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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
NIHD
176
CALL
DELISTED
NII HOLDINGS INC CL B
NIHD
$388K 0.07%
140,900
+130,300
+1,229% +$480K
CRM icon
177
PUT
Salesforce
CRM
$149B
$386K 0.06%
+7,000
New +$374K
COF icon
178
Capital One
COF
$127B
$383K 0.06%
5,000
-50
-1% -$3.56K
VRTX icon
179
CALL
Vertex Pharmaceuticals
VRTX
$120B
$372K 0.06%
+5,000
New +$348K
ACHN
180
CALL
DELISTED
Achillion Pharmaceuticals
ACHN
$332K 0.06%
100,000
– –
VNDA icon
181
Vanda Pharmaceuticals
VNDA
$302M
$310K 0.05%
+25,000
New +$251K
XOM icon
182
ExxonMobil
XOM
$637B
$301K 0.05%
2,971
– –
SUNE
183
CALL
DELISTED
SUNEDISON, INC COM
SUNE
$301K 0.05%
+23,000
New +$259K
VER
184
CALL
DELISTED
VEREIT, Inc.
VER
$294K 0.05%
4,580
-28,220
-86% -$1.83M
EWC icon
185
iShares MSCI Canada ETF
EWC
$6.14B
$292K 0.05%
10,000
– –
UNH icon
186
UnitedHealth
UNH
$382B
$286K 0.05%
3,800
+1,000
+36% +$71.8K
UNH icon
187
PUT
UnitedHealth
UNH
$382B
$286K 0.05%
+3,800
New +$273K
CRM icon
188
Salesforce
CRM
$149B
$276K 0.05%
+5,000
New +$267K
ROC
189
CALL
DELISTED
ROCKWOOD HLDGS INC
ROC
$273K 0.05%
3,800
-52,000
-93% -$3.54M
SN
190
DELISTED
Sanchez Energy Corporation
SN
$266K 0.04%
10,857
-18,633
-63% -$495K
RGP
191
DELISTED
REGENCY ENERGY PARTNERS LP COMMON UTS REP LIMITED PART INTS
RGP
$263K 0.04%
10,000
– –
CY
192
PUT
DELISTED
Cypress Semiconductor
CY
$263K 0.04%
25,000
– –
CEMP
193
DELISTED
Cempra, Inc.
CEMP
$248K 0.04%
+20,000
New +$242K
MCK icon
194
McKesson
MCK
$100B
$242K 0.04%
+1,500
New +$230K
SNDA icon
195
PUT
Sonida Senior Living
SNDA
$1.89B
$240K 0.04%
+667
New +$222K
CBST
196
DELISTED
CUBIST PHARMACEUTICALS INC
CBST
$207K 0.03%
+3,000
New +$194K
TTPH
197
DELISTED
Tetraphase Pharmaceuticals, Inc.
TTPH
$203K 0.03%
+750
New +$179K
JNJ icon
198
Johnson & Johnson
JNJ
$622B
$165K 0.03%
1,800
-33,200
-95% -$3.06M
LSI
199
DELISTED
LSI CORPORATION
LSI
$143K 0.02%
+12,994
New +$111K
MNKD icon
200
MannKind Corp
MNKD
$1.2B
$125K 0.02%
4,800
+3,000
+167% +$76.3K
6 7
8
9 10

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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.