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 |
Microsoft
MSFT
|
+$195M |
| 2 |
SCHW
Charles Schwab
SCHW
|
+$148M |
| 3 |
Adobe
ADBE
|
+$124M |
| 4 |
WP
Worldpay, Inc.
WP
|
+$122M |
| 5 |
Molson Coors Class B
TAP
|
+$119M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Newell Brands
NWL
|
+$299M |
| 2 |
Pfizer
PFE
|
+$261M |
| 3 |
Qualcomm
QCOM
|
+$231M |
| 4 |
Constellation Brands
STZ
|
+$177M |
| 5 |
Sabre
SABR
|
+$169M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 19.89% |
| 2 | Healthcare | 18.77% |
| 3 | Consumer Discretionary | 15.09% |
| 4 | Communication Services | 14.75% |
| 5 | Consumer Staples | 11.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Universal Health Services
UHS
$10.4B
| $617M | 7.79% |
5,442,665
-418,156
| -7% | -$44.7M |
|
2
Meta Platforms (Facebook)
META
$1.4T
| $515M | 6.5% |
2,916,842
-369,825
| -11% | -$65.4M |
|
3
Visa
V
$693B
| $412M | 5.2% |
3,612,923
+274,169
| +8% | +$30.3M |
|
|
4
Adobe
ADBE
$109B
| $384M | 4.85% |
2,192,956
+722,872
| +49% | +$124M |
|
5
Alphabet (Google) Class C
GOOG
$4.18T
| $360M | 4.54% |
6,879,200
-1,886,060
| -22% | -$96M |
|
|
EVHC
6
DELISTED
Envision Healthcare Holdings Inc
EVHC
| $346M | 4.36% |
10,002,182
+2,349,648
| +31% | +$82.2M |
|
7
DXC Technology
DXC
$1.73B
| $328M | 4.14% |
3,995,327
-64,419
| -2% | -$5.2M |
|
|
8
Molson Coors Class B
TAP
$8.01B
| $306M | 3.86% |
3,727,466
+1,471,573
| +65% | +$119M |
|
|
9
Microsoft
MSFT
$3.59T
| $302M | 3.81% |
3,527,000
+2,381,440
| +208% | +$195M |
|
10
MGM Resorts International
MGM
$11B
| $296M | 3.74% |
8,867,800
+1,852,880
| +26% | +$59.7M |
|
11
DuPont de Nemours
DD
$18.7B
| $289M | 3.65% |
1,603,005
-319,537
| -17% | -$57.6M |
|
|
WCN
12
Waste Connections
WCN
$42.6B
| $264M | 3.33% |
3,716,045
-1,581,308
| -30% | -$110M |
|
|
SHPG
13
DELISTED
Shire pic
SHPG
| $258M | 3.26% |
1,662,637
-309,154
| -16% | -$45.8M |
|
14
AB InBev
BUD
$155B
| $252M | 3.18% |
2,261,184
+783,554
| +53% | +$92.2M |
|
|
ANDV
15
DELISTED
Andeavor
ANDV
| $249M | 3.14% |
2,176,489
-388,102
| -15% | -$41.7M |
|
16
T-Mobile US
TMUS
$196B
| $213M | 2.68% |
3,349,036
+1,699,036
| +103% | +$104M |
|
|
SCHW
17
Charles Schwab
SCHW
$194B
| $162M | 2.04% |
+3,150,359
| New | +$148M |
|
|
18
Constellation Brands
STZ
$23.2B
| $151M | 1.9% |
659,110
-818,476
| -55% | -$177M |
|
19
Wynn Resorts
WYNN
$10.3B
| $146M | 1.85% |
868,130
-10,390
| -1% | -$1.6M |
|
|
WP
20
DELISTED
Worldpay, Inc.
WP
| $126M | 1.58% |
+1,707,281
| New | +$122M |
|
|
IPXL
21
DELISTED
Impax Laboratories, Inc.
IPXL
| $122M | 1.54% |
7,327,798
+833,500
| +13% | +$15.3M |
|
22
Las Vegas Sands
LVS
$30.5B
| $94.9M | 1.2% |
1,365,542
-551,114
| -29% | -$36.8M |
|
|
23
Sabre
SABR
$848M
| $93.1M | 1.18% |
4,541,121
-8,848,977
| -66% | -$169M |
|
24
Lowe's Companies
LOW
$121B
| $92.9M | 1.17% |
999,925
+843,385
| +539% | +$69.7M |
|
25
British American Tobacco
BTI
$121B
| $76.1M | 0.96% |
+1,135,965
| New | +$74.1M |
|
Similar funds
Lee Ainslie's Q4 2017 Portfolio in Review
As of Q4 2017, Lee Ainslie held 230 positions worth $7.92B, up 0.54% from $7.88B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Lee Ainslie withdrew a net $276M in Q4 2017, closing 55 positions and reducing 23 holdings. Its most notable exit was Newell Brands, an estimated $299M position sold in full.
By sector, the portfolio is most concentrated in Technology at 20% of assets, up from 18% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Lee Ainslie opened a new position in Charles Schwab worth $162M.
- Lee Ainslie's largest Q4 2017 buy was Charles Schwab: 3,150,359 shares worth $162M.
- Lee Ainslie added most to Microsoft in Q4 2017, an estimated $195M increase.
- Lee Ainslie's biggest Q4 2017 reduction was Constellation Brands, cutting an estimated $177M.
- Lee Ainslie fully exited Newell Brands in Q4 2017, selling an estimated $299M.
- Lee Ainslie's ten largest holdings make up 49% of its $7.92B portfolio in Q4 2017.
- Lee Ainslie opened 54 new positions and closed 55 in Q4 2017.
- Lee Ainslie's portfolio value rose 0.54% quarter-over-quarter to $7.92B.
Based on Maverick Capital's 13F filing for Q4 2017, filed 13 Feb 2018.