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
|
+$174M |
| 2 |
Corning
GLW
|
+$124M |
| 3 |
TG Therapeutics
TGTX
|
+$98.1M |
| 4 |
Blackstone
BX
|
+$87.5M |
| 5 |
Logitech
LOGI
|
+$85.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$86.7M |
| 2 |
Netflix
NFLX
|
+$86.2M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$80.7M |
| 4 |
MNTA
Momenta Pharmaceuticals, Inc.
MNTA
|
+$77M |
| 5 |
Avantor
AVTR
|
+$74.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 24.08% |
| 2 | Healthcare | 19.5% |
| 3 | Consumer Discretionary | 18.07% |
| 4 | Communication Services | 14.12% |
| 5 | Financials | 7.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Fastenal
FAST
$58.8B
| $1.36M | 0.03% |
60,564
+25,818
| +74% | +$593K |
|
202
Herbalife
HLF
$1.33B
| $1.36M | 0.03% |
29,064
-387
| -1% | -$19K |
|
203
B&G Foods
BGS
$281M
| $1.35M | 0.03% |
48,770
-153,717
| -76% | -$4.3M |
|
204
PayPal
PYPL
$52.7B
| $1.35M | 0.03% |
+6,834
| New | +$1.29M |
|
205
Visa
V
$693B
| $1.34M | 0.03% |
+6,726
| New | +$1.34M |
|
206
Molina Healthcare
MOH
$10.5B
| $1.34M | 0.02% |
+7,301
| New | +$1.33M |
|
207
Waste Management
WM
$89.6B
| $1.33M | 0.02% |
11,760
-12,177
| -51% | -$1.35M |
|
208
Mastercard
MA
$509B
| $1.32M | 0.02% |
3,919
-592
| -13% | -$192K |
|
209
OneSpan
OSPN
$580M
| $1.32M | 0.02% |
+63,013
| New | +$1.55M |
|
210
CGI
GIB
$15.5B
| $1.31M | 0.02% |
+19,355
| New | +$1.32M |
|
211
LGI Homes
LGIH
$1.35B
| $1.3M | 0.02% |
11,174
+5,731
| +105% | +$634K |
|
212
Union Pacific
UNP
$183B
| $1.29M | 0.02% |
6,573
+1,183
| +22% | +$220K |
|
|
ENV
213
DELISTED
ENVESTNET, INC.
ENV
| $1.29M | 0.02% |
16,756
-5,763
| -26% | -$460K |
|
214
Graco
GGG
$13.1B
| $1.29M | 0.02% |
+21,061
| New | +$1.18M |
|
215
First Horizon
FHN
$11.7B
| $1.29M | 0.02% |
+136,699
| New | +$1.28M |
|
216
LPL Financial
LPLA
$28.5B
| $1.28M | 0.02% |
16,718
-10,383
| -38% | -$824K |
|
217
PTC
PTC
$16.8B
| $1.28M | 0.02% |
+15,444
| New | +$1.32M |
|
218
Spectrum Brands
SPB
$2B
| $1.27M | 0.02% |
+22,310
| New | +$1.22M |
|
219
A.O. Smith
AOS
$8.57B
| $1.27M | 0.02% |
24,081
-3,571
| -13% | -$178K |
|
|
ALXN
220
DELISTED
Alexion Pharmaceuticals
ALXN
| $1.25M | 0.02% |
10,959
-2,475
| -18% | -$267K |
|
221
United Parcel Service
UPS
$86.8B
| $1.25M | 0.02% |
+7,514
| New | +$1.09M |
|
222
Builders FirstSource
BLDR
$7.55B
| $1.25M | 0.02% |
+38,350
| New | +$1.04M |
|
223
Edwards Lifesciences
EW
$51.8B
| $1.25M | 0.02% |
15,652
-14,889
| -49% | -$1.16M |
|
224
Starbucks
SBUX
$122B
| $1.25M | 0.02% |
+14,505
| New | +$1.16M |
|
225
Baker Hughes
BKR
$61.9B
| $1.24M | 0.02% |
93,387
+57,647
| +161% | +$882K |
|
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Lee Ainslie's Q3 2020 Portfolio in Review
As of Q3 2020, Lee Ainslie held 751 positions worth $5.38B, up 13% from $4.75B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Lee Ainslie deployed $296M of net new capital in Q3 2020, opening 188 new positions and adding to 138 existing holdings. Its largest new stake was Blackstone: 1,634,535 shares worth $85.3M.
By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 15% a quarter earlier, followed by Healthcare and Consumer Discretionary.
On the sell side, the largest reduction was Meta Platforms (Facebook), an estimated $86.7M trimmed.
- Lee Ainslie's largest Q3 2020 buy was Blackstone: 1,634,535 shares worth $85.3M.
- Lee Ainslie added most to Lam Research in Q3 2020, an estimated $174M increase.
- Lee Ainslie's biggest Q3 2020 reduction was Meta Platforms (Facebook), cutting an estimated $86.7M.
- Lee Ainslie fully exited Momenta Pharmaceuticals, Inc. in Q3 2020, selling an estimated $77M.
- Lee Ainslie's ten largest holdings make up 45% of its $5.38B portfolio in Q3 2020.
- Lee Ainslie opened 188 new positions and closed 190 in Q3 2020.
- Lee Ainslie's portfolio value rose 13% quarter-over-quarter to $5.38B.
Based on Maverick Capital's 13F filing for Q3 2020, filed 16 Nov 2020.