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 |
Restaurant Brands International
QSR
|
+$236M |
| 2 |
Corpay
CPAY
|
+$186M |
| 3 |
Humana
HUM
|
+$160M |
| 4 |
DuPont de Nemours
DD
|
+$147M |
| 5 |
ONEM
1Life Healthcare
ONEM
|
+$131M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Monster Beverage
MNST
|
+$341M |
| 2 |
MDCO
Medicines Co
MDCO
|
+$185M |
| 3 |
Westlake Corp
WLK
|
+$162M |
| 4 |
T-Mobile US
TMUS
|
+$153M |
| 5 |
Centene
CNC
|
+$149M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 23.18% |
| 2 | Technology | 22.82% |
| 3 | Healthcare | 21.03% |
| 4 | Communication Services | 13.36% |
| 5 | Materials | 8.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
WBA
151
DELISTED
Walgreens Boots Alliance
WBA
| $2.48M | 0.05% |
54,250
+13,218
| +32% | +$671K |
|
152
LKQ Corp
LKQ
$6.52B
| $2.47M | 0.05% |
120,350
-8,627
| -7% | -$256K |
|
153
Crocs
CROX
$5.85B
| $2.44M | 0.05% |
143,298
-123,456
| -46% | -$3.93M |
|
154
Idexx Laboratories
IDXX
$43.9B
| $2.43M | 0.05% |
10,015
+1,327
| +15% | +$346K |
|
155
Alaska Air
ALK
$4.51B
| $2.41M | 0.05% |
84,660
+17,787
| +27% | +$967K |
|
|
MIME
156
DELISTED
Mimecast Limited
MIME
| $2.39M | 0.05% |
67,822
-25,726
| -28% | -$1.11M |
|
157
EQT Corp
EQT
$33.6B
| $2.39M | 0.05% |
+338,208
| New | +$2.38M |
|
158
Fidelity National Information Services
FIS
$21.3B
| $2.38M | 0.05% |
19,575
+1,907
| +11% | +$265K |
|
159
Bausch Health
BHC
$2.41B
| $2.37M | 0.05% |
153,038
+8,240
| +6% | +$199K |
|
|
MOMO
160
Hello Group
MOMO
$850M
| $2.36M | 0.05% |
108,973
-453
| -0.4% | -$13.5K |
|
161
Tyson Foods
TSN
$20.6B
| $2.36M | 0.05% |
40,706
+31,635
| +349% | +$2.36M |
|
162
Abbott
ABT
$202B
| $2.35M | 0.05% |
29,762
-92,575
| -76% | -$7.72M |
|
163
General Motors
GM
$77.2B
| $2.3M | 0.05% |
+110,845
| New | +$3.38M |
|
164
Caleres
CAL
$457M
| $2.3M | 0.05% |
441,878
+276,310
| +167% | +$3.97M |
|
165
Take-Two Interactive
TTWO
$44.8B
| $2.29M | 0.05% |
19,285
-34,661
| -64% | -$4.1M |
|
|
AMED
166
DELISTED
Amedisys
AMED
| $2.29M | 0.05% |
+12,449
| New | +$2.21M |
|
167
Waste Management
WM
$89.6B
| $2.28M | 0.05% |
24,633
+3,636
| +17% | +$417K |
|
168
Tyler Technologies
TYL
$14.4B
| $2.23M | 0.05% |
+7,536
| New | +$2.34M |
|
169
Acadia Healthcare
ACHC
$2.59B
| $2.23M | 0.05% |
+121,572
| New | +$3.48M |
|
170
Cardinal Health
CAH
$53.4B
| $2.23M | 0.05% |
+46,522
| New | +$2.42M |
|
171
RB Global
RBA
$16.1B
| $2.23M | 0.05% |
65,244
-32,035
| -33% | -$1.28M |
|
172
Ball Corp
BALL
$16.8B
| $2.18M | 0.05% |
+33,773
| New | +$2.36M |
|
173
Kroger
KR
$35.5B
| $2.14M | 0.05% |
71,172
-25,293
| -26% | -$742K |
|
174
Clorox
CLX
$12.9B
| $2.13M | 0.05% |
+12,314
| New | +$2.03M |
|
175
FMC
FMC
$1.38B
| $2.12M | 0.04% |
+25,970
| New | +$2.41M |
|
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Lee Ainslie's Q1 2020 Portfolio in Review
As of Q1 2020, Lee Ainslie held 565 positions worth $4.74B, down 31% from $6.87B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Lee Ainslie withdrew a net $525M in Q1 2020, closing 99 positions and reducing 138 holdings. Its most notable exit was Medicines Co, an estimated $185M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, up from 18% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Lee Ainslie opened a new position in 1Life Healthcare worth $101M.
- Lee Ainslie's largest Q1 2020 buy was 1Life Healthcare: 5,955,185 shares worth $101M.
- Lee Ainslie added most to Restaurant Brands International in Q1 2020, an estimated $236M increase.
- Lee Ainslie's biggest Q1 2020 reduction was Monster Beverage, cutting an estimated $341M.
- Lee Ainslie fully exited Medicines Co in Q1 2020, selling an estimated $185M.
- Lee Ainslie's ten largest holdings make up 49% of its $4.74B portfolio in Q1 2020.
- Lee Ainslie opened 228 new positions and closed 99 in Q1 2020.
- Lee Ainslie's portfolio value fell 31% quarter-over-quarter to $4.74B.
Based on Maverick Capital's 13F filing for Q1 2020, filed 15 May 2020.