Insights from Maverick Capital's Latest 13F Filing
Lee Ainslie (Trades, Portfolio), the founder and CEO of Maverick Capital, has once again made notable adjustments to his investment portfolio according to the 13F filing for the second quarter of 2024. Ainslie, who began his investment career under the tutelage of Julian Robertson at Tiger Management (Trades, Portfolio), launched Maverick Capital in 1993 with an initial $38 million. The firm, based in Dallas, leverages the expertise of six industry specialists to scout investment opportunities across various sectors, including consumer, healthcare, cyclical, retail, financial, and telecommunications, media, and technology. These insights form the crux of Ainslie's investment decisions.
Summary of New Buys
Lee Ainslie (Trades, Portfolio)'s Maverick Capital initiated positions in 86 new stocks during the quarter. Noteworthy additions include:
- Kellanova Co (K, Financial), purchasing 1,526,789 shares, making up 1.67% of the portfolio, valued at $88.07 million.
- Amphenol Corp (APH, Financial), with 907,535 shares, representing 1.16% of the portfolio, valued at $61.14 million.
- CBRE Group Inc (CBRE, Financial), acquiring 413,200 shares, accounting for 0.7% of the portfolio, valued at $36.82 million.
Key Position Increases
Significant increases were made in several existing positions, including:
- Microsoft Corp (MSFT, Financial), with an additional 416,173 shares, bringing the total to 600,004 shares. This represents a 226.39% increase in share count, impacting the portfolio by 3.53%, with a total value of $268.17 million.
- Micron Technology Inc (MU, Financial), adding 620,755 shares, for a total of 638,639 shares. This adjustment marks a 3471.01% increase in share count, valued at $84 million.
Summary of Sold Out Positions
Lee Ainslie (Trades, Portfolio) exited 223 holdings in the second quarter of 2024, including:
- Electronic Arts Inc (EA, Financial), selling all 702,830 shares, impacting the portfolio by -1.75%.
- Charles Schwab Corp (SCHW, Financial), liquidating all 1,273,057 shares, with a -1.73% portfolio impact.
Key Position Reductions
The portfolio saw reductions in 47 stocks, with significant cuts in:
- Coupang Inc (CPNG, Financial), reducing holdings by 25,003,292 shares, a -46.08% decrease, impacting the portfolio by -8.36%. The stock's average trading price was $21.68 during the quarter, with a -0.45% return over the past three months and a 36.81% year-to-date return.
- Salesforce Inc (CRM, Financial), cutting back 153,438 shares, a -36.19% reduction, impacting the portfolio by -0.87%. The stock traded at an average price of $267.58 during the quarter, with a -7.62% return over the past three months and a -2.70% year-to-date return.
Portfolio Overview
As of the second quarter of 2024, Lee Ainslie (Trades, Portfolio)'s portfolio comprised 267 stocks. Top holdings included 11.62% in Coupang Inc (CPNG), 5.27% in Amazon.com Inc (AMZN, Financial), 5.09% in Microsoft Corp (MSFT, Financial), 4.8% in NVIDIA Corp (NVDA, Financial), and 3.86% in Philip Morris International Inc (PM, Financial). The investments span across 11 industries, reflecting a diverse approach to asset allocation.
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.
