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 |
Newell Brands
NWL
|
+$342M |
| 2 |
Visa
V
|
+$228M |
| 3 |
Constellation Brands
STZ
|
+$154M |
| 4 |
EVHC
Envision Healthcare Holdings Inc
EVHC
|
+$136M |
| 5 |
Comcast
CMCSA
|
+$109M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dollar Tree
DLTR
|
+$612M |
| 2 |
Molson Coors Class B
TAP
|
+$249M |
| 3 |
Cigna
CI
|
+$238M |
| 4 |
VISN
Vistance Networks Inc
VISN
|
+$189M |
| 5 |
US Bancorp
USB
|
+$129M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 23.41% |
| 2 | Technology | 17.66% |
| 3 | Communication Services | 15.72% |
| 4 | Consumer Staples | 12.95% |
| 5 | Consumer Discretionary | 10.59% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SHLD
176
DELISTED
Sears Holding Corporation
SHLD
| $7K | ﹤0.01% |
+1,009
| New | +$8.29K |
|
177
Advance Auto Parts
AAP
$2.57B
| – | – |
-18,870
| Closed | -$2.2M |
|
178
AbbVie
ABBV
$468B
| – | – |
-57,400
| Closed | -$4.16M |
|
179
Analog Devices
ADI
$182B
| – | – |
-29,420
| Closed | -$2.29M |
|
180
Amgen
AMGN
$238B
| – | – |
-10,200
| Closed | -$1.76M |
|
181
Amazon
AMZN
$2.79T
| – | – |
-83,000
| Closed | -$4.02M |
|
182
Arista Networks
ANET
$238B
| – | – |
-255,360
| Closed | -$2.39M |
|
|
OPTU
183
Optimum Communications Inc
OPTU
$323M
| – | – |
-192,370
| Closed | -$6.21M |
|
|
DCH
184
Dauch Corp
DCH
$1.63B
| – | – |
-257,980
| Closed | -$4.02M |
|
185
Best Buy
BBY
$18.1B
| – | – |
-54,490
| Closed | -$3.12M |
|
186
Biogen
BIIB
$32B
| – | – |
-15,230
| Closed | -$4.13M |
|
187
Bloomin' Brands
BLMN
$996M
| – | – |
-143,410
| Closed | -$3.04M |
|
188
Burlington
BURL
$20.6B
| – | – |
-28,700
| Closed | -$2.64M |
|
189
Cognex
CGNX
$10.2B
| – | – |
-53,960
| Closed | -$2.29M |
|
190
Charter Communications
CHTR
$17.9B
| – | – |
-327,221
| Closed | -$110M |
|
|
CMA
191
DELISTED
Comerica
CMA
| – | – |
-55,690
| Closed | -$4.08M |
|
|
VISN
192
Vistance Networks Inc
VISN
$2.59B
| – | – |
-4,976,160
| Closed | -$189M |
|
193
Capri Holdings
CPRI
$1.55B
| – | – |
-30,650
| Closed | -$1.11M |
|
194
Cisco
CSCO
$438B
| – | – |
-54,910
| Closed | -$1.72M |
|
195
Cemex
CX
$16B
| – | – |
-88,620
| Closed | -$835K |
|
196
Dillards
DDS
$9.71B
| – | – |
-63,653
| Closed | -$3.67M |
|
197
Darden Restaurants
DRI
$25.2B
| – | – |
-16,260
| Closed | -$1.47M |
|
198
Dycom Industries
DY
$11.8B
| – | – |
-27,380
| Closed | -$2.45M |
|
199
Brinker International
EAT
$10.6B
| – | – |
-80,420
| Closed | -$3.06M |
|
200
Etsy
ETSY
$7.44B
| – | – |
-32,804
| Closed | -$492K |
|
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Lee Ainslie's Q3 2017 Portfolio in Review
As of Q3 2017, Lee Ainslie held 239 positions worth $7.88B, down 1.2% from $7.98B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Lee Ainslie's Q3 2017 filing shows 61 new, 80 increased, 34 reduced and 63 closed positions. Its largest new stake was Newell Brands: 7,003,992 shares worth $299M. The largest sale was Dollar Tree, an estimated $612M.
By sector, the portfolio is most concentrated in Healthcare at 23% of assets, down from 27% a quarter earlier, followed by Technology and Communication Services.
- Lee Ainslie's largest Q3 2017 buy was Newell Brands: 7,003,992 shares worth $299M.
- Lee Ainslie added most to Visa in Q3 2017, an estimated $228M increase.
- Lee Ainslie's biggest Q3 2017 reduction was Dollar Tree, cutting an estimated $612M.
- Lee Ainslie fully exited Vistance Networks Inc in Q3 2017, selling an estimated $189M.
- Lee Ainslie's ten largest holdings make up 50% of its $7.88B portfolio in Q3 2017.
- Lee Ainslie opened 61 new positions and closed 63 in Q3 2017.
- Lee Ainslie's portfolio value fell 1.2% quarter-over-quarter to $7.88B.
Based on Maverick Capital's 13F filing for Q3 2017, filed 14 Nov 2017.