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 |
JPMorgan Chase
JPM
|
+$118M |
| 2 |
Marathon Petroleum
MPC
|
+$96.7M |
| 3 |
Home Depot
HD
|
+$76.9M |
| 4 |
State Street SPDR S&P Biotech ETF
XBI
|
+$75.5M |
| 5 |
Walt Disney
DIS
|
+$72.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$294M |
| 2 |
Amazon
AMZN
|
+$232M |
| 3 |
Meta Platforms (Facebook)
META
|
+$159M |
| 4 |
AGN
Allergan plc
AGN
|
+$107M |
| 5 |
Merck
MRK
|
+$105M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 14.52% |
| 2 | Communication Services | 12.63% |
| 3 | Financials | 11.34% |
| 4 | Technology | 11.2% |
| 5 | Consumer Staples | 9.48% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
JD.com
JD
$39.7B
| $47M | 1.22% |
+1,848,300
| New | +$48.2M |
|
27
Coca-Cola Europacific Partners
CCEP
$47.7B
| $46.2M | 1.2% |
+1,472,700
| New | +$51.9M |
|
28
US Foods
USFD
$23.7B
| $45.6M | 1.18% |
1,660,900
+535,000
| +48% | +$12.8M |
|
29
Cigna
CI
$73.3B
| $45.2M | 1.17% |
+339,200
| New | +$44.4M |
|
30
Altria Group
MO
$110B
| $41.2M | 1.07% |
+608,600
| New | +$39.2M |
|
31
Salesforce
CRM
$171B
| $40.4M | 1.05% |
+589,900
| New | +$42.8M |
|
|
FL
32
DELISTED
Foot Locker
FL
| $38.1M | 0.99% |
+537,100
| New | +$38.2M |
|
33
Elevance Health
ELV
$86.9B
| $35.2M | 0.91% |
+244,700
| New | +$32.8M |
|
34
Synchrony
SYF
$25.9B
| $27.8M | 0.72% |
+766,779
| New | +$24.5M |
|
35
Citigroup
C
$221B
| $27M | 0.7% |
+454,500
| New | +$24.5M |
|
|
MIK
36
DELISTED
Michaels Stores, Inc
MIK
| $26.7M | 0.69% |
+1,305,000
| New | +$30.3M |
|
37
Ulta Beauty
ULTA
$22.4B
| $26.5M | 0.69% |
+103,862
| New | +$25.9M |
|
|
OPLN
38
Openlane
OPLN
$4.08B
| $26.4M | 0.68% |
+1,636,455
| New | +$26.1M |
|
|
CIT
39
DELISTED
CIT Group Inc.
CIT
| $26.2M | 0.68% |
+612,900
| New | +$24.1M |
|
|
MBLY
40
DELISTED
Mobileye N.V.
MBLY
| $21.7M | 0.56% |
+569,849
| New | +$21.4M |
|
41
CALL
lululemon athletica
LULU
$13.7B
| $18.8M | 0.49% |
+290,000
| New | +$17.3M |
|
|
42
CALL
JD.com
JD
$39.7B
| $18.6M | 0.48% |
+732,000
| New | +$19.1M |
|
|
43
CALL
Marathon Petroleum
MPC
$101B
| $16.6M | 0.43% |
+330,000
| New | +$15M |
|
44
Capital One
COF
$134B
| $13.5M | 0.35% |
+155,276
| New | +$12.5M |
|
|
45
lululemon athletica
LULU
$13.7B
| $12M | 0.31% |
+185,000
| New | +$11M |
|
|
46
Apple
AAPL
$4.51T
| – | – |
-10,399,600
| Closed | -$294M |
|
|
47
Amazon
AMZN
$2.79T
| – | – |
-5,548,000
| Closed | -$232M |
|
48
Aramark
ARMK
$15.8B
| – | – |
-1,977,020
| Closed | -$54.3M |
|
49
CALL
Comcast
CMCSA
$95.3B
| – | – |
-2,400,000
| Closed | -$79.6M |
|
50
Canadian Pacific Kansas City
CP
$85B
| – | – |
-418,500
| Closed | -$12.8M |
|
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Aaron Cowen's Q4 2016 Portfolio in Review
As of Q4 2016, Aaron Cowen held 66 positions worth $3.86B, up 24% from $3.12B the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Aaron Cowen deployed $648M of net new capital in Q4 2016, opening 35 new positions and adding to 8 existing holdings. Its largest new stake was JPMorgan Chase: 1,553,400 shares worth $134M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 15% of assets, down from 18% a quarter earlier, followed by Communication Services and Financials.
On the sell side, the largest reduction was Aetna Inc, an estimated $35.9M trimmed.
- Aaron Cowen's largest Q4 2016 buy was JPMorgan Chase: 1,553,400 shares worth $134M.
- Aaron Cowen added most to Corpay in Q4 2016, an estimated $44.5M increase.
- Aaron Cowen's biggest Q4 2016 reduction was Aetna Inc, cutting an estimated $35.9M.
- Aaron Cowen fully exited Apple in Q4 2016, selling an estimated $294M.
- Aaron Cowen's ten largest holdings make up 59% of its $3.86B portfolio in Q4 2016.
- Aaron Cowen opened 35 new positions and closed 21 in Q4 2016.
- Aaron Cowen's portfolio value rose 24% quarter-over-quarter to $3.86B.
Based on Suvretta Capital Management's 13F filing for Q4 2016, filed 14 Feb 2017.