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 | |
|---|---|---|---|---|---|---|
651
Mattel
MAT
$4.15B
| – | – |
-304,276
| Closed | -$2.94M |
|
652
Microchip Technology
MCHP
$41.3B
| – | – |
-10,986
| Closed | -$578K |
|
653
MGM Resorts International
MGM
$11B
| – | – |
-63,850
| Closed | -$1.07M |
|
654
Martin Marietta Materials
MLM
$32.1B
| – | – |
-2,702
| Closed | -$558K |
|
655
Mercury Systems
MRCY
$5.49B
| – | – |
-6,060
| Closed | -$477K |
|
656
Match Group
MTCH
$9.38B
| – | – |
-21,175
| Closed | -$2.27M |
|
657
MasTec
MTZ
$21.4B
| – | – |
-4,372
| Closed | -$196K |
|
658
Norwegian Cruise Line
NCLH
$7.92B
| – | – |
-55,023
| Closed | -$904K |
|
659
Nasdaq
NDAQ
$54.9B
| – | – |
-165
| Closed | -$7K |
|
660
Insperity
NSP
$2.02B
| – | – |
-36,940
| Closed | -$2.39M |
|
661
NetApp
NTAP
$37.7B
| – | – |
-100,704
| Closed | -$4.47M |
|
662
NetEase
NTES
$82.1B
| – | – |
-10,205
| Closed | -$876K |
|
663
NVR
NVR
$16.9B
| – | – |
-76
| Closed | -$248K |
|
664
New York Times
NYT
$10.6B
| – | – |
-37,478
| Closed | -$1.57M |
|
|
ODP
665
DELISTED
ODP
ODP
| – | – |
-58,639
| Closed | -$1.38M |
|
666
Oceaneering
OII
$5.28B
| – | – |
-96,721
| Closed | -$618K |
|
667
Okta
OKTA
$23.5B
| – | – |
-3,266
| Closed | -$654K |
|
668
ON Semiconductor
ON
$28.9B
| – | – |
-20,247
| Closed | -$401K |
|
669
Bank OZK
OZK
$5.39B
| – | – |
-17,592
| Closed | -$413K |
|
670
Palo Alto Networks
PANW
$292B
| – | – |
-55,170
| Closed | -$2.11M |
|
671
Petrobras
PBR
$123B
| – | – |
-121,094
| Closed | -$1M |
|
672
Public Service Enterprise Group
PEG
$36.2B
| – | – |
-4,547
| Closed | -$224K |
|
673
Progressive
PGR
$127B
| – | – |
-2,687
| Closed | -$215K |
|
674
Children's Place
PLCE
$55.4M
| – | – |
-94,630
| Closed | -$3.54M |
|
675
PNC Financial Services
PNC
$97B
| – | – |
-17,980
| Closed | -$1.89M |
|
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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.