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
hours per response:		23.8

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
10X CAPITAL VENTURE ACQU COR	UNIT 10/21/2025	88025V206	1,065	100,000	SH		DFND		100,000	0	0
5 01 ACQUISITION CORP	COM CL A	33836P105	1,017	100,000	SH		DFND		100,000	0	0
ACE CONVERGENCE ACQU CORP	UNIT 99/99/9999	G0083D112	272	25,000	SH		DFND		25,000	0	0
ACIES ACQUISITION CORP	UNIT 11/30/2027	G0103T121	965	90,000	SH		DFND		90,000	0	0
ACKRELL SPAC PARTNERS I CO	UNIT 12/01/2026	00461L204	1,029	100,000	SH		DFND		100,000	0	0
ACON S2 ACQUISITION CORP	UNIT 09/15/2027	G00748122	1,050	100,000	SH		DFND		100,000	0	0
AEQUI ACQUISITION CORP	UNIT 11/30/2027	00775W201	3,535	350,000	SH		DFND		350,000	0	0
ALPHA HEALTHCARE ACQUISTN CO	UNIT 09/21/2027	020751202	2,114	200,000	SH		DFND		200,000	0	0
ALTICE USA INC	CL A	02156K103	163	75,000	SH	Call	DFND		75,000	0	0
ALTITUDE ACQUISITION CORP	UNIT 11/30/2027	02156Y202	518	50,000	SH		DFND		50,000	0	0
ALUSSA ENERGY ACQUISITION CO	SHS CL A	G0232J101	1,006	100,000	SH		DFND		100,000	0	0
ALUSSA ENERGY ACQUISITION CO	UNIT 10/31/2026	G0232J127	327	30,000	SH		DFND		30,000	0	0
AMERICAS TECHNOLOGY ACQSN CO	UNIT 99/99/9999	G0404A128	1,028	100,000	SH		DFND		100,000	0	0
ARCLIGHT CLEAN TRANSITION CO	CL A	G04561109	1,108	100,000	SH		DFND		100,000	0	0
ARTIUS ACQUISITION INC	UNIT 99/99/9999	04316G204	1,124	100,000	SH		DFND		100,000	0	0
ASCENDANT DIGITAL ACQUISITIO	UNIT 99/99/9999	G05155125	788	75,000	SH		DFND		75,000	0	0
ATLANTIC AVE ACQUISITION COR	*W EXP 10/06/202	04906P119	328	297,915	SH		DFND		297,915	0	0
AVANTI ACQUISITION CORP	UNIT 99/99/9999	G0682V117	1,897	175,000	SH		DFND		175,000	0	0
BARCLAYS PLC	ADR	06738E204	1,520	190,258	SH		DFND		190,258	0	0
BCTG ACQUISITION CORP	COM	05492W103	286	25,000	SH		DFND		25,000	0	0
BETTER WORLD ACQUISITION COR	UNIT 11/15/2027	08772B203	829	75,000	SH		DFND		75,000	0	0
BOWX ACQUISITION CORP	CL A	103085106	1,026	100,000	SH		DFND		100,000	0	0
BOWX ACQUISITION CORP	UNIT 08/03/2025	103085205	803	75,000	SH		DFND		75,000	0	0
BROADSTONE ACQUISITION CORP	UNIT 99/99/9999	G1739V118	1,049	100,000	SH		DFND		100,000	0	0
BULL HORN HLDGS CORP	SHS	G1686P106	510	50,000	SH		DFND		50,000	0	0
BULL HORN HLDGS CORP	UNIT 10/13/2025	G1686P114	569	50,000	SH		DFND		50,000	0	0
BURGUNDY TECHNOLOGY ACQU COR	UNIT 08/26/2025	G1702T132	846	75,000	SH		DFND		75,000	0	0
CAPITOL INVESTMENT CORP V	UNIT 99/99/9999	14064F209	515	50,000	SH		DFND		50,000	0	0
CAPSTAR SPL PURP ACQUISITION	COM CL A	14070Y101	254	25,000	SH		DFND		25,000	0	0
CAPSTAR SPL PURP ACQUISITION	UNIT 07/09/2027	14070Y200	814	75,000	SH		DFND		75,000	0	0
CARNEY TECHNOLOGY ACQU CORP	UNIT 12/10/2025	143636207	1,026	100,000	SH		DFND		100,000	0	0
CASCADE ACQUISITION CORP	UNIT 99/99/9999	147151203	1,306	125,000	SH		DFND		125,000	0	0
CBRE ACQUISITION HLDGS INC	UNIT 99/99/9999	12510J205	523	50,000	SH		DFND		50,000	0	0
CC NEUBERGER PRIN HLDGS II	UNIT 99/99/9999	G3166T129	995	100,000	SH		DFND		100,000	0	0
CF ACQUISITION CORP IV	UNIT 12/31/2027	12520T201	515	50,000	SH		DFND		50,000	0	0
CHURCHILL CAPITAL CORP IV	UNIT 99/99/9999	171439201	2,575	250,000	SH		DFND		250,000	0	0
CITIC CAPITAL ACQUISITION CO	UNIT 99/99/9999	G21513125	571	50,000	SH		DFND		50,000	0	0
COHN ROBBINS HOLDINGS CORP	UNIT 08/11/2025	G23726121	1,613	150,000	SH		DFND		150,000	0	0
CONCORD ACQUISITION CORP	UNIT 12/28/2025	206071201	1,547	150,000	SH		DFND		150,000	0	0
CONSONANCE HFW ACQUISITION C	UNIT 99/99/9999	G2445M129	524	50,000	SH		DFND		50,000	0	0
CONX CORP	UNIT 10/30/2027	212873202	1,045	100,000	SH		DFND		100,000	0	0
D8 HOLDINGS CORP	SHS CL A	G2614K110	1,016	100,000	SH		DFND		100,000	0	0
D8 HOLDINGS CORP	UNIT 99/99/9999	G2614K102	1,069	100,000	SH		DFND		100,000	0	0
DECARBONIZATION PLUS ACQU CO	UNIT 10/02/2025	242797207	1,034	90,000	SH		DFND		90,000	0	0
DELWINDS INS ACQUISITION COR	UNIT 99/99/9999	24803C201	1,530	150,000	SH		DFND		150,000	0	0
DFP HEALTHCARE ACQUISITNS CO	UNIT 03/31/2025	23343Q209	1,121	100,000	SH		DFND		100,000	0	0
DMY TECHNOLOGY GROUP INC III	UNIT 99/99/9999	233278209	912	80,000	SH		DFND		80,000	0	0
DPCM CAP INC	UNIT 99/99/9999	23344P200	551	50,000	SH		DFND		50,000	0	0
DUDDELL STREET ACQUISITN COR	CL A	G28553108	697	70,000	SH		DFND		70,000	0	0
E MERGE TECHNOLOGY ACQUISITI	UNIT 07/30/2025	26873Y203	1,333	125,000	SH		DFND		125,000	0	0
EAST RES ACQUISITION CO	UNIT 07/01/2027	274681204	2,907	275,000	SH		DFND		275,000	0	0
EDOC ACQUISITION CORP	*W EXP 11/30/202	G4000A110	69	100,000	SH		DFND		100,000	0	0
EDOC ACQUISITION CORP	CL A	G4000A102	1,024	100,000	SH		DFND		100,000	0	0
EDOC ACQUISITION CORP	RIGHT 11/30/2027	G4000A136	60	100,000	SH		DFND		100,000	0	0
EDTECHX HOLDINGS ACQU CORP I	UNIT 08/31/2027	28139A201	1,032	100,000	SH		DFND		100,000	0	0
EMPOWER LTD	UNIT 99/99/9999	G3R39W128	1,820	175,000	SH		DFND		175,000	0	0
EQUITY DISTR ACQUISITION COR	UNIT 99/99/9999	29465E205	533	50,000	SH		DFND		50,000	0	0
EXECUTIVE NETWORK PARTNERING	UNIT 99/99/9999	30158L209	2,880	113,000	SH		DFND		113,000	0	0
FALCON CAPITAL ACQUISITN COR	UNIT 08/20/2027	30606L207	534	50,000	SH		DFND		50,000	0	0
FAST ACQUISITION CORP	UNIT 99/99/9999	311875207	1,100	100,000	SH		DFND		100,000	0	0
FG NEW AMER ACQUISITION CORP	UNIT 08/31/2027	30259V205	1,062	100,000	SH		DFND		100,000	0	0
FORTRESS VALUE ACQUISITION I	UNIT 08/10/2027	349642207	837	75,000	SH		DFND		75,000	0	0
FRAZIER LIFESCIENCES ACQU CO	UNIT 12/09/2025	G3710A121	519	50,000	SH		DFND		50,000	0	0
FTAC OLYMPUS ACQUISITION COR	CL A SHS	G37288100	1,030	100,000	SH		DFND		100,000	0	0
FTAC OLYMPUS ACQUISITION COR	UNIT 08/24/2025	G37288118	1,087	100,000	SH		DFND		100,000	0	0
FUSION ACQUISITION CORP	UNIT 99/99/9999	36118H204	309	25,000	SH		DFND		25,000	0	0
GO ACQUISITION CORP	UNIT 08/31/2027	362019200	1,329	125,000	SH		DFND		125,000	0	0
GORES HLDGS V INC	UNIT 99/99/9999	382864205	808	75,000	SH		DFND		75,000	0	0
GORES HOLDINGS VI INC	UNIT 08/24/2027	38286R204	795	75,000	SH		DFND		75,000	0	0
GREENVISION ACQUISITION CORP	COM	39678G103	722	70,000	SH		DFND		70,000	0	0
H I G ACQUISITION CORP	UNIT 99/99/9999	G44898115	782	75,000	SH		DFND		75,000	0	0
HEALTHCARE SERVICES ACQU COR	UNIT 11/18/2023	42227K203	1,022	100,000	SH		DFND		100,000	0	0
HELIX ACQUISITION CORP	COM CL A	G4444C102	257	22,647	SH		DFND		22,647	0	0
HIGHLAND TRANSCEND PARTNERS	UNIT 99/99/9999	G44690116	1,050	100,000	SH		DFND		100,000	0	0
HORIZON ACQUISITION CORP	COM CL A	G46049105	1,002	100,000	SH		DFND		100,000	0	0
HORIZON ACQUISITION CORPORAT	UNIT 99/99/9999	G46044122	859	80,000	SH		DFND		80,000	0	0
HPX CORP	SHS CL A	G32219100	1,002	100,000	SH		DFND		100,000	0	0
HUDSON EXECUTIVE INVT CORP	*W EXP 06/21/202	443761119	259	150,000	SH		DFND		150,000	0	0
HUDSON EXECUTIVE INVT CORP	COM CL A	443761101	1,081	100,000	SH		DFND		100,000	0	0
HUMANCO ACQUISITION CORP	UNIT 12/08/2023	44487N208	276	25,000	SH		DFND		25,000	0	0
INDUSTRIAL TECH ACQU INC	UNIT 08/31/2025	456357201	538	50,000	SH		DFND		50,000	0	0
INVESTINDUSTRIAL ACQUISITION	UNIT 99/99/9999	G4771L121	1,028	100,000	SH		DFND		100,000	0	0
ION ACQUISITION CORP 1 LTD	UNIT 99/99/9999	G49392122	604	50,000	SH		DFND		50,000	0	0
JAWS SPITFIRE ACQUISITION CO	UNIT 99/99/9999	G50740128	553	50,000	SH		DFND		50,000	0	0
JIYA ACQUISITION CORP	COM CL A	47760M102	1,030	100,000	SH		DFND		100,000	0	0
KINGSWOOD ACQUISITION CORP	UNIT 99/99/9999	496861204	1,040	100,000	SH		DFND		100,000	0	0
KINS TECHNOLOGY GROUP INC	UNIT 10/14/2025	49714K208	1,544	150,000	SH		DFND		150,000	0	0
KISMET ACQUISITION ONE CORP	SHS	G52753103	1,010	100,000	SH		DFND		100,000	0	0
KISMET ACQUISITION ONE CORP	UNIT 08/06/2025	G52753129	1,050	100,000	SH		DFND		100,000	0	0
L&F ACQUISITION CORP	UNIT 99/99/9999	G53702125	1,037	100,000	SH		DFND		100,000	0	0
LANDCADIA HOLDINGS III INC	UNIT 99/99/9999	51476H209	894	80,000	SH		DFND		80,000	0	0
LGL SYS ACQUISITION CORP	UNIT 10/24/2024	50201G205	278	25,000	SH		DFND		25,000	0	0
LIFESCI ACQUISITION II CORP	COM	53229E103	534	50,000	SH		DFND		50,000	0	0
LIVE OAK ACQUISITION CORP II	UNIT 99/99/9999	53804W205	1,085	100,000	SH		DFND		100,000	0	0
LLOYDS BANKING GROUP PLC	SPONSORED ADR	539439109	9,761	4,980,083	SH		DFND		4,980,083	0	0
MALLARD ACQUISITION CORP	UNIT 06/30/2027	561204207	1,057	100,000	SH		DFND		100,000	0	0
MONTES ARCHIMEDES ACQUISITIO	UNIT 09/30/2025	612657205	525	50,000	SH		DFND		50,000	0	0
MOTION ACQUISITION CORP	UNIT 10/14/2025	61980M206	1,062	100,000	SH		DFND		100,000	0	0
MOTIVE CAPITAL CORP	UNIT 99/99/9999	G6293A129	1,054	100,000	SH		DFND		100,000	0	0
MUDRICK CAPITAL ACQU CORP II	UNIT 99/99/9999	62477L206	2,320	225,000	SH		DFND		225,000	0	0
NATURAL ORDER ACQUISITION CO	UNIT 99/99/9999	63889L206	868	80,000	SH		DFND		80,000	0	0
NAVSIGHT HLDGS INC	UNIT 99/99/9999	639358209	773	75,000	SH		DFND		75,000	0	0
NEBULA CARAVEL ACQUISITION C	UNIT 12/09/2023	629070202	810	75,000	SH		DFND		75,000	0	0
NEWHOLD INVESTMENT CORP	UNIT 03/10/2025	651448201	1,044	100,000	SH		DFND		100,000	0	0
NEXTGEN ACQUISITION CORP	UNIT 11/26/2020	G65305115	1,029	100,000	SH		DFND		100,000	0	0
NORTH MOUNTAIN MERGER CORP	UNIT 09/16/2025	661204206	1,074	100,000	SH		DFND		100,000	0	0
OMNICHANNEL ACQUISITION CORP	UNIT 99/99/9999	68218L207	1,391	135,000	SH		DFND		135,000	0	0
ONE	UNIT 99/99/9999	G7000X113	569	50,000	SH		DFND		50,000	0	0
OTR ACQUISITION CORP	UNIT 10/01/2025	67113Q204	1,049	100,000	SH		DFND		100,000	0	0
PEARSON PLC	SPONSORED ADR	705015105	491	53,472	SH		DFND		53,472	0	0
PMV CONSUMER ACQUISITION COR	COM	693486102	761	75,000	SH		DFND		75,000	0	0
POPULATION HEALTH INVS CO IN	UNIT 99/99/9999	G71716123	1,045	100,000	SH		DFND		100,000	0	0
PRIME IMPACT ACQUISITION I	UNIT 10/01/2030	G61074111	1,061	100,000	SH		DFND		100,000	0	0
QELL ACQUISITION CORP	UNIT 10/01/2025	G7307X121	663	50,000	SH		DFND		50,000	0	0
RECHARGE ACQUISITION CORP	COM CL A	756229100	1,274	125,000	SH		DFND		125,000	0	0
REDBALL ACQUISITION CORP	COM CL A	G7417R105	545	50,000	SH		DFND		50,000	0	0
REDBALL ACQUISITION CORP	UNIT 99/99/9999	G7417R121	578	50,000	SH		DFND		50,000	0	0
REINVENT TECHNOLOGY PARTNERS	UNIT 99/99/9999	G74847123	285	25,000	SH		DFND		25,000	0	0
REVOLUTION ACCELERTN ACQU CO	UNIT 12/01/2025	76156P205	781	75,000	SH		DFND		75,000	0	0
RMG ACQUISITION CORP II	UNIT 12/09/2025	G76083115	836	75,000	SH		DFND		75,000	0	0
ROMAN DBDR TECH ACQUISITION	UNIT 99/99/9999	77584N200	780	75,000	SH		DFND		75,000	0	0
SANDBRIDGE ACQUISITION CORP	UNIT 99/99/9999	799793203	1,700	165,000	SH		DFND		165,000	0	0
SC HEALTH CORP	COM CL A	G78516203	769	75,000	SH		DFND		75,000	0	0
SCVX CORP	UNIT 99/99/9999	G79448109	1,155	100,000	SH		DFND		100,000	0	0
SEAPORT GLOBAL ACQUISITN COR	UNIT 99/99/9999	812227205	1,306	125,000	SH		DFND		125,000	0	0
SENIOR CONNECT ACQUISITN COR	UNIT 12/09/2023	81723H207	1,029	100,000	SH		DFND		100,000	0	0
SIRIUS INTERNATIONAL INSURAN	COM	G8196D101	725	58,000	SH		DFND		58,000	0	0
SOFTWARE ACQUISITN GRUP INC	COM CL A	83407F101	995	100,000	SH		DFND		100,000	0	0
SPARTAN ACQUISITION CORP II	UNIT 99/99/9999	846775203	810	75,000	SH		DFND		75,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	58	20,000	SH	Call	DFND		20,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	539	160,000	SH	Put	DFND		160,000	0	0
SPORTS ENTERTAINMENT ACQU CO	UNIT 99/99/9999	84918M205	1,075	100,000	SH		DFND		100,000	0	0
SPRING VY ACQUISITION CORP	UNIT 11/11/2025	G8377A116	1,583	150,000	SH		DFND		150,000	0	0
STARBOARD VALUE ACQUISITN CO	UNIT 09/10/2025	85521J208	927	90,000	SH		DFND		90,000	0	0
SUMITOMO MITSUI FINL GROUP I	SPONSORED ADR	86562M209	64,573	10,465,600	SH		DFND		10,465,600	0	0
SUPERNOVA PARTNERS ACQUISITI	UNIT 99/99/9999	86846V207	581	50,000	SH		DFND		50,000	0	0
SUSTAINABLE OPPORTNTS ACQ CO	UNIT 99/99/9999	G8598Y125	295	25,000	SH		DFND		25,000	0	0
TAILWIND ACQUISITION CORP	COM CL A	87403Q102	1,559	150,000	SH		DFND		150,000	0	0
TAILWIND ACQUISITION CORP	UNIT 09/07/2027	87403Q201	539	50,000	SH		DFND		50,000	0	0
THAYER VENTURES ACQU CORP	UNIT 01/01/2030	88332T209	1,048	100,000	SH		DFND		100,000	0	0
TPG PACE TECH OPPORTUNITIES	UNIT 99/99/9999	G8990Y111	284	25,000	SH		DFND		25,000	0	0
TREBIA ACQUISITION CORP	COM CL A	G9027T109	270	25,000	SH		DFND		25,000	0	0
TREBIA ACQUISITION CORP	UNIT 99/99/9999	G9027T125	867	75,000	SH		DFND		75,000	0	0
TREPONT ACQUISITION CORP I	UNIT 99/99/9999	G9095M119	1,037	100,000	SH		DFND		100,000	0	0
TS INNOVATION ACQUISITN CORP	UNIT 99/99/9999	87284T209	1,054	100,000	SH		DFND		100,000	0	0
TWC TECH HLDGS II CORP	UNIT 09/10/2025	90117G204	806	75,000	SH		DFND		75,000	0	0
UNILEVER PLC	SPON ADR NEW	904767704	561	9,296	SH		DFND		9,296	0	0
UNION ACQUISITION CORP II	SHS	G9402Q100	1,040	100,000	SH		DFND		100,000	0	0
VPC IMPACT ACQUISITION HLDNG	UNIT 09/22/2025	G9441E126	1,605	150,000	SH		DFND		150,000	0	0
YATRA ONLINE INC	ORD SHS	G98338109	869	450,000	SH		DFND		450,000	0	0
YELLOWSTONE ACQUISITION CO	UNIT 10/22/2025	98566K204	1,065	100,000	SH		DFND		100,000	0	0
YUCAIPA ACQUISITION CORP	UNIT 99/99/9999	G9879L121	1,020	100,000	SH		DFND		100,000	0	0
ZANITE ACQUISITION CORP	UNIT 10/08/2025	98907K202	1,052	100,000	SH		DFND		100,000	0	0