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 |
Coca-Cola
KO
|
+$32.8M |
| 2 |
Apple
AAPL
|
+$32.1M |
| 3 |
ArriVent BioPharma
AVBP
|
+$31.5M |
| 4 |
argenx
ARGX
|
+$26.4M |
| 5 |
CRH
CRH
|
+$25.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ACLX
Arcellx
ACLX
|
+$55.4M |
| 2 |
Royalty Pharma
RPRX
|
+$48.3M |
| 3 |
Las Vegas Sands
LVS
|
+$36.3M |
| 4 |
Microsoft
MSFT
|
+$33.4M |
| 5 |
TERN
Terns Pharmaceuticals
TERN
|
+$29.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 59.68% |
| 2 | Technology | 7.85% |
| 3 | Communication Services | 7.05% |
| 4 | Consumer Discretionary | 4.46% |
| 5 | Financials | 3.28% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$809B
| $235M | 8.74% |
+450,000
| New | +$224M |
|
2
Biohaven
BHVN
$2.09B
| $219M | 8.13% |
4,003,046
-569,790
| -12% | -$28.2M |
|
3
Kura Oncology
KURA
$1.06B
| $151M | 5.6% |
7,069,627
+123,397
| +2% | +$2.4M |
|
|
ACLX
4
DELISTED
Arcellx
ACLX
| $109M | 4.04% |
1,562,354
-873,620
| -36% | -$55.4M |
|
5
PUT
Invesco QQQ Trust
QQQ
$486B
| $86.6M | 3.22% |
+195,000
| New | +$83.6M |
|
6
Meta Platforms (Facebook)
META
$1.4T
| $84.3M | 3.13% |
173,605
-46,578
| -21% | -$20.8M |
|
7
Ultragenyx Pharmaceutical
RARE
$2.55B
| $78.3M | 2.91% |
1,676,811
-449,495
| -21% | -$21.2M |
|
8
Arcutis Biotherapeutics
ARQT
$3.15B
| $78.1M | 2.9% |
7,877,297
-595,804
| -7% | -$4.45M |
|
9
EyePoint Inc
EYPT
$459M
| $77.8M | 2.89% |
3,763,888
-292,959
| -7% | -$7.25M |
|
|
ETNB
10
DELISTED
89bio
ETNB
| $73.3M | 2.72% |
6,298,004
+1,409,570
| +29% | +$15.6M |
|
|
11
Royalty Pharma
RPRX
$27.3B
| $68.3M | 2.54% |
2,250,361
-1,637,341
| -42% | -$48.3M |
|
|
ITCI
12
DELISTED
Intra-Cellular Therapies Inc.
ITCI
| $66.4M | 2.47% |
959,198
-206,750
| -18% | -$14.2M |
|
13
Amazon
AMZN
$2.79T
| $64.4M | 2.39% |
356,962
-11,127
| -3% | -$1.86M |
|
14
Advanced Micro Devices
AMD
$773B
| $61.7M | 2.29% |
341,699
+8,231
| +2% | +$1.44M |
|
15
Insmed
INSM
$27.5B
| $54.9M | 2.04% |
2,023,000
-661,487
| -25% | -$18.5M |
|
16
Cigna
CI
$73.3B
| $49.8M | 1.85% |
137,139
+40,839
| +42% | +$13.4M |
|
|
KALV
17
DELISTED
KalVista Pharmaceuticals
KALV
| $49.7M | 1.85% |
4,192,005
+1,508,000
| +56% | +$20.1M |
|
18
Verizon
VZ
$205B
| $49.5M | 1.84% |
1,179,452
+462,602
| +65% | +$18.7M |
|
|
19
argenx
ARGX
$65B
| $48M | 1.78% |
121,900
+68,200
| +127% | +$26.4M |
|
|
MRNS
20
DELISTED
Marinus Pharmaceuticals, Inc
MRNS
| $46.2M | 1.72% |
5,108,520
-237,599
| -4% | -$2.31M |
|
21
Goldman Sachs
GS
$303B
| $45.9M | 1.7% |
109,890
-420
| -0.4% | -$163K |
|
22
TSMC
TSM
$2.17T
| $44.8M | 1.66% |
329,352
-58,880
| -15% | -$7.31M |
|
23
AT&T
T
$173B
| $42.2M | 1.57% |
2,398,619
+1,178,539
| +97% | +$20.1M |
|
24
Apollo Global Management
APO
$78.4B
| $41.7M | 1.55% |
370,636
-170,184
| -31% | -$18M |
|
25
Ferguson
FERG
$46.9B
| $37M | 1.37% |
169,280
-6,810
| -4% | -$1.36M |
|
Similar funds
Aaron Cowen's Q1 2024 Portfolio in Review
As of Q1 2024, Aaron Cowen held 113 positions worth $2.69B, up 22% from $2.21B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Aaron Cowen deployed $129M of net new capital in Q1 2024, opening 25 new positions and adding to 16 existing holdings. Its largest new stake was Coca-Cola: 546,500 shares worth $33.4M.
By sector, the portfolio is most concentrated in Healthcare at 60% of assets, down from 70% a quarter earlier, followed by Technology and Communication Services.
On the sell side, the largest reduction was Arcellx, an estimated $55.4M trimmed.
- Aaron Cowen's largest Q1 2024 buy was Coca-Cola: 546,500 shares worth $33.4M.
- Aaron Cowen added most to argenx in Q1 2024, an estimated $26.4M increase.
- Aaron Cowen's biggest Q1 2024 reduction was Arcellx, cutting an estimated $55.4M.
- Aaron Cowen fully exited Las Vegas Sands in Q1 2024, selling an estimated $36.3M.
- Aaron Cowen's ten largest holdings make up 44% of its $2.69B portfolio in Q1 2024.
- Aaron Cowen opened 25 new positions and closed 12 in Q1 2024.
- Aaron Cowen's portfolio value rose 22% quarter-over-quarter to $2.69B.
Based on Suvretta Capital Management's 13F filing for Q1 2024, filed 15 May 2024.