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Corvex Management Portfolio holdings

AUM $2.52B
1-Year Est. Return 25.53%
This Fund
S&P 500
This Quarter Est. Return
+8.85%
1 Year Est. Return
+25.53%
3 Year Est. Return
+64.15%
5 Year Est. Return
+76.52%
10 Year Est. Return
+305.53%
AUM
$2.65B
AUM Growth
+$1.21B
Cap. Flow
+$1.1B
Cap. Flow %
41.44%
Top 10 Hldgs %
82.58%
Holding
42
New
19
Increased
4
Reduced
6
Closed
7

Top Buys

Rank Stock Value
1
MGM icon
MGM Resorts International
MGM
+$130M
2
CNC icon
Centene
CNC
+$75.2M
3
NFLX icon
Netflix
NFLX
+$50.5M
4
RTLR
Rattler Midstream LP Common Units
RTLR
+$40.2M
5
AYX
Alteryx Inc
AYX
+$29.9M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$49.4M
2
TTWO icon
Take-Two Interactive
TTWO
+$40.9M
3
GWRE icon
Guidewire Software
GWRE
+$37.5M
4
ADBE icon
Adobe
ADBE
+$26.5M
5
DIS icon
Walt Disney
DIS
+$24.7M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 24.29%
2 Energy 12.13%
3 Communication Services 8.71%
4 Technology 4.48%
5 Healthcare 2.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APC
26
DELISTED
Anadarko Petroleum
APC
$14.1M 0.53%
+200,000
New +$13.4M
META icon
27
CALL
Meta Platforms (Facebook)
META
$1.37T
$11M 0.42%
57,000
– –
XOP icon
28
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.59B
$10.6M 0.4%
+97,500
New +$11.3M
PACK icon
29
Ranpak Holdings
PACK
$442M
$6.64M 0.25%
+750,000
New +$7.47M
GPN icon
30
Global Payments
GPN
$23.8B
$5.89M 0.22%
+36,800
New +$5.47M
META icon
31
Meta Platforms (Facebook)
META
$1.37T
$3.47M 0.13%
18,000
-30,000
-63% -$5.48M
FG
32
DELISTED
FGL Holdings Ordinary Shares
FG
$1.43M 0.05%
170,313
– –
STR
33
DELISTED
Sitio Royalties
STR
$1.22M 0.05%
36,369
– –
STRDW
34
DELISTED
Sitio Royalties Corp. Warrant
STRDW
$834K 0.03%
878,024
– –
GOOGL icon
35
Alphabet (Google) Class A
GOOGL
$4.08T
– –
-852,700
Closed -$49.4M
GWRE icon
36
Guidewire Software
GWRE
$12.8B
– –
-386,000
Closed -$37.5M
QQQ icon
37
CALL
Invesco QQQ Trust
QQQ
$450B
– –
-1,200,000
Closed -$216M
TTWO icon
38
Take-Two Interactive
TTWO
$46.3B
– –
-433,780
Closed -$40.9M
ZEN
39
DELISTED
ZENDESK INC
ZEN
– –
-99,848
Closed -$8.49M
ZAYO
40
DELISTED
Zayo Group Holdings, Inc.
ZAYO
– –
-511,100
Closed -$14.5M
CELG
41
DELISTED
Celgene Corp
CELG
– –
-27,404
Closed -$2.58M
1
2

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Corvex Management's Q2 2019 Portfolio in Review

As of Q2 2019, Corvex Management held 42 positions worth $2.65B, up 85% from $1.43B the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Corvex Management deployed $1.1B of net new capital in Q2 2019, opening 19 new positions and adding to 4 existing holdings. Its largest new stake was Centene: 1,393,194 shares worth $73.1M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 24% of assets, down from 31% a quarter earlier, followed by Energy and Communication Services.

On the sell side, the largest reduction was Adobe, an estimated $26.5M trimmed.

  • Corvex Management's largest Q2 2019 buy was Centene: 1,393,194 shares worth $73.1M.
  • Corvex Management added most to MGM Resorts International in Q2 2019, an estimated $130M increase.
  • Corvex Management's biggest Q2 2019 reduction was Adobe, cutting an estimated $26.5M.
  • Corvex Management fully exited Alphabet (Google) Class A in Q2 2019, selling an estimated $49.4M.
  • Corvex Management's ten largest holdings make up 83% of its $2.65B portfolio in Q2 2019.
  • Corvex Management opened 19 new positions and closed 7 in Q2 2019.
  • Corvex Management's portfolio value rose 85% quarter-over-quarter to $2.65B.

Based on Corvex Management's 13F filing for Q2 2019, filed 14 Aug 2019.