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 |
Monster Beverage
MNST
|
+$179M |
| 2 |
DXC Technology
DXC
|
+$158M |
| 3 |
Netflix
NFLX
|
+$143M |
| 4 |
Westlake Corp
WLK
|
+$128M |
| 5 |
DuPont de Nemours
DD
|
+$106M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Humana
HUM
|
+$194M |
| 2 |
Corteva
CTVA
|
+$97.9M |
| 3 |
Lowe's Companies
LOW
|
+$92.4M |
| 4 |
Alnylam Pharmaceuticals
ALNY
|
+$80.2M |
| 5 |
IAA
IAA, Inc. Common Stock
IAA
|
+$79.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 22.05% |
| 2 | Technology | 20.48% |
| 3 | Healthcare | 18.09% |
| 4 | Communication Services | 13.83% |
| 5 | Materials | 10.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
351
Dollar General
DG
$27.2B
| – | – |
-529
| Closed | -$71K |
|
352
Darden Restaurants
DRI
$25.2B
| – | – |
-129,120
| Closed | -$15.7M |
|
353
Eastman Chemical
EMN
$8.47B
| – | – |
-2,020
| Closed | -$157K |
|
354
Ethan Allen Interiors
ETD
$595M
| – | – |
-215,845
| Closed | -$4.55M |
|
355
Eaton
ETN
$163B
| – | – |
-34,990
| Closed | -$2.91M |
|
356
Eagle Materials
EXP
$6.35B
| – | – |
-410,262
| Closed | -$38M |
|
357
Fastenal
FAST
$58.8B
| – | – |
-411,440
| Closed | -$6.7M |
|
358
Genworth Financial
GNW
$3.73B
| – | – |
-1,608,910
| Closed | -$5.97M |
|
359
Goodyear
GT
$1.72B
| – | – |
-788,590
| Closed | -$12.1M |
|
360
Gray Television
GTN
$509M
| – | – |
-252,690
| Closed | -$4.14M |
|
361
Haemonetics
HAE
$4.95B
| – | – |
-89,560
| Closed | -$10.8M |
|
362
Hasbro
HAS
$13.2B
| – | – |
-75,130
| Closed | -$7.94M |
|
363
Warrior Met Coal
HCC
$5.64B
| – | – |
-234,220
| Closed | -$6.12M |
|
364
Hershey
HSY
$37.5B
| – | – |
-27,910
| Closed | -$3.74M |
|
365
Huntsman Corp
HUN
$1.75B
| – | – |
-277,770
| Closed | -$5.68M |
|
366
IBM
IBM
$222B
| – | – |
-15,564
| Closed | -$2.05M |
|
367
Jack in the Box
JACK
$331M
| – | – |
-204,390
| Closed | -$16.6M |
|
368
Jabil
JBL
$32.8B
| – | – |
-46,530
| Closed | -$1.47M |
|
369
J&J Snack Foods
JJSF
$1.64B
| – | – |
-5,190
| Closed | -$835K |
|
370
Kraft Heinz
KHC
$30.3B
| – | – |
-121,900
| Closed | -$3.78M |
|
371
Kroger
KR
$35.5B
| – | – |
-42,210
| Closed | -$916K |
|
372
Lumentum
LITE
$77.7B
| – | – |
-281,158
| Closed | -$15M |
|
373
LivaNova
LIVN
$4.34B
| – | – |
-71,240
| Closed | -$5.13M |
|
374
Lockheed Martin
LMT
$130B
| – | – |
-5,390
| Closed | -$1.96M |
|
375
Macy's
M
$6B
| – | – |
-752,610
| Closed | -$16.2M |
|
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Lee Ainslie's Q3 2019 Portfolio in Review
As of Q3 2019, Lee Ainslie held 426 positions worth $6.8B, down 1.4% from $6.9B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Lee Ainslie's Q3 2019 filing shows 145 new, 86 increased, 98 reduced and 93 closed positions. Its largest new stake was Hilton Worldwide: 676,490 shares worth $63M. The largest sale was Humana, an estimated $194M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, down from 26% a quarter earlier, followed by Technology and Healthcare.
- Lee Ainslie's largest Q3 2019 buy was Hilton Worldwide: 676,490 shares worth $63M.
- Lee Ainslie added most to Monster Beverage in Q3 2019, an estimated $179M increase.
- Lee Ainslie's biggest Q3 2019 reduction was Humana, cutting an estimated $194M.
- Lee Ainslie fully exited Corteva in Q3 2019, selling an estimated $97.9M.
- Lee Ainslie's ten largest holdings make up 45% of its $6.8B portfolio in Q3 2019.
- Lee Ainslie opened 145 new positions and closed 93 in Q3 2019.
- Lee Ainslie's portfolio value fell 1.4% quarter-over-quarter to $6.8B.
Based on Maverick Capital's 13F filing for Q3 2019, filed 14 Nov 2019.