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 |
ANDV
Andeavor
ANDV
|
+$282M |
| 2 |
EVHC
Envision Healthcare Holdings Inc
EVHC
|
+$205M |
| 3 |
AB InBev
BUD
|
+$153M |
| 4 |
US Bancorp
USB
|
+$148M |
| 5 |
US Foods
USFD
|
+$129M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$522M |
| 2 |
Lam Research
LRCX
|
+$209M |
| 3 |
Corpay
CPAY
|
+$206M |
| 4 |
TransDigm Group
TDG
|
+$193M |
| 5 |
American Express
AXP
|
+$182M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 29.95% |
| 2 | Technology | 20.52% |
| 3 | Consumer Staples | 13.38% |
| 4 | Communication Services | 10.94% |
| 5 | Materials | 6.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
VMW
51
DELISTED
VMware, Inc
VMW
| $2.9M | 0.04% |
31,490
-7,650
| -20% | -$673K |
|
52
Parker-Hannifin
PH
$126B
| $2.89M | 0.04% |
+18,050
| New | +$2.74M |
|
53
AbbVie
ABBV
$468B
| $2.89M | 0.04% |
44,400
-6,520
| -13% | -$410K |
|
54
Baxter International
BAX
$13.6B
| $2.89M | 0.04% |
55,790
-15,610
| -22% | -$768K |
|
|
PARA
55
DELISTED
Paramount Global Class B
PARA
| $2.89M | 0.04% |
41,710
-11,110
| -21% | -$729K |
|
56
Take-Two Interactive
TTWO
$44.8B
| $2.89M | 0.04% |
+48,780
| New | +$2.72M |
|
|
CSFL
57
DELISTED
CenterState Bank Corporation Common Stock
CSFL
| $2.88M | 0.04% |
+111,250
| New | +$2.79M |
|
58
Johnson & Johnson
JNJ
$651B
| $2.88M | 0.04% |
23,120
-5,410
| -19% | -$646K |
|
59
SLM Corp
SLM
$4.97B
| $2.88M | 0.04% |
+237,910
| New | +$2.82M |
|
60
HCA Healthcare
HCA
$92.9B
| $2.87M | 0.04% |
32,270
-12,460
| -28% | -$1.04M |
|
61
S&P Global
SPGI
$127B
| $2.86M | 0.04% |
21,880
-5,120
| -19% | -$637K |
|
62
McDonald's
MCD
$192B
| $2.86M | 0.04% |
22,050
-4,220
| -16% | -$530K |
|
63
LPL Financial
LPLA
$28.5B
| $2.85M | 0.04% |
+71,650
| New | +$2.82M |
|
64
Hershey
HSY
$37.5B
| $2.84M | 0.04% |
+26,030
| New | +$2.79M |
|
65
TJX Companies
TJX
$155B
| $2.84M | 0.04% |
71,740
-9,240
| -11% | -$356K |
|
66
Mercado Libre
MELI
$97.5B
| $2.83M | 0.04% |
13,400
-7,070
| -35% | -$1.38M |
|
67
F5
FFIV
$21.8B
| $2.83M | 0.04% |
19,850
-2,820
| -12% | -$402K |
|
|
ETFC
68
DELISTED
E*Trade Financial Corporation
ETFC
| $2.83M | 0.04% |
+80,980
| New | +$2.9M |
|
69
Allison Transmission
ALSN
$11B
| $2.82M | 0.04% |
+78,160
| New | +$2.79M |
|
70
Lear
LEA
$8.56B
| $2.81M | 0.04% |
19,820
-5,070
| -20% | -$719K |
|
71
Nexstar Media Group
NXST
$5.73B
| $2.8M | 0.04% |
39,960
-14,610
| -27% | -$979K |
|
|
Y
72
DELISTED
Alleghany Corp
Y
| $2.79M | 0.04% |
4,540
-1,270
| -22% | -$792K |
|
73
Valero Energy
VLO
$100B
| $2.79M | 0.04% |
42,030
-10,300
| -20% | -$689K |
|
|
AMTD
74
DELISTED
TD Ameritrade Holding Corp
AMTD
| $2.79M | 0.04% |
+71,660
| New | +$3.05M |
|
|
XLNX
75
DELISTED
Xilinx Inc
XLNX
| $2.78M | 0.04% |
48,070
-9,770
| -17% | -$574K |
|
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Lee Ainslie's Q1 2017 Portfolio in Review
As of Q1 2017, Lee Ainslie held 160 positions worth $7.84B, up 2% from $7.69B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Lee Ainslie withdrew a net $454M in Q1 2017, closing 30 positions and reducing 74 holdings. Its most notable exit was TransDigm Group, an estimated $193M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 30% of assets, up from 29% a quarter earlier, followed by Technology and Consumer Staples.
Against the trend, Lee Ainslie opened a new position in Envision Healthcare Holdings Inc worth $188M.
- Lee Ainslie's largest Q1 2017 buy was Envision Healthcare Holdings Inc: 3,065,266 shares worth $188M.
- Lee Ainslie added most to Andeavor in Q1 2017, an estimated $282M increase.
- Lee Ainslie's biggest Q1 2017 reduction was Booking.com, cutting an estimated $522M.
- Lee Ainslie fully exited TransDigm Group in Q1 2017, selling an estimated $193M.
- Lee Ainslie's ten largest holdings make up 58% of its $7.84B portfolio in Q1 2017.
- Lee Ainslie opened 36 new positions and closed 30 in Q1 2017.
- Lee Ainslie's portfolio value rose 2% quarter-over-quarter to $7.84B.
Based on Maverick Capital's 13F filing for Q1 2017, filed 15 May 2017.