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 |
Marathon Petroleum
MPC
|
+$197M |
| 2 |
Baxter International
BAX
|
+$194M |
| 3 |
Hilton Worldwide
HLT
|
+$176M |
| 4 |
Alibaba
BABA
|
+$170M |
| 5 |
Merck
MRK
|
+$117M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$285M |
| 2 |
AABA
Altaba Inc
AABA
|
+$232M |
| 3 |
RTX Corp
RTX
|
+$167M |
| 4 |
Meta Platforms (Facebook)
META
|
+$145M |
| 5 |
DuPont de Nemours
DD
|
+$141M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 21.34% |
| 2 | Consumer Discretionary | 20.26% |
| 3 | Industrials | 14.84% |
| 4 | Materials | 11.73% |
| 5 | Communication Services | 9.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Salesforce
CRM
$171B
| $431M | 11.42% |
3,160,148
-260,172
| -8% | -$33.2M |
|
2
Adobe
ADBE
$109B
| $374M | 9.91% |
1,534,189
-167,198
| -10% | -$39.6M |
|
|
3
Meta Platforms (Facebook)
META
$1.4T
| $368M | 9.74% |
1,891,523
-804,058
| -30% | -$145M |
|
|
4
Alibaba
BABA
$286B
| $329M | 8.72% |
1,774,219
+890,119
| +101% | +$170M |
|
5
FMC
FMC
$1.38B
| $260M | 6.89% |
3,361,110
+39,490
| +1% | +$2.93M |
|
6
Restaurant Brands International
QSR
$28.2B
| $232M | 6.14% |
3,843,734
-736
| -0% | -$42.2K |
|
7
Constellation Brands
STZ
$23.2B
| $220M | 5.83% |
1,005,667
-301,033
| -23% | -$68M |
|
|
8
Baxter International
BAX
$13.6B
| $203M | 5.38% |
+2,747,061
| New | +$194M |
|
|
9
DuPont de Nemours
DD
$18.7B
| $183M | 4.84% |
1,093,248
-842,833
| -44% | -$141M |
|
|
10
Marathon Petroleum
MPC
$101B
| $181M | 4.79% |
+2,575,432
| New | +$197M |
|
11
Deere & Co
DE
$175B
| $179M | 4.75% |
1,283,369
+784,321
| +157% | +$116M |
|
|
12
Hilton Worldwide
HLT
$73.5B
| $172M | 4.55% |
+2,169,202
| New | +$176M |
|
|
13
RTX Corp
RTX
$283B
| $164M | 4.35% |
2,084,930
-2,131,346
| -51% | -$167M |
|
14
Boeing
BA
$169B
| $164M | 4.34% |
487,551
-209,119
| -30% | -$71.9M |
|
|
15
Merck
MRK
$376B
| $121M | 3.2% |
+2,081,461
| New | +$117M |
|
16
Copart
CPRT
$31.3B
| $52.8M | 1.4% |
3,736,120
+326,360
| +10% | +$4.42M |
|
17
PBF Energy
PBF
$8.72B
| $41.2M | 1.09% |
+983,500
| New | +$41.2M |
|
|
18
CALL
RTX Corp
RTX
$283B
| $40M | 1.06% |
+508,480
| New | +$39.8M |
|
19
Marriott International
MAR
$92.9B
| $31.8M | 0.84% |
+250,981
| New | +$34.1M |
|
|
FPAC.U
20
DELISTED
Far Point Acquisition Corporation Units, each consisting of one share of Class A common stock, $0.00
FPAC.U
| $28.4M | 0.75% |
+2,786,700
| New | +$28.4M |
|
21
Bank of America
BAC
$431B
| – | – |
-2,576,000
| Closed | -$77.3M |
|
|
22
CALL
Salesforce
CRM
$171B
| – | – |
-170,000
| Closed | -$19.8M |
|
|
23
CALL
DuPont de Nemours
DD
$18.7B
| – | – |
-197,441
| Closed | -$31.9M |
|
|
24
CALL
Alphabet (Google) Class C
GOOG
$4.18T
| – | – |
-800,000
| Closed | -$41.3M |
|
|
25
Alphabet (Google) Class C
GOOG
$4.18T
| – | – |
-5,528,000
| Closed | -$285M |
|
Similar funds
Aaron Cowen's Q2 2018 Portfolio in Review
As of Q2 2018, Aaron Cowen held 29 positions worth $3.77B, down 4.8% from $3.96B the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Aaron Cowen withdrew a net $418M in Q2 2018, closing 9 positions and reducing 8 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $285M position sold in full.
By sector, the portfolio is most concentrated in Technology at 21% of assets, down from 25% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, Aaron Cowen opened a new position in Marathon Petroleum worth $181M.
- Aaron Cowen's largest Q2 2018 buy was Marathon Petroleum: 2,575,432 shares worth $181M.
- Aaron Cowen added most to Alibaba in Q2 2018, an estimated $170M increase.
- Aaron Cowen's biggest Q2 2018 reduction was RTX Corp, cutting an estimated $167M.
- Aaron Cowen fully exited Alphabet (Google) Class C in Q2 2018, selling an estimated $285M.
- Aaron Cowen's ten largest holdings make up 74% of its $3.77B portfolio in Q2 2018.
- Aaron Cowen opened 8 new positions and closed 9 in Q2 2018.
- Aaron Cowen's portfolio value fell 4.8% quarter-over-quarter to $3.77B.
Based on Suvretta Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.