Lee Ainslie’s Maverick Capital Won With Coupang In 2021 [Exclusive]

Maverick Capital has a weak fourth quarter but a strong 2021, and Coupang was the primary driver of those results. In their fourth-quarter letter to investors, which was obtained by Hedge Fund Alpha, Lee Ainslie and his team said Coupang's successful initial public offering in 2021 dramatically benefited Maverick's returns.

Q4 2021 hedge fund letters, conferences and more

Excluding the South Korean e-commerce giant, the fund's portfolio generated a return on assets of 14.3% in 2021, resulting in negative alpha of -10.9% against the team's blend of the S&P 500 and MS World Indices. Coupang remains a dominant position in Maverick's portfolio, although it has tumbled precipitously this year and remains far below its 52-week high, which was hit...