Cowen Investment Management LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed August 29, 2024), Cowen Investment Management LLC reported 6 stock positions worth $70.4 million. Its top holding was Sumitomo Mitsui-Spons ADR (SMFG) at 55.2% of the portfolio, followed by Lloyds Banking Group PLC-ADR (LYG, 16.3%) and Star (STHO, 15.2%). Compared with Q4 2023, it sold out of 1, added to 2 and reduced 2. The biggest buy was Liberty Broadband-C (LBRDK, shares +116%) and the biggest sale Star (STHO, shares −24%).
- Most Recent 13F
- Q1 2025
- Location
- NEW YORK, NY
- CIK
- 0001475770
- Portfolio Value
- $70.4M (Q1 2024)
- SEC Filing
- 0001085146-24-004359 ↗ filed Aug 29, 2024
Holdings Value
Holdings 6 stocks · $70.4M
| SMFG Sumitomo Mitsui-Spons ADR | 55.21% | 3,301,575 | $38.9M | Reduce -20.5% |
| LYG Lloyds Banking Group PLC-ADR | 16.27% | 4,421,183 | $11.5M | No change |
| STHO Star Holdings filed as STAR HLDGS | 15.18% | 826,845 | $10.7M | Reduce -23.7% |
| LBRDK Liberty Broadband-C | 6.80% | 83,687 | $4.8M | Add +115.8% |
| LBRDA Liberty Broadband-A | 6.28% | 77,370 | $4.4M | Add +118.7% |
| STCN Steel Connect Inc. | 0.25% | 18,830 | $179K | No change |
Options reported separately and not counted above: SPY puts ($97K), TLT puts ($15K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $10.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | 2,422,004 | $10.8M | Add +65.5% |
Total filed on the 13F, all lines: $81.1M.
Portfolio Sells Q4 2023 → Q1 2024
Portfolio Buys Q4 2023 → Q1 2024
Options Activity Q4 2023 → Q1 2024
| SPY SS SPDR S&P 500 ETF Trust-US | put | Reduce -52.6% | 45,000 | $97K |
| LSXMK Liberty Media Corp.-Liber-New | call | Sold out | 19,000 | $72Kbefore exit |
| TLT iShares 20+ Year Treasury BD | put | New | 50,000 | $15K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2023 → Q1 2024
| HTZWW Hertz Global Hldgs Inc. -CW51 | *W EXP 06/30/205 | Add +65.5% | 2,422,004 | $10.8M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.