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 |
Visa
V
|
+$121M |
| 2 |
Workday
WDAY
|
+$100M |
| 3 |
Lam Research
LRCX
|
+$60M |
| 4 |
Rocket Pharmaceuticals
RCKT
|
+$54.1M |
| 5 |
Sea Limited
SE
|
+$52.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Coupang
CPNG
|
+$201M |
| 2 |
Alibaba
BABA
|
+$102M |
| 3 |
Meta Platforms (Facebook)
META
|
+$56.4M |
| 4 |
Alnylam Pharmaceuticals
ALNY
|
+$54.2M |
| 5 |
Aon
AON
|
+$51.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 40.52% |
| 2 | Healthcare | 15.55% |
| 3 | Technology | 14.19% |
| 4 | Communication Services | 7.61% |
| 5 | Financials | 5.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Workday
WDAY
$49.4B
| $102M | 1.03% |
407,514
+404,591
| +13,842% | +$100M |
|
27
Humana
HUM
$45.5B
| $97.9M | 0.99% |
251,466
-2,211
| -0.9% | -$938K |
|
28
Carvana
CVNA
$76.9B
| $93.5M | 0.94% |
1,551,135
-8,385
| -0.5% | -$558K |
|
29
Adobe
ADBE
$109B
| $93M | 0.94% |
161,469
+2,539
| +2% | +$1.6M |
|
|
30
Sea Limited
SE
$72B
| $82.1M | 0.83% |
257,526
+170,469
| +196% | +$52.3M |
|
31
LPL Financial
LPLA
$28.5B
| $81.5M | 0.82% |
519,745
-95,324
| -15% | -$13.7M |
|
32
Mercado Libre
MELI
$97.5B
| $74.7M | 0.75% |
44,471
-13,591
| -23% | -$23.5M |
|
|
ONEM
33
DELISTED
1Life Healthcare
ONEM
| $74.1M | 0.75% |
3,661,468
+264
| +0% | +$6.79K |
|
34
International Flavors & Fragrances
IFF
$21.5B
| $69M | 0.7% |
516,180
-135,421
| -21% | -$19.9M |
|
|
IS
35
DELISTED
ironSource Ltd.
IS
| $65.2M | 0.66% |
6,000,000
| – | – |
|
36
Snowflake
SNOW
$115B
| $63.9M | 0.64% |
211,132
+1,264
| +0.6% | +$359K |
|
37
MGM Resorts International
MGM
$11B
| $61.8M | 0.62% |
1,433,331
+284,540
| +25% | +$11.6M |
|
38
Curis
CRIS
$3.83M
| $59.3M | 0.6% |
18,944
+14,020
| +285% | +$43.8M |
|
39
Blackstone
BX
$108B
| $58.3M | 0.59% |
501,213
-100,580
| -17% | -$11.7M |
|
|
40
CALL
Meta Platforms (Facebook)
META
$1.4T
| $57.7M | 0.58% |
+170,000
| New | +$61.2M |
|
41
Global Payments
GPN
$24.7B
| $55M | 0.55% |
349,089
+46,892
| +16% | +$8.15M |
|
42
Ball Corp
BALL
$16.8B
| $52.9M | 0.53% |
588,291
+9,032
| +2% | +$801K |
|
|
FTCH
43
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
| $52.7M | 0.53% |
1,407,005
+108,588
| +8% | +$4.81M |
|
|
44
Rocket Pharmaceuticals
RCKT
$385M
| $49.6M | 0.5% |
1,660,116
+1,486,229
| +855% | +$54.1M |
|
45
DuPont de Nemours
DD
$18.7B
| $49.1M | 0.5% |
575,180
-13,232
| -2% | -$1.23M |
|
|
ATVI
46
DELISTED
Activision Blizzard
ATVI
| $47M | 0.47% |
607,279
+572,325
| +1,637% | +$47.8M |
|
47
LivaNova
LIVN
$4.34B
| $42.4M | 0.43% |
535,690
-611,946
| -53% | -$50.3M |
|
|
CMAX
48
DELISTED
CareMax, Inc. Class A Common Stock
CMAX
| $41.7M | 0.42% |
143,875
+41,224
| +40% | +$12.1M |
|
49
PUT
Credit Acceptance
CACC
$6.24B
| $39.5M | 0.4% |
+67,500
| New | +$36.8M |
|
|
ASZ.U
50
DELISTED
Austerlitz Acquisition Corporation II Units, each consisting of one Class A ordinary share and one-fourth of one redeemable warrant
ASZ.U
| $39M | 0.39% |
3,956,790
| – | – |
|
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Lee Ainslie's Q3 2021 Portfolio in Review
As of Q3 2021, Lee Ainslie held 869 positions worth $9.92B, down 6.9% from $10.6B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Lee Ainslie deployed $866M of net new capital in Q3 2021, opening 208 new positions and adding to 234 existing holdings. Its largest new stake was Instructure Holdings, Inc.: 1,250,000 shares worth $28.2M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 41% of assets, down from 53% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was Coupang, an estimated $201M trimmed.
- Lee Ainslie's largest Q3 2021 buy was Instructure Holdings, Inc.: 1,250,000 shares worth $28.2M.
- Lee Ainslie added most to Visa in Q3 2021, an estimated $121M increase.
- Lee Ainslie's biggest Q3 2021 reduction was Coupang, cutting an estimated $201M.
- Lee Ainslie fully exited Alibaba in Q3 2021, selling an estimated $102M.
- Lee Ainslie's ten largest holdings make up 52% of its $9.92B portfolio in Q3 2021.
- Lee Ainslie opened 208 new positions and closed 244 in Q3 2021.
- Lee Ainslie's portfolio value fell 6.9% quarter-over-quarter to $9.92B.
Based on Maverick Capital's 13F filing for Q3 2021, filed 15 Nov 2021.