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 |
Ultragenyx Pharmaceutical
RARE
|
+$56.1M |
| 2 |
TSMC
TSM
|
+$37M |
| 3 |
Goldman Sachs
GS
|
+$36.8M |
| 4 |
Apollo Global Management
APO
|
+$30.8M |
| 5 |
Ferguson
FERG
|
+$29.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$91M |
| 2 |
Advanced Micro Devices
AMD
|
+$42.8M |
| 3 |
Wynn Resorts
WYNN
|
+$42.5M |
| 4 |
NVIDIA
NVDA
|
+$38.5M |
| 5 |
Amazon
AMZN
|
+$35.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 70.28% |
| 2 | Technology | 8.34% |
| 3 | Consumer Discretionary | 5.97% |
| 4 | Communication Services | 5.67% |
| 5 | Industrials | 4.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Illumina
ILMN
$33.1B
| $1.22M | 0.06% |
8,974
| – | – |
|
77
Waters Corp
WAT
$40.4B
| $1.04M | 0.05% |
3,150
| – | – |
|
78
Intuitive Surgical
ISRG
$134B
| $1.04M | 0.05% |
3,070
| – | – |
|
79
Avantor
AVTR
$9.78B
| $873K | 0.04% |
38,250
| – | – |
|
80
DexCom
DXCM
$34.8B
| $730K | 0.03% |
5,880
| – | – |
|
81
Agilent Technologies
A
$44.9B
| $694K | 0.03% |
4,990
| – | – |
|
82
Benitec Biopharma
BNTC
$463M
| $660K | 0.03% |
204,220
| – | – |
|
83
Idexx Laboratories
IDXX
$43.9B
| $511K | 0.02% |
920
| – | – |
|
84
Veralto
VLTO
$24.1B
| $450K | 0.02% |
+5,475
| New | +$409K |
|
85
Morgan Stanley
MS
$336B
| $448K | 0.02% |
+4,800
| New | +$384K |
|
86
United Therapeutics
UTHR
$22B
| $299K | 0.01% |
1,360
| – | – |
|
87
Charles River Laboratories
CRL
$14.1B
| $239K | 0.01% |
+1,010
| New | +$199K |
|
88
Bio-Techne
TECH
$11.3B
| $201K | 0.01% |
+2,600
| New | +$171K |
|
89
Alvotech
ALVO
$1.5B
| – | – |
-928,402
| Closed | -$8.47M |
|
90
BioNTech
BNTX
$29.3B
| – | – |
-40,970
| Closed | -$4.45M |
|
91
Capital One
COF
$134B
| – | – |
-181,660
| Closed | -$17.6M |
|
92
Eli Lilly
LLY
$1.12T
| – | – |
-39,100
| Closed | -$21M |
|
93
Nurix Therapeutics
NRIX
$2.77B
| – | – |
-280,760
| Closed | -$2.21M |
|
|
94
NVIDIA
NVDA
$5.2T
| – | – |
-885,480
| Closed | -$38.5M |
|
95
Protagonist Therapeutics
PTGX
$9.99B
| – | – |
-108,308
| Closed | -$1.81M |
|
96
RH
RH
$2.9B
| – | – |
-80,989
| Closed | -$21.4M |
|
97
Sarepta Therapeutics
SRPT
$1.98B
| – | – |
-6,058
| Closed | -$734K |
|
98
Wells Fargo
WFC
$254B
| – | – |
-428,506
| Closed | -$17.5M |
|
|
99
Wynn Resorts
WYNN
$10.3B
| – | – |
-460,048
| Closed | -$42.5M |
|
|
OHAAW
100
DELISTED
OPY Acquisition Corp. I Warrant
OHAAW
| – | – |
-72,605
| Closed | -$2.01K |
|
Similar funds
Aaron Cowen's Q4 2023 Portfolio in Review
As of Q4 2023, Aaron Cowen held 101 positions worth $2.21B, up 20% from $1.85B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Aaron Cowen's Q4 2023 filing shows 14 new, 23 increased, 22 reduced and 13 closed positions. Its largest new stake was TSMC: 388,232 shares worth $40.4M. The largest sale was Horizon Therapeutics Public Limited Company Ordinary Shares, an estimated $91M.
By sector, the portfolio is most concentrated in Healthcare at 70% of assets, up from 65% a quarter earlier, followed by Technology and Consumer Discretionary.
- Aaron Cowen's largest Q4 2023 buy was TSMC: 388,232 shares worth $40.4M.
- Aaron Cowen added most to Ultragenyx Pharmaceutical in Q4 2023, an estimated $56.1M increase.
- Aaron Cowen's biggest Q4 2023 reduction was Advanced Micro Devices, cutting an estimated $42.8M.
- Aaron Cowen fully exited Horizon Therapeutics Public Limited Company Ordinary Shares in Q4 2023, selling an estimated $91M.
- Aaron Cowen's ten largest holdings make up 47% of its $2.21B portfolio in Q4 2023.
- Aaron Cowen opened 14 new positions and closed 13 in Q4 2023.
- Aaron Cowen's portfolio value rose 20% quarter-over-quarter to $2.21B.
Based on Suvretta Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.