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 |
ANDV
Andeavor
ANDV
|
+$282M |
| 2 |
EVHC
Envision Healthcare Holdings Inc
EVHC
|
+$205M |
| 3 |
AB InBev
BUD
|
+$153M |
| 4 |
US Bancorp
USB
|
+$148M |
| 5 |
US Foods
USFD
|
+$129M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$522M |
| 2 |
Lam Research
LRCX
|
+$209M |
| 3 |
Corpay
CPAY
|
+$206M |
| 4 |
TransDigm Group
TDG
|
+$193M |
| 5 |
American Express
AXP
|
+$182M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 29.95% |
| 2 | Technology | 20.52% |
| 3 | Consumer Staples | 13.38% |
| 4 | Communication Services | 10.94% |
| 5 | Materials | 6.29% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Pfizer
PFE
$160B
| $679M | 8.66% |
20,904,485
-3,181,070
| -13% | -$100M |
|
2
Universal Health Services
UHS
$10.4B
| $616M | 7.86% |
4,952,724
-1,178,270
| -19% | -$139M |
|
3
Adobe
ADBE
$109B
| $555M | 7.08% |
4,263,755
+473,660
| +12% | +$55.6M |
|
4
Meta Platforms (Facebook)
META
$1.4T
| $493M | 6.29% |
3,470,922
-307,126
| -8% | -$41M |
|
|
WCN
5
Waste Connections
WCN
$42.6B
| $451M | 5.75% |
7,666,560
+638,466
| +9% | +$35.6M |
|
6
Sabre
SABR
$848M
| $386M | 4.92% |
18,205,930
-2,545,924
| -12% | -$58.3M |
|
|
VISN
7
Vistance Networks Inc
VISN
$2.59B
| $373M | 4.76% |
8,942,555
-1,089,433
| -11% | -$42M |
|
8
Cigna
CI
$73.3B
| $360M | 4.59% |
2,456,819
+443,194
| +22% | +$65.3M |
|
9
Dollar Tree
DLTR
$25.3B
| $342M | 4.36% |
4,358,026
+859,139
| +25% | +$66M |
|
10
Vulcan Materials
VMC
$35.8B
| $316M | 4.03% |
2,620,228
+573,518
| +28% | +$70.1M |
|
11
Alphabet (Google) Class C
GOOG
$4.18T
| $305M | 3.89% |
7,356,840
+1,974,420
| +37% | +$81M |
|
|
SHPG
12
DELISTED
Shire pic
SHPG
| $282M | 3.6% |
1,619,477
+194,057
| +14% | +$33.9M |
|
|
ANDV
13
DELISTED
Andeavor
ANDV
| $277M | 3.53% |
3,411,198
+3,371,548
| +8,503% | +$282M |
|
|
EVHC
14
DELISTED
Envision Healthcare Holdings Inc
EVHC
| $188M | 2.4% |
+3,065,266
| New | +$205M |
|
|
15
US Bancorp
USB
$96.7B
| $188M | 2.4% |
3,645,149
+2,779,616
| +321% | +$148M |
|
|
CSC
16
DELISTED
Computer Sciences
CSC
| $181M | 2.31% |
2,621,149
-457,216
| -15% | -$30.3M |
|
|
17
AB InBev
BUD
$155B
| $179M | 2.28% |
1,627,302
+1,421,752
| +692% | +$153M |
|
18
Martin Marietta Materials
MLM
$32.1B
| $169M | 2.15% |
773,189
+320,477
| +71% | +$70.7M |
|
19
Newell Brands
NWL
$2.59B
| $154M | 1.96% |
3,263,897
-3,130,339
| -49% | -$148M |
|
20
O'Reilly Automotive
ORLY
$72.1B
| $136M | 1.74% |
7,577,070
-1,350,270
| -15% | -$24.4M |
|
|
21
US Foods
USFD
$23.7B
| $133M | 1.7% |
+4,754,292
| New | +$129M |
|
|
AET
22
DELISTED
Aetna Inc
AET
| $126M | 1.61% |
987,480
-1,242,336
| -56% | -$156M |
|
23
Constellation Brands
STZ
$23.2B
| $125M | 1.59% |
+769,703
| New | +$120M |
|
24
Wynn Resorts
WYNN
$10.3B
| $106M | 1.35% |
+920,698
| New | +$91.8M |
|
25
Kraft Heinz
KHC
$30.3B
| $105M | 1.34% |
+1,152,747
| New | +$104M |
|
Similar funds
Lee Ainslie's Q1 2017 Portfolio in Review
As of Q1 2017, Lee Ainslie held 160 positions worth $7.84B, up 2% from $7.69B the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Lee Ainslie withdrew a net $454M in Q1 2017, closing 30 positions and reducing 74 holdings. Its most notable exit was TransDigm Group, an estimated $193M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 30% of assets, up from 29% a quarter earlier, followed by Technology and Consumer Staples.
Against the trend, Lee Ainslie opened a new position in Envision Healthcare Holdings Inc worth $188M.
- Lee Ainslie's largest Q1 2017 buy was Envision Healthcare Holdings Inc: 3,065,266 shares worth $188M.
- Lee Ainslie added most to Andeavor in Q1 2017, an estimated $282M increase.
- Lee Ainslie's biggest Q1 2017 reduction was Booking.com, cutting an estimated $522M.
- Lee Ainslie fully exited TransDigm Group in Q1 2017, selling an estimated $193M.
- Lee Ainslie's ten largest holdings make up 58% of its $7.84B portfolio in Q1 2017.
- Lee Ainslie opened 36 new positions and closed 30 in Q1 2017.
- Lee Ainslie's portfolio value rose 2% quarter-over-quarter to $7.84B.
Based on Maverick Capital's 13F filing for Q1 2017, filed 15 May 2017.