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 | |
|---|---|---|---|---|---|---|
251
Burlington
BURL
$20.6B
| – | – |
-75,630
| Closed | -$10.1M |
|
252
Avis
CAR
$5.18B
| – | – |
-786,320
| Closed | -$36.8M |
|
253
Colgate-Palmolive
CL
$72.6B
| – | – |
-36,820
| Closed | -$2.64M |
|
254
Community Health Systems
CYH
$424M
| – | – |
-248,450
| Closed | -$984K |
|
255
Domino's
DPZ
$11.3B
| – | – |
-105,740
| Closed | -$24.7M |
|
256
DaVita
DVA
$11.1B
| – | – |
-130,580
| Closed | -$8.61M |
|
257
Brinker International
EAT
$10.6B
| – | – |
-633,380
| Closed | -$22.9M |
|
258
Energizer
ENR
$1.47B
| – | – |
-43,690
| Closed | -$2.6M |
|
259
Etsy
ETSY
$7.44B
| – | – |
-863,250
| Closed | -$24.2M |
|
260
Freeport-McMoran
FCX
$110B
| – | – |
-196,790
| Closed | -$3.46M |
|
261
Five Below
FIVE
$13.8B
| – | – |
-306,840
| Closed | -$22.5M |
|
|
FL
262
DELISTED
Foot Locker
FL
| – | – |
-413,337
| Closed | -$18.8M |
|
263
Fossil Group
FOSL
$332M
| – | – |
-516,939
| Closed | -$6.57M |
|
264
General Dynamics
GD
$104B
| – | – |
-9,430
| Closed | -$2.08M |
|
265
General Motors
GM
$77.2B
| – | – |
-99,140
| Closed | -$3.6M |
|
266
GameStop
GME
$8.17B
| – | – |
-647,440
| Closed | -$2.04M |
|
267
W.W. Grainger
GWW
$61.8B
| – | – |
-36,140
| Closed | -$10.2M |
|
268
HCA Healthcare
HCA
$92.9B
| – | – |
-13,570
| Closed | -$1.32M |
|
269
Ingredion
INGR
$6.74B
| – | – |
-17,410
| Closed | -$2.24M |
|
270
International Paper
IP
$22B
| – | – |
-49,664
| Closed | -$2.51M |
|
271
Jack in the Box
JACK
$331M
| – | – |
-20,970
| Closed | -$1.79M |
|
272
Las Vegas Sands
LVS
$30.5B
| – | – |
-886,310
| Closed | -$63.7M |
|
273
Medifast
MED
$134M
| – | – |
-37,160
| Closed | -$3.47M |
|
274
Mercado Libre
MELI
$97.5B
| – | – |
-26,130
| Closed | -$9.31M |
|
275
MGM Resorts International
MGM
$11B
| – | – |
-2,240,443
| Closed | -$78.5M |
|
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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.