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 |
Aramark
ARMK
|
+$353M |
| 2 |
Booking.com
BKNG
|
+$274M |
| 3 |
Baidu
BIDU
|
+$234M |
| 4 |
Micron Technology
MU
|
+$180M |
| 5 |
Broadcom
AVGO
|
+$171M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dollar General
DG
|
+$328M |
| 2 |
PARA
Paramount Global Class B
PARA
|
+$244M |
| 3 |
Bausch Health
BHC
|
+$204M |
| 4 |
McKesson
MCK
|
+$194M |
| 5 |
CPN
Calpine Corporation
CPN
|
+$192M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.22% |
| 2 | Healthcare | 15.83% |
| 3 | Industrials | 15.14% |
| 4 | Communication Services | 13.05% |
| 5 | Financials | 11.92% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Booking.com
BKNG
$158B
| $414M | 6.67% |
8,898,775
+6,123,775
| +221% | +$274M |
|
2
Alphabet (Google) Class C
GOOG
$4.18T
| $387M | 6.22% |
14,145,450
+924,511
| +7% | +$24.8M |
|
|
3
Aramark
ARMK
$15.8B
| $352M | 5.66% |
+15,398,398
| New | +$353M |
|
|
VISN
4
Vistance Networks Inc
VISN
$2.59B
| $333M | 5.36% |
11,659,062
+4,599,610
| +65% | +$128M |
|
|
SC
5
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
| $314M | 5.05% |
13,572,219
-880,767
| -6% | -$18.6M |
|
|
6
Broadcom
AVGO
$1.75T
| $307M | 4.94% |
24,170,050
+14,937,550
| +162% | +$171M |
|
7
TransDigm Group
TDG
$66.4B
| $295M | 4.75% |
1,348,272
-84,110
| -6% | -$17.7M |
|
8
Radian Group
RDN
$4.84B
| $292M | 4.7% |
17,390,892
+2,463,646
| +17% | +$40.2M |
|
9
Adobe
ADBE
$109B
| $256M | 4.11% |
3,455,606
+626,234
| +22% | +$46.7M |
|
|
10
Bausch Health
BHC
$2.41B
| $253M | 4.08% |
1,275,861
-1,147,905
| -47% | -$204M |
|
|
11
Baidu
BIDU
$31.6B
| $228M | 3.67% |
+1,092,777
| New | +$234M |
|
|
TMH
12
DELISTED
Team Health Holdings Inc
TMH
| $217M | 3.5% |
3,714,737
+2,144,695
| +137% | +$122M |
|
13
Vulcan Materials
VMC
$35.8B
| $191M | 3.08% |
2,270,486
-556,266
| -20% | -$43M |
|
14
Sabre
SABR
$848M
| $170M | 2.74% |
7,003,327
+374,231
| +6% | +$8.01M |
|
|
15
Micron Technology
MU
$1.09T
| $164M | 2.63% |
+6,029,240
| New | +$180M |
|
16
AerCap
AER
$23B
| $161M | 2.59% |
3,680,442
-1,499,132
| -29% | -$63.2M |
|
17
Liberty Global Class C
LBTYK
$3.55B
| $143M | 2.3% |
3,549,468
-4,576,905
| -56% | -$181M |
|
18
Corpay
CPAY
$27.4B
| $135M | 2.17% |
893,641
-21,052
| -2% | -$3.12M |
|
|
SWI
19
DELISTED
SOLARWINDS INC COM STK (DE)
SWI
| $131M | 2.11% |
2,563,359
-1,155,887
| -31% | -$57.4M |
|
20
MGIC Investment
MTG
$6.34B
| $131M | 2.1% |
13,562,217
+3,721,449
| +38% | +$34M |
|
|
NRF
21
DELISTED
NorthStar Realty Finance Corp.
NRF
| $128M | 2.06% |
3,528,314
+1,604,313
| +83% | +$59.4M |
|
22
AB InBev
BUD
$155B
| $114M | 1.84% |
936,651
+579,697
| +162% | +$70M |
|
23
Universal Health Services
UHS
$10.4B
| $114M | 1.84% |
969,941
+135,184
| +16% | +$15M |
|
24
Halliburton
HAL
$29.4B
| $105M | 1.68% |
2,385,406
-515,467
| -18% | -$21.5M |
|
|
KRFT
25
DELISTED
KRAFT FOODS GROUP INC COM STK (VA)
KRFT
| $104M | 1.67% |
+1,190,000
| New | +$78.5M |
|
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Lee Ainslie's Q1 2015 Portfolio in Review
As of Q1 2015, Lee Ainslie held 135 positions worth $6.21B, down 2.6% from $6.38B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Lee Ainslie withdrew a net $645M in Q1 2015, closing 16 positions and reducing 14 holdings. Its most notable exit was Paramount Global Class B, an estimated $244M position sold in full.
By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 19% a quarter earlier, followed by Healthcare and Industrials.
Against the trend, Lee Ainslie opened a new position in Aramark worth $352M.
- Lee Ainslie's largest Q1 2015 buy was Aramark: 15,398,398 shares worth $352M.
- Lee Ainslie added most to Booking.com in Q1 2015, an estimated $274M increase.
- Lee Ainslie's biggest Q1 2015 reduction was Dollar General, cutting an estimated $328M.
- Lee Ainslie fully exited Paramount Global Class B in Q1 2015, selling an estimated $244M.
- Lee Ainslie's ten largest holdings make up 52% of its $6.21B portfolio in Q1 2015.
- Lee Ainslie opened 90 new positions and closed 16 in Q1 2015.
- Lee Ainslie's portfolio value fell 2.6% quarter-over-quarter to $6.21B.
Based on Maverick Capital's 13F filing for Q1 2015, filed 15 May 2015.