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 | |
|---|---|---|---|---|---|---|
201
Exelixis
EXEL
$13.4B
| – | – |
-188,010
| Closed | -$4.63M |
|
202
Gilead Sciences
GILD
$181B
| – | – |
-24,760
| Closed | -$1.75M |
|
203
GoPro
GPRO
$116M
| – | – |
-72,481
| Closed | -$589K |
|
204
Herbalife
HLF
$1.33B
| – | – |
-40,160
| Closed | -$1.43M |
|
205
Louisiana-Pacific
LPX
$5.12B
| – | – |
-101,050
| Closed | -$2.44M |
|
206
lululemon athletica
LULU
$13.7B
| – | – |
-36,630
| Closed | -$2.19M |
|
207
McDonald's
MCD
$192B
| – | – |
-43,230
| Closed | -$6.62M |
|
208
Martin Marietta Materials
MLM
$32.1B
| – | – |
-491,760
| Closed | -$109M |
|
209
Motorola Solutions
MSI
$79.5B
| – | – |
-46,050
| Closed | -$3.99M |
|
210
Nike
NKE
$60.5B
| – | – |
-57,140
| Closed | -$3.37M |
|
211
PetMed Express
PETS
$38.2M
| – | – |
-11,598
| Closed | -$471K |
|
212
Parker-Hannifin
PH
$126B
| – | – |
-24,980
| Closed | -$3.99M |
|
213
Red Robin
RRGB
$189M
| – | – |
-29,476
| Closed | -$1.92M |
|
214
Sally Beauty Holdings
SBH
$1.55B
| – | – |
-93,620
| Closed | -$1.9M |
|
|
SKX
215
DELISTED
Skechers
SKX
| – | – |
-160,590
| Closed | -$4.74M |
|
216
Sportsman's Warehouse
SPWH
$44.9M
| – | – |
-82,775
| Closed | -$447K |
|
217
Stellantis
STLA
$20.4B
| – | – |
-225,338
| Closed | -$2.39M |
|
218
Teradyne
TER
$58.7B
| – | – |
-73,750
| Closed | -$2.21M |
|
219
Texas Instruments
TXN
$241B
| – | – |
-50,300
| Closed | -$3.87M |
|
220
United Airlines
UAL
$36.7B
| – | – |
-43,080
| Closed | -$3.24M |
|
|
221
US Bancorp
USB
$96.7B
| – | – |
-2,478,108
| Closed | -$129M |
|
222
US Foods
USFD
$23.7B
| – | – |
-1,276,434
| Closed | -$34.7M |
|
223
United Therapeutics
UTHR
$22B
| – | – |
-18,720
| Closed | -$2.43M |
|
224
Wayfair
W
$13.9B
| – | – |
-52,220
| Closed | -$4.01M |
|
|
WBA
225
DELISTED
Walgreens Boots Alliance
WBA
| – | – |
-251,710
| Closed | -$19.7M |
|
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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.