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 |
Biohaven
BHVN
|
+$53.5M |
| 2 |
AT&T
T
|
+$52.8M |
| 3 |
Nike
NKE
|
+$50.1M |
| 4 |
Wynn Resorts
WYNN
|
+$50.1M |
| 5 |
Fidelity National Information Services
FIS
|
+$49.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Microsoft
MSFT
|
+$89.1M |
| 2 |
Walt Disney
DIS
|
+$87.4M |
| 3 |
Amazon
AMZN
|
+$82.9M |
| 4 |
IQVIA
IQV
|
+$71.9M |
| 5 |
Global Payments
GPN
|
+$71.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 47.07% |
| 2 | Consumer Discretionary | 16.29% |
| 3 | Industrials | 12.13% |
| 4 | Consumer Staples | 8.08% |
| 5 | Technology | 7.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
UnitedHealth
UNH
$350B
| $136M | 5.72% |
256,714
+15,717
| +7% | +$8.33M |
|
2
Union Pacific
UNP
$183B
| $108M | 4.53% |
521,173
-11,932
| -2% | -$2.45M |
|
3
Otis Worldwide
OTIS
$27.2B
| $102M | 4.27% |
1,297,480
| – | – |
|
|
HZNP
4
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $99.5M | 4.18% |
874,291
+161,730
| +23% | +$13.4M |
|
5
Estee Lauder
EL
$36.9B
| $98.9M | 4.15% |
398,506
+28,923
| +8% | +$6.46M |
|
6
Tapestry
TPR
$26B
| $83M | 3.49% |
2,180,922
| – | – |
|
7
Kura Oncology
KURA
$1.06B
| $79.1M | 3.32% |
6,376,815
+2,313,687
| +57% | +$33.6M |
|
8
Las Vegas Sands
LVS
$30.5B
| $78.1M | 3.28% |
1,625,685
-768,266
| -32% | -$32.6M |
|
9
Royalty Pharma
RPRX
$27.3B
| $78M | 3.28% |
1,974,625
+131,907
| +7% | +$5.51M |
|
|
ACLX
10
DELISTED
Arcellx
ACLX
| $72.8M | 3.06% |
2,350,333
+100,800
| +4% | +$2.31M |
|
|
11
Nike
NKE
$60.5B
| $58.3M | 2.45% |
+497,937
| New | +$50.1M |
|
12
Canadian Pacific Kansas City
CP
$85B
| $57.1M | 2.4% |
765,840
-10,436
| -1% | -$785K |
|
|
13
Wynn Resorts
WYNN
$10.3B
| $56.5M | 2.37% |
+685,001
| New | +$50.1M |
|
14
Hilton Worldwide
HLT
$73.5B
| $55.2M | 2.32% |
436,756
-108,415
| -20% | -$14.3M |
|
|
ITCI
15
DELISTED
Intra-Cellular Therapies Inc.
ITCI
| $54.9M | 2.3% |
1,036,948
+184,990
| +22% | +$9.27M |
|
|
16
AT&T
T
$173B
| $54.3M | 2.28% |
+2,951,900
| New | +$52.8M |
|
|
17
Biohaven
BHVN
$2.09B
| $53.4M | 2.24% |
3,848,938
+3,785,889
| +6,005% | +$53.5M |
|
|
XYZ
18
Block Inc
XYZ
$49.4B
| $53.1M | 2.23% |
844,303
+182,763
| +28% | +$11.3M |
|
19
Colgate-Palmolive
CL
$72.6B
| $50.8M | 2.13% |
+644,580
| New | +$48.3M |
|
20
Insmed
INSM
$27.5B
| $50.4M | 2.12% |
2,520,901
+1,290,101
| +105% | +$24.9M |
|
|
SCHW
21
Charles Schwab
SCHW
$194B
| $50.3M | 2.11% |
+604,204
| New | +$46.9M |
|
|
22
Fidelity National Information Services
FIS
$21.3B
| $47M | 1.97% |
+693,005
| New | +$49.2M |
|
23
Sutro Biopharma
STRO
$349M
| $45M | 1.89% |
556,510
+54,510
| +11% | +$3.79M |
|
24
Starbucks
SBUX
$122B
| $44.4M | 1.87% |
+448,041
| New | +$42.3M |
|
25
Dollar General
DG
$27.2B
| $42.8M | 1.8% |
+173,850
| New | +$43M |
|
Similar funds
Aaron Cowen's Q4 2022 Portfolio in Review
As of Q4 2022, Aaron Cowen held 114 positions worth $2.38B, down 1.1% from $2.41B the previous quarter. Its ten largest holdings account for 39% of the portfolio.
Aaron Cowen withdrew a net $219M in Q4 2022, closing 25 positions and reducing 15 holdings. Its most notable exit was Microsoft, an estimated $89.1M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 47% of assets, up from 46% a quarter earlier, followed by Consumer Discretionary and Industrials.
Against the trend, Aaron Cowen opened a new position in AT&T worth $54.3M.
- Aaron Cowen's largest Q4 2022 buy was AT&T: 2,951,900 shares worth $54.3M.
- Aaron Cowen added most to Biohaven in Q4 2022, an estimated $53.5M increase.
- Aaron Cowen's biggest Q4 2022 reduction was IQVIA, cutting an estimated $71.9M.
- Aaron Cowen fully exited Microsoft in Q4 2022, selling an estimated $89.1M.
- Aaron Cowen's ten largest holdings make up 39% of its $2.38B portfolio in Q4 2022.
- Aaron Cowen opened 41 new positions and closed 25 in Q4 2022.
- Aaron Cowen's portfolio value fell 1.1% quarter-over-quarter to $2.38B.
Based on Suvretta Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.