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 | |
|---|---|---|---|---|---|---|
651
Perrigo
PRGO
$1.98B
| – | – |
-8,786
| Closed | -$423K |
|
|
P
652
Everpure Inc
P
$36.1B
| – | – |
-77,419
| Closed | -$952K |
|
|
HTT
653
High Templar Tech Ltd
HTT
$388M
| – | – |
-740,888
| Closed | -$1.33M |
|
654
Qualys
QLYS
$6.3B
| – | – |
-13,921
| Closed | -$1.21M |
|
|
655
Restaurant Brands International
QSR
$28.2B
| – | – |
-4,612,010
| Closed | -$185M |
|
656
RingCentral
RNG
$5.6B
| – | – |
-1,147
| Closed | -$243K |
|
657
Roku
ROKU
$23.4B
| – | – |
-55,327
| Closed | -$4.84M |
|
658
Reliance Steel & Aluminium
RS
$19.8B
| – | – |
-17,582
| Closed | -$1.54M |
|
659
Ryanair
RYAAY
$28.9B
| – | – |
-66,203
| Closed | -$1.41M |
|
660
Sabre
SABR
$848M
| – | – |
-144,571
| Closed | -$857K |
|
661
Sally Beauty Holdings
SBH
$1.55B
| – | – |
-476,438
| Closed | -$3.85M |
|
662
Service Corp International
SCI
$11.4B
| – | – |
-45,474
| Closed | -$1.78M |
|
663
Stellantis
STLA
$20.4B
| – | – |
-151,274
| Closed | -$1.09M |
|
664
Target
TGT
$75.1B
| – | – |
-9,654
| Closed | -$898K |
|
665
Tenet Healthcare
THC
$22.6B
| – | – |
-129,895
| Closed | -$1.87M |
|
666
Thermo Fisher Scientific
TMO
$233B
| – | – |
-221
| Closed | -$63K |
|
|
TPH
667
DELISTED
Tri Pointe Homes
TPH
| – | – |
-16,602
| Closed | -$146K |
|
668
Tapestry
TPR
$26B
| – | – |
-279,821
| Closed | -$3.62M |
|
669
TripAdvisor
TRIP
$1.17B
| – | – |
-678
| Closed | -$12K |
|
670
Trimble
TRMB
$14B
| – | – |
-29,534
| Closed | -$940K |
|
671
Tenaris
TS
$26.6B
| – | – |
-54,646
| Closed | -$658K |
|
672
Tractor Supply
TSCO
$18.2B
| – | – |
-507,210
| Closed | -$8.58M |
|
673
Take-Two Interactive
TTWO
$44.8B
| – | – |
-19,285
| Closed | -$2.29M |
|
674
Unifirst Corp
UNF
$5.25B
| – | – |
-1,240
| Closed | -$187K |
|
675
Unum
UNM
$13.9B
| – | – |
-46,433
| Closed | -$697K |
|
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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.