Vault-13

COWEN INC COWN

CL A NEW · Common Stock · CUSIP 223622606

3 institutional holders -158 vs Q4 2022
1,4021.4k shares reported held*
$54.0kreported value*
0 new 0 added 1 reduced 154 sold out net sold ≈ $1.1bn (-29.4m 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 ≈ $38.54. Options: 1 managers hold calls ($0 notional), 1 hold puts ($0).

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 162Q4 22: 161Q1 23: 33Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 2022162
Q4 2022161
Q1 20233

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 22: 78 bought or addedQ4 22: 68 cut or sold outQ4 22Q1 23: 0 bought or addedQ1 23: 155 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 20227868
Q1 20230155

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 0.46Q1 23 calls: $0Q1 23 puts: $0Q1 23P/C —
Numbers
QuarterCallsPutsP/C
Q3 2022$7.9m$3.1m0.39
Q4 2022$6.3m$2.9m0.46
Q1 2023$0$0—

Biggest buyers

None

Biggest sellers

BlackRock Inc. Sold out -2,334,921-2.3m
Magnetar Financial LLC Sold out -1,581,286-1.6m
NEXPOINT ASSET MANAGEMENT, L.P. Sold out -1,357,394-1.4m
VANGUARD GROUP INC Sold out -1,332,341-1.3m
Versor Investments LP Sold out -1,293,109-1.3m
TUDOR INVESTMENT CORP ET AL Sold out -1,280,935-1.3m
DIMENSIONAL FUND ADVISORS LP Sold out -1,172,733-1.2m
ALPINE ASSOCIATES MANAGEMENT INC. Sold out -1,157,960-1.2m
FIL Ltd Sold out -1,120,571-1.1m
Carlson Capital, L.P. Sold out -1,031,794-1.0m

Biggest calls

CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

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, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Blue Trust, Inc. 0.00% of their portfolio BRENTWOOD, TN 1,4011.4k $54.0k $54.0k 0.00% Reduced -73 -73
2 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 11 $39 $39 0.00% Unchanged
3 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged