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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
+8.85%
1 Year Est. Return
+60.14%
3 Year Est. Return
+251.81%
5 Year Est. Return
+491.3%
10 Year Est. Return
–
AUM
$2.41B
AUM Growth
+$718M
Cap. Flow
+$656M
Cap. Flow %
27.24%
Top 10 Hldgs %
53.37%
Holding
348
New
118
Increased
54
Reduced
63
Closed
104

Top Buys

Rank Stock Value
1
NXPI icon
NXP Semiconductors
NXPI
+$225M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$130M
3
LVLT
Level 3 Communications Inc
LVLT
+$86M
4
SE
Spectra Energy Corp Wi
SE
+$82.7M
5
TWX
Time Warner Inc
TWX
+$60.6M

Top Sells

Rank Stock Value
1
LNKD
LinkedIn Corporation
LNKD
+$227M
2
SYT
Syngenta Ag
SYT
+$118M
3
STJ
St Jude Medical
STJ
+$86.3M
4
YHOO
Yahoo Inc
YHOO
+$79.4M
5
ACAS
American Capital Ltd
ACAS
+$29.5M

Sector Composition

Rank Sector Weight
1 Technology 18.54%
2 Industrials 8.11%
3 Healthcare 4.73%
4 Communication Services 4.48%
5 Energy 3.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NXPI icon
1
NXP Semiconductors
NXPI
$61.8B
$223M 9.28%
2,279,115
+2,264,740
+15,755% +$225M
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$80.2B
$162M 6.72%
1,198,800
+69,900
+6% +$8.93M
SPY icon
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$156M 6.47%
696,300
+395,800
+132% +$86.5M
EWJ icon
4
CALL
iShares MSCI Japan ETF
EWJ
$22.1B
$135M 5.6%
2,755,600
+2,476,325
+887% +$124M
SPY icon
5
State Street SPDR S&P 500 ETF Trust
SPY
$784B
$134M 5.57%
600,000
+596,506
+17,072% +$130M
LLTC
6
DELISTED
Linear Technology Corp
LLTC
$123M 5.09%
1,966,296
+672,731
+52% +$41M
STJ
7
DELISTED
St Jude Medical
STJ
$99.8M 4.15%
1,244,421
-1,087,711
-47% -$86.3M
LVLT
8
DELISTED
Level 3 Communications Inc
LVLT
$91.7M 3.81%
+1,627,165
New +$86M
SE
9
DELISTED
Spectra Energy Corp Wi
SE
$87.1M 3.62%
2,119,277
+1,996,024
+1,619% +$82.7M
TWX
10
DELISTED
Time Warner Inc
TWX
$73.7M 3.06%
763,151
+681,309
+832% +$60.6M
HEDJ icon
11
CALL
WisdomTree Europe Hedged Equity Fund
HEDJ
$1.84B
$69.6M 2.89%
2,424,800
+1,937,200
+397% +$53M
SMH icon
12
PUT
VanEck Semiconductor ETF
SMH
$65B
$60.4M 2.51%
+1,687,400
New +$58.9M
HW
13
DELISTED
Headwaters Inc
HW
$56.3M 2.34%
+2,392,282
New +$48.6M
WNR
14
DELISTED
Western Refining Inc
WNR
$54.2M 2.25%
+1,432,336
New +$47.1M
BEAV
15
DELISTED
B/E Aerospace Inc
BEAV
$49.3M 2.05%
+818,976
New +$47.1M
JOY
16
DELISTED
Joy Global Inc
JOY
$47.6M 1.98%
1,698,816
+1,478,292
+670% +$41.3M
ACAS
17
DELISTED
American Capital Ltd
ACAS
$41.3M 1.72%
2,304,940
-1,715,190
-43% -$29.5M
DD icon
18
DuPont de Nemours
DD
$18.7B
$36M 1.5%
248,651
+232,756
+1,464% +$32.4M
BRCD
19
DELISTED
Brocade Communications Systems, Inc. NEW
BRCD
$35.7M 1.48%
+2,858,766
New +$32.2M
SWC
20
DELISTED
Stillwater Mining Co
SWC
$28.6M 1.19%
+1,778,072
New +$25.4M
T icon
21
PUT
AT&T
T
$159B
$26M 1.08%
+810,420
New +$23.9M
DELL icon
22
Dell
DELL
$262B
$24.2M 1.01%
1,568,359
+1,476,848
+1,614% +$21.2M
LUMN icon
23
CALL
Lumen
LUMN
$6.76B
$23.6M 0.98%
+992,000
New +$25.2M
NXPI icon
24
CALL
NXP Semiconductors
NXPI
$61.8B
$22M 0.91%
+224,100
New +$22.3M
BKLN icon
25
PUT
Invesco Senior Loan ETF
BKLN
$6.97B
$21.6M 0.9%
926,200
+302,500
+49% +$7.02M
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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Cowen Inc's Q4 2016 Portfolio in Review

As of Q4 2016, Cowen Inc held 348 positions worth $2.41B, up 43% from $1.69B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Cowen Inc deployed $656M of net new capital in Q4 2016, opening 118 new positions and adding to 54 existing holdings. Its largest new stake was Level 3 Communications Inc: 1,627,165 shares worth $91.7M.

By sector, the portfolio is most concentrated in Technology at 19% of assets, up from 11% a quarter earlier, followed by Industrials and Healthcare.

On the sell side, the largest reduction was St Jude Medical, an estimated $86.3M trimmed.

  • Cowen Inc's largest Q4 2016 buy was Level 3 Communications Inc: 1,627,165 shares worth $91.7M.
  • Cowen Inc added most to NXP Semiconductors in Q4 2016, an estimated $225M increase.
  • Cowen Inc's biggest Q4 2016 reduction was St Jude Medical, cutting an estimated $86.3M.
  • Cowen Inc fully exited LinkedIn Corporation in Q4 2016, selling an estimated $227M.
  • Cowen Inc's ten largest holdings make up 53% of its $2.41B portfolio in Q4 2016.
  • Cowen Inc opened 118 new positions and closed 104 in Q4 2016.
  • Cowen Inc's portfolio value rose 43% quarter-over-quarter to $2.41B.

Based on Cowen Inc's 13F filing for Q4 2016, filed 13 Feb 2017.