Tiger Cub Lee Ainslie Warns About Valuations, Reveals Major Q2 Moves

Waste Connections Inc (USA) (NYSE:WCN)

– Shares Owned by Maverick Capital (as of June 30): 5.55 million

– Value of Maverick Capital’s Holding (as of June 30): $399.95 million

Maverick Capital acquired about 4.69 million shares of Waste Connections Inc (USA) (NYSE:WCN) during the three-month period ended June 30, ending the quarter with $399.95 million worth of the company’s stock. The Canada-based waste collection and disposal company earned $0.66 per share on $727.6 million in revenue during the second quarter, much better than analysts’ estimates of $0.52 in EPS on $712.34 million in revenue. On June 1, Waste Connections announced the completion of its merger with Progressive Waste Solutions. Waste Connections Inc (USA) (NYSE:WCN)’s stock has gained over 60% in market value since the start of 2016. 28 hedge funds in our system were shareholders of Waste Connections on June 30, owning 7.60% of its shares in aggregate.

American Express Company (NYSE:AXP)

– Shares Owned by Maverick Capital (as of June 30): 4.64 million

– Value of Maverick Capital’s Holding (as of June 30): $282.34 million

Maverick Capital amassed 4.63 million shares of American Express Company (NYSE:AXP) during the second quarter, adding them to a position that had contained just a few thousand shares on March 31 and ending the second quarter with a $282.34 million position in the New York-based financial services company. Last month, American Express reported second quarter EPS of $2.10 on $8.2 billion in revenue, versus the consensus estimates of $1.95 in EPS and $8.4 billion in revenue. The company’s return on average equity came in at 26.4%, down from 28.1% reported in the same quarter of last year. American Express Company (NYSE:AXP)’s stock is down by about 6% year-to-date. Gary Claar‘s Claar Advisors added a new American Express position to its portfolio during the second quarter, consisting of 235,000 shares.

Cisco Systems, Inc. (NASDAQ:CSCO)

– Shares Owned by Maverick Capital (as of June 30): 3.06 million

– Value of Maverick Capital’s Holding (as of June 30): $151.93 million

Cisco Systems, Inc. (NASDAQ:CSCO) was also added to Maverick Capital’s portfolio during the second quarter. The hedge fund acquired 3.06 million shares of the technology giant, whose stock is up by over 12% this year. Last week, Cisco reported its fiscal year 2016 fourth quarter earnings, which came in at $0.63 in EPS on $12.6 billion of revenue. For the first quarter of its fiscal year 2017, Cisco Systems, Inc. (NASDAQ:CSCO) expects to earn $0.58-to-$0.60 per share, versus the consensus estimate of $0.60. Following the upbeat earnings, Jefferies reaffirmed its ‘Buy’ recommendation for Cisco and boosted its price target on the stock to $35 from $30.75.

Disclosure: None