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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
-4.76%
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
$1.85B
AUM Growth
-$19.7M
Cap. Flow
+$132M
Cap. Flow %
7.14%
Top 10 Hldgs %
47.07%
Holding
109
New
9
Increased
32
Reduced
9
Closed
22

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$72.1M
2
CMG icon
Chipotle Mexican Grill
CMG
+$39.8M
3
AMZN icon
Amazon
AMZN
+$39.1M
4
AMD icon
Advanced Micro Devices
AMD
+$35.4M
5
RPRX icon
Royalty Pharma
RPRX
+$31.1M

Top Sells

Rank Stock Value
1
KDNY
Chinook Therapeutics, Inc. Common Stock
KDNY
+$67.2M
2
XYZ
Block Inc
XYZ
+$28.8M
3
TSM icon
TSMC
TSM
+$23.9M
4
ACN icon
Accenture
ACN
+$21.6M
5
CP icon
Canadian Pacific Kansas City
CP
+$20.9M

Sector Composition

Rank Sector Weight
1 Healthcare 65.18%
2 Consumer Discretionary 12.25%
3 Technology 11.13%
4 Communication Services 4.55%
5 Industrials 3.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARQT icon
51
Arcutis Biotherapeutics
ARQT
$3.15B
$6.03M 0.33%
1,135,227
+262,800
+30% +$2.23M
TEVA icon
52
Teva Pharmaceuticals
TEVA
$43.5B
$5.07M 0.27%
+497,400
New +$4.63M
AZN icon
53
AstraZeneca
AZN
$257B
$4.77M 0.26%
35,245
+17,300
+96% +$2.36M
BNTX icon
54
BioNTech
BNTX
$29.3B
$4.45M 0.24%
40,970
– –
DHR icon
55
Danaher
DHR
$154B
$4.08M 0.22%
18,530
– –
TMO icon
56
Thermo Fisher Scientific
TMO
$233B
$3.67M 0.2%
7,260
– –
KVUE icon
57
Kenvue
KVUE
$36.6B
$3.45M 0.19%
+171,596
New +$3.97M
PEPG icon
58
PepGen
PEPG
$217M
$2.47M 0.13%
486,611
– –
NTRA icon
59
Natera
NTRA
$47.9B
$2.3M 0.12%
51,900
– –
COR icon
60
Cencora
COR
$60.7B
$2.25M 0.12%
12,488
– –
NRIX icon
61
Nurix Therapeutics
NRIX
$2.77B
$2.21M 0.12%
280,760
– –
INCY icon
62
Incyte
INCY
$25.9B
$2.17M 0.12%
37,600
– –
AKLI
63
DELISTED
Akili Inc
AKLI
$2.11M 0.11%
3,841,718
– –
ABT icon
64
Abbott
ABT
$202B
$2M 0.11%
20,620
– –
SYRE icon
65
Spyre Therapeutics
SYRE
$9.39B
$1.99M 0.11%
162,395
-1
-0% -$13
PTGX icon
66
Protagonist Therapeutics
PTGX
$9.99B
$1.81M 0.1%
108,308
+27,165
+33% +$527K
GILD icon
67
Gilead Sciences
GILD
$181B
$1.7M 0.09%
22,700
– –
MOLN
68
Molecular Partners
MOLN
$165M
$1.66M 0.09%
400,000
– –
LKFT
69
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.89B
$1.63M 0.09%
47,200
– –
IQV icon
70
IQVIA
IQV
$42.8B
$1.41M 0.08%
7,175
– –
ARGX icon
71
argenx
ARGX
$65B
$1.38M 0.07%
2,800
-590
-17% -$289K
MDT icon
72
Medtronic
MDT
$119B
$1.37M 0.07%
17,460
– –
ELV icon
73
Elevance Health
ELV
$86.9B
$1.31M 0.07%
3,010
– –
CVS icon
74
CVS Health
CVS
$119B
$1.2M 0.06%
17,170
– –
ILMN icon
75
Illumina
ILMN
$33.1B
$1.2M 0.06%
8,974
– –
1 2
3
4 5

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Aaron Cowen's Q3 2023 Portfolio in Review

As of Q3 2023, Aaron Cowen held 109 positions worth $1.85B, down 1.1% from $1.87B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Aaron Cowen deployed $132M of net new capital in Q3 2023, opening 9 new positions and adding to 32 existing holdings. Its largest new stake was Microsoft: 218,170 shares worth $68.9M.

By sector, the portfolio is most concentrated in Healthcare at 65% of assets, up from 64% a quarter earlier, followed by Consumer Discretionary and Technology.

On the sell side, the largest reduction was Oracle, an estimated $7.31M trimmed.

  • Aaron Cowen's largest Q3 2023 buy was Microsoft: 218,170 shares worth $68.9M.
  • Aaron Cowen added most to Amazon in Q3 2023, an estimated $39.1M increase.
  • Aaron Cowen's biggest Q3 2023 reduction was Oracle, cutting an estimated $7.31M.
  • Aaron Cowen fully exited Chinook Therapeutics, Inc. Common Stock in Q3 2023, selling an estimated $67.2M.
  • Aaron Cowen's ten largest holdings make up 47% of its $1.85B portfolio in Q3 2023.
  • Aaron Cowen opened 9 new positions and closed 22 in Q3 2023.
  • Aaron Cowen's portfolio value fell 1.1% quarter-over-quarter to $1.85B.

Based on Suvretta Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.