Governor Juan Alvarado granted the rancho in 1840 to José María Hernández and Sebastián Peralta. Its name refers to the cougars in the hills and to the corner formed between two mountains above Los Gatos.
Its northern boundary ran along today’s Rincon Avenue, across the north end of John D. Morgan Park, and San Tomas Aquino Creek formed its western edge. Campbell, Los Gatos and Monte Sereno all contain large parts of the old grant.