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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
+1.39%
1 Year Est. Return
-1.47%
3 Year Est. Return
+1.87%
5 Year Est. Return
-37.7%
10 Year Est. Return
–
AUM
$238M
AUM Growth
+$81M
Cap. Flow
+$70.3M
Cap. Flow %
29.56%
Top 10 Hldgs %
48.01%
Holding
113
New
65
Increased
6
Reduced
13
Closed
10

Top Buys

Rank Stock Value
1
CEF icon
Sprott Physical Gold and Silver Trust
CEF
+$7.39M
2
MVST icon
Microvast
MVST
+$6.86M
3
AMCX icon
AMC Global Media
AMCX
+$6.65M
4
ASLE icon
AerSale
ASLE
+$6.17M
5
CCIV.U
Churchill Capital Corp IV Units, each consisting of one share of Class A common stock and one-fifth
CCIV.U
+$4M

Top Sells

Rank Stock Value
1
GB
Global Blue Group Holding
GB
+$10.8M
2
SPAQ.U
Spartan Energy Acquisition Corp Units (each consisting of one Class A Common Stock and one-third of
SPAQ.U
+$7.72M
3
SPRU icon
Spruce Power Holding Corp
SPRU
+$5.78M
4
GRNVU
GreenVision Acquisition Corp Unit
GRNVU
+$3.62M
5
UL icon
Unilever
UL
+$3.42M

Sector Composition

Rank Sector Weight
1 Financials 35.11%
2 Consumer Discretionary 6.39%
3 Industrials 3.3%
4 Communication Services 3.18%
5 Technology 2.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LGC.WS
101
DELISTED
Legacy Acquisition Corp. Warrants, exercisable for one-half of one share of Class A Common Stock for
LGC.WS
$66K 0.03%
122,825
-152,175
-55% -$63.6K
MAPSW
102
DELISTED
WM TECHNOLOGY INC WTS
MAPSW
$61K 0.03%
100,000
– –
LTRYW icon
103
Sports Entertainment Gaming Global Corp Warrants
LTRYW
$735
$57K 0.02%
154,300
– –
GB
104
DELISTED
Global Blue Group Holding
GB
– –
-1,050,000
Closed -$10.8M
SPRU icon
105
Spruce Power Holding Corp
SPRU
$38.9M
– –
-71,151
Closed -$5.78M
DM
106
DELISTED
Desktop Metal, Inc.
DM
– –
-10,000
Closed -$1.04M
CHNGU
107
DELISTED
Change Healthcare Inc. Tangible Equity Units
CHNGU
– –
-5,800
Closed -$251K
GRNVU
108
DELISTED
GreenVision Acquisition Corp Unit
GRNVU
– –
-350,000
Closed -$3.62M
DMYT.U
109
DELISTED
dMY Technology Group, Inc. Units, each consisting of one share of Class A Common Stock and one-half
DMYT.U
– –
-100,000
Closed -$1.06M
DPHCW
110
DELISTED
DiamondPeak Holdings Corp. Warrant
DPHCW
– –
-400,000
Closed -$704K
CCH.WS
111
DELISTED
Collier Creek Holdings Warrants, each whole warrant exercisable for one Class A ordinary share at an
CCH.WS
– –
-66,666
Closed -$217K
FPAC.WS
112
DELISTED
Far Point Acquisition Corporation Warrants, exercisable for one share of Class A Common Stock for $1
FPAC.WS
– –
-100,000
Closed -$50K
TERP
113
DELISTED
TerraForm Power, Inc
TERP
– –
-36,094
Closed -$666K
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 Q3 2020 Portfolio in Review

As of Q3 2020, Cowen Investment Management held 113 positions worth $238M, up 52% from $157M the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Cowen Investment Management deployed $70.3M of net new capital in Q3 2020, opening 65 new positions and adding to 6 existing holdings. Its largest new stake was Sprott Physical Gold and Silver Trust: 384,900 shares worth $7.06M.

By sector, the portfolio is most concentrated in Financials at 35% of assets, down from 50% a quarter earlier, followed by Consumer Discretionary and Industrials.

On the sell side, the largest reduction was Spartan Energy Acquisition Corp Units (each consisting of one Class A Common Stock and one-third of, an estimated $7.72M trimmed.

  • Cowen Investment Management's largest Q3 2020 buy was Sprott Physical Gold and Silver Trust: 384,900 shares worth $7.06M.
  • Cowen Investment Management added most to Microvast in Q3 2020, an estimated $6.86M increase.
  • Cowen Investment Management's biggest Q3 2020 reduction was Spartan Energy Acquisition Corp Units (each consisting of one Class A Common Stock and one-third of, cutting an estimated $7.72M.
  • Cowen Investment Management fully exited Global Blue Group Holding in Q3 2020, selling an estimated $10.8M.
  • Cowen Investment Management's ten largest holdings make up 48% of its $238M portfolio in Q3 2020.
  • Cowen Investment Management opened 65 new positions and closed 10 in Q3 2020.
  • Cowen Investment Management's portfolio value rose 52% quarter-over-quarter to $238M.

Based on Cowen Investment Management's 13F filing for Q3 2020, filed 12 Nov 2020.