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 |
Lam Research
LRCX
|
+$174M |
| 2 |
Corning
GLW
|
+$124M |
| 3 |
TG Therapeutics
TGTX
|
+$98.1M |
| 4 |
Blackstone
BX
|
+$87.5M |
| 5 |
Logitech
LOGI
|
+$85.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$86.7M |
| 2 |
Netflix
NFLX
|
+$86.2M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$80.7M |
| 4 |
MNTA
Momenta Pharmaceuticals, Inc.
MNTA
|
+$77M |
| 5 |
Avantor
AVTR
|
+$74.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.08% |
| 2 | Healthcare | 19.5% |
| 3 | Consumer Discretionary | 18.07% |
| 4 | Communication Services | 14.12% |
| 5 | Financials | 7.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
576
Avery Dennison
AVY
$13.9B
| – | – |
-6,903
| Closed | -$788K |
|
577
Credicorp
BAP
$30.1B
| – | – |
-4,207
| Closed | -$562K |
|
578
Franklin Templeton
BEN
$17.4B
| – | – |
-20,852
| Closed | -$437K |
|
579
Baidu
BIDU
$31.6B
| – | – |
-8,243
| Closed | -$988K |
|
580
Bio-Rad Laboratories Class A
BIO
$10.2B
| – | – |
-915
| Closed | -$413K |
|
581
Brookdale Senior Living
BKD
$2.82B
| – | – |
-128,423
| Closed | -$379K |
|
582
Badger Meter
BMI
$3.82B
| – | – |
-13,368
| Closed | -$841K |
|
583
Brookfield
BN
$93.1B
| – | – |
-40,186
| Closed | -$708K |
|
584
Brady Corp
BRC
$4.3B
| – | – |
-15,448
| Closed | -$723K |
|
585
British American Tobacco
BTI
$121B
| – | – |
-1,701,079
| Closed | -$66M |
|
586
Burlington
BURL
$20.6B
| – | – |
-13,086
| Closed | -$2.58M |
|
587
Cable One
CABO
$129M
| – | – |
-700
| Closed | -$1.24M |
|
588
Cameco
CCJ
$44.6B
| – | – |
-43,520
| Closed | -$446K |
|
589
Cadence Design Systems
CDNS
$87.9B
| – | – |
-11,335
| Closed | -$1.09M |
|
590
CDW
CDW
$17.2B
| – | – |
-2,912
| Closed | -$338K |
|
591
CF Industries
CF
$19.6B
| – | – |
-88,197
| Closed | -$2.48M |
|
592
Citizens Financial Group
CFG
$29.4B
| – | – |
-13,620
| Closed | -$344K |
|
593
Chegg
CHGG
$90.8M
| – | – |
-55,444
| Closed | -$3.73M |
|
594
C.H. Robinson
CHRW
$16.5B
| – | – |
-10,207
| Closed | -$807K |
|
595
Clorox
CLX
$12.9B
| – | – |
-7,455
| Closed | -$1.64M |
|
596
CME Group
CME
$98.9B
| – | – |
-1,241
| Closed | -$202K |
|
597
Cummins
CMI
$80.9B
| – | – |
-1,600
| Closed | -$277K |
|
598
Cimpress
CMPR
$2.13B
| – | – |
-14,842
| Closed | -$1.13M |
|
599
Cinemark Holdings
CNK
$4.24B
| – | – |
-84,019
| Closed | -$970K |
|
600
Capital One
COF
$134B
| – | – |
-20,533
| Closed | -$1.28M |
|
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Lee Ainslie's Q3 2020 Portfolio in Review
As of Q3 2020, Lee Ainslie held 751 positions worth $5.38B, up 13% from $4.75B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Lee Ainslie deployed $296M of net new capital in Q3 2020, opening 188 new positions and adding to 138 existing holdings. Its largest new stake was Blackstone: 1,634,535 shares worth $85.3M.
By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 15% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Meta Platforms (Facebook), an estimated $86.7M trimmed.
- Lee Ainslie's largest Q3 2020 buy was Blackstone: 1,634,535 shares worth $85.3M.
- Lee Ainslie added most to Lam Research in Q3 2020, an estimated $174M increase.
- Lee Ainslie's biggest Q3 2020 reduction was Meta Platforms (Facebook), cutting an estimated $86.7M.
- Lee Ainslie fully exited Momenta Pharmaceuticals, Inc. in Q3 2020, selling an estimated $77M.
- Lee Ainslie's ten largest holdings make up 45% of its $5.38B portfolio in Q3 2020.
- Lee Ainslie opened 188 new positions and closed 190 in Q3 2020.
- Lee Ainslie's portfolio value rose 13% quarter-over-quarter to $5.38B.
Based on Maverick Capital's 13F filing for Q3 2020, filed 16 Nov 2020.