Maverick Capital

Q1 2015 13F · by Lee Ainslie, founder

As of: Mar 31, 2015
Filed: May 15, 2015
US stock: $6.2B · prev $6.4B
Positions: 119 · prev 45
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

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

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves134 since the prior filing

+38.8 pp in · −39.0 pp out

New 90 +19.43 pp
Added 14 +19.36 pp
Trimmed 14 −15.77 pp
Exited 16 −23.22 pp

The book

Focused · behaves like 27 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

High turnover · 146% a year, about 0.7 years per position

Low
Moderate
High

Top 5 positions29% of US stock

unresolved Priceline Grp Inc added+4.69 pp added+4.696.7%
GOOG Alphabet Inc. Class C added+0.78 pp added+0.786.2%
ARMK Aramark new+5.66 pp new+5.665.7%
VISN Vistance Networks, Inc. added+2.83 pp added+2.835.4%
SC Santander Consumer USA Holdings Inc trimmed+0.61 pp trimmed+0.615.0%

Positions119 in this filing · 16 exited


unresolvedPriceline Grp Inc	6.67%	355,951	$414M	added×3.2	+4.69 pp	2 q
GOOGAlphabet Inc. Class C	6.22%	705,336	$387M	added+7%	+0.78 pp	2 q
ARMKAramark	5.66%	11,117,977	$352M	new	+5.66 pp	new
VISNVistance Networks, Inc.	5.36%	11,659,062	$333M	added+65%	+2.83 pp	2 q
SCSantander Consumer USA Holdings Inc	5.05%	13,572,219	$314M	trimmed−6%	+0.61 pp	5 q
unresolvedAvago Technologies Ltd	4.94%	2,417,005	$307M	added×2.6	+3.48 pp	2 q
TDGTransDigm Group Incorporated	4.75%	1,348,272	$295M	trimmed−6%	+0.34 pp	8 q
RDNRadian Group Inc.	4.70%	17,390,892	$292M	added+17%	+0.79 pp	7 q
ADBEAdobe Inc.	4.11%	3,455,606	$256M	added+22%	+0.89 pp	7 q
unresolvedValeant Pharmaceuticals Intl	4.08%	1,275,861	$253M	trimmed−47%	−1.36 pp	6 q
BIDUBaidu, Inc.	3.67%	1,092,777	$228M	new	+3.67 pp	new
unresolvedTeam Health Holdings Inc	3.50%	3,714,737	$217M	added×2.4	+2.08 pp	2 q
VMCVulcan Materials Company(Holding Company)	3.08%	2,270,486	$191M	trimmed−20%	+0.17 pp	3 q
SABRSabre Corporation	2.74%	7,003,327	$170M	added+6%	+0.63 pp	4 q
MUMicron Technology, Inc.	2.63%	6,029,240	$164M	new	+2.63 pp	new
AERAercap Holdings N.V.	2.59%	3,680,442	$161M	trimmed−29%	−0.56 pp	5 q
LBTYKLiberty Global Ltd. Class C	2.30%	2,871,515	$143M	trimmed−56%	−2.68 pp	5 q
FLTCorpay, Inc.	2.17%	893,641	$135M	trimmed−2%	+0.04 pp	5 q
unresolvedSolarwinds Inc	2.11%	2,563,359	$131M	trimmed−31%	−0.79 pp	8 q
MTGMGIC Investment Corp.	2.10%	13,562,217	$131M	added+38%	+0.66 pp	8 q
unresolvedNorthstar Rlty Fin Corp	2.06%	7,056,628	$128M	added+83%	+1.00 pp	3 q
BUDAnheuser-Busch INBEV SA/NV	1.84%	936,651	$114M	added×2.6	+1.21 pp	8 q
UHSUniversal Health Services, Inc. Class B	1.84%	969,941	$114M	added+16%	+0.38 pp	2 q
HALHalliburton Company	1.68%	2,385,406	$105M	trimmed−18%	−0.11 pp	2 q
unresolvedKraft Foods Group Inc	1.67%	1,190,000	$104M	new	+1.67 pp	new
MCKMcKesson Corporation	1.58%	432,691	$98M	trimmed−67%	−2.67 pp	4 q
unresolvedActavis PLC	1.51%	316,188	$94M	new	+1.51 pp	new
unresolvedWaste Connections Inc	1.32%	1,697,739	$82M	trimmed−42%	−0.70 pp	4 q
HCAHCA Healthcare, Inc.	1.06%	874,177	$66M	trimmed−73%	−2.72 pp	8 q
ADSKAutodesk Inc	1.02%	1,084,740	$64M	new	+1.02 pp	new
VRTXVertex Pharmaceuticals Inc	1.00%	524,867	$62M	new	+1.00 pp	new
unresolvedSensata Technologies Hldng NV	0.92%	992,592	$57M	new	+0.92 pp	new
LBTYALiberty Global Ltd. Class A	0.83%	1,006,059	$52M	added+5%	+0.07 pp	8 q
AWIArmstrong World Industries, Inc.	0.76%	820,111	$47M	new	+0.76 pp	new
PACBPacific Biosciences of California, Inc.	0.66%	7,061,034	$41M	added+9%	−0.13 pp	8 q
CYHCommunity Health Systems, Inc.	0.56%	667,529	$35M	trimmed−28%	−0.22 pp	8 q
SUMSummit Materials, Inc. Class A	0.36%	1,000,000	$22M	new	+0.36 pp	new
DGDollar General Corp.	0.27%	226,340	$17M	trimmed−95%	−5.12 pp	4 q
CSLTCastlight Health, Inc.	0.14%	1,144,324	$9M	held	—	5 q
YAlleghany Corporation	0.01%	1,510	$735,000	new	+0.01 pp	new
MSFTMicrosoft Corp	0.01%	15,920	$647,000	new	+0.01 pp	new
NAVINavient Corporation	0.01%	32,630	$663,000	new	+0.01 pp	new
NXSTNexstar Media Group, Inc.	0.01%	12,790	$732,000	new	+0.01 pp	new
NKENike, Inc.	0.01%	7,300	$732,000	new	+0.01 pp	new
ORLYO'Reilly Automotive, Inc.	0.01%	3,390	$733,000	new	+0.01 pp	new
ODFLOld Dominion Freight Line	0.01%	8,810	$681,000	new	+0.01 pp	new
PPGPPG Industries, Inc.	0.01%	3,020	$681,000	new	+0.01 pp	new
ROPRoper Technologies, Inc.	0.01%	4,210	$724,000	new	+0.01 pp	new
ROSTRoss Stores Inc	0.01%	6,600	$695,000	new	+0.01 pp	new
SHWThe Sherwin-Williams Company	0.01%	2,550	$725,000	new	+0.01 pp	new
SAVEQSpirit Airlines, Inc.	0.01%	9,150	$708,000	new	+0.01 pp	new
SYMCGen Digital Inc.	0.01%	27,880	$651,000	new	+0.01 pp	new
unresolvedTesoro Corp	0.01%	7,600	$694,000	new	+0.01 pp	new
unresolvedTessera Technologies, Inc.	0.01%	17,430	$702,000	new	+0.01 pp	new
TWXTime Warner Inc	0.01%	8,750	$739,000	new	+0.01 pp	new
TRVThe Travelers Companies, Inc.	0.01%	6,570	$710,000	new	+0.01 pp	new
ULTAUlta Beauty, Inc.	0.01%	5,050	$762,000	new	+0.01 pp	new
UNPUnion Pacific Corp.	0.01%	5,800	$628,000	new	+0.01 pp	new
UTHRUnited Therapeutics Corp	0.01%	4,500	$776,000	new	+0.01 pp	new
VLOValero Energy Corporation	0.01%	11,310	$720,000	new	+0.01 pp	new
WSMWilliams-Sonoma, Inc.	0.01%	8,840	$705,000	new	+0.01 pp	new
unresolvedYahoo Inc	0.01%	15,750	$700,000	new	+0.01 pp	new
ABBVAbbvie Inc.	0.00%	4,320	$253,000	new	0.00 pp	new
AYIAcuity Inc.	0.00%	1,640	$276,000	new	0.00 pp	new
unresolvedAetna Inc New	0.00%	2,620	$279,000	new	0.00 pp	new
ALKAlaska Air Group, Inc.	0.00%	4,180	$277,000	new	0.00 pp	new
ALXNAlexion Pharmaceuticals Inc	0.00%	1,350	$234,000	new	0.00 pp	new
ALLThe Allstate Corporation	0.00%	3,560	$253,000	new	0.00 pp	new
AALAmerican Airlines Group Inc.	0.00%	5,450	$288,000	new	0.00 pp	new
AXPAmerican Express Company	0.00%	3,200	$250,000	new	0.00 pp	new
AMPAmeriprise Financial, Inc.	0.00%	1,890	$247,000	new	0.00 pp	new
AMGNAmgen Inc	0.00%	1,570	$251,000	new	0.00 pp	new
unresolvedAmtrust Finl Svcs Inc	0.00%	4,850	$276,000	new	0.00 pp	new
AAPLApple Inc.	0.00%	2,030	$253,000	new	0.00 pp	new
BBYD20230930-DK-BUTTERFLY-1 Inc	0.00%	3,500	$269,000	new	0.00 pp	new
BBYBest Buy Company, Inc.	0.00%	6,860	$259,000	new	0.00 pp	new
CFCF Industries Holding, Inc.	0.00%	850	$241,000	new	0.00 pp	new
CELGCelgene Corp	0.00%	2,230	$257,000	new	0.00 pp	new
CMGChipotle Mexican Grill, Inc.	0.00%	390	$254,000	new	0.00 pp	new
CSCOCisco Systems, Inc. (DE)	0.00%	8,990	$247,000	new	0.00 pp	new
COSTCostco Wholesale Corp	0.00%	1,760	$267,000	new	0.00 pp	new
DALDelta Air Lines, Inc.	0.00%	5,870	$264,000	new	0.00 pp	new
unresolvedDiamond Resorts Intl Inc	0.00%	7,540	$252,000	new	0.00 pp	new
unresolvedDirectv	0.00%	2,880	$245,000	new	0.00 pp	new
DLTRDollar Tree Inc.	0.00%	3,280	$266,000	new	0.00 pp	new
DPZDomino's Pizza Inc.	0.00%	2,650	$266,000	new	0.00 pp	new
EWEdwards Lifesciences Corp	0.00%	1,960	$279,000	new	0.00 pp	new
EXPEExpedia Group, Inc.	0.00%	2,930	$276,000	new	0.00 pp	new
METAMeta Platforms, Inc. Class A	0.00%	3,200	$263,000	new	0.00 pp	new
FDXFedEx Corporation	0.00%	1,440	$238,000	new	0.00 pp	new
FFIVF5, Inc.	0.00%	2,210	$254,000	new	0.00 pp	new
BENFranklin Templeton, Inc.	0.00%	4,850	$249,000	new	0.00 pp	new
GDGeneral Dynamics Corporation	0.00%	1,810	$246,000	new	0.00 pp	new
GILDGilead Sciences Inc	0.00%	2,650	$260,000	new	0.00 pp	new
unresolvedHsn Inc	0.00%	3,860	$263,000	new	0.00 pp	new
HDHome Depot, Inc.	0.00%	2,270	$258,000	new	0.00 pp	new
ITWIllinois Tool Works Inc.	0.00%	2,640	$256,000	new	0.00 pp	new
INFIQInfinity Pharms Inc	0.00%	17,200	$240,000	new	0.00 pp	new
NSPInsperity, Inc	0.00%	5,040	$264,000	new	0.00 pp	new
unresolvedIntegrated Device Technology	0.00%	12,760	$255,000	new	0.00 pp	new
INTUIntuit Inc	0.00%	2,710	$263,000	new	0.00 pp	new
JBLUJetBlue Airways Corp	0.00%	15,770	$304,000	new	0.00 pp	new
KRThe Kroger Co.	0.00%	3,670	$281,000	new	0.00 pp	new
LBBath & Body Works, Inc.	0.00%	2,890	$272,000	new	0.00 pp	new
LRCXLam Research Corp	0.00%	3,150	$221,000	new	0.00 pp	new
LOWLowe's Companies Inc.	0.00%	3,630	$270,000	new	0.00 pp	new
LULUlululemon athletica inc.	0.00%	3,820	$245,000	new	0.00 pp	new
MAMastercard Incorporated	0.00%	2,900	$251,000	new	0.00 pp	new
unresolvedMead Johnson Nut'n Co	0.00%	2,480	$249,000	new	0.00 pp	new
MELIMercado Libre, Inc	0.00%	1,960	$240,000	new	0.00 pp	new
MCOMoody's Corporation	0.00%	2,610	$271,000	new	0.00 pp	new
SKAASkechers USA Inc-cl A	0.00%	3,830	$275,000	new	0.00 pp	new
LUVSouthwest Airlines Co.	0.00%	5,910	$262,000	new	0.00 pp	new
SBUXStarbucks Corp	0.00%	2,790	$264,000	new	0.00 pp	new
unresolvedSupervalu Inc	0.00%	26,460	$308,000	new	0.00 pp	new
TXNTexas Instruments Incorporated	0.00%	4,440	$254,000	new	0.00 pp	new
TXRHTexas Roadhouse, Inc.	0.00%	6,940	$253,000	new	0.00 pp	new
UALUnited Airlines Holdings, Inc.	0.00%	4,010	$270,000	new	0.00 pp	new
UNHUNITEDHEALTH GROUP INCORPORATED (Delaware)	0.00%	2,300	$272,000	new	0.00 pp	new
unresolvedCBS Corp	—	−4,409,143	—	exited	−3.82 pp	—
unresolvedCalpine Corp	—	−8,691,707	—	exited	−3.01 pp	—
unresolvedQihoo 360 Technology Co. ADR	—	−3,300,510	—	exited	−2.96 pp	—
ALSNAllison Transmission Holdings, Inc.	—	−3,662,788	—	exited	−1.95 pp	—
CCICrown Castle Inc.	—	−1,579,520	—	exited	−1.95 pp	—
WBAWalgreens Boots Alliance, Inc	—	−1,261,752	—	exited	−1.51 pp	—
PTCPtc, Inc	—	−2,374,064	—	exited	−1.36 pp	—
unresolvedZulily Inc	—	−3,399,491	—	exited	−1.25 pp	—
JDJD.com, Inc.	—	−2,668,114	—	exited	−0.97 pp	—
unresolvedQlik Technologies Inc	—	−1,843,788	—	exited	−0.89 pp	—
NVSNovartis AG	—	−519,369	—	exited	−0.75 pp	—
unresolvedDelphi Automotive PLC	—	−644,043	—	exited	−0.73 pp	—
CXPColumbia Property Trust, Inc.	—	−1,511,277	—	exited	−0.60 pp	—
QSRRestaurant Brands International Inc.	—	−957,261	—	exited	−0.59 pp	—
ICEIntercontinental Exchange Inc.	—	−135,563	—	exited	−0.47 pp	—
BABAAlibaba Group Holding Limited	—	−250,000	—	exited	−0.41 pp	—