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 |
O'Reilly Automotive
ORLY
|
+$271M |
| 2 |
LVLT
Level 3 Communications Inc
LVLT
|
+$235M |
| 3 |
Universal Health Services
UHS
|
+$230M |
| 4 |
Dollar General
DG
|
+$226M |
| 5 |
Apple
AAPL
|
+$210M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aramark
ARMK
|
+$227M |
| 2 |
AGN
Allergan plc
AGN
|
+$203M |
| 3 |
Adobe
ADBE
|
+$148M |
| 4 |
Meta Platforms (Facebook)
META
|
+$132M |
| 5 |
Lam Research
LRCX
|
+$83.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.64% |
| 2 | Healthcare | 19.39% |
| 3 | Consumer Staples | 14.43% |
| 4 | Industrials | 14.34% |
| 5 | Consumer Discretionary | 10.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Cadence Design Systems
CDNS
$87.9B
| $1.22M | 0.01% |
47,710
-2,640
| -5% | -$66K |
|
|
EXPR
102
DELISTED
Express, Inc.
EXPR
| $1.2M | 0.01% |
5,082
+802
| +19% | +$217K |
|
103
ManpowerGroup
MAN
$2.86B
| $1.2M | 0.01% |
16,540
+1,100
| +7% | +$75.8K |
|
104
Elevance Health
ELV
$86.9B
| $1.19M | 0.01% |
9,480
+180
| +2% | +$23.2K |
|
|
CTXS
105
DELISTED
Citrix Systems Inc
CTXS
| $1.19M | 0.01% |
17,456
-954
| -5% | -$65K |
|
106
Jazz Pharmaceuticals
JAZZ
$16.5B
| $1.18M | 0.01% |
9,710
+1,500
| +18% | +$202K |
|
107
Capri Holdings
CPRI
$1.55B
| $1.15M | 0.01% |
24,560
-4,570
| -16% | -$228K |
|
|
NBIS
108
Nebius Group N.V.
NBIS
$59.6B
| $1.15M | 0.01% |
+54,550
| New | +$1.19M |
|
109
Altisource Portfolio Solutions
ASPS
$62.6M
| $1.15M | 0.01% |
+4,418
| New | +$1.04M |
|
110
Delta Air Lines
DAL
$54.2B
| $662K | 0.01% |
16,810
+2,740
| +19% | +$104K |
|
111
Southwest Airlines
LUV
$19.8B
| $651K | 0.01% |
16,750
+2,360
| +16% | +$89.7K |
|
112
Mastercard
MA
$509B
| $650K | 0.01% |
6,390
| – | – |
|
113
Allstate
ALL
$64.2B
| $625K | 0.01% |
9,030
| – | – |
|
114
American Airlines Group
AAL
$9.15B
| $623K | 0.01% |
17,010
-2,140
| -11% | -$75.6K |
|
115
Cisco
CSCO
$438B
| $623K | 0.01% |
19,650
-1,700
| -8% | -$52.3K |
|
116
Gilead Sciences
GILD
$181B
| $623K | 0.01% |
7,880
+860
| +12% | +$69.9K |
|
117
Moody's
MCO
$87.2B
| $615K | 0.01% |
5,680
-610
| -10% | -$64.1K |
|
|
AET
118
DELISTED
Aetna Inc
AET
| $615K | 0.01% |
5,330
| – | – |
|
119
Alaska Air
ALK
$4.51B
| $606K | 0.01% |
9,200
| – | – |
|
120
Amgen
AMGN
$238B
| $606K | 0.01% |
3,630
-310
| -8% | -$52.4K |
|
121
Ameriprise Financial
AMP
$49.1B
| $600K | 0.01% |
6,010
| – | – |
|
122
Home Depot
HD
$335B
| $597K | 0.01% |
4,640
| – | – |
|
123
Bath & Body Works
BBWI
$3.92B
| $574K | 0.01% |
10,032
-990
| -9% | -$58.3K |
|
124
Lowe's Companies
LOW
$121B
| $570K | 0.01% |
7,900
+270
| +4% | +$21K |
|
125
Carter's
CRI
$1.31B
| $547K | 0.01% |
6,310
+240
| +4% | +$24.1K |
|
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Lee Ainslie's Q3 2016 Portfolio in Review
As of Q3 2016, Lee Ainslie held 163 positions worth $8.44B, up 15% from $7.37B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Lee Ainslie deployed $854M of net new capital in Q3 2016, opening 31 new positions and adding to 37 existing holdings. Its largest new stake was Dollar General: 2,662,092 shares worth $186M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Staples.
On the sell side, the largest reduction was Adobe, an estimated $148M trimmed.
- Lee Ainslie's largest Q3 2016 buy was Dollar General: 2,662,092 shares worth $186M.
- Lee Ainslie added most to O'Reilly Automotive in Q3 2016, an estimated $271M increase.
- Lee Ainslie's biggest Q3 2016 reduction was Adobe, cutting an estimated $148M.
- Lee Ainslie fully exited Aramark in Q3 2016, selling an estimated $227M.
- Lee Ainslie's ten largest holdings make up 60% of its $8.44B portfolio in Q3 2016.
- Lee Ainslie opened 31 new positions and closed 35 in Q3 2016.
- Lee Ainslie's portfolio value rose 15% quarter-over-quarter to $8.44B.
Based on Maverick Capital's 13F filing for Q3 2016, filed 14 Nov 2016.