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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
+120.06%
5 Year Est. Return
+670.57%
10 Year Est. Return
–
AUM
$435M
AUM Growth
-$716M
(-62%)
Cap. Flow
-$763M
Cap. Flow
% of AUM
-175.1%
Top 10 Holdings %
Top 10 Hldgs %
44.16%
Holding
647
New
200
Increased
86
Reduced
96
Closed
246
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ExxonMobil
XOM
|
+$28M |
| 2 |
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 |
Arbutus Biopharma
ABUS
|
+$9.21M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Invesco QQQ Trust
QQQ
|
+$238M |
| 2 |
Apple
AAPL
|
+$158M |
| 3 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$77M |
| 4 |
FRC
First Republic Bank
FRC
|
+$42.3M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
1
Invesco QQQ Trust
QQQ
$453B
| $58.1M | 13.35% |
305,316
-1,125,984
| -79% | -$238M |
|
2
Sumitomo Mitsui Financial
SMFG
$164B
| $30.7M | 7.04% |
6,401,605
-3,450,000
| -35% | -$22.2M |
|
|
3
Match Group
MTCH
$9.19B
| $19.8M | 4.55% |
+300,000
| New | +$22.1M |
|
|
4
ExxonMobil
XOM
$644B
| $19.7M | 4.52% |
517,946
+506,623
| +4,474% | +$28M |
|
|
5
State Street SPDR S&P 500 ETF Trust
SPY
$790B
| $17.1M | 3.94% |
66,500
-252,500
| -79% | -$77M |
|
|
DFNS.U
6
DELISTED
LGL Systems Acquisition Corp. Units
DFNS.U
| $14.1M | 3.23% |
1,397,901
+1,286,326
| +1,153% | +$13.2M |
|
|
AVDL
7
DELISTED
Avadel Pharmaceuticals
AVDL
| $10.8M | 2.47% |
+1,517,296
| New | +$11.7M |
|
8
PUT
Kohl's
KSS
$2.17B
| $7.52M | 1.73% |
199,100
-283,300
| -59% | -$10.6M |
|
9
Q32 Bio
QTTB
$466M
| $7.41M | 1.7% |
+26,472
| New | +$8.11M |
|
10
BHP
BHP
$215B
| $7.15M | 1.64% |
+218,371
| New | +$9.11M |
|
11
ChargePoint
CHPT
$141M
| $6M | 1.38% |
31,102
+22,625
| +267% | +$4.48M |
|
|
VLDR
12
DELISTED
Velodyne Lidar, Inc. Common Stock
VLDR
| $5.62M | 1.29% |
+552,410
| New | +$5.63M |
|
|
13
PUT
ExxonMobil
XOM
$644B
| $5.35M | 1.23% |
581,800
+566,800
| +3,779% | +$31.3M |
|
14
HighPeak Energy
HPK
$903M
| $5.26M | 1.21% |
506,240
+466,917
| +1,187% | +$4.86M |
|
15
CVS Health
CVS
$133B
| $4.54M | 1.04% |
+76,534
| New | +$5.11M |
|
|
KLR
16
DELISTED
Kaleyra, Inc.
KLR
| $4.51M | 1.04% |
176,601
| – | – |
|
|
17
Arbutus Biopharma
ABUS
$857M
| $4.37M | 1% |
4,331,020
+3,404,820
| +368% | +$9.21M |
|
18
DaVita
DVA
$15.4B
| $4.35M | 1% |
57,178
-44,990
| -44% | -$3.54M |
|
19
Establishment Labs
ESTA
$2.72B
| $4.31M | 0.99% |
298,247
+178,493
| +149% | +$3.94M |
|
20
Skillsoft
SKIL
$63.7M
| $4.12M | 0.95% |
+20,713
| New | +$4.34M |
|
|
VTIQU
21
DELISTED
VectoIQ Acquisition Corp. Unit
VTIQU
| $4.12M | 0.95% |
296,667
-17,134
| -5% | -$234K |
|
22
Exagen
XGN
$109M
| $3.82M | 0.88% |
+239,671
| New | +$4.76M |
|
|
CFFAU
23
DELISTED
CF Finance Acquisition Corp. Unit
CFFAU
| $3.61M | 0.83% |
330,200
+320,200
| +3,202% | +$3.49M |
|
|
DMS
24
DELISTED
Digital Media Solutions, Inc.
DMS
| $3.56M | 0.82% |
+23,067
| New | +$3.59M |
|
|
DEACW
25
DELISTED
Diamond Eagle Acquisition Corp. Warrant
DEACW
| $3.44M | 0.79% |
1,201,562
+1,129,135
| +1,559% | +$4.78M |
|
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PRO
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.