Jeff Vinik joined aXiomatic in June 2017 as an investor and Co-Executive Chairman. As the owner of the Tampa Bay Lightning, he has done more than just restore a once-flagging franchise; he has helped revitalize the Tampa Bay region.
Vinik has worked in the investment management business his entire career, beginning at Fidelity Investments in 1986. He progressed from researching the Oil Services Industry as an Equity Analyst (1986-1988) to being named an Assistant Portfolio Manager to Peter Lynch (1988-1989). Mr. Vinik was subsequently promoted to manage Fidelity’s Contrafund (1989-1990), Growth & Income Fund (1990-1992) and Magellan Fund (1992-1996). Additionally, during Vinik’s tenure at the helm of the Magellan Fund he was twice named the “Portfolio Manager of the Year”, first by Morningstar in 1993 and by Mutual Fund Magazine in 1995. In 1996, he left Fidelity to establish his own firm Vinik Asset Management, a long-short equities hedge fund based in Boston. Over a period of 17 years he delivered net returns of almost 15% per year, growing assets under management from $800 million in 1996 to just under $10 billion. In 2013, he returned all outside investor assets and closed Vinik Asset Management to focus his efforts on his growing business interests in Tampa.
The Tampa Bay Lightning remains a central focus for Vinik. Tampa Bay residents and fans of the Lightning have embraced the team wholeheartedly. According to the team’s website: “Off the ice, the Lightning brand has been completely transformed and the organization has been lauded by both ESPN (ranking in the Top 10 of 122 major sports teams in five of the past six years, including number one overall in 2016) and the Sports Business Journal (one of five finalists for Sports Team of the Year in 2016).”
Today, Vinik’s greatest project is the renaissance of Tampa Bay’s downtown area. He has partnered with Cascade Investment, LLC in order to transform Tampa’s downtown area into a thriving mixed-use community. The 10-year plan includes pedestrian-friendly streets, a new USF medical school, corporate headquarters, world-class hotels and amenities, residential blocks, and commercial spaces. Most recently, Viniks has partnered with Startup Accelerator Dreamit to help grow urban tech startups in Tampa Bay.