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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
-5.34%
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
$3.27B
AUM Growth
-$1.89B
Cap. Flow
-$1.48B
Cap. Flow %
-45.31%
Top 10 Hldgs %
36.77%
Holding
111
New
16
Increased
19
Reduced
19
Closed
24

Top Buys

Rank Stock Value
1
CNC icon
Centene
CNC
+$98.2M
2
V icon
Visa
V
+$94.7M
3
LVS icon
Las Vegas Sands
LVS
+$94.4M
4
SCHW
Charles Schwab
SCHW
+$86.5M
5
SPGI icon
S&P Global
SPGI
+$84.2M

Top Sells

Rank Stock Value
1
ADBE icon
Adobe
ADBE
+$222M
2
AMZN icon
Amazon
AMZN
+$194M
3
ADI icon
Analog Devices
ADI
+$144M
4
PWR icon
Quanta Services
PWR
+$133M
5
COR icon
Cencora
COR
+$122M

Sector Composition

Rank Sector Weight
1 Healthcare 47.83%
2 Consumer Discretionary 18.58%
3 Financials 10.68%
4 Industrials 10.44%
5 Technology 6.98%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BNTC icon
76
Benitec Biopharma
BNTC
$463M
$1.8M 0.05%
45,235
– –
IMRX icon
77
Immuneering
IMRX
$343M
$1.29M 0.04%
200,000
– –
CANO.WS
78
DELISTED
Cano Health, Inc. Redeemable Warrants, each whole warrant is exercisable for one-one hundredth (1/100th) of a share of Class A Common Stock at an exercise price of $1,150
CANO.WS
$1.06M 0.03%
674,066
-500
-0.1% -$720
TRDA icon
79
Entrada Therapeutics
TRDA
$295M
$995K 0.03%
106,000
– –
EUCR
80
DELISTED
Eucrates Biomedical Acquisition Corp. Ordinary Shares
EUCR
$984K 0.03%
99,999
– –
FLAC
81
DELISTED
Frazier Lifesciences Acquisition Corporation Class A Ordinary Shares
FLAC
$860K 0.03%
87,498
– –
DBTX
82
DELISTED
Decibel Therapeutics, Inc. Common Stock
DBTX
$801K 0.02%
263,600
– –
MGTX icon
83
MeiraGTx Holdings
MGTX
$1.38B
$479K 0.01%
34,600
– –
TMPMW
84
DELISTED
Turmeric Acquisition Corp. Warrant
TMPMW
$22K ﹤0.01%
66,666
– –
EBACW
85
DELISTED
European Biotech Acquisition Corp. Warrant
EBACW
$20K ﹤0.01%
100,000
– –
FLACW
86
DELISTED
Frazier Lifesciences Acquisition Corporation Warrant
FLACW
$7K ﹤0.01%
29,166
– –
EUCRW
87
DELISTED
Eucrates Biomedical Acquisition Corp. Warrant
EUCRW
$6K ﹤0.01%
33,333
– –
ABCL icon
88
CALL
AbCellera Biologics
ABCL
$3.67B
– –
-367,100
Closed -$5.25M
ADBE icon
89
Adobe
ADBE
$109B
– –
-392,207
Closed -$222M
ADI icon
90
Analog Devices
ADI
$182B
– –
-819,310
Closed -$144M
ALIT icon
91
Alight
ALIT
$379M
– –
-390,500
Closed -$84.4M
ALLO icon
92
Allogene Therapeutics
ALLO
$722M
– –
-265,116
Closed -$3.96M
CHRS icon
93
Coherus Oncology
CHRS
$219M
– –
-1,218,792
Closed -$19.5M
CPRT icon
94
Copart
CPRT
$31.3B
– –
-1,220,000
Closed -$46.2M
CVNA icon
95
Carvana
CVNA
$76.9B
– –
-2,139,035
Closed -$99.2M
ETSY icon
96
Etsy
ETSY
$7.44B
– –
-122,158
Closed -$26.7M
GRAB icon
97
Grab
GRAB
$14.2B
– –
-2,000,000
Closed -$14.3M
KBR icon
98
KBR
KBR
$4.86B
– –
-685,500
Closed -$32.6M
MIST icon
99
Milestone Pharmaceuticals
MIST
$131M
– –
-851,291
Closed -$5.58M
MNST icon
100
Monster Beverage
MNST
$93.6B
– –
-4,574,800
Closed -$110M
1 2 3
4
5

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Aaron Cowen's Q1 2022 Portfolio in Review

As of Q1 2022, Aaron Cowen held 111 positions worth $3.27B, down 37% from $5.16B the previous quarter. Its ten largest holdings account for 37% of the portfolio.

Aaron Cowen withdrew a net $1.48B in Q1 2022, closing 24 positions and reducing 19 holdings. Its most notable exit was Adobe, an estimated $222M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 48% of assets, up from 36% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Aaron Cowen opened a new position in Centene worth $101M.

  • Aaron Cowen's largest Q1 2022 buy was Centene: 1,197,206 shares worth $101M.
  • Aaron Cowen added most to Marqeta in Q1 2022, an estimated $30M increase.
  • Aaron Cowen's biggest Q1 2022 reduction was Amazon, cutting an estimated $194M.
  • Aaron Cowen fully exited Adobe in Q1 2022, selling an estimated $222M.
  • Aaron Cowen's ten largest holdings make up 37% of its $3.27B portfolio in Q1 2022.
  • Aaron Cowen opened 16 new positions and closed 24 in Q1 2022.
  • Aaron Cowen's portfolio value fell 37% quarter-over-quarter to $3.27B.

Based on Suvretta Capital Management's 13F filing for Q1 2022, filed 16 May 2022.