Cowen Financial Products Exits Sylvamo (SLVM) Stake

TL;DR

**Cowen Financial Products sold all its Sylvamo shares, now owns 0%.**

AI Summary

Cowen Financial Products LLC, a New York-based financial entity, filed an amended SC 13G/A on February 2, 2024, indicating a significant change in its beneficial ownership of Sylvamo Corp (NYSE: SLVM) common stock. As of December 29, 2023, Cowen Financial Products LLC reported owning 0 shares, representing 0% of the class, a decrease from any previous holdings. This matters to investors because it signals that a notable institutional holder has completely exited its position in Sylvamo, potentially reducing institutional support for the stock.

Why It Matters

This filing shows that Cowen Financial Products LLC no longer holds any shares of Sylvamo Corp, indicating a complete divestment by an institutional investor.

Risk Assessment

Risk Level: low — The filing indicates a complete divestment by one entity, which is a clear, unambiguous event with no ongoing uncertainty from this specific filing.

Analyst Insight

Investors should note the complete exit of Cowen Financial Products LLC from Sylvamo Corp, which could signal a lack of conviction from this particular institutional holder. While not necessarily a bearish signal on its own, it warrants further investigation into other institutional ownership changes and Sylvamo's fundamentals.

Key Numbers

• 0 — Shares Beneficially Owned (Cowen Financial Products LLC's current holding in Sylvamo Corp)
• 0% — Percent of Class (Cowen Financial Products LLC's ownership percentage of Sylvamo Corp common stock)

Key Players & Entities

• Cowen Financial Products LLC (company) — the reporting person that filed the SC 13G/A
• Sylvamo Corp (company) — the issuer whose common stock is the subject of the filing
• 0 (dollar_amount) — the number of shares beneficially owned by Cowen Financial Products LLC
• 0% (dollar_amount) — the percentage of class represented by Cowen Financial Products LLC's ownership
• December 29, 2023 (date) — the date of the event requiring the filing

Forward-Looking Statements

• Sylvamo Corp may experience a slight decrease in institutional investor interest due to Cowen Financial Products LLC's complete divestment. (Sylvamo Corp) — medium confidence, target: Q1 2024

FAQ

From the Filing

0001085146-24-000652.txt : 20240202 0001085146-24-000652.hdr.sgml : 20240202 20240202123839 ACCESSION NUMBER: 0001085146-24-000652 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240202 DATE AS OF CHANGE: 20240202 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Sylvamo Corp CENTRAL INDEX KEY: 0001856485 STANDARD INDUSTRIAL CLASSIFICATION: PAPER MILLS [2621] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 862596371 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-92982 FILM NUMBER: 24589721 BUSINESS ADDRESS: STREET 1: 6077 PRIMACY PARKWAY CITY: MEMPHIS STATE: TN ZIP: 38119 BUSINESS PHONE: 901-519-8000 MAIL ADDRESS: STREET 1: 6077 PRIMACY PARKWAY CITY: MEMPHIS STATE: TN ZIP: 38119 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Cowen Financial Products LLC CENTRAL INDEX KEY: 0001771015 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 599 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 BUSINESS PHONE: 6465621000 MAIL ADDRESS: STREET 1: 599 LEXINGTON AVENUE CITY: NEW YORK STATE: NY ZIP: 10022 SC 13G/A 1 slvma1_20224.htm COWEN FINANCIAL PRODUCTS LLC slvma1_20224.htm UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 1)* Sylvamo Corp (Name of Issuer) common stock (Title of Class of Securities) 871332102 (CUSIP Number) December 29, 2023 (Date of Event which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [ ] Rule 13d-1(b) [X] Rule 13d-1(c) [ ] Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see Instructions). CUSIP No.: 871332102 1 NAME OF REPORTING PERSON Cowen Financial Products LLC I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY) 27-0423711 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ] (b) [ ] 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION USA NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH 5 SOLE VOTING POWER 0 6 SHARED VOTING POWER 7 SOLE DISPOSITIVE POWER 0 8 SHARED DISPOSITIVE POWER 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 0 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES [ ] 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 0 12 TYPE OF REPORTING PERSON Passive Investor CUSIP No.: 871332102 ITEM 1(a). NAME OF ISSUER: Sylvamo Corp ITEM 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 6077 Primacy Pkwy Memphis, TN 38119 ITEM 2(a). NAME OF PERSON FILING: Cowen Financial Products LLC ITEM 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE: 599 Lexington Ave. New York, NY 10022 ITEM 2(c). CITIZENSHIP: USA ITEM 2(d). TITLE OF CLASS OF SECURITIES: common stock ITEM 2(e). CUSIP NUMBER: 871332102 ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTION 240.13d-1(b), or 13d-2(b) or (c) CHECK WHETHER THE PERSON FILING IS A: (a) [ ] Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78c); (b) [ ] Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c); (c) [ ] Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c); (d) [ ] Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8); (e) [ ] An investment adviser in acco