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 |
Coca-Cola
KO
|
+$32.8M |
| 2 |
Apple
AAPL
|
+$32.1M |
| 3 |
ArriVent BioPharma
AVBP
|
+$31.5M |
| 4 |
argenx
ARGX
|
+$26.4M |
| 5 |
CRH
CRH
|
+$25.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ACLX
Arcellx
ACLX
|
+$55.4M |
| 2 |
Royalty Pharma
RPRX
|
+$48.3M |
| 3 |
Las Vegas Sands
LVS
|
+$36.3M |
| 4 |
Microsoft
MSFT
|
+$33.4M |
| 5 |
TERN
Terns Pharmaceuticals
TERN
|
+$29.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 59.68% |
| 2 | Technology | 7.85% |
| 3 | Communication Services | 7.05% |
| 4 | Consumer Discretionary | 4.46% |
| 5 | Financials | 3.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Immatics
IMTX
$1.22B
| $9.95M | 0.37% |
+946,563
| New | +$11M |
|
|
TERN
52
DELISTED
Terns Pharmaceuticals
TERN
| $8.95M | 0.33% |
1,363,675
-4,473,451
| -77% | -$29.2M |
|
53
InflaRx
IFRX
$309M
| $8.83M | 0.33% |
5,733,910
| – | – |
|
54
Elanco Animal Health
ELAN
$12B
| $8.26M | 0.31% |
507,200
-107,100
| -17% | -$1.67M |
|
|
RVNC
55
DELISTED
Revance Therapeutics, Inc.
RVNC
| $7.87M | 0.29% |
+1,600,000
| New | +$9.47M |
|
56
UnitedHealth
UNH
$350B
| $7.48M | 0.28% |
15,123
+2,300
| +18% | +$1.17M |
|
57
Zura Bio
ZURA
$561M
| $7.32M | 0.27% |
2,850,000
| – | – |
|
58
GE HealthCare
GEHC
$33.8B
| $6.82M | 0.25% |
+75,000
| New | +$6.24M |
|
59
Korro Bio
KRRO
$194M
| $6.64M | 0.25% |
73,821
| – | – |
|
|
KZR
60
DELISTED
Kezar Life Sciences
KZR
| $6.46M | 0.24% |
716,759
| – | – |
|
61
ProKidney
PROK
$336M
| $6.34M | 0.24% |
3,867,847
| – | – |
|
62
Spyre Therapeutics
SYRE
$9.39B
| $6.16M | 0.23% |
162,395
| – | – |
|
63
Alnylam Pharmaceuticals
ALNY
$31.6B
| $4.88M | 0.18% |
32,660
+22,800
| +231% | +$3.8M |
|
64
Thermo Fisher Scientific
TMO
$233B
| $4.22M | 0.16% |
7,260
| – | – |
|
65
Danaher
DHR
$154B
| $4.1M | 0.15% |
16,427
| – | – |
|
66
Abbott
ABT
$202B
| $3.81M | 0.14% |
33,520
| – | – |
|
67
Teva Pharmaceuticals
TEVA
$43.5B
| $3.78M | 0.14% |
268,100
-229,300
| -46% | -$2.89M |
|
68
Gilead Sciences
GILD
$181B
| $3.71M | 0.14% |
50,700
+28,000
| +123% | +$2.15M |
|
69
Kenvue
KVUE
$36.6B
| $3.68M | 0.14% |
171,596
| – | – |
|
70
Cencora
COR
$60.7B
| $3.03M | 0.11% |
12,488
| – | – |
|
|
TRML
71
DELISTED
Tourmaline Bio
TRML
| $2.86M | 0.11% |
+125,000
| New | +$4.41M |
|
72
Mettler-Toledo International
MTD
$28B
| $2.61M | 0.1% |
+1,964
| New | +$2.42M |
|
73
Natera
NTRA
$47.9B
| $2.25M | 0.08% |
24,600
| – | – |
|
74
Cogent Biosciences
COGT
$6.37B
| $2.12M | 0.08% |
316,000
-3,394,539
| -91% | -$21M |
|
75
Intuitive Surgical
ISRG
$134B
| $2.08M | 0.08% |
5,200
+2,130
| +69% | +$805K |
|
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Aaron Cowen's Q1 2024 Portfolio in Review
As of Q1 2024, Aaron Cowen held 113 positions worth $2.69B, up 22% from $2.21B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Aaron Cowen deployed $129M of net new capital in Q1 2024, opening 25 new positions and adding to 16 existing holdings. Its largest new stake was Coca-Cola: 546,500 shares worth $33.4M.
By sector, the portfolio is most concentrated in Healthcare at 60% of assets, down from 70% a quarter earlier, followed by Technology and Communication Services.
On the sell side, the largest reduction was Arcellx, an estimated $55.4M trimmed.
- Aaron Cowen's largest Q1 2024 buy was Coca-Cola: 546,500 shares worth $33.4M.
- Aaron Cowen added most to argenx in Q1 2024, an estimated $26.4M increase.
- Aaron Cowen's biggest Q1 2024 reduction was Arcellx, cutting an estimated $55.4M.
- Aaron Cowen fully exited Las Vegas Sands in Q1 2024, selling an estimated $36.3M.
- Aaron Cowen's ten largest holdings make up 44% of its $2.69B portfolio in Q1 2024.
- Aaron Cowen opened 25 new positions and closed 12 in Q1 2024.
- Aaron Cowen's portfolio value rose 22% quarter-over-quarter to $2.69B.
Based on Suvretta Capital Management's 13F filing for Q1 2024, filed 15 May 2024.