13F-HR 1 cowen3q2012.txt COWEN GROUP, INC. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2012 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Cowen Group, Inc. Address: 599 Lexington Avenue, 2Oth Flr. New York, NY 10022 13F File Number: 028-14571 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Owen Littman Title: General Counsel Phone: 212-201-4841 Signature, Place, and Date of Signing: /s/ Owen Littman New York, NY November 09, 2012 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 5 Form 13F Information Table Entry Total: 333 Form 13F Information Table Value Total: $854,019 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. No. 13F File Number Name 01 028-06309 Ramius LLC 02 028-10674 Ramius Advisors, LLC 03 028-14361 Ramius Alternative Solutions LLC 04 028-10501 Cowen Capital LLC 05 028-04125 Cowen and Company LLC FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- ABBOTT LABS COM 002824100 576 8400 SH PUT DEFINED 05 8400 0 0 ABBOTT LABS COM 002824100 231 3364 SH DEFINED 05 3364 0 0 ACHILLION PHARMACEUTICALS IN COM 00448Q201 336 32300 SH PUT DEFINED 05 32300 0 0 AETNA INC NEW COM 00817Y108 656 16562 SH DEFINED 05 16562 0 0 AETNA INC NEW COM 00817Y108 88 2200 SH CALL DEFINED 05 2200 0 0 AETNA INC NEW COM 00817Y108 1862 47000 SH PUT DEFINED 05 47000 0 0 AMERICAN EXPRESS CO COM 025816109 222 3900 SH PUT DEFINED 05 3900 0 0 AMERICAN INTL GROUP INC COM NEW 026874784 551 16800 SH PUT DEFINED 05 16800 0 0 AMERICAN INTL GROUP INC COM NEW 026874784 449 13706 SH DEFINED 05 13706 0 0 AMERICAN INTL GROUP INC COM NEW 026874784 292 8900 SH CALL DEFINED 05 8900 0 0 AMERIGROUP CORP COM 03073T102 475 5200 SH CALL DEFINED 05 5200 0 0 AMERIGROUP CORP COM 03073T102 25125 274800 SH CALL DEFINED 02 274800 0 0 AMERIGROUP CORP COM 03073T102 10109 110565 SH DEFINED 02 110565 0 0 AMERIGROUP CORP COM 03073T102 566 6189 SH DEFINED 05 6189 0 0 AMPIO PHARMACEUTICALS INC COM 03209T109 195 50000 SH DEFINED 02 50000 0 0 ANADARKO PETE CORP COM 032511107 231 3301 SH DEFINED 05 3301 0 0 ANADARKO PETE CORP COM 032511107 406 5800 SH CALL DEFINED 05 5800 0 0 ANADARKO PETE CORP COM 032511107 567 8100 SH PUT DEFINED 05 8100 0 0 AOL INC COM 00184X105 2438 69200 SH CALL DEFINED 05 69200 0 0 ARENA PHARMACEUTICALS INC COM 040047102 375 45000 SH PUT DEFINED 05 45000 0 0 ARENA PHARMACEUTICALS INC COM 040047102 1023 123000 SH CALL DEFINED 05 123000 0 0 ARENA PHARMACEUTICALS INC COM 040047102 110 13200 SH DEFINED 05 13200 0 0 ARIAD PHARMACEUTICALS INC COM 04033A100 1089 45000 SH DEFINED 02 45000 0 0 ARIBA INC COM NEW 04033V203 37577 838775 SH DEFINED 02 838775 0 0 ARIBA INC COM NEW 04033V203 3073 68600 SH DEFINED 05 68600 0 0 ARIBA INC COM NEW 04033V203 2016 45000 SH CALL DEFINED 05 45000 0 0 ARIBA INC COM NEW 04033V203 2016 45000 SH PUT DEFINED 05 45000 0 0 AT&T INC COM 00206R102 3770 100000 SH CALL DEFINED 02 100000 0 0 AT&T INC COM 00206R102 335 8900 SH CALL DEFINED 05 8900 0 0 AT&T INC COM 00206R102 362 9600 SH PUT DEFINED 05 9600 0 0 ATLAS ENERGY LP COM UNITS LP 04930A104 1382 40000 SH CALL DEFINED 05 40000 0 0 BABCOCK & WILCOX CO NEW COM 05615F102 458 18000 SH DEFINED 05 18000 0 0 BALL CORP COM 058498106 2860 67600 SH CALL DEFINED 05 67600 0 0 BARCLAYS BK PLC IPATH DYNM VIX 06741L609 1215 21349 SH DEFINED 03 21349 0 0 BARCLAYS BK PLC IPATH S&P MT ETN 06740C519 1156 25814 SH DEFINED 03 25814 0 0 BARRICK GOLD CORP COM 067901108 347 8302 SH DEFINED 05 8302 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MYERS SQUIBB CO COM 110122108 131 3900 SH PUT DEFINED 05 3900 0 0 BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 300 6250 SH DEFINED 02 6250 0 0 CABOT OIL & GAS CORP COM 127097103 2007 44700 SH DEFINED 05 44700 0 0 CABOT OIL & GAS CORP COM 127097103 4490 100000 SH PUT DEFINED 05 100000 0 0 CAESARS ENTMT CORP COM 127686103 547 80399 SH DEFINED 02 80399 0 0 CAPITAL ONE FINL CORP COM 14040H105 288 5050 SH DEFINED 02 5050 0 0 CATERPILLAR INC DEL COM 149123101 430 4994 SH DEFINED 05 4994 0 0 CATERPILLAR INC DEL COM 149123101 379 4400 SH CALL DEFINED 05 4400 0 0 CATERPILLAR INC DEL COM 149123101 733 8500 SH PUT DEFINED 05 8500 0 0 CELGENE CORP COM 151020104 963 12600 SH CALL DEFINED 05 12600 0 0 CENTRAL FD CDA LTD CL A 153501101 1310 55000 SH DEFINED 02 55000 0 0 CHESAPEAKE ENERGY CORP COM 165167107 355 18900 SH PUT DEFINED 05 18900 0 0 CHEVRON CORP NEW COM 166764100 3264 28000 SH CALL DEFINED 02 28000 0 0 CHEVRON CORP NEW COM 166764100 23 200 SH PUT DEFINED 05 200 0 0 CHEVRON CORP NEW COM 166764100 384 3300 SH CALL DEFINED 05 3300 0 0 CISCO SYS INC COM 17275R102 240 12583 SH DEFINED 02 12583 0 0 CISCO SYS INC COM 17275R102 2883 151000 SH DEFINED 05 151000 0 0 CISCO SYS INC COM 17275R102 142 7400 SH CALL DEFINED 05 7400 0 0 CISCO SYS INC COM 17275R102 3064 160500 SH PUT DEFINED 05 160500 0 0 COLLECTIVE BRANDS INC COM 19421W100 845 38906 SH DEFINED 02 38906 0 0 CONSTELLATION BRANDS INC CL A 21036P108 3555 109900 SH DEFINED 02 109900 0 0 CONSTELLATION BRANDS INC CL A 21036P108 1618 50000 SH PUT DEFINED 02 50000 0 0 COOPER INDUSTRIES PLC SHS G24140108 1039 13848 SH DEFINED 05 13848 0 0 COVENTRY HEALTH CARE INC COM 222862104 25463 610765 SH DEFINED 02 610765 0 0 COVENTRY HEALTH CARE INC COM 222862104 969 23252 SH DEFINED 05 23252 0 0 COWEN GROUP INC NEW CL A 223622101 2128 786571 SH DEFINED 02 786571 0 0 CREDIT SUISSE NASSAU BRH ETN IDX-LKD 20 22542D845 1602 81113 SH DEFINED 03 81113 0 0 CREDIT SUISSE NASSAU BRH VIX SHT TRM FT 22542D761 116 76500 SH DEFINED 02 76500 0 0 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16407 0 0 DUKE ENERGY CORP NEW COM NEW 26441C204 3272 50500 SH PUT DEFINED 02 50500 0 0 DYNAVAX TECHNOLOGIES CORP COM 268158102 2 500 SH DEFINED 05 500 0 0 DYNAVAX TECHNOLOGIES CORP COM 268158102 301 63200 SH CALL DEFINED 05 63200 0 0 DYNAVAX TECHNOLOGIES CORP COM 268158102 19 3900 SH PUT DEFINED 05 3900 0 0 E M C CORP MASS COM 268648102 292 10700 SH CALL DEFINED 05 10700 0 0 EASTMAN CHEM CO COM 277432100 4555 79900 SH CALL DEFINED 05 79900 0 0 EATON CORP COM 278058102 3180 67275 SH DEFINED 02 67275 0 0 EATON CORP COM 278058102 548 11600 SH CALL DEFINED 05 11600 0 0 ENDO HEALTH SOLUTIONS INC COM 29264F205 793 25000 SH DEFINED 05 25000 0 0 ENDO HEALTH SOLUTIONS INC COM 29264F205 1110 35000 SH PUT DEFINED 05 35000 0 0 ENERGY TRANSFER EQUITY L P COM UT LTD PTN 29273V100 339 7500 SH DEFINED 02 7500 0 0 ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 1115 26200 SH PUT DEFINED 02 26200 0 0 ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 329 7730 SH DEFINED 02 7730 0 0 ENERGY XXI (BERMUDA) LTD USD UNRS SHS G10082140 1612 46100 SH DEFINED 02 46100 0 0 ENTERPRISE PRODS PARTNERS L COM 293792107 1039 19375 SH DEFINED 02 19375 0 0 EXELIXIS INC COM 30161Q104 97 20000 SH DEFINED 02 20000 0 0 EXELON CORP COM 30161N101 43 1200 SH DEFINED 05 1200 0 0 EXELON CORP COM 30161N101 2135 60000 SH CALL DEFINED 05 60000 0 0 EXXON MOBIL CORP COM 30231G102 317 3471 SH DEFINED 02 3471 0 0 EXXON MOBIL CORP COM 30231G102 1444 15800 SH CALL DEFINED 05 15800 0 0 F M C CORP COM NEW 302491303 6197 111900 SH CALL DEFINED 05 111900 0 0 FIRSTMERIT CORP COM 337915102 2349 159700 SH CALL DEFINED 05 159700 0 0 FLAGSTONE REINSURANCE HOLDIN COM L3466T104 430 50000 SH DEFINED 02 50000 0 0 FRANCO NEVADA CORP COM 351858105 8692 147500 SH CALL DEFINED 02 147500 0 0 FRANCO NEVADA CORP COM 351858105 8692 147500 SH PUT DEFINED 02 147500 0 0 FREEPORT-MCMORAN COPPER & GO COM 35671D857 191 4800 SH CALL DEFINED 05 4800 0 0 FREEPORT-MCMORAN COPPER & GO COM 35671D857 1242 31300 SH PUT DEFINED 05 31300 0 0 FREEPORT-MCMORAN COPPER & GO COM 35671D857 585 14769 SH DEFINED 05 14769 0 0 GENERAL ELECTRIC CO COM 369604103 316 13900 SH CALL DEFINED 02 13900 0 0 GENERAL GROWTH PPTYS INC NEW COM 370023103 1946 99900 SH CALL DEFINED 02 99900 0 0 GENON ENERGY INC COM 37244E107 281 111000 SH DEFINED 02 111000 0 0 GENWORTH FINL INC COM CL A 37247D106 183 35000 SH CALL DEFINED 05 35000 0 0 GEO GROUP INC COM 36159R103 412 14900 SH DEFINED 05 14900 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 899 7900 SH PUT DEFINED 05 7900 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 443 3900 SH PUT DEFINED 02 3900 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 428 3767 SH DEFINED 02 3767 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 615 5407 SH DEFINED 05 5407 0 0 GOLDMAN SACHS GROUP INC COM 38141G104 419 3700 SH CALL DEFINED 05 3700 0 0 GOOGLE INC CL A 38259P508 6822 9042 SH DEFINED 02 9042 0 0 GREEN MTN COFFEE ROASTERS IN COM 393122106 1175 49500 SH DEFINED 05 49500 0 0 GREEN MTN COFFEE ROASTERS IN COM 393122106 1187 50000 SH PUT 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05 13700 0 0 PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 3555 155000 SH PUT DEFINED 02 155000 0 0 PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 65 2800 SH PUT DEFINED 05 2800 0 0 PFIZER INC COM 717081103 50 2000 SH DEFINED 05 2000 0 0 PFIZER INC COM 717081103 571 23000 SH CALL DEFINED 05 23000 0 0 PFIZER INC COM 717081103 236 9500 SH PUT DEFINED 05 9500 0 0 PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 753 8535 SH DEFINED 02 8535 0 0 POTASH CORP SASK INC COM 73755L107 496 11400 SH PUT DEFINED 05 11400 0 0 POTASH CORP SASK INC COM 73755L107 309 7106 SH DEFINED 05 7106 0 0 POTASH CORP SASK INC COM 73755L107 113 2600 SH CALL DEFINED 05 2600 0 0 PROCERA NETWORKS INC COM NEW 74269U203 235 10000 SH DEFINED 02 10000 0 0 PROCTER & GAMBLE CO COM 742718109 374 5400 SH PUT DEFINED 05 5400 0 0 PULTE GROUP INC COM 745867101 159 10200 SH CALL DEFINED 05 10200 0 0 QUANTUM FUEL SYS TECH WORLDW COM NEW 74765E208 109 138230 SH DEFINED 02 138230 0 0 QUIKSILVER INC COM 74838C106 296 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0 0 SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 3672 50000 SH PUT DEFINED 02 50000 0 0 SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 5 323 SH DEFINED 05 323 0 0 SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 2464 69066 SH DEFINED 03 69066 0 0 SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 599 16400 SH DEFINED 05 16400 0 0 SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 1311 45629 SH DEFINED 03 45629 0 0 SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 68 2200 SH DEFINED 05 2200 0 0 SELECT SECTOR SPDR TR TECHNOLOGY 81369Y803 4618 149800 SH PUT DEFINED 05 149800 0 0 SHAW GROUP INC COM 820280105 5365 123000 SH DEFINED 02 123000 0 0 SHAW GROUP INC COM 820280105 243 5565 SH DEFINED 05 5565 0 0 SHAW GROUP INC COM 820280105 109 2500 SH CALL DEFINED 05 2500 0 0 SHIRE PLC SPONSORED ADR 82481R106 4391 49500 SH CALL DEFINED 05 49500 0 0 SIGA TECHNOLOGIES INC COM 826917106 2203 688491 SH DEFINED 02 688491 0 0 SILVER WHEATON CORP COM 828336107 248 6200 SH CALL DEFINED 05 6200 0 0 SIRIUS XM RADIO INC COM 82967N108 259 100000 SH DEFINED 02 100000 0 0 SPDR GOLD TRUST GOLD SHS 78463V107 411 2390 SH DEFINED 02 2390 0 0 SPDR INDEX SHS FDS EURO STOXX 50 78463X202 621 20000 SH CALL DEFINED 02 20000 0 0 SPDR S&P 500 ETF TR TR UNIT 78462F103 29 200 SH DEFINED 05 200 0 0 SPDR S&P 500 ETF TR TR UNIT 78462F103 21596 150000 SH CALL DEFINED 02 150000 0 0 SPDR S&P 500 ETF TR TR UNIT 78462F103 110859 770000 SH PUT DEFINED 02 770000 0 0 SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 23225 135578 SH DEFINED 03 135578 0 0 SPDR SERIES TRUST BRCLYS CAP CONV 78464A359 6638 176724 SH DEFINED 03 176724 0 0 SPDR SERIES TRUST S&P METALS MNG 78464A755 27 631 SH DEFINED 05 631 0 0 SPDR SERIES TRUST S&P RETAIL ETF 78464A714 28 452 SH DEFINED 05 452 0 0 SPROTT PHYSICAL GOLD TRUST UNIT 85207H104 684 45000 SH DEFINED 02 45000 0 0 STAPLES INC COM 855030102 806 70000 SH CALL DEFINED 02 70000 0 0 STARBUCKS CORP COM 855244109 248 4900 SH CALL DEFINED 05 4900 0 0 STERLING BANCORP COM 859158107 408 41157 SH DEFINED 02 41157 0 0 SUNCOR ENERGY INC NEW COM 867224107 358 10900 SH PUT DEFINED 05 10900 0 0 SUNOCO INC COM 86764P109 11055 236056 SH DEFINED 02 236056 0 0 SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 1691 36259 SH DEFINED 02 36259 0 0 SUNRISE SENIOR LIVING INC COM 86768K106 6312 442300 SH CALL DEFINED 02 442300 0 0 SYNERGY PHARMACEUTICALS DEL *W EXP 12/06/201 871639118 251 114191 SH DEFINED 02 114191 0 0 TARGET CORP COM 87612E106 69 1100 SH CALL DEFINED 05 1100 0 0 TARGET CORP COM 87612E106 3 41 SH DEFINED 05 41 0 0 TARGET CORP COM 87612E106 203 3200 SH DEFINED 02 3200 0 0 THERAVANCE INC COM 88338T104 220 8500 SH DEFINED 02 8500 0 0 THRESHOLD PHARMACEUTICAL INC COM NEW 885807206 145 20000 SH DEFINED 02 20000 0 0 U S AIRWAYS GROUP INC COM 90341W108 429 41000 SH DEFINED 05 41000 0 0 UNITED STATES OIL FUND LP UNITS 91232N108 1462 45930 SH DEFINED 03 45930 0 0 UNITED STATES STL CORP NEW COM 912909108 304 15900 SH CALL DEFINED 05 15900 0 0 USA TECHNOLOGIES INC *W EXP 12/31/201 90328S195 123 306958 SH DEFINED 02 306958 0 0 VALE S A ADR 91912E105 805 44992 SH DEFINED 02 44992 0 0 VALE S A ADR 91912E105 1389 80000 SH PUT DEFINED 02 80000 0 0 VALEANT PHARMACEUTICALS INTL COM 91911K102 2692 48700 SH CALL DEFINED 05 48700 0 0 VANGUARD INTL EQUITY INDEX F MSCI EMR MKT ETF 922042858 17137 429113 SH DEFINED 03 429113 0 0 VANGUARD INTL EQUITY INDEX F MSCI EUROPE ETF 922042874 4086 95401 SH DEFINED 03 95401 0 0 VERIZON COMMUNICATIONS INC COM 92343V104 625 13700 SH PUT DEFINED 05 13700 0 0 VERTEX PHARMACEUTICALS INC COM 92532F100 335 6000 SH DEFINED 02 6000 0 0 VERTEX PHARMACEUTICALS INC COM 92532F100 73 1300 SH DEFINED 05 1300 0 0 VERTEX PHARMACEUTICALS INC COM 92532F100 112 2000 SH PUT DEFINED 05 2000 0 0 VIRNETX HLDG CORP COM 92823T108 5038 198113 SH DEFINED 02 198113 0 0 VIRNETX HLDG CORP COM 92823T108 3814 150000 SH CALL DEFINED 02 150000 0 0 WALGREEN CO COM 931422109 383 10500 SH CALL DEFINED 05 10500 0 0 WAL-MART STORES INC COM 931142103 133 1800 SH CALL DEFINED 05 1800 0 0 WAL-MART STORES INC COM 931142103 4834 65500 SH PUT DEFINED 02 65500 0 0 WAL-MART STORES INC COM 931142103 390 5300 SH PUT DEFINED 05 5300 0 0 WAL-MART STORES INC COM 931142103 2553 34588 SH DEFINED 02 34588 0 0 WAL-MART STORES INC COM 931142103 2524 34200 SH CALL DEFINED 02 34200 0 0 WAL-MART STORES INC COM 931142103 254 3435 SH DEFINED 05 3435 0 0 WALTER INVT MGMT CORP COM 93317W102 420 11335 SH DEFINED 02 11335 0 0 WELLPOINT INC COM 94973V107 119 2050 SH DEFINED 05 2050 0 0 WELLPOINT INC COM 94973V107 284 4900 SH CALL DEFINED 05 4900 0 0 WELLPOINT INC COM 94973V107 12 200 SH PUT DEFINED 05 200 0 0 WELLS FARGO & CO NEW COM 949746101 562 16300 SH PUT DEFINED 05 16300 0 0 WELLS FARGO & CO NEW COM 949746101 437 12700 SH CALL DEFINED 05 12700 0 0 WHOLE FOODS MKT INC COM 966837106 244 2500 SH PUT DEFINED 05 2500 0 0 WHOLE FOODS MKT INC COM 966837106 4 45 SH DEFINED 05 45 0 0 WHOLE FOODS MKT INC COM 966837106 117 1200 SH CALL DEFINED 05 1200 0 0 YAHOO INC COM 984332106 4069 254700 SH CALL DEFINED 02 254700 0 0 YAHOO INC COM 984332106 204 12700 SH CALL DEFINED 05 12700 0 0 YAHOO INC COM 984332106 5 300 SH PUT DEFINED 05 300 0 0 YUM BRANDS INC COM 988498101 471 7100 SH PUT DEFINED 05 7100 0 0 YUM BRANDS INC COM 988498101 272 4097 SH DEFINED 05 4097 0 0 YUM BRANDS INC COM 988498101 332 5000 SH CALL DEFINED 05 5000 0 0