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 |
Meta Platforms (Facebook)
META
|
+$227M |
| 2 |
Dollar Tree
DLTR
|
+$160M |
| 3 |
Amazon
AMZN
|
+$137M |
| 4 |
Air Products & Chemicals
APD
|
+$57.8M |
| 5 |
Lam Research
LRCX
|
+$57.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Corpay
CPAY
|
+$242M |
| 2 |
DuPont de Nemours
DD
|
+$228M |
| 3 |
Restaurant Brands International
QSR
|
+$185M |
| 4 |
VISN
Vistance Networks Inc
VISN
|
+$176M |
| 5 |
Alibaba
BABA
|
+$135M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 22.72% |
| 2 | Communication Services | 19.37% |
| 3 | Consumer Discretionary | 18.3% |
| 4 | Technology | 15.31% |
| 5 | Materials | 7.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
476
Frontline
FRO
$9.72B
| $378K | 0.01% |
54,308
-24,268
| -31% | -$206K |
|
477
Encore Capital Group
ECPG
$2.15B
| $373K | 0.01% |
+10,912
| New | +$325K |
|
478
Zimmer Biomet
ZBH
$19.3B
| $371K | 0.01% |
+3,199
| New | +$369K |
|
479
State Street
STT
$51.4B
| $365K | 0.01% |
+5,743
| New | +$347K |
|
480
MSCI
MSCI
$41B
| $364K | 0.01% |
+1,089
| New | +$352K |
|
481
Citizens Financial Group
CFG
$29.4B
| $344K | 0.01% |
+13,620
| New | +$309K |
|
482
Voya Financial
VOYA
$8.86B
| $341K | 0.01% |
7,304
-25,425
| -78% | -$1.13M |
|
483
CDW
CDW
$17.2B
| $338K | 0.01% |
+2,912
| New | +$315K |
|
484
Alcoa
AA
$13.7B
| $333K | 0.01% |
29,609
-572,293
| -95% | -$5.12M |
|
485
Automatic Data Processing
ADP
$112B
| $328K | 0.01% |
+2,206
| New | +$316K |
|
486
Skyworks Solutions
SWKS
$10.1B
| $326K | 0.01% |
+2,553
| New | +$283K |
|
|
SMAR
487
DELISTED
Smartsheet Inc.
SMAR
| $315K | 0.01% |
+6,177
| New | +$314K |
|
488
Post Holdings
POST
$3.65B
| $312K | 0.01% |
5,446
-113,362
| -95% | -$6.6M |
|
489
Watsco Inc
WSO
$12.9B
| $307K | 0.01% |
+1,730
| New | +$286K |
|
490
Cullen/Frost Bankers
CFR
$10.2B
| $304K | 0.01% |
+4,064
| New | +$283K |
|
491
Curtiss-Wright
CW
$23.5B
| $296K | 0.01% |
+3,313
| New | +$316K |
|
|
PLAN
492
DELISTED
Anaplan, Inc.
PLAN
| $295K | 0.01% |
+6,510
| New | +$273K |
|
|
CTRA
493
DELISTED
Coterra Energy
CTRA
| $293K | 0.01% |
+17,059
| New | +$331K |
|
494
Guidewire Software
GWRE
$15.8B
| $292K | 0.01% |
2,635
+2,261
| +605% | +$217K |
|
495
Qualcomm
QCOM
$169B
| $291K | 0.01% |
3,193
+2,326
| +268% | +$187K |
|
496
Wynn Resorts
WYNN
$10.3B
| $278K | 0.01% |
+3,736
| New | +$299K |
|
497
Cummins
CMI
$80.9B
| $277K | 0.01% |
+1,600
| New | +$256K |
|
498
Applied Materials
AMAT
$391B
| $276K | 0.01% |
+4,562
| New | +$246K |
|
499
Teradyne
TER
$58.7B
| $276K | 0.01% |
+3,264
| New | +$219K |
|
500
Danaher
DHR
$154B
| $261K | 0.01% |
+1,665
| New | +$239K |
|
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Lee Ainslie's Q2 2020 Portfolio in Review
As of Q2 2020, Lee Ainslie held 731 positions worth $4.75B, up 0.4% from $4.74B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Lee Ainslie withdrew a net $1.26B in Q2 2020, closing 168 positions and reducing 190 holdings. Its most notable exit was Restaurant Brands International, an estimated $185M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 23% of assets, up from 21% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Lee Ainslie opened a new position in American Express worth $59M.
- Lee Ainslie's largest Q2 2020 buy was American Express: 619,428 shares worth $59M.
- Lee Ainslie added most to Meta Platforms (Facebook) in Q2 2020, an estimated $227M increase.
- Lee Ainslie's biggest Q2 2020 reduction was Corpay, cutting an estimated $242M.
- Lee Ainslie fully exited Restaurant Brands International in Q2 2020, selling an estimated $185M.
- Lee Ainslie's ten largest holdings make up 53% of its $4.75B portfolio in Q2 2020.
- Lee Ainslie opened 265 new positions and closed 168 in Q2 2020.
- Lee Ainslie's portfolio value rose 0.4% quarter-over-quarter to $4.75B.
Based on Maverick Capital's 13F filing for Q2 2020, filed 14 Aug 2020.