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AC

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
+10.85%
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
$3.21B
AUM Growth
-$651M
Cap. Flow
-$899M
Cap. Flow %
-28.01%
Top 10 Hldgs %
59.81%
Holding
62
New
17
Increased
14
Reduced
8
Closed
23

Top Buys

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$285M
2
ORLY icon
O'Reilly Automotive
ORLY
+$84.6M
3
MPC icon
Marathon Petroleum
MPC
+$62.9M
4
FMC icon
FMC
FMC
+$61.5M
5
BABA icon
Alibaba
BABA
+$54.9M

Top Sells

Rank Stock Value
1
JPM icon
JPMorgan Chase
JPM
+$134M
2
CPAY icon
Corpay
CPAY
+$103M
3
CHTR icon
Charter Communications
CHTR
+$100M
4
GS icon
Goldman Sachs
GS
+$80.6M
5
MS icon
Morgan Stanley
MS
+$80.3M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 28.81%
2 Communication Services 25.99%
3 Technology 13.02%
4 Consumer Staples 12.03%
5 Energy 5.34%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ADBE icon
1
Adobe
ADBE
$109B
$348M 10.85%
2,675,842
+78,542
+3% +$9.22M
GOOG icon
2
Alphabet (Google) Class C
GOOG
$4.18T
$288M 8.98%
+6,951,800
New +$285M
CHTR icon
3
Charter Communications
CHTR
$17.9B
$244M 7.6%
745,481
-315,170
-30% -$100M
STZ icon
4
Constellation Brands
STZ
$23.2B
$212M 6.61%
1,309,288
-210,730
-14% -$32.8M
QSR icon
5
Restaurant Brands International
QSR
$28.2B
$204M 6.37%
3,666,760
+89,760
+3% +$4.7M
MPC icon
6
Marathon Petroleum
MPC
$101B
$172M 5.34%
3,393,479
+1,262,740
+59% +$62.9M
DIS icon
7
Walt Disney
DIS
$186B
$141M 4.38%
1,240,120
+497,620
+67% +$54.8M
CMCSA icon
8
Comcast
CMCSA
$95.3B
$130M 4.06%
3,468,406
+426,630
+14% +$15.8M
JD icon
9
JD.com
JD
$39.7B
$94M 2.93%
3,020,743
+1,172,443
+63% +$34.5M
MHK icon
10
Mohawk Industries
MHK
$9.23B
$86.6M 2.7%
377,361
+44,813
+13% +$9.85M
ORLY icon
11
O'Reilly Automotive
ORLY
$72.1B
$84.3M 2.62%
+4,684,200
New +$84.6M
AZO icon
12
AutoZone
AZO
$48.3B
$80.8M 2.52%
111,690
+26,890
+32% +$19.9M
HD icon
13
Home Depot
HD
$335B
$80.7M 2.51%
549,400
-47,300
-8% -$6.71M
FMC icon
14
FMC
FMC
$1.38B
$71.7M 2.23%
+1,188,743
New +$61.5M
UNH icon
15
UnitedHealth
UNH
$350B
$71.6M 2.23%
436,540
+132,840
+44% +$21.8M
CRM icon
16
Salesforce
CRM
$171B
$69.9M 2.18%
847,340
+257,440
+44% +$20.6M
USFD icon
17
US Foods
USFD
$23.7B
$59.1M 1.84%
2,112,960
+452,060
+27% +$12.3M
BABA icon
18
Alibaba
BABA
$286B
$58.2M 1.81%
+539,950
New +$54.9M
OPLN
19
Openlane
OPLN
$4.08B
$57.1M 1.78%
3,454,362
+1,817,907
+111% +$31M
DIS icon
20
CALL
Walt Disney
DIS
$186B
$56.9M 1.77%
501,700
-690,800
-58% -$76.1M
CCEP icon
21
Coca-Cola Europacific Partners
CCEP
$47.7B
$56.7M 1.77%
1,505,626
+32,926
+2% +$1.15M
MCD icon
22
McDonald's
MCD
$192B
$56.5M 1.76%
+435,960
New +$54.7M
LOW icon
23
Lowe's Companies
LOW
$121B
$51.3M 1.6%
+624,560
New +$47.8M
GT icon
24
Goodyear
GT
$1.72B
$48.5M 1.51%
+1,346,890
New +$45.7M
PK icon
25
Park Hotels & Resorts
PK
$3.18B
$44.5M 1.39%
+1,735,242
New +$46.1M
1
2 3

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Aaron Cowen's Q1 2017 Portfolio in Review

As of Q1 2017, Aaron Cowen held 62 positions worth $3.21B, down 17% from $3.86B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Aaron Cowen withdrew a net $899M in Q1 2017, closing 23 positions and reducing 8 holdings. Its most notable exit was JPMorgan Chase, an estimated $134M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 29% of assets, up from 15% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Aaron Cowen opened a new position in Alphabet (Google) Class C worth $288M.

  • Aaron Cowen's largest Q1 2017 buy was Alphabet (Google) Class C: 6,951,800 shares worth $288M.
  • Aaron Cowen added most to Marathon Petroleum in Q1 2017, an estimated $62.9M increase.
  • Aaron Cowen's biggest Q1 2017 reduction was Charter Communications, cutting an estimated $100M.
  • Aaron Cowen fully exited JPMorgan Chase in Q1 2017, selling an estimated $134M.
  • Aaron Cowen's ten largest holdings make up 60% of its $3.21B portfolio in Q1 2017.
  • Aaron Cowen opened 17 new positions and closed 23 in Q1 2017.
  • Aaron Cowen's portfolio value fell 17% quarter-over-quarter to $3.21B.

Based on Suvretta Capital Management's 13F filing for Q1 2017, filed 15 May 2017.