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CIM

Cowen Investment Management Portfolio holdings

AUM $12M
1-Year Est. Return 1.47%
This Fund
S&P 500
This Quarter Est. Return
-18.46%
1 Year Est. Return
-1.47%
3 Year Est. Return
+1.87%
5 Year Est. Return
-37.7%
10 Year Est. Return
–
AUM
$174M
AUM Growth
-$135M
Cap. Flow
-$73.3M
Cap. Flow %
-42.03%
Top 10 Hldgs %
89.85%
Holding
110
New
15
Increased
4
Reduced
11
Closed
69

Top Buys

Rank Stock Value
1
SMFG icon
Sumitomo Mitsui Financial
SMFG
+$70.9M
2
HPK icon
HighPeak Energy
HPK
+$23.9M
3
HSBC icon
HSBC
HSBC
+$9.03M
4
MFG icon
Mizuho Financial
MFG
+$5.41M
5
YTRA icon
Yatra Online
YTRA
+$2.37M

Top Sells

Rank Stock Value
1
BP icon
BP
BP
+$22.7M
2
RIO icon
Rio Tinto
RIO
+$12.2M
3
CEF icon
Sprott Physical Gold and Silver Trust
CEF
+$10.1M
4
HOFV
Hall of Fame Resort & Entertainment Co
HOFV
+$6.35M
5
VVNT
Vivint Smart Home, Inc. Class A Common Stock
VVNT
+$5.66M

Sector Composition

Rank Sector Weight
1 Financials 46.79%
2 Energy 27.7%
3 Communication Services 11.58%
4 Consumer Staples 3.61%
5 Healthcare 1.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HYG icon
26
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.9B
$289K 0.17%
+50,000
New +$4.22M
CHNGU
27
DELISTED
Change Healthcare Inc. Tangible Equity Units
CHNGU
$238K 0.14%
5,800
– –
DPHCW
28
DELISTED
DiamondPeak Holdings Corp. Warrant
DPHCW
$180K 0.1%
400,000
– –
QQQ icon
29
PUT
Invesco QQQ Trust
QQQ
$481B
$168K 0.1%
+10,000
New +$2.12M
BTRSW
30
DELISTED
BTRS Holdings Inc. Warrants
BTRSW
$141K 0.08%
150,000
– –
PTACW
31
DELISTED
PropTech Acquisition Corporation Warrant
PTACW
$105K 0.06%
+150,000
New +$162K
ING icon
32
ING
ING
$102B
$104K 0.06%
+20,155
New +$194K
ACET icon
33
Adicet Bio
ACET
$77.3M
$100K 0.06%
+866
New +$129K
CCH.WS
34
DELISTED
Collier Creek Holdings Warrants, each whole warrant exercisable for one Class A ordinary share at an
CCH.WS
$90K 0.05%
66,666
– –
LGC.WS
35
DELISTED
Legacy Acquisition Corp. Warrants, exercisable for one-half of one share of Class A Common Stock for
LGC.WS
$69K 0.04%
275,000
-125,000
-31% -$60.8K
FPAC.WS
36
DELISTED
Far Point Acquisition Corporation Warrants, exercisable for one share of Class A Common Stock for $1
FPAC.WS
$54K 0.03%
100,000
-50,000
-33% -$74.1K
MUDSW
37
DELISTED
Mudrick Capital Acquisition Corporation Warrant
MUDSW
$44K 0.03%
125,000
-125,000
-50% -$81.1K
MAPSW
38
DELISTED
WM TECHNOLOGY INC WTS
MAPSW
$39K 0.02%
+100,000
New +$43.1K
NEBUW
39
DELISTED
Nebula Acquisition Corporation Warrant
NEBUW
$34K 0.02%
33,333
– –
LTRYW icon
40
Sports Entertainment Gaming Global Corp Warrants
LTRYW
$735
$15K 0.01%
154,300
– –
LACQW
41
DELISTED
Leisure Acquisition Corp. Warrant
LACQW
$12K 0.01%
+68,500
New +$51.1K
ALTG icon
42
Alta Equipment Group
ALTG
$254M
– –
-300,000
Closed -$3M
BP icon
43
BP
BP
$111B
– –
-600,187
Closed -$22.7M
CEF icon
44
Sprott Physical Gold and Silver Trust
CEF
$8.32B
– –
-685,872
Closed -$10.1M
CHR icon
45
Cheer Holding
CHR
$3.43M
– –
-133
Closed -$2.06M
FWONA icon
46
Liberty Media Series A
FWONA
$23.7B
– –
-96,206
Closed -$4.03M
GB
47
DELISTED
Global Blue Group Holding
GB
– –
-375,000
Closed -$3.87M
GDYN icon
48
Grid Dynamics Holdings
GDYN
$632M
– –
-200,000
Closed -$2.17M
GLD icon
49
PUT
SPDR Gold Trust
GLD
$144B
– –
-50,000
Closed -$7K
HOFV
50
DELISTED
Hall of Fame Resort & Entertainment Co
HOFV
– –
-38,755
Closed -$6.35M
1
2
3 4 5

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MFAM
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ZIMP
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RCI
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Cowen Investment Management's Q1 2020 Portfolio in Review

As of Q1 2020, Cowen Investment Management held 110 positions worth $174M, down 44% from $310M the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Cowen Investment Management withdrew a net $73.3M in Q1 2020, closing 69 positions and reducing 11 holdings. Its most notable exit was BP, an estimated $22.7M position sold in full.

By sector, the portfolio is most concentrated in Financials at 47% of assets, up from 14% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Cowen Investment Management opened a new position in Sumitomo Mitsui Financial worth $52.7M.

  • Cowen Investment Management's largest Q1 2020 buy was Sumitomo Mitsui Financial: 11,000,000 shares worth $52.7M.
  • Cowen Investment Management added most to HighPeak Energy in Q1 2020, an estimated $23.9M increase.
  • Cowen Investment Management's biggest Q1 2020 reduction was Lloyds Banking Group, cutting an estimated $4.76M.
  • Cowen Investment Management fully exited BP in Q1 2020, selling an estimated $22.7M.
  • Cowen Investment Management's ten largest holdings make up 90% of its $174M portfolio in Q1 2020.
  • Cowen Investment Management opened 15 new positions and closed 69 in Q1 2020.
  • Cowen Investment Management's portfolio value fell 44% quarter-over-quarter to $174M.

Based on Cowen Investment Management's 13F filing for Q1 2020, filed 14 May 2020.