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 | |
|---|---|---|---|---|---|---|
601
Element Solutions
ESI
$8.6B
| – | – |
-168,769
| Closed | -$1.41M |
|
602
Fortune Brands Innovations
FBIN
$5.32B
| – | – |
-48,679
| Closed | -$1.8M |
|
603
F5
FFIV
$21.8B
| – | – |
-447
| Closed | -$48K |
|
604
FMC
FMC
$1.38B
| – | – |
-25,970
| Closed | -$2.12M |
|
605
Fabrinet
FN
$15.6B
| – | – |
-784
| Closed | -$43K |
|
606
General Dynamics
GD
$104B
| – | – |
-21,458
| Closed | -$2.84M |
|
607
Gold Fields
GFI
$42.8B
| – | – |
-123,676
| Closed | -$587K |
|
608
Graco
GGG
$13.1B
| – | – |
-23,324
| Closed | -$1.14M |
|
609
GameStop
GME
$8.17B
| – | – |
-15,241,936
| Closed | -$13.3M |
|
610
Group 1 Automotive
GPI
$3.12B
| – | – |
-12,968
| Closed | -$574K |
|
611
Global Payments
GPN
$24.7B
| – | – |
-262
| Closed | -$38K |
|
612
GoPro
GPRO
$116M
| – | – |
-42,371
| Closed | -$111K |
|
613
Groupon
GRPN
$797M
| – | – |
-71,412
| Closed | -$1.4M |
|
614
Hyatt Hotels
H
$17B
| – | – |
-508,786
| Closed | -$24.4M |
|
615
Haemonetics
HAE
$4.95B
| – | – |
-3,463
| Closed | -$345K |
|
616
Helen of Troy
HELE
$677M
| – | – |
-39,494
| Closed | -$5.69M |
|
617
Honda
HMC
$43.3B
| – | – |
-40,641
| Closed | -$913K |
|
618
HUB Group
HUBG
$2.49B
| – | – |
-84,838
| Closed | -$1.93M |
|
|
PPLI
619
People Inc
PPLI
$2.86B
| – | – |
-7,229
| Closed | -$232K |
|
620
IDEX
IEX
$17.3B
| – | – |
-9,907
| Closed | -$1.37M |
|
621
Intuit
INTU
$100B
| – | – |
-833
| Closed | -$192K |
|
622
Johnson & Johnson
JNJ
$651B
| – | – |
-44,249
| Closed | -$5.8M |
|
|
OPLN
623
Openlane
OPLN
$4.08B
| – | – |
-92,132
| Closed | -$1.11M |
|
624
Lennar Class A
LEN
$21B
| – | – |
-1,132
| Closed | -$42K |
|
625
Labcorp
LH
$27.3B
| – | – |
-15,873
| Closed | -$1.72M |
|
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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.