Vault-13

COWEN INC COWN

CL A NEW · Common Stock · CUSIP 223622606

161 institutional holders -1 vs Q3 2022
30,521,29830.5m shares reported held*
$1.2bnreported value*
18 new 60 added 44 reduced 24 sold out net bought ≈ $116.6m (+3.0m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $38.62. Options: 9 managers hold calls ($6.3m notional), 8 hold puts ($2.9m).

Trends to Q4 2022

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 162Q4 22: 161161Q3 22Q4 22
Numbers
QuarterHolders
Q3 2022162
Q4 2022161

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2m$4m$6m$8mQ3 22 calls: $7.9mQ3 22 puts: $3.1mQ3 22P/C 0.39Q4 22 calls: $6.3mQ4 22 puts: $2.9mQ4 22P/C 0.46
Numbers
QuarterCallsPutsP/C
Q3 2022$7.9m$3.1m0.39
Q4 2022$6.3m$2.9m0.46

Biggest buyers

Balyasny Asset Management L.P. New +734,909+734.9k
TUDOR INVESTMENT CORP ET AL Added +718,589+718.6k
Man Group plc Added +567,299+567.3k
ALPINE ASSOCIATES MANAGEMENT INC. Added +472,460+472.5k
BARDIN HILL MANAGEMENT PARTNERS LP New +392,740+392.7k
GOLDMAN SACHS GROUP INC Added +323,392+323.4k
Woodline Partners LP Added +285,677+285.7k
FIL Ltd Added +224,577+224.6k
RENAISSANCE TECHNOLOGIES LLC New +223,128+223.1k
Silphium Asset Management Ltd Added +200,000+200.0k

Biggest sellers

WATER ISLAND CAPITAL LLC Reduced -416,190-416.2k
JPMORGAN CHASE & CO Reduced -373,738-373.7k
FMR LLC Reduced -335,030-335.0k
DEUTSCHE BANK AG\ Reduced -319,381-319.4k
Sand Grove Capital Management LLP Sold out -240,184-240.2k
TIG Advisors, LLC Sold out -222,901-222.9k
NEUBERGER BERMAN GROUP LLC Reduced -197,488-197.5k
Nuveen Asset Management, LLC Reduced -160,101-160.1k
Centiva Capital, LP Sold out -125,100-125.1k
EHP Funds Inc. Sold out -100,000-100.0k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $2.7m71.0k shares
JANE STREET GROUP, LLC Reduced $1.8m46.2k shares
CITADEL ADVISORS LLC Reduced $702.9k18.2k shares
SIMPLEX TRADING, LLC Reduced $447.0k11.6k shares
MILLENNIUM MANAGEMENT LLC Added $220.0k5.7k shares
Skaana Management L.P. New $193.1k5.0k shares
GROUP ONE TRADING LLC Added $150.6k3.9k shares
Cutler Group LLC / CA Reduced $11.0k4.3k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

Caption Management, LLC Unchanged $965.5k25.0k shares
GROUP ONE TRADING LLC Unchanged $822.6k21.3k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $590.9k15.3k shares
Skaana Management L.P. New $235.6k6.1k shares
PEAK6 Investments LLC Reduced $115.9k3.0k shares
SIMPLEX TRADING, LLC Reduced $69.0k1.8k shares
CITADEL ADVISORS LLC New $61.8k1.6k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q4 2022

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock Inc. 0.00% of their portfolio New York, NY 2,334,9212.3m $90.2m $90.2m 0.00% Added +59.3k +59,337
2 Magnetar Financial LLC 1.04% of their portfolio EVANSTON, IL 1,581,2861.6m $61.1m $61.1m 1.04% Reduced -49.3k -49,339
3 NEXPOINT ASSET MANAGEMENT, L.P. 4.08% of their portfolio Dallas, TX 1,357,3941.4m $52.4m $52.4m 4.08% Added +92.1k +92,112
4 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 1,332,3411.3m $51.5m $51.5m 0.00% Added +38.4k +38,429
5 Versor Investments LP 4.29% of their portfolio New York, NY 1,293,1091.3m $49.9m $49.9m 4.29% Added +33.0k +32,957
6 TUDOR INVESTMENT CORP ET AL 1.22% of their portfolio STAMFORD, CT 1,280,9351.3m $49.5m $49.5m 1.22% Added +718.6k +718,589
7 DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio AUSTIN, TX 1,172,7331.2m $45.3m $45.3m 0.02% Reduced -67.5k -67,463
8 ALPINE ASSOCIATES MANAGEMENT INC. 2.04% of their portfolio PALM BEACH, FL 1,157,9601.2m $44.7m $44.7m 2.04% Added +472.5k +472,460
9 FIL Ltd 0.05% of their portfolio HAMILTON, D0 1,120,5711.1m $43.3m $43.3m 0.05% Added +224.6k +224,577
10 Carlson Capital, L.P. 3.06% of their portfolio DALLAS, TX 1,031,7941.0m $39.8m $39.8m 3.06% Added +131.8k +131,794
11 KIM, LLC 2.19% of their portfolio WICHITA, KS 1,028,4471.0m $39.7m $39.7m 2.19% Reduced -16.0k -16,040
12 Man Group plc 0.11% of their portfolio LONDON, X0 827,300827.3k $32.0m $32.0m 0.11% Added +567.3k +567,299
13 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 1.50% of their portfolio CHICAGO, IL 791,489791.5k $30.6m $30.6m 1.50% Not comparable
14 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 768,542768.5k $29.7m $29.7m 0.01% Added +323.4k +323,392
15 Balyasny Asset Management L.P. 0.10% of their portfolio Chicago, IL 734,909734.9k $28.4m $28.4m 0.10% New
16 Woodline Partners LP 0.35% of their portfolio San Francisco, CA 660,416660.4k $25.5m $25.5m 0.35% Added +285.7k +285,677
17 Grantham, Mayo, Van Otterloo & Co. LLC 0.12% of their portfolio Boston, MA 594,774594.8k $23.0m $23.0m 0.12% Reduced -17.9k -17,934
18 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 585,541585.5k $22.6m $22.6m 0.00% Reduced -19.9k -19,916
19 AQR Arbitrage LLC 0.57% of their portfolio Greenwich, CT 570,870570.9k $22.0m $22.0m 0.57% Added +91.1k +91,068
20 HEARTLAND ADVISORS INC 1.22% of their portfolio MILWAUKEE, WI 500,000500.0k $19.3m $19.3m 1.22% Unchanged
21 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 494,932494.9k $19.1m $19.1m 0.00% Added +12.4k +12,364
22 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 432,638432.6k $16.7m $16.7m 0.00% Added +141.4k +141,398
23 BARDIN HILL MANAGEMENT PARTNERS LP 3.32% of their portfolio NEW YORK, NY 392,740392.7k $15.2m $15.2m 3.32% New
24 TOKIO MARINE ASSET MANAGEMENT CO LTD 1.04% of their portfolio Tokyo, M0 343,900343.9k $13.3m $13.3m 1.04% Added +149.0k +149,000
25 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 313,665313.7k $12.1m $12.1m 0.00% Added +29.0k +29,014
26 Silphium Asset Management Ltd 11.58% of their portfolio London, X0 300,000300.0k $11.6m $11.6m 11.58% Added +200.0k +200,000
27 NORGES BANK 0.00% of their portfolio OSLO, Q8 280,100280.1k $10.8m $10.8m 0.00% Not comparable
28 Flow State Investments, L.P. 8.75% of their portfolio CHICAGO, IL 260,000260.0k $10.0m $10.0m 8.75% First filing
29 KENNEDY CAPITAL MANAGEMENT LLC 0.28% of their portfolio ST LOUIS, MO 256,362256.4k $9.9m $9.9m 0.28% Reduced -16.7k -16,734
30 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 250,397250.4k $9.7m $9.7m 0.00% Added +1.9k +1,946
31 Nuveen Asset Management, LLC 0.00% of their portfolio CHICAGO, IL 244,218244.2k $9.4m $9.4m 0.00% Reduced -160.1k -160,101
32 LEVIN CAPITAL STRATEGIES, L.P. 1.25% of their portfolio NEW YORK, NY 239,713239.7k $9.3m $9.3m 1.25% Reduced -35.8k -35,783
33 Ergoteles LLC 0.33% of their portfolio NEW YORK, NY 229,492229.5k $8.9m $8.9m 0.33% Added +180.2k +180,238
34 FMR LLC 0.00% of their portfolio BOSTON, MA 227,821227.8k $8.8m $8.8m 0.00% Reduced -335.0k -335,030
35 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 225,455225.5k $8.7m $8.7m 0.00% Reduced -50.2k -50,202
36 RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio NEW YORK, NY 223,128223.1k $8.6m $8.6m 0.01% New
37 UBS Group AG 0.00% of their portfolio ZURICH, V8 221,143221.1k $8.5m $8.5m 0.00% Added +103.8k +103,803
38 Westchester Capital Management, LLC 0.24% of their portfolio VALHALLA, NY 217,286217.3k $8.4m $8.4m 0.24% Unchanged
39 Qube Research & Technologies Ltd 0.05% of their portfolio LONDON, X0 216,637216.6k $8.4m $8.4m 0.05% Added +153.9k +153,882
40 Pentwater Capital Management LP 0.24% of their portfolio Naples, FL 201,689201.7k $7.8m $7.8m 0.24% Unchanged
41 Crabel Capital Management, LLC 2.74% of their portfolio MILWAUKEE, WI 195,822195.8k $7.6m $7.6m 2.74% Unchanged
42 BRIDGEWAY CAPITAL MANAGEMENT, LLC 0.19% of their portfolio HOUSTON, TX 185,200185.2k $7.2m $7.2m 0.19% Unchanged
43 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 158,903158.9k $6.1m $6.1m 0.01% Added +1.4k +1,419
44 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.03% of their portfolio TORONTO, A6 150,700150.7k $5.8m $5.8m 0.03% Reduced -92.1k -92,100
45 Brookfield Corp /ON/ 0.02% of their portfolio TORONTO, A6 150,000150.0k $5.8m $5.8m 0.02% Added +55.0k +55,000
46 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 142,613142.6k $5.5m $5.5m 0.00% Reduced -373.7k -373,738
47 New York Life Investment Management LLC 0.06% of their portfolio New York, NY 126,750126.8k $4.9m $4.9m 0.06% Added +42.6k +42,622
48 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 121,646121.6k $4.7m $4.7m 0.00% Added +35.2k +35,206
49 WOLVERINE ASSET MANAGEMENT LLC 0.07% of their portfolio CHICAGO, IL 119,798119.8k $4.6m $4.6m 0.07% Added +71.8k +71,778
50 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 109,462109.5k $4.2m $4.2m 0.00% Reduced -319.4k -319,381
51 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 105,703105.7k $4.1m $4.1m 0.00% Reduced -5.4k -5,363
52 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 102,240102.2k $3.9m $3.9m 0.00% Reduced -67.7k -67,746
53 NISA INVESTMENT ADVISORS, LLC 0.03% of their portfolio ST. LOUIS, MO 98,61898.6k $3.8m $3.8m 0.03% Added +97.0k +97,000
54 CREDIT SUISSE AG/ 0.00% of their portfolio ZURICH, V8 94,11594.1k $3.6m $3.6m 0.00% Added +6.0k +6,013
55 GABELLI FUNDS LLC 0.03% of their portfolio Rye, NY 93,95094.0k $3.6m $3.6m 0.03% Added +50.6k +50,650
56 Kellner Capital, LLC 4.10% of their portfolio NEW YORK, NY 91,13091.1k $3.5m $3.5m 4.10% Added +60.6k +60,623
57 HAVENS ADVISORS LLC 8.84% of their portfolio NEW YORK, NY 90,00090.0k $3.5m $3.5m 8.84% Added +26.0k +26,000
58 PRELUDE CAPITAL MANAGEMENT, LLC 0.20% of their portfolio NEW YORK, NY 85,92585.9k $3.3m $3.3m 0.20% Reduced -30.5k -30,469
59 Quantedge Capital Pte Ltd 1.09% of their portfolio Singapore, U0 84,10084.1k $3.2m $3.2m 1.09% Added +59.1k +59,100
60 Yakira Capital Management, Inc. 0.61% of their portfolio Westport, CT 77,69177.7k $3.0m $3.0m 0.61% New
61 GAMCO INVESTORS, INC. ET AL 0.03% of their portfolio GREENWICH, CT 75,20075.2k $2.9m $2.9m 0.03% Added +65.1k +65,100
62 First Trust Capital Management L.P. 0.16% of their portfolio CHICAGO, IL 75,19075.2k $2.9m $2.9m 0.16% New
63 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 74,51274.5k $2.9m $2.9m 0.00% New
64 Weiss Multi-Strategy Advisers LLC 0.07% of their portfolio NEW YORK, NY 66,24166.2k $2.6m $2.6m 0.07% Reduced -475 -475
65 SG Americas Securities, LLC 0.04% of their portfolio NEW YORK, NY 65,65765.7k $2.5m $2.5m 0.04% Added +26.2k +26,228
66 Swiss National Bank 0.00% of their portfolio ZURICH, V8 63,42563.4k $2.4m $2.4m 0.00% Added +1.5k +1,500
67 HARVEST MANAGEMENT LLC 2.82% of their portfolio New York, NY 63,30063.3k $2.4m $2.4m 2.82% Added +4.8k +4,800
68 Verition Fund Management LLC 0.05% of their portfolio GREENWICH, CT 61,72861.7k $2.4m $2.4m 0.05% Reduced -61.7k -61,728
69 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.00% of their portfolio BOSTON, MA 50,89650.9k $2.0m $2.0m 0.00% New
70 Aureus Asset Management, LLC 0.16% of their portfolio BOSTON, MA 49,27449.3k $1.9m $1.9m 0.16% New
71 Public Sector Pension Investment Board 0.01% of their portfolio MONTREAL, A8 46,00046.0k $1.8m $1.8m 0.01% New
72 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 43,72543.7k $1.7m $1.7m 0.00% Reduced -1.9k -1,862
73 Sagefield Capital LP 0.42% of their portfolio DALLAS, TX 43,30043.3k $1.7m $1.7m 0.42% Added +19.2k +19,200
74 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 42,52942.5k $1.6m $1.6m 0.01% New
75 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 38,34238.3k $1.5m $1.5m 0.00% First filing
76 Squarepoint Ops LLC 0.01% of their portfolio NEW YORK, NY 37,64037.6k $1.5m $1.5m 0.01% Added +21.7k +21,667
77 PEAK6 Investments LLC 0.08% of their portfolio CHICAGO, IL 36,74236.7k $1.4m $1.4m 0.08% Reduced -6.2k -6,200
78 VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio San Antonio, TX 36,00036.0k $1.4m $1.4m 0.00% Reduced -28.7k -28,662
79 Diametric Capital, LP 0.67% of their portfolio BOSTON, MA 35,99636.0k $1.4m $1.4m 0.67% Added +12.8k +12,770
80 BCK CAPITAL MANAGEMENT LP 1.35% of their portfolio STAMFORD, CT 34,00034.0k $1.3m $1.3m 1.35% Unchanged
81 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 33,57933.6k $1.3m $1.3m 0.00% Reduced -1.7k -1,677
82 CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio WEST SACRAMENTO, CA 33,51433.5k $1.3m $1.3m 0.00% Added +663 +663
83 WATER ISLAND CAPITAL LLC 0.11% of their portfolio NEW YORK, NY 33,22633.2k $1.3m $1.3m 0.11% Reduced -416.2k -416,190
84 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 31,04731.0k $1.2m $1.2m 0.00% Reduced -36 -36
85 Skandinaviska Enskilda Banken AB (publ) 0.01% of their portfolio STOCKHOLM, V7 30,78230.8k $1.2m $1.2m 0.01% Added +782 +782
86 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 29,04629.0k $1.1m $1.1m 0.00% Reduced -9.5k -9,490
87 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 28,45028.4k $1.1m $1.1m 0.00% Reduced -35.9k -35,920
88 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 28,44028.4k $1.1m $1.1m 0.00% Reduced -39.3k -39,284
89 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio COLUMBUS, OH 27,52227.5k $1.1m $1.1m 0.00% Added +26.2k +26,167
90 GABELLI & Co INVESTMENT ADVISERS, INC. 0.21% of their portfolio Rye, NY 25,95025.9k $1.0m $1.0m 0.21% Added +14.6k +14,550
91 Greenwich Wealth Management LLC 0.11% of their portfolio GREENWICH, CT 24,75024.8k $956.0k $956.0k 0.11% New
92 K2 PRINCIPAL FUND, L.P. 0.24% of their portfolio TORONTO, A6 22,81422.8k $881.1k $881.1k 0.24% New
93 AFFINITY INVESTMENT ADVISORS, LLC 0.40% of their portfolio NEWPORT BEACH, CA 22,55922.6k $871.2k $871.2k 0.40% Added +157 +157
94 GAM Holding AG 0.07% of their portfolio Zurich, V8 22,40022.4k $865.1k $865.1k 0.07% Unchanged
95 Candriam S.C.A. 0.01% of their portfolio STRASSEN, N4 21,57821.6k $833.3k $833.3k 0.01% Unchanged
96 Bleakley Financial Group, LLC 0.03% of their portfolio PARSIPPANY, NJ 20,75520.8k $801.6k $801.6k 0.03% First filing
97 NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio ALBANY, NY 18,75118.8k $724.2k $724.2k 0.00% Added +10 +10
98 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 17,41117.4k $672.0k $672.0k 0.00% Reduced -3.2k -3,201
99 GUGGENHEIM CAPITAL LLC 0.01% of their portfolio CHICAGO, IL 15,10915.1k $583.5k $583.5k 0.01% Added +9.1k +9,145
100 DARK FOREST CAPITAL MANAGEMENT LP 0.14% of their portfolio NEW YORK, NY 14,60014.6k $563.9k $563.9k 0.14% Reduced -8.4k -8,363