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 |
Constellation Brands
STZ
|
+$139M |
| 2 |
Baxter International
BAX
|
+$121M |
| 3 |
Coupang
CPNG
|
+$85.7M |
| 4 |
BNY
Bank of New York Mellon
BNY
|
+$67.4M |
| 5 |
DoorDash
DASH
|
+$63.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$91.7M |
| 2 |
CTLT
CATALENT, INC.
CTLT
|
+$69.4M |
| 3 |
UnitedHealth
UNH
|
+$64.8M |
| 4 |
Meta Platforms (Facebook)
META
|
+$57M |
| 5 |
IMGN
Immunogen Inc
IMGN
|
+$48M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 40.71% |
| 2 | Technology | 19.77% |
| 3 | Healthcare | 12.09% |
| 4 | Communication Services | 8.07% |
| 5 | Consumer Staples | 6.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
501
MGM Resorts International
MGM
$11B
| – | – |
-12,340
| Closed | -$548K |
|
502
M/I Homes
MHO
$3.85B
| – | – |
-4,318
| Closed | -$272K |
|
503
Middleby
MIDD
$5.22B
| – | – |
-2,874
| Closed | -$421K |
|
504
Marathon Petroleum
MPC
$101B
| – | – |
-7,139
| Closed | -$963K |
|
505
Maravai LifeSciences
MRVI
$1.29B
| – | – |
-27,067
| Closed | -$379K |
|
506
Murphy USA
MUSA
$10.5B
| – | – |
-4,854
| Closed | -$1.25M |
|
507
Nasdaq
NDAQ
$54.9B
| – | – |
-8,822
| Closed | -$482K |
|
508
Insperity
NSP
$2.02B
| – | – |
-2,964
| Closed | -$360K |
|
|
NVO
509
Novo Nordisk
NVO
$207B
| – | – |
-4,312
| Closed | -$343K |
|
510
News Corp Class A
NWSA
$16.4B
| – | – |
-23,629
| Closed | -$408K |
|
|
ODP
511
DELISTED
ODP
ODP
| – | – |
-8,430
| Closed | -$379K |
|
512
Oceaneering
OII
$5.28B
| – | – |
-15,701
| Closed | -$277K |
|
513
Ollie's Bargain Outlet
OLLI
$4.6B
| – | – |
-14,086
| Closed | -$816K |
|
514
Olin
OLN
$2.1B
| – | – |
-17,998
| Closed | -$999K |
|
515
PENN Entertainment
PENN
$2.5B
| – | – |
-28,884
| Closed | -$857K |
|
516
PepsiCo
PEP
$196B
| – | – |
-20,167
| Closed | -$3.68M |
|
517
Perrigo
PRGO
$1.98B
| – | – |
-153,704
| Closed | -$5.51M |
|
518
PTC
PTC
$16.8B
| – | – |
-4,248
| Closed | -$545K |
|
519
PVH
PVH
$3.62B
| – | – |
-40,395
| Closed | -$3.6M |
|
520
PayPal
PYPL
$52.7B
| – | – |
-8,318
| Closed | -$632K |
|
521
RB Global
RBA
$16.1B
| – | – |
-3,938
| Closed | -$222K |
|
522
RH
RH
$2.9B
| – | – |
-1,857
| Closed | -$452K |
|
523
RingCentral
RNG
$5.6B
| – | – |
-20,710
| Closed | -$635K |
|
524
Republic Services
RSG
$67.6B
| – | – |
-3,497
| Closed | -$473K |
|
525
Revolve Group
RVLV
$1.69B
| – | – |
-11,992
| Closed | -$315K |
|
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Lee Ainslie's Q2 2023 Portfolio in Review
As of Q2 2023, Lee Ainslie held 579 positions worth $4.69B, up 19% from $3.95B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Lee Ainslie deployed $156M of net new capital in Q2 2023, opening 130 new positions and adding to 106 existing holdings. Its largest new stake was Constellation Brands: 592,121 shares worth $146M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 41% of assets, up from 40% a quarter earlier, followed by Technology and Healthcare.
On the sell side, the largest reduction was Salesforce, an estimated $91.7M trimmed.
- Lee Ainslie's largest Q2 2023 buy was Constellation Brands: 592,121 shares worth $146M.
- Lee Ainslie added most to Coupang in Q2 2023, an estimated $85.7M increase.
- Lee Ainslie's biggest Q2 2023 reduction was Salesforce, cutting an estimated $91.7M.
- Lee Ainslie fully exited CATALENT, INC. in Q2 2023, selling an estimated $69.4M.
- Lee Ainslie's ten largest holdings make up 56% of its $4.69B portfolio in Q2 2023.
- Lee Ainslie opened 130 new positions and closed 187 in Q2 2023.
- Lee Ainslie's portfolio value rose 19% quarter-over-quarter to $4.69B.
Based on Maverick Capital's 13F filing for Q2 2023, filed 14 Aug 2023.