Aaron Cowen Suvretta Capital Management
Aaron Cowen is the founder of Suvretta Capital Management, a long/short equity firm with a fundamental research process. The firm invests across sectors with an emphasis on differentiated fundamental views. Cowen’s disclosures are tracked by investors who follow mid-to-large fundamental hedge funds.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AVLN
Avalyn Pharma
AVLN
|
+$72.2M |
| 2 |
HUT
Hut 8
HUT
|
+$65M |
| 3 |
Spotify
SPOT
|
+$48M |
| 4 |
FTH
Faeth Therapeutics
FTH
|
+$45.9M |
| 5 |
CBRS
Cerebras Systems
CBRS
|
+$40.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
APLS
Apellis Pharmaceuticals
APLS
|
+$142M |
| 2 |
KALV
KalVista Pharmaceuticals
KALV
|
+$96M |
| 3 |
Erasca
ERAS
|
+$55.6M |
| 4 |
Mineralys Therapeutics
MLYS
|
+$37.4M |
| 5 |
Performance Food Group
PFGC
|
+$35.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 55.49% |
| 2 | Technology | 10.26% |
| 3 | Consumer Discretionary | 5.22% |
| 4 | Financials | 4.29% |
| 5 | Industrials | 3.72% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Vulcan Materials
VMC
$35.8B
| $63.4M | 1.16% |
214,978
+33,384
| +18% | +$9.57M |
|
27
Ferguson
FERG
$46.9B
| $58.6M | 1.07% |
246,758
+34,858
| +16% | +$8.41M |
|
28
Zura Bio
ZURA
$561M
| $55.7M | 1.02% |
9,443,001
+376,000
| +4% | +$1.79M |
|
29
InflaRx
IFRX
$309M
| $51.4M | 0.94% |
22,933,910
+15,000,000
| +189% | +$28.2M |
|
30
Aura Biosciences
AURA
$809M
| $51.2M | 0.94% |
7,206,217
+2,833,333
| +65% | +$20.3M |
|
|
FTH
31
Faeth Therapeutics
FTH
$827M
| $50.5M | 0.92% |
2,020,103
+1,985,554
| +5,747% | +$45.9M |
|
32
AdvisorShares Pure US Cannabis ETF
MSOS
$996M
| $49.5M | 0.9% |
9,738,524
+692,324
| +8% | +$3.25M |
|
33
Amazon
AMZN
$2.79T
| $48.8M | 0.89% |
204,860
-49,149
| -19% | -$12.3M |
|
34
Replimune Group
REPL
$1.39B
| $48.6M | 0.89% |
4,389,836
+168,000
| +4% | +$1.03M |
|
35
Amphenol
APH
$194B
| $47.5M | 0.87% |
+269,300
| New | +$38.8M |
|
|
36
Spotify
SPOT
$110B
| $46.7M | 0.85% |
101,800
+100,700
| +9,155% | +$48M |
|
|
CTNM
37
Contineum Therapeutics
CTNM
$647M
| $46.6M | 0.85% |
2,841,334
| – | – |
|
38
Apollo Global Management
APO
$78.4B
| $45.3M | 0.83% |
383,300
-4,400
| -1% | -$553K |
|
39
Bank of America
BAC
$431B
| $45M | 0.82% |
789,720
-505,525
| -39% | -$26.9M |
|
|
DRAM
40
Roundhill Memory ETF
DRAM
$27.1B
| $44.5M | 0.81% |
+603,000
| New | +$31.4M |
|
41
Crinetics Pharmaceuticals
CRNX
$8.99B
| $44.4M | 0.81% |
1,186,279
+142,400
| +14% | +$5.29M |
|
|
CBRS
42
Cerebras Systems
CBRS
$46.6B
| $38M | 0.69% |
+171,900
| New | +$40.5M |
|
43
Dick's Sporting Goods
DKS
$16.4B
| $34.3M | 0.63% |
+151,320
| New | +$33.4M |
|
44
Broadcom
AVGO
$1.75T
| $31.6M | 0.58% |
+83,600
| New | +$33.5M |
|
45
Compass Therapeutics
CMPX
$432M
| $30.9M | 0.56% |
14,101,159
-206,220
| -1% | -$609K |
|
46
Lexeo Therapeutics
LXEO
$400M
| $29.7M | 0.54% |
6,384,200
+5,134,200
| +411% | +$27.8M |
|
47
UnitedHealth
UNH
$350B
| $26.7M | 0.49% |
64,130
-36,500
| -36% | -$13.5M |
|
48
ProKidney
PROK
$336M
| $25.2M | 0.46% |
12,341,266
| – | – |
|
|
WHWK
49
Whitehawk Therapeutics
WHWK
$270M
| $19.7M | 0.36% |
4,300,000
+600,000
| +16% | +$2.5M |
|
|
SPCX
50
SpaceX
SPCX
$1.81T
| $17.3M | 0.32% |
+101,200
| New | +$17.2M |
|
Similar funds
Aaron Cowen's Q2 2026 Portfolio in Review
As of Q2 2026, Aaron Cowen held 110 positions worth $5.47B, up 40% from $3.92B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Aaron Cowen deployed $555M of net new capital in Q2 2026, opening 21 new positions and adding to 26 existing holdings. Its largest new stake was Avalyn Pharma: 2,503,109 shares worth $82.4M.
By sector, the portfolio is most concentrated in Healthcare at 55% of assets, down from 65% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Mineralys Therapeutics, an estimated $37.4M trimmed.
- Aaron Cowen's largest Q2 2026 buy was Avalyn Pharma: 2,503,109 shares worth $82.4M.
- Aaron Cowen added most to Spotify in Q2 2026, an estimated $48M increase.
- Aaron Cowen's biggest Q2 2026 reduction was Mineralys Therapeutics, cutting an estimated $37.4M.
- Aaron Cowen fully exited Apellis Pharmaceuticals in Q2 2026, selling an estimated $142M.
- Aaron Cowen's ten largest holdings make up 49% of its $5.47B portfolio in Q2 2026.
- Aaron Cowen opened 21 new positions and closed 14 in Q2 2026.
- Aaron Cowen's portfolio value rose 40% quarter-over-quarter to $5.47B.
Based on Suvretta Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.