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 |
Meta Platforms (Facebook)
META
|
+$227M |
| 2 |
Dollar Tree
DLTR
|
+$160M |
| 3 |
Amazon
AMZN
|
+$137M |
| 4 |
Air Products & Chemicals
APD
|
+$57.8M |
| 5 |
Lam Research
LRCX
|
+$57.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Corpay
CPAY
|
+$242M |
| 2 |
DuPont de Nemours
DD
|
+$228M |
| 3 |
Restaurant Brands International
QSR
|
+$185M |
| 4 |
VISN
Vistance Networks Inc
VISN
|
+$176M |
| 5 |
Alibaba
BABA
|
+$135M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 22.72% |
| 2 | Communication Services | 19.37% |
| 3 | Consumer Discretionary | 18.3% |
| 4 | Technology | 15.31% |
| 5 | Materials | 7.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
376
Avery Dennison
AVY
$13.9B
| $788K | 0.02% |
+6,903
| New | +$758K |
|
377
APA Corp
APA
$15.2B
| $777K | 0.02% |
+57,592
| New | +$657K |
|
378
Medifast
MED
$134M
| $777K | 0.02% |
+5,597
| New | +$514K |
|
379
UBS Group
UBS
$163B
| $775K | 0.02% |
+67,329
| New | +$693K |
|
380
Huntington Bancshares
HBAN
$34.4B
| $772K | 0.02% |
+85,449
| New | +$756K |
|
381
T. Rowe Price
TROW
$23.8B
| $770K | 0.02% |
+6,235
| New | +$711K |
|
|
XLNX
382
DELISTED
Xilinx Inc
XLNX
| $770K | 0.02% |
7,829
+6,661
| +570% | +$591K |
|
383
Best Buy
BBY
$18.1B
| $759K | 0.02% |
8,702
-89,682
| -91% | -$6.8M |
|
384
Canadian National Railway
CNI
$78.5B
| $755K | 0.02% |
+8,523
| New | +$709K |
|
385
DHT Holdings
DHT
$3.2B
| $752K | 0.02% |
146,637
-30,482
| -17% | -$194K |
|
386
Hubbell
HUBB
$24.8B
| $752K | 0.02% |
+5,999
| New | +$731K |
|
|
LM
387
DELISTED
Legg Mason, Inc.
LM
| $747K | 0.02% |
15,025
-12,559
| -46% | -$624K |
|
|
BNY
388
Bank of New York Mellon
BNY
$108B
| $746K | 0.02% |
19,308
-23,222
| -55% | -$850K |
|
389
Ingles Markets
IMKTA
$1.61B
| $745K | 0.02% |
17,288
-31,885
| -65% | -$1.29M |
|
390
Fastenal
FAST
$58.8B
| $744K | 0.02% |
+34,746
| New | +$664K |
|
391
Diamondback Energy
FANG
$59B
| $742K | 0.02% |
+17,748
| New | +$725K |
|
392
Signet Jewelers
SIG
$3.16B
| $742K | 0.02% |
72,287
-567,697
| -89% | -$5.61M |
|
393
Seagate
STX
$193B
| $737K | 0.02% |
+15,232
| New | +$764K |
|
394
SEI Investments
SEIC
$13.1B
| $732K | 0.02% |
13,305
-5,379
| -29% | -$281K |
|
395
Fortive
FTV
$18.1B
| $724K | 0.02% |
+16,968
| New | +$662K |
|
396
Brady Corp
BRC
$4.3B
| $723K | 0.02% |
+15,448
| New | +$710K |
|
397
EOG Resources
EOG
$80.3B
| $723K | 0.02% |
14,271
+11,649
| +444% | +$565K |
|
398
JD.com
JD
$39.7B
| $717K | 0.02% |
+11,916
| New | +$603K |
|
399
Axalta
AXTA
$7.75B
| $716K | 0.02% |
31,741
-184,278
| -85% | -$3.77M |
|
400
Targa Resources
TRGP
$64.1B
| $715K | 0.02% |
+35,609
| New | +$535K |
|
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Lee Ainslie's Q2 2020 Portfolio in Review
As of Q2 2020, Lee Ainslie held 731 positions worth $4.75B, up 0.4% from $4.74B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Lee Ainslie withdrew a net $1.26B in Q2 2020, closing 168 positions and reducing 190 holdings. Its most notable exit was Restaurant Brands International, an estimated $185M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 23% of assets, up from 21% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Lee Ainslie opened a new position in American Express worth $59M.
- Lee Ainslie's largest Q2 2020 buy was American Express: 619,428 shares worth $59M.
- Lee Ainslie added most to Meta Platforms (Facebook) in Q2 2020, an estimated $227M increase.
- Lee Ainslie's biggest Q2 2020 reduction was Corpay, cutting an estimated $242M.
- Lee Ainslie fully exited Restaurant Brands International in Q2 2020, selling an estimated $185M.
- Lee Ainslie's ten largest holdings make up 53% of its $4.75B portfolio in Q2 2020.
- Lee Ainslie opened 265 new positions and closed 168 in Q2 2020.
- Lee Ainslie's portfolio value rose 0.4% quarter-over-quarter to $4.75B.
Based on Maverick Capital's 13F filing for Q2 2020, filed 14 Aug 2020.