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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
+31.33%
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
$2.21B
AUM Growth
+$361M
Cap. Flow
-$44.8M
Cap. Flow %
-2.03%
Top 10 Hldgs %
47.06%
Holding
101
New
14
Increased
23
Reduced
22
Closed
13

Top Buys

Rank Stock Value
1
RARE icon
Ultragenyx Pharmaceutical
RARE
+$56.1M
2
TSM icon
TSMC
TSM
+$37M
3
GS icon
Goldman Sachs
GS
+$36.8M
4
APO icon
Apollo Global Management
APO
+$30.8M
5
FERG icon
Ferguson
FERG
+$29.7M

Top Sells

Rank Stock Value
1
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$91M
2
AMD icon
Advanced Micro Devices
AMD
+$42.8M
3
WYNN icon
Wynn Resorts
WYNN
+$42.5M
4
NVDA icon
NVIDIA
NVDA
+$38.5M
5
AMZN icon
Amazon
AMZN
+$35.2M

Sector Composition

Rank Sector Weight
1 Healthcare 70.28%
2 Technology 8.34%
3 Consumer Discretionary 5.97%
4 Communication Services 5.67%
5 Industrials 4.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UNH icon
51
UnitedHealth
UNH
$350B
$6.75M 0.31%
12,823
-14,400
-53% -$7.68M
SANA icon
52
Sana Biotechnology
SANA
$1.17B
$6.55M 0.3%
1,606,056
-1,357,648
-46% -$5M
TEVA icon
53
Teva Pharmaceuticals
TEVA
$43.5B
$5.19M 0.23%
497,400
– –
AZN icon
54
AstraZeneca
AZN
$257B
$4.75M 0.21%
35,245
– –
TMO icon
55
Thermo Fisher Scientific
TMO
$233B
$3.85M 0.17%
7,260
– –
DHR icon
56
Danaher
DHR
$154B
$3.8M 0.17%
16,427
-2,103
-11% -$448K
KVUE icon
57
Kenvue
KVUE
$36.6B
$3.69M 0.17%
171,596
– –
ABT icon
58
Abbott
ABT
$202B
$3.69M 0.17%
33,520
+12,900
+63% +$1.29M
KRRO icon
59
Korro Bio
KRRO
$194M
$3.54M 0.16%
+73,821
New +$2.43M
SYRE icon
60
Spyre Therapeutics
SYRE
$9.39B
$3.49M 0.16%
162,395
– –
PEPG icon
61
PepGen
PEPG
$217M
$3.31M 0.15%
486,611
– –
COR icon
62
Cencora
COR
$60.7B
$2.56M 0.12%
12,488
– –
INCY icon
63
Incyte
INCY
$25.9B
$2.36M 0.11%
37,600
– –
LKFT
64
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.89B
$1.92M 0.09%
47,200
– –
ALNY icon
65
Alnylam Pharmaceuticals
ALNY
$31.6B
$1.89M 0.09%
+9,860
New +$1.68M
AKLI
66
DELISTED
Akili Inc
AKLI
$1.87M 0.08%
3,841,718
– –
GILD icon
67
Gilead Sciences
GILD
$181B
$1.84M 0.08%
22,700
– –
MRK icon
68
Merck
MRK
$376B
$1.69M 0.08%
+15,500
New +$1.61M
MOLN
69
Molecular Partners
MOLN
$165M
$1.67M 0.08%
400,000
– –
IQV icon
70
IQVIA
IQV
$42.8B
$1.66M 0.08%
7,175
– –
NTRA icon
71
Natera
NTRA
$47.9B
$1.54M 0.07%
24,600
-27,300
-53% -$1.36M
PFE icon
72
Pfizer
PFE
$160B
$1.45M 0.07%
+50,300
New +$1.52M
MDT icon
73
Medtronic
MDT
$119B
$1.44M 0.07%
17,460
– –
CVS icon
74
CVS Health
CVS
$119B
$1.36M 0.06%
17,170
– –
SYK icon
75
Stryker
SYK
$126B
$1.31M 0.06%
4,360
– –
1 2
3
4 5

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Aaron Cowen's Q4 2023 Portfolio in Review

As of Q4 2023, Aaron Cowen held 101 positions worth $2.21B, up 20% from $1.85B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Aaron Cowen's Q4 2023 filing shows 14 new, 23 increased, 22 reduced and 13 closed positions. Its largest new stake was TSMC: 388,232 shares worth $40.4M. The largest sale was Horizon Therapeutics Public Limited Company Ordinary Shares, an estimated $91M.

By sector, the portfolio is most concentrated in Healthcare at 70% of assets, up from 65% a quarter earlier, followed by Technology and Consumer Discretionary.

  • Aaron Cowen's largest Q4 2023 buy was TSMC: 388,232 shares worth $40.4M.
  • Aaron Cowen added most to Ultragenyx Pharmaceutical in Q4 2023, an estimated $56.1M increase.
  • Aaron Cowen's biggest Q4 2023 reduction was Advanced Micro Devices, cutting an estimated $42.8M.
  • Aaron Cowen fully exited Horizon Therapeutics Public Limited Company Ordinary Shares in Q4 2023, selling an estimated $91M.
  • Aaron Cowen's ten largest holdings make up 47% of its $2.21B portfolio in Q4 2023.
  • Aaron Cowen opened 14 new positions and closed 13 in Q4 2023.
  • Aaron Cowen's portfolio value rose 20% quarter-over-quarter to $2.21B.

Based on Suvretta Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.