Montanova Capital, Llc
- Regulatory AUM
- $7.9B
- Discretionary
- $7.9B
- Clients
- 10
- Avg AUM / client
- $787M
- Accounts
- 10
- Employees
- 23
AUM over time
Annual snapshots from Form ADV filings · as of Jul 01, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 10 | $7.9B | 100.0% |
Private funds (4)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $4.5B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Averill Master Fund, Ltd. master | Hedge Fund | Cayman Islands | $2.9B | 279 |
| Suvretta Master Fund, Ltd. master | Hedge Fund | Cayman Islands | $1.3B | 412 |
| Averill Madison Master Fund, Ltd. master | Hedge Fund | Cayman Islands | $316M | 12 |
| Averill Opportunities Offshore Fund I, Lp master | Venture Capital Fund | Cayman Islands | $7.4M | 39 |
People (3)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Cowen, Aaron, Leonard | Chief Executive Officer | Sep 2011 (15y) | ≈ 56.25% – 100% via Suvretta Capital, Lp | |
| Shepard, Glenn, Michael | Chief Financial Officer | Sep 2011 (15y) | Less than 5% | |
| Nathanson, Andrew, Jon | General Counsel & Chief Compliance Officer | Mar 2014 (12y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Suvretta Capital, Lp | Member | Jan 2017 | A | 75% or more |
| Suvretta Capital Gp, Llc | General Partner | Jan 2017 | B | GP / trustee / elected manager of Suvretta Capital, Lp (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Cowen, Aaron, Leonard: 75% – 100% of Suvretta Capital, Lp × 75% – 100% direct ≈ 56.25% – 100% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (4, $4.5B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Averill Master Fund, Ltd. | Hedge Fund | $2.9B | $1.0M | 279 |
| Suvretta Master Fund, Ltd. | Hedge Fund | $1.3B | $1.0M | 412 |
| Averill Madison Master Fund, Ltd. | Hedge Fund | $316M | $1.0M | 12 |
| Averill Opportunities Offshore Fund I, Lp | Venture Capital Fund | $7.4M | $1.0M | 39 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 07/01/2026 | 2.01 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Allegations: SFSA ALLEGED THAT THE ADVISER FAILED TO SUBMIT A NET SHORT FILING WITH RESPECT TO A SWEDISH ISSUER IN ACCORDANCE WITH THE NEXT DAY FILING OBLIGATION PRESCRIBED BY SFSA REGULATIONS. Status: Final Sanction Detail: THE PENALTY OF SEK 25,000 (APPROXIMATELY $2,908) WAS PAID TO THE SFSA UPON RECEIPT OF PAYMENT DETAILS. Summary: THE SFSA DECIDED TO IMPOSE A PENALTY AGAINST THE ADVISER OF $2,908 FOR FAILURE TO REPORT A NET SHORT POSITION WITHIN THE TIME LIMIT PRESCRIBED BY SWEDISH FINANCIAL AND SECURITIES LAWS. THE ADVISER SUBSEQUENTLY SELF-REPORTED TO THE SFSA THE NET SHORT POSITION IN THE SHARES OF THE SWEDISH ISSUER. THE SFSA DECISION BECAME BINDING ON NOVEMBER 18, 2020. NO FURTHER ACTION BY THE ADVISER IS ANTICIPATED OR REQUIRED FOR THE DISPOSITION OF THIS MATTER.
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Firm reports it does not have custody of client funds or securities (Item 9.A).
No custodian data reported or mined yet.
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jul 01, 2026.
View current Form ADV (SEC/IAPD) ↗