Lee Ainslie's Strategic Moves in Q1 2024: A Deep Dive into Coupang Inc's Significant Reduction

In This Article:

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.

Lee Ainslie's Strategic Moves in Q1 2024: A Deep Dive into Coupang Inc's Significant Reduction
Lee Ainslie's Strategic Moves in Q1 2024: A Deep Dive into Coupang Inc's Significant Reduction

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 (NASDAQ:EA), purchasing 702,830 shares, making up 1.75% of the portfolio, valued at $93.24 million.

  • GFL Environmental Inc (NYSE:GFL), acquiring 2,690,397 shares, which represent 1.74% of the portfolio, with a total investment of $92.82 million.

  • Astera Labs Inc (NASDAQ:ALAB), 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 (NASDAQ:AMD), 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 (NASDAQ:SBUX), 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), selling all 2,493,217 shares, impacting the portfolio by -1.48%.

  • Workday Inc (NASDAQ:WDAY), 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 (NYSE:CPNG), 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 (NYSE:STZ), 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.