Suvretta Capital Management’s Return, AUM, and Holdings

Suvretta Capital Management’s largest position on June 30 was in San Francisco-based cloud computing company, Salesforce Com Inc (CRM), valued at $431.04 million and counting 3.16 million shares. The fund actually decreased its stake in this company by 8% during the second quarter. That was in contrast to the smart money investors from our database, who were quite bullish on Salesforce. The company’s stock was held by 82 investors in our system at the end of June, making it more popular than many other companies with similar market caps. The second-largest position in Suvretta Capital Management’s 13F portfolio at the end of June was Adobe Systems Inc (ADBE), being worth around $374.05 million and containing 1.53 million shares. This was another stock in which the fund lowered its position from its previous 13F, by 10%.

The two largest new investments the fund made in the second quarter were in Baxter International Inc (BAX) and Marathon Petroleum Corp (MPC), worth $202.84 million (2.75 million shares) and $180.69 million (2.56 million shares), respectively. Both companies seem like attractive investments at the moment, considering seeing their popularity among the smart money investors tracked by Insider Monkey’s database. Even though Baxter International Inc (BAX) ownership fell by a net total of seven investors during the second quarter, 41 of them still hold long positions which is quite good compared to other companies with similar market caps. As for Marathon Petroleum Corp (MPC), hedge funds are becoming even more bullish on it, with 59 long the stock at the end of June, versus 43 at the end of March.

Some of the most valuable positions Suvretta Capital Management decided to drop during Q2 included its holdings in Alphabet Inc. (GOOG), Altaba Inc (AABA), and JPMorgan Chase & Co (JPM). Its position in Alphabet Inc. (GOOG) was formerly one of its largest, valued at $285.19 million on March 31, counting  276,400 shares. Suvretta also dumped investment company Altaba (consisting of former Yahoo! Inc. assets) during Q2, selling off the 3.13 million shares that it held on March 31.

Disclosure: None