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AC

Aaron Cowen Suvretta Capital Management

AUM $5.47B
1-Year Est. Return 131.34%
 

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.

This Fund
S&P 500
This Quarter Est. Return
-0.84%
1 Year Est. Return
+131.34%
3 Year Est. Return
+363.85%
5 Year Est. Return
+515.73%
10 Year Est. Return
+2,786.05%
AUM
$2.41B
AUM Growth
-$222M
Cap. Flow
-$88.5M
Cap. Flow %
-3.67%
Top 10 Hldgs %
36.65%
Holding
102
New
13
Increased
22
Reduced
25
Closed
29

Top Buys

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$92.7M
2
META icon
Meta Platforms (Facebook)
META
+$80.8M
3
TTWO icon
Take-Two Interactive
TTWO
+$66.6M
4
DIS icon
Walt Disney
DIS
+$61.6M
5
NOW icon
ServiceNow
NOW
+$57.9M

Top Sells

Rank Stock Value
1
HUM icon
Humana
HUM
+$92.5M
2
CNC icon
Centene
CNC
+$68.3M
3
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$63.9M
4
RPRX icon
Royalty Pharma
RPRX
+$52.8M
5
VTRS icon
Viatris
VTRS
+$40.6M

Sector Composition

Rank Sector Weight
1 Healthcare 45.65%
2 Industrials 13.65%
3 Consumer Discretionary 13.26%
4 Communication Services 10.93%
5 Technology 7.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ALVO icon
51
Alvotech
ALVO
$1.5B
$6.76M 0.28%
1,000,000
– –
VTYX
52
DELISTED
Ventyx Biosciences
VTYX
$6.51M 0.27%
+186,400
New +$4.13M
MREO
53
Mereo BioPharma
MREO
$46.4M
$6.34M 0.26%
7,364,438
-1,777,629
-19% -$2.17M
ORIC icon
54
Oric Pharmaceuticals
ORIC
$1.47B
$6.09M 0.25%
1,902,643
+640,179
+51% +$2.56M
PHVS icon
55
Pharvaris
PHVS
$2.55B
$5.73M 0.24%
746,965
-80,575
-10% -$1.26M
IFRX icon
56
InflaRx
IFRX
$309M
$5.67M 0.24%
2,146,240
-1,138,760
-35% -$2.56M
SLDB icon
57
Solid Biosciences
SLDB
$997M
$4.2M 0.17%
40,000
-297,814
-88% -$3M
ATAI icon
58
AtaiBeckley Inc
ATAI
$2.74B
$4.06M 0.17%
1,225,501
+11,573
+1% +$47.5K
BOLT icon
59
Bolt Biotherapeutics
BOLT
$7.07M
$3.96M 0.16%
133,600
+22,087
+20% +$914K
IRON icon
60
Disc Medicine
IRON
$3.06B
$3.89M 0.16%
79,076
– –
THRD
61
DELISTED
Third Harmonic Bio
THRD
$3.79M 0.16%
+200,000
New +$3.6M
RARE icon
62
Ultragenyx Pharmaceutical
RARE
$2.55B
$3.68M 0.15%
88,940
-259,579
-74% -$13.3M
MOLN
63
Molecular Partners
MOLN
$165M
$2.68M 0.11%
400,000
– –
SYRE icon
64
Spyre Therapeutics
SYRE
$9.39B
$2.14M 0.09%
162,396
– –
NUVL
65
DELISTED
Nuvalent
NUVL
$1.96M 0.08%
+101,003
New +$1.69M
SIOX
66
DELISTED
Sio Gene Therapies Inc. Common Stock
SIOX
$1.66M 0.07%
5,914,000
– –
AMAM
67
DELISTED
Ambrx Biopharma Inc
AMAM
$1.61M 0.07%
1,491,832
– –
OTIC
68
DELISTED
Otonomy, Inc.
OTIC
$928K 0.04%
3,144,196
– –
FLAC
69
DELISTED
Frazier Lifesciences Acquisition Corporation Class A Ordinary Shares
FLAC
$872K 0.04%
87,498
– –
BHVN icon
70
Biohaven
BHVN
$2.09B
$388K 0.02%
+63,049
New +$458K
BNTC icon
71
Benitec Biopharma
BNTC
$463M
$286K 0.01%
45,235
– –
OHAAW
72
DELISTED
OPY Acquisition Corp. I Warrant
OHAAW
$8K ﹤0.01%
72,605
– –
TMPMW
73
DELISTED
Turmeric Acquisition Corp. Warrant
TMPMW
$1K ﹤0.01%
52,775
– –
CNC icon
74
Centene
CNC
$32.1B
– –
-807,438
Closed -$68.3M
COP icon
75
ConocoPhillips
COP
$162B
– –
-110,798
Closed -$9.95M
1 2
3
4 5

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Aaron Cowen's Q3 2022 Portfolio in Review

As of Q3 2022, Aaron Cowen held 102 positions worth $2.41B, down 8.4% from $2.63B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Aaron Cowen withdrew a net $88.5M in Q3 2022, closing 29 positions and reducing 25 holdings. Its most notable exit was Humana, an estimated $92.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 46% of assets, down from 57% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Aaron Cowen opened a new position in Amazon worth $82.9M.

  • Aaron Cowen's largest Q3 2022 buy was Amazon: 733,460 shares worth $82.9M.
  • Aaron Cowen added most to Walt Disney in Q3 2022, an estimated $61.6M increase.
  • Aaron Cowen's biggest Q3 2022 reduction was Royalty Pharma, cutting an estimated $52.8M.
  • Aaron Cowen fully exited Humana in Q3 2022, selling an estimated $92.5M.
  • Aaron Cowen's ten largest holdings make up 37% of its $2.41B portfolio in Q3 2022.
  • Aaron Cowen opened 13 new positions and closed 29 in Q3 2022.
  • Aaron Cowen's portfolio value fell 8.4% quarter-over-quarter to $2.41B.

Based on Suvretta Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.