What if you had copied Maverick Capital?
Lee Ainslie
The verdict
Copying Maverick Capital's 13F filings from Feb 2020 would have turned $10,000 into $18,168, less than the S&P 500 did.
The S&P 500 turned the same $10,000 into $24,639 over the same days. The copy returned +9.3% a year against +14.4% for the S&P 500, 5.1 points a year behind. Its worst fall was 61.1%, from Jul 13, 2021 to Jun 13, 2022. The S&P 500's worst fall over the test was 33.7%.
Copied Feb 18, 2020 to Nov 9, 2026 · SEC 13F filings and daily closes
What $10,000 became
- Copying Maverick Capital$18,168
- S&P 500$24,639
- Bought their first portfolio and never traded$17,239
If you had bought their first portfolio and never traded, you would have ended at $17,239, so following every move earned $929 more.
- $10,000 copied
- $18,168
- +81.7%, +9.3% a year
- In the S&P 500
- $24,639
- +146.4%, +14.4% a year
- No trading
- $17,239
- Bought their first portfolio and never traded
- Worst fall
- −61.1%
- Jul 13, 2021 to Jun 13, 2022
- Trades
- 603
- 326 buys, 277 sales over 31 filings; about 97% of the copy traded a year
The moves that made the most
- NVDANVIDIA+$997
Held since Feb 2022, the stock up 337%
- GMEGamestop+$967
Held from May 2020 to May 2021, the stock up 1,470%
- METAMeta Platforms+$901
Held since May 2020, the stock up 261%
Held since May 2021, the stock up 351%
- NTRANatera+$635
Held since May 2024, the stock up 195%
Held since Aug 2023, the stock up 134%
The moves that cost the most
- CPNGCoupang−$2,438
Held from May 2021 to May 2026, the stock down 58%
- SEER−$625
Held from Feb 2021 to Nov 2022, the stock down 86%
- INTCIntel−$417
Held since Feb 2020, the stock down 50%
- BSXBoston Scientific−$254
Held since Feb 2026, the stock down 42%
Held since Nov 2021, the stock down 91%
- DXCDXC Technology−$198
Held from Feb 2020 to May 2021
Year by year
| Year | Copy | S&P 500 | Gap, pts |
|---|---|---|---|
| 2020from Feb 2020 | +16.5% | +13.1% | +3.4 |
| 2021 | +0.1% | +28.7% | −28.6 |
| 2022 | −42.2% | −18.2% | −24.0 |
| 2023 | +43.6% | +26.2% | +17.4 |
| 2024 | +38.4% | +24.9% | +13.5 |
| 2025 | +25.8% | +17.7% | +8.1 |
| 2026to Nov 2026 | +7.8% | +11.5% | −3.7 |
A historical test on paper, before costs and taxes. It trades at the close of the first trading day after each filing comes out, up to 45 days after the quarter, and skips delisted companies, which flatters it.