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 |
Dollar Tree
DLTR
|
+$376M |
| 2 |
Walt Disney
DIS
|
+$372M |
| 3 |
Mastercard
MA
|
+$204M |
| 4 |
Mohawk Industries
MHK
|
+$93.9M |
| 5 |
T-Mobile US
TMUS
|
+$91.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Visa
V
|
+$223M |
| 2 |
Universal Health Services
UHS
|
+$120M |
| 3 |
Meta Platforms (Facebook)
META
|
+$111M |
| 4 |
EVHC
Envision Healthcare Holdings Inc
EVHC
|
+$110M |
| 5 |
Molson Coors Class B
TAP
|
+$81.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 21.29% |
| 2 | Technology | 18.75% |
| 3 | Consumer Discretionary | 18.68% |
| 4 | Healthcare | 16.13% |
| 5 | Consumer Staples | 8.3% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Gray Television
GTN
$509M
| $10.1M | 0.12% |
641,770
-9,553
| -1% | -$115K |
|
77
Grand Canyon Education
LOPE
$3.84B
| $10.1M | 0.12% |
90,840
-32,780
| -27% | -$3.6M |
|
78
NVIDIA
NVDA
$5.2T
| $10.1M | 0.12% |
1,711,200
-350,400
| -17% | -$2.13M |
|
|
EA
79
DELISTED
Electronic Arts
EA
| $10.1M | 0.12% |
71,850
-34,820
| -33% | -$4.52M |
|
80
Collegium Pharmaceutical
COLL
$840M
| $10.1M | 0.12% |
+424,590
| New | +$10.4M |
|
81
Zoetis
ZTS
$32.1B
| $10.1M | 0.12% |
118,600
+99,680
| +527% | +$8.42M |
|
82
Warrior Met Coal
HCC
$5.64B
| $9.92M | 0.12% |
+359,890
| New | +$9.48M |
|
83
Generac Holdings
GNRC
$12.2B
| $9.87M | 0.12% |
190,700
-68,170
| -26% | -$3.31M |
|
84
AMC Entertainment Holdings
AMC
$2.28B
| $9.85M | 0.12% |
61,922
+43,035
| +228% | +$6.93M |
|
|
VMW
85
DELISTED
VMware, Inc
VMW
| $9.71M | 0.11% |
66,070
-18,780
| -22% | -$2.59M |
|
|
DNB
86
DELISTED
Dun & Bradstreet
DNB
| $9.59M | 0.11% |
+78,210
| New | +$9.52M |
|
87
Evercore
EVR
$11.2B
| $9.52M | 0.11% |
+90,290
| New | +$9.31M |
|
|
VRS
88
DELISTED
Verso Corporation
VRS
| $9.5M | 0.11% |
+436,650
| New | +$8.33M |
|
89
Lear
LEA
$8.56B
| $9.48M | 0.11% |
51,010
-13,350
| -21% | -$2.61M |
|
90
Commault Systems
CVLT
$5.55B
| $9.46M | 0.11% |
+143,740
| New | +$9.88M |
|
91
KKR & Co
KKR
$97.4B
| $9.17M | 0.11% |
368,860
+50,380
| +16% | +$1.12M |
|
|
SNV
92
DELISTED
Synovus
SNV
| $9.09M | 0.11% |
+172,100
| New | +$9.15M |
|
93
Carter's
CRI
$1.31B
| $9.04M | 0.11% |
83,360
+41,380
| +99% | +$4.45M |
|
94
Johnson & Johnson
JNJ
$651B
| $8.96M | 0.1% |
73,820
-25,000
| -25% | -$3.12M |
|
95
Columbia Sportswear
COLM
$3.09B
| $8.79M | 0.1% |
96,140
-76,000
| -44% | -$6.48M |
|
96
Booking.com
BKNG
$158B
| $8.72M | 0.1% |
107,550
-27,650
| -20% | -$2.33M |
|
97
eBay
EBAY
$46.3B
| $8.56M | 0.1% |
235,960
-60,240
| -20% | -$2.34M |
|
98
Nucor
NUE
$55.3B
| $8.36M | 0.1% |
+133,820
| New | +$8.54M |
|
99
Morgan Stanley
MS
$336B
| $8.33M | 0.1% |
+175,770
| New | +$9.18M |
|
|
BIG
100
DELISTED
Big Lots, Inc.
BIG
| $8.29M | 0.1% |
+198,550
| New | +$8.34M |
|
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Lee Ainslie's Q2 2018 Portfolio in Review
As of Q2 2018, Lee Ainslie held 315 positions worth $8.55B, up 10% from $7.75B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Lee Ainslie deployed $387M of net new capital in Q2 2018, opening 97 new positions and adding to 49 existing holdings. Its largest new stake was Walt Disney: 3,640,348 shares worth $382M.
By sector, the portfolio is most concentrated in Communication Services at 21% of assets, up from 18% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Visa, an estimated $223M trimmed.
- Lee Ainslie's largest Q2 2018 buy was Walt Disney: 3,640,348 shares worth $382M.
- Lee Ainslie added most to Dollar Tree in Q2 2018, an estimated $376M increase.
- Lee Ainslie's biggest Q2 2018 reduction was Visa, cutting an estimated $223M.
- Lee Ainslie fully exited Molson Coors Class B in Q2 2018, selling an estimated $81.5M.
- Lee Ainslie's ten largest holdings make up 43% of its $8.55B portfolio in Q2 2018.
- Lee Ainslie opened 97 new positions and closed 80 in Q2 2018.
- Lee Ainslie's portfolio value rose 10% quarter-over-quarter to $8.55B.
Based on Maverick Capital's 13F filing for Q2 2018, filed 14 Aug 2018.