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Lee Ainslie Maverick Capital

AUM $11.3B
1-Year Est. Return 76.6%
 

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.

This Fund
S&P 500
This Quarter Est. Return
+7.71%
1 Year Est. Return
+76.6%
3 Year Est. Return
+266.43%
5 Year Est. Return
+219.63%
10 Year Est. Return
+601.38%
AUM
$8.04B
AUM Growth
-$516M
Cap. Flow
-$920M
Cap. Flow %
-11.45%
Top 10 Hldgs %
41.16%
Holding
303
New
68
Increased
72
Reduced
95
Closed
65

Top Buys

Rank Stock Value
1
LRCX icon
Lam Research
LRCX
+$268M
2
DXC icon
DXC Technology
DXC
+$265M
3
ELV icon
Elevance Health
ELV
+$262M
4
BIDU icon
Baidu
BIDU
+$195M
5
STZ icon
Constellation Brands
STZ
+$131M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$483M
2
META icon
Meta Platforms (Facebook)
META
+$439M
3
DLTR icon
Dollar Tree
DLTR
+$362M
4
EVHC
Envision Healthcare Holdings Inc
EVHC
+$297M
5
MHK icon
Mohawk Industries
MHK
+$257M

Sector Composition

Rank Sector Weight
1 Technology 27.07%
2 Healthcare 17.51%
3 Communication Services 16.54%
4 Consumer Discretionary 15.49%
5 Financials 7.94%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DLTR icon
251
Dollar Tree
DLTR
$25.3B
– –
-4,254,654
Closed -$362M
EMN icon
252
Eastman Chemical
EMN
$8.47B
– –
-53,750
Closed -$5.37M
ENTG icon
253
Entegris
ENTG
$22B
– –
-200,180
Closed -$6.79M
EVR icon
254
Evercore
EVR
$11.2B
– –
-90,290
Closed -$9.52M
FFIV icon
255
F5
FFIV
$21.8B
– –
-47,580
Closed -$8.21M
GPC icon
256
Genuine Parts
GPC
$18.5B
– –
-165,209
Closed -$15.2M
GRMN
257
Garmin
GRMN
$56.9B
– –
-108,920
Closed -$6.64M
GWRE icon
258
Guidewire Software
GWRE
$15.8B
– –
-24,730
Closed -$2.2M
HD icon
259
Home Depot
HD
$335B
– –
-186,780
Closed -$36.4M
HUN icon
260
Huntsman Corp
HUN
$1.75B
– –
-131,850
Closed -$3.85M
INTU icon
261
Intuit
INTU
$100B
– –
-9,870
Closed -$2.02M
ISRG icon
262
Intuitive Surgical
ISRG
$134B
– –
-66,030
Closed -$10.5M
KMB icon
263
Kimberly-Clark
KMB
$36.4B
– –
-29,350
Closed -$3.09M
LPX icon
264
Louisiana-Pacific
LPX
$5.12B
– –
-80,330
Closed -$2.19M
LYB icon
265
LyondellBasell Industries
LYB
$21.8B
– –
-40,240
Closed -$4.42M
MMM icon
266
3M
MMM
$92.3B
– –
-13,515
Closed -$2.22M
MSGS icon
267
Madison Square Garden
MSGS
$9.78B
– –
-34,573
Closed -$7.65M
MTB icon
268
M&T Bank
MTB
$34.7B
– –
-46,900
Closed -$7.98M
NAVI icon
269
Navient
NAVI
$886M
– –
-508,340
Closed -$6.62M
NVDA icon
270
NVIDIA
NVDA
$5.2T
– –
-1,711,200
Closed -$10.1M
OLN icon
271
Olin
OLN
$2.1B
– –
-77,790
Closed -$2.23M
ON icon
272
ON Semiconductor
ON
$28.9B
– –
-369,130
Closed -$8.21M
PATK icon
273
Patrick Industries
PATK
$2.68B
– –
-33,420
Closed -$1.27M
PETS icon
274
PetMed Express
PETS
$38.2M
– –
-5,525
Closed -$243K
PII icon
275
Polaris
PII
$3.66B
– –
-50,570
Closed -$6.18M
9 10
11
12 13

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Lee Ainslie's Q3 2018 Portfolio in Review

As of Q3 2018, Lee Ainslie held 303 positions worth $8.04B, down 6% from $8.55B the previous quarter. Its ten largest holdings account for 41% of the portfolio.

Lee Ainslie withdrew a net $920M in Q3 2018, closing 65 positions and reducing 95 holdings. Its most notable exit was Dollar Tree, an estimated $362M position sold in full.

By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 19% a quarter earlier, followed by Healthcare and Communication Services.

Against the trend, Lee Ainslie opened a new position in Constellation Brands worth $133M.

  • Lee Ainslie's largest Q3 2018 buy was Constellation Brands: 616,427 shares worth $133M.
  • Lee Ainslie added most to Lam Research in Q3 2018, an estimated $268M increase.
  • Lee Ainslie's biggest Q3 2018 reduction was Alphabet (Google) Class C, cutting an estimated $483M.
  • Lee Ainslie fully exited Dollar Tree in Q3 2018, selling an estimated $362M.
  • Lee Ainslie's ten largest holdings make up 41% of its $8.04B portfolio in Q3 2018.
  • Lee Ainslie opened 68 new positions and closed 65 in Q3 2018.
  • Lee Ainslie's portfolio value fell 6% quarter-over-quarter to $8.04B.

Based on Maverick Capital's 13F filing for Q3 2018, filed 14 Nov 2018.