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 |
Meta Platforms (Facebook)
META
|
+$484M |
| 2 |
Boeing
BA
|
+$235M |
| 3 |
JPMorgan Chase
JPM
|
+$139M |
| 4 |
DuPont de Nemours
DD
|
+$138M |
| 5 |
AABA
Altaba Inc
AABA
|
+$116M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Altria Group
MO
|
+$202M |
| 2 |
Blackrock
BLK
|
+$149M |
| 3 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$142M |
| 4 |
CSX Corp
CSX
|
+$138M |
| 5 |
UnitedHealth
UNH
|
+$117M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.16% |
| 2 | Communication Services | 18.06% |
| 3 | Industrials | 17.24% |
| 4 | Materials | 13.45% |
| 5 | Consumer Discretionary | 9.61% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
CSX Corp
CSX
$95.3B
| – | – |
-7,532,994
| Closed | -$138M |
|
27
Domino's
DPZ
$11.5B
| – | – |
-304,168
| Closed | -$57.5M |
|
28
FedEx
FDX
$77.9B
| – | – |
-149,400
| Closed | -$37.3M |
|
29
Jack in the Box
JACK
$349M
| – | – |
-225,330
| Closed | -$22.1M |
|
|
OPLN
30
Openlane
OPLN
$4.13B
| – | – |
-2,430,481
| Closed | -$46.5M |
|
|
31
Altria Group
MO
$114B
| – | – |
-2,829,340
| Closed | -$202M |
|
32
Marathon Petroleum
MPC
$101B
| – | – |
-220,660
| Closed | -$14.6M |
|
33
Norfolk Southern
NSC
$78.8B
| – | – |
-656,830
| Closed | -$95.2M |
|
34
Ulta Beauty
ULTA
$23B
| – | – |
-256,004
| Closed | -$57.3M |
|
|
35
UnitedHealth
UNH
$355B
| – | – |
-529,545
| Closed | -$117M |
|
36
Union Pacific
UNP
$183B
| – | – |
-856,300
| Closed | -$115M |
|
37
Wendy's
WEN
$1.7B
| – | – |
-1,781,750
| Closed | -$29.3M |
|
|
TFCFA
38
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| – | – |
-4,120,210
| Closed | -$142M |
|
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Aaron Cowen's Q1 2018 Portfolio in Review
As of Q1 2018, Aaron Cowen held 38 positions worth $3.96B, down 6.3% from $4.23B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Aaron Cowen withdrew a net $232M in Q1 2018, closing 17 positions and reducing 7 holdings. Its most notable exit was Altria Group, an estimated $202M position sold in full.
By sector, the portfolio is most concentrated in Technology at 25% of assets, up from 21% a quarter earlier, followed by Communication Services and Industrials.
Against the trend, Aaron Cowen opened a new position in Meta Platforms (Facebook) worth $431M.
- Aaron Cowen's largest Q1 2018 buy was Meta Platforms (Facebook): 2,695,581 shares worth $431M.
- Aaron Cowen added most to DuPont de Nemours in Q1 2018, an estimated $138M increase.
- Aaron Cowen's biggest Q1 2018 reduction was Adobe, cutting an estimated $114M.
- Aaron Cowen fully exited Altria Group in Q1 2018, selling an estimated $202M.
- Aaron Cowen's ten largest holdings make up 78% of its $3.96B portfolio in Q1 2018.
- Aaron Cowen opened 10 new positions and closed 17 in Q1 2018.
- Aaron Cowen's portfolio value fell 6.3% quarter-over-quarter to $3.96B.
Based on Suvretta Capital Management's 13F filing for Q1 2018, filed 15 May 2018.