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 |
Alphabet (Google) Class C
GOOG
|
+$355M |
| 2 |
VISN
Vistance Networks Inc
VISN
|
+$158M |
| 3 |
Halliburton
HAL
|
+$141M |
| 4 |
Vulcan Materials
VMC
|
+$138M |
| 5 |
Booking.com
BKNG
|
+$125M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AbbVie
ABBV
|
+$273M |
| 2 |
Alibaba
BABA
|
+$200M |
| 3 |
TFCFA
Twenty-First Century Fox, Inc. Class A
TFCFA
|
+$181M |
| 4 |
Cognizant
CTSH
|
+$151M |
| 5 |
Adobe
ADBE
|
+$146M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 20.18% |
| 2 | Technology | 18.88% |
| 3 | Communication Services | 15% |
| 4 | Financials | 10.26% |
| 5 | Industrials | 9.58% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Universal Health Services
UHS
$10.4B
| $92.9M | 1.46% |
+834,757
| New | +$87.7M |
|
27
Broadcom
AVGO
$1.75T
| $92.9M | 1.46% |
+9,232,500
| New | +$82.5M |
|
28
MGIC Investment
MTG
$6.34B
| $91.7M | 1.44% |
9,840,768
-2,063,788
| -17% | -$18.1M |
|
|
TMH
29
DELISTED
Team Health Holdings Inc
TMH
| $90.3M | 1.42% |
+1,570,042
| New | +$90.5M |
|
30
PTC
PTC
$16.8B
| $87M | 1.36% |
2,374,064
+469,808
| +25% | +$17.4M |
|
|
ZU
31
DELISTED
ZULILY INC CLASS A COMMON STOCK
ZU
| $79.5M | 1.25% |
+3,399,491
| New | +$104M |
|
|
NRF
32
DELISTED
NorthStar Realty Finance Corp.
NRF
| $67.6M | 1.06% |
1,924,001
+622,095
| +48% | +$22.2M |
|
33
JD.com
JD
$39.7B
| $61.7M | 0.97% |
+2,668,114
| New | +$65.7M |
|
|
QLIK
34
DELISTED
QLIK TECHNOLOGIES INC COM STK (DE)
QLIK
| $57M | 0.89% |
1,843,788
-724,990
| -28% | -$20.7M |
|
35
Pacific Biosciences
PACB
$420M
| $50.6M | 0.79% |
6,459,784
| – | – |
|
36
Community Health Systems
CYH
$424M
| $50M | 0.78% |
1,121,758
-1,441,126
| -56% | -$61.6M |
|
37
Liberty Global Class A
LBTYA
$3.63B
| $48.3M | 0.76% |
1,165,992
-1,178,109
| -50% | -$45.2M |
|
38
Novartis
NVS
$302B
| $48.1M | 0.75% |
579,616
+275,428
| +91% | +$22.8M |
|
39
Aptiv
APTV
$10B
| $46.8M | 0.73% |
+644,043
| New | +$44.4M |
|
40
AB InBev
BUD
$155B
| $40.1M | 0.63% |
356,954
-577,463
| -62% | -$64M |
|
|
CXP
41
DELISTED
COLUMBIA PROPERTY TRUST, INC.
CXP
| $38.3M | 0.6% |
1,511,277
-2,722,988
| -64% | -$68.5M |
|
42
Restaurant Brands International
QSR
$28.2B
| $37.4M | 0.59% |
+957,261
| New | +$36.8M |
|
43
Intercontinental Exchange
ICE
$90.5B
| $29.7M | 0.47% |
677,815
-90,000
| -12% | -$3.86M |
|
|
44
Alibaba
BABA
$286B
| $26M | 0.41% |
250,000
-1,950,000
| -89% | -$200M |
|
|
CSLT
45
DELISTED
CASTLIGHT HEALTH, INC.
CSLT
| $13.4M | 0.21% |
1,144,324
| – | – |
|
|
46
AbbVie
ABBV
$468B
| – | – |
-4,723,578
| Closed | -$273M |
|
47
AMC Global Media
AMCX
$511M
| – | – |
-973,456
| Closed | -$56.9M |
|
48
Ashland
ASH
$3.33B
| – | – |
-2,247,670
| Closed | -$114M |
|
49
Baidu
BIDU
$31.6B
| – | – |
-113,630
| Closed | -$24.8M |
|
|
50
Cognizant
CTSH
$27.9B
| – | – |
-3,375,000
| Closed | -$151M |
|
Similar funds
Lee Ainslie's Q4 2014 Portfolio in Review
As of Q4 2014, Lee Ainslie held 58 positions worth $6.38B, down 6.7% from $6.84B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Lee Ainslie withdrew a net $820M in Q4 2014, closing 13 positions and reducing 22 holdings. Its most notable exit was AbbVie, an estimated $273M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 20% of assets, down from 21% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Lee Ainslie opened a new position in Alphabet (Google) Class C worth $347M.
- Lee Ainslie's largest Q4 2014 buy was Alphabet (Google) Class C: 13,220,939 shares worth $347M.
- Lee Ainslie added most to Vulcan Materials in Q4 2014, an estimated $138M increase.
- Lee Ainslie's biggest Q4 2014 reduction was Alibaba, cutting an estimated $200M.
- Lee Ainslie fully exited AbbVie in Q4 2014, selling an estimated $273M.
- Lee Ainslie's ten largest holdings make up 46% of its $6.38B portfolio in Q4 2014.
- Lee Ainslie opened 12 new positions and closed 13 in Q4 2014.
- Lee Ainslie's portfolio value fell 6.7% quarter-over-quarter to $6.38B.
Based on Maverick Capital's 13F filing for Q4 2014, filed 17 Feb 2015.