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 |
Liberty Global Class C
LBTYK
|
+$299M |
| 2 |
Pfizer
PFE
|
+$234M |
| 3 |
ARRS
ARRIS International plc Ordinary Shares
ARRS
|
+$224M |
| 4 |
PF
Pinnacle Foods, Inc.
PF
|
+$167M |
| 5 |
CIT
CIT Group Inc.
CIT
|
+$157M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KRFT
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
|
+$443M |
| 2 |
Booking.com
BKNG
|
+$375M |
| 3 |
AGN
Allergan plc
AGN
|
+$270M |
| 4 |
Broadcom
AVGO
|
+$193M |
| 5 |
Baidu
BIDU
|
+$159M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.23% |
| 2 | Industrials | 21.39% |
| 3 | Communication Services | 16.93% |
| 4 | Financials | 12.59% |
| 5 | Healthcare | 11.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Cigna
CI
$73.3B
| $655K | 0.01% |
+4,850
| New | +$704K |
|
77
ManpowerGroup
MAN
$2.86B
| $644K | 0.01% |
+7,860
| New | +$700K |
|
|
EXPR
78
DELISTED
Express, Inc.
EXPR
| $599K | 0.01% |
+1,676
| New | +$630K |
|
79
JetBlue
JBLU
$1.85B
| $285K | ﹤0.01% |
11,070
-1,980
| -15% | -$46.7K |
|
|
LOGM
80
DELISTED
LogMein, Inc.
LOGM
| $282K | ﹤0.01% |
4,140
| – | – |
|
81
Chipotle Mexican Grill
CMG
$46.7B
| $281K | ﹤0.01% |
19,500
| – | – |
|
|
AFSI
82
DELISTED
AmTrust Financial Services, Inc.
AFSI
| $275K | ﹤0.01% |
8,740
| – | – |
|
|
CHMT
83
DELISTED
Chemtura Corporation
CHMT
| $271K | ﹤0.01% |
9,470
| – | – |
|
84
Delta Air Lines
DAL
$54.2B
| $263K | ﹤0.01% |
5,870
| – | – |
|
85
Assurant
AIZ
$14B
| $262K | ﹤0.01% |
+3,320
| New | +$248K |
|
86
Alaska Air
ALK
$4.51B
| $262K | ﹤0.01% |
3,300
-880
| -21% | -$67.2K |
|
87
Domino's
DPZ
$11.3B
| $261K | ﹤0.01% |
2,420
| – | – |
|
88
Bath & Body Works
BBWI
$3.92B
| $260K | ﹤0.01% |
3,575
| – | – |
|
89
Intuit
INTU
$100B
| $256K | ﹤0.01% |
2,880
+360
| +14% | +$34.9K |
|
90
Southwest Airlines
LUV
$19.8B
| $256K | ﹤0.01% |
6,730
-370
| -5% | -$13.7K |
|
91
Costco
COST
$420B
| $254K | ﹤0.01% |
1,760
| – | – |
|
92
Expedia Group
EXPE
$38.6B
| $252K | ﹤0.01% |
2,140
-310
| -13% | -$35.7K |
|
93
Cisco
CSCO
$438B
| $251K | ﹤0.01% |
9,550
+560
| +6% | +$15.1K |
|
|
CLGX
94
DELISTED
Corelogic, Inc.
CLGX
| $251K | ﹤0.01% |
6,750
| – | – |
|
95
General Dynamics
GD
$104B
| $250K | ﹤0.01% |
1,810
| – | – |
|
96
Lowe's Companies
LOW
$121B
| $250K | ﹤0.01% |
3,630
| – | – |
|
97
Meta Platforms (Facebook)
META
$1.4T
| $248K | ﹤0.01% |
2,760
-440
| -14% | -$40.4K |
|
98
Allstate
ALL
$64.2B
| $247K | ﹤0.01% |
4,240
+340
| +9% | +$21.3K |
|
99
Home Depot
HD
$335B
| $245K | ﹤0.01% |
2,120
-150
| -7% | -$17.4K |
|
|
DCH
100
Dauch Corp
DCH
$1.63B
| $244K | ﹤0.01% |
12,230
+1,750
| +17% | +$35.4K |
|
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Lee Ainslie's Q3 2015 Portfolio in Review
As of Q3 2015, Lee Ainslie held 141 positions worth $5.84B, down 11% from $6.55B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Lee Ainslie withdrew a net $275M in Q3 2015, closing 25 positions and reducing 19 holdings. Its most notable exit was KRAFT FOODS GROUP INC COM STK (VA), an estimated $443M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 21% a quarter earlier, followed by Industrials and Communication Services.
Against the trend, Lee Ainslie opened a new position in Pfizer worth $218M.
- Lee Ainslie's largest Q3 2015 buy was Pfizer: 7,312,576 shares worth $218M.
- Lee Ainslie added most to Liberty Global Class C in Q3 2015, an estimated $299M increase.
- Lee Ainslie's biggest Q3 2015 reduction was Booking.com, cutting an estimated $375M.
- Lee Ainslie fully exited KRAFT FOODS GROUP INC COM STK (VA) in Q3 2015, selling an estimated $443M.
- Lee Ainslie's ten largest holdings make up 56% of its $5.84B portfolio in Q3 2015.
- Lee Ainslie opened 21 new positions and closed 25 in Q3 2015.
- Lee Ainslie's portfolio value fell 11% quarter-over-quarter to $5.84B.
Based on Maverick Capital's 13F filing for Q3 2015, filed 16 Nov 2015.