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 |
MANE
Veradermics Inc
MANE
|
+$210M |
| 2 |
Capricor Therapeutics
CAPR
|
+$54.2M |
| 3 |
Vulcan Materials
VMC
|
+$53.4M |
| 4 |
Crinetics Pharmaceuticals
CRNX
|
+$46.6M |
| 5 |
Performance Food Group
PFGC
|
+$35.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Erasca
ERAS
|
+$131M |
| 2 |
Coca-Cola
KO
|
+$96.7M |
| 3 |
Microsoft
MSFT
|
+$64.7M |
| 4 |
ServiceNow
NOW
|
+$59.7M |
| 5 |
Salesforce
CRM
|
+$53M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 65.36% |
| 2 | Technology | 6.7% |
| 3 | Consumer Discretionary | 5.89% |
| 4 | Financials | 4.13% |
| 5 | Consumer Staples | 3.89% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Lexeo Therapeutics
LXEO
$400M
| $7.17M | 0.18% |
1,250,000
| – | – |
|
52
Coherent
COHR
$56.7B
| $7.15M | 0.18% |
30,000
-107,930
| -78% | -$24.7M |
|
53
InflaRx
IFRX
$309M
| $7.1M | 0.18% |
7,933,910
| – | – |
|
54
Danaher
DHR
$154B
| $6.9M | 0.18% |
36,380
-207,920
| -85% | -$44.3M |
|
55
Abbott
ABT
$202B
| $6.87M | 0.18% |
66,920
+15,900
| +31% | +$1.8M |
|
56
Thermo Fisher Scientific
TMO
$233B
| $6.59M | 0.17% |
13,400
| – | – |
|
57
Medtronic
MDT
$119B
| $6.26M | 0.16% |
72,260
+47,200
| +188% | +$4.52M |
|
58
Johnson & Johnson
JNJ
$651B
| $5.72M | 0.15% |
23,400
-75,386
| -76% | -$17.6M |
|
|
KZR
59
DELISTED
Kezar Life Sciences
KZR
| $5.32M | 0.14% |
716,759
| – | – |
|
60
Intuitive Surgical
ISRG
$134B
| $5.21M | 0.13% |
11,300
+6,100
| +117% | +$3.09M |
|
|
AVR
61
Anteris Technologies
AVR
$875M
| $4.72M | 0.12% |
+850,000
| New | +$4.88M |
|
62
Cencora
COR
$60.7B
| $3.92M | 0.1% |
12,488
| – | – |
|
|
MSLE
63
Satellos Bioscience
MSLE
$212M
| $2.67M | 0.07% |
+475,000
| New | +$4.67M |
|
64
Mettler-Toledo International
MTD
$28B
| $2.48M | 0.06% |
1,964
| – | – |
|
65
Natera
NTRA
$47.9B
| $2.02M | 0.05% |
10,100
| – | – |
|
66
DexCom
DXCM
$34.8B
| $1.99M | 0.05% |
31,680
| – | – |
|
67
Stryker
SYK
$126B
| $1.93M | 0.05% |
5,860
| – | – |
|
68
Tesla
TSLA
$1.43T
| $1.92M | 0.05% |
5,177
-86,075
| -94% | -$35.5M |
|
|
TLN
69
Talen Energy Corp
TLN
$15.1B
| $1.91M | 0.05% |
+5,970
| New | +$2.11M |
|
|
MDLN
70
Medline Inc
MDLN
$30.1B
| $1.89M | 0.05% |
42,500
| – | – |
|
|
71
Microsoft
MSFT
$3.59T
| $1.84M | 0.05% |
4,970
-154,725
| -97% | -$64.7M |
|
72
McKesson
MCK
$100B
| $1.58M | 0.04% |
1,830
| – | – |
|
73
HCA Healthcare
HCA
$92.9B
| $1.51M | 0.04% |
3,190
| – | – |
|
74
Edwards Lifesciences
EW
$51.8B
| $1.5M | 0.04% |
18,700
+7,600
| +68% | +$627K |
|
75
IQVIA
IQV
$42.8B
| $1.22M | 0.03% |
7,175
| – | – |
|
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Aaron Cowen's Q1 2026 Portfolio in Review
As of Q1 2026, Aaron Cowen held 108 positions worth $3.92B, down 20% from $4.88B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Aaron Cowen withdrew a net $852M in Q1 2026, closing 19 positions and reducing 16 holdings. Its most notable exit was Coca-Cola, an estimated $96.7M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 65% of assets, up from 51% a quarter earlier, followed by Technology and Consumer Discretionary.
Against the trend, Aaron Cowen opened a new position in Veradermics Inc worth $263M.
- Aaron Cowen's largest Q1 2026 buy was Veradermics Inc: 4,168,970 shares worth $263M.
- Aaron Cowen added most to Capricor Therapeutics in Q1 2026, an estimated $54.2M increase.
- Aaron Cowen's biggest Q1 2026 reduction was Erasca, cutting an estimated $131M.
- Aaron Cowen fully exited Coca-Cola in Q1 2026, selling an estimated $96.7M.
- Aaron Cowen's ten largest holdings make up 42% of its $3.92B portfolio in Q1 2026.
- Aaron Cowen opened 15 new positions and closed 19 in Q1 2026.
- Aaron Cowen's portfolio value fell 20% quarter-over-quarter to $3.92B.
Based on Suvretta Capital Management's 13F filing for Q1 2026, filed 15 May 2026.