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 |
Restaurant Brands International
QSR
|
+$236M |
| 2 |
Corpay
CPAY
|
+$186M |
| 3 |
Humana
HUM
|
+$160M |
| 4 |
DuPont de Nemours
DD
|
+$147M |
| 5 |
ONEM
1Life Healthcare
ONEM
|
+$131M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Monster Beverage
MNST
|
+$341M |
| 2 |
MDCO
Medicines Co
MDCO
|
+$185M |
| 3 |
Westlake Corp
WLK
|
+$162M |
| 4 |
T-Mobile US
TMUS
|
+$153M |
| 5 |
Centene
CNC
|
+$149M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 23.18% |
| 2 | Technology | 22.82% |
| 3 | Healthcare | 21.03% |
| 4 | Communication Services | 13.36% |
| 5 | Materials | 8.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
326
Honda
HMC
$43.3B
| $913K | 0.02% |
+40,641
| New | +$1.04M |
|
327
Acuity Brands
AYI
$10.3B
| $910K | 0.02% |
+10,618
| New | +$1.16M |
|
328
Antero Resources
AR
$11.7B
| $907K | 0.02% |
1,272,170
-819,965
| -39% | -$1.37M |
|
329
Avient
AVNT
$4.1B
| $900K | 0.02% |
+47,464
| New | +$1.33M |
|
330
Universal Display
OLED
$3.95B
| $900K | 0.02% |
6,829
-2,871
| -30% | -$494K |
|
331
Target
TGT
$75.1B
| $898K | 0.02% |
+9,654
| New | +$1.07M |
|
332
Fossil Group
FOSL
$332M
| $883K | 0.02% |
268,539
+246,768
| +1,133% | +$1.45M |
|
|
CSPR
333
DELISTED
Casper Sleep Inc.
CSPR
| $868K | 0.02% |
+202,395
| New | +$1.52M |
|
334
SEI Investments
SEIC
$13.1B
| $866K | 0.02% |
+18,684
| New | +$1.11M |
|
335
Sabre
SABR
$848M
| $857K | 0.02% |
144,571
+42,584
| +42% | +$712K |
|
336
Iridium Communications
IRDM
$5.19B
| $854K | 0.02% |
+38,266
| New | +$991K |
|
337
InterDigital
IDCC
$8.84B
| $849K | 0.02% |
+19,034
| New | +$1M |
|
338
Bright Horizons
BFAM
$3.54B
| $844K | 0.02% |
+8,279
| New | +$1.22M |
|
339
Clean Harbors
CLH
$16.7B
| $844K | 0.02% |
+16,436
| New | +$1.2M |
|
340
Match Group
MTCH
$9.38B
| $832K | 0.02% |
+12,602
| New | +$926K |
|
341
Zurn Elkay Water Solutions
ZWS
$8.13B
| $818K | 0.02% |
+74,867
| New | +$1.09M |
|
342
Mercury Systems
MRCY
$5.49B
| $811K | 0.02% |
11,369
-12,739
| -53% | -$965K |
|
343
D.R. Horton
DHI
$41.5B
| $809K | 0.02% |
+23,803
| New | +$1.24M |
|
344
AutoNation
AN
$6.6B
| $804K | 0.02% |
+28,644
| New | +$1.18M |
|
345
AngloGold Ashanti
AU
$61.3B
| $802K | 0.02% |
+48,209
| New | +$946K |
|
346
First American
FAF
$7.33B
| $788K | 0.02% |
+18,577
| New | +$1.06M |
|
|
CIT
347
DELISTED
CIT Group Inc.
CIT
| $778K | 0.02% |
45,055
-45,965
| -50% | -$1.74M |
|
348
Corning
GLW
$129B
| $776K | 0.02% |
37,761
-102,234
| -73% | -$2.67M |
|
|
I
349
DELISTED
INTELSAT S. A.
I
| $765K | 0.02% |
499,987
-176,073
| -26% | -$738K |
|
350
MGM Resorts International
MGM
$11B
| $763K | 0.02% |
64,620
-46,662
| -42% | -$1.2M |
|
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Lee Ainslie's Q1 2020 Portfolio in Review
As of Q1 2020, Lee Ainslie held 565 positions worth $4.74B, down 31% from $6.87B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Lee Ainslie withdrew a net $525M in Q1 2020, closing 99 positions and reducing 138 holdings. Its most notable exit was Medicines Co, an estimated $185M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, up from 18% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Lee Ainslie opened a new position in 1Life Healthcare worth $101M.
- Lee Ainslie's largest Q1 2020 buy was 1Life Healthcare: 5,955,185 shares worth $101M.
- Lee Ainslie added most to Restaurant Brands International in Q1 2020, an estimated $236M increase.
- Lee Ainslie's biggest Q1 2020 reduction was Monster Beverage, cutting an estimated $341M.
- Lee Ainslie fully exited Medicines Co in Q1 2020, selling an estimated $185M.
- Lee Ainslie's ten largest holdings make up 49% of its $4.74B portfolio in Q1 2020.
- Lee Ainslie opened 228 new positions and closed 99 in Q1 2020.
- Lee Ainslie's portfolio value fell 31% quarter-over-quarter to $4.74B.
Based on Maverick Capital's 13F filing for Q1 2020, filed 15 May 2020.