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 |
UnitedHealth
UNH
|
+$71.7M |
| 2 |
Biohaven
BHVN
|
+$47.3M |
| 3 |
ITCI
Intra-Cellular Therapies Inc.
ITCI
|
+$42.1M |
| 4 |
Sysco
SYY
|
+$38.9M |
| 5 |
Apple
AAPL
|
+$34.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
argenx
ARGX
|
+$48M |
| 2 |
Cigna
CI
|
+$45.6M |
| 3 |
McKesson
MCK
|
+$30.5M |
| 4 |
Verizon
VZ
|
+$23M |
| 5 |
BCYC
Bicycle Therapeutics
BCYC
|
+$22.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 59.12% |
| 2 | Technology | 10.09% |
| 3 | Communication Services | 6.22% |
| 4 | Consumer Discretionary | 5.49% |
| 5 | Financials | 2.85% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Natera
NTRA
$47.9B
| $1.09M | 0.04% |
10,100
-14,500
| -59% | -$1.47M |
|
|
77
McKesson
MCK
$100B
| $1.07M | 0.04% |
1,830
-54,809
| -97% | -$30.5M |
|
78
Protagonist Therapeutics
PTGX
$9.99B
| $1.06M | 0.04% |
30,500
| – | – |
|
79
Edwards Lifesciences
EW
$51.8B
| $1.03M | 0.04% |
11,100
| – | – |
|
80
HCA Healthcare
HCA
$92.9B
| $1.02M | 0.04% |
3,190
| – | – |
|
81
CVS Health
CVS
$119B
| $1.01M | 0.04% |
17,170
| – | – |
|
82
Waters Corp
WAT
$40.4B
| $914K | 0.03% |
3,150
| – | – |
|
83
Illumina
ILMN
$33.1B
| $911K | 0.03% |
8,730
-244
| -3% | -$27.4K |
|
84
Five Below
FIVE
$13.8B
| $833K | 0.03% |
+7,645
| New | +$1.06M |
|
85
Humana
HUM
$45.5B
| $729K | 0.03% |
1,950
| – | – |
|
86
DexCom
DXCM
$34.8B
| $667K | 0.02% |
5,880
| – | – |
|
87
Agilent Technologies
A
$44.9B
| $647K | 0.02% |
4,990
| – | – |
|
88
Veralto
VLTO
$24.1B
| $523K | 0.02% |
5,475
| – | – |
|
89
Ionis Pharmaceuticals
IONS
$9.93B
| $515K | 0.02% |
10,800
| – | – |
|
90
ResMed
RMD
$33.4B
| $457K | 0.02% |
2,390
| – | – |
|
91
Morgan Stanley
MS
$336B
| $448K | 0.02% |
4,611
-3,030
| -40% | -$288K |
|
92
Zimmer Biomet
ZBH
$19.3B
| $354K | 0.01% |
3,260
| – | – |
|
93
Steris
STE
$23.2B
| $336K | 0.01% |
1,530
| – | – |
|
|
MREO
94
Mereo BioPharma
MREO
$46.4M
| $270K | 0.01% |
75,000
-3,578,494
| -98% | -$11.6M |
|
95
Baxter International
BAX
$13.6B
| $267K | 0.01% |
7,970
| – | – |
|
96
Align Technology
ALGN
$11.5B
| $266K | 0.01% |
1,100
| – | – |
|
97
Charles River Laboratories
CRL
$14.1B
| $209K | 0.01% |
1,010
| – | – |
|
|
RVNC
98
DELISTED
Revance Therapeutics, Inc.
RVNC
| $150K | 0.01% |
58,425
-1,541,575
| -96% | -$5.26M |
|
|
99
argenx
ARGX
$65B
| – | – |
-121,900
| Closed | -$48M |
|
|
BCYC
100
Bicycle Therapeutics
BCYC
$306M
| – | – |
-914,476
| Closed | -$22.8M |
|
Similar funds
Aaron Cowen's Q2 2024 Portfolio in Review
As of Q2 2024, Aaron Cowen held 110 positions worth $2.72B, up 1.1% from $2.69B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Aaron Cowen deployed $160M of net new capital in Q2 2024, opening 9 new positions and adding to 24 existing holdings. Its largest new stake was Sysco: 520,900 shares worth $37.2M.
By sector, the portfolio is most concentrated in Healthcare at 59% of assets, down from 60% a quarter earlier, followed by Technology and Communication Services.
On the sell side, the largest reduction was Cigna, an estimated $45.6M trimmed.
- Aaron Cowen's largest Q2 2024 buy was Sysco: 520,900 shares worth $37.2M.
- Aaron Cowen added most to UnitedHealth in Q2 2024, an estimated $71.7M increase.
- Aaron Cowen's biggest Q2 2024 reduction was Cigna, cutting an estimated $45.6M.
- Aaron Cowen fully exited argenx in Q2 2024, selling an estimated $48M.
- Aaron Cowen's ten largest holdings make up 48% of its $2.72B portfolio in Q2 2024.
- Aaron Cowen opened 9 new positions and closed 12 in Q2 2024.
- Aaron Cowen's portfolio value rose 1.1% quarter-over-quarter to $2.72B.
Based on Suvretta Capital Management's 13F filing for Q2 2024, filed 14 Aug 2024.