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.
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Recommended reading
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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.