Lee Ainslie's Maverick USA is up by about 32% year to date, although it was in the red for the second quarter. Over the last four years, the fund has boosted its exposure to the biotech sector from zero to the highest level in its history.
Q2 2021 hedge fund letters, conferences and more
Maverick now holds seven different long positions in biotech companies. Ainslie and Company believe they will continue generating meaningful alpha in the sector due to the combination of "durable fundamental tailwinds and structural market inefficiencies."
In the fund's second-quarter letter to investors, which was reviewed by ValueWalk, Ben Silver outlined the reasoning for their highest-ever exposure to...
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