Insights from Maverick Capital's Latest 13F Filing
Lee Ainslie (Trades, Portfolio), the founder and CEO of Maverick Capital, has once again made notable changes to his investment portfolio in the first quarter of 2024. Ainslie, who started Maverick Capital in 1993 with $38 million after an apprenticeship under Julian Robertson at Tiger Management (Trades, Portfolio), continues to leverage his vast experience and a team of six industry experts to make informed investment decisions. These decisions span across various sectors including consumer, healthcare, cyclical, retail, financial, and telecommunications, media, and technology.
Summary of New Buys
Lee Ainslie (Trades, Portfolio)'s Maverick Capital initiated positions in 224 stocks during the quarter. Noteworthy new additions include:
- Electronic Arts Inc (EA, Financial), purchasing 702,830 shares, making up 1.75% of the portfolio, valued at $93.24 million.
- GFL Environmental Inc (GFL, Financial), acquiring 2,690,397 shares, which represent 1.74% of the portfolio, with a total investment of $92.82 million.
- Astera Labs Inc (ALAB, Financial), with 996,750 shares, accounting for 1.39% of the portfolio, valued at $73.95 million.
Key Position Increases
Lee Ainslie (Trades, Portfolio) also significantly increased his stakes in several companies, including:
- Advanced Micro Devices Inc (AMD, Financial), adding 284,610 shares, bringing the total to 290,269 shares. This adjustment marks a 5029.33% increase in share count, impacting the portfolio by 0.96%, with a total value of $52.39 million.
- Starbucks Corp (SBUX, Financial), with an additional 550,280 shares, bringing the total to 587,158 shares. This represents a 1492.16% increase in share count, valued at $53.66 million.
Summary of Sold Out Positions
In the first quarter of 2024, Lee Ainslie (Trades, Portfolio) exited 165 positions, including:
- Immunogen Inc (IMGN, Financial), selling all 2,493,217 shares, impacting the portfolio by -1.48%.
- Workday Inc (WDAY, Financial), liquidating all 235,949 shares, resulting in a -1.31% portfolio impact.
Key Position Reductions
Significant reductions were made in several holdings, notably:
- Coupang Inc (CPNG, Financial), reducing the stake by 18,781,036 shares, a -25.71% decrease, impacting the portfolio by -6.11%. The stock traded at an average price of $16.37 during the quarter and has seen a return of 42.89% over the past three months and 39.10% year-to-date.
- Constellation Brands Inc (STZ, Financial), cutting down by 340,200 shares, a -99.62% reduction, impacting the portfolio by -1.65%. The stock's average trading price was $253.05 during the quarter, with a return of 3.52% over the past three months and 5.24% year-to-date.
Portfolio Overview
As of the first quarter of 2024, Lee Ainslie (Trades, Portfolio)'s portfolio comprised 406 stocks. The top holdings included 18.14% in Coupang Inc (CPNG), 4.23% in Amazon.com Inc (AMZN, Financial), 3.58% in NVIDIA Corp (NVDA, Financial), 3.24% in Philip Morris International Inc (PM, Financial), and 2.97% in Jones Lang LaSalle Inc (JLL, Financial). The investments are well-distributed across all 11 industries, demonstrating a diversified strategy.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
