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 |
DuPont de Nemours
DD
|
+$211M |
| 2 |
Altria Group
MO
|
+$190M |
| 3 |
Blackrock
BLK
|
+$141M |
| 4 |
CSX Corp
CSX
|
+$133M |
| 5 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$123M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Comcast
CMCSA
|
+$358M |
| 2 |
Charter Communications
CHTR
|
+$331M |
| 3 |
Amazon
AMZN
|
+$192M |
| 4 |
Marathon Petroleum
MPC
|
+$184M |
| 5 |
Alibaba
BABA
|
+$150M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 20.57% |
| 2 | Industrials | 16.4% |
| 3 | Consumer Discretionary | 15.1% |
| 4 | Communication Services | 14.95% |
| 5 | Consumer Staples | 13.37% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Wendy's
WEN
$1.72B
| $29.3M | 0.69% |
+1,781,750
| New | +$27.1M |
|
27
Jack in the Box
JACK
$331M
| $22.1M | 0.52% |
+225,330
| New | +$22.9M |
|
|
28
Marathon Petroleum
MPC
$101B
| $14.6M | 0.34% |
220,660
-3,001,341
| -93% | -$184M |
|
|
29
Amazon
AMZN
$2.79T
| – | – |
-3,987,260
| Closed | -$192M |
|
30
Coca-Cola Europacific Partners
CCEP
$47.7B
| – | – |
-415,050
| Closed | -$17.3M |
|
|
31
Charter Communications
CHTR
$17.9B
| – | – |
-909,571
| Closed | -$331M |
|
|
32
Comcast
CMCSA
$95.3B
| – | – |
-9,313,166
| Closed | -$358M |
|
33
PUT
JD.com
JD
$39.7B
| – | – |
-920,000
| Closed | -$35.1M |
|
34
PUT
Kroger
KR
$35.5B
| – | – |
-643,000
| Closed | -$12.9M |
|
35
Marriott International
MAR
$92.9B
| – | – |
-838,940
| Closed | -$92.5M |
|
36
CALL
RTX Corp
RTX
$283B
| – | – |
-953,400
| Closed | -$69.6M |
|
37
CALL
Constellation Brands
STZ
$23.2B
| – | – |
-100,400
| Closed | -$20M |
|
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Aaron Cowen's Q4 2017 Portfolio in Review
As of Q4 2017, Aaron Cowen held 37 positions worth $4.23B, up 19% from $3.54B the previous quarter. Its ten largest holdings account for 66% of the portfolio.
Aaron Cowen deployed $392M of net new capital in Q4 2017, opening 17 new positions and adding to 7 existing holdings. Its largest new stake was DuPont de Nemours: 1,170,606 shares worth $211M.
By sector, the portfolio is most concentrated in Technology at 21% of assets, up from 17% a quarter earlier, followed by Industrials and Consumer Discretionary.
On the sell side, the largest reduction was Marathon Petroleum, an estimated $184M trimmed.
- Aaron Cowen's largest Q4 2017 buy was DuPont de Nemours: 1,170,606 shares worth $211M.
- Aaron Cowen added most to Salesforce in Q4 2017, an estimated $117M increase.
- Aaron Cowen's biggest Q4 2017 reduction was Marathon Petroleum, cutting an estimated $184M.
- Aaron Cowen fully exited Comcast in Q4 2017, selling an estimated $358M.
- Aaron Cowen's ten largest holdings make up 66% of its $4.23B portfolio in Q4 2017.
- Aaron Cowen opened 17 new positions and closed 9 in Q4 2017.
- Aaron Cowen's portfolio value rose 19% quarter-over-quarter to $4.23B.
Based on Suvretta Capital Management's 13F filing for Q4 2017, filed 14 Feb 2018.