Lee Ainslie's Maverick Capital has significantly reduced its holding in Applied Materials (AMAT), selling over 99% of its position. According to its latest 13F filing, the firm's stake dropped from 869,940 shares to just 2,470. This disclosure, filed on August 14, 2026, reflects the firm's holdings as of June 30, 2026, so the trades occurred sometime during the second quarter.
This move marks a sharp reversal from Maverick's earlier stance, as they had established a large new position in the semiconductor equipment maker in the fourth quarter of 2025. During the second quarter of 2026, Applied Materials reported record revenue and earnings, citing strong demand driven by the build-out of AI computing infrastructure. Despite beating earnings estimates, the company's stock saw a drop after the announcement, suggesting potential investor concern over future guidance.