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 |
Lam Research
LRCX
|
+$268M |
| 2 |
DXC Technology
DXC
|
+$265M |
| 3 |
Elevance Health
ELV
|
+$262M |
| 4 |
Baidu
BIDU
|
+$195M |
| 5 |
Constellation Brands
STZ
|
+$131M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class C
GOOG
|
+$483M |
| 2 |
Meta Platforms (Facebook)
META
|
+$439M |
| 3 |
Dollar Tree
DLTR
|
+$362M |
| 4 |
EVHC
Envision Healthcare Holdings Inc
EVHC
|
+$297M |
| 5 |
Mohawk Industries
MHK
|
+$257M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 27.07% |
| 2 | Healthcare | 17.51% |
| 3 | Communication Services | 16.54% |
| 4 | Consumer Discretionary | 15.49% |
| 5 | Financials | 7.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
126
Abercrombie & Fitch
ANF
$4.84B
| $6.89M | 0.09% |
+326,350
| New | +$7.92M |
|
127
Cimpress
CMPR
$2.13B
| $6.89M | 0.09% |
+50,410
| New | +$7.28M |
|
128
Visa
V
$693B
| $6.83M | 0.08% |
45,500
-905,722
| -95% | -$129M |
|
129
Cognizant
CTSH
$27.9B
| $6.83M | 0.08% |
88,460
-13,430
| -13% | -$1.05M |
|
130
Edwards Lifesciences
EW
$51.8B
| $6.82M | 0.08% |
117,480
-188,040
| -62% | -$9.2M |
|
131
SM Energy
SM
$8.85B
| $6.79M | 0.08% |
215,350
-60,040
| -22% | -$1.72M |
|
132
Herbalife
HLF
$1.33B
| $6.79M | 0.08% |
124,430
-23,740
| -16% | -$1.31M |
|
133
TSMC
TSM
$2.17T
| $6.78M | 0.08% |
153,430
-35,580
| -19% | -$1.47M |
|
134
Monster Beverage
MNST
$93.6B
| $6.68M | 0.08% |
+458,320
| New | +$6.89M |
|
|
HES
135
DELISTED
Hess
HES
| $6.66M | 0.08% |
93,080
-25,190
| -21% | -$1.66M |
|
136
UnitedHealth
UNH
$350B
| $6.6M | 0.08% |
24,820
-5,660
| -19% | -$1.47M |
|
|
JOYY
137
JOYY Inc
JOYY
$3.71B
| $6.6M | 0.08% |
88,100
+26,060
| +42% | +$2.19M |
|
138
Macy's
M
$6B
| $6.6M | 0.08% |
+189,940
| New | +$7.07M |
|
139
Gray Television
GTN
$509M
| $6.52M | 0.08% |
372,460
-269,310
| -42% | -$4.41M |
|
|
CTXS
140
DELISTED
Citrix Systems Inc
CTXS
| $6.42M | 0.08% |
57,790
-11,230
| -16% | -$1.24M |
|
141
Expedia Group
EXPE
$38.6B
| $6.38M | 0.08% |
48,920
-9,810
| -17% | -$1.27M |
|
|
CIT
142
DELISTED
CIT Group Inc.
CIT
| $6.37M | 0.08% |
123,480
-29,380
| -19% | -$1.56M |
|
143
Ally Financial
ALLY
$13.1B
| $6.34M | 0.08% |
239,770
-38,110
| -14% | -$1.03M |
|
144
New Oriental
EDU
$8.88B
| $6.3M | 0.08% |
85,180
+11,070
| +15% | +$918K |
|
145
Cadence Design Systems
CDNS
$87.9B
| $6.24M | 0.08% |
137,770
-32,150
| -19% | -$1.46M |
|
146
Collegium Pharmaceutical
COLL
$840M
| $6.22M | 0.08% |
421,993
-2,597
| -0.6% | -$46K |
|
147
Jazz Pharmaceuticals
JAZZ
$16.5B
| $6.2M | 0.08% |
36,880
-5,030
| -12% | -$865K |
|
148
Methanex
MEOH
$4.65B
| $6.16M | 0.08% |
78,000
+12,470
| +19% | +$907K |
|
149
Texas Instruments
TXN
$241B
| $6.15M | 0.08% |
57,330
-7,120
| -11% | -$792K |
|
|
BID
150
DELISTED
Sotheby's
BID
| $6.15M | 0.08% |
125,050
-1,860
| -1% | -$94K |
|
Similar funds
Lee Ainslie's Q3 2018 Portfolio in Review
As of Q3 2018, Lee Ainslie held 303 positions worth $8.04B, down 6% from $8.55B the previous quarter. Its ten largest holdings account for 41% of the portfolio.
Lee Ainslie withdrew a net $920M in Q3 2018, closing 65 positions and reducing 95 holdings. Its most notable exit was Dollar Tree, an estimated $362M position sold in full.
By sector, the portfolio is most concentrated in Technology at 27% of assets, up from 19% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Lee Ainslie opened a new position in Constellation Brands worth $133M.
- Lee Ainslie's largest Q3 2018 buy was Constellation Brands: 616,427 shares worth $133M.
- Lee Ainslie added most to Lam Research in Q3 2018, an estimated $268M increase.
- Lee Ainslie's biggest Q3 2018 reduction was Alphabet (Google) Class C, cutting an estimated $483M.
- Lee Ainslie fully exited Dollar Tree in Q3 2018, selling an estimated $362M.
- Lee Ainslie's ten largest holdings make up 41% of its $8.04B portfolio in Q3 2018.
- Lee Ainslie opened 68 new positions and closed 65 in Q3 2018.
- Lee Ainslie's portfolio value fell 6% quarter-over-quarter to $8.04B.
Based on Maverick Capital's 13F filing for Q3 2018, filed 14 Nov 2018.