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 |
Alphabet (Google) Class C
GOOG
|
+$285M |
| 2 |
O'Reilly Automotive
ORLY
|
+$84.6M |
| 3 |
Marathon Petroleum
MPC
|
+$62.9M |
| 4 |
FMC
FMC
|
+$61.5M |
| 5 |
Alibaba
BABA
|
+$54.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JPMorgan Chase
JPM
|
+$134M |
| 2 |
Corpay
CPAY
|
+$103M |
| 3 |
Charter Communications
CHTR
|
+$100M |
| 4 |
Goldman Sachs
GS
|
+$80.6M |
| 5 |
Morgan Stanley
MS
|
+$80.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 28.81% |
| 2 | Communication Services | 25.99% |
| 3 | Technology | 13.02% |
| 4 | Consumer Staples | 12.03% |
| 5 | Energy | 5.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
51
Morgan Stanley
MS
$336B
| – | – |
-1,900,900
| Closed | -$80.3M |
|
52
PPG Industries
PPG
$25.3B
| – | – |
-529,793
| Closed | -$50.2M |
|
53
Sherwin-Williams
SHW
$84.1B
| – | – |
-735,693
| Closed | -$65.9M |
|
54
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| – | – |
-3,300,000
| Closed | -$738M |
|
55
Synchrony
SYF
$25.9B
| – | – |
-766,779
| Closed | -$27.8M |
|
56
Ulta Beauty
ULTA
$22.4B
| – | – |
-103,862
| Closed | -$26.5M |
|
57
State Street SPDR S&P Biotech ETF
XBI
$11.2B
| – | – |
-1,222,700
| Closed | -$72.4M |
|
|
58
Corpay
CPAY
$27.4B
| – | – |
-727,090
| Closed | -$103M |
|
|
HDS
59
DELISTED
HD Supply Holdings, Inc.
HDS
| – | – |
-1,137,900
| Closed | -$48.4M |
|
|
AET
60
PUT
DELISTED
Aetna Inc
AET
| – | – |
-385,000
| Closed | -$47.7M |
|
|
MBLY
61
DELISTED
Mobileye N.V.
MBLY
| – | – |
-569,849
| Closed | -$21.7M |
|
|
CIT
62
DELISTED
CIT Group Inc.
CIT
| – | – |
-612,900
| Closed | -$26.2M |
|
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Aaron Cowen's Q1 2017 Portfolio in Review
As of Q1 2017, Aaron Cowen held 62 positions worth $3.21B, down 17% from $3.86B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Aaron Cowen withdrew a net $899M in Q1 2017, closing 23 positions and reducing 8 holdings. Its most notable exit was JPMorgan Chase, an estimated $134M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 29% of assets, up from 15% a quarter earlier, followed by Communication Services and Technology.
Against the trend, Aaron Cowen opened a new position in Alphabet (Google) Class C worth $288M.
- Aaron Cowen's largest Q1 2017 buy was Alphabet (Google) Class C: 6,951,800 shares worth $288M.
- Aaron Cowen added most to Marathon Petroleum in Q1 2017, an estimated $62.9M increase.
- Aaron Cowen's biggest Q1 2017 reduction was Charter Communications, cutting an estimated $100M.
- Aaron Cowen fully exited JPMorgan Chase in Q1 2017, selling an estimated $134M.
- Aaron Cowen's ten largest holdings make up 60% of its $3.21B portfolio in Q1 2017.
- Aaron Cowen opened 17 new positions and closed 23 in Q1 2017.
- Aaron Cowen's portfolio value fell 17% quarter-over-quarter to $3.21B.
Based on Suvretta Capital Management's 13F filing for Q1 2017, filed 15 May 2017.