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 |
Benitec Biopharma
BNTC
|
+$63.9M |
| 2 |
Starbucks
SBUX
|
+$47.2M |
| 3 |
CrowdStrike
CRWD
|
+$34.7M |
| 4 |
Capital One
COF
|
+$33.5M |
| 5 |
BIOA
BioAge Labs
BIOA
|
+$29.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Insmed
INSM
|
+$65.4M |
| 2 |
ACLX
Arcellx
ACLX
|
+$55M |
| 3 |
Elevance Health
ELV
|
+$49.5M |
| 4 |
Ultragenyx Pharmaceutical
RARE
|
+$46.4M |
| 5 |
Sysco
SYY
|
+$37.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 53.33% |
| 2 | Technology | 9.98% |
| 3 | Consumer Discretionary | 7.64% |
| 4 | Communication Services | 6.42% |
| 5 | Financials | 4.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Avantor
AVTR
$9.78B
| $1.86M | 0.06% |
71,850
| – | – |
|
77
IQVIA
IQV
$42.8B
| $1.7M | 0.05% |
7,175
| – | – |
|
78
Stryker
SYK
$126B
| $1.58M | 0.05% |
4,360
| – | – |
|
79
Medtronic
MDT
$119B
| $1.57M | 0.05% |
17,460
| – | – |
|
|
LKFT
80
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.89B
| $1.36M | 0.04% |
47,200
| – | – |
|
81
HCA Healthcare
HCA
$92.9B
| $1.3M | 0.04% |
3,190
| – | – |
|
82
Natera
NTRA
$47.9B
| $1.28M | 0.04% |
10,100
| – | – |
|
83
Illumina
ILMN
$33.1B
| $1.14M | 0.04% |
8,730
| – | – |
|
84
Waters Corp
WAT
$40.4B
| $1.13M | 0.04% |
3,150
| – | – |
|
|
CNTA
85
DELISTED
Centessa Pharmaceuticals
CNTA
| $1.12M | 0.04% |
+70,000
| New | +$858K |
|
86
CVS Health
CVS
$119B
| $1.08M | 0.03% |
17,170
| – | – |
|
87
McKesson
MCK
$100B
| $905K | 0.03% |
1,830
| – | – |
|
88
PACS Group
PACS
$7.01B
| $799K | 0.03% |
+20,000
| New | +$727K |
|
89
Agilent Technologies
A
$44.9B
| $741K | 0.02% |
4,990
| – | – |
|
90
Edwards Lifesciences
EW
$51.8B
| $732K | 0.02% |
11,100
| – | – |
|
91
Veralto
VLTO
$24.1B
| $612K | 0.02% |
5,475
| – | – |
|
92
ResMed
RMD
$33.4B
| $583K | 0.02% |
2,390
| – | – |
|
93
Ionis Pharmaceuticals
IONS
$9.93B
| $433K | 0.01% |
10,800
| – | – |
|
94
Steris
STE
$23.2B
| $371K | 0.01% |
1,530
| – | – |
|
95
Zimmer Biomet
ZBH
$19.3B
| $352K | 0.01% |
3,260
| – | – |
|
96
Baxter International
BAX
$13.6B
| $303K | 0.01% |
7,970
| – | – |
|
97
Align Technology
ALGN
$11.5B
| $280K | 0.01% |
1,100
| – | – |
|
98
Bio-Techne
TECH
$11.3B
| $208K | 0.01% |
+2,600
| New | +$195K |
|
99
Cigna
CI
$73.3B
| – | – |
-4,800
| Closed | -$1.59M |
|
100
Chipotle Mexican Grill
CMG
$46.7B
| – | – |
-398,500
| Closed | -$25M |
|
Similar funds
Aaron Cowen's Q3 2024 Portfolio in Review
As of Q3 2024, Aaron Cowen held 113 positions worth $3.13B, up 15% from $2.72B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Aaron Cowen deployed $107M of net new capital in Q3 2024, opening 15 new positions and adding to 22 existing holdings. Its largest new stake was Starbucks: 550,309 shares worth $53.6M.
By sector, the portfolio is most concentrated in Healthcare at 53% of assets, down from 59% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Insmed, an estimated $65.4M trimmed.
- Aaron Cowen's largest Q3 2024 buy was Starbucks: 550,309 shares worth $53.6M.
- Aaron Cowen added most to Benitec Biopharma in Q3 2024, an estimated $63.9M increase.
- Aaron Cowen's biggest Q3 2024 reduction was Insmed, cutting an estimated $65.4M.
- Aaron Cowen fully exited Elevance Health in Q3 2024, selling an estimated $49.5M.
- Aaron Cowen's ten largest holdings make up 45% of its $3.13B portfolio in Q3 2024.
- Aaron Cowen opened 15 new positions and closed 15 in Q3 2024.
- Aaron Cowen's portfolio value rose 15% quarter-over-quarter to $3.13B.
Based on Suvretta Capital Management's 13F filing for Q3 2024, filed 14 Nov 2024.