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 | |
|---|---|---|---|---|---|---|
76
Crown Castle
CCI
$32.1B
| $1.97M | 0.04% |
+21,440
| New | +$2.22M |
|
77
DraftKings
DKNG
$13B
| $1.89M | 0.04% |
+64,071
| New | +$1.89M |
|
78
Advanced Micro Devices
AMD
$773B
| $1.83M | 0.04% |
17,818
-9,647
| -35% | -$1.05M |
|
79
TripAdvisor
TRIP
$1.17B
| $1.74M | 0.04% |
105,039
+82,621
| +369% | +$1.35M |
|
80
Brinker International
EAT
$10.6B
| $1.72M | 0.04% |
54,435
-18,408
| -25% | -$644K |
|
81
Micron Technology
MU
$1.09T
| $1.7M | 0.04% |
25,005
-8,744
| -26% | -$586K |
|
82
United Parks & Resorts
PRKS
$2.06B
| $1.7M | 0.04% |
+36,679
| New | +$1.86M |
|
83
FedEx
FDX
$76.9B
| $1.68M | 0.04% |
6,352
+3,935
| +163% | +$1.02M |
|
84
Starbucks
SBUX
$122B
| $1.65M | 0.04% |
+18,108
| New | +$1.78M |
|
85
Sherwin-Williams
SHW
$84.1B
| $1.65M | 0.04% |
6,450
-7,061
| -52% | -$1.89M |
|
86
Hain Celestial
HAIN
$71.6M
| $1.63M | 0.04% |
157,483
+60,815
| +63% | +$703K |
|
87
Molson Coors Class B
TAP
$8.01B
| $1.62M | 0.04% |
25,526
-30,826
| -55% | -$2.01M |
|
88
Equinix
EQIX
$105B
| $1.6M | 0.04% |
+2,203
| New | +$1.71M |
|
|
JWN
89
DELISTED
Nordstrom
JWN
| $1.59M | 0.04% |
106,530
-155,794
| -59% | -$2.86M |
|
90
CVS Health
CVS
$119B
| $1.58M | 0.04% |
22,676
+6,916
| +44% | +$490K |
|
91
Coca-Cola
KO
$392B
| $1.55M | 0.03% |
+27,629
| New | +$1.66M |
|
92
B&G Foods
BGS
$281M
| $1.53M | 0.03% |
154,691
+63,497
| +70% | +$787K |
|
93
Chipotle Mexican Grill
CMG
$46.7B
| $1.52M | 0.03% |
41,400
-54,700
| -57% | -$2.13M |
|
94
Church & Dwight Co
CHD
$23.4B
| $1.48M | 0.03% |
16,175
-18,830
| -54% | -$1.8M |
|
95
Papa John's
PZZA
$788M
| $1.46M | 0.03% |
21,349
+3,752
| +21% | +$290K |
|
96
Booking.com
BKNG
$158B
| $1.43M | 0.03% |
+11,600
| New | +$1.4M |
|
97
Merck
MRK
$376B
| $1.43M | 0.03% |
13,851
+8,349
| +152% | +$900K |
|
|
FL
98
DELISTED
Foot Locker
FL
| $1.42M | 0.03% |
81,874
+38,980
| +91% | +$872K |
|
99
United Parcel Service
UPS
$86.8B
| $1.39M | 0.03% |
+8,903
| New | +$1.54M |
|
100
American Airlines Group
AAL
$9.15B
| $1.35M | 0.03% |
+105,355
| New | +$1.64M |
|
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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.