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 | |
|---|---|---|---|---|---|---|
|
ATH
126
DELISTED
Athene Holding Ltd. Class A Common Shares
ATH
| $7.32M | 0.09% |
+166,890
| New | +$7.82M |
|
127
Ally Financial
ALLY
$13.1B
| $7.3M | 0.09% |
277,880
-36,160
| -12% | -$965K |
|
|
CTXS
128
DELISTED
Citrix Systems Inc
CTXS
| $7.24M | 0.08% |
69,020
-30,640
| -31% | -$3.15M |
|
129
Jazz Pharmaceuticals
JAZZ
$16.5B
| $7.22M | 0.08% |
41,910
-20,450
| -33% | -$3.34M |
|
130
Liberty Global Class C
LBTYK
$3.55B
| $7.2M | 0.08% |
270,670
-32,150
| -11% | -$939K |
|
131
Tapestry
TPR
$26B
| $7.2M | 0.08% |
154,162
-376,568
| -71% | -$18.1M |
|
|
RDC
132
DELISTED
Rowan Companies Plc
RDC
| $7.2M | 0.08% |
443,940
-221,590
| -33% | -$3.33M |
|
133
Teradata
TDC
$2.58B
| $7.13M | 0.08% |
177,560
-43,120
| -20% | -$1.74M |
|
134
Texas Instruments
TXN
$241B
| $7.11M | 0.08% |
64,450
-20,560
| -24% | -$2.22M |
|
135
Boeing
BA
$169B
| $7.1M | 0.08% |
21,170
-13,080
| -38% | -$4.5M |
|
136
TIM SA
TIMB
$8.52B
| $7.08M | 0.08% |
+420,140
| New | +$8.25M |
|
|
BBL
137
DELISTED
BHP Group Plc American Depositary Shares (Each representing two Ordinary Shares)
BBL
| $7.08M | 0.08% |
157,410
-51,920
| -25% | -$2.28M |
|
138
SM Energy
SM
$8.85B
| $7.08M | 0.08% |
275,390
-121,220
| -31% | -$2.83M |
|
139
Expedia Group
EXPE
$38.6B
| $7.06M | 0.08% |
58,730
-27,070
| -32% | -$3.13M |
|
140
Align Technology
ALGN
$11.5B
| $7.04M | 0.08% |
20,590
-11,820
| -36% | -$3.53M |
|
141
New Oriental
EDU
$8.88B
| $7.01M | 0.08% |
74,110
-30,810
| -29% | -$2.95M |
|
142
Regions Financial
RF
$25.9B
| $6.99M | 0.08% |
+393,060
| New | +$7.36M |
|
143
Baidu
BIDU
$31.6B
| $6.98M | 0.08% |
28,740
-5,740
| -17% | -$1.43M |
|
144
Teck Resources
TECK
$33.9B
| $6.98M | 0.08% |
274,130
-29,790
| -10% | -$798K |
|
145
Credit Acceptance
CACC
$6.24B
| $6.95M | 0.08% |
19,670
-6,500
| -25% | -$2.23M |
|
146
Kohl's
KSS
$2B
| $6.95M | 0.08% |
95,280
-51,510
| -35% | -$3.43M |
|
147
TSMC
TSM
$2.17T
| $6.91M | 0.08% |
189,010
-24,990
| -12% | -$988K |
|
|
BID
148
DELISTED
Sotheby's
BID
| $6.9M | 0.08% |
126,910
-50,120
| -28% | -$2.77M |
|
149
Entegris
ENTG
$22B
| $6.79M | 0.08% |
200,180
-102,380
| -34% | -$3.62M |
|
150
Vale
VALE
$62.1B
| $6.73M | 0.08% |
525,060
-36,740
| -7% | -$502K |
|
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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.