Cowen Investment Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
8I ENTERPRISES ACQUISITIN CO	SHS	G2956M104	4,008	400,000	SH		DFND		400,000	0	0
ACAMAR PARTNERS ACQSITION CO	UNIT 12/30/2025	004285201	2,046	201,000	SH		DFND		201,000	0	0
ALUSSA ENERGY ACQUISITION CO	UNIT 10/31/2026	G0232J127	2,016	200,000	SH		DFND		200,000	0	0
AMPLITUDE HLTHCRE AQUSTIN CO	UNIT 12/01/2026	03212A204	2,518	250,000	SH		DFND		250,000	0	0
AVON PRODS INC	COM	054303102	309	54,800	SH		DFND		54,800	0	0
B RILEY PRINCIPAL MERGER COR	CL A	05586Y106	3,003	300,000	SH		DFND		300,000	0	0
BANCO SANTANDER SA	ADR	05964H105	3,836	926,479	SH		DFND		926,479	0	0
BARCLAYS PLC	ADR	06738E204	2,647	278,058	SH		DFND		278,058	0	0
BP PLC	SPONSORED ADR	055622104	22,651	600,187	SH		DFND		600,187	0	0
CHANGE HEALTHCARE INC	UNIT 99/99/9999	15912K209	355	5,800	SH		DFND		5,800	0	0
CHASERG TECHNLGY ACQUISITN C	CLASS A	16166A103	2,170	200,000	SH		DFND		200,000	0	0
CHP MERGER CORP	UNIT 11/22/2024	12558Y205	1,017	100,000	SH		DFND		100,000	0	0
CHURCHILL CAP CORP II	UNIT 99/99/9999	17143G205	2,156	200,000	SH		DFND		200,000	0	0
CIIG MERGER CORP	UNIT 12/31/2026	12559C202	2,032	200,000	SH		DFND		200,000	0	0
COLLIER CREEK HOLDINGS	*W EXP 99/99/999	G22707114	93	66,666	SH		DFND		66,666	0	0
COLLIER CREEK HOLDINGS	COM CL A	G22707106	3,084	300,000	SH		DFND		300,000	0	0
DIAMONDPEAK HLDGS COR	*W EXP 02/22/202	25280H118	308	400,000	SH		DFND		400,000	0	0
DIAMONDPEAK HLDGS COR	UNIT 99/99/9999	25280H209	5,330	520,000	SH		DFND		520,000	0	0
FAR PT ACQUISITION CORP	*W EXP 06/01/202	30734W117	194	150,000	SH		DFND		150,000	0	0
FAR PT ACQUISITION CORP	COM CL A	30734W109	3,874	375,000	SH		DFND		375,000	0	0
FINTECH ACQUISITION CORP III	COM CL A	31811A101	2,024	200,000	SH		DFND		200,000	0	0
FINTECH ACQUISITION CORP III	UNIT 12/01/2023	31811A309	2,808	260,000	SH		DFND		260,000	0	0
FORUM MERGER II CORP	CL A	34986F103	5,360	525,000	SH		DFND		525,000	0	0
FORUM MERGER II CORP	UNIT 09/30/2025	34986F202	3,960	369,052	SH		DFND		369,052	0	0
GALILEO ACQUISITION CORP	UNIT 99/99/9999	G3770A128	1,024	100,000	SH		DFND		100,000	0	0
GCI LIBERTY INC	COM CLASS A	36164V305	5,118	72,238	SH		DFND		72,238	0	0
GORDON POINTE ACQUISITION CO	COM CLASS A	382788107	6,354	600,000	SH		DFND		600,000	0	0
GORES HOLDINGS III INC	UNIT 09/07/2024	38286G208	1,650	150,000	SH		DFND		150,000	0	0
GORES METROPOULOS INC	COM CL A	382872109	2,550	250,000	SH		DFND		250,000	0	0
GORES METROPOULOS INC	UNIT 99/99/9999	382872208	3,207	302,000	SH		DFND		302,000	0	0
GREENVISION ACQUISITION CORP	UNIT 10/28/2024	39678G202	3,532	350,000	SH		DFND		350,000	0	0
GS ACQUISITION HLDGS CORP	*W EXP 06/12/202	36255F110	115	50,000	SH		DFND		50,000	0	0
GS ACQUISITION HLDGS CORP	COM CL A	36255F102	1,103	100,000	SH		DFND		100,000	0	0
GX ACQUISITION CORP	UNIT 05/24/2026	36251A206	3,111	300,000	SH		DFND		300,000	0	0
HEALTHCARE MERGER CORP	UNIT 12/17/2021	42227L201	2,588	250,000	SH		DFND		250,000	0	0
HENNESSY CAP ACQUSTION CORP	UNIT 99/99/9999	42589C203	927	85,000	SH		DFND		85,000	0	0
HL ACQUISITIONS CORP	SHS	G4603R106	1,550	150,000	SH		DFND		150,000	0	0
ISHARES TR	RUSSELL 2000 ETF	464287655	335	125,000	SH	Call	DFND		125,000	0	0
JUNIPER INDL HLDGS INC	UNIT 11/13/2026	48205G205	2,550	250,000	SH		DFND		250,000	0	0
LANDCADIA HLDGS II INC	UNIT 05/09/2026	51476X204	2,343	231,300	SH		DFND		231,300	0	0
LATAM AIRLS GROUP S A	SPONSORED ADR	51817R106	1,342	132,084	SH		DFND		132,084	0	0
LATAM AIRLS GROUP S A	SPONSORED ADR	51817R106	805	120,100	SH	Put	DFND		120,100	0	0
LEGACY ACQUISITION CORP	*W EXP 11/30/202	524643111	215	400,000	SH		DFND		400,000	0	0
LEGACY ACQUISITION CORP	COM CL A	524643103	4,108	400,000	SH		DFND		400,000	0	0
LEISURE ACQUISITION CORP	UNIT 99/99/9999	52539T206	1,491	137,000	SH		DFND		137,000	0	0
LIBERTY BROADBAND CORP	COM SER A	530307107	18,679	149,960	SH		DFND		149,960	0	0
LIBERTY MEDIA CORP DELAWARE	COM C SIRIUSXM	531229607	2,728	56,670	SH		DFND		56,670	0	0
LIBERTY MEDIA CORP DELAWARE	COM SER A FRMLA	531229870	4,033	92,110	SH		DFND		92,110	0	0
LLOYDS BANKING GROUP PLC	SPONSORED ADR	539439109	22,592	6,825,506	SH		DFND		6,825,506	0	0
MEGALITH FINL ACQUISITION CO	CL A COM	58518F109	923	90,000	SH		DFND		90,000	0	0
MEGALITH FINL ACQUISITION CO	UNIT 09/30/2025	58518F208	3,457	328,900	SH		DFND		328,900	0	0
MOSAIC ACQUISITION CORP	*W EXP 10/23/202	61946M118	24	25,000	SH		DFND		25,000	0	0
MOSAIC ACQUISITION CORP	COM CL A	61946M100	5,657	550,000	SH		DFND		550,000	0	0
MUDRICK CAP ACQUISITION CORP	*W EXP 02/12/202	624745113	123	250,000	SH		DFND		250,000	0	0
MUDRICK CAP ACQUISITION CORP	COM CLASS A	624745105	5,166	500,000	SH		DFND		500,000	0	0
MUDRICK CAP ACQUISITION CORP	UNIT 02/01/2023	624745204	1,334	125,000	SH		DFND		125,000	0	0
NEBULA ACQUISITION CORP	*W EXP 03/12/202	629076118	42	33,333	SH		DFND		33,333	0	0
NEBULA ACQUISITION CORP	COM CLASS A	629076100	2,635	249,999	SH		DFND		249,999	0	0
NETFIN ACQUISITION CORP	UNIT 08/01/2024	G6455A123	1,529	150,000	SH		DFND		150,000	0	0
NOKIA CORP	SPONSORED ADR	654902204	3,028	816,060	SH		DFND		816,060	0	0
OSPREY TECHNLGY AQUISTION CO	UNIT 10/30/2024	68839R401	5,599	550,000	SH		DFND		550,000	0	0
PEARSON PLC	SPONSORED ADR	705015105	843	100,000	SH		DFND		100,000	0	0
PROPTECH ACQUISITION CORPORA	UNIT 10/01/2026	74349F200	3,075	300,000	SH		DFND		300,000	0	0
PURE ACQUISITION CORP	CL A	74621Q106	24,421	2,355,000	SH		DFND		2,355,000	0	0
PURE ACQUISITION CORP	UNIT 04/13/2023	74621Q205	3,348	310,000	SH		DFND		310,000	0	0
RIO TINTO PLC	SPONSORED ADR	767204100	12,209	205,673	SH		DFND		205,673	0	0
RMG ACQUISITION CORP	UNIT 99/99/9999	749641205	2,022	199,000	SH		DFND		199,000	0	0
ROYAL BK CDA MONTREAL QUE	COM	780087102	762	9,626	SH		DFND		9,626	0	0
SILVER SPIKE ACQUISITION COR	UNIT 99/99/9999	G8136L122	2,034	200,000	SH		DFND		200,000	0	0
SOFTWARE ACQUISITION GROUP I	UNIT 10/01/2026	83406B200	2,540	250,000	SH		DFND		250,000	0	0
SOUTH MTN MERGER CORP	*W EXP 06/20/202	838884112	135	150,000	SH		DFND		150,000	0	0
SOUTH MTN MERGER CORP	COM CL A	838884104	2,961	300,000	SH		DFND		300,000	0	0
SPARTAN ENERGY ACQUISITON CO	CL A COM STK	846784106	3,050	300,000	SH		DFND		300,000	0	0
SPARTAN ENERGY ACQUISITON CO	UNIT 99/99/9999	846784114	5,439	525,000	SH		DFND		525,000	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	7	50,000	SH	Put	DFND		50,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	18	20,000	SH	Put	DFND		20,000	0	0
SPROTT PHYSICAL GOLD & SILVE	TR UNIT	85208R101	10,055	685,872	SH		DFND		685,872	0	0
TAKEDA PHARMACEUTICAL CO LTD	SPONSORED ADS	874060205	2,032	103,014	SH		DFND		103,014	0	0
TENZING ACQUISITION CORP	ORD SHS	G8708A116	2,877	275,000	SH		DFND		275,000	0	0
THUNDER BRDG ACQUISTION II L	CL A SHS	G8857S116	2,468	250,000	SH		DFND		250,000	0	0
TIBERIUS ACQUISITION CORP	COM	88633A107	4,200	400,000	SH		DFND		400,000	0	0
TKK SYMPHONY ACQUISITION COR	*W EXP 02/20/202	G88950129	3	57,500	SH		DFND		57,500	0	0
TKK SYMPHONY ACQUISITION COR	ORD SHS	G88950103	2,056	200,000	SH		DFND		200,000	0	0
TKK SYMPHONY ACQUISITION COR	RIGHT 02/20/2020	G88950137	14	57,500	SH		DFND		57,500	0	0
TORTOISE ACQUISITION CORP	UNIT 03/04/2024	89154L209	3,051	300,000	SH		DFND		300,000	0	0
TOTTENHAM ACQUISITION I LTD	SHS	G8959N106	3,145	300,000	SH		DFND		300,000	0	0
TRIDENT ACQUISITIONS CORP	*W EXP 05/09/202	89615T114	15	154,300	SH		DFND		154,300	0	0
TRINE ACQUISITION CORP	UNIT 03/31/2021	89628U207	4,703	450,000	SH		DFND		450,000	0	0
TUSCAN HOLDINGS CORP	COM	90069K104	996	100,000	SH		DFND		100,000	0	0
TUSCAN HOLDINGS CORP	UNIT 99/99/9999	90069K203	1,050	100,000	SH		DFND		100,000	0	0
UNITED STATES OIL FUND LP	UNITS	91232N108	432	360,000	SH	Put	DFND		360,000	0	0
UNITED STS 12 MONTH OIL FD L	UNIT BEN INT	91288V103	4,774	207,667	SH		DFND		207,667	0	0
VECTOIQ ACQUISITION CORP	COM	92243N103	1,032	100,000	SH		DFND		100,000	0	0
WEALTHBRIDGE ACQUISITION LTD	SHS	G4887W110	1,014	100,000	SH		DFND		100,000	0	0
YATRA ONLINE INC	ORD SHS	G98338109	1,387	440,189	SH		DFND		440,189	0	0