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AC

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
+31.27%
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
$3.91B
AUM Growth
+$590M
Cap. Flow
+$43.3M
Cap. Flow %
1.11%
Top 10 Hldgs %
41.55%
Holding
108
New
10
Increased
23
Reduced
13
Closed
15

Top Buys

Rank Stock Value
1
KDP icon
Keurig Dr Pepper
KDP
+$49.2M
2
CRM icon
Salesforce
CRM
+$31.6M
3
RNAM
Avidity Biosciences
RNAM
+$30.3M
4
MSOS icon
AdvisorShares Pure US Cannabis ETF
MSOS
+$28.2M
5
FERG icon
Ferguson
FERG
+$26.4M

Top Sells

Rank Stock Value
1
ETNB
89bio
ETNB
+$60.4M
2
GEHC icon
GE HealthCare
GEHC
+$39.4M
3
DKS icon
Dick's Sporting Goods
DKS
+$28.8M
4
DDOG icon
Datadog
DDOG
+$24M
5
ARQT icon
Arcutis Biotherapeutics
ARQT
+$16.7M

Sector Composition

Rank Sector Weight
1 Healthcare 51.02%
2 Technology 11.4%
3 Consumer Discretionary 5.04%
4 Financials 4.79%
5 Industrials 4.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SYK icon
76
Stryker
SYK
$126B
$2.17M 0.06%
5,860
– –
DXCM icon
77
DexCom
DXCM
$34.8B
$2.13M 0.05%
31,680
– –
NTRA icon
78
Natera
NTRA
$47.9B
$1.63M 0.04%
10,100
– –
MCK icon
79
McKesson
MCK
$100B
$1.41M 0.04%
1,830
– –
IQV icon
80
IQVIA
IQV
$42.8B
$1.36M 0.03%
7,175
– –
HCA icon
81
HCA Healthcare
HCA
$92.9B
$1.36M 0.03%
3,190
– –
LKFT
82
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.89B
$1.29M 0.03%
37,111
– –
WAT icon
83
Waters Corp
WAT
$40.4B
$944K 0.02%
3,150
– –
AVTR icon
84
Avantor
AVTR
$9.78B
$897K 0.02%
71,850
– –
EW icon
85
Edwards Lifesciences
EW
$51.8B
$863K 0.02%
11,100
– –
IONS icon
86
Ionis Pharmaceuticals
IONS
$9.93B
$707K 0.02%
10,800
– –
RMD icon
87
ResMed
RMD
$33.4B
$654K 0.02%
2,390
– –
A icon
88
Agilent Technologies
A
$44.9B
$640K 0.02%
4,990
– –
VLTO icon
89
Veralto
VLTO
$24.1B
$584K 0.01%
5,475
– –
STE icon
90
Steris
STE
$23.2B
$379K 0.01%
1,530
– –
SRPT icon
91
Sarepta Therapeutics
SRPT
$1.98B
$345K 0.01%
17,888
– –
ZBH icon
92
Zimmer Biomet
ZBH
$19.3B
$321K 0.01%
3,260
– –
PACS icon
93
PACS Group
PACS
$7.01B
$275K 0.01%
20,000
– –
ALGN icon
94
Align Technology
ALGN
$11.5B
– –
-1,100
Closed -$208K
BAX icon
95
Baxter International
BAX
$13.6B
– –
-7,970
Closed -$241K
CRH icon
96
CRH
CRH
$63.2B
– –
-8,460
Closed -$777K
CZR icon
97
Caesars Entertainment
CZR
$6.06B
– –
-18,875
Closed -$536K
DDOG icon
98
Datadog
DDOG
$84.6B
– –
-178,832
Closed -$24M
GEHC icon
99
GE HealthCare
GEHC
$33.8B
– –
-532,280
Closed -$39.4M
IWM icon
100
PUT
iShares Russell 2000 ETF
IWM
$81.9B
– –
-702,500
Closed -$152M
1 2 3
4
5

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Aaron Cowen's Q3 2025 Portfolio in Review

As of Q3 2025, Aaron Cowen held 108 positions worth $3.91B, up 18% from $3.32B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Aaron Cowen's Q3 2025 filing shows 10 new, 23 increased, 13 reduced and 15 closed positions. Its largest new stake was Keurig Dr Pepper: 1,570,000 shares worth $40.1M. The largest sale was 89bio, an estimated $60.4M.

By sector, the portfolio is most concentrated in Healthcare at 51% of assets, up from 49% a quarter earlier, followed by Technology and Consumer Discretionary.

  • Aaron Cowen's largest Q3 2025 buy was Keurig Dr Pepper: 1,570,000 shares worth $40.1M.
  • Aaron Cowen added most to Ferguson in Q3 2025, an estimated $26.4M increase.
  • Aaron Cowen's biggest Q3 2025 reduction was 89bio, cutting an estimated $60.4M.
  • Aaron Cowen fully exited GE HealthCare in Q3 2025, selling an estimated $39.4M.
  • Aaron Cowen's ten largest holdings make up 42% of its $3.91B portfolio in Q3 2025.
  • Aaron Cowen opened 10 new positions and closed 15 in Q3 2025.
  • Aaron Cowen's portfolio value rose 18% quarter-over-quarter to $3.91B.

Based on Suvretta Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.