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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
-4.76%
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
$1.85B
AUM Growth
-$19.7M
Cap. Flow
+$132M
Cap. Flow %
7.14%
Top 10 Hldgs %
47.07%
Holding
109
New
9
Increased
32
Reduced
9
Closed
22

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$72.1M
2
CMG icon
Chipotle Mexican Grill
CMG
+$39.8M
3
AMZN icon
Amazon
AMZN
+$39.1M
4
AMD icon
Advanced Micro Devices
AMD
+$35.4M
5
RPRX icon
Royalty Pharma
RPRX
+$31.1M

Top Sells

Rank Stock Value
1
KDNY
Chinook Therapeutics, Inc. Common Stock
KDNY
+$67.2M
2
XYZ
Block Inc
XYZ
+$28.8M
3
TSM icon
TSMC
TSM
+$23.9M
4
ACN icon
Accenture
ACN
+$21.6M
5
CP icon
Canadian Pacific Kansas City
CP
+$20.9M

Sector Composition

Rank Sector Weight
1 Healthcare 65.18%
2 Consumer Discretionary 12.25%
3 Technology 11.13%
4 Communication Services 4.55%
5 Industrials 3.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SYK icon
76
Stryker
SYK
$126B
$1.19M 0.06%
4,360
– –
CI icon
77
Cigna
CI
$73.3B
$1.14M 0.06%
4,000
– –
ISRG icon
78
Intuitive Surgical
ISRG
$134B
$897K 0.05%
3,070
– –
WAT icon
79
Waters Corp
WAT
$40.4B
$864K 0.05%
3,150
– –
AVTR icon
80
Avantor
AVTR
$9.78B
$806K 0.04%
38,250
– –
SRPT icon
81
Sarepta Therapeutics
SRPT
$1.98B
$734K 0.04%
6,058
– –
BNTC icon
82
Benitec Biopharma
BNTC
$463M
$617K 0.03%
204,220
+158,985
+351% +$494K
A icon
83
Agilent Technologies
A
$44.9B
$558K 0.03%
4,990
– –
DXCM icon
84
DexCom
DXCM
$34.8B
$549K 0.03%
5,880
– –
IDXX icon
85
Idexx Laboratories
IDXX
$43.9B
$402K 0.02%
920
– –
UTHR icon
86
United Therapeutics
UTHR
$22B
$307K 0.02%
1,360
– –
OHAAW
87
DELISTED
OPY Acquisition Corp. I Warrant
OHAAW
$2.01K ﹤0.01%
72,605
– –
ACN icon
88
Accenture
ACN
$113B
– –
-70,103
Closed -$21.6M
CEG icon
89
Constellation Energy
CEG
$96.7B
– –
-82,592
Closed -$7.56M
CELH icon
90
Celsius Holdings
CELH
$8.44B
– –
-288,645
Closed -$14.4M
CP icon
91
Canadian Pacific Kansas City
CP
$85B
– –
-259,073
Closed -$20.9M
CRL icon
92
Charles River Laboratories
CRL
$14.1B
– –
-1,010
Closed -$212K
DFS
93
DELISTED
Discover Financial Services
DFS
– –
-161,056
Closed -$18.8M
EVR icon
94
Evercore
EVR
$11.2B
– –
-71,051
Closed -$8.78M
EW icon
95
Edwards Lifesciences
EW
$51.8B
– –
-2,300
Closed -$217K
GFL icon
96
GFL Environmental
GFL
$14.8B
– –
-99,375
Closed -$3.86M
GS icon
97
Goldman Sachs
GS
$303B
– –
-63,091
Closed -$20.3M
MRVL icon
98
Marvell Technology
MRVL
$213B
– –
-226,873
Closed -$13.6M
MTD icon
99
Mettler-Toledo International
MTD
$28B
– –
-164
Closed -$215K
ORIC icon
100
Oric Pharmaceuticals
ORIC
$1.47B
– –
-492,924
Closed -$3.83M
1 2 3
4
5

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Aaron Cowen's Q3 2023 Portfolio in Review

As of Q3 2023, Aaron Cowen held 109 positions worth $1.85B, down 1.1% from $1.87B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Aaron Cowen deployed $132M of net new capital in Q3 2023, opening 9 new positions and adding to 32 existing holdings. Its largest new stake was Microsoft: 218,170 shares worth $68.9M.

By sector, the portfolio is most concentrated in Healthcare at 65% of assets, up from 64% a quarter earlier, followed by Consumer Discretionary and Technology.

On the sell side, the largest reduction was Oracle, an estimated $7.31M trimmed.

  • Aaron Cowen's largest Q3 2023 buy was Microsoft: 218,170 shares worth $68.9M.
  • Aaron Cowen added most to Amazon in Q3 2023, an estimated $39.1M increase.
  • Aaron Cowen's biggest Q3 2023 reduction was Oracle, cutting an estimated $7.31M.
  • Aaron Cowen fully exited Chinook Therapeutics, Inc. Common Stock in Q3 2023, selling an estimated $67.2M.
  • Aaron Cowen's ten largest holdings make up 47% of its $1.85B portfolio in Q3 2023.
  • Aaron Cowen opened 9 new positions and closed 22 in Q3 2023.
  • Aaron Cowen's portfolio value fell 1.1% quarter-over-quarter to $1.85B.

Based on Suvretta Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.