SEC FORM 13F-HR

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 COVER PAGE

OMB APPROVAL
OMB Number:3235-0006
Expires:Oct 31, 2018
Estimated average burden
hours per response:23.8

Report for the Calendar Year or Quarter Ended:06-30-2016
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, 20TH FLOOR
NEW YORK, NY  10022
Form 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 LittmanNew YorkNY08-05-2016
[Signature][City, State][Date]
Report Type (Check only one.):
X13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
  13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
  13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)
Form 13F Summary Page
Report Summary:
Number of Other Included Managers:3
Form 13F Information Table Entry Total:217
Form 13F Information Table Value Total:1,478,670
(thousands)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
No.Form 13F File NumberName
1028-10674RAMIUS ADVISORS LLC
2028-14361Ramius Alternative Solutions LLC
3028-04125COWEN & COMPANY, LLC

SEC FORM 13-F Information Table

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 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
22ND CENTY GROUP INCCOM90137F1037390,000SH DFND190,00000
AARONS INCCOM PAR $0.500025353001,14152,126SH DFND152,12600
ABBOTT LABSCOM00282410012,194310,200SHCallDFND1310,20000
ACADIA PHARMACEUTICALS INCCOM00422510856817,500SH DFND317,50000
ACTIVISION BLIZZARD INCCOM00507V1091,49737,782SH DFND137,78200
AETNA INC NEWCOM00817Y10812,213100,000SHPutDFND1100,00000
AGCO CORPCOM0010841022,89461,396SH DFND261,39600
ALERE INCCOM01449J1051,03824,900SH DFND124,90000
ALERE INCCOM01449J1051042,500SH DFND32,50000
ALERE INCCOM01449J1051,98847,700SHPutDFND147,70000
ALEXION PHARMACEUTICALS INCCOM0153511095254,500SH DFND14,50000
ALLERGAN PLCSHSG0177J1083,10213,423SH DFND213,42300
ALLERGAN PLCSHSG0177J1083,97717,208SH DFND117,20800
ALLIANCE DATA SYSTEMS CORPCOM0185811084902,500SH DFND12,50000
ALPHABET INCCAP STK CL A02079K3051,2381,760SH DFND11,76000
ALPHABET INCCAP STK CL C02079K1072,5563,693SH DFND13,69300
AMAZON COM INCCOM0231351068,00711,189SH DFND111,18900
AMERICAN CAP LTDCOM02503Y10345,7812,892,014SH DFND12,892,01400
AMERICAN CAP LTDCOM02503Y1031,02965,000SHPutDFND165,00000
AMERICAN INTL GROUP INCCOM NEW02687478461811,693SH DFND111,69300
AMGEN INCCOM0311621007805,125SH DFND15,12500
APOLLO ED GROUP INCCL A0376041056,999767,400SHPutDFND1767,40000
APPLE INCCOM03783310096110,050SH DFND110,05000
APPLE INCCOM0378331001,05211,000SHCallDFND111,00000
APRICUS BIOSCIENCES INCCOM03832V1090175,000SH DFND1175,00000
ASTORIA FINL CORPCOM0462651047,599495,700SH DFND1495,70000
AUTODESK INCCOM0527691063,03856,108SH DFND256,10800
AXIALL CORPCOM05463D1005,508168,900SHPutDFND1168,90000
AXIALL CORPCOM05463D10014,184434,969SH DFND1434,96900
BAKER HUGHES INCCOM0572241073,12869,320SH DFND269,32000
BALL CORPCOM05849810634,649479,300SHCallDFND1479,30000
BANK AMER CORP*W EXP 10/28/201060505153449,417SH DFND349,41700
BANK NEW YORK MELLON CORPCOM0640581003,08179,314SH DFND279,31400
BARCLAYS BK PLCIPATH S&P500 VIX06742E7111,533111,000SHCallDFND1111,00000
BCE INCCOM NEW05534B7601,64034,650SH DFND134,65000
BELMOND LTDCL AG1154H1071,717173,422SH DFND1173,42200
BLACKROCK CORPOR HI YLD FD ICOM09255P1071,891181,125SH DFND1181,12500
BOARDWALK PIPELINE PARTNERSUT LTD PARTNER09662710441023,520SH DFND123,52000
BRISTOL MYERS SQUIBB COCOM1101221085888,000SH DFND18,00000
BROADSOFT INCCOM11133B40992322,500SH DFND122,50000
BUCKEYE PARTNERS L PUNIT LTD PARTN1182301011,36319,375SH DFND119,37500
BUILDERS FIRSTSOURCE INCCOM12008R10732228,652SH DFND128,65200
BWX TECHNOLOGIES INCCOM05605H1003,24390,670SH DFND290,67000
CALADRIUS BIOSCIENCES INCCOM128058104022,500SH DFND122,50000
CAPITAL ONE FINL CORPCOM14040H1053185,000SH DFND15,00000
CARMAX INCCOM1431301021,74835,651SH DFND135,65100
CASCADIAN THERAPEUTICS INCCOM14740B101108114,200SH DFND1114,20000
CAVIUM INCCOM14964U1083,860100,000SHCallDFND1100,00000
CBRE GROUP INCCL A12504L1092,975112,354SH DFND2112,35400
CDK GLOBAL INCCOM12508E1013,18057,309SH DFND257,30900
CEL SCI CORPCOM PAR $0.01150837508048,975SH DFND148,97500
CELATOR PHARMACEUTICALS INCCOM15089R1029,054300,000SHCallDFND1300,00000
CELATOR PHARMACEUTICALS INCCOM15089R1026,392211,800SHPutDFND1211,80000
CENVEO INCCOM15670S1056883,505SH DFND383,50500
CHARTER COMMUNICATIONS INC NCL A16119P1083,28514,369SH DFND214,36900
CHARTER COMMUNICATIONS INC NCL A16119P1088723,814SH DFND13,81400
CITRIX SYS INCCOM1773761005617,000SH DFND17,00000
CLEVELAND BIOLABS INCCOM NEW1858602020109,375SH DFND1109,37500
CONAGRA FOODS INCCOM2058871021,43530,009SH DFND130,00900
CONFORMIS INCCOM20717E10144563,350SH DFND163,35000
COVENANT TRANSN GROUP INCCL A22284P10527115,000SH DFND115,00000
CVENT INCCOM23247G1095,358150,000SHPutDFND1150,00000
CYTRX CORPCOM PAR $.0012328285090321,429SH DFND1321,42900
DEMANDWARE INCCOM24802Y10518,725250,000SHCallDFND1250,00000
DOLLAR GEN CORP NEWCOM2566771052352,500SH DFND12,50000
DOLLAR TREE INCCOM2567461082362,500SH DFND12,50000
DOMINION DIAMOND CORPCOM25728710259667,379SH DFND167,37900
DREAMWORKS ANIMATION SKG INCCL A26153C1032,20353,900SHCallDFND153,90000
DU PONT E I DE NEMOURS & COCOM2635341091,29620,000SHPutDFND120,00000
DU PONT E I DE NEMOURS & COCOM2635341093,27450,518SH DFND250,51800
E M C CORP MASSCOM268648102197,4807,268,303SH DFND17,268,30300
EASTERLY ACQUISITION CORP*W EXP 07/29/20227616L1102944,254SH DFND344,25400
EASTERLY ACQUISITION CORPCOM27616L10248049,000SH DFND349,00000
ELECTRONIC ARTS INCCOM2855121092,42031,944SH DFND131,94400
ELECTRONIC ARTS INCCOM28551210905SH DFND3500
ENERGY TRANSFER PRTNRS L PUNIT LTD PARTN29273R1091,32634,823SH DFND134,82300
ENTERPRISE PRODS PARTNERS LCOM2937921071,44249,280SH DFND149,28000
EXXON MOBIL CORPCOM30231G1022132,271SH DFND12,27100
FACEBOOK INCCL A30303M1023,11127,225SH DFND127,22500
FIDELITY NATIONAL FINANCIALFNF GROUP COM31620R3033,54294,448SH DFND294,44800
GAMING & LEISURE PPTYS INCCOM36467J1084,284124,247SH DFND1124,24700
GENERAL DYNAMICS CORPCOM3695501083482,500SH DFND12,50000
GENERAL ELECTRIC COCOM3696041033,327105,693SH DFND2105,69300
GENTHERM INCCOM37253A10344412,951SH DFND112,95100
GILEAD SCIENCES INCCOM37555810383410,000SH DFND110,00000
GILEAD SCIENCES INCCOM3755581032,08525,000SHCallDFND125,00000
HAIN CELESTIAL GROUP INCCOM4052171003737,500SH DFND17,50000
HENNESSY CAP ACQUISITION CORUNIT 99/99/999942588J20938837,700SH DFND337,70000
HOLLYFRONTIER CORPCOM4361061081,01042,500SH DFND342,50000
HOUSTON AMERN ENERGY CORPCOM44183U100838,000SH DFND138,00000
HUNTINGTON BANCSHARES INCCOM4461501044,470500,000SHPutDFND1500,00000
IAC INTERACTIVECORPCOM44919P5082,26940,300SH DFND140,30000
IMMUNOCELLULAR THERAPEUTICSCOM4525361050225,909SH DFND1225,90900
INGRAM MICRO INCCL A45715310451,1691,471,207SH DFND11,471,20700
INTERNATIONAL BUSINESS MACHSCOM4592001016834,500SH DFND14,50000
INTERVAL LEISURE GROUP INCCOM46113M10866041,500SH DFND141,50000
INVESTORS BANCORP INC NEWCOM46146L1012,963267,414SH DFND2267,41400
ISHARESMSCI JAPAN ETF46428684812,8471,117,100SHCallDFND11,117,10000
ISHARESMSCI MEX CAP ETF4642868222,23644,400SHCallDFND144,40000
ISHARESMSCI MEX CAP ETF4642868221,51130,000SHPutDFND130,00000
ISHARESMSCI TURKEY ETF4642867152,49062,800SHPutDFND162,80000
ISHARES TRCHINA LG-CAP ETF4642871841,89255,300SHCallDFND155,30000
ISHARES TRCHINA LG-CAP ETF4642871844,178122,100SHPutDFND1122,10000
ISHARES TRRUSSELL 2000 ETF46428765515,936138,600SHCallDFND1138,60000
ISHARES TRRUSSELL 2000 ETF464287655124,5811,083,500SHPutDFND11,083,50000
ITC HLDGS CORPCOM4656851055,992127,986SH DFND1127,98600
KATE SPADE & COCOM4858651091,67781,353SH DFND181,35300
KINDER MORGAN INC DEL*W EXP 05/25/20149456B1192148,212SH DFND3148,21200
KLR ENERGY ACQUISITION CORP*W EXP 09/16/20249877M116320,300SH DFND320,30000
KLR ENERGY ACQUISITION CORPUNIT 12/31/202049877M20727527,100SH DFND327,10000
LAM RESEARCH CORPCOM5128071084,20350,000SHPutDFND150,00000
LEXMARK INTL INCCL A52977110714,913395,034SH DFND1395,03400
LIBERTY INTERACTIVE CORPQVC GP COM SER A53071M10439315,500SH DFND115,50000
LIBERTY MEDIA CORP DELAWARECOM A MEDIA GRP53122987068335,667SH DFND135,66700
LIBERTY MEDIA CORP DELAWARECOM A SIRIUSXM5312294092,90992,774SH DFND192,77400
LIMELIGHT NETWORKS INCCOM53261M104153102,500SH DFND1102,50000
LINKEDIN CORPCOM CL A53578A10852,214275,898SH DFND1275,89800
LIONS GATE ENTMNT CORPCOM NEW53591920332416,000SH DFND116,00000
LIVE NATION ENTERTAINMENT INCOM53803410933114,100SH DFND114,10000
LOCKHEED MARTIN CORPCOM5398301096202,500SH DFND12,50000
MADISON SQUARE GARDEN CO NEWCL A55825T1035773,345SH DFND13,34500
MAGELLAN MIDSTREAM PRTNRS LPCOM UNIT RP LP55908010683010,924SH DFND110,92400
MATCH GROUP INCCOM57665R10667945,000SHPutDFND145,00000
MEDIA GEN INC NEWCOM58441K10019,9941,163,110SH DFND11,163,11000
MEDIVATION INCCOM58501N1016,030100,000SHPutDFND1100,00000
MGM RESORTS INTERNATIONALCOM5529531012,19296,881SH DFND196,88100
MICROSOFT CORPCOM5949181043,09960,572SH DFND260,57200
MOLSON COORS BREWING COCL B60871R2096,13360,649SH DFND160,64900
MOLSON COORS BREWING COCL B60871R20999,037979,300SHPutDFND1979,30000
MONDELEZ INTL INCCL A6092071053,27772,015SH DFND272,01500
MONSANTO CO NEWCOM61166W1019,63093,127SH DFND193,12700
MSG NETWORK INCCL A55357310654635,607SH DFND135,60700
MYLAN N VSHS EURON5946510913,076302,400SHCallDFND1302,40000
NANOVIRICIDES INCCOM NEW6300872031373,750SH DFND1373,75000
NEXVET BIOPHARMA PUB LTD COORD SHSG6503X10912827,485SH DFND127,48500
NORWEGIAN CRUISE LINE HLDGSSHSG667211042,93873,748SH DFND173,74800
NVIDIA CORPCOM67066G1041,02621,818SH DFND121,81800
OCULAR THERAPEUTIX INCCOM67576A100628126,904SH DFND1126,90400
ONEOK PARTNERS LPUNIT LTD PARTN68268N10374318,553SH DFND118,55300
ORGANOVO HLDGS INCCOM68620A10423463,000SH DFND163,00000
PAYPAL HLDGS INCCOM70450Y10362817,200SH DFND117,20000
PENN NATL GAMING INCCOM7075691091,567112,313SH DFND1112,31300
PFIZER INCCOM7170811033,22791,661SH DFND291,66100
PFIZER INCCOM71708110369019,600SH DFND319,60000
PINNACLE ENTMT INC NEWCOM72348Y10565058,700SH DFND158,70000
PLAINS GP HLDGS L PSHS A REP LTPN72651A10817716,950SH DFND116,95000
PLURISTEM THERAPEUTICS INCCOM72940R1020180,000SH DFND1180,00000
POLYCOM INCCOM73172K10416,5781,473,563SH DFND11,473,56300
POWERSHARES ETF TRUST IISENIOR LN PORT73936Q76914,326623,700SHPutDFND1623,70000
PROSPECT CAPITAL CORPORATIONCOM74348T1021,861238,000SHPutDFND1238,00000
PRUDENTIAL SHT DURATION HG YCOM74442F1071,43791,000SH DFND191,00000
PVH CORPCOM6936561001,50115,927SH DFND115,92700
QLIK TECHNOLOGIES INCCOM74733T10597,2913,289,089SH DFND13,289,08900
RACKSPACE HOSTING INCCOM7500861003,022144,866SH DFND2144,86600
RADIUS HEALTH INCCOM NEW7504692072396,500SH DFND16,50000
RAYTHEON COCOM NEW7551115073402,500SH DFND12,50000
REMARK MEDIA INCCOM75954W107022,222SH DFND122,22200
RITE AID CORPCOM76775410434,8404,651,539SH DFND14,651,53900
RITE AID CORPCOM7677541044,120550,000SHCallDFND1550,00000
ROFIN SINAR TECHNOLOGIES INCCOM77504310237411,697SH DFND111,69700
ROYAL CARIBBEAN CRUISES LTDCOMV7780T1031,80226,841SH DFND126,84100
SAGE THERAPEUTICS INCCOM78667J1082117,000SH DFND37,00000
SALLY BEAUTY HLDGS INCCOM79546E10429410,000SH DFND110,00000
SANOFIRIGHT 12/31/202080105N113833,334SH DFND333,33400
SBA COMMUNICATIONS CORPCOM78388J1063,42231,707SH DFND231,70700
SCHWAB CHARLES CORP NEWCOM80851310543017,000SH DFND117,00000
SCIENTIFIC GAMES CORPCL A80874P1092,449266,434SH DFND1266,43400
SCOTTS MIRACLE GRO COCL A8101861062864,095SH DFND14,09500
SELECT SECTOR SPDR TRSBI CONS STPLS81369Y3088,548155,000SHCallDFND1155,00000
SELECT SECTOR SPDR TRSBI CONS STPLS81369Y30811,394206,600SHPutDFND1206,60000
SELECT SECTOR SPDR TRSBI INT-INDS81369Y7046,525116,500SHCallDFND1116,50000
SIGNET JEWELERS LIMITEDSHSG812761003,20038,835SH DFND238,83500
SILVER RUN ACQUISITION CORPUNIT 99/99/9999T82811P20029429,425SH DFND329,42500
SPDR GOLD TRUSTGOLD SHS78463V1073,05724,175SH DFND124,17500
SPDR S&P 500 ETF TRTR UNIT78462F1032,61812,500SHPutDFND112,50000
SPDR SERIES TRUSTS&P BIOTECH78464A8701,35725,100SHCallDFND125,10000
SPDR SERIES TRUSTS&P HOMEBUILD78464A8887,453222,200SHCallDFND1222,20000
SPDR SERIES TRUSTS&P METALS MNG78464A7553,986163,300SHPutDFND1163,30000
SPDR SERIES TRUSTS&P RETAIL ETF78464A71494422,500SH DFND322,50000
SS&C TECHNOLOGIES HLDGS INCCOM78467J10036513,000SH DFND113,00000
ST JUDE MED INCCOM790849103116,7231,496,443SH DFND11,496,44300
STAPLES INCCOM8550301021,313152,300SHCallDFND1152,30000
STARZCOM SER A85571Q1027,097237,200SH DFND1237,20000
STERLING BANCORP DELCOM85917A10081651,960SH DFND151,96000
SUBURBAN PROPANE PARTNERS LUNIT LTD PARTN86448210451515,426SH DFND115,42600
SUNOCO LOGISTICS PRTNRS L PCOM UNITS86764L10881028,188SH DFND128,18800
SUNOCO LPCOM U REP LP86765K10939813,300SH DFND113,30000
SYNERGY PHARMACEUTICALS DELCOM NEW871639308675177,700SH DFND1177,70000
SYSCO CORPCOM8718291073,24864,012SH DFND264,01200
TAILORED BRANDS INCCOM87403A1071,578124,628SH DFND1124,62800
TERRAPIN 3 ACQUISITION CORP*W EXP 06/27/20188104P1121363,217SH DFND363,21700
TEVA PHARMACEUTICAL INDS LTDADR8816242096,380127,000SHCallDFND1127,00000
TIME WARNER INCCOM NEW8873173031,40319,080SH DFND119,08000
TIVO INCCOM88870610812,5731,270,032SH DFND11,270,03200
TREEHOUSE FOODS INCCOM89469A1042,48724,230SH DFND124,23000
TRONC INCCOM89703P10727620,000SH DFND320,00000
TWENTY FIRST CENTY FOX INCCL B90130A2003,113114,241SH DFND2114,24100
TYSON FOODS INCCL A9024941031,80026,956SH DFND126,95600
UNDER ARMOUR INCCL C90431120643011,825SH DFND111,82500
VALSPAR CORPCOM92035510417,555162,500SHPutDFND1162,50000
VECTOR GROUP LTDCOM92240M10875133,500SH DFND133,50000
VMWARE INCCL A COM92856340211,444200,000SHCallDFND1200,00000
VONAGE HLDGS CORPCOM92886T2011,556255,000SH DFND1255,00000
VORNADO RLTY TRSH BEN INT9290421092,76427,603SH DFND127,60300
WHOLE FOODS MKT INCCOM9668371061,89259,101SH DFND159,10100
WILLIAMS COS INC DELCOM9694571003,113143,932SH DFND2143,93200
WILLIAMS SONOMA INCCOM9699041011,71132,829SH DFND132,82900
WILLIS TOWERS WATSON PUB LTDSHSG966291033,17225,515SH DFND225,51500
WINTHROP RLTY TRSH BEN INT NEW97639130035240,000SH DFND140,00000
WISDOMTREE TREUROPE HEDGED EQ97717X70132,754648,200SHCallDFND1648,20000
WORLD WRESTLING ENTMT INCCL A98156Q1082,054111,585SH DFND1111,58500
XILINX INCCOM9839191012,96264,215SH DFND264,21500
XOMA CORP DELCOM98419J1070113,636SH DFND1113,63600
XURA INCCOM98420V1077,392302,570SH DFND1302,57000
YAHOO INCCOM98433210613,189351,139SH DFND1351,13900
YUM BRANDS INCCOM9884981013,18538,413SH DFND238,41300
ZYNGA INCCL A98986T1081,005403,728SH DFND1403,72800