Maverick Capital, Ltd. 13F holdings and portfolio analysis
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Baseline
Mensagens de análiseQ&A pré-gerado sobre este fundo. Use como contexto de referência para sua própria análise.
Directly following the baseline exposes an investor to a moderately concentrated, filing-lagged portfolio with hidden technology concentration. Top-5 concentration is 28.57%, top-10 is 46.18%, and top-20 is 70.06%. The largest weights are Microsoft 6.71%, NVIDIA 6.71%, Amazon 6.63%, Alphabet 4.32%, and Philip Morris 4.20%. Sector weights are led by Information Technology at 22.06%, Consumer Discretionary at 16.27%, Health Care at 16.20%, and Financials at 11.34%. The backtest also flags 7,950 trades and 4.05 estimated cost, plus explicit filing-lag risk in the risk notes, so the exposure is not just stock selection risk but also implementation drag and delayed information risk.
The recent quarters show why the baseline can add alpha but still feel inconsistent. The clearest strong periods were 2023-06-30 with 0.44% return versus -1.77% for SPY, a 2.21-point excess return, and 2024-12-31 with -1.24% versus SPY at -3.63%, a 2.39-point excess return. But weak quarters such as 2023-12-31 delivered only 2.08% versus SPY's 4.96% (-2.88 excess), 2024-06-30 returned 7.34% versus 9.83% (-2.49 excess), and 2025-03-31 returned 5.37% versus 9.22% (-3.85 excess) with turnover spiking to 52.27. That trade-off matches the overall profile: good long-run alpha at 2.19, but uneven benchmark-relative execution quarter to quarter.
Before accepting the baseline, a user should inspect three things: first, the real industry composition behind the 22.06% Information Technology weight and the 28.57% top-5 concentration; second, the quarterly excess-return pattern, because periods like 2023-12-31, 2024-06-30, and 2025-03-31 lagged SPY by 2.88, 2.49, and 3.85 points; third, implementation friction, since the baseline used 7,950 trades with 4.05 estimated cost and explicit reporting-lag risk. The strategy summary itself says benchmark-relative consistency is mixed, so the next step is not just checking return but confirming whether the concentration, lag, and turnover are tolerable for your use case.