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 | |
|---|---|---|---|---|---|---|
551
Sprouts Farmers Market
SFM
$7.56B
| $24K | ﹤0.01% |
943
-108,308
| -99% | -$2.48M |
|
552
United Parks & Resorts
PRKS
$2.06B
| $24K | ﹤0.01% |
1,589
+1,015
| +177% | +$15K |
|
553
Hilton Worldwide
HLT
$73.5B
| $18K | ﹤0.01% |
+240
| New | +$17.8K |
|
554
CVS Health
CVS
$119B
| $17K | ﹤0.01% |
+264
| New | +$16.6K |
|
|
WCC
555
WESCO International
WCC
$17B
| $16K | ﹤0.01% |
+455
| New | +$13.6K |
|
|
CTXS
556
DELISTED
Citrix Systems Inc
CTXS
| $16K | ﹤0.01% |
107
-44,120
| -100% | -$6.35M |
|
557
Etsy
ETSY
$7.44B
| $14K | ﹤0.01% |
+131
| New | +$9.69K |
|
558
AT&T
T
$173B
| $13K | ﹤0.01% |
+569
| New | +$13K |
|
559
Nasdaq
NDAQ
$54.9B
| $7K | ﹤0.01% |
+165
| New | +$6.14K |
|
560
Allstate
ALL
$64.2B
| $5K | ﹤0.01% |
+51
| New | +$5.01K |
|
561
Ulta Beauty
ULTA
$22.4B
| $5K | ﹤0.01% |
+27
| New | +$5.81K |
|
562
Bloomin' Brands
BLMN
$996M
| $2K | ﹤0.01% |
+142
| New | +$1.47K |
|
563
Dine Brands
DIN
$454M
| $2K | ﹤0.01% |
+44
| New | +$1.78K |
|
564
Advance Auto Parts
AAP
$2.57B
| – | – |
-47,761
| Closed | -$4.46M |
|
565
Autodesk
ADSK
$53.6B
| – | – |
-10,643
| Closed | -$1.66M |
|
566
Align Technology
ALGN
$11.5B
| – | – |
-5,627
| Closed | -$979K |
|
567
Alkermes
ALKS
$8.11B
| – | – |
-2,494,384
| Closed | -$36M |
|
|
AMED
568
DELISTED
Amedisys
AMED
| – | – |
-12,449
| Closed | -$2.29M |
|
569
Antero Resources
AR
$11.7B
| – | – |
-1,272,170
| Closed | -$907K |
|
570
Aramark
ARMK
$15.8B
| – | – |
-829,200
| Closed | -$12M |
|
571
ATI
ATI
$28.2B
| – | – |
-144,390
| Closed | -$1.23M |
|
572
AngloGold Ashanti
AU
$61.3B
| – | – |
-48,209
| Closed | -$802K |
|
573
Avient
AVNT
$4.1B
| – | – |
-47,464
| Closed | -$900K |
|
574
Bath & Body Works
BBWI
$3.92B
| – | – |
-952,225
| Closed | -$8.9M |
|
575
Bright Horizons
BFAM
$3.54B
| – | – |
-8,279
| Closed | -$844K |
|
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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.