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 |
Dollar Tree
DLTR
|
+$376M |
| 2 |
Walt Disney
DIS
|
+$372M |
| 3 |
Mastercard
MA
|
+$204M |
| 4 |
Mohawk Industries
MHK
|
+$93.9M |
| 5 |
T-Mobile US
TMUS
|
+$91.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Visa
V
|
+$223M |
| 2 |
Universal Health Services
UHS
|
+$120M |
| 3 |
Meta Platforms (Facebook)
META
|
+$111M |
| 4 |
EVHC
Envision Healthcare Holdings Inc
EVHC
|
+$110M |
| 5 |
Molson Coors Class B
TAP
|
+$81.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 21.29% |
| 2 | Technology | 18.75% |
| 3 | Consumer Discretionary | 18.68% |
| 4 | Healthcare | 16.13% |
| 5 | Consumer Staples | 8.3% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Caleres
CAL
$457M
| $810K | 0.01% |
+23,540
| New | +$810K |
|
227
Crocs
CROX
$5.85B
| $789K | 0.01% |
44,830
-182,300
| -80% | -$3.1M |
|
|
DF
228
DELISTED
Dean Foods Company
DF
| $662K | 0.01% |
+62,970
| New | +$595K |
|
229
Sherwin-Williams
SHW
$84.1B
| $620K | 0.01% |
+4,560
| New | +$590K |
|
230
Darden Restaurants
DRI
$25.2B
| $410K | ﹤0.01% |
+3,830
| New | +$351K |
|
231
PetMed Express
PETS
$38.2M
| $243K | ﹤0.01% |
+5,525
| New | +$214K |
|
|
WW
232
DELISTED
WW International
WW
| $221K | ﹤0.01% |
2,186
-444,001
| -100% | -$34.9M |
|
233
Wendy's
WEN
$1.72B
| $181K | ﹤0.01% |
10,540
-817,970
| -99% | -$13.9M |
|
234
VF Corp
VFC
$5.65B
| $143K | ﹤0.01% |
1,859
-371,774
| -100% | -$28M |
|
|
RUTH
235
DELISTED
Ruth's Hospitality Group, Inc.
RUTH
| $105K | ﹤0.01% |
+3,760
| New | +$101K |
|
236
Alcoa
AA
$13.7B
| – | – |
-263,070
| Closed | -$11.8M |
|
237
Agilent Technologies
A
$44.9B
| – | – |
-30,520
| Closed | -$2.04M |
|
238
Acadia Healthcare
ACHC
$2.59B
| – | – |
-31,100
| Closed | -$1.22M |
|
239
Allstate
ALL
$64.2B
| – | – |
-104,830
| Closed | -$9.94M |
|
240
Air Products & Chemicals
APD
$67.9B
| – | – |
-12,330
| Closed | -$1.96M |
|
241
Atkore
ATKR
$3.16B
| – | – |
-132,332
| Closed | -$2.63M |
|
242
Axalta
AXTA
$7.75B
| – | – |
-59,840
| Closed | -$1.81M |
|
243
Acuity Brands
AYI
$10.3B
| – | – |
-61,870
| Closed | -$8.61M |
|
244
BlackBerry
BB
$4.71B
| – | – |
-580,130
| Closed | -$6.67M |
|
245
Best Buy
BBY
$18.1B
| – | – |
-43,330
| Closed | -$3.03M |
|
246
Bright Horizons
BFAM
$3.54B
| – | – |
-25,350
| Closed | -$2.53M |
|
247
Bunge Global
BG
$21.7B
| – | – |
-34,270
| Closed | -$2.53M |
|
248
Bloomin' Brands
BLMN
$996M
| – | – |
-601,381
| Closed | -$14.6M |
|
249
Boot Barn
BOOT
$5.01B
| – | – |
-66,052
| Closed | -$1.17M |
|
250
Boston Scientific
BSX
$73B
| – | – |
-71,740
| Closed | -$1.96M |
|
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Lee Ainslie's Q2 2018 Portfolio in Review
As of Q2 2018, Lee Ainslie held 315 positions worth $8.55B, up 10% from $7.75B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Lee Ainslie deployed $387M of net new capital in Q2 2018, opening 97 new positions and adding to 49 existing holdings. Its largest new stake was Walt Disney: 3,640,348 shares worth $382M.
By sector, the portfolio is most concentrated in Communication Services at 21% of assets, up from 18% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Visa, an estimated $223M trimmed.
- Lee Ainslie's largest Q2 2018 buy was Walt Disney: 3,640,348 shares worth $382M.
- Lee Ainslie added most to Dollar Tree in Q2 2018, an estimated $376M increase.
- Lee Ainslie's biggest Q2 2018 reduction was Visa, cutting an estimated $223M.
- Lee Ainslie fully exited Molson Coors Class B in Q2 2018, selling an estimated $81.5M.
- Lee Ainslie's ten largest holdings make up 43% of its $8.55B portfolio in Q2 2018.
- Lee Ainslie opened 97 new positions and closed 80 in Q2 2018.
- Lee Ainslie's portfolio value rose 10% quarter-over-quarter to $8.55B.
Based on Maverick Capital's 13F filing for Q2 2018, filed 14 Aug 2018.