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 |
Philip Morris
PM
|
+$135M |
| 2 |
Alibaba
BABA
|
+$76M |
| 3 |
Union Pacific
UNP
|
+$70.9M |
| 4 |
ABCM
Abcam PLC
ABCM
|
+$44.7M |
| 5 |
Seagate
STX
|
+$41.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Netflix
NFLX
|
+$90.9M |
| 2 |
BNY
Bank of New York Mellon
BNY
|
+$69.7M |
| 3 |
Constellation Energy
CEG
|
+$64.4M |
| 4 |
Constellation Brands
STZ
|
+$62.5M |
| 5 |
NVIDIA
NVDA
|
+$52.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 40.44% |
| 2 | Technology | 17.92% |
| 3 | Healthcare | 12.53% |
| 4 | Consumer Staples | 7.21% |
| 5 | Financials | 6.97% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Bath & Body Works
BBWI
$3.92B
| $3.6M | 0.08% |
+106,621
| New | +$3.87M |
|
52
American Eagle Outfitters
AEO
$2.71B
| $3.37M | 0.08% |
203,004
-89,759
| -31% | -$1.33M |
|
53
Williams-Sonoma
WSM
$28B
| $3.37M | 0.08% |
+43,328
| New | +$2.98M |
|
54
Wingstop
WING
$3.14B
| $3.26M | 0.07% |
+18,131
| New | +$3.13M |
|
55
Caribou Biosciences
CRBU
$178M
| $3.12M | 0.07% |
652,542
| – | – |
|
56
Cisco
CSCO
$438B
| $2.75M | 0.06% |
51,160
-65,925
| -56% | -$3.56M |
|
57
ServiceNow
NOW
$133B
| $2.6M | 0.06% |
+23,235
| New | +$2.65M |
|
58
Dave & Buster's
PLAY
$357M
| $2.56M | 0.06% |
69,068
+45,940
| +199% | +$1.88M |
|
59
Procter & Gamble
PG
$336B
| $2.53M | 0.06% |
+17,349
| New | +$2.65M |
|
60
Abbott
ABT
$202B
| $2.4M | 0.05% |
+24,783
| New | +$2.6M |
|
61
AutoZone
AZO
$48.3B
| $2.38M | 0.05% |
+936
| New | +$2.35M |
|
62
Alphabet (Google) Class A
GOOGL
$4.22T
| $2.35M | 0.05% |
17,992
-4,065
| -18% | -$526K |
|
63
Fortinet
FTNT
$113B
| $2.32M | 0.05% |
39,602
-20,111
| -34% | -$1.33M |
|
64
Spotify
SPOT
$110B
| $2.3M | 0.05% |
14,899
+59
| +0.4% | +$8.99K |
|
65
Sprouts Farmers Market
SFM
$7.56B
| $2.3M | 0.05% |
+53,732
| New | +$2.11M |
|
66
Expedia Group
EXPE
$38.6B
| $2.28M | 0.05% |
22,092
-145,750
| -87% | -$16.1M |
|
67
HP
HPQ
$27.2B
| $2.27M | 0.05% |
+88,500
| New | +$2.72M |
|
68
Cheesecake Factory
CAKE
$5.64B
| $2.25M | 0.05% |
74,113
-43,957
| -37% | -$1.47M |
|
69
National Vision
EYE
$1.41B
| $2.24M | 0.05% |
138,619
+85,766
| +162% | +$1.72M |
|
70
PepsiCo
PEP
$196B
| $2.12M | 0.05% |
+12,514
| New | +$2.27M |
|
71
Urban Outfitters
URBN
$6.36B
| $2.12M | 0.05% |
64,780
-42,708
| -40% | -$1.46M |
|
72
Dollar General
DG
$27.2B
| $2.1M | 0.05% |
+19,852
| New | +$2.96M |
|
73
Ralph Lauren
RL
$22.2B
| $2.05M | 0.05% |
+17,689
| New | +$2.14M |
|
74
Adobe
ADBE
$109B
| $2.05M | 0.05% |
4,027
+3,543
| +732% | +$1.86M |
|
75
Casey's General Stores
CASY
$30.9B
| $2M | 0.05% |
+7,371
| New | +$1.87M |
|
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Lee Ainslie's Q3 2023 Portfolio in Review
As of Q3 2023, Lee Ainslie held 530 positions worth $4.43B, down 5.6% from $4.69B the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Lee Ainslie withdrew a net $172M in Q3 2023, closing 229 positions and reducing 113 holdings. Its most notable exit was Netflix, an estimated $90.9M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 40% of assets, down from 41% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Lee Ainslie opened a new position in Alibaba worth $72M.
- Lee Ainslie's largest Q3 2023 buy was Alibaba: 830,459 shares worth $72M.
- Lee Ainslie added most to Philip Morris in Q3 2023, an estimated $135M increase.
- Lee Ainslie's biggest Q3 2023 reduction was Bank of New York Mellon, cutting an estimated $69.7M.
- Lee Ainslie fully exited Netflix in Q3 2023, selling an estimated $90.9M.
- Lee Ainslie's ten largest holdings make up 57% of its $4.43B portfolio in Q3 2023.
- Lee Ainslie opened 138 new positions and closed 229 in Q3 2023.
- Lee Ainslie's portfolio value fell 5.6% quarter-over-quarter to $4.43B.
Based on Maverick Capital's 13F filing for Q3 2023, filed 14 Nov 2023.