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 |
Coca-Cola
KO
|
+$58.2M |
| 2 |
Dick's Sporting Goods
DKS
|
+$48.3M |
| 3 |
GE HealthCare
GEHC
|
+$37.1M |
| 4 |
Danaher
DHR
|
+$31.2M |
| 5 |
GE Aerospace
GE
|
+$24M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Insmed
INSM
|
+$95.9M |
| 2 |
ITCI
Intra-Cellular Therapies Inc.
ITCI
|
+$92.5M |
| 3 |
Microsoft
MSFT
|
+$35.3M |
| 4 |
Chipotle Mexican Grill
CMG
|
+$27.1M |
| 5 |
United Airlines
UAL
|
+$26.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 48.97% |
| 2 | Technology | 9.89% |
| 3 | Consumer Discretionary | 5.64% |
| 4 | Financials | 4.91% |
| 5 | Communication Services | 4.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Home Depot
HD
$335B
| $47.9M | 1.44% |
130,721
+33,150
| +34% | +$12M |
|
27
Kura Oncology
KURA
$1.06B
| $46.8M | 1.41% |
8,116,000
+676,741
| +9% | +$4.15M |
|
28
Bank of America
BAC
$431B
| $43.9M | 1.32% |
927,190
+173,277
| +23% | +$7.29M |
|
29
Capital One
COF
$134B
| $41.3M | 1.25% |
194,160
-51,062
| -21% | -$9.53M |
|
30
Ferguson
FERG
$46.9B
| $41.3M | 1.25% |
189,660
+59,736
| +46% | +$11M |
|
|
31
GE HealthCare
GEHC
$33.8B
| $39.4M | 1.19% |
+532,280
| New | +$37.1M |
|
32
Boston Scientific
BSX
$73B
| $38M | 1.14% |
353,561
+91,462
| +35% | +$9.25M |
|
33
Fulcrum Therapeutics
FULC
$292M
| $35M | 1.05% |
5,082,900
+15,506
| +0.3% | +$82.9K |
|
|
34
Danaher
DHR
$154B
| $34.5M | 1.04% |
174,700
+161,100
| +1,185% | +$31.2M |
|
35
Arcus Biosciences
RCUS
$3.86B
| $30M | 0.91% |
3,688,858
+1,127,954
| +44% | +$9.63M |
|
36
Tesla
TSLA
$1.43T
| $29.3M | 0.88% |
92,357
-29,659
| -24% | -$8.94M |
|
37
Aura Biosciences
AURA
$809M
| $27.4M | 0.83% |
4,372,884
+1,640,998
| +60% | +$9.6M |
|
|
38
Insmed
INSM
$27.5B
| $24M | 0.72% |
238,783
-1,253,600
| -84% | -$95.9M |
|
39
Datadog
DDOG
$84.6B
| $24M | 0.72% |
178,832
-4,399
| -2% | -$487K |
|
40
Mineralys Therapeutics
MLYS
$2.27B
| $23.6M | 0.71% |
1,744,492
+76,733
| +5% | +$1.11M |
|
41
UnitedHealth
UNH
$350B
| $21.2M | 0.64% |
68,000
+38,100
| +127% | +$14.6M |
|
42
Johnson & Johnson
JNJ
$651B
| $20.3M | 0.61% |
132,786
+23,400
| +21% | +$3.6M |
|
43
Biogen
BIIB
$32B
| $19.1M | 0.58% |
151,890
+31,154
| +26% | +$3.88M |
|
44
Compass Therapeutics
CMPX
$432M
| $18.6M | 0.56% |
+7,149,493
| New | +$14.7M |
|
45
Erasca
ERAS
$6.17B
| $18.4M | 0.56% |
14,502,004
+2,187,000
| +18% | +$2.93M |
|
46
Merck
MRK
$376B
| $17.4M | 0.52% |
219,178
+75,078
| +52% | +$5.97M |
|
47
Goldman Sachs
GS
$303B
| $17.1M | 0.51% |
24,108
-1,430
| -6% | -$829K |
|
|
PVLA
48
Palvella Therapeutics
PVLA
$2.05B
| $16.1M | 0.49% |
714,463
| – | – |
|
49
Pinterest
PINS
$13.3B
| $15.4M | 0.46% |
+430,025
| New | +$13.1M |
|
50
Abeona Therapeutics
ABEO
$348M
| $15.2M | 0.46% |
2,676,000
-1,009,503
| -27% | -$5.75M |
|
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Aaron Cowen's Q2 2025 Portfolio in Review
As of Q2 2025, Aaron Cowen held 112 positions worth $3.32B, up 23% from $2.69B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Aaron Cowen deployed $387M of net new capital in Q2 2025, opening 12 new positions and adding to 30 existing holdings. Its largest new stake was Dick's Sporting Goods: 260,465 shares worth $51.5M.
By sector, the portfolio is most concentrated in Healthcare at 49% of assets, down from 60% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Insmed, an estimated $95.9M trimmed.
- Aaron Cowen's largest Q2 2025 buy was Dick's Sporting Goods: 260,465 shares worth $51.5M.
- Aaron Cowen added most to Coca-Cola in Q2 2025, an estimated $58.2M increase.
- Aaron Cowen's biggest Q2 2025 reduction was Insmed, cutting an estimated $95.9M.
- Aaron Cowen fully exited Intra-Cellular Therapies Inc. in Q2 2025, selling an estimated $92.5M.
- Aaron Cowen's ten largest holdings make up 46% of its $3.32B portfolio in Q2 2025.
- Aaron Cowen opened 12 new positions and closed 14 in Q2 2025.
- Aaron Cowen's portfolio value rose 23% quarter-over-quarter to $3.32B.
Based on Suvretta Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.