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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
ARIA
201
DELISTED
Ariad Pharmaceuticals Inc
ARIA
$102K 0.02%
15,000
-30,000
-67% -$162K
NBIX icon
202
CALL
Neurocrine Biosciences
NBIX
$16.8B
$93K 0.02%
10,000
– –
PRKR
203
DELISTED
Parkervision Inc
PRKR
$91K 0.02%
2,000
-800
-29% -$30.9K
AMAT icon
204
Applied Materials
AMAT
$405B
$88K 0.01%
5,000
-82,500
-94% -$1.44M
SGEN
205
DELISTED
Seagen Inc. Common Stock
SGEN
$80K 0.01%
2,000
– –
ATRS
206
DELISTED
Antares Pharma, Inc.
ATRS
$67K 0.01%
+15,000
New +$61.1K
RLJE
207
DELISTED
RLJ Entertainment, Inc.
RLJE
$65K 0.01%
4,501
– –
MYGN icon
208
Myriad Genetics
MYGN
$280M
$63K 0.01%
+3,000
New +$75.9K
GERN icon
209
Geron
GERN
$815M
$59K 0.01%
+13,225
New +$56.7K
ARNA
210
DELISTED
Arena Pharmaceuticals Inc
ARNA
$59K 0.01%
1,000
– –
ACHN
211
DELISTED
Achillion Pharmaceuticals
ACHN
$50K 0.01%
15,000
+14,900
+14,900% +$43.2K
AGIG
212
Abundia Global Impact Group
AGIG
$41.5M
$10K ﹤0.01%
304
– –
SLM icon
213
PUT
SLM Corp
SLM
$4.87B
$6K ﹤0.01%
+560
New +$5.15K
A icon
214
Agilent Technologies
A
$38.6B
– –
-12,582
Closed -$461K
ADBE icon
215
CALL
Adobe
ADBE
$98.2B
– –
-15,100
Closed -$784K
AMAT icon
216
PUT
Applied Materials
AMAT
$405B
– –
-85,000
Closed -$1.49M
BAC icon
217
CALL
Bank of America
BAC
$436B
– –
-26,100
Closed -$360K
BALL icon
218
CALL
Ball Corp
BALL
$17.2B
– –
-21,800
Closed -$489K
BAX icon
219
Baxter International
BAX
$13.5B
– –
-27,615
Closed -$985K
BAX icon
220
PUT
Baxter International
BAX
$13.5B
– –
-36,820
Closed -$1.31M
BB icon
221
PUT
BlackBerry
BB
$4.99B
– –
-207,300
Closed -$1.65M
BIIB icon
222
CALL
Biogen
BIIB
$30.2B
– –
-3,500
Closed -$843K
BTG icon
223
B2Gold
BTG
$4.97B
– –
-25,000
Closed -$62K
CCL icon
224
CALL
Carnival Corporation Ltd
CCL
$37.9B
– –
-20,000
Closed -$653K
CCK icon
225
CALL
Crown Holdings
CCK
$12.8B
– –
-20,000
Closed -$846K
7 8
9
10 11

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LC
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LIC
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CB
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HA
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KPAG
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CW
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SIM
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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.