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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
-11.48%
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
$2.63B
AUM Growth
-$644M
Cap. Flow
-$229M
Cap. Flow %
-8.7%
Top 10 Hldgs %
36.43%
Holding
110
New
23
Increased
22
Reduced
18
Closed
21

Top Buys

Rank Stock Value
1
XYZ
Block Inc
XYZ
+$62.1M
2
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$46.1M
3
CP icon
Canadian Pacific Kansas City
CP
+$45.9M
4
FIS icon
Fidelity National Information Services
FIS
+$44M
5
RPRX icon
Royalty Pharma
RPRX
+$43.2M

Top Sells

Rank Stock Value
1
AMZN icon
Amazon
AMZN
+$147M
2
MSFT icon
Microsoft
MSFT
+$93.8M
3
SPGI icon
S&P Global
SPGI
+$84.8M
4
SCHW
Charles Schwab
SCHW
+$82.9M
5
JNJ icon
Johnson & Johnson
JNJ
+$73.6M

Sector Composition

Rank Sector Weight
1 Healthcare 56.98%
2 Industrials 11.58%
3 Consumer Discretionary 10.43%
4 Technology 7.11%
5 Financials 5.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MOLN
76
Molecular Partners
MOLN
$165M
$2.71M 0.1%
400,000
– –
SIOX
77
DELISTED
Sio Gene Therapies Inc. Common Stock
SIOX
$2.13M 0.08%
5,914,000
– –
SYRE icon
78
Spyre Therapeutics
SYRE
$9.39B
$2.05M 0.08%
162,396
– –
TMPM
79
DELISTED
Turmeric Acquisition Corp. Class A Ordinary Shares
TMPM
$1.99M 0.08%
200,000
– –
BLSA
80
DELISTED
BCLS Acquisition Corp. Class A Ordinary Shares
BLSA
$1.98M 0.08%
200,000
– –
OHAA
81
DELISTED
OPY Acquisition Corp. I Class A Common Stock
OHAA
$1.97M 0.07%
+200,000
New +$1.97M
TRDA icon
82
Entrada Therapeutics
TRDA
$295M
$1.29M 0.05%
106,000
– –
IMRX icon
83
Immuneering
IMRX
$343M
$1.08M 0.04%
200,000
– –
EUCR
84
DELISTED
Eucrates Biomedical Acquisition Corp. Ordinary Shares
EUCR
$990K 0.04%
99,999
– –
BNTC icon
85
Benitec Biopharma
BNTC
$463M
$892K 0.03%
45,235
– –
FLAC
86
DELISTED
Frazier Lifesciences Acquisition Corporation Class A Ordinary Shares
FLAC
$864K 0.03%
87,498
– –
CANO.WS
87
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
$257K 0.01%
378,569
-295,497
-44% -$306K
OHAAW
88
DELISTED
OPY Acquisition Corp. I Warrant
OHAAW
$18K ﹤0.01%
+72,605
New +$23.5K
TMPMW
89
DELISTED
Turmeric Acquisition Corp. Warrant
TMPMW
$4K ﹤0.01%
52,775
-13,891
-21% -$2.4K
AMZN icon
90
Amazon
AMZN
$2.79T
– –
-902,440
Closed -$147M
AUPH icon
91
Aurinia Pharmaceuticals
AUPH
$2.22B
– –
-344,755
Closed -$4.27M
BBWI icon
92
Bath & Body Works
BBWI
$3.92B
– –
-1,038,630
Closed -$49.6M
DECK icon
93
Deckers Outdoor
DECK
$12.5B
– –
-854,862
Closed -$39M
INZY
94
DELISTED
Inozyme Pharma
INZY
– –
-1,013,216
Closed -$4.14M
IOVA icon
95
Iovance Biotherapeutics
IOVA
$3.76B
– –
-406,200
Closed -$6.76M
JNJ icon
96
Johnson & Johnson
JNJ
$651B
– –
-415,310
Closed -$73.6M
MGTX icon
97
MeiraGTx Holdings
MGTX
$1.38B
– –
-34,600
Closed -$479K
NTRA icon
98
Natera
NTRA
$47.9B
– –
-584,660
Closed -$23.8M
SCHW
99
Charles Schwab
SCHW
$194B
– –
-982,790
Closed -$82.9M
SPGI icon
100
S&P Global
SPGI
$127B
– –
-206,760
Closed -$84.8M
1 2 3
4
5

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Aaron Cowen's Q2 2022 Portfolio in Review

As of Q2 2022, Aaron Cowen held 110 positions worth $2.63B, down 20% from $3.27B the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Aaron Cowen withdrew a net $229M in Q2 2022, closing 21 positions and reducing 18 holdings. Its most notable exit was Amazon, an estimated $147M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 57% of assets, up from 48% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Aaron Cowen opened a new position in Block Inc worth $41.8M.

  • Aaron Cowen's largest Q2 2022 buy was Block Inc: 679,676 shares worth $41.8M.
  • Aaron Cowen added most to Royalty Pharma in Q2 2022, an estimated $43.2M increase.
  • Aaron Cowen's biggest Q2 2022 reduction was Microsoft, cutting an estimated $93.8M.
  • Aaron Cowen fully exited Amazon in Q2 2022, selling an estimated $147M.
  • Aaron Cowen's ten largest holdings make up 36% of its $2.63B portfolio in Q2 2022.
  • Aaron Cowen opened 23 new positions and closed 21 in Q2 2022.
  • Aaron Cowen's portfolio value fell 20% quarter-over-quarter to $2.63B.

Based on Suvretta Capital Management's 13F filing for Q2 2022, filed 15 Aug 2022.