SEC FORM 13F-HR/A

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: July 31, 2015
Estimated average burden
hours per response: 23.8

Report for the Calendar Year or Quarter Ended: 03-31-2018
Check here if Amendment X Amendment Number: 1
This Amendment (Check only one.): X is a restatement.
   adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: COWEN 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 Littman New YorkNY 05-15-2018
[Signature] [City, State] [Date]
Report Type (Check only one.):
X 13F 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: 5
Form 13F Information Table Entry Total: 156
Form 13F Information Table Value Total: 67,348,898
(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 Number Name
1 028-10674 RAMIUS ADVISORS LLC
2 028-04125 COWEN & COMPANY, LLC
3   COWEN EXECUTION SERVICES LLC
4 028-13626 Cowen Investment Management LLC
5 028-18662 Margate Capital Management LP

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: July 31, 2015
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
8POINT3 ENERGY PARTNERS LP CL A RPT LTDPT 282539105 2,075 170,818 SH   DFND 1 170,818 0 0
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 368 2,400 SH   DFND 4 2,400 0 0
ACORDA THERAPEUTICS INC COM 00484M106 23,903 479,836 SH   DFND 1 479,836 0 0
ADOBE SYS INC COM 00724F101 14,126 65,373 SH   DFND 5 65,373 0 0
AETNA INC NEW COM 00817Y108 28,939,682 1,660,418 SH   DFND 1 1,660,418 0 0
AKORN INC COM 009728106 55,567 169,989 SH   DFND 1 169,989 0 0
ALPHABET INC CAP STK CL C 02079K107 1,689 1,636 SH   DFND 4 1,636 0 0
ALTA MESA RES INC CL A 02133L109 1,658 207,198 SH   DFND 4 207,198 0 0
ALTABA INC COM 021346101 5,901 79,700 SH   DFND 4 79,700 0 0
ALTRIA GROUP INC COM 02209S103 804 12,900 SH   DFND 4 12,900 0 0
AMAZON COM INC COM 023135106 11,919 8,235 SH   DFND 4 8,235 0 0
AMERISOURCEBERGEN CORP COM 03073E105 5,604 65,000 SH   DFND 1 65,000 0 0
ANALOG DEVICES INC COM 032654105 7,269 79,767 SH   DFND 5 79,767 0 0
APPLE INC COM 037833100 2,858 17,031 SH   DFND 4 17,031 0 0
APTIV PLC SHS G6095L109 8,036 94,574 SH   DFND 5 94,574 0 0
AT&T INC COM 00206R102 217,558 1,149,845 SH   DFND 1 1,149,845 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 636 5,600 SH   DFND 4 5,600 0 0
AUTOZONE INC COM 053332102 584 900 SH   DFND 4 900 0 0
BHP BILLITON LTD SPONSORED ADR 088606108 3,689 83,027 SH   DFND 4 83,027 0 0
BHP BILLITON PLC SPONSORED ADR 05545E209 810 20,395 SH   DFND 4 20,395 0 0
BLACKHAWK NETWORK HLDGS INC COM 09238E104 29,509 660,158 SH   DFND 1 660,158 0 0
BLACKROCK INC COM 09247X101 3,850 7,107 SH   DFND 5 7,107 0 0
BOOKING HLDGS INC COM 09857L108 832 400 SH   DFND 4 400 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 816 12,900 SH   DFND 4 12,900 0 0
CADENCE DESIGN SYSTEM INC COM 127387108 8,130 221,101 SH   DFND 5 221,101 0 0
CAESARS ENTMT CORP COM 127686103 4,151 368,991 SH   DFND 5 368,991 0 0
CALLIDUS SOFTWARE INC COM 13123E500 1,107 30,800 SH   DFND 1 30,800 0 0
CAPITAL ONE FINL CORP COM 14040H105 479 5,000 SH   DFND 4 5,000 0 0
CAPITOL INVT CORP IV CL A ORD G18920101 967 100,000 SH   DFND 4 100,000 0 0
CAPITOL INVT CORP IV UNIT 99/99/9999 G18920119 506 50,000 SH   DFND 4 50,000 0 0
CAVIUM INC COM 14964U108 124,058 1,562,839 SH   DFND 1 1,562,839 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 7,864 25,267 SH   DFND 5 25,267 0 0
CHEVRON CORP NEW COM 166764100 306 2,683 SH   DFND 4 2,683 0 0
CHICAGO BRIDGE & IRON CO N V COM 167250109 4,320 300,000 SH   DFND 1 300,000 0 0
CHIPOTLE MEXICAN GRILL INC COM 169656105 549 1,700 SH   DFND 4 1,700 0 0
CIGNA CORPORATION COM 125509109 1,956,788 225,000 SH   DFND 1 225,000 0 0
CISCO SYS INC COM 17275R102 682 15,900 SH   DFND 4 15,900 0 0
COCA COLA CO COM 191216100 465 10,700 SH   DFND 4 10,700 0 0
COMMSCOPE HLDG CO INC COM 20337X109 5,913 147,937 SH   DFND 5 147,937 0 0
CONOCOPHILLIPS COM 20825C104 480 8,100 SH   DFND 4 8,100 0 0
COSTCO WHSL CORP NEW COM 22160K105 414 2,200 SH   DFND 4 2,200 0 0
COWEN INC CL A NEW 223622606 1,969 149,188 SH   DFND 4 149,188 0 0
CVS HEALTH CORP COM 126650100 378,417 619,900 SH   DFND 1 619,900 0 0
DEERE & CO COM 244199105 7,670 49,383 SH   DFND 5 49,383 0 0
DISCOVERY COMMUNICATNS NEW COM SER C 25470F302 6,167 315,931 SH   DFND 4 315,931 0 0
DISNEY WALT CO COM DISNEY 254687106 542 5,400 SH   DFND 4 5,400 0 0
DISNEY WALT CO COM DISNEY 254687106 2,034 20,253 SH   DFND 5 20,253 0 0
DOMINION ENERGY INC COM 25746U109 16,655 200,000 SH   DFND 1 200,000 0 0
DR PEPPER SNAPPLE GROUP INC COM 26138E109 1,657 14,000 SH   DFND 1 14,000 0 0
DST SYS INC DEL COM 233326107 22,130 264,552 SH   DFND 1 264,552 0 0
EL PASO ELEC CO COM NEW 283677854 0 951,000 SH   DFND 1 951,000 0 0
ENEL GENERACION CHILE S A SPONSORED ADR 29244T101 10,507 368,322 SH   DFND 4 368,322 0 0
ENVISION HEALTHCARE CORP COM 29414D100 1,921 50,000 SH   DFND 1 50,000 0 0
EXPRESS SCRIPTS HLDG CO COM 30219G108 232,212 1,908,091 SH   DFND 1 1,908,091 0 0
EXXON MOBIL CORP COM 30231G102 1,791 24,000 SH   DFND 4 24,000 0 0
FACEBOOK INC CL A 30303M102 7,098 44,422 SH   DFND 5 44,422 0 0
FGL HLDGS ORD SHS G3402M102 521 51,300 SH   DFND 4 51,300 0 0
GCI LIBERTY INC COM CLASS A 36164V305 3,450 65,269 SH   DFND 4 65,269 0 0
GENERAL DYNAMICS CORP COM 369550108 1,061 4,800 SH   DFND 4 4,800 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 479 1,900 SH   DFND 4 1,900 0 0
HENNESSY CAP ACQUSTON CORP I UNIT 06/15/2024 42588L204 4,734 450,000 SH   DFND 4 450,000 0 0
HOME DEPOT INC COM 437076102 680 3,816 SH   DFND 4 3,816 0 0
HRG GROUP INC COM 40434J100 2,868 173,896 SH   DFND 4 173,896 0 0
IAC INTERACTIVECORP COM 44919P508 1,501 9,600 SH   DFND 4 9,600 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 1,035 6,750 SH   DFND 4 6,750 0 0
INTL PAPER CO COM 460146103 80,252 200,000 SH   DFND 1 200,000 0 0
ISHARES TR RUSSELL 2000 ETF 464287655 56,936 375,000 SH   DFND 4 375,000 0 0
JOHNSON & JOHNSON COM 478160104 1,366 10,657 SH   DFND 4 10,657 0 0
KAPSTONE PAPER & PACKAGING C COM 48562P103 3,701 107,880 SH   DFND 1 107,880 0 0
KROGER CO COM 501044101 596 24,900 SH   DFND 4 24,900 0 0
LA QUINTA HLDGS INC COM 50420D108 4,741 250,694 SH   DFND 4 250,694 0 0
LADDER CAP CORP CL A 505743104 754 50,000 SH   DFND 4 50,000 0 0
LEGACY ACQUISITION CORP UNIT 05/31/2024 524643202 2,985 300,000 SH   DFND 4 300,000 0 0
LENNAR CORP CL B 526057302 2,149 45,070 SH   DFND 4 45,070 0 0
LIBERTY MEDIA CORP DELAWARE COM A SIRIUSXM 531229409 10,757 261,725 SH   DFND 4 261,725 0 0
LIONS GATE ENTMNT CORP CL B NON VTG 535919500 2,886 119,852 SH   DFND 4 119,852 0 0
LIONS GATE ENTMNT CORP CL B NON VTG 535919500 4,829 200,539 SH   DFND 5 200,539 0 0
LOCKHEED MARTIN CORP COM 539830109 372 1,100 SH   DFND 4 1,100 0 0
MADISON SQUARE GARDEN CO NEW CL A 55825T103 5,810 23,639 SH   DFND 5 23,639 0 0
MATLIN & PARTNERS ACQUISITIO UNIT 05/28/2021A 57682V205 6,168 600,000 SH   DFND 4 600,000 0 0
MAXIM INTEGRATED PRODS INC COM 57772K101 2,150 35,702 SH   DFND 5 35,702 0 0
MEDTRONIC PLC SHS G5960L103 444 6,500 SH   DFND 4 6,500 0 0
MERCK & CO INC COM 58933Y105 501 9,200 SH   DFND 4 9,200 0 0
METLIFE INC COM 59156R108 243 5,300 SH   DFND 4 5,300 0 0
MICROSEMI CORP COM 595137100 233,433 3,403,819 SH   DFND 1 3,403,819 0 0
MICROSOFT CORP COM 594918104 10,253 112,336 SH   DFND 5 112,336 0 0
MICROSOFT CORP COM 594918104 224 2,451 SH   DFND 4 2,451 0 0
MONDELEZ INTL INC CL A 609207105 638 15,300 SH   DFND 4 15,300 0 0
MONSANTO CO NEW COM 61166W101 41,149 352,634 SH   DFND 1 352,634 0 0
MULESOFT INC CL A 625207105 2,960 67,309 SH   DFND 1 67,309 0 0
NEXTERA ENERGY INC COM 65339F101 817 5,000 SH   DFND 4 5,000 0 0
NIKE INC CL B 654106103 498 7,500 SH   DFND 4 7,500 0 0
NORTHROP GRUMMAN CORP COM 666807102 698 2,000 SH   DFND 4 2,000 0 0
NVIDIA CORP COM 67066G104 1,348 5,820 SH   DFND 4 5,820 0 0
NXP SEMICONDUCTORS N V COM N6596X109 32,148,588 2,199,453 SH   DFND 1 2,199,453 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 273 4,200 SH   DFND 4 4,200 0 0
OCI PARTNERS LP COM UNIT REP LP 67091N108 6,503 710,763 SH   DFND 4 710,763 0 0
ORACLE CORP COM 68389X105 334 7,300 SH   DFND 4 7,300 0 0
ORBOTECH LTD ORD M75253100 8,096 130,202 SH   DFND 1 130,202 0 0
OSPREY ENERGY ACQUISITION CO UNIT 07/21/2022 688397207 1,010 100,000 SH   DFND 4 100,000 0 0
PAYPAL HLDGS INC COM 70450Y103 2 25 SH   DFND 4 25 0 0
PAYPAL HLDGS INC COM 70450Y103 13,292 175,196 SH   DFND 5 175,196 0 0
PENN NATL GAMING INC COM 707569109 2,749 104,677 SH   DFND 1 104,677 0 0
PEPSICO INC COM 713448108 578 5,300 SH   DFND 4 5,300 0 0
PEPSICO INC COM 713448108 3,934 36,039 SH   DFND 5 36,039 0 0
PETROBRAS ARGENTINA S A SPONS ADR 71646J109 10,032 850,162 SH   DFND 4 850,162 0 0
PG&E CORP COM 69331C108 325 7,400 SH   DFND 4 7,400 0 0
PHH CORP COM NEW 693320202 785 75,000 SH   DFND 1 75,000 0 0
PHILIP MORRIS INTL INC COM 718172109 299 3,000 SH   DFND 4 3,000 0 0
PHILLIPS 66 COM 718546104 317 3,300 SH   DFND 4 3,300 0 0
PINNACLE FOODS INC DEL COM 72348P104 2,221 41,049 SH   DFND 5 41,049 0 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 28,823 180,000 SH   DFND 5 180,000 0 0
PROCTER AND GAMBLE CO COM 742718109 809 10,200 SH   DFND 4 10,200 0 0
PROSHARES TR ULTRASHRT S&P500 74347B383 1,126 27,488 SH   DFND 4 27,488 0 0
PRUDENTIAL SHT DURATION HG Y COM 74442F107 243 17,225 SH   DFND 4 17,225 0 0
QUALCOMM INC COM 747525103 866,325 1,308,220 SH   DFND 1 1,308,220 0 0
RAYTHEON CO COM NEW 755111507 1,295 6,000 SH   DFND 4 6,000 0 0
RITE AID CORP COM 767754104 84 50,000 SH   DFND 4 50,000 0 0
ROCKWELL COLLINS INC COM 774341101 47,869 354,982 SH   DFND 1 354,982 0 0
ROKU INC COM CL A 77543R102 4,665 150,000 SH   DFND 4 150,000 0 0
SALESFORCE COM INC COM 79466L302 13,674 117,575 SH   DFND 5 117,575 0 0
SCHLUMBERGER LTD COM 806857108 220 3,400 SH   DFND 4 3,400 0 0
SCHWAB CHARLES CORP NEW COM 808513105 862 16,500 SH   DFND 4 16,500 0 0
SEAGATE TECHNOLOGY PLC SHS G7945M107 626 10,700 SH   DFND 4 10,700 0 0
SERVICENOW INC COM 81762P102 7,467 45,130 SH   DFND 5 45,130 0 0
SIMON PPTY GROUP INC NEW COM 828806109 232 1,500 SH   DFND 4 1,500 0 0
SIRIUS XM HLDGS INC COM 82968B103 4,680 750,000 SH   DFND 4 750,000 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 342 1,300 SH   DFND 4 1,300 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 23,091 87,749 SH   DFND 5 87,749 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 236,474 497,928 SH   DFND 1 497,928 0 0
SPLUNK INC COM 848637104 2,532 25,734 SH   DFND 5 25,734 0 0
SPROTT PHYSICAL GOLD & SILVE TR UNIT 85208R101 10,528 796,340 SH   DFND 4 796,340 0 0
STARBUCKS CORP COM 855244109 295 5,100 SH   DFND 4 5,100 0 0
STERLING BANCORP DEL COM 85917A100 1,172 51,960 SH   DFND 4 51,960 0 0
STEWART INFORMATION SVCS COR COM 860372101 4,525 102,977 SH   DFND 1 102,977 0 0
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 5,356 54,772 SH   DFND 5 54,772 0 0
TEXAS INSTRS INC COM 882508104 769 7,400 SH   DFND 4 7,400 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 661 3,200 SH   DFND 4 3,200 0 0
TIME WARNER INC COM NEW 887317303 23,610 249,631 SH   DFND 1 249,631 0 0
TIME WARNER INC COM NEW 887317303 12,199 128,986 SH   DFND 5 128,986 0 0
TWENTY FIRST CENTY FOX INC CL A 90130A101 953 25,980 SH   DFND 1 25,980 0 0
UNILEVER PLC SPON ADR NEW 904767704 8,744 157,381 SH   DFND 4 157,381 0 0
UNITED PARCEL SERVICE INC CL B 911312106 586 5,600 SH   DFND 4 5,600 0 0
UNITED TECHNOLOGIES CORP COM 913017109 2,613 20,769 SH   DFND 1 20,769 0 0
UNITED TECHNOLOGIES CORP COM 913017109 7,719 61,352 SH   DFND 5 61,352 0 0
UNITEDHEALTH GROUP INC COM 91324P102 321 1,500 SH   DFND 4 1,500 0 0
US BANCORP DEL COM NEW 902973304 283 5,600 SH   DFND 4 5,600 0 0
VALIDUS HOLDINGS LTD COM SHS G9319H102 20,251 300,237 SH   DFND 1 300,237 0 0
VANECK VECTORS ETF TR SEMICONDUCTOR ET 92189F676 749,262 224,000 SH   DFND 1 224,000 0 0
VECTREN CORP COM 92240G101 6,126 95,833 SH   DFND 1 95,833 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 450 9,400 SH   DFND 4 9,400 0 0
VONAGE HLDGS CORP COM 92886T201 1,074 100,800 SH   DFND 4 100,800 0 0
WALMART INC COM 931142103 231 2,600 SH   DFND 4 2,600 0 0
WELLS FARGO CO NEW COM 949746101 220 4,200 SH   DFND 4 4,200 0 0
WYNN RESORTS LTD COM 983134107 11,496 63,041 SH   DFND 5 63,041 0 0
XL GROUP LTD COM G98294104 394,998 4,334,419 SH   DFND 1 4,334,419 0 0