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 |
Seer Inc
SEER
|
+$345M |
| 2 |
Applied Materials
AMAT
|
+$164M |
| 3 |
MGM Resorts International
MGM
|
+$129M |
| 4 |
Corpay
CPAY
|
+$110M |
| 5 |
Adobe
ADBE
|
+$101M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Humana
HUM
|
+$158M |
| 2 |
Corning
GLW
|
+$146M |
| 3 |
Dollar Tree
DLTR
|
+$137M |
| 4 |
KKR & Co
KKR
|
+$77.9M |
| 5 |
DuPont de Nemours
DD
|
+$75.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 26.08% |
| 2 | Healthcare | 21.96% |
| 3 | Consumer Discretionary | 18.94% |
| 4 | Communication Services | 13.8% |
| 5 | Materials | 6.04% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Meta Platforms (Facebook)
META
$1.4T
| $443M | 7.09% |
1,620,942
+260,094
| +19% | +$71.3M |
|
|
2
DuPont de Nemours
DD
$18.7B
| $346M | 5.54% |
3,876,744
-964,528
| -20% | -$75.7M |
|
3
Microsoft
MSFT
$3.59T
| $320M | 5.13% |
1,439,309
+232,921
| +19% | +$50.1M |
|
|
4
Seer Inc
SEER
$112M
| $279M | 4.47% |
+5,425,513
| New | +$345M |
|
|
5
Applied Materials
AMAT
$391B
| $269M | 4.3% |
3,115,330
+2,221,298
| +248% | +$164M |
|
6
Lam Research
LRCX
$393B
| $268M | 4.29% |
5,670,480
-1,686,090
| -23% | -$70.9M |
|
|
7
Corpay
CPAY
$27.4B
| $267M | 4.28% |
979,538
+429,479
| +78% | +$110M |
|
8
Alphabet (Google) Class C
GOOG
$4.18T
| $252M | 4.04% |
2,880,700
+199,520
| +7% | +$16.8M |
|
9
Alibaba
BABA
$286B
| $216M | 3.46% |
929,056
+123,817
| +15% | +$34.4M |
|
10
Amazon
AMZN
$2.79T
| $169M | 2.7% |
1,037,240
-404,780
| -28% | -$64.6M |
|
11
TG Therapeutics
TGTX
$8.31B
| $167M | 2.67% |
3,202,061
-1,190,135
| -27% | -$40.2M |
|
|
ONEM
12
DELISTED
1Life Healthcare
ONEM
| $160M | 2.56% |
3,661,204
-293,981
| -7% | -$10M |
|
|
13
MGM Resorts International
MGM
$11B
| $158M | 2.53% |
+5,017,643
| New | +$129M |
|
14
Netflix
NFLX
$331B
| $157M | 2.51% |
2,896,040
-66,500
| -2% | -$3.37M |
|
15
Crown Holdings
CCK
$13B
| $152M | 2.44% |
1,518,357
-692,497
| -31% | -$63.6M |
|
16
Atara Biotherapeutics
ATRA
$97.4M
| $144M | 2.3% |
292,982
+23,130
| +9% | +$10.7M |
|
|
17
Adobe
ADBE
$109B
| $135M | 2.16% |
269,861
+209,611
| +348% | +$101M |
|
18
Alnylam Pharmaceuticals
ALNY
$31.6B
| $128M | 2.05% |
984,502
+17,041
| +2% | +$2.28M |
|
19
American Express
AXP
$227B
| $125M | 2% |
1,035,389
-33,839
| -3% | -$3.75M |
|
|
20
Humana
HUM
$45.5B
| $117M | 1.88% |
286,322
-379,665
| -57% | -$158M |
|
21
Nektar Therapeutics
NKTR
$2.53B
| $113M | 1.81% |
443,708
+65,160
| +17% | +$16.8M |
|
22
LivaNova
LIVN
$4.34B
| $110M | 1.77% |
1,668,922
-179,366
| -10% | -$9.97M |
|
|
PRSP
23
DELISTED
Perspecta Inc. Common Stock
PRSP
| $110M | 1.76% |
4,563,535
-15,900
| -0.3% | -$341K |
|
24
Blackstone
BX
$108B
| $92.9M | 1.49% |
1,433,368
-201,167
| -12% | -$11.7M |
|
25
GameStop
GME
$8.17B
| $87.8M | 1.41% |
18,634,428
+11,579,028
| +164% | +$39.9M |
|
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Lee Ainslie's Q4 2020 Portfolio in Review
As of Q4 2020, Lee Ainslie held 832 positions worth $6.25B, up 16% from $5.38B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Lee Ainslie's Q4 2020 filing shows 271 new, 110 increased, 277 reduced and 171 closed positions. Its largest new stake was Seer Inc: 5,425,513 shares worth $279M. The largest sale was Humana, an estimated $158M.
By sector, the portfolio is most concentrated in Technology at 26% of assets, up from 24% a quarter earlier, followed by Healthcare and Consumer Discretionary.
- Lee Ainslie's largest Q4 2020 buy was Seer Inc: 5,425,513 shares worth $279M.
- Lee Ainslie added most to Applied Materials in Q4 2020, an estimated $164M increase.
- Lee Ainslie's biggest Q4 2020 reduction was Humana, cutting an estimated $158M.
- Lee Ainslie fully exited Dollar Tree in Q4 2020, selling an estimated $137M.
- Lee Ainslie's ten largest holdings make up 45% of its $6.25B portfolio in Q4 2020.
- Lee Ainslie opened 271 new positions and closed 171 in Q4 2020.
- Lee Ainslie's portfolio value rose 16% quarter-over-quarter to $6.25B.
Based on Maverick Capital's 13F filing for Q4 2020, filed 16 Feb 2021.