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 | |
|---|---|---|---|---|---|---|
576
Bread Financial
BFH
$4.07B
| – | – |
-44,220
| Closed | -$1.19M |
|
577
Buckle
BKE
$2.26B
| – | – |
-3,136
| Closed | -$43K |
|
578
Boot Barn
BOOT
$5.01B
| – | – |
-44,383
| Closed | -$574K |
|
|
BRFS
579
DELISTED
BRF SA
BRFS
| – | – |
-446,418
| Closed | -$1.29M |
|
580
Berkshire Hathaway Class B
BRK.B
$1.06T
| – | – |
-165
| Closed | -$30K |
|
581
Blackstone
BX
$108B
| – | – |
-488,431
| Closed | -$22.3M |
|
582
Conagra Brands
CAG
$7.89B
| – | – |
-6,995
| Closed | -$205K |
|
583
Avis
CAR
$5.18B
| – | – |
-267,689
| Closed | -$3.72M |
|
584
Check Point Software Technologies
CHKP
$13.3B
| – | – |
-32,907
| Closed | -$3.31M |
|
585
Charter Communications
CHTR
$17.9B
| – | – |
-648
| Closed | -$283K |
|
586
Cleveland-Cliffs
CLF
$6.43B
| – | – |
-142,121
| Closed | -$561K |
|
587
Chipotle Mexican Grill
CMG
$46.7B
| – | – |
-245,800
| Closed | -$3.22M |
|
|
VISN
588
Vistance Networks Inc
VISN
$2.59B
| – | – |
-19,326,308
| Closed | -$176M |
|
589
Costco
COST
$420B
| – | – |
-12,544
| Closed | -$3.58M |
|
590
Canadian Pacific Kansas City
CP
$85B
| – | – |
-27,810
| Closed | -$1.22M |
|
591
Capri Holdings
CPRI
$1.55B
| – | – |
-319,724
| Closed | -$3.45M |
|
592
Crocs
CROX
$5.85B
| – | – |
-143,298
| Closed | -$2.44M |
|
593
CoStar Group
CSGP
$13.1B
| – | – |
-17,000
| Closed | -$998K |
|
594
CSX Corp
CSX
$95.6B
| – | – |
-77,805
| Closed | -$1.49M |
|
595
Crane NXT
CXT
$2.89B
| – | – |
-72,289
| Closed | -$1.24M |
|
596
Delta Air Lines
DAL
$54.2B
| – | – |
-90,829
| Closed | -$2.59M |
|
597
D.R. Horton
DHI
$41.5B
| – | – |
-23,803
| Closed | -$809K |
|
598
Darden Restaurants
DRI
$25.2B
| – | – |
-40
| Closed | -$2K |
|
|
EB
599
DELISTED
Eventbrite
EB
| – | – |
-128,014
| Closed | -$935K |
|
600
EQT Corp
EQT
$33.6B
| – | – |
-338,208
| Closed | -$2.39M |
|
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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.