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 |
NextEra Energy
NEE
|
+$50.2M |
| 2 |
Liberty Global Class C
LBTYK
|
+$47.3M |
| 3 |
APC
Anadarko Petroleum
APC
|
+$39.4M |
| 4 |
PARA
Paramount Global Class B
PARA
|
+$35.9M |
| 5 |
MON
Monsanto Co
MON
|
+$34.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Equinix
EQIX
|
+$38.7M |
| 2 |
PPLI
People Inc
PPLI
|
+$38M |
| 3 |
eBay
EBAY
|
+$33.5M |
| 4 |
Union Pacific
UNP
|
+$30.1M |
| 5 |
Dollar General
DG
|
+$25.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 21.78% |
| 2 | Energy | 21.54% |
| 3 | Communication Services | 18.9% |
| 4 | Materials | 10.63% |
| 5 | Consumer Staples | 8.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Cheniere Energy
LNG
$57.3B
| $81.3M | 7.35% |
1,134,400
+47,400
| +4% | +$2.88M |
|
2
Air Products & Chemicals
APD
$67.9B
| $66.4M | 6% |
557,688
+195,229
| +54% | +$21.8M |
|
|
AGN
3
DELISTED
Allergan plc
AGN
| $64.1M | 5.79% |
287,400
+32,800
| +13% | +$6.79M |
|
|
IHS
4
DELISTED
IHS INC CL-A COM STK
IHS
| $53.4M | 4.83% |
393,500
-9,900
| -2% | -$1.24M |
|
|
5
NextEra Energy
NEE
$174B
| $52.9M | 4.78% |
+2,065,600
| New | +$50.2M |
|
|
6
Liberty Global Class C
LBTYK
$3.55B
| $49M | 4.43% |
+1,430,287
| New | +$47.3M |
|
7
Capri Holdings
CPRI
$1.55B
| $46.3M | 4.19% |
522,400
+253,000
| +94% | +$23.2M |
|
|
AGN
8
DELISTED
Allergan Inc
AGN
| $43M | 3.89% |
254,000
+134,500
| +113% | +$20.9M |
|
|
APC
9
DELISTED
Anadarko Petroleum
APC
| $42.4M | 3.83% |
+387,200
| New | +$39.4M |
|
|
ENDP
10
DELISTED
Endo International plc
ENDP
| $39.2M | 3.54% |
559,500
+77,700
| +16% | +$5.19M |
|
|
TWX
11
DELISTED
Time Warner Inc
TWX
| $38.8M | 3.51% |
552,200
-336,227
| -38% | -$22.1M |
|
12
Dollar Tree
DLTR
$25.3B
| $38.6M | 3.49% |
709,400
-63,500
| -8% | -$3.34M |
|
|
PARA
13
DELISTED
Paramount Global Class B
PARA
| $37.5M | 3.39% |
+603,300
| New | +$35.9M |
|
|
MON
14
DELISTED
Monsanto Co
MON
| $37M | 3.35% |
+296,800
| New | +$34.7M |
|
15
HCA Healthcare
HCA
$92.9B
| $33.9M | 3.07% |
601,600
+271,600
| +82% | +$14.3M |
|
|
TFCFA
16
DELISTED
Twenty-First Century Fox, Inc. Class A
TFCFA
| $30.4M | 2.75% |
+865,700
| New | +$29.4M |
|
|
SEMG
17
DELISTED
SEMGROUP CORPORATION
SEMG
| $28.9M | 2.62% |
367,000
+74,500
| +25% | +$5.06M |
|
18
SLB Ltd
SLB
$79.9B
| $28.9M | 2.61% |
+245,100
| New | +$25.3M |
|
|
BKW
19
DELISTED
BURGER KING WORLDWIDE
BKW
| $28.9M | 2.61% |
1,060,000
+151,500
| +17% | +$3.93M |
|
20
Constellation Brands
STZ
$23.2B
| $28.8M | 2.61% |
327,000
-233,400
| -42% | -$19.3M |
|
21
PepsiCo
PEP
$196B
| $28.3M | 2.56% |
+316,700
| New | +$27.3M |
|
22
Thermo Fisher Scientific
TMO
$233B
| $27.6M | 2.49% |
233,600
-15,900
| -6% | -$1.87M |
|
23
EQT Corp
EQT
$33.6B
| $27.4M | 2.48% |
+470,823
| New | +$27M |
|
24
Williams Companies
WMB
$86.2B
| $26.7M | 2.42% |
+459,000
| New | +$21.3M |
|
25
Armstrong World Industries
AWI
$7.55B
| $23.9M | 2.16% |
+415,834
| New | +$22.5M |
|
Similar funds
Aaron Cowen's Q2 2014 Portfolio in Review
As of Q2 2014, Aaron Cowen held 49 positions worth $1.11B, up 32% from $840M the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Aaron Cowen deployed $180M of net new capital in Q2 2014, opening 18 new positions and adding to 9 existing holdings. Its largest new stake was NextEra Energy: 2,065,600 shares worth $52.9M.
By sector, the portfolio is most concentrated in Healthcare at 22% of assets, down from 24% a quarter earlier, followed by Energy and Communication Services.
On the sell side, the largest reduction was Adobe, an estimated $22.4M trimmed.
- Aaron Cowen's largest Q2 2014 buy was NextEra Energy: 2,065,600 shares worth $52.9M.
- Aaron Cowen added most to Capri Holdings in Q2 2014, an estimated $23.2M increase.
- Aaron Cowen's biggest Q2 2014 reduction was Adobe, cutting an estimated $22.4M.
- Aaron Cowen fully exited Equinix in Q2 2014, selling an estimated $38.7M.
- Aaron Cowen's ten largest holdings make up 49% of its $1.11B portfolio in Q2 2014.
- Aaron Cowen opened 18 new positions and closed 15 in Q2 2014.
- Aaron Cowen's portfolio value rose 32% quarter-over-quarter to $1.11B.
Based on Suvretta Capital Management's 13F filing for Q2 2014, filed 14 Aug 2014.