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 |
Intel
INTC
|
+$275M |
| 2 |
Mohawk Industries
MHK
|
+$273M |
| 3 |
Alibaba
BABA
|
+$138M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$127M |
| 5 |
Lowe's Companies
LOW
|
+$102M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ANDV
Andeavor
ANDV
|
+$249M |
| 2 |
DXC Technology
DXC
|
+$236M |
| 3 |
MGM Resorts International
MGM
|
+$233M |
| 4 |
Adobe
ADBE
|
+$225M |
| 5 |
Molson Coors Class B
TAP
|
+$212M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 21.88% |
| 2 | Healthcare | 18.86% |
| 3 | Communication Services | 17.55% |
| 4 | Technology | 17.49% |
| 5 | Financials | 7.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Apple
AAPL
$4.51T
| $2.92M | 0.04% |
69,520
-81,920
| -54% | -$3.53M |
|
|
PAY
177
DELISTED
Verifone Systems Inc
PAY
| $2.87M | 0.04% |
+186,620
| New | +$3.26M |
|
178
AMC Entertainment Holdings
AMC
$2.28B
| $2.65M | 0.03% |
+18,887
| New | +$2.69M |
|
179
Colgate-Palmolive
CL
$72.6B
| $2.64M | 0.03% |
+36,820
| New | +$2.65M |
|
180
Atkore
ATKR
$3.16B
| $2.63M | 0.03% |
+132,332
| New | +$2.84M |
|
181
Ashland
ASH
$3.33B
| $2.62M | 0.03% |
+37,560
| New | +$2.7M |
|
182
Energizer
ENR
$1.47B
| $2.6M | 0.03% |
+43,690
| New | +$2.36M |
|
183
Bunge Global
BG
$21.7B
| $2.53M | 0.03% |
+34,270
| New | +$2.59M |
|
184
Bright Horizons
BFAM
$3.54B
| $2.53M | 0.03% |
+25,350
| New | +$2.46M |
|
185
International Paper
IP
$22B
| $2.51M | 0.03% |
+49,664
| New | +$2.76M |
|
186
Under Armour Class C
UA
$2.25B
| $2.31M | 0.03% |
+161,020
| New | +$2.27M |
|
187
Louisiana-Pacific
LPX
$5.12B
| $2.3M | 0.03% |
+80,090
| New | +$2.3M |
|
188
Ingredion
INGR
$6.74B
| $2.24M | 0.03% |
+17,410
| New | +$2.33M |
|
189
General Dynamics
GD
$104B
| $2.08M | 0.03% |
+9,430
| New | +$2.05M |
|
190
Home Depot
HD
$335B
| $2.05M | 0.03% |
11,520
+3,620
| +46% | +$679K |
|
191
GameStop
GME
$8.17B
| $2.04M | 0.03% |
+647,440
| New | +$2.64M |
|
192
Agilent Technologies
A
$44.9B
| $2.04M | 0.03% |
+30,520
| New | +$2.14M |
|
193
Air Products & Chemicals
APD
$67.9B
| $1.96M | 0.03% |
+12,330
| New | +$2.03M |
|
194
Boston Scientific
BSX
$73B
| $1.96M | 0.03% |
+71,740
| New | +$1.95M |
|
195
Dillards
DDS
$9.71B
| $1.93M | 0.02% |
+23,990
| New | +$1.73M |
|
196
Axalta
AXTA
$7.75B
| $1.81M | 0.02% |
+59,840
| New | +$1.87M |
|
197
Jack in the Box
JACK
$331M
| $1.79M | 0.02% |
+20,970
| New | +$1.88M |
|
198
Tenet Healthcare
THC
$22.6B
| $1.76M | 0.02% |
+72,680
| New | +$1.45M |
|
199
LyondellBasell Industries
LYB
$21.8B
| $1.69M | 0.02% |
+16,020
| New | +$1.79M |
|
200
Procter & Gamble
PG
$336B
| $1.58M | 0.02% |
+19,950
| New | +$1.66M |
|
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Lee Ainslie's Q1 2018 Portfolio in Review
As of Q1 2018, Lee Ainslie held 272 positions worth $7.75B, down 2.2% from $7.92B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Lee Ainslie withdrew a net $306M in Q1 2018, closing 54 positions and reducing 29 holdings. Its most notable exit was Andeavor, an estimated $249M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 15% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Lee Ainslie opened a new position in Mohawk Industries worth $246M.
- Lee Ainslie's largest Q1 2018 buy was Mohawk Industries: 1,058,922 shares worth $246M.
- Lee Ainslie added most to Intel in Q1 2018, an estimated $275M increase.
- Lee Ainslie's biggest Q1 2018 reduction was DXC Technology, cutting an estimated $236M.
- Lee Ainslie fully exited Andeavor in Q1 2018, selling an estimated $249M.
- Lee Ainslie's ten largest holdings make up 47% of its $7.75B portfolio in Q1 2018.
- Lee Ainslie opened 97 new positions and closed 54 in Q1 2018.
- Lee Ainslie's portfolio value fell 2.2% quarter-over-quarter to $7.75B.
Based on Maverick Capital's 13F filing for Q1 2018, filed 15 May 2018.