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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
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$80.2B
$59.9M 10.06%
+519,000
New +$57.3M
LIFE
2
DELISTED
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
$33.9M 5.7%
446,989
+46,721
+12% +$3.52M
SPY icon
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$31.6M 5.31%
171,000
-163,000
-49% -$28.8M
SLM icon
4
CALL
SLM Corp
SLM
$4.86B
$23.9M 4.02%
2,546,180
+1,514,837
+147% +$13.9M
LAMR icon
5
CALL
Lamar Advertising Co
LAMR
$16.3B
$18M 3.03%
+344,500
New +$16.8M
OMC icon
6
Omnicom Group
OMC
$21.8B
$17.4M 2.93%
+234,006
New +$16.1M
COWN
7
DELISTED
Cowen Inc. Class A Common Stock
COWN
$16.9M 2.84%
1,079,123
+680,550
+171% +$10.4M
LAMR icon
8
PUT
Lamar Advertising Co
LAMR
$16.3B
$15.5M 2.61%
+296,800
New +$14.5M
FNF icon
9
CALL
Fidelity National Financial
FNF
$14B
$14.3M 2.41%
+773,649
New +$12.5M
BKLN icon
10
Invesco Senior Loan ETF
BKLN
$6.97B
$13.2M 2.22%
530,803
-108,480
-17% -$2.69M
LEAP
11
PUT
DELISTED
LEAP WIRELESS INTERNATIONAL INC NEW
LEAP
$11.7M 1.96%
669,900
+206,100
+44% +$3.39M
LYB icon
12
CALL
LyondellBasell Industries
LYB
$19.5B
$9.93M 1.67%
123,700
+19,100
+18% +$1.46M
HAL icon
13
CALL
Halliburton
HAL
$26.4B
$7.99M 1.34%
157,500
-142,800
-48% -$7.38M
AMAT icon
14
CALL
Applied Materials
AMAT
$398B
$7.36M 1.24%
+416,200
New +$7.25M
VMW
15
PUT
DELISTED
VMware, Inc
VMW
$6.09M 1.02%
+67,900
New +$5.61M
SYY icon
16
CALL
Sysco
SYY
$40.6B
$5.43M 0.91%
+150,400
New +$5.08M
LIFE
17
CALL
DELISTED
LIFE TECHNOLOGIES CORP COM STK (DE)
LIFE
$5.21M 0.88%
68,800
– –
RIG icon
18
CALL
Transocean
RIG
$5.62B
$5.17M 0.87%
+104,700
New +$5.12M
ASH icon
19
PUT
Ashland
ASH
$3.33B
$5.04M 0.85%
+106,084
New +$4.74M
APD icon
20
Air Products & Chemicals
APD
$66.8B
$5M 0.84%
+48,321
New +$4.87M
LINE
21
CALL
DELISTED
LINN ENERGY LLC COM UTS REP LTD LIABILITY CO INTS
LINE
$4.9M 0.82%
159,100
+56,600
+55% +$1.64M
VHC icon
22
VirnetX Holding Corp
VHC
$54.7M
$4.78M 0.8%
12,308
+5,090
+71% +$2.03M
LNW
23
DELISTED
Light & Wonder
LNW
$4.74M 0.8%
279,701
-13,500
-5% -$238K
ASH icon
24
Ashland
ASH
$3.33B
$4.66M 0.78%
98,047
+88,812
+962% +$3.97M
SWY
25
PUT
DELISTED
SAFEWAY INC
SWY
$4.59M 0.77%
+157,385
New +$4.72M
1
2 3 4 5

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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.