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 |
UnitedHealth
UNH
|
+$71.7M |
| 2 |
Biohaven
BHVN
|
+$47.3M |
| 3 |
ITCI
Intra-Cellular Therapies Inc.
ITCI
|
+$42.1M |
| 4 |
Sysco
SYY
|
+$38.9M |
| 5 |
Apple
AAPL
|
+$34.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
argenx
ARGX
|
+$48M |
| 2 |
Cigna
CI
|
+$45.6M |
| 3 |
McKesson
MCK
|
+$30.5M |
| 4 |
Verizon
VZ
|
+$23M |
| 5 |
BCYC
Bicycle Therapeutics
BCYC
|
+$22.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 59.12% |
| 2 | Technology | 10.09% |
| 3 | Communication Services | 6.22% |
| 4 | Consumer Discretionary | 5.49% |
| 5 | Financials | 2.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Goldman Sachs
GS
$303B
| $35.3M | 1.3% |
77,948
-31,942
| -29% | -$14M |
|
27
Oracle
ORCL
$422B
| $34.6M | 1.27% |
245,114
+48,440
| +25% | +$6.02M |
|
28
GE Aerospace
GE
$361B
| $32.6M | 1.2% |
204,957
-54,974
| -21% | -$8.78M |
|
29
Erasca
ERAS
$6.17B
| $32.5M | 1.19% |
+13,768,039
| New | +$29.7M |
|
30
CRH
CRH
$63.2B
| $32.4M | 1.19% |
431,984
+96,404
| +29% | +$7.69M |
|
31
ArriVent BioPharma
AVBP
$1.44B
| $31.8M | 1.17% |
1,712,703
+148,994
| +10% | +$2.66M |
|
32
McDonald's
MCD
$192B
| $28.1M | 1.03% |
+110,434
| New | +$29.3M |
|
33
Ferguson
FERG
$46.9B
| $28.1M | 1.03% |
145,040
-24,240
| -14% | -$5.08M |
|
34
Tesla
TSLA
$1.43T
| $26.7M | 0.98% |
+134,913
| New | +$23.6M |
|
|
35
Verizon
VZ
$205B
| $25.2M | 0.92% |
609,904
-569,548
| -48% | -$23M |
|
36
Chipotle Mexican Grill
CMG
$46.7B
| $25M | 0.92% |
398,500
| – | – |
|
37
PepGen
PEPG
$217M
| $24.3M | 0.89% |
1,520,932
| – | – |
|
38
ProKidney
PROK
$336M
| $23M | 0.84% |
9,341,266
+5,473,419
| +142% | +$14.7M |
|
39
Sutro Biopharma
STRO
$349M
| $22.6M | 0.83% |
770,869
+193,050
| +33% | +$7.63M |
|
40
Boston Scientific
BSX
$73B
| $19.4M | 0.71% |
251,689
-51,346
| -17% | -$3.76M |
|
41
Pinterest
PINS
$13.3B
| $18.1M | 0.66% |
409,951
+14,100
| +4% | +$556K |
|
42
Zura Bio
ZURA
$561M
| $17M | 0.63% |
4,860,939
+2,010,939
| +71% | +$8.2M |
|
43
Fulcrum Therapeutics
FULC
$292M
| $15.8M | 0.58% |
2,541,046
-307,440
| -11% | -$2.33M |
|
44
Abeona Therapeutics
ABEO
$348M
| $15.6M | 0.57% |
+3,685,503
| New | +$18.8M |
|
45
Arcus Biosciences
RCUS
$3.86B
| $14.6M | 0.54% |
957,304
| – | – |
|
46
Johnson & Johnson
JNJ
$651B
| $13.2M | 0.48% |
90,097
| – | – |
|
47
Benitec Biopharma
BNTC
$463M
| $11.8M | 0.43% |
1,691,290
+1,487,070
| +728% | +$11M |
|
48
Immatics
IMTX
$1.22B
| $11M | 0.4% |
946,563
| – | – |
|
49
Sanofi
SNY
$110B
| $10.2M | 0.38% |
210,701
| – | – |
|
50
InflaRx
IFRX
$309M
| $9.98M | 0.37% |
5,733,910
| – | – |
|
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Aaron Cowen's Q2 2024 Portfolio in Review
As of Q2 2024, Aaron Cowen held 110 positions worth $2.72B, up 1.1% from $2.69B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Aaron Cowen deployed $160M of net new capital in Q2 2024, opening 9 new positions and adding to 24 existing holdings. Its largest new stake was Sysco: 520,900 shares worth $37.2M.
By sector, the portfolio is most concentrated in Healthcare at 59% of assets, down from 60% a quarter earlier, followed by Technology and Communication Services.
On the sell side, the largest reduction was Cigna, an estimated $45.6M trimmed.
- Aaron Cowen's largest Q2 2024 buy was Sysco: 520,900 shares worth $37.2M.
- Aaron Cowen added most to UnitedHealth in Q2 2024, an estimated $71.7M increase.
- Aaron Cowen's biggest Q2 2024 reduction was Cigna, cutting an estimated $45.6M.
- Aaron Cowen fully exited argenx in Q2 2024, selling an estimated $48M.
- Aaron Cowen's ten largest holdings make up 48% of its $2.72B portfolio in Q2 2024.
- Aaron Cowen opened 9 new positions and closed 12 in Q2 2024.
- Aaron Cowen's portfolio value rose 1.1% quarter-over-quarter to $2.72B.
Based on Suvretta Capital Management's 13F filing for Q2 2024, filed 14 Aug 2024.