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 |
O'Reilly Automotive
ORLY
|
+$271M |
| 2 |
LVLT
Level 3 Communications Inc
LVLT
|
+$235M |
| 3 |
Universal Health Services
UHS
|
+$230M |
| 4 |
Dollar General
DG
|
+$226M |
| 5 |
Apple
AAPL
|
+$210M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aramark
ARMK
|
+$227M |
| 2 |
AGN
Allergan plc
AGN
|
+$203M |
| 3 |
Adobe
ADBE
|
+$148M |
| 4 |
Meta Platforms (Facebook)
META
|
+$132M |
| 5 |
Lam Research
LRCX
|
+$83.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 25.64% |
| 2 | Healthcare | 19.39% |
| 3 | Consumer Staples | 14.43% |
| 4 | Industrials | 14.34% |
| 5 | Consumer Discretionary | 10.87% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Pfizer
PFE
$160B
| $724M | 8.58% |
22,534,683
+3,112,811
| +16% | +$104M |
|
2
Philip Morris
PM
$293B
| $703M | 8.32% |
7,226,591
+1,375,054
| +23% | +$138M |
|
3
Sabre
SABR
$848M
| $602M | 7.13% |
21,368,618
+1,547,880
| +8% | +$43.2M |
|
4
Booking.com
BKNG
$158B
| $601M | 7.13% |
10,217,550
+807,075
| +9% | +$45M |
|
|
5
Universal Health Services
UHS
$10.4B
| $565M | 6.69% |
4,584,358
+1,815,420
| +66% | +$230M |
|
|
VISN
6
Vistance Networks Inc
VISN
$2.59B
| $497M | 5.89% |
16,500,011
+1,257,269
| +8% | +$37.9M |
|
|
WCN
7
Waste Connections
WCN
$42.6B
| $440M | 5.21% |
8,833,263
+506,659
| +6% | +$25.5M |
|
|
8
Lam Research
LRCX
$393B
| $430M | 5.1% |
45,452,580
-9,202,910
| -17% | -$83.7M |
|
|
9
O'Reilly Automotive
ORLY
$72.1B
| $274M | 3.24% |
14,658,285
+14,475,585
| +7,923% | +$271M |
|
|
LVLT
10
DELISTED
Level 3 Communications Inc
LVLT
| $259M | 3.07% |
5,590,526
+4,653,236
| +496% | +$235M |
|
11
Northrop Grumman
NOC
$78.3B
| $237M | 2.8% |
1,106,456
-60,240
| -5% | -$13M |
|
12
Alphabet (Google) Class C
GOOG
$4.18T
| $233M | 2.76% |
5,990,700
+110,960
| +2% | +$4.21M |
|
13
American Express
AXP
$227B
| $228M | 2.7% |
3,558,379
-1,088,411
| -23% | -$69.9M |
|
|
14
Apple
AAPL
$4.51T
| $225M | 2.67% |
7,963,468
+7,939,348
| +32,916% | +$210M |
|
|
15
Meta Platforms (Facebook)
META
$1.4T
| $220M | 2.61% |
1,716,210
-1,064,495
| -38% | -$132M |
|
16
AB InBev
BUD
$155B
| $217M | 2.57% |
1,652,876
+1,022,163
| +162% | +$129M |
|
17
TransDigm Group
TDG
$66.4B
| $208M | 2.47% |
721,037
-79,155
| -10% | -$22.2M |
|
|
18
Dollar General
DG
$27.2B
| $186M | 2.21% |
+2,662,092
| New | +$226M |
|
19
Comcast
CMCSA
$95.3B
| $185M | 2.19% |
5,573,134
-1,145,382
| -17% | -$38.1M |
|
|
CSC
20
DELISTED
Computer Sciences
CSC
| $181M | 2.15% |
3,470,699
+410,681
| +13% | +$19.8M |
|
21
Radian Group
RDN
$4.84B
| $126M | 1.49% |
9,298,595
-4,642,847
| -33% | -$59.9M |
|
|
22
Adobe
ADBE
$109B
| $119M | 1.41% |
1,095,491
-1,476,826
| -57% | -$148M |
|
23
US Bancorp
USB
$96.7B
| $116M | 1.38% |
2,713,933
-901,636
| -25% | -$38.3M |
|
|
SHPG
24
DELISTED
Shire pic
SHPG
| $111M | 1.31% |
570,907
+568,987
| +29,635% | +$111M |
|
25
Newell Brands
NWL
$2.59B
| $98.7M | 1.17% |
1,873,805
+433,690
| +30% | +$22.4M |
|
Similar funds
Lee Ainslie's Q3 2016 Portfolio in Review
As of Q3 2016, Lee Ainslie held 163 positions worth $8.44B, up 15% from $7.37B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Lee Ainslie deployed $854M of net new capital in Q3 2016, opening 31 new positions and adding to 37 existing holdings. Its largest new stake was Dollar General: 2,662,092 shares worth $186M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, down from 26% a quarter earlier, followed by Healthcare and Consumer Staples.
On the sell side, the largest reduction was Adobe, an estimated $148M trimmed.
- Lee Ainslie's largest Q3 2016 buy was Dollar General: 2,662,092 shares worth $186M.
- Lee Ainslie added most to O'Reilly Automotive in Q3 2016, an estimated $271M increase.
- Lee Ainslie's biggest Q3 2016 reduction was Adobe, cutting an estimated $148M.
- Lee Ainslie fully exited Aramark in Q3 2016, selling an estimated $227M.
- Lee Ainslie's ten largest holdings make up 60% of its $8.44B portfolio in Q3 2016.
- Lee Ainslie opened 31 new positions and closed 35 in Q3 2016.
- Lee Ainslie's portfolio value rose 15% quarter-over-quarter to $8.44B.
Based on Maverick Capital's 13F filing for Q3 2016, filed 14 Nov 2016.