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Corvex Management Portfolio holdings

AUM $3.27B
1-Year Est. Return 38.53%
This Fund
S&P 500
This Quarter Est. Return
-17.77%
1 Year Est. Return
+38.53%
3 Year Est. Return
+95.78%
5 Year Est. Return
+93.81%
10 Year Est. Return
+360.33%
AUM
$2.69B
AUM Growth
+$508M
Cap. Flow
-$662M
Cap. Flow %
-24.62%
Top 10 Hldgs %
90.54%
Holding
41
New
11
Increased
3
Reduced
5
Closed
17

Top Buys

Rank Stock Value
1
FANG icon
Diamondback Energy
FANG
+$394M
2
MGM icon
MGM Resorts International
MGM
+$118M
3
ZEN
ZENDESK INC
ZEN
+$53.3M
4
TMUS icon
T-Mobile US
TMUS
+$32.5M
5
NOW icon
ServiceNow
NOW
+$23.9M

Top Sells

Rank Stock Value
1
EGN
Energen
EGN
+$595M
2
MHK icon
Mohawk Industries
MHK
+$147M
3
BAC icon
Bank of America
BAC
+$90.8M
4
ICE icon
Intercontinental Exchange
ICE
+$82.5M
5
DLTR icon
Dollar Tree
DLTR
+$74.3M

Sector Composition

Rank Sector Weight
1 Miscellaneous 60.91%
2 Energy 12.21%
3 Technology 9.52%
4 Communication Services 8.75%
5 Consumer Discretionary 8.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CPB icon
26
CALL
Campbell Soup
CPB
$6.37B
– –
-500,000
Closed -$18.3M
DLTR icon
27
Dollar Tree
DLTR
$21.2B
– –
-911,304
Closed -$74.3M
ICE icon
28
Intercontinental Exchange
ICE
$88.1B
– –
-1,102,204
Closed -$82.5M
JBLU icon
29
JetBlue
JBLU
$1.61B
– –
-3,102,898
Closed -$60.1M
LVS icon
30
PUT
Las Vegas Sands
LVS
$26.7B
– –
-593,900
Closed -$35.2M
MHK icon
31
Mohawk Industries
MHK
$8.74B
– –
-836,374
Closed -$147M
NXPI icon
32
CALL
NXP Semiconductors
NXPI
$57.1B
– –
-1,500,000
Closed -$128M
NXPI icon
33
NXP Semiconductors
NXPI
$57.1B
– –
-400,000
Closed -$34.2M
VMC icon
34
Vulcan Materials
VMC
$32.3B
– –
-357,746
Closed -$39.8M
VNO icon
35
Vornado Realty Trust
VNO
$6.45B
– –
-139,594
Closed -$10.2M
FG.WS
36
DELISTED
FGL Holdings Warrants exercisable for one Ordinary Share at a price of $11.50 per share
FG.WS
– –
-833,333
Closed -$1.64M
TSG
37
DELISTED
The Stars Group Inc.
TSG
– –
-560,320
Closed -$14M
MDCO
38
DELISTED
Medicines Co
MDCO
– –
-556,179
Closed -$16.6M
EGN
39
DELISTED
Energen
EGN
– –
-6,902,518
Closed -$595M
LCAHW
40
DELISTED
Landcadia Holdings, Inc. Warrant
LCAHW
– –
-1,225,000
Closed -$1.46M
1
2

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Corvex Management's Q4 2018 Portfolio in Review

As of Q4 2018, Corvex Management held 41 positions worth $2.69B, up 23% from $2.18B the previous quarter. Its ten largest holdings account for 91% of the portfolio.

Corvex Management withdrew a net $662M in Q4 2018, closing 17 positions and reducing 5 holdings. Its most notable exit was Energen, an estimated $595M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 61% of assets, up from 14% a quarter earlier, followed by Energy and Technology.

Against the trend, Corvex Management opened a new position in Diamondback Energy worth $327M.

  • Corvex Management's largest Q4 2018 buy was Diamondback Energy: 3,528,762 shares worth $327M.
  • Corvex Management added most to MGM Resorts International in Q4 2018, an estimated $118M increase.
  • Corvex Management's biggest Q4 2018 reduction was Meta Platforms (Facebook), cutting an estimated $42.5M.
  • Corvex Management fully exited Energen in Q4 2018, selling an estimated $595M.
  • Corvex Management's ten largest holdings make up 91% of its $2.69B portfolio in Q4 2018.
  • Corvex Management opened 11 new positions and closed 17 in Q4 2018.
  • Corvex Management's portfolio value rose 23% quarter-over-quarter to $2.69B.

Based on Corvex Management's 13F filing for Q4 2018, filed 14 Feb 2019.