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CI

Cowen Inc Portfolio holdings

AUM $1.39B
1-Year Est. Return 60.14%
This Fund
S&P 500
This Quarter Est. Return
+7.55%
1 Year Est. Return
+60.14%
3 Year Est. Return
+251.81%
5 Year Est. Return
+491.3%
10 Year Est. Return
–
AUM
$595M
AUM Growth
-$82.7M
Cap. Flow
-$109M
Cap. Flow %
-18.3%
Top 10 Hldgs %
41.11%
Holding
335
New
118
Increased
36
Reduced
41
Closed
120

Top Buys

Rank Stock Value
1
OMC icon
Omnicom Group
OMC
+$16.1M
2
COWN
Cowen Inc. Class A Common Stock
COWN
+$10.4M
3
APD icon
Air Products & Chemicals
APD
+$4.87M
4
ASH icon
Ashland
ASH
+$3.97M
5
LIFE
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
+$3.52M

Top Sells

Rank Stock Value
1
MDY icon
State Street SPDR S&P MIDCAP 400 ETF Trust
MDY
+$97.4M
2
IWD icon
iShares Russell 1000 Value ETF
IWD
+$42.3M
3
ONXX
ONYX PHARMACEUTICALS INC
ONXX
+$21.1M
4
NYX
NYSE EURONEXT INC
NYX
+$17.4M
5
DELL
DELL INC
DELL
+$13.3M

Sector Composition

Rank Sector Weight
1 Technology 7.14%
2 Industrials 4.24%
3 Energy 3.98%
4 Communication Services 3.83%
5 Consumer Discretionary 3.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CHS
76
DELISTED
Chicos FAS, Inc.
CHS
$2.38M 0.4%
+126,100
New +$2.23M
LEA icon
77
Lear
LEA
$7.33B
$2.37M 0.4%
+29,300
New +$2.29M
PEP icon
78
PepsiCo
PEP
$191B
$2.36M 0.4%
+28,500
New +$2.37M
MSFT icon
79
Microsoft
MSFT
$3.35T
$2.34M 0.39%
62,600
+35,515
+131% +$1.29M
TWC
80
PUT
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$2.33M 0.39%
+17,200
New +$2.14M
GGP
81
DELISTED
GGP Inc.
GGP
$2.29M 0.39%
+114,300
New +$2.35M
MDAS
82
DELISTED
MEDASSETS INC COM STK (DE)
MDAS
$2.12M 0.36%
+106,859
New +$2.4M
AOL
83
DELISTED
AOL INC COMMON STOCK
AOL
$2.09M 0.35%
+44,900
New +$1.83M
ADT
84
CALL
DELISTED
ADT Corp
ADT
$2.02M 0.34%
+50,000
New +$2.06M
LYB icon
85
PUT
LyondellBasell Industries
LYB
$19.5B
$2.01M 0.34%
+25,000
New +$1.92M
BIN
86
DELISTED
PROGRESSIVE WASTE SOLUTIONS LTD COM
BIN
$1.98M 0.33%
+79,958
New +$2.07M
AAL icon
87
American Airlines Group
AAL
$10.2B
$1.97M 0.33%
+77,985
New +$2.01M
FMC icon
88
CALL
FMC
FMC
$1.48B
$1.96M 0.33%
+29,978
New +$1.9M
NWPX icon
89
NWPX Infrastructure Inc
NWPX
$1.22B
$1.96M 0.33%
51,820
+5,475
+12% +$200K
VRTX icon
90
PUT
Vertex Pharmaceuticals
VRTX
$122B
$1.86M 0.31%
25,000
-16,200
-39% -$1.13M
COLE
91
DELISTED
COLE REAL ESTATE INVESTMENTS, INC COM
COLE
$1.84M 0.31%
+131,100
New +$1.79M
JNJ icon
92
PUT
Johnson & Johnson
JNJ
$617B
$1.83M 0.31%
20,000
-15,000
-43% -$1.38M
MMP
93
DELISTED
Magellan Midstream Partners, L.P.
MMP
$1.77M 0.3%
27,960
-5,500
-16% -$328K
ET icon
94
Energy Transfer Partners
ET
$69.6B
$1.73M 0.29%
84,700
+28,000
+49% +$504K
SCI icon
95
Service Corp International
SCI
$11.7B
$1.73M 0.29%
+95,479
New +$1.73M
LNCO
96
PUT
DELISTED
LINNCO LLC COM SHS REPSTG LTD LIABILITY
LNCO
$1.69M 0.28%
+54,700
New +$1.67M
BOBE
97
DELISTED
Bob Evans Farms, Inc.
BOBE
$1.6M 0.27%
31,643
+22,643
+252% +$1.24M
NUAN
98
CALL
DELISTED
Nuance Communications, Inc.
NUAN
$1.51M 0.25%
+115,154
New +$1.58M
GOOG icon
99
Alphabet (Google) Class C
GOOG
$4.08T
$1.46M 0.24%
52,195
+8,030
+18% +$203K
VVUS
100
DELISTED
Vivus Inc
VVUS
$1.43M 0.24%
15,774
-10,752
-41% -$1.04M
2 3
4
5 6

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LC
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LIC
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Cowen Inc's Q4 2013 Portfolio in Review

As of Q4 2013, Cowen Inc held 335 positions worth $595M, down 12% from $678M the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Cowen Inc withdrew a net $109M in Q4 2013, closing 120 positions and reducing 41 holdings. Its most notable exit was State Street SPDR S&P MIDCAP 400 ETF Trust, an estimated $97.4M position sold in full.

By sector, the portfolio is most concentrated in Technology at 7.1% of assets, up from 2.2% a quarter earlier, followed by Industrials and Energy.

Against the trend, Cowen Inc opened a new position in Omnicom Group worth $17.4M.

  • Cowen Inc's largest Q4 2013 buy was Omnicom Group: 234,006 shares worth $17.4M.
  • Cowen Inc added most to Cowen Inc. Class A Common Stock in Q4 2013, an estimated $10.4M increase.
  • Cowen Inc's biggest Q4 2013 reduction was LENDER PROCESSING SERVICES INC, cutting an estimated $5.66M.
  • Cowen Inc fully exited State Street SPDR S&P MIDCAP 400 ETF Trust in Q4 2013, selling an estimated $97.4M.
  • Cowen Inc's ten largest holdings make up 41% of its $595M portfolio in Q4 2013.
  • Cowen Inc opened 118 new positions and closed 120 in Q4 2013.
  • Cowen Inc's portfolio value fell 12% quarter-over-quarter to $595M.

Based on Cowen Inc's 13F filing for Q4 2013, filed 13 Feb 2014.