Maverick Capital

Q3 2013 13F · by Lee Ainslie, founder

As of: Sep 30, 2013
Filed: Nov 14, 2013
US stock: $7.4B · prev $7.4B
Positions: 63 · prev 57
Options notional: $0
Documents: 1· no amendments

Picture99.8% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 99.8%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.2%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves79 since the prior filing

+31.5 pp in · −31.5 pp out

New 23 +16.15 pp
Added 19 +15.32 pp
Trimmed 20 −10.30 pp
Exited 17 −21.19 pp

The book

Diversified · behaves like 41 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 125% a year, about 0.8 years per position

Low
Moderate
High

Top 5 positions19% of US stock

unresolved Charter Comm's Inc new+3.89 pp new+3.893.9%
HD Home Depot, Inc. added+2.08 pp added+2.083.9%
unresolved Priceline Grp Inc trimmed−0.04 pp trimmed−0.043.8%
QCOM Qualcomm Inc trimmed−0.10 pp trimmed−0.103.7%
LBTYA Liberty Global Ltd. Class A trimmed+0.21 pp trimmed+0.213.6%

Positions63 in this filing · 17 exited


unresolvedCharter Comm's Inc	3.89%	2,124,511	$286M	new	+3.89 pp	new
HDHome Depot, Inc.	3.88%	3,765,214	$286M	added×2.2	+2.08 pp	2 q
unresolvedPriceline Grp Inc	3.80%	276,726	$280M	trimmed−19%	−0.04 pp	2 q
QCOMQualcomm Inc	3.70%	4,047,393	$272M	trimmed−12%	−0.10 pp	2 q
LBTYALiberty Global Ltd. Class A	3.57%	3,311,993	$263M	trimmed−2%	+0.21 pp	2 q
unresolvedExpress Scripts Hldg Co	3.51%	4,184,162	$259M	added×2.7	+2.23 pp	2 q
unresolvedSolarwinds Inc	3.40%	7,134,142	$250M	added+69%	+1.18 pp	2 q
TDGTransDigm Group Incorporated	3.38%	1,794,259	$249M	added+47%	+0.78 pp	2 q
DGDollar General Corp.	3.37%	4,402,654	$249M	trimmed−1%	+0.34 pp	2 q
CYHCommunity Health Systems, Inc.	3.01%	5,345,910	$222M	added×2.1	+1.43 pp	2 q
NVRNVR, Inc.	2.93%	235,030	$216M	added+43%	+0.87 pp	2 q
UPSUnited Parcel Service, Inc. Class B	2.75%	2,218,405	$203M	trimmed−23%	−0.65 pp	2 q
NTAPNetApp, Inc	2.67%	4,607,350	$196M	trimmed−18%	−0.22 pp	2 q
FISFidelity National Information Services, Inc.	2.50%	3,964,641	$184M	trimmed−1%	+0.18 pp	2 q
CTXSCitrix Systems Inc	2.46%	2,563,524	$181M	trimmed−37%	−0.87 pp	2 q
unresolvedCrwn Castle Int'l Corp.	2.46%	2,476,589	$181M	trimmed−26%	−0.85 pp	2 q
AAPLApple Inc.	2.41%	371,822	$177M	trimmed−53%	−1.81 pp	2 q
unresolvedCameron International Corp	2.36%	2,982,721	$174M	added+66%	+0.87 pp	2 q
unresolvedFidelity National Financial	2.23%	6,170,625	$164M	added+27%	+0.66 pp	2 q
FTNTFortinet, Inc.	2.20%	7,997,621	$162M	trimmed−33%	−0.63 pp	2 q
HCAHCA Healthcare, Inc.	2.14%	3,694,317	$158M	trimmed−36%	−0.67 pp	2 q
unresolvedQlik Technologies Inc	2.07%	4,444,612	$152M	added+36%	+0.82 pp	2 q
RLRalph Lauren Corporation	2.05%	914,767	$151M	added×2.7	+1.26 pp	2 q
PANWPalo Alto Networks, Inc.	2.00%	3,222,459	$148M	added+26%	+0.53 pp	2 q
METMetLife, Inc.	1.83%	2,864,566	$134M	added+48%	+0.63 pp	2 q
HOUSAnywhere Real Estate Inc.	1.78%	3,052,564	$131M	trimmed−22%	−0.79 pp	2 q
COFCapital One Financial	1.56%	1,666,596	$115M	trimmed−23%	−0.28 pp	2 q
unresolvedTeam Health Holdings Inc	1.45%	2,807,551	$107M	added+18%	+0.12 pp	2 q
FMXFomento Economico Mexicano, S.a.b. De C.v.	1.40%	1,065,502	$103M	trimmed−16%	−0.38 pp	2 q
BUDAnheuser-Busch INBEV SA/NV	1.35%	1,001,109	$99M	added+7%	+0.21 pp	2 q
ADSKAutodesk Inc	1.35%	2,420,907	$100M	new	+1.35 pp	new
unresolvedTwenty First Centy Fox Inc	1.35%	2,973,777	$100M	new	+1.35 pp	new
unresolvedCompanhia De Bebidas Spon ADR Pfd	1.34%	2,581,599	$99M	added×2.0	+0.70 pp	2 q
LOWLowe's Companies Inc.	1.31%	2,029,237	$97M	trimmed−71%	−2.51 pp	2 q
NOVNOV Inc.	1.31%	1,233,180	$96M	added+22%	+0.36 pp	2 q
METAMeta Platforms, Inc. Class A	1.28%	1,875,657	$94M	new	+1.28 pp	new
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	1.24%	1,279,314	$92M	trimmed−49%	−0.97 pp	2 q
unresolvedColfax Corp	1.18%	1,541,690	$87M	trimmed−6%	+0.02 pp	2 q
NBISNebius Group N.V. Class A	1.18%	2,388,308	$87M	new	+1.18 pp	new
unresolvedNielsen Holdings N V	0.98%	1,976,225	$72M	added+7%	+0.14 pp	2 q
MTGMGIC Investment Corp.	0.96%	9,745,748	$71M	trimmed−34%	−0.26 pp	2 q
NVSNovartis AG	0.84%	804,099	$62M	added+8%	+0.13 pp	2 q
unresolvedManitowoc Inc	0.73%	2,767,903	$54M	new	+0.73 pp	new
unresolvedCBS Corp	0.69%	920,508	$51M	new	+0.69 pp	new
unresolvedMonsanto Co	0.69%	484,500	$51M	new	+0.69 pp	new
unresolvedViropharma Inc	0.67%	1,250,175	$49M	new	+0.67 pp	new
RDNRadian Group Inc.	0.66%	3,509,614	$49M	new	+0.66 pp	new
DHID.R. Horton Inc.	0.63%	2,397,988	$47M	new	+0.63 pp	new
GWRGenesee & Wyoming Inc.	0.63%	498,691	$46M	new	+0.63 pp	new
CCitigroup Inc.	0.62%	940,000	$46M	new	+0.62 pp	new
ADBEAdobe Inc.	0.53%	753,228	$39M	new	+0.53 pp	new
PACBPacific Biosciences of California, Inc.	0.44%	5,814,719	$32M	added+65%	+0.32 pp	2 q
SHLDSears Holdings Corp	0.42%	517,974	$31M	new	+0.42 pp	new
unresolvedHealth Mgmt Assoc Inc New	0.38%	2,204,958	$28M	new	+0.38 pp	new
unresolvedRestoration Hardware Hldgs I	0.26%	300,000	$19M	new	+0.26 pp	new
ZTSZoetis Inc.	0.15%	359,948	$11M	new	+0.15 pp	new
unresolvedCapital One Financial 2018 Warrants	0.05%	115,900	$3M	held	—	2 q
Royal Bk Scotlnd Grp PLCconvertible	0.01%	47,881	$1M	new	+0.01 pp	new
Royal Bk Scotlnd Grp PLCconvertible	0.01%	31,954	$699,000	new	+0.01 pp	new
Royal Bk Scotlnd Grp PLCconvertible	0.01%	30,000	$617,000	new	+0.01 pp	new
Royal Bk Scotlnd Grp PLCconvertible	0.01%	50,000	$1M	new	+0.01 pp	new
Royal Bk Scotlnd Grp PLCconvertible	0.00%	15,000	$313,000	trimmed−79%	−0.02 pp	2 q
Royal Bk Scotlnd Grp PLCconvertible	0.00%	9,404	$186,000	new	0.00 pp	new
MMacy's Inc.	—	−4,884,925	—	exited	−3.18 pp	—
FFIVF5, Inc.	—	−3,010,888	—	exited	−2.81 pp	—
CTSHCognizant Technology Solutions	—	−2,825,162	—	exited	−2.40 pp	—
MAMastercard Incorporated	—	−262,431	—	exited	−2.05 pp	—
VMWVMware, Inc	—	−2,207,055	—	exited	−2.01 pp	—
CRMSalesforce, Inc.	—	−3,019,873	—	exited	−1.56 pp	—
unresolvedWhole Foods Market	—	−1,730,042	—	exited	−1.21 pp	—
LRCXLam Research Corp	—	−1,637,817	—	exited	−0.99 pp	—
unresolvedFamily Dlr Stores Inc	—	−1,124,365	—	exited	−0.95 pp	—
unresolvedE M C Corp Mass	—	−2,521,892	—	exited	−0.81 pp	—
VRSNVeriSign Inc	—	−1,312,077	—	exited	−0.80 pp	—
unresolvedNews Corp	—	−1,490,672	—	exited	−0.66 pp	—
unresolvedValeant Pharmaceuticals Intl	—	−561,601	—	exited	−0.66 pp	—
unresolvedTibco Software Inc	—	−1,777,517	—	exited	−0.52 pp	—
FLTCorpay, Inc.	—	−254,530	—	exited	−0.28 pp	—
ASMLASML Holding NV	—	−247,326	—	exited	−0.27 pp	—
DECKDeckers Outdoor Corp	—	−42,274	—	exited	−0.03 pp	—