Lee Ainslie Maverick Capital
Lee Ainslie is the founder of Maverick Capital, a long/short equity firm that emerged from the Tiger Management network of investors. Maverick is known for fundamental research, sector specialization among teams, and a classic hedge fund long/short structure. Ainslie’s firm remains a reference name among so-called Tiger Cub managers.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Intel
INTC
|
+$275M |
| 2 |
Mohawk Industries
MHK
|
+$273M |
| 3 |
Alibaba
BABA
|
+$138M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$127M |
| 5 |
Lowe's Companies
LOW
|
+$102M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ANDV
Andeavor
ANDV
|
+$249M |
| 2 |
DXC Technology
DXC
|
+$236M |
| 3 |
MGM Resorts International
MGM
|
+$233M |
| 4 |
Adobe
ADBE
|
+$225M |
| 5 |
Molson Coors Class B
TAP
|
+$212M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 21.88% |
| 2 | Healthcare | 18.86% |
| 3 | Communication Services | 17.55% |
| 4 | Technology | 17.49% |
| 5 | Financials | 7.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Blackbaud
BLKB
$2.16B
| – | – |
-61,930
| Closed | -$5.85M |
|
227
Casey's General Stores
CASY
$30.9B
| – | – |
-138,810
| Closed | -$15.5M |
|
228
Cracker Barrel
CBRL
$1.29B
| – | – |
-10,062
| Closed | -$1.6M |
|
229
Chemours
CC
$2.4B
| – | – |
-102,860
| Closed | -$5.15M |
|
230
Chipotle Mexican Grill
CMG
$46.7B
| – | – |
-1,575,000
| Closed | -$9.1M |
|
|
VISN
231
Vistance Networks Inc
VISN
$2.59B
| – | – |
-2,006,180
| Closed | -$75.9M |
|
232
Dollar General
DG
$27.2B
| – | – |
-218,840
| Closed | -$20.4M |
|
233
Darden Restaurants
DRI
$25.2B
| – | – |
-111,760
| Closed | -$10.7M |
|
234
Fidelity National Financial
FNF
$12.7B
| – | – |
-176,686
| Closed | -$6.67M |
|
235
Goldman Sachs
GS
$303B
| – | – |
-29,200
| Closed | -$7.44M |
|
236
Hasbro
HAS
$13.2B
| – | – |
-74,060
| Closed | -$6.73M |
|
237
Huntsman Corp
HUN
$1.75B
| – | – |
-196,890
| Closed | -$6.55M |
|
238
Ingles Markets
IMKTA
$1.61B
| – | – |
-16,868
| Closed | -$584K |
|
239
KLA
KLAC
$240B
| – | – |
-876,700
| Closed | -$9.21M |
|
240
Strategy Inc
MSTR
$47.4B
| – | – |
-7,170
| Closed | -$94K |
|
241
Oracle
ORCL
$422B
| – | – |
-179,850
| Closed | -$8.5M |
|
242
Petrobras
PBR
$123B
| – | – |
-541,850
| Closed | -$5.58M |
|
243
PetMed Express
PETS
$38.2M
| – | – |
-95,653
| Closed | -$4.35M |
|
244
Primerica
PRI
$9.1B
| – | – |
-65,221
| Closed | -$6.62M |
|
245
PayPal
PYPL
$52.7B
| – | – |
-21,450
| Closed | -$1.58M |
|
246
Restaurant Brands International
QSR
$28.2B
| – | – |
-61,949
| Closed | -$3.81M |
|
247
Ferrari
RACE
$76.7B
| – | – |
-56,960
| Closed | -$5.97M |
|
248
Sabre
SABR
$848M
| – | – |
-4,541,121
| Closed | -$93.1M |
|
249
Shake Shack
SHAK
$3.06B
| – | – |
-175,943
| Closed | -$7.6M |
|
250
Sherwin-Williams
SHW
$84.1B
| – | – |
-14,235
| Closed | -$1.95M |
|
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Lee Ainslie's Q1 2018 Portfolio in Review
As of Q1 2018, Lee Ainslie held 272 positions worth $7.75B, down 2.2% from $7.92B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Lee Ainslie withdrew a net $306M in Q1 2018, closing 54 positions and reducing 29 holdings. Its most notable exit was Andeavor, an estimated $249M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 15% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Lee Ainslie opened a new position in Mohawk Industries worth $246M.
- Lee Ainslie's largest Q1 2018 buy was Mohawk Industries: 1,058,922 shares worth $246M.
- Lee Ainslie added most to Intel in Q1 2018, an estimated $275M increase.
- Lee Ainslie's biggest Q1 2018 reduction was DXC Technology, cutting an estimated $236M.
- Lee Ainslie fully exited Andeavor in Q1 2018, selling an estimated $249M.
- Lee Ainslie's ten largest holdings make up 47% of its $7.75B portfolio in Q1 2018.
- Lee Ainslie opened 97 new positions and closed 54 in Q1 2018.
- Lee Ainslie's portfolio value fell 2.2% quarter-over-quarter to $7.75B.
Based on Maverick Capital's 13F filing for Q1 2018, filed 15 May 2018.