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 |
Restaurant Brands International
QSR
|
+$236M |
| 2 |
Corpay
CPAY
|
+$186M |
| 3 |
Humana
HUM
|
+$160M |
| 4 |
DuPont de Nemours
DD
|
+$147M |
| 5 |
ONEM
1Life Healthcare
ONEM
|
+$131M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Monster Beverage
MNST
|
+$341M |
| 2 |
MDCO
Medicines Co
MDCO
|
+$185M |
| 3 |
Westlake Corp
WLK
|
+$162M |
| 4 |
T-Mobile US
TMUS
|
+$153M |
| 5 |
Centene
CNC
|
+$149M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 23.18% |
| 2 | Technology | 22.82% |
| 3 | Healthcare | 21.03% |
| 4 | Communication Services | 13.36% |
| 5 | Materials | 8.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
DuPont de Nemours
DD
$18.7B
| $347M | 7.32% |
8,098,292
+2,407,828
| +42% | +$147M |
|
|
2
Humana
HUM
$45.5B
| $295M | 6.24% |
940,834
+475,055
| +102% | +$160M |
|
3
Alibaba
BABA
$286B
| $291M | 6.15% |
1,497,784
-416,565
| -22% | -$86.9M |
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $246M | 5.19% |
4,229,060
-1,952,580
| -32% | -$132M |
|
|
5
Corpay
CPAY
$27.4B
| $231M | 4.89% |
1,240,145
+674,416
| +119% | +$186M |
|
6
Crown Holdings
CCK
$13B
| $202M | 4.27% |
3,486,509
+656,156
| +23% | +$45.7M |
|
7
Microsoft
MSFT
$3.59T
| $197M | 4.15% |
1,247,147
+633,838
| +103% | +$104M |
|
|
8
Restaurant Brands International
QSR
$28.2B
| $185M | 3.9% |
4,612,010
+4,162,376
| +926% | +$236M |
|
|
VISN
9
Vistance Networks Inc
VISN
$2.59B
| $176M | 3.72% |
19,326,308
| – | – |
|
10
Netflix
NFLX
$331B
| $170M | 3.59% |
4,531,900
-3,513,840
| -44% | -$124M |
|
11
Alnylam Pharmaceuticals
ALNY
$31.6B
| $146M | 3.08% |
1,339,705
-921,192
| -41% | -$106M |
|
12
KKR & Co
KKR
$97.4B
| $115M | 2.43% |
4,896,956
+3,738,800
| +323% | +$107M |
|
13
Meta Platforms (Facebook)
META
$1.4T
| $102M | 2.15% |
611,717
+591,159
| +2,876% | +$116M |
|
|
ONEM
14
DELISTED
1Life Healthcare
ONEM
| $101M | 2.14% |
+5,955,185
| New | +$131M |
|
15
Nektar Therapeutics
NKTR
$2.53B
| $87.4M | 1.85% |
326,560
+110,478
| +51% | +$34.2M |
|
|
PRSP
16
DELISTED
Perspecta Inc. Common Stock
PRSP
| $72.5M | 1.53% |
3,977,303
-1,399,207
| -26% | -$33.7M |
|
17
Amazon
AMZN
$2.79T
| $70.8M | 1.49% |
+726,140
| New | +$70.3M |
|
|
18
T-Mobile US
TMUS
$196B
| $70.5M | 1.49% |
840,842
-1,803,070
| -68% | -$153M |
|
19
Avantor
AVTR
$9.78B
| $70.3M | 1.48% |
5,625,123
+1,980,755
| +54% | +$31.8M |
|
20
StoneCo
STNE
$2.16B
| $68.7M | 1.45% |
3,156,699
-1,084,371
| -26% | -$41.3M |
|
21
Adobe
ADBE
$109B
| $65.7M | 1.39% |
206,425
+27,891
| +16% | +$9.54M |
|
22
British American Tobacco
BTI
$121B
| $60.8M | 1.28% |
1,779,306
-664,839
| -27% | -$27.1M |
|
|
MNTA
23
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
| $59.1M | 1.25% |
+2,171,065
| New | +$60.4M |
|
24
Frontdoor
FTDR
$5.69B
| $53.8M | 1.14% |
1,547,788
+615,288
| +66% | +$26.2M |
|
25
XP
XP
$8.53B
| $52.7M | 1.11% |
2,731,455
+1,003,249
| +58% | +$33.9M |
|
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Lee Ainslie's Q1 2020 Portfolio in Review
As of Q1 2020, Lee Ainslie held 565 positions worth $4.74B, down 31% from $6.87B the previous quarter. Its ten largest holdings account for 49% of the portfolio.
Lee Ainslie withdrew a net $525M in Q1 2020, closing 99 positions and reducing 138 holdings. Its most notable exit was Medicines Co, an estimated $185M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, up from 18% a quarter earlier, followed by Technology and Healthcare.
Against the trend, Lee Ainslie opened a new position in 1Life Healthcare worth $101M.
- Lee Ainslie's largest Q1 2020 buy was 1Life Healthcare: 5,955,185 shares worth $101M.
- Lee Ainslie added most to Restaurant Brands International in Q1 2020, an estimated $236M increase.
- Lee Ainslie's biggest Q1 2020 reduction was Monster Beverage, cutting an estimated $341M.
- Lee Ainslie fully exited Medicines Co in Q1 2020, selling an estimated $185M.
- Lee Ainslie's ten largest holdings make up 49% of its $4.74B portfolio in Q1 2020.
- Lee Ainslie opened 228 new positions and closed 99 in Q1 2020.
- Lee Ainslie's portfolio value fell 31% quarter-over-quarter to $4.74B.
Based on Maverick Capital's 13F filing for Q1 2020, filed 15 May 2020.