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 |
Meta Platforms (Facebook)
META
|
+$227M |
| 2 |
Dollar Tree
DLTR
|
+$160M |
| 3 |
Amazon
AMZN
|
+$137M |
| 4 |
Air Products & Chemicals
APD
|
+$57.8M |
| 5 |
Lam Research
LRCX
|
+$57.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Corpay
CPAY
|
+$242M |
| 2 |
DuPont de Nemours
DD
|
+$228M |
| 3 |
Restaurant Brands International
QSR
|
+$185M |
| 4 |
VISN
Vistance Networks Inc
VISN
|
+$176M |
| 5 |
Alibaba
BABA
|
+$135M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 22.72% |
| 2 | Communication Services | 19.37% |
| 3 | Consumer Discretionary | 18.3% |
| 4 | Technology | 15.31% |
| 5 | Materials | 7.94% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Meta Platforms (Facebook)
META
$1.4T
| $385M | 8.1% |
1,696,896
+1,085,179
| +177% | +$227M |
|
2
Humana
HUM
$45.5B
| $301M | 6.33% |
776,182
-164,652
| -18% | -$61.6M |
|
3
Microsoft
MSFT
$3.59T
| $296M | 6.22% |
1,452,662
+205,515
| +16% | +$37.3M |
|
|
4
DuPont de Nemours
DD
$18.7B
| $279M | 5.87% |
4,187,193
-3,911,099
| -48% | -$228M |
|
5
Alphabet (Google) Class C
GOOG
$4.18T
| $264M | 5.56% |
3,739,440
-489,620
| -12% | -$33M |
|
|
6
Amazon
AMZN
$2.79T
| $256M | 5.39% |
1,857,940
+1,131,800
| +156% | +$137M |
|
7
Netflix
NFLX
$331B
| $214M | 4.49% |
4,694,430
+162,530
| +4% | +$6.92M |
|
|
8
Alibaba
BABA
$286B
| $183M | 3.84% |
847,477
-650,307
| -43% | -$135M |
|
|
9
Dollar Tree
DLTR
$25.3B
| $179M | 3.76% |
1,926,718
+1,923,308
| +56,402% | +$160M |
|
10
Alnylam Pharmaceuticals
ALNY
$31.6B
| $165M | 3.47% |
1,113,608
-226,097
| -17% | -$30.5M |
|
11
Crown Holdings
CCK
$13B
| $149M | 3.13% |
2,283,787
-1,202,722
| -34% | -$75.7M |
|
|
ONEM
12
DELISTED
1Life Healthcare
ONEM
| $121M | 2.54% |
3,455,185
-2,500,000
| -42% | -$70.4M |
|
13
Nektar Therapeutics
NKTR
$2.53B
| $120M | 2.53% |
345,776
+19,216
| +6% | +$6M |
|
14
Atara Biotherapeutics
ATRA
$97.4M
| $98.4M | 2.07% |
270,164
+62,168
| +30% | +$15.7M |
|
15
KKR & Co
KKR
$97.4B
| $86.4M | 1.82% |
2,797,005
-2,099,951
| -43% | -$56.4M |
|
16
Avantor
AVTR
$9.78B
| $85.7M | 1.8% |
5,040,762
-584,361
| -10% | -$9.51M |
|
|
MNTA
17
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
| $77M | 1.62% |
2,314,756
+143,691
| +7% | +$4.58M |
|
|
18
Lam Research
LRCX
$393B
| $75M | 1.58% |
2,318,880
+2,114,790
| +1,036% | +$57.7M |
|
19
British American Tobacco
BTI
$121B
| $66M | 1.39% |
1,701,079
-78,227
| -4% | -$3M |
|
|
20
Air Products & Chemicals
APD
$67.9B
| $64.2M | 1.35% |
266,056
+253,247
| +1,977% | +$57.8M |
|
21
XP
XP
$8.53B
| $59.5M | 1.25% |
1,416,006
-1,315,449
| -48% | -$40.4M |
|
22
American Express
AXP
$227B
| $59M | 1.24% |
+619,428
| New | +$57M |
|
23
Frontdoor
FTDR
$5.69B
| $58.5M | 1.23% |
1,319,342
-228,446
| -15% | -$9.32M |
|
|
24
Corpay
CPAY
$27.4B
| $55.9M | 1.18% |
222,217
-1,017,928
| -82% | -$242M |
|
25
DXC Technology
DXC
$1.73B
| $54M | 1.13% |
3,270,245
-322,228
| -9% | -$5.12M |
|
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Lee Ainslie's Q2 2020 Portfolio in Review
As of Q2 2020, Lee Ainslie held 731 positions worth $4.75B, up 0.4% from $4.74B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Lee Ainslie withdrew a net $1.26B in Q2 2020, closing 168 positions and reducing 190 holdings. Its most notable exit was Restaurant Brands International, an estimated $185M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 23% of assets, up from 21% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Lee Ainslie opened a new position in American Express worth $59M.
- Lee Ainslie's largest Q2 2020 buy was American Express: 619,428 shares worth $59M.
- Lee Ainslie added most to Meta Platforms (Facebook) in Q2 2020, an estimated $227M increase.
- Lee Ainslie's biggest Q2 2020 reduction was Corpay, cutting an estimated $242M.
- Lee Ainslie fully exited Restaurant Brands International in Q2 2020, selling an estimated $185M.
- Lee Ainslie's ten largest holdings make up 53% of its $4.75B portfolio in Q2 2020.
- Lee Ainslie opened 265 new positions and closed 168 in Q2 2020.
- Lee Ainslie's portfolio value rose 0.4% quarter-over-quarter to $4.75B.
Based on Maverick Capital's 13F filing for Q2 2020, filed 14 Aug 2020.