Lee Ainslie disclosed in his Q1 2026 13F filing that he fully exited five positions — UNP ($304M), SCHW ($125M), BTU ($121M), LRCX ($108M), and SGI ($102M). Maverick Capital's total assets under management (AUM) stand at $5.6B across 20 holdings, with NVDA remaining the top position at 6.4% ($554M).
Top 5 Holdings — Q1 2026
- NVDA: $554M (6.4%)
- AMZN: $483M (5.6%)
- TSM: $418M (4.8%)
- ASML: $341M (3.9%)
- NU: $323M (3.7%)
Key Portfolio Moves
The top 10 holdings are led by NVDA (6.4%), AMZN (5.6%), TSM (4.8%), ASML (3.9%), and NU (3.7%), followed by AMAT, MSFT, RTX, BSX, and AGX. NU saw the largest increase, up 92% to $323M, while BSX rose 42% to $263M. NVDA held steady with a modest 6% increase, reaffirming its status as the top holding.
- UNP: Fully exited $304M — complete exit from the railroad sector
- NU: +92% stake increase to $323M — sharply deepened fintech bet
- LIN: New position $211M — first entry into industrial gases
Five new positions were added: LIN ($211M), INFQ ($196M), ABT ($181M), RGEN ($179M), and DHR ($155M) — a clear pivot toward healthcare and industrials. Meanwhile, UNP, SCHW, BTU, LRCX, and SGI were fully exited and removed from the portfolio, while DIS, RBLX, and LTH were cut by 99%, 98%, and 94% respectively, effectively winding down those positions.
Portfolio Outlook
Lee Ainslie maintained his core big-tech and semiconductor positions — NVDA, AMZN, TSM — while aggressively expanding growth bets like NU and BSX. The exit from traditional sectors such as UNP and SCHW, paired with reallocation into healthcare and industrials names like LIN, ABT, and DHR, signals that a broader portfolio rebalancing is now underway.
