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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
+6.31%
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
$3.92B
AUM Growth
-$967M
Cap. Flow
-$852M
Cap. Flow %
-21.77%
Top 10 Hldgs %
42.44%
Holding
108
New
15
Increased
23
Reduced
16
Closed
19

Top Buys

Rank Stock Value
1
MANE
Veradermics Inc
MANE
+$210M
2
CAPR icon
Capricor Therapeutics
CAPR
+$54.2M
3
VMC icon
Vulcan Materials
VMC
+$53.4M
4
CRNX icon
Crinetics Pharmaceuticals
CRNX
+$46.6M
5
PFGC icon
Performance Food Group
PFGC
+$35.4M

Top Sells

Rank Stock Value
1
ERAS icon
Erasca
ERAS
+$131M
2
KO icon
Coca-Cola
KO
+$96.7M
3
MSFT icon
Microsoft
MSFT
+$64.7M
4
NOW icon
ServiceNow
NOW
+$59.7M
5
CRM icon
Salesforce
CRM
+$53M

Sector Composition

Rank Sector Weight
1 Healthcare 65.36%
2 Technology 6.7%
3 Consumer Discretionary 5.89%
4 Financials 4.13%
5 Consumer Staples 3.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MRNA icon
101
Moderna
MRNA
$57.9B
– –
-205,593
Closed -$6.06M
NOW icon
102
ServiceNow
NOW
$133B
– –
-389,445
Closed -$59.7M
ORCL icon
103
Oracle
ORCL
$422B
– –
-226,318
Closed -$44.1M
QURE icon
104
uniQure
QURE
$3.36B
– –
-1,216,734
Closed -$29.1M
RARE icon
105
Ultragenyx Pharmaceutical
RARE
$2.55B
– –
-2,019,000
Closed -$46.4M
RCKT icon
106
Rocket Pharmaceuticals
RCKT
$385M
– –
-2,992,735
Closed -$10.5M
TNGX icon
107
Tango Therapeutics
TNGX
$4.03B
– –
-2,662,227
Closed -$23.6M
UTHR icon
108
United Therapeutics
UTHR
$22B
– –
-7,500
Closed -$3.65M
1 2 3 4
5

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Aaron Cowen's Q1 2026 Portfolio in Review

As of Q1 2026, Aaron Cowen held 108 positions worth $3.92B, down 20% from $4.88B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Aaron Cowen withdrew a net $852M in Q1 2026, closing 19 positions and reducing 16 holdings. Its most notable exit was Coca-Cola, an estimated $96.7M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 65% of assets, up from 51% a quarter earlier, followed by Technology and Consumer Discretionary.

Against the trend, Aaron Cowen opened a new position in Veradermics Inc worth $263M.

  • Aaron Cowen's largest Q1 2026 buy was Veradermics Inc: 4,168,970 shares worth $263M.
  • Aaron Cowen added most to Capricor Therapeutics in Q1 2026, an estimated $54.2M increase.
  • Aaron Cowen's biggest Q1 2026 reduction was Erasca, cutting an estimated $131M.
  • Aaron Cowen fully exited Coca-Cola in Q1 2026, selling an estimated $96.7M.
  • Aaron Cowen's ten largest holdings make up 42% of its $3.92B portfolio in Q1 2026.
  • Aaron Cowen opened 15 new positions and closed 19 in Q1 2026.
  • Aaron Cowen's portfolio value fell 20% quarter-over-quarter to $3.92B.

Based on Suvretta Capital Management's 13F filing for Q1 2026, filed 15 May 2026.