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 |
XYZ
Block Inc
XYZ
|
+$62.1M |
| 2 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$46.1M |
| 3 |
Canadian Pacific Kansas City
CP
|
+$45.9M |
| 4 |
Fidelity National Information Services
FIS
|
+$44M |
| 5 |
Royalty Pharma
RPRX
|
+$43.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amazon
AMZN
|
+$147M |
| 2 |
Microsoft
MSFT
|
+$93.8M |
| 3 |
S&P Global
SPGI
|
+$84.8M |
| 4 |
SCHW
Charles Schwab
SCHW
|
+$82.9M |
| 5 |
Johnson & Johnson
JNJ
|
+$73.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 56.98% |
| 2 | Industrials | 11.58% |
| 3 | Consumer Discretionary | 10.43% |
| 4 | Technology | 7.11% |
| 5 | Financials | 5.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Royalty Pharma
RPRX
$27.3B
| $129M | 4.92% |
3,078,506
+1,052,896
| +52% | +$43.2M |
|
2
UnitedHealth
UNH
$350B
| $124M | 4.71% |
240,997
| – | – |
|
3
Union Pacific
UNP
$183B
| $113M | 4.31% |
532,015
-81,613
| -13% | -$18.6M |
|
4
Las Vegas Sands
LVS
$30.5B
| $97.5M | 3.71% |
2,903,711
+628,429
| +28% | +$21.7M |
|
5
Humana
HUM
$45.5B
| $92.5M | 3.52% |
197,668
+8,780
| +5% | +$3.91M |
|
6
Otis Worldwide
OTIS
$27.2B
| $91.7M | 3.49% |
1,297,480
| – | – |
|
7
IQVIA
IQV
$42.8B
| $85.1M | 3.23% |
392,045
+5,335
| +1% | +$1.16M |
|
|
ITCI
8
DELISTED
Intra-Cellular Therapies Inc.
ITCI
| $76.4M | 2.91% |
1,338,700
-193,223
| -13% | -$11M |
|
9
Estee Lauder
EL
$36.9B
| $74.6M | 2.84% |
292,979
-79,496
| -21% | -$20.2M |
|
10
Kura Oncology
KURA
$1.06B
| $73.6M | 2.8% |
4,017,000
+123,981
| +3% | +$1.78M |
|
11
Tapestry
TPR
$26B
| $68.6M | 2.61% |
2,247,709
-72,391
| -3% | -$2.37M |
|
12
Centene
CNC
$32.1B
| $68.3M | 2.6% |
807,438
-389,768
| -33% | -$32.4M |
|
13
Mastercard
MA
$509B
| $66M | 2.51% |
209,111
+18,168
| +10% | +$6.26M |
|
14
Thermo Fisher Scientific
TMO
$233B
| $65.9M | 2.51% |
121,375
+6,306
| +5% | +$3.47M |
|
|
15
Microsoft
MSFT
$3.59T
| $64.2M | 2.44% |
250,157
-345,590
| -58% | -$93.8M |
|
16
Visa
V
$693B
| $64M | 2.43% |
324,818
-113,172
| -26% | -$23.4M |
|
|
MRTX
17
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $63.9M | 2.43% |
951,986
+441,655
| +87% | +$28.1M |
|
18
Danaher
DHR
$154B
| $55.3M | 2.1% |
246,154
-16,185
| -6% | -$3.73M |
|
19
Agios Pharmaceuticals
AGIO
$1.98B
| $51.5M | 1.96% |
2,321,800
+1,144,426
| +97% | +$25.8M |
|
|
ACLX
20
DELISTED
Arcellx
ACLX
| $44.7M | 1.7% |
2,470,559
+937,500
| +61% | +$12.1M |
|
21
Cencora
COR
$60.7B
| $44.5M | 1.69% |
314,691
-68,447
| -18% | -$10.5M |
|
|
22
Canadian Pacific Kansas City
CP
$85B
| $44.3M | 1.68% |
+634,056
| New | +$45.9M |
|
|
XYZ
23
Block Inc
XYZ
$49.4B
| $41.8M | 1.59% |
+679,676
| New | +$62.1M |
|
24
Insmed
INSM
$27.5B
| $41M | 1.56% |
2,078,680
+760,248
| +58% | +$15.9M |
|
25
Viatris
VTRS
$18.7B
| $40.6M | 1.55% |
+3,881,900
| New | +$42.6M |
|
Similar funds
Aaron Cowen's Q2 2022 Portfolio in Review
As of Q2 2022, Aaron Cowen held 110 positions worth $2.63B, down 20% from $3.27B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Aaron Cowen withdrew a net $229M in Q2 2022, closing 21 positions and reducing 18 holdings. Its most notable exit was Amazon, an estimated $147M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 57% of assets, up from 48% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, Aaron Cowen opened a new position in Block Inc worth $41.8M.
- Aaron Cowen's largest Q2 2022 buy was Block Inc: 679,676 shares worth $41.8M.
- Aaron Cowen added most to Royalty Pharma in Q2 2022, an estimated $43.2M increase.
- Aaron Cowen's biggest Q2 2022 reduction was Microsoft, cutting an estimated $93.8M.
- Aaron Cowen fully exited Amazon in Q2 2022, selling an estimated $147M.
- Aaron Cowen's ten largest holdings make up 36% of its $2.63B portfolio in Q2 2022.
- Aaron Cowen opened 23 new positions and closed 21 in Q2 2022.
- Aaron Cowen's portfolio value fell 20% quarter-over-quarter to $2.63B.
Based on Suvretta Capital Management's 13F filing for Q2 2022, filed 15 Aug 2022.