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 |
Visa
V
|
+$121M |
| 2 |
Workday
WDAY
|
+$100M |
| 3 |
Lam Research
LRCX
|
+$60M |
| 4 |
Rocket Pharmaceuticals
RCKT
|
+$54.1M |
| 5 |
Sea Limited
SE
|
+$52.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Coupang
CPNG
|
+$201M |
| 2 |
Alibaba
BABA
|
+$102M |
| 3 |
Meta Platforms (Facebook)
META
|
+$56.4M |
| 4 |
Alnylam Pharmaceuticals
ALNY
|
+$54.2M |
| 5 |
Aon
AON
|
+$51.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 40.52% |
| 2 | Healthcare | 15.55% |
| 3 | Technology | 14.19% |
| 4 | Communication Services | 7.61% |
| 5 | Financials | 5.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
726
Littelfuse
LFUS
$10.5B
| – | – |
-4,277
| Closed | -$1.09M |
|
727
LGI Homes
LGIH
$1.35B
| – | – |
-189
| Closed | -$31K |
|
728
LKQ Corp
LKQ
$6.52B
| – | – |
-22,948
| Closed | -$1.13M |
|
729
Lockheed Martin
LMT
$130B
| – | – |
-334
| Closed | -$126K |
|
730
Lincoln National
LNC
$8.07B
| – | – |
-767
| Closed | -$48K |
|
731
lululemon athletica
LULU
$13.7B
| – | – |
-326
| Closed | -$119K |
|
732
Lamb Weston
LW
$7.38B
| – | – |
-1,609
| Closed | -$130K |
|
733
Lloyds Banking Group
LYG
$87.3B
| – | – |
-420,716
| Closed | -$1.07M |
|
734
La-Z-Boy
LZB
$1.35B
| – | – |
-15,167
| Closed | -$562K |
|
735
McDonald's
MCD
$192B
| – | – |
-16,434
| Closed | -$3.8M |
|
736
Medifast
MED
$134M
| – | – |
-1,750
| Closed | -$495K |
|
737
MillerKnoll
MLKN
$1.57B
| – | – |
-22,957
| Closed | -$1.08M |
|
738
Altria Group
MO
$110B
| – | – |
-29,199
| Closed | -$1.39M |
|
|
MOMO
739
Hello Group
MOMO
$850M
| – | – |
-11,188
| Closed | -$171K |
|
740
The Mosaic Company
MOS
$7.76B
| – | – |
-29,115
| Closed | -$929K |
|
741
Marathon Petroleum
MPC
$101B
| – | – |
-5,850
| Closed | -$353K |
|
742
Marvell Technology
MRVL
$213B
| – | – |
-333
| Closed | -$19K |
|
743
Morgan Stanley
MS
$336B
| – | – |
-1,729
| Closed | -$159K |
|
744
MSC Industrial Direct
MSM
$6.69B
| – | – |
-1,274
| Closed | -$114K |
|
745
ArcelorMittal
MT
$54.4B
| – | – |
-1,171
| Closed | -$36K |
|
746
Murphy USA
MUSA
$10.5B
| – | – |
-1,686
| Closed | -$225K |
|
747
Ingevity
NGVT
$2.42B
| – | – |
-13,729
| Closed | -$1.12M |
|
748
Northrop Grumman
NOC
$78.3B
| – | – |
-2,639
| Closed | -$959K |
|
749
NRG Energy
NRG
$23.8B
| – | – |
-5,940
| Closed | -$239K |
|
750
Insperity
NSP
$2.02B
| – | – |
-803
| Closed | -$73K |
|
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Lee Ainslie's Q3 2021 Portfolio in Review
As of Q3 2021, Lee Ainslie held 869 positions worth $9.92B, down 6.9% from $10.6B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Lee Ainslie deployed $866M of net new capital in Q3 2021, opening 208 new positions and adding to 234 existing holdings. Its largest new stake was Instructure Holdings, Inc.: 1,250,000 shares worth $28.2M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 41% of assets, down from 53% a quarter earlier, followed by Healthcare and Technology.
On the sell side, the largest reduction was Coupang, an estimated $201M trimmed.
- Lee Ainslie's largest Q3 2021 buy was Instructure Holdings, Inc.: 1,250,000 shares worth $28.2M.
- Lee Ainslie added most to Visa in Q3 2021, an estimated $121M increase.
- Lee Ainslie's biggest Q3 2021 reduction was Coupang, cutting an estimated $201M.
- Lee Ainslie fully exited Alibaba in Q3 2021, selling an estimated $102M.
- Lee Ainslie's ten largest holdings make up 52% of its $9.92B portfolio in Q3 2021.
- Lee Ainslie opened 208 new positions and closed 244 in Q3 2021.
- Lee Ainslie's portfolio value fell 6.9% quarter-over-quarter to $9.92B.
Based on Maverick Capital's 13F filing for Q3 2021, filed 15 Nov 2021.