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 |
Meta Platforms (Facebook)
META
|
+$233M |
| 2 |
Otis Worldwide
OTIS
|
+$135M |
| 3 |
Royalty Pharma
RPRX
|
+$107M |
| 4 |
Baxter International
BAX
|
+$105M |
| 5 |
Five Below
FIVE
|
+$104M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$226M |
| 2 |
Boston Scientific
BSX
|
+$147M |
| 3 |
Johnson & Johnson
JNJ
|
+$121M |
| 4 |
Fidelity National Information Services
FIS
|
+$99.8M |
| 5 |
Amazon
AMZN
|
+$68.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 22.12% |
| 2 | Technology | 20.81% |
| 3 | Industrials | 20.34% |
| 4 | Consumer Discretionary | 17.45% |
| 5 | Communication Services | 11.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Adobe
ADBE
$109B
| $422M | 9.07% |
970,035
-500
| -0.1% | -$185K |
|
|
2
Amazon
AMZN
$2.79T
| $274M | 5.88% |
1,983,000
-564,260
| -22% | -$68.2M |
|
|
3
Meta Platforms (Facebook)
META
$1.4T
| $253M | 5.44% |
+1,114,740
| New | +$233M |
|
4
Charter Communications
CHTR
$17.9B
| $166M | 3.58% |
326,320
-44,560
| -12% | -$22.6M |
|
|
ATVI
5
DELISTED
Activision Blizzard
ATVI
| $152M | 3.26% |
1,997,450
-550,113
| -22% | -$38.4M |
|
6
Union Pacific
UNP
$183B
| $150M | 3.22% |
885,350
-247,260
| -22% | -$39.6M |
|
|
7
Fidelity National Information Services
FIS
$21.3B
| $149M | 3.2% |
1,111,340
-759,588
| -41% | -$99.8M |
|
|
8
Otis Worldwide
OTIS
$27.2B
| $148M | 3.18% |
+2,600,994
| New | +$135M |
|
9
IQVIA
IQV
$42.8B
| $134M | 2.88% |
944,290
-100,730
| -10% | -$13.7M |
|
10
Uber
UBER
$161B
| $124M | 2.65% |
3,975,001
+2,655,847
| +201% | +$82.8M |
|
|
11
Five Below
FIVE
$13.8B
| $119M | 2.55% |
+1,111,000
| New | +$104M |
|
12
Dollar General
DG
$27.2B
| $118M | 2.53% |
617,280
+106,340
| +21% | +$19.2M |
|
13
Take-Two Interactive
TTWO
$44.8B
| $114M | 2.44% |
813,573
+186,739
| +30% | +$24.4M |
|
14
Canadian Pacific Kansas City
CP
$85B
| $108M | 2.32% |
+2,113,050
| New | +$100M |
|
15
Global Payments
GPN
$24.7B
| $107M | 2.29% |
628,043
+17,570
| +3% | +$2.92M |
|
|
16
Royalty Pharma
RPRX
$27.3B
| $105M | 2.25% |
+2,153,000
| New | +$107M |
|
|
17
Baxter International
BAX
$13.6B
| $104M | 2.23% |
+1,204,204
| New | +$105M |
|
18
Jacobs Solutions
J
$17.6B
| $103M | 2.22% |
1,471,948
+132,514
| +10% | +$8.93M |
|
19
UnitedHealth
UNH
$350B
| $96.6M | 2.08% |
327,480
-205,610
| -39% | -$58.9M |
|
20
PayPal
PYPL
$52.7B
| $94.2M | 2.02% |
+540,700
| New | +$74.7M |
|
21
TJX Companies
TJX
$155B
| $91.6M | 1.97% |
1,810,740
+652,700
| +56% | +$32.8M |
|
22
McKesson
MCK
$100B
| $89M | 1.91% |
579,900
-394,015
| -40% | -$56.9M |
|
23
Centene
CNC
$32.1B
| $87.9M | 1.89% |
1,382,640
-757,871
| -35% | -$49.3M |
|
24
KBR
KBR
$4.86B
| $71.3M | 1.53% |
3,160,264
+44,904
| +1% | +$976K |
|
25
Amphenol
APH
$194B
| $71.1M | 1.53% |
+2,967,040
| New | +$66.2M |
|
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Aaron Cowen's Q2 2020 Portfolio in Review
As of Q2 2020, Aaron Cowen held 109 positions worth $4.65B, up 26% from $3.7B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Aaron Cowen deployed $238M of net new capital in Q2 2020, opening 44 new positions and adding to 20 existing holdings. Its largest new stake was Meta Platforms (Facebook): 1,114,740 shares worth $253M.
By sector, the portfolio is most concentrated in Healthcare at 22% of assets, down from 26% a quarter earlier, followed by Technology and Industrials.
On the sell side, the largest reduction was Boston Scientific, an estimated $147M trimmed.
- Aaron Cowen's largest Q2 2020 buy was Meta Platforms (Facebook): 1,114,740 shares worth $253M.
- Aaron Cowen added most to Uber in Q2 2020, an estimated $82.8M increase.
- Aaron Cowen's biggest Q2 2020 reduction was Boston Scientific, cutting an estimated $147M.
- Aaron Cowen fully exited Salesforce in Q2 2020, selling an estimated $226M.
- Aaron Cowen's ten largest holdings make up 42% of its $4.65B portfolio in Q2 2020.
- Aaron Cowen opened 44 new positions and closed 29 in Q2 2020.
- Aaron Cowen's portfolio value rose 26% quarter-over-quarter to $4.65B.
Based on Suvretta Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.