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 |
eBay
EBAY
|
+$301M |
| 2 |
Zoetis
ZTS
|
+$232M |
| 3 |
CTRX
CATAMARAN CORP COM STK (CDA)
CTRX
|
+$189M |
| 4 |
CPN
Calpine Corporation
CPN
|
+$183M |
| 5 |
Bausch Health
BHC
|
+$179M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ESRX
Express Scripts Holding Company
ESRX
|
+$259M |
| 2 |
United Parcel Service
UPS
|
+$203M |
| 3 |
NetApp
NTAP
|
+$196M |
| 4 |
Apple
AAPL
|
+$177M |
| 5 |
Booking.com
BKNG
|
+$163M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.69% |
| 2 | Healthcare | 15.84% |
| 3 | Consumer Discretionary | 14.69% |
| 4 | Communication Services | 9.48% |
| 5 | Financials | 8.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Broadcom
AVGO
$1.75T
| $125M | 1.61% |
+23,585,120
| New | +$109M |
|
27
Radian Group
RDN
$4.84B
| $124M | 1.6% |
8,793,417
+5,283,803
| +151% | +$74M |
|
28
Baidu
BIDU
$31.6B
| $124M | 1.6% |
+695,399
| New | +$112M |
|
29
Fomento Económico Mexicano
FMX
$41.1B
| $111M | 1.43% |
1,132,038
+66,536
| +6% | +$6.26M |
|
30
AB InBev
BUD
$155B
| $109M | 1.41% |
1,027,240
+26,131
| +3% | +$2.67M |
|
31
Ambev
ABEV
$44.4B
| $106M | 1.36% |
+14,368,920
| New | +$105M |
|
|
YHOO
32
DELISTED
Yahoo Inc
YHOO
| $103M | 1.32% |
+2,535,407
| New | +$90.9M |
|
|
PARA
33
DELISTED
Paramount Global Class B
PARA
| $100M | 1.29% |
1,569,694
+649,186
| +71% | +$38.2M |
|
34
Fidelity National Information Services
FIS
$21.3B
| $98.8M | 1.28% |
1,840,004
-2,124,637
| -54% | -$105M |
|
35
MetLife
MET
$60B
| $98M | 1.27% |
2,039,740
-1,174,303
| -37% | -$52.6M |
|
36
Crown Castle
CCI
$32.1B
| $97.4M | 1.26% |
1,326,220
-1,150,369
| -46% | -$85.1M |
|
37
NVR
NVR
$16.9B
| $96.2M | 1.24% |
93,793
-141,237
| -60% | -$134M |
|
38
Autodesk
ADSK
$53.6B
| $95.1M | 1.23% |
1,890,588
-530,319
| -22% | -$23.2M |
|
39
Citigroup
C
$221B
| $94.3M | 1.22% |
1,810,000
+870,000
| +93% | +$44M |
|
40
MGIC Investment
MTG
$6.34B
| $87M | 1.12% |
10,313,710
+567,962
| +6% | +$4.53M |
|
41
Humana
HUM
$45.5B
| $86M | 1.11% |
+833,034
| New | +$81.6M |
|
|
CAM
42
DELISTED
CAMERON INTERNATIONAL CORPORATION
CAM
| $80.6M | 1.04% |
1,353,355
-1,629,366
| -55% | -$93.9M |
|
43
Cigna
CI
$73.3B
| $80.3M | 1.04% |
+917,549
| New | +$75.1M |
|
|
TMH
44
DELISTED
Team Health Holdings Inc
TMH
| $66.9M | 0.86% |
1,468,135
-1,339,416
| -48% | -$59.6M |
|
|
MON
45
DELISTED
Monsanto Co
MON
| $51.7M | 0.67% |
443,500
-41,000
| -8% | -$4.48M |
|
|
PNRA
46
DELISTED
Panera Bread Co
PNRA
| $49.6M | 0.64% |
+280,635
| New | +$47.1M |
|
|
TWC
47
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
| $47.6M | 0.62% |
+351,295
| New | +$43.6M |
|
48
Ulta Beauty
ULTA
$22.4B
| $43.3M | 0.56% |
+449,112
| New | +$52.7M |
|
|
VISN
49
Vistance Networks Inc
VISN
$2.59B
| $41.6M | 0.54% |
+2,195,254
| New | +$36.1M |
|
50
Intuitive Surgical
ISRG
$134B
| $35.1M | 0.45% |
+823,500
| New | +$34.6M |
|
Similar funds
Lee Ainslie's Q4 2013 Portfolio in Review
As of Q4 2013, Lee Ainslie held 82 positions worth $7.74B, up 4.8% from $7.38B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Lee Ainslie's Q4 2013 filing shows 19 new, 21 increased, 18 reduced and 18 closed positions. Its largest new stake was eBay: 13,608,338 shares worth $314M. The largest sale was Express Scripts Holding Company, an estimated $259M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 23% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Lee Ainslie's largest Q4 2013 buy was eBay: 13,608,338 shares worth $314M.
- Lee Ainslie added most to Zoetis in Q4 2013, an estimated $232M increase.
- Lee Ainslie's biggest Q4 2013 reduction was Booking.com, cutting an estimated $163M.
- Lee Ainslie fully exited Express Scripts Holding Company in Q4 2013, selling an estimated $259M.
- Lee Ainslie's ten largest holdings make up 35% of its $7.74B portfolio in Q4 2013.
- Lee Ainslie opened 19 new positions and closed 18 in Q4 2013.
- Lee Ainslie's portfolio value rose 4.8% quarter-over-quarter to $7.74B.
Based on Maverick Capital's 13F filing for Q4 2013, filed 14 Feb 2014.