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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
KYMR icon
101
Kymera Therapeutics
KYMR
$9.96B
– –
-275,000
Closed -$12M
MRNA icon
102
Moderna
MRNA
$57.9B
– –
-517,163
Closed -$14.3M
NVDA icon
103
CALL
NVIDIA
NVDA
$5.2T
– –
-500,000
Closed -$79M
PEPG icon
104
PepGen
PEPG
$217M
– –
-300,000
Closed -$333K
TSHA icon
105
Taysha Gene Therapies
TSHA
$1.98B
– –
-3,217,449
Closed -$7.43M
UAL icon
106
United Airlines
UAL
$36.7B
– –
-10,401
Closed -$828K
WING icon
107
Wingstop
WING
$3.14B
– –
-3,961
Closed -$1.33M
OS
108
DELISTED
OneStream Inc
OS
– –
-33,080
Closed -$936K
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.