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 |
Restaurant Brands International
QSR
|
+$236M |
| 2 |
Corpay
CPAY
|
+$186M |
| 3 |
Humana
HUM
|
+$160M |
| 4 |
DuPont de Nemours
DD
|
+$147M |
| 5 |
ONEM
1Life Healthcare
ONEM
|
+$131M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Monster Beverage
MNST
|
+$341M |
| 2 |
MDCO
Medicines Co
MDCO
|
+$185M |
| 3 |
Westlake Corp
WLK
|
+$162M |
| 4 |
T-Mobile US
TMUS
|
+$153M |
| 5 |
Centene
CNC
|
+$149M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 23.18% |
| 2 | Technology | 22.82% |
| 3 | Healthcare | 21.03% |
| 4 | Communication Services | 13.36% |
| 5 | Materials | 8.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
526
PACCAR
PCAR
$69B
| – | – |
-12,824
| Closed | -$676K |
|
527
Pegasystems
PEGA
$5.52B
| – | – |
-48,538
| Closed | -$1.93M |
|
528
PENN Entertainment
PENN
$2.5B
| – | – |
-7,262
| Closed | -$186K |
|
529
Pinterest
PINS
$13.3B
| – | – |
-3,145
| Closed | -$59K |
|
530
Dave & Buster's
PLAY
$357M
| – | – |
-14,114
| Closed | -$567K |
|
531
PVH
PVH
$3.62B
| – | – |
-49,909
| Closed | -$5.25M |
|
532
PayPal
PYPL
$52.7B
| – | – |
-33,796
| Closed | -$3.66M |
|
533
Ralph Lauren
RL
$22.2B
| – | – |
-22,723
| Closed | -$2.66M |
|
534
Rockwell Automation
ROK
$48.5B
| – | – |
-11,998
| Closed | -$2.43M |
|
535
Sonic Automotive
SAH
$2.45B
| – | – |
-93,881
| Closed | -$2.91M |
|
|
ECHO
536
EchoStar
ECHO
$25.2B
| – | – |
-99,248
| Closed | -$4.3M |
|
537
Steven Madden
SHOO
$3.37B
| – | – |
-35,458
| Closed | -$1.52M |
|
538
Snap-on
SNA
$20.3B
| – | – |
-2,406
| Closed | -$408K |
|
539
Takeda Pharmaceutical
TAK
$58.1B
| – | – |
-716,145
| Closed | -$14.1M |
|
540
Teck Resources
TECK
$33.9B
| – | – |
-265,078
| Closed | -$4.6M |
|
541
Teva Pharmaceuticals
TEVA
$43.5B
| – | – |
-461,715
| Closed | -$4.53M |
|
542
Teleflex
TFX
$5.88B
| – | – |
-3,483
| Closed | -$1.31M |
|
543
Thor Industries
THO
$4.14B
| – | – |
-21,096
| Closed | -$1.57M |
|
|
TRUE
544
DELISTED
TrueCar
TRUE
| – | – |
-870,773
| Closed | -$4.14M |
|
545
Toro Company
TTC
$9.47B
| – | – |
-52,534
| Closed | -$4.18M |
|
546
Upbound Group
UPBD
$1.1B
| – | – |
-161,744
| Closed | -$4.67M |
|
547
United Therapeutics
UTHR
$22B
| – | – |
-14,781
| Closed | -$1.3M |
|
548
Verizon
VZ
$205B
| – | – |
-33,915
| Closed | -$2.08M |
|
549
Western Digital
WDC
$166B
| – | – |
-821,640
| Closed | -$39.4M |
|
550
Wyndham Hotels & Resorts
WH
$5.54B
| – | – |
-78,554
| Closed | -$4.93M |
|
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Lee Ainslie's Q1 2020 Portfolio in Review
As of Q1 2020, Lee Ainslie held 565 positions worth $4.74B, down 31% from $6.87B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Lee Ainslie withdrew a net $525M in Q1 2020, closing 99 positions and reducing 138 holdings. Its most notable exit was Medicines Co, an estimated $185M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, up from 18% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Lee Ainslie opened a new position in 1Life Healthcare worth $101M.
- Lee Ainslie's largest Q1 2020 buy was 1Life Healthcare: 5,955,185 shares worth $101M.
- Lee Ainslie added most to Restaurant Brands International in Q1 2020, an estimated $236M increase.
- Lee Ainslie's biggest Q1 2020 reduction was Monster Beverage, cutting an estimated $341M.
- Lee Ainslie fully exited Medicines Co in Q1 2020, selling an estimated $185M.
- Lee Ainslie's ten largest holdings make up 49% of its $4.74B portfolio in Q1 2020.
- Lee Ainslie opened 228 new positions and closed 99 in Q1 2020.
- Lee Ainslie's portfolio value fell 31% quarter-over-quarter to $4.74B.
Based on Maverick Capital's 13F filing for Q1 2020, filed 15 May 2020.