCH
+$22.1M
3
DFNS.U
LGL Systems Acquisition Corp. Units
DFNS.U
+$13.2M
4
AVDL
Avadel Pharmaceuticals
AVDL
+$11.7M
5
ABUS icon
Arbutus Biopharma
ABUS
+$9.21M

Top Sells

Rank Stock Value
1
QQQ icon
Invesco QQQ Trust
QQQ
+$238M
2
AAPL icon
Apple
AAPL
+$158M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$77M
4
FRC
First Republic Bank
FRC
+$42.3M
5
XLY icon
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
+$37.6M

Sector Composition

Rank Sector Weight
1 Healthcare 16.59%
2 Financials 12.01%
3 Communication Services 5.9%
4 Energy 5.73%
5 Consumer Discretionary 4.77%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GMHIW
126
DELISTED
Gores Metropoulos, Inc. Warrant
GMHIW
$433K 0.1%
332,817
-17,788
-5% -$28.8K
SPCE icon
127
PUT
Virgin Galactic
SPCE
$495M
$430K 0.1%
+2,500
New +$950K
LPX icon
128
PUT
Louisiana-Pacific
LPX
$5.28B
$429K 0.1%
+33,000
New +$913K
LCII icon
129
LCI Industries
LCII
$2.61B
$422K 0.1%
+6,312
New +$616K
ARYAW
130
DELISTED
ARYA Sciences Acquisiton Corp. Warrant
ARYAW
$422K 0.1%
229,212
+68,012
+42% +$134K
TRNE.WS
131
DELISTED
Trine Acquisition Corp. Redeemable Warrants, each whole warrant exercisable for one share of Class A
TRNE.WS
$420K 0.1%
699,864
+462,432
+195% +$401K
TTCF
132
DELISTED
Tattooed Chef, Inc Class A Common Stock
TTCF
$418K 0.1%
40,628
-134,008
-77% -$1.38M
UPS icon
133
CALL
United Parcel Service
UPS
$88.8B
$415K 0.1%
+112,300
New +$11.6M
DSKEW
134
DELISTED
Daseke, Inc. Warrant
DSKEW
$414K 0.1%
4,599,131
+3,548,872
+338% +$369K
FCX icon
135
Freeport-McMoran
FCX
$96.4B
$405K 0.09%
+59,984
New +$628K
ADV icon
136
Advantage Solutions
ADV
$386M
$403K 0.09%
+1,627
New +$439K
BABA icon
137
PUT
Alibaba
BABA
$307B
$387K 0.09%
22,900
-9,800
-30% -$2.05M
GME icon
138
PUT
GameStop
GME
$8.48B
$385K 0.09%
+600,000
New +$643K
X
139
PUT
DELISTED
US Steel
X
$376K 0.09%
+71,100
New +$596K
QGEN icon
140
Qiagen
QGEN
$8.88B
$374K 0.09%
+8,481
New +$331K
CVNA icon
141
CALL
Carvana
CVNA
$79.2B
$373K 0.09%
125,000
– –
ADN
142
DELISTED
Advent Technologies
ADN
$371K 0.09%
+1,216
New +$370K
IOVA icon
143
PUT
Iovance Biotherapeutics
IOVA
$2.91B
$370K 0.09%
+55,800
New +$1.48M
BAC icon
144
Bank of America
BAC
$447B
$361K 0.08%
16,999
-29,216
-63% -$876K
BREW
145
DELISTED
Craft Brew Alliance, Inc.
BREW
$357K 0.08%
+23,932
New +$375K
SRPT icon
146
Sarepta Therapeutics
SRPT
$1.89B
$351K 0.08%
3,589
+444
+14% +$50.8K
JD icon
147
CALL
JD.com
JD
$43B
$347K 0.08%
57,600
– –
TLT icon
148
iShares 20+ Year Treasury Bond ETF
TLT
$40.6B
$346K 0.08%
+2,100
New +$313K
CCXX.U
149
DELISTED
Churchill Capital Corp III Units, each consisting of one share of Class A Common Stock and one-fourt
CCXX.U
$330K 0.08%
+32,967
New +$336K
HCCOU
150
DELISTED
Healthcare Merger Corp. Units
HCCOU
$325K 0.07%
31,582
-70,677
-69% -$740K
4 5
6
7 8

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PWLP
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FPCG
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Cowen and Company's Q1 2020 Portfolio in Review

As of Q1 2020, Cowen and Company held 647 positions worth $435M, down 62% from $1.15B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Cowen and Company withdrew a net $763M in Q1 2020, closing 246 positions and reducing 96 holdings. Its most notable exit was Apple, an estimated $158M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 17% of assets, up from 4.9% a quarter earlier, followed by Financials and Communication Services.

Against the trend, Cowen and Company opened a new position in Match Group worth $19.8M.

  • Cowen and Company's largest Q1 2020 buy was Match Group: 300,000 shares worth $19.8M.
  • Cowen and Company added most to ExxonMobil in Q1 2020, an estimated $28M increase.
  • Cowen and Company's biggest Q1 2020 reduction was Invesco QQQ Trust, cutting an estimated $238M.
  • Cowen and Company fully exited Apple in Q1 2020, selling an estimated $158M.
  • Cowen and Company's ten largest holdings make up 44% of its $435M portfolio in Q1 2020.
  • Cowen and Company opened 200 new positions and closed 246 in Q1 2020.
  • Cowen and Company's portfolio value fell 62% quarter-over-quarter to $435M.

Based on Cowen and Company's 13F filing for Q1 2020, filed 11 May 2020.