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
|
+$584M |
| 2 |
Pfizer
PFE
|
+$343M |
| 3 |
WCN
Waste Connections
WCN
|
+$320M |
| 4 |
American Express
AXP
|
+$294M |
| 5 |
Universal Health Services
UHS
|
+$238M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Liberty Global Class C
LBTYK
|
+$213M |
| 2 |
Newell Brands
NWL
|
+$185M |
| 3 |
Adobe
ADBE
|
+$177M |
| 4 |
KSU
Kansas City Southern
KSU
|
+$161M |
| 5 |
UnitedHealth
UNH
|
+$147M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.49% |
| 2 | Healthcare | 19.14% |
| 3 | Industrials | 16.44% |
| 4 | Communication Services | 11.2% |
| 5 | Consumer Staples | 10.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Biogen
BIIB
$32B
| $2.66M | 0.04% |
11,010
+1,640
| +18% | +$432K |
|
77
Expeditors International
EXPD
$24.4B
| $2.63M | 0.04% |
53,630
+16,690
| +45% | +$810K |
|
78
eBay
EBAY
$46.3B
| $2.52M | 0.03% |
107,500
+33,400
| +45% | +$806K |
|
|
DFS
79
DELISTED
Discover Financial Services
DFS
| $2.48M | 0.03% |
46,360
+10,110
| +28% | +$550K |
|
80
Strategy Inc
MSTR
$47.4B
| $2.44M | 0.03% |
139,100
+34,200
| +33% | +$630K |
|
81
United Airlines
UAL
$36.7B
| $2.4M | 0.03% |
58,500
+27,660
| +90% | +$1.31M |
|
|
SPR
82
DELISTED
Spirit AeroSystems
SPR
| $2.38M | 0.03% |
55,370
+17,070
| +45% | +$786K |
|
|
SONC
83
DELISTED
Sonic Corp
SONC
| $2.38M | 0.03% |
87,810
+30,510
| +53% | +$975K |
|
84
Goodyear
GT
$1.72B
| $2.34M | 0.03% |
91,100
+35,230
| +63% | +$1.01M |
|
85
Liberty Latin America Class A
LILA
$1.66B
| $2.21M | 0.03% |
+106,923
| New | +$2.52M |
|
86
Yelp
YELP
$1.27B
| $2.03M | 0.03% |
66,760
-5,361,155
| -99% | -$130M |
|
87
Kraft Heinz
KHC
$30.3B
| $2.01M | 0.03% |
22,740
-1,626,206
| -99% | -$134M |
|
|
88
UnitedHealth
UNH
$350B
| $1.84M | 0.02% |
13,010
-1,102,269
| -99% | -$147M |
|
89
Sanofi
SNY
$110B
| $1.79M | 0.02% |
+42,790
| New | +$1.75M |
|
90
Sabesp
SBS
$16.2B
| $1.53M | 0.02% |
+881,508
| New | +$1.29M |
|
91
TAL Education Group
TAL
$6.28B
| $1.45M | 0.02% |
+139,740
| New | +$1.28M |
|
92
Capri Holdings
CPRI
$1.55B
| $1.44M | 0.02% |
29,130
+9,660
| +50% | +$474K |
|
93
Banco Macro
BMA
$4.66B
| $1.38M | 0.02% |
+18,560
| New | +$1.22M |
|
94
NetEase
NTES
$82.1B
| $1.35M | 0.02% |
34,950
-6,000
| -15% | -$187K |
|
95
A.O. Smith
AOS
$8.57B
| $1.33M | 0.02% |
30,240
-900
| -3% | -$36.3K |
|
96
Huazhu Hotels Group
HTHT
$15.1B
| $1.33M | 0.02% |
+145,920
| New | +$1.29M |
|
97
TSMC
TSM
$2.17T
| $1.32M | 0.02% |
50,500
+3,680
| +8% | +$91.8K |
|
98
Galicia Financial Group
GGAL
$6.66B
| $1.31M | 0.02% |
+42,920
| New | +$1.24M |
|
99
POSCO
PKX
$17.3B
| $1.26M | 0.02% |
+28,350
| New | +$1.33M |
|
100
Cigna
CI
$73.3B
| $1.24M | 0.02% |
9,710
+2,010
| +26% | +$265K |
|
Similar funds
Lee Ainslie's Q2 2016 Portfolio in Review
As of Q2 2016, Lee Ainslie held 164 positions worth $7.37B, up 17% from $6.32B the previous quarter. Its ten largest holdings account for 62% of the portfolio.
Lee Ainslie deployed $903M of net new capital in Q2 2016, opening 32 new positions and adding to 76 existing holdings. Its largest new stake was Philip Morris: 5,851,537 shares worth $595M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 29% a quarter earlier, followed by Healthcare and Industrials.
On the sell side, the largest reduction was Liberty Global Class C, an estimated $213M trimmed.
- Lee Ainslie's largest Q2 2016 buy was Philip Morris: 5,851,537 shares worth $595M.
- Lee Ainslie added most to Pfizer in Q2 2016, an estimated $343M increase.
- Lee Ainslie's biggest Q2 2016 reduction was Liberty Global Class C, cutting an estimated $213M.
- Lee Ainslie fully exited Sensata Technologies in Q2 2016, selling an estimated $137M.
- Lee Ainslie's ten largest holdings make up 62% of its $7.37B portfolio in Q2 2016.
- Lee Ainslie opened 32 new positions and closed 32 in Q2 2016.
- Lee Ainslie's portfolio value rose 17% quarter-over-quarter to $7.37B.
Based on Maverick Capital's 13F filing for Q2 2016, filed 15 Aug 2016.