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 |
Amazon
AMZN
|
+$92.7M |
| 2 |
Meta Platforms (Facebook)
META
|
+$80.8M |
| 3 |
Take-Two Interactive
TTWO
|
+$66.6M |
| 4 |
Walt Disney
DIS
|
+$61.6M |
| 5 |
ServiceNow
NOW
|
+$57.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Humana
HUM
|
+$92.5M |
| 2 |
Centene
CNC
|
+$68.3M |
| 3 |
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
|
+$63.9M |
| 4 |
Royalty Pharma
RPRX
|
+$52.8M |
| 5 |
Viatris
VTRS
|
+$40.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 45.65% |
| 2 | Industrials | 13.65% |
| 3 | Consumer Discretionary | 13.26% |
| 4 | Communication Services | 10.93% |
| 5 | Technology | 7.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
UnitedHealth
UNH
$350B
| $122M | 5.05% |
240,997
| – | – |
|
2
Union Pacific
UNP
$183B
| $104M | 4.31% |
533,105
+1,090
| +0.2% | +$241K |
|
3
Las Vegas Sands
LVS
$30.5B
| $89.8M | 3.73% |
2,393,951
-509,760
| -18% | -$19M |
|
4
Microsoft
MSFT
$3.59T
| $89.1M | 3.7% |
382,380
+132,223
| +53% | +$34.9M |
|
|
5
Walt Disney
DIS
$186B
| $87.4M | 3.63% |
926,850
+575,924
| +164% | +$61.6M |
|
|
6
Amazon
AMZN
$2.79T
| $82.9M | 3.44% |
+733,460
| New | +$92.7M |
|
7
Otis Worldwide
OTIS
$27.2B
| $82.8M | 3.44% |
1,297,480
| – | – |
|
8
Estee Lauder
EL
$36.9B
| $79.8M | 3.31% |
369,583
+76,604
| +26% | +$19.6M |
|
|
9
Royalty Pharma
RPRX
$27.3B
| $74M | 3.07% |
1,842,718
-1,235,788
| -40% | -$52.8M |
|
10
Global Payments
GPN
$24.7B
| $71.2M | 2.96% |
658,992
+371,770
| +129% | +$45.9M |
|
|
11
Meta Platforms (Facebook)
META
$1.4T
| $67.6M | 2.81% |
+498,290
| New | +$80.8M |
|
12
Hilton Worldwide
HLT
$73.5B
| $65.8M | 2.73% |
545,171
+184,680
| +51% | +$23.4M |
|
13
IQVIA
IQV
$42.8B
| $64.8M | 2.69% |
357,685
-34,360
| -9% | -$7.53M |
|
14
Tapestry
TPR
$26B
| $62M | 2.57% |
2,180,922
-66,787
| -3% | -$2.23M |
|
|
15
Take-Two Interactive
TTWO
$44.8B
| $58.4M | 2.43% |
+536,170
| New | +$66.6M |
|
16
Danaher
DHR
$154B
| $58.4M | 2.43% |
255,088
+8,934
| +4% | +$2.19M |
|
|
17
ServiceNow
NOW
$133B
| $58.2M | 2.42% |
770,750
+643,145
| +504% | +$57.9M |
|
18
Thermo Fisher Scientific
TMO
$233B
| $58.2M | 2.42% |
114,725
-6,650
| -5% | -$3.72M |
|
19
Kura Oncology
KURA
$1.06B
| $55.5M | 2.3% |
4,063,128
+46,128
| +1% | +$712K |
|
20
Canadian Pacific Kansas City
CP
$85B
| $51.8M | 2.15% |
776,276
+142,220
| +22% | +$10.7M |
|
21
Mastercard
MA
$509B
| $51.7M | 2.15% |
181,691
-27,420
| -13% | -$9.09M |
|
22
T-Mobile US
TMUS
$196B
| $49.6M | 2.06% |
369,828
+291,424
| +372% | +$40.9M |
|
23
Visa
V
$693B
| $48.3M | 2.01% |
271,968
-52,850
| -16% | -$10.8M |
|
24
Cencora
COR
$60.7B
| $46.3M | 1.92% |
341,779
+27,088
| +9% | +$3.89M |
|
|
HZNP
25
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $44.1M | 1.83% |
712,561
+225,900
| +46% | +$15.8M |
|
Similar funds
Aaron Cowen's Q3 2022 Portfolio in Review
As of Q3 2022, Aaron Cowen held 102 positions worth $2.41B, down 8.4% from $2.63B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Aaron Cowen withdrew a net $88.5M in Q3 2022, closing 29 positions and reducing 25 holdings. Its most notable exit was Humana, an estimated $92.5M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 46% of assets, down from 57% a quarter earlier, followed by Industrials and Consumer Discretionary.
Against the trend, Aaron Cowen opened a new position in Amazon worth $82.9M.
- Aaron Cowen's largest Q3 2022 buy was Amazon: 733,460 shares worth $82.9M.
- Aaron Cowen added most to Walt Disney in Q3 2022, an estimated $61.6M increase.
- Aaron Cowen's biggest Q3 2022 reduction was Royalty Pharma, cutting an estimated $52.8M.
- Aaron Cowen fully exited Humana in Q3 2022, selling an estimated $92.5M.
- Aaron Cowen's ten largest holdings make up 37% of its $2.41B portfolio in Q3 2022.
- Aaron Cowen opened 13 new positions and closed 29 in Q3 2022.
- Aaron Cowen's portfolio value fell 8.4% quarter-over-quarter to $2.41B.
Based on Suvretta Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.