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 |
Meta Platforms (Facebook)
META
|
+$233M |
| 2 |
Otis Worldwide
OTIS
|
+$135M |
| 3 |
Royalty Pharma
RPRX
|
+$107M |
| 4 |
Baxter International
BAX
|
+$105M |
| 5 |
Five Below
FIVE
|
+$104M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$226M |
| 2 |
Boston Scientific
BSX
|
+$147M |
| 3 |
Johnson & Johnson
JNJ
|
+$121M |
| 4 |
Fidelity National Information Services
FIS
|
+$99.8M |
| 5 |
Amazon
AMZN
|
+$68.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 22.12% |
| 2 | Technology | 20.81% |
| 3 | Industrials | 20.34% |
| 4 | Consumer Discretionary | 17.45% |
| 5 | Communication Services | 11.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Starbucks
SBUX
$122B
| – | – |
-591,910
| Closed | -$38.9M |
|
102
Virgin Galactic
SPCE
$467M
| – | – |
-64,100
| Closed | -$18.9M |
|
|
CCXI
103
DELISTED
ChemoCentryx, Inc.
CCXI
| – | – |
-16,000
| Closed | -$871K |
|
|
TMX
104
DELISTED
Terminix Global Holdings, Inc.
TMX
| – | – |
-1,297,340
| Closed | -$35M |
|
|
GBT
105
DELISTED
Global Blood Therapeutics, Inc.
GBT
| – | – |
-21,600
| Closed | -$1.1M |
|
|
ARNA
106
DELISTED
Arena Pharmaceuticals Inc
ARNA
| – | – |
-26,200
| Closed | -$1.1M |
|
|
ALXN
107
DELISTED
Alexion Pharmaceuticals
ALXN
| – | – |
-551,418
| Closed | -$49.5M |
|
|
STML
108
DELISTED
Stemline Therapeutics, Inc.
STML
| – | – |
-295,500
| Closed | -$1.43M |
|
|
SPCE.WS
109
DELISTED
Virgin Galactic Holdings, Inc. Warrants, each whole warrant exercisable for one share of Common Stoc
SPCE.WS
| – | – |
-1,155,683
| Closed | -$8.64M |
|
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Aaron Cowen's Q2 2020 Portfolio in Review
As of Q2 2020, Aaron Cowen held 109 positions worth $4.65B, up 26% from $3.7B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Aaron Cowen deployed $238M of net new capital in Q2 2020, opening 44 new positions and adding to 20 existing holdings. Its largest new stake was Meta Platforms (Facebook): 1,114,740 shares worth $253M.
By sector, the portfolio is most concentrated in Healthcare at 22% of assets, down from 26% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Boston Scientific, an estimated $147M trimmed.
- Aaron Cowen's largest Q2 2020 buy was Meta Platforms (Facebook): 1,114,740 shares worth $253M.
- Aaron Cowen added most to Uber in Q2 2020, an estimated $82.8M increase.
- Aaron Cowen's biggest Q2 2020 reduction was Boston Scientific, cutting an estimated $147M.
- Aaron Cowen fully exited Salesforce in Q2 2020, selling an estimated $226M.
- Aaron Cowen's ten largest holdings make up 42% of its $4.65B portfolio in Q2 2020.
- Aaron Cowen opened 44 new positions and closed 29 in Q2 2020.
- Aaron Cowen's portfolio value rose 26% quarter-over-quarter to $4.65B.
Based on Suvretta Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.