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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
+19.62%
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
$7B
AUM Growth
+$1.45B
Cap. Flow
+$669M
Cap. Flow %
9.56%
Top 10 Hldgs %
35.33%
Holding
139
New
45
Increased
38
Reduced
14
Closed
33

Top Buys

Rank Stock Value
1
NFLX icon
Netflix
NFLX
+$143M
2
UNH icon
UnitedHealth
UNH
+$135M
3
DT icon
Dynatrace
DT
+$86.6M
4
OPEN icon
Opendoor
OPEN
+$75.7M
5
EXAS
Exact Sciences
EXAS
+$73.9M

Top Sells

Rank Stock Value
1
PYPL icon
PayPal
PYPL
+$106M
2
APH icon
Amphenol
APH
+$99.8M
3
GAP
The Gap Inc
GAP
+$96.2M
4
AMZN icon
Amazon
AMZN
+$95.6M
5
CPRT icon
Copart
CPRT
+$71M

Sector Composition

Rank Sector Weight
1 Technology 22.5%
2 Healthcare 21.3%
3 Consumer Discretionary 16.78%
4 Industrials 15.25%
5 Communication Services 11.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NKLA
126
DELISTED
Nikola Corporation Common Stock
NKLA
– –
-33,067
Closed -$20.3M
PSTX
127
DELISTED
Poseida Therapeutics, Inc. Common Stock
PSTX
– –
-80,000
Closed -$710K
CERE
128
DELISTED
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
– –
-150,000
Closed -$1.57M
EIGR
129
DELISTED
Eiger BioPharmaceuticals, Inc.
EIGR
– –
-6,647
Closed -$1.62M
TWND.U
130
DELISTED
Tailwind Acquisition Corp. Units, each consisting of one share of Class A common stock and one-half of one warrant
TWND.U
– –
-1,000,000
Closed -$10.1M
CCXI
131
CALL
DELISTED
ChemoCentryx, Inc.
CCXI
– –
-45,000
Closed -$2.47M
TPTX
132
DELISTED
Turning Point Therapeutics, Inc. Common Stock
TPTX
– –
-79,331
Closed -$6.93M
SNPR.U
133
DELISTED
Tortoise Acquisition Corp. II Units, each consisting of one Class A ordinary share and one-fourth of
SNPR.U
– –
-650,000
Closed -$7.07M
CHMA
134
DELISTED
Chiasma, Inc. Common Stock
CHMA
– –
-1,041,556
Closed -$4.48M
CMLFU
135
DELISTED
CM Life Sciences, Inc. Unit
CMLFU
– –
-254,713
Closed -$2.67M
ARYBW
136
DELISTED
ARYA Sciences Acquisition Corp II Warrant
ARYBW
– –
-50,000
Closed -$91K
2 3 4 5
6

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Aaron Cowen's Q4 2020 Portfolio in Review

As of Q4 2020, Aaron Cowen held 139 positions worth $7B, up 26% from $5.55B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Aaron Cowen deployed $669M of net new capital in Q4 2020, opening 45 new positions and adding to 38 existing holdings. Its largest new stake was Dynatrace: 2,179,910 shares worth $94.3M.

By sector, the portfolio is most concentrated in Technology at 22% of assets, down from 23% a quarter earlier, followed by Healthcare and Consumer Discretionary.

On the sell side, the largest reduction was Amazon, an estimated $95.6M trimmed.

  • Aaron Cowen's largest Q4 2020 buy was Dynatrace: 2,179,910 shares worth $94.3M.
  • Aaron Cowen added most to Netflix in Q4 2020, an estimated $143M increase.
  • Aaron Cowen's biggest Q4 2020 reduction was Amazon, cutting an estimated $95.6M.
  • Aaron Cowen fully exited PayPal in Q4 2020, selling an estimated $106M.
  • Aaron Cowen's ten largest holdings make up 35% of its $7B portfolio in Q4 2020.
  • Aaron Cowen opened 45 new positions and closed 33 in Q4 2020.
  • Aaron Cowen's portfolio value rose 26% quarter-over-quarter to $7B.

Based on Suvretta Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.