Insight into Maverick Capital's Latest 13F Filing for Q4 2023
Lee Ainslie (Trades, Portfolio), a prominent figure in the investment world and the mastermind behind Maverick Capital, has recently disclosed his fund's 13F holdings for the fourth quarter of 2023. Ainslie, who honed his skills under the tutelage of Julian Robertson at Tiger Management (Trades, Portfolio), founded Maverick Capital in 1993 with an initial $38 million. His investment approach is deeply rooted in collaboration with industry experts across various sectors, ensuring a well-informed and strategic portfolio management process. This latest filing reveals significant moves in the financial sector, particularly with a notable investment in LPL Financial Holdings Inc.
Summary of New Buys
Lee Ainslie (Trades, Portfolio)'s Maverick Capital has expanded its portfolio with 172 new stocks. Key additions include:
- LPL Financial Holdings Inc (LPLA, Financial), with 485,100 shares, making up 2.22% of the portfolio and valued at $110.42 million.
- Southwest Gas Holdings Inc (SWX, Financial), comprising 1,121,988 shares, which is about 1.43% of the portfolio, valued at $71.08 million.
- Camden Property Trust (CPT, Financial), with 713,962 shares, accounting for 1.42% of the portfolio and valued at $70.89 million.
Key Position Increases
In addition to new acquisitions, Ainslie has increased positions in 86 stocks, with significant boosts to:
- SpringWorks Therapeutics Inc (SWTX, Financial), adding 2,235,456 shares for a total of 2,873,216 shares, marking a 350.52% increase and impacting the portfolio by 1.64%, valued at $104.87 million.
- Domino's Pizza Inc (DPZ, Financial), with an additional 144,828 shares, bringing the total to 279,246 shares, a 107.74% increase, valued at $115.11 million.
Summary of Sold Out Positions
The fourth quarter also saw Maverick Capital exit 127 positions, including:
- Union Pacific Corp (UNP, Financial), where Ainslie sold all 327,763 shares, impacting the portfolio by -1.51%.
- Abcam PLC (ABCM, Financial), with a complete sell-off of 2,446,122 shares, leading to a -1.25% portfolio impact.
Key Position Reductions
Ainslie's fund also reduced its stake in 81 stocks. Notable reductions include:
- Meta Platforms Inc (META, Financial) by 275,906 shares, a -47.01% decrease, affecting the portfolio by -1.87%. The stock traded at an average price of $325.65 during the quarter and has seen a 40.71% return over the past three months and 33.70% year-to-date.
- Coupang Inc (CPNG, Financial) by 4,020,522 shares, a -5.22% reduction, with a -1.54% impact on the portfolio. The stock's average trading price was $16.5 during the quarter, with a -4.73% return over the past three months and -6.73% year-to-date.
Portfolio Overview
As of the end of Q4 2023, Lee Ainslie (Trades, Portfolio)'s portfolio is composed of 348 stocks. The top holdings include 23.75% in Coupang Inc (CPNG), 4.38% in Amazon.com Inc (AMZN, Financial), 2.94% in Philip Morris International Inc (PM, Financial), 2.49% in Visa Inc (V, Financial), and 2.47% in Jones Lang LaSalle Inc (JLL, Financial). The investments span across all 11 industries, with a focus on Consumer Cyclical, Healthcare, Technology, Financial Services, Communication Services, Consumer Defensive, Real Estate, Utilities, Basic Materials, Industrials, and Energy.
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.
