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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
+0.34%
1 Year Est. Return
-1.47%
3 Year Est. Return
+1.87%
5 Year Est. Return
-37.7%
10 Year Est. Return
–
AUM
$168M
AUM Growth
-$216M
Cap. Flow
-$176M
Cap. Flow %
-105.21%
Top 10 Hldgs %
66.6%
Holding
125
New
10
Increased
14
Reduced
5
Closed
79

Top Buys

Rank Stock Value
1
KCGI
Kensington Capital Acquisition Corp. V
KCGI
+$9.97M
2
STHO icon
Star Holdings Shares of Beneficial Interest
STHO
+$6.88M
3
DNAD
Social Capital Suvretta Holdings Corp. IV Class A Ordinary Shares
DNAD
+$4.65M
4
PFTA
Perception Capital Corp. III Class A Ordinary Share
PFTA
+$4.12M
5
JGGC
Jaguar Global Growth Corporation I Class A Ordinary Shares
JGGC
+$3.68M

Top Sells

Rank Stock Value
1
CVII
Churchill Capital Corp VII Class A Common Stock
CVII
+$26.2M
2
CCVI
Churchill Capital Corp VI
CCVI
+$13.4M
3
TCVA
TCV Acquisition Corp. Class A Ordinary Shares
TCVA
+$12.7M
4
MTVC
Motive Capital Corp II
MTVC
+$10.7M
5
SMFG icon
Sumitomo Mitsui Financial
SMFG
+$9.85M

Sector Composition

Rank Sector Weight
1 Financials 64.6%
2 Consumer Discretionary 7.57%
3 Real Estate 5.78%
4 Industrials 4.51%
5 Technology 4.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HMA
26
DELISTED
Heartland Media Acquisition Corp.
HMA
$1.05M 0.63%
+100,000
New +$1.05M
CDAQU
27
DELISTED
Compass Digital Acquisition Corp. Unit
CDAQU
$1.04M 0.62%
100,000
– –
LBRDA icon
28
Liberty Broadband Class A
LBRDA
$5.33B
$1.01M 0.6%
12,682
– –
SIRI icon
29
PUT
SiriusXM
SIRI
$9.61B
$946K 0.56%
42,140
+1,480
+4% +$55.9K
SSYS icon
30
Stratasys
SSYS
$782M
$884K 0.53%
+49,800
New +$780K
TRTL
31
DELISTED
TortoiseEcofin Acquisition Corp. III
TRTL
$830K 0.5%
+80,000
New +$823K
SWSS
32
DELISTED
Clean Energy Special Situations Corp. Common stock
SWSS
$712K 0.42%
68,850
-80,776
-54% -$831K
PEGR
33
DELISTED
Project Energy Reimagined Acquisition Corp. Class A Ordinary Share
PEGR
$622K 0.37%
+60,000
New +$617K
SKGR
34
DELISTED
SK Growth Opportunities Corporation Class A Common Stock
SKGR
$530K 0.32%
50,000
– –
HMA.U
35
DELISTED
Heartland Media Acquisition Corp. Units, each consisting of one share of Class A common stock and one-half of one redeemable warrant
HMA.U
$528K 0.32%
50,000
– –
NNDM
36
Nano Dimension
NNDM
$349M
$462K 0.28%
160,000
+86,800
+119% +$215K
FRG
37
DELISTED
Franchise Group, Inc.
FRG
$286K 0.17%
+10,000
New +$287K
VATE icon
38
INNOVATE Corp
VATE
$102M
$219K 0.13%
12,500
+6,000
+92% +$129K
SPY icon
39
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$807B
$215K 0.13%
152,100
+87,100
+134% +$36.6M
LBRDK icon
40
Liberty Broadband Class C
LBRDK
$5.32B
$204K 0.12%
2,550
– –
STCN
41
DELISTED
Steel Connect, Inc. Common Stock
STCN
$174K 0.1%
20,730
– –
LTRPA
42
DELISTED
Liberty TripAdvisor Holdings, Inc. Series A
LTRPA
$106K 0.06%
162,974
-65,000
-29% -$45.1K
AVPTW
43
DELISTED
AvePoint Inc Warrant
AVPTW
$22.6K 0.01%
25,000
– –
DDD icon
44
PUT
3D Systems Corp
DDD
$633M
$6.21K ﹤0.01%
+41,400
New +$379K
BMTX.WS
45
DELISTED
BM Technologies, Inc. Warrants, each warrant exercisable for one share of Common Stock at an exercise price of $11.50
BMTX.WS
$3.75K ﹤0.01%
25,000
– –
FATH.WS
46
DELISTED
Fathom Digital Manufacturing Corporation Warrants, each whole warrant exercisable for one Class A Common Stock at an exercise price of $11.50 per share
FATH.WS
$325 ﹤0.01%
25,000
– –
AMBP.WS
47
DELISTED
Ardagh Metal Packaging Warrants
AMBP.WS
– –
-25,000
Closed -$6.5K
DTI icon
48
Drilling Tools International
DTI
$86.4M
– –
-150,000
Closed -$1.57M
FLYX icon
49
flyExclusive
FLYX
$68.4M
– –
-350,000
Closed -$3.56M
GRABW icon
50
Grab Holdings Warrant
GRABW
$790K
– –
-19,900
Closed -$11.5K
1
2
3 4 5

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AMG
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B
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XS
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AH
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MFAM
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ZIMP
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RCI
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Cowen Investment Management's Q2 2023 Portfolio in Review

As of Q2 2023, Cowen Investment Management held 125 positions worth $168M, down 56% from $383M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Cowen Investment Management withdrew a net $176M in Q2 2023, closing 79 positions and reducing 5 holdings. Its most notable exit was Churchill Capital Corp VII Class A Common Stock, an estimated $26.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 65% of assets, down from 67% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Cowen Investment Management opened a new position in Kensington Capital Acquisition Corp. V worth $10M.

  • Cowen Investment Management's largest Q2 2023 buy was Kensington Capital Acquisition Corp. V: 950,000 shares worth $10M.
  • Cowen Investment Management added most to Star Holdings Shares of Beneficial Interest in Q2 2023, an estimated $6.88M increase.
  • Cowen Investment Management's biggest Q2 2023 reduction was Sumitomo Mitsui Financial, cutting an estimated $9.85M.
  • Cowen Investment Management fully exited Churchill Capital Corp VII Class A Common Stock in Q2 2023, selling an estimated $26.2M.
  • Cowen Investment Management's ten largest holdings make up 67% of its $168M portfolio in Q2 2023.
  • Cowen Investment Management opened 10 new positions and closed 79 in Q2 2023.
  • Cowen Investment Management's portfolio value fell 56% quarter-over-quarter to $168M.

Based on Cowen Investment Management's 13F filing for Q2 2023, filed 15 Aug 2023.