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 | |
|---|---|---|---|---|---|---|
276
Monster Beverage
MNST
$93.6B
| – | – |
-628,440
| Closed | -$8.99M |
|
277
Netflix
NFLX
$331B
| – | – |
-563,100
| Closed | -$16.6M |
|
278
Nike
NKE
$60.5B
| – | – |
-294,250
| Closed | -$19.6M |
|
279
Orion
OEC
$346M
| – | – |
-333,100
| Closed | -$9.03M |
|
280
Ollie's Bargain Outlet
OLLI
$4.6B
| – | – |
-330,490
| Closed | -$19.9M |
|
281
Bank OZK
OZK
$5.39B
| – | – |
-84,280
| Closed | -$4.07M |
|
282
PENN Entertainment
PENN
$2.5B
| – | – |
-278,150
| Closed | -$7.3M |
|
283
Procter & Gamble
PG
$336B
| – | – |
-19,950
| Closed | -$1.58M |
|
284
Planet Fitness
PLNT
$4.09B
| – | – |
-95,220
| Closed | -$3.6M |
|
285
Philip Morris
PM
$293B
| – | – |
-731,009
| Closed | -$72.7M |
|
286
Protolabs
PRLB
$1.9B
| – | – |
-86,800
| Closed | -$10.2M |
|
287
Royal Caribbean
RCL
$78.1B
| – | – |
-70,840
| Closed | -$8.34M |
|
288
Red Robin
RRGB
$189M
| – | – |
-78,170
| Closed | -$4.53M |
|
|
SEM
289
DELISTED
Select Medical
SEM
| – | – |
-10,394
| Closed | -$97K |
|
290
Sprouts Farmers Market
SFM
$7.56B
| – | – |
-472,550
| Closed | -$11.1M |
|
291
Signet Jewelers
SIG
$3.16B
| – | – |
-7,310
| Closed | -$282K |
|
292
Snap
SNAP
$8.86B
| – | – |
-5,075,029
| Closed | -$80.5M |
|
|
293
Molson Coors Class B
TAP
$8.01B
| – | – |
-1,081,747
| Closed | -$81.5M |
|
294
Tenet Healthcare
THC
$22.6B
| – | – |
-72,680
| Closed | -$1.76M |
|
|
THS
295
DELISTED
Treehouse Foods
THS
| – | – |
-26,260
| Closed | -$1M |
|
296
Toro Company
TTC
$9.47B
| – | – |
-16,750
| Closed | -$1.05M |
|
297
Take-Two Interactive
TTWO
$44.8B
| – | – |
-112,010
| Closed | -$11M |
|
298
Under Armour Class C
UA
$2.25B
| – | – |
-161,020
| Closed | -$2.31M |
|
299
Waters Corp
WAT
$40.4B
| – | – |
-55,500
| Closed | -$11M |
|
300
Wingstop
WING
$3.14B
| – | – |
-626,500
| Closed | -$29.6M |
|
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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.