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 |
Coca-Cola
KO
|
+$58.2M |
| 2 |
Dick's Sporting Goods
DKS
|
+$48.3M |
| 3 |
GE HealthCare
GEHC
|
+$37.1M |
| 4 |
Danaher
DHR
|
+$31.2M |
| 5 |
GE Aerospace
GE
|
+$24M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Insmed
INSM
|
+$95.9M |
| 2 |
ITCI
Intra-Cellular Therapies Inc.
ITCI
|
+$92.5M |
| 3 |
Microsoft
MSFT
|
+$35.3M |
| 4 |
Chipotle Mexican Grill
CMG
|
+$27.1M |
| 5 |
United Airlines
UAL
|
+$26.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 48.97% |
| 2 | Technology | 9.89% |
| 3 | Consumer Discretionary | 5.64% |
| 4 | Financials | 4.91% |
| 5 | Communication Services | 4.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
McKesson
MCK
$100B
| $1.34M | 0.04% |
1,830
| – | – |
|
77
Wingstop
WING
$3.14B
| $1.33M | 0.04% |
+3,961
| New | +$1.17M |
|
78
HCA Healthcare
HCA
$92.9B
| $1.22M | 0.04% |
3,190
| – | – |
|
79
IQVIA
IQV
$42.8B
| $1.13M | 0.03% |
7,175
| – | – |
|
80
Waters Corp
WAT
$40.4B
| $1.1M | 0.03% |
3,150
| – | – |
|
|
LKFT
81
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.89B
| $1.04M | 0.03% |
37,111
| – | – |
|
82
Avantor
AVTR
$9.78B
| $967K | 0.03% |
71,850
| – | – |
|
|
OS
83
DELISTED
OneStream Inc
OS
| $936K | 0.03% |
+33,080
| New | +$824K |
|
84
Edwards Lifesciences
EW
$51.8B
| $868K | 0.03% |
11,100
| – | – |
|
|
85
United Airlines
UAL
$36.7B
| $828K | 0.03% |
10,401
-355,974
| -97% | -$26.2M |
|
86
CRH
CRH
$63.2B
| $777K | 0.02% |
8,460
-5,590
| -40% | -$510K |
|
87
ResMed
RMD
$33.4B
| $617K | 0.02% |
2,390
| – | – |
|
88
Agilent Technologies
A
$44.9B
| $589K | 0.02% |
4,990
| – | – |
|
89
Veralto
VLTO
$24.1B
| $553K | 0.02% |
5,475
| – | – |
|
90
Caesars Entertainment
CZR
$6.06B
| $536K | 0.02% |
18,875
-633,618
| -97% | -$17.2M |
|
91
Ionis Pharmaceuticals
IONS
$9.93B
| $427K | 0.01% |
10,800
| – | – |
|
92
Steris
STE
$23.2B
| $368K | 0.01% |
1,530
| – | – |
|
93
PepGen
PEPG
$217M
| $333K | 0.01% |
300,000
-1,360,932
| -82% | -$1.92M |
|
94
Sarepta Therapeutics
SRPT
$1.98B
| $306K | 0.01% |
17,888
| – | – |
|
95
Zimmer Biomet
ZBH
$19.3B
| $297K | 0.01% |
3,260
| – | – |
|
96
PACS Group
PACS
$7.01B
| $258K | 0.01% |
20,000
| – | – |
|
97
Baxter International
BAX
$13.6B
| $241K | 0.01% |
7,970
| – | – |
|
98
Align Technology
ALGN
$11.5B
| $208K | 0.01% |
+1,100
| New | +$194K |
|
99
Alnylam Pharmaceuticals
ALNY
$31.6B
| – | – |
-9,370
| Closed | -$2.53M |
|
|
100
Chipotle Mexican Grill
CMG
$46.7B
| – | – |
-539,540
| Closed | -$27.1M |
|
Similar funds
Aaron Cowen's Q2 2025 Portfolio in Review
As of Q2 2025, Aaron Cowen held 112 positions worth $3.32B, up 23% from $2.69B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Aaron Cowen deployed $387M of net new capital in Q2 2025, opening 12 new positions and adding to 30 existing holdings. Its largest new stake was Dick's Sporting Goods: 260,465 shares worth $51.5M.
By sector, the portfolio is most concentrated in Healthcare at 49% of assets, down from 60% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Insmed, an estimated $95.9M trimmed.
- Aaron Cowen's largest Q2 2025 buy was Dick's Sporting Goods: 260,465 shares worth $51.5M.
- Aaron Cowen added most to Coca-Cola in Q2 2025, an estimated $58.2M increase.
- Aaron Cowen's biggest Q2 2025 reduction was Insmed, cutting an estimated $95.9M.
- Aaron Cowen fully exited Intra-Cellular Therapies Inc. in Q2 2025, selling an estimated $92.5M.
- Aaron Cowen's ten largest holdings make up 46% of its $3.32B portfolio in Q2 2025.
- Aaron Cowen opened 12 new positions and closed 14 in Q2 2025.
- Aaron Cowen's portfolio value rose 23% quarter-over-quarter to $3.32B.
Based on Suvretta Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.