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 |
Lam Research
LRCX
|
+$268M |
| 2 |
DXC Technology
DXC
|
+$265M |
| 3 |
Elevance Health
ELV
|
+$262M |
| 4 |
Baidu
BIDU
|
+$195M |
| 5 |
Constellation Brands
STZ
|
+$131M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$483M |
| 2 |
Meta Platforms (Facebook)
META
|
+$439M |
| 3 |
Dollar Tree
DLTR
|
+$362M |
| 4 |
EVHC
Envision Healthcare Holdings Inc
EVHC
|
+$297M |
| 5 |
Mohawk Industries
MHK
|
+$257M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.07% |
| 2 | Healthcare | 17.51% |
| 3 | Communication Services | 16.54% |
| 4 | Consumer Discretionary | 15.49% |
| 5 | Financials | 7.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Graphic Packaging
GPK
$3.54B
| $68.6M | 0.85% |
4,895,636
+13,310
| +0.3% | +$192K |
|
27
British American Tobacco
BTI
$121B
| $67.6M | 0.84% |
1,450,686
+163,023
| +13% | +$8.28M |
|
28
Spotify
SPOT
$110B
| $66.7M | 0.83% |
368,806
-37,891
| -9% | -$6.95M |
|
29
Pacific Biosciences
PACB
$420M
| $65.9M | 0.82% |
12,173,094
| – | – |
|
30
Applied Materials
AMAT
$391B
| $65.8M | 0.82% |
1,701,997
+1,523,017
| +851% | +$67.4M |
|
31
Baxter International
BAX
$13.6B
| $64.2M | 0.8% |
+832,450
| New | +$61.8M |
|
32
Yum! Brands
YUM
$41.8B
| $48.3M | 0.6% |
+531,190
| New | +$44.3M |
|
33
TJX Companies
TJX
$155B
| $45.2M | 0.56% |
806,960
+64,200
| +9% | +$3.3M |
|
34
Southwest Airlines
LUV
$19.8B
| $43.6M | 0.54% |
698,830
+671,830
| +2,488% | +$39.3M |
|
|
MDCO
35
DELISTED
Medicines Co
MDCO
| $40.8M | 0.51% |
1,364,837
+159,556
| +13% | +$6.01M |
|
36
Advance Auto Parts
AAP
$2.57B
| $38.5M | 0.48% |
228,610
+191,670
| +519% | +$29.5M |
|
37
AutoZone
AZO
$48.3B
| $36.8M | 0.46% |
47,430
+43,350
| +1,063% | +$31.9M |
|
38
Ciena
CIEN
$56B
| $35.3M | 0.44% |
1,128,681
-2,816,676
| -71% | -$78.9M |
|
39
Capri Holdings
CPRI
$1.55B
| $35.2M | 0.44% |
513,310
-92,800
| -15% | -$6.5M |
|
40
American Airlines Group
AAL
$9.15B
| $33.4M | 0.42% |
+808,590
| New | +$31.6M |
|
|
41
Mohawk Industries
MHK
$9.23B
| $31.4M | 0.39% |
178,965
-1,308,841
| -88% | -$257M |
|
42
Target
TGT
$75.1B
| $31.2M | 0.39% |
353,590
+74,690
| +27% | +$6.21M |
|
|
BIG
43
DELISTED
Big Lots, Inc.
BIG
| $30.8M | 0.38% |
735,876
+537,326
| +271% | +$23.7M |
|
44
PVH
PVH
$3.62B
| $30.6M | 0.38% |
+212,260
| New | +$31.4M |
|
45
Ralph Lauren
RL
$22.2B
| $29.5M | 0.37% |
214,780
-59,700
| -22% | -$7.96M |
|
46
Dave & Buster's
PLAY
$357M
| $28.5M | 0.35% |
430,640
+378,980
| +734% | +$20.5M |
|
47
Dillards
DDS
$9.71B
| $28M | 0.35% |
366,780
+68,870
| +23% | +$5.59M |
|
48
United Parks & Resorts
PRKS
$2.06B
| $27.7M | 0.34% |
880,223
-131,076
| -13% | -$3.42M |
|
49
Delta Air Lines
DAL
$54.2B
| $26.5M | 0.33% |
459,080
+192,560
| +72% | +$10.6M |
|
50
Tractor Supply
TSCO
$18.2B
| $25.7M | 0.32% |
1,414,900
+252,395
| +22% | +$4.2M |
|
Similar funds
Lee Ainslie's Q3 2018 Portfolio in Review
As of Q3 2018, Lee Ainslie held 303 positions worth $8.04B, down 6% from $8.55B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Lee Ainslie withdrew a net $920M in Q3 2018, closing 65 positions and reducing 95 holdings. Its most notable exit was Dollar Tree, an estimated $362M position sold in full.
By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 19% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Lee Ainslie opened a new position in Constellation Brands worth $133M.
- Lee Ainslie's largest Q3 2018 buy was Constellation Brands: 616,427 shares worth $133M.
- Lee Ainslie added most to Lam Research in Q3 2018, an estimated $268M increase.
- Lee Ainslie's biggest Q3 2018 reduction was Alphabet (Google) Class C, cutting an estimated $483M.
- Lee Ainslie fully exited Dollar Tree in Q3 2018, selling an estimated $362M.
- Lee Ainslie's ten largest holdings make up 41% of its $8.04B portfolio in Q3 2018.
- Lee Ainslie opened 68 new positions and closed 65 in Q3 2018.
- Lee Ainslie's portfolio value fell 6% quarter-over-quarter to $8.04B.
Based on Maverick Capital's 13F filing for Q3 2018, filed 14 Nov 2018.