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
|
+$222M |
| 2 |
Eagle Materials
EXP
|
+$137M |
| 3 |
Centene
CNC
|
+$134M |
| 4 |
Alibaba
BABA
|
+$122M |
| 5 |
SCHW
Charles Schwab
SCHW
|
+$119M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Universal Health Services
UHS
|
+$299M |
| 2 |
Walt Disney
DIS
|
+$162M |
| 3 |
T-Mobile US
TMUS
|
+$151M |
| 4 |
PARA
Paramount Global Class B
PARA
|
+$133M |
| 5 |
Lam Research
LRCX
|
+$117M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.15% |
| 2 | Consumer Discretionary | 20.03% |
| 3 | Communication Services | 15.29% |
| 4 | Healthcare | 14.4% |
| 5 | Financials | 9.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Constellation Brands
STZ
$23.2B
| $74.8M | 1.1% |
465,246
-151,181
| -25% | -$30M |
|
27
British American Tobacco
BTI
$121B
| $68.9M | 1.01% |
2,163,916
+713,230
| +49% | +$27.7M |
|
|
MDCO
28
DELISTED
Medicines Co
MDCO
| $67.3M | 0.99% |
3,514,977
+2,150,140
| +158% | +$50M |
|
29
Wynn Resorts
WYNN
$10.3B
| $64.5M | 0.95% |
+651,760
| New | +$70.3M |
|
30
Graphic Packaging
GPK
$3.54B
| $64.3M | 0.94% |
6,047,126
+1,151,490
| +24% | +$13.5M |
|
31
AB InBev
BUD
$155B
| $64.1M | 0.94% |
973,880
-1,022,872
| -51% | -$78.3M |
|
32
Las Vegas Sands
LVS
$30.5B
| $62.1M | 0.91% |
+1,192,963
| New | +$64.7M |
|
33
NetEase
NTES
$82.1B
| $55.8M | 0.82% |
+1,185,540
| New | +$53.5M |
|
34
PVH
PVH
$3.62B
| $46.4M | 0.68% |
499,453
+287,193
| +135% | +$32.9M |
|
35
United Airlines
UAL
$36.7B
| $35.5M | 0.52% |
423,460
+167,150
| +65% | +$14.7M |
|
36
Madison Square Garden
MSGS
$9.78B
| $34.9M | 0.51% |
+182,582
| New | +$35.5M |
|
37
Ollie's Bargain Outlet
OLLI
$4.6B
| $33.9M | 0.5% |
+509,440
| New | +$42.4M |
|
|
FL
38
DELISTED
Foot Locker
FL
| $32.4M | 0.48% |
609,020
+360,710
| +145% | +$18.1M |
|
39
RH
RH
$2.9B
| $31.4M | 0.46% |
262,240
+232,910
| +794% | +$28M |
|
40
Texas Roadhouse
TXRH
$13.4B
| $29.9M | 0.44% |
500,740
+295,920
| +144% | +$19M |
|
|
GES
41
DELISTED
Guess Inc
GES
| $28.1M | 0.41% |
1,350,610
+252,390
| +23% | +$5.35M |
|
42
Delta Air Lines
DAL
$54.2B
| $27.7M | 0.41% |
555,710
+96,630
| +21% | +$5.26M |
|
|
SIX
43
DELISTED
Six Flags Entertainment Corp.
SIX
| $26.6M | 0.39% |
+477,770
| New | +$28.5M |
|
|
SGI
44
Somnigroup International
SGI
$13.6B
| $25.7M | 0.38% |
+2,478,712
| New | +$29.7M |
|
45
Yum! Brands
YUM
$41.8B
| $25.1M | 0.37% |
273,560
-257,630
| -49% | -$23M |
|
46
Ralph Lauren
RL
$22.2B
| $22.9M | 0.34% |
221,330
+6,550
| +3% | +$772K |
|
47
Crocs
CROX
$5.85B
| $22.7M | 0.33% |
873,340
+20,223
| +2% | +$473K |
|
48
Williams-Sonoma
WSM
$28B
| $22.6M | 0.33% |
895,900
+746,200
| +498% | +$21.3M |
|
49
Carter's
CRI
$1.31B
| $22.2M | 0.33% |
+272,580
| New | +$24.8M |
|
50
Walmart Inc
WMT
$825B
| $22M | 0.32% |
+707,820
| New | +$22.7M |
|
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Lee Ainslie's Q4 2018 Portfolio in Review
As of Q4 2018, Lee Ainslie held 324 positions worth $6.81B, down 15% from $8.04B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Lee Ainslie's Q4 2018 filing shows 86 new, 82 increased, 87 reduced and 67 closed positions. Its largest new stake was Eagle Materials: 1,909,554 shares worth $117M. The largest sale was Universal Health Services, an estimated $299M.
By sector, the portfolio is most concentrated in Technology at 24% of assets, down from 27% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Lee Ainslie's largest Q4 2018 buy was Eagle Materials: 1,909,554 shares worth $117M.
- Lee Ainslie added most to Alphabet (Google) Class C in Q4 2018, an estimated $222M increase.
- Lee Ainslie's biggest Q4 2018 reduction was Universal Health Services, cutting an estimated $299M.
- Lee Ainslie fully exited Paramount Global Class B in Q4 2018, selling an estimated $133M.
- Lee Ainslie's ten largest holdings make up 37% of its $6.81B portfolio in Q4 2018.
- Lee Ainslie opened 86 new positions and closed 67 in Q4 2018.
- Lee Ainslie's portfolio value fell 15% quarter-over-quarter to $6.81B.
Based on Maverick Capital's 13F filing for Q4 2018, filed 14 Feb 2019.