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 | |
|---|---|---|---|---|---|---|
626
Lincoln National
LNC
$8.07B
| – | – |
-21,265
| Closed | -$560K |
|
|
LNW
627
DELISTED
Light & Wonder
LNW
| – | – |
-107,928
| Closed | -$1.05M |
|
628
El Pollo Loco
LOCO
$488M
| – | – |
-124,996
| Closed | -$1.06M |
|
629
lululemon athletica
LULU
$13.7B
| – | – |
-13,127
| Closed | -$2.49M |
|
630
McDonald's
MCD
$192B
| – | – |
-3,186
| Closed | -$527K |
|
631
MillerKnoll
MLKN
$1.57B
| – | – |
-32,235
| Closed | -$716K |
|
632
Monro
MNRO
$392M
| – | – |
-28,374
| Closed | -$1.24M |
|
633
Monster Beverage
MNST
$93.6B
| – | – |
-287,532
| Closed | -$4.04M |
|
634
Molina Healthcare
MOH
$10.5B
| – | – |
-9,703
| Closed | -$1.36M |
|
635
Murphy Oil
MUR
$5.36B
| – | – |
-51,622
| Closed | -$316K |
|
636
Navient
NAVI
$886M
| – | – |
-63,864
| Closed | -$484K |
|
637
NMI Holdings
NMIH
$3.4B
| – | – |
-30,127
| Closed | -$350K |
|
638
Bank of N.T. Butterfield & Son
NTB
$2.3B
| – | – |
-62,619
| Closed | -$1.07M |
|
639
Nucor
NUE
$55.3B
| – | – |
-13,967
| Closed | -$503K |
|
640
Novartis
NVS
$302B
| – | – |
-18,918
| Closed | -$1.56M |
|
641
NXP Semiconductors
NXPI
$56.9B
| – | – |
-15,338
| Closed | -$1.27M |
|
642
Universal Display
OLED
$3.95B
| – | – |
-6,829
| Closed | -$900K |
|
643
Olin
OLN
$2.1B
| – | – |
-138,237
| Closed | -$1.61M |
|
644
Oracle
ORCL
$422B
| – | – |
-229,083
| Closed | -$11.1M |
|
|
PARA
645
DELISTED
Paramount Global Class B
PARA
| – | – |
-79,499
| Closed | -$1.11M |
|
646
PBF Energy
PBF
$8.72B
| – | – |
-102,816
| Closed | -$728K |
|
647
Prestige Consumer Healthcare
PBH
$2.43B
| – | – |
-33,213
| Closed | -$1.22M |
|
648
Pacira BioSciences
PCRX
$983M
| – | – |
-48,159
| Closed | -$1.61M |
|
649
PetMed Express
PETS
$38.2M
| – | – |
-207,225
| Closed | -$5.96M |
|
650
Pool Corp
POOL
$6.83B
| – | – |
-6,885
| Closed | -$1.35M |
|
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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.