Lee Ainslie's Q1 2026 13F moves
TL;DR
Maverick Capital's Q1 2026 13F-HR (filed 2026-05-15) shows Lee Ainslie — a Tiger Cub running a long-short book — trimming broadly while rotating into mega-cap tech. Carpenter Technology (−61%), MasTec (−65%), Live Nation (−73%), CRH (−27%), Somnigroup (−33%), TSMC (−35%), Danaher (−12%) and even the top holding Amazon (−10%) were all reduced, while brand-new positions were opened in Meta, Alphabet and bitcoin miner Hut 8. Every move is reconstructable from EDGAR using Form 13F-HR.
The Q1 2026 picture
Maverick is one of the original Tiger Cubs — Ainslie launched it after Julian Robertson's Tiger Management — and runs a fundamental long-short book. The 13F shows only the long side, but the Q1 2026 long book has a clear shape: a broad de-emphasis of industrials, materials and miscellaneous names, paired with fresh entries into the largest tech platforms.
Broad trims
- Carpenter Technology (CRS) −61%, MasTec (MTZ) −65%, Live Nation (LYV) −73% — the deepest cuts: specialty alloys, infrastructure construction, and live entertainment, each more than halved.
- CRH −27% to 9.6%, Somnigroup −33% to 8.1%, TSMC (TSM) −35% to 4.5%, Danaher (DHR) −12% to 4.8% — building materials, bedding, foundry and life-science tools all reduced.
- Amazon (AMZN) −10% — even the top holding (still 19.4%) was trimmed.
New positions
- Meta (META) 2.5%, Alphabet (GOOGL) 2.4% — brand-new mega-cap platform stakes, opened as the industrials were cut.
- Hut 8 (HUT) 2.0% — a new position in the bitcoin miner / compute-infrastructure name.
What the pattern signals
The rotation is out of industrials and materials, into mega-cap tech. The deepest trims hit Carpenter, MasTec, CRH, Somnigroup and Live Nation, while the only new positions were Meta, Alphabet and a bitcoin miner. Amazon stays the anchor but was lightened. On the long side, Maverick moved toward the platform names and away from the real-economy cyclicals.
One cross-fund detail is striking. The two industrials Ainslie cut hardest — Carpenter Technology (−61%) and MasTec (−65%) — are the exact names Lone Pine's Stephen Mandel was buying (Carpenter +38%, MasTec brand-new) as part of his AI-infrastructure bet. Two respected managers took opposite sides of the same two stocks in the same quarter — both fully visible in the public EDGAR record.
As with any long-short fund, the 13F hides Maverick's shorts and hedges, so this is the long-side direction only. But that direction is clear: lighter on cyclicals, fresh weight in the largest tech platforms.
How to verify this yourself
Every position change above is reconstructable from public SEC EDGAR filings. Steps:
- Open Maverick Capital's 13F-HR filing history on EDGAR (CIK 0001040273).
- Compare the Q1 2026 13F (filed 2026-05-15, report date 2026-03-31) line-by-line against the Q4 2025 13F (filed Feb 2026).
- Position changes appear as: decreased share counts (the Carpenter, MasTec, Live Nation, CRH, Somnigroup, TSMC, Amazon trims) and new CUSIP rows (Meta, Alphabet, Hut 8).
- Cross-reference with HoldLens's machine-readable /api/v1/snapshot/2026-Q1.json and the live Lee Ainslie portfolio page.
Our view
Six historical trades reconstructable from SEC EDGAR alone. Each essay traces the trade through 13F + Form 4 + DEF 14A filings.
Berkshire's 1988-89 KO purchase — $1.3B → ~$28B, untouched 37 years.
Berkshire's 2016-onward AAPL accumulation — largest equity position in firm history.
The $5B preferred + 700M-share warrants at $7.14 strike. ~$13B paper gain at 2017 exercise.
Appaloosa's $2B March 2009 distressed-bank bet (BAC + C + AIG). ~$7B returned. $4B Tepper payday.
Scion Capital's 2005-2008 subprime CDS trade — ~489% net return.
Pershing Square's 2012-2018 multi-year activist campaign.
September 16, 1992. The single-day macro trade that broke the Bank of England.
1997-2023 hold + board seat — the canonical long-duration value position.
2013-2016 long-side activism — public letter to Tim Cook, ~$2B realized gain.
Cite this page
Researchers, journalists, and Wikipedia editors — citation formats load with the page. HoldLens content is freely available for reference; please cite.
Recommended reading
The six books that map the mental model behind every 13F on this site.
Amazon affiliate links — as an Amazon Associate, HoldLens earns from qualifying purchases at no extra cost to you. These are the books we actually recommend. Always do your own research.
Every tracked manager's Q1 2026 moves + top consensus positions, in one place.
Every position, ConvictionScore, and quarter-over-quarter change — live, SEC-sourced.
Not investment advice. Sourced from public SEC EDGAR Form 13F-HR filings (Maverick Capital CIK 0001040273). All position changes verifiable from Form 13F-HR alone. A 13F shows only long U.S.-listed positions — Maverick's shorts and hedges are not disclosed. 13F-HR data is a 45-day-lagged snapshot — see 45-day lag explained and methodology.