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Maverick’s Summertime Blues

Why Lee Ainslie III’s long-short fund got mauled again in August.

At the end of the second quarter, Coupang was Maverick’s largest U.S. common stock long. (SeongJoon Cho/Bloomberg)
At the end of the second quarter, Coupang was Maverick’s largest U.S. common stock long. (SeongJoon Cho/Bloomberg)

So much for Maverick Capital’s early-year surge.Maverick Fund, the long-short hedge fund headed by Tiger Cub Lee Ainslie, III, dropped another 9 percent or so in August alone, cutting its gain for the year to 21 percent, according to a hedge fund database.This is way down from its eye-popping gain

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