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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
+9.72%
1 Year Est. Return
+60.14%
3 Year Est. Return
+251.81%
5 Year Est. Return
+491.3%
10 Year Est. Return
–
AUM
$1.37B
AUM Growth
-$296M
Cap. Flow
-$347M
Cap. Flow %
-25.26%
Top 10 Hldgs %
45.03%
Holding
399
New
155
Increased
43
Reduced
65
Closed
104

Top Buys

Rank Stock Value
1
EMC
EMC CORPORATION
EMC
+$83.6M
2
SNDK
SANDISK CORP
SNDK
+$47.9M
3
AGN
Allergan plc
AGN
+$38.7M
4
SYA
SYMETRA FINANCIAL CORPORATION COMMON STOCK
SYA
+$38.3M
5
HPY
HEARTLAND PAYMENT SYSTEMS, INC. COM STK
HPY
+$18.6M

Top Sells

Rank Stock Value
1
CI icon
Cigna
CI
+$97.3M
2
CB
CHUBB CORPORATION
CB
+$77.2M
3
XIV
VelocityShares Daily Inverse VIX Short Term ETN
XIV
+$40.4M
4
ALTR
Altera Corp
ALTR
+$34M
5
HUM icon
Humana
HUM
+$32.8M

Sector Composition

Rank Sector Weight
1 Industrials 11.09%
2 Healthcare 9.25%
3 Technology 8.98%
4 Financials 4.97%
5 Consumer Discretionary 4.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$80.2B
$115M 8.41%
1,024,400
-500,500
-33% -$57.7M
BRCM
2
DELISTED
BROADCOM CORP CL-A
BRCM
$103M 7.5%
1,779,468
-115,551
-6% -$6.22M
EMC
3
DELISTED
EMC CORPORATION
EMC
$86.6M 6.31%
3,374,117
+3,220,057
+2,090% +$83.6M
PCP
4
DELISTED
PRECISION CASTPARTS CORP
PCP
$83M 6.05%
357,874
-105,222
-23% -$24.3M
AGN
5
DELISTED
Allergan plc
AGN
$51.8M 3.78%
165,821
+129,943
+362% +$38.7M
SNDK
6
DELISTED
SANDISK CORP
SNDK
$49.7M 3.62%
+654,587
New +$47.9M
SYA
7
DELISTED
SYMETRA FINANCIAL CORPORATION COMMON STOCK
SYA
$39M 2.85%
1,229,161
+1,209,161
+6,046% +$38.3M
HUM icon
8
Humana
HUM
$44B
$35.9M 2.61%
201,000
-186,677
-48% -$32.8M
NXPI icon
9
PUT
NXP Semiconductors
NXPI
$61.8B
$28.2M 2.05%
+250,000
New +$21.4M
GMCR
10
CALL
DELISTED
KEURIG GREEN MTN INC
GMCR
$25.4M 1.85%
+282,100
New +$17.5M
AVGO icon
11
CALL
Broadcom
AVGO
$1.85T
$25.2M 1.83%
1,733,000
-1,933,000
-53% -$25.1M
AGN
12
CALL
DELISTED
Allergan plc
AGN
$24.8M 1.81%
+79,300
New +$23.6M
HPY
13
DELISTED
HEARTLAND PAYMENT SYSTEMS, INC. COM STK
HPY
$22.8M 1.66%
+240,810
New +$18.6M
DYAX
14
PUT
DELISTED
DYAX CORPORATION
DYAX
$21.4M 1.56%
+568,100
New +$18.3M
ARG
15
CALL
DELISTED
Airgas Inc
ARG
$17.5M 1.28%
+126,700
New +$14.6M
PFE icon
16
PUT
Pfizer
PFE
$142B
$16.7M 1.22%
+544,918
New +$17.1M
RDS.B
17
CALL
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$16M 1.17%
347,300
-23,000
-6% -$1.16M
ATML
18
DELISTED
ATMEL CORP
ATML
$13.7M 1%
1,593,940
+886,467
+125% +$7.43M
BKLN icon
19
PUT
Invesco Senior Loan ETF
BKLN
$6.97B
$13.6M 0.99%
605,800
+52,000
+9% +$1.18M
EWJ icon
20
CALL
iShares MSCI Japan ETF
EWJ
$22.1B
$13.5M 0.99%
279,275
+68,125
+32% +$3.34M
VMW
21
CALL
DELISTED
VMware, Inc
VMW
$13.4M 0.98%
+237,200
New +$14.8M
RAD
22
DELISTED
Rite Aid Corporation
RAD
$12.5M 0.91%
+79,675
New +$11.8M
ODP
23
DELISTED
ODP
ODP
$12.4M 0.9%
219,015
+217,015
+10,851% +$14.5M
DBA icon
24
CALL
Invesco DB Agriculture Fund
DBA
$1.23B
$12.3M 0.89%
594,600
– –
XHB icon
25
CALL
State Street SPDR S&P Homebuilders ETF
XHB
$1.61B
$11.6M 0.84%
339,100
+160,500
+90% +$5.71M
1
2 3 4 5

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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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Cowen Inc's Q4 2015 Portfolio in Review

As of Q4 2015, Cowen Inc held 399 positions worth $1.37B, down 18% from $1.67B the previous quarter. Its ten largest holdings account for 45% of the portfolio.

Cowen Inc withdrew a net $347M in Q4 2015, closing 104 positions and reducing 65 holdings. Its most notable exit was VelocityShares Daily Inverse VIX Short Term ETN, an estimated $40.4M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 11% of assets, up from 9.6% a quarter earlier, followed by Healthcare and Technology.

Against the trend, Cowen Inc opened a new position in SANDISK CORP worth $49.7M.

  • Cowen Inc's largest Q4 2015 buy was SANDISK CORP: 654,587 shares worth $49.7M.
  • Cowen Inc added most to EMC CORPORATION in Q4 2015, an estimated $83.6M increase.
  • Cowen Inc's biggest Q4 2015 reduction was Cigna, cutting an estimated $97.3M.
  • Cowen Inc fully exited VelocityShares Daily Inverse VIX Short Term ETN in Q4 2015, selling an estimated $40.4M.
  • Cowen Inc's ten largest holdings make up 45% of its $1.37B portfolio in Q4 2015.
  • Cowen Inc opened 155 new positions and closed 104 in Q4 2015.
  • Cowen Inc's portfolio value fell 18% quarter-over-quarter to $1.37B.

Based on Cowen Inc's 13F filing for Q4 2015, filed 9 Feb 2016.