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 |
Adobe
ADBE
|
+$285M |
| 2 |
Dollar Tree
DLTR
|
+$279M |
| 3 |
Corpay
CPAY
|
+$272M |
| 4 |
AET
Aetna Inc
AET
|
+$266M |
| 5 |
Meta Platforms (Facebook)
META
|
+$253M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Philip Morris
PM
|
+$666M |
| 2 |
Lam Research
LRCX
|
+$279M |
| 3 |
LVLT
Level 3 Communications Inc
LVLT
|
+$259M |
| 4 |
Northrop Grumman
NOC
|
+$254M |
| 5 |
Apple
AAPL
|
+$225M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 28.76% |
| 2 | Technology | 25.48% |
| 3 | Communication Services | 10.25% |
| 4 | Consumer Discretionary | 8.77% |
| 5 | Industrials | 7.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Capri Holdings
CPRI
$1.55B
| $1.12M | 0.01% |
26,160
+1,600
| +7% | +$76K |
|
|
JOYY
102
JOYY Inc
JOYY
$3.71B
| $1.12M | 0.01% |
+28,510
| New | +$1.34M |
|
103
TAL Education Group
TAL
$6.28B
| $1.12M | 0.01% |
96,000
-14,580
| -13% | -$178K |
|
104
Intuitive Surgical
ISRG
$134B
| $1.11M | 0.01% |
15,750
| – | – |
|
|
LGF.B
105
DELISTED
Lions Gate Entertainment Corp. Class B Non-Voting Shares
LGF.B
| $1.11M | 0.01% |
+45,106
| New | +$1.15M |
|
|
MOMO
106
Hello Group
MOMO
$850M
| $1.08M | 0.01% |
+58,690
| New | +$1.3M |
|
107
Weibo
WB
$1.73B
| $1.01M | 0.01% |
24,950
+410
| +2% | +$19.6K |
|
108
Alaska Air
ALK
$4.51B
| $687K | 0.01% |
7,740
-1,460
| -16% | -$115K |
|
109
Southwest Airlines
LUV
$19.8B
| $676K | 0.01% |
13,570
-3,180
| -19% | -$143K |
|
|
110
Apple
AAPL
$4.51T
| $671K | 0.01% |
23,160
-7,940,308
| -100% | -$225M |
|
111
Amgen
AMGN
$238B
| $668K | 0.01% |
4,570
+940
| +26% | +$141K |
|
112
Ameriprise Financial
AMP
$49.1B
| $667K | 0.01% |
6,010
| – | – |
|
113
American Airlines Group
AAL
$9.15B
| $661K | 0.01% |
14,160
-2,850
| -17% | -$124K |
|
114
Cisco
CSCO
$438B
| $661K | 0.01% |
21,860
+2,210
| +11% | +$67.4K |
|
115
Delta Air Lines
DAL
$54.2B
| $651K | 0.01% |
13,240
-3,570
| -21% | -$163K |
|
116
Home Depot
HD
$335B
| $646K | 0.01% |
4,820
+180
| +4% | +$23.2K |
|
117
Mastercard
MA
$509B
| $637K | 0.01% |
6,170
-220
| -3% | -$22.8K |
|
118
Allstate
ALL
$64.2B
| $635K | 0.01% |
8,570
-460
| -5% | -$32.4K |
|
119
Moody's
MCO
$87.2B
| $617K | 0.01% |
6,540
+860
| +15% | +$86.8K |
|
120
Gilead Sciences
GILD
$181B
| $610K | 0.01% |
8,520
+640
| +8% | +$47.6K |
|
121
Transocean
RIG
$6.61B
| $490K | 0.01% |
33,230
-3,240
| -9% | -$38.4K |
|
122
Check Point Software Technologies
CHKP
$13.3B
| $345K | ﹤0.01% |
4,080
-530
| -11% | -$43.5K |
|
123
Herbalife
HLF
$1.33B
| $343K | ﹤0.01% |
14,240
+2,580
| +22% | +$70.4K |
|
|
WW
124
DELISTED
WW International
WW
| $25K | ﹤0.01% |
+2,186
| New | +$23.5K |
|
125
Analog Devices
ADI
$182B
| – | – |
-50,120
| Closed | -$3.23M |
|
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Lee Ainslie's Q4 2016 Portfolio in Review
As of Q4 2016, Lee Ainslie held 156 positions worth $7.69B, down 8.9% from $8.44B the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Lee Ainslie withdrew a net $572M in Q4 2016, closing 32 positions and reducing 50 holdings. Its most notable exit was Level 3 Communications Inc, an estimated $259M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 29% of assets, up from 19% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Lee Ainslie opened a new position in Corpay worth $246M.
- Lee Ainslie's largest Q4 2016 buy was Corpay: 1,739,049 shares worth $246M.
- Lee Ainslie added most to Adobe in Q4 2016, an estimated $285M increase.
- Lee Ainslie's biggest Q4 2016 reduction was Philip Morris, cutting an estimated $666M.
- Lee Ainslie fully exited Level 3 Communications Inc in Q4 2016, selling an estimated $259M.
- Lee Ainslie's ten largest holdings make up 59% of its $7.69B portfolio in Q4 2016.
- Lee Ainslie opened 28 new positions and closed 32 in Q4 2016.
- Lee Ainslie's portfolio value fell 8.9% quarter-over-quarter to $7.69B.
Based on Maverick Capital's 13F filing for Q4 2016, filed 14 Feb 2017.