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 |
Union Pacific
UNP
|
+$187M |
| 2 |
Charter Communications
CHTR
|
+$181M |
| 3 |
IQVIA
IQV
|
+$149M |
| 4 |
McKesson
MCK
|
+$143M |
| 5 |
Boston Scientific
BSX
|
+$112M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sony
SONY
|
+$158M |
| 2 |
Tyson Foods
TSN
|
+$143M |
| 3 |
Altria Group
MO
|
+$143M |
| 4 |
Lowe's Companies
LOW
|
+$142M |
| 5 |
Canadian Pacific Kansas City
CP
|
+$133M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.18% |
| 2 | Healthcare | 25.8% |
| 3 | Industrials | 19.73% |
| 4 | Consumer Discretionary | 16.42% |
| 5 | Communication Services | 6.38% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Insmed
INSM
$27.5B
| $1.07M | 0.03% |
+66,600
| New | +$1.58M |
|
52
Iovance Biotherapeutics
IOVA
$3.76B
| $898K | 0.02% |
+30,000
| New | +$795K |
|
|
KALV
53
DELISTED
KalVista Pharmaceuticals
KALV
| $874K | 0.02% |
+114,200
| New | +$1.54M |
|
54
Sutro Biopharma
STRO
$349M
| $826K | 0.02% |
+8,100
| New | +$851K |
|
|
ALBO
55
DELISTED
Albireo Pharma Inc
ALBO
| $802K | 0.02% |
+49,000
| New | +$1.08M |
|
56
Regenxbio
RGNX
$708M
| $674K | 0.02% |
+20,820
| New | +$867K |
|
|
CCXI
57
DELISTED
ChemoCentryx, Inc.
CCXI
| $643K | 0.02% |
+16,000
| New | +$679K |
|
58
CALL
Heron Therapeutics
HRTX
$60.4M
| $622K | 0.02% |
+53,000
| New | +$996K |
|
59
Puma Biotechnology
PBYI
$477M
| $603K | 0.02% |
+71,500
| New | +$695K |
|
|
APLS
60
DELISTED
Apellis Pharmaceuticals
APLS
| $579K | 0.02% |
+21,600
| New | +$767K |
|
61
Immunovant
IMVT
$9.16B
| $562K | 0.02% |
+36,100
| New | +$543K |
|
|
62
Heron Therapeutics
HRTX
$60.4M
| $475K | 0.01% |
+40,500
| New | +$761K |
|
63
argenx
ARGX
$65B
| $437K | 0.01% |
+3,320
| New | +$486K |
|
|
KZR
64
DELISTED
Kezar Life Sciences
KZR
| $392K | 0.01% |
+8,990
| New | +$366K |
|
65
Arvinas
ARVN
$613M
| $228K | 0.01% |
+5,650
| New | +$264K |
|
66
Baxter International
BAX
$13.6B
| – | – |
-1,259,570
| Closed | -$105M |
|
|
67
Canadian Pacific Kansas City
CP
$85B
| – | – |
-2,610,550
| Closed | -$133M |
|
68
DuPont de Nemours
DD
$18.7B
| – | – |
-852,879
| Closed | -$68.7M |
|
69
Elevance Health
ELV
$86.9B
| – | – |
-411,750
| Closed | -$124M |
|
70
Fair Isaac
FICO
$25.3B
| – | – |
-130,170
| Closed | -$48.8M |
|
71
KB Home
KBH
$3.39B
| – | – |
-506,417
| Closed | -$17.4M |
|
|
72
Lowe's Companies
LOW
$121B
| – | – |
-1,188,380
| Closed | -$142M |
|
73
Medtronic
MDT
$119B
| – | – |
-874,650
| Closed | -$99.2M |
|
74
PUT
3M
MMM
$92.3B
| – | – |
-514,280
| Closed | -$75.9M |
|
|
75
Altria Group
MO
$110B
| – | – |
-2,861,740
| Closed | -$143M |
|
Similar funds
Aaron Cowen's Q1 2020 Portfolio in Review
As of Q1 2020, Aaron Cowen held 85 positions worth $3.7B, down 16% from $4.4B the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Aaron Cowen withdrew a net $217M in Q1 2020, closing 20 positions and reducing 13 holdings. Its most notable exit was Sony, an estimated $158M position sold in full.
By sector, the portfolio is most concentrated in Technology at 27% of assets, down from 31% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Aaron Cowen opened a new position in Union Pacific worth $160M.
- Aaron Cowen's largest Q1 2020 buy was Union Pacific: 1,132,610 shares worth $160M.
- Aaron Cowen added most to Boston Scientific in Q1 2020, an estimated $112M increase.
- Aaron Cowen's biggest Q1 2020 reduction was Virgin Galactic, cutting an estimated $80.2M.
- Aaron Cowen fully exited Sony in Q1 2020, selling an estimated $158M.
- Aaron Cowen's ten largest holdings make up 51% of its $3.7B portfolio in Q1 2020.
- Aaron Cowen opened 46 new positions and closed 20 in Q1 2020.
- Aaron Cowen's portfolio value fell 16% quarter-over-quarter to $3.7B.
Based on Suvretta Capital Management's 13F filing for Q1 2020, filed 15 May 2020.