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 |
Dollar Tree
DLTR
|
+$376M |
| 2 |
Walt Disney
DIS
|
+$372M |
| 3 |
Mastercard
MA
|
+$204M |
| 4 |
Mohawk Industries
MHK
|
+$93.9M |
| 5 |
T-Mobile US
TMUS
|
+$91.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Visa
V
|
+$223M |
| 2 |
Universal Health Services
UHS
|
+$120M |
| 3 |
Meta Platforms (Facebook)
META
|
+$111M |
| 4 |
EVHC
Envision Healthcare Holdings Inc
EVHC
|
+$110M |
| 5 |
Molson Coors Class B
TAP
|
+$81.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 21.29% |
| 2 | Technology | 18.75% |
| 3 | Consumer Discretionary | 18.68% |
| 4 | Healthcare | 16.13% |
| 5 | Consumer Staples | 8.3% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Meta Platforms (Facebook)
META
$1.4T
| $478M | 5.59% |
2,459,270
-614,400
| -20% | -$111M |
|
2
Alphabet (Google) Class C
GOOG
$4.18T
| $456M | 5.33% |
8,167,620
-1,005,100
| -11% | -$54.3M |
|
3
Microsoft
MSFT
$3.59T
| $424M | 4.95% |
4,296,293
+130,223
| +3% | +$12.6M |
|
|
4
Walt Disney
DIS
$186B
| $382M | 4.46% |
+3,640,348
| New | +$372M |
|
|
5
Dollar Tree
DLTR
$25.3B
| $362M | 4.23% |
4,254,654
+4,073,164
| +2,244% | +$376M |
|
|
6
Mohawk Industries
MHK
$9.23B
| $319M | 3.73% |
1,487,806
+428,884
| +41% | +$93.9M |
|
|
7
Universal Health Services
UHS
$10.4B
| $315M | 3.68% |
2,822,797
-1,027,251
| -27% | -$120M |
|
|
8
T-Mobile US
TMUS
$196B
| $307M | 3.59% |
5,138,837
+1,551,433
| +43% | +$91.9M |
|
9
Intel
INTC
$476B
| $302M | 3.54% |
6,084,463
+110,659
| +2% | +$5.88M |
|
|
EVHC
10
DELISTED
Envision Healthcare Holdings Inc
EVHC
| $297M | 3.47% |
6,746,498
-2,679,303
| -28% | -$110M |
|
|
WCN
11
Waste Connections
WCN
$42.6B
| $253M | 2.96% |
3,366,070
-445,972
| -12% | -$33.3M |
|
|
SHPG
12
DELISTED
Shire pic
SHPG
| $248M | 2.9% |
1,469,786
-243,645
| -14% | -$39.3M |
|
13
DuPont de Nemours
DD
$18.7B
| $247M | 2.89% |
1,478,887
-350,467
| -19% | -$58.7M |
|
|
14
Mastercard
MA
$509B
| $224M | 2.62% |
1,140,877
+1,086,117
| +1,983% | +$204M |
|
|
SCHW
15
Charles Schwab
SCHW
$194B
| $213M | 2.49% |
4,167,695
+759,436
| +22% | +$42.1M |
|
16
Alibaba
BABA
$286B
| $211M | 2.46% |
1,135,580
+21,878
| +2% | +$4.17M |
|
17
Lowe's Companies
LOW
$121B
| $205M | 2.4% |
2,148,213
+73,543
| +4% | +$6.66M |
|
18
Adobe
ADBE
$109B
| $202M | 2.36% |
829,215
-255,900
| -24% | -$60.5M |
|
19
Centene
CNC
$32.1B
| $170M | 1.99% |
2,761,312
+1,478,788
| +115% | +$85.3M |
|
20
AB InBev
BUD
$155B
| $168M | 1.96% |
1,666,413
+565,600
| +51% | +$56.1M |
|
|
21
Visa
V
$693B
| $126M | 1.47% |
951,222
-1,736,310
| -65% | -$223M |
|
22
Ciena
CIEN
$56B
| $105M | 1.22% |
3,945,357
+2,480,763
| +169% | +$63M |
|
23
Applied Optoelectronics
AAOI
$10.6B
| $86M | 1.01% |
+1,914,835
| New | +$68M |
|
24
DXC Technology
DXC
$1.73B
| $84.5M | 0.99% |
1,048,044
-249,663
| -19% | -$21.5M |
|
25
Graphic Packaging
GPK
$3.54B
| $70.8M | 0.83% |
+4,882,326
| New | +$72.5M |
|
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Lee Ainslie's Q2 2018 Portfolio in Review
As of Q2 2018, Lee Ainslie held 315 positions worth $8.55B, up 10% from $7.75B the previous quarter. Its ten largest holdings account for 43% of the portfolio.
Lee Ainslie deployed $387M of net new capital in Q2 2018, opening 97 new positions and adding to 49 existing holdings. Its largest new stake was Walt Disney: 3,640,348 shares worth $382M.
By sector, the portfolio is most concentrated in Communication Services at 21% of assets, up from 18% a quarter earlier, followed by Technology and Consumer Discretionary.
On the sell side, the largest reduction was Visa, an estimated $223M trimmed.
- Lee Ainslie's largest Q2 2018 buy was Walt Disney: 3,640,348 shares worth $382M.
- Lee Ainslie added most to Dollar Tree in Q2 2018, an estimated $376M increase.
- Lee Ainslie's biggest Q2 2018 reduction was Visa, cutting an estimated $223M.
- Lee Ainslie fully exited Molson Coors Class B in Q2 2018, selling an estimated $81.5M.
- Lee Ainslie's ten largest holdings make up 43% of its $8.55B portfolio in Q2 2018.
- Lee Ainslie opened 97 new positions and closed 80 in Q2 2018.
- Lee Ainslie's portfolio value rose 10% quarter-over-quarter to $8.55B.
Based on Maverick Capital's 13F filing for Q2 2018, filed 14 Aug 2018.