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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
+0.06%
1 Year Est. Return
-1.47%
3 Year Est. Return
+1.87%
5 Year Est. Return
-37.7%
10 Year Est. Return
–
AUM
$383M
AUM Growth
-$109M
Cap. Flow
-$144M
Cap. Flow %
-37.62%
Top 10 Hldgs %
42.27%
Holding
251
New
55
Increased
9
Reduced
7
Closed
136

Top Buys

Rank Stock Value
1
CVII
Churchill Capital Corp VII Class A Common Stock
CVII
+$26M
2
CCVI
Churchill Capital Corp VI
CCVI
+$13.4M
3
TCVA
TCV Acquisition Corp. Class A Ordinary Shares
TCVA
+$12.6M
4
MTVC
Motive Capital Corp II
MTVC
+$10.6M
5
NSTD
Northern Star Investment Corp. IV
NSTD
+$9.65M

Top Sells

Rank Stock Value
1
MUFG icon
Mitsubishi UFJ Financial
MUFG
+$15M
2
BNAI
Brand Engagement Network
BNAI
+$12M
3
BZAI
Blaize Holdings
BZAI
+$11.4M
4
HTZWW
Hertz Global Holdings Warrants
HTZWW
+$11.3M
5
LITT
Logistics Innovation Technologies Corp. Class A Common Stock
LITT
+$10.6M

Sector Composition

Rank Sector Weight
1 Financials 66.95%
2 Industrials 8.51%
3 Consumer Discretionary 4.79%
4 Technology 3.75%
5 Healthcare 2.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RWODU
151
DELISTED
Redwoods Acquisition Corp. Unit
RWODU
– –
-100,000
Closed -$1.01M
SWSSU
152
DELISTED
Clean Energy Special Situations Corp. Unit
SWSSU
– –
-200,000
Closed -$1.01M
TWLV
153
DELISTED
Twelve Seas Investment Company II Class A Common Stock
TWLV
– –
-600,000
Closed -$6.03M
AVHI
154
DELISTED
Achari Ventures Holdings Corp I
AVHI
– –
-150,000
Closed -$1.53M
APACU
155
DELISTED
StoneBridge Acquisition Corporation Unit
APACU
– –
-100,000
Closed -$1M
MVLA
156
DELISTED
Movella Holdings Inc. Common Stock
MVLA
– –
-50,000
Closed -$504K
ROSS
157
DELISTED
Ross Acquisition Corp II
ROSS
– –
-200,000
Closed -$2.02M
VAQC
158
DELISTED
Vector Acquisition Corporation II Class A Ordinary Shares
VAQC
– –
-116,000
Closed -$1.17M
SMAPU
159
DELISTED
SportsMap Tech Acquisition Corp. Units
SMAPU
– –
-100,000
Closed -$1.02M
MBAC
160
DELISTED
M3-Brigade Acquisition II Corp.
MBAC
– –
-500,000
Closed -$5.01M
LIVBU
161
DELISTED
LIV Capital Acquisition Corp. II Unit
LIVBU
– –
-100,000
Closed -$1.03M
SUAC.U
162
DELISTED
ShoulderUp Technology Acquisition Corp. Units, each consisting of one share of Class A common stock and one-half of one redeemable warrant
SUAC.U
– –
-250,000
Closed -$2.53M
APGB.U
163
DELISTED
Apollo Strategic Growth Capital II Units, each consisting of one Class A ordinary share, and one-fifth of one warrant
APGB.U
– –
-50,000
Closed -$502K
LHC
164
DELISTED
Leo Holdings Corp. II
LHC
– –
-1,025,000
Closed -$10.3M
PRPC.U
165
DELISTED
CC Neuberger Principal Holdings III Units, each consisting of one Class A ordinary share, and one-fifth of one redeemable warrant
PRPC.U
– –
-372,041
Closed -$3.76M
WWACU
166
DELISTED
Worldwide Webb Acquisition Corp. Unit
WWACU
– –
-100,000
Closed -$995K
AAC.U
167
DELISTED
Ares Acquisition Corporation Units, each consisting of one Class A ordinary share, and one-fifth of one redeemable warrant
AAC.U
– –
-50,000
Closed -$509K
TRCA.U
168
DELISTED
Twin Ridge Capital Acquisition Corp. Units, each consisting of one Class A ordinary share and one-third of one redeemable warrant
TRCA.U
– –
-350,000
Closed -$3.52M
PCCTU
169
DELISTED
Perception Capital Corp. II Units
PCCTU
– –
-50,000
Closed -$511K
FSNB
170
DELISTED
Fusion Acquisition Corp. II
FSNB
– –
-300,000
Closed -$3.01M
CCV
171
DELISTED
Churchill Capital Corp V
CCV
– –
-647,000
Closed -$6.43M
ANZUU
172
DELISTED
Anzu Special Acquisition Corp I Units
ANZUU
– –
-50,000
Closed -$501K
RBT
173
DELISTED
Rubicon Technologies, Inc.
RBT
– –
-55,066
Closed -$784K
NSTC
174
DELISTED
Northern Star Investment Corp. III
NSTC
– –
-449,900
Closed -$4.52M
AGAC
175
DELISTED
African Gold Acquisition Corp
AGAC
– –
-550,000
Closed -$5.53M
5 6
7
8 9

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AMG
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B
Braslyn New Providence, Bahamas $7.81M AUM 338.68% 1-Year Est. Return
XS
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AH
Aviva Holdings New Providence, Bahamas $20.5M AUM 117.01% 1-Year Est. Return
MFAM
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ZIMP
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RCI
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Cowen Investment Management's Q1 2023 Portfolio in Review

As of Q1 2023, Cowen Investment Management held 251 positions worth $383M, down 22% from $492M the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Cowen Investment Management withdrew a net $144M in Q1 2023, closing 136 positions and reducing 7 holdings. Its most notable exit was Mitsubishi UFJ Financial, an estimated $15M position sold in full.

By sector, the portfolio is most concentrated in Financials at 67% of assets, up from 50% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Cowen Investment Management opened a new position in Churchill Capital Corp VII Class A Common Stock worth $26.2M.

  • Cowen Investment Management's largest Q1 2023 buy was Churchill Capital Corp VII Class A Common Stock: 2,585,000 shares worth $26.2M.
  • Cowen Investment Management added most to Black Mountain Acquisition Corp. in Q1 2023, an estimated $5.15M increase.
  • Cowen Investment Management's biggest Q1 2023 reduction was Sumitomo Mitsui Financial, cutting an estimated $8.46M.
  • Cowen Investment Management fully exited Mitsubishi UFJ Financial in Q1 2023, selling an estimated $15M.
  • Cowen Investment Management's ten largest holdings make up 42% of its $383M portfolio in Q1 2023.
  • Cowen Investment Management opened 55 new positions and closed 136 in Q1 2023.
  • Cowen Investment Management's portfolio value fell 22% quarter-over-quarter to $383M.

Based on Cowen Investment Management's 13F filing for Q1 2023, filed 11 May 2023.