CM
Corvex Management Portfolio holdings
AUM
$3.27B
Turnover
38.71%
1-Year Est. Return
38.53%
This Fund
S&P 500
This Quarter
Est. Return
-6.61%
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
$2.02B
AUM Growth
-$629M
(-24%)
Cap. Flow
+$121M
Cap. Flow
% of AUM
5.99%
Top 10 Holdings %
Top 10 Hldgs %
78.16%
Holding
47
New
12
Increased
7
Reduced
5
Closed
16
Avg Time Held Equity + Options
0.5
years
Top 10 Avg Time Held Equity + Options
0.3
years
Top 20 Avg Time Held Equity + Options
0.3
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
0.5
years
Top 20 Avg Time Held Equity only
0.3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Madison Square Garden
MSGS
|
+$93.1M |
| 2 |
ZEN
ZENDESK INC
ZEN
|
+$83.1M |
| 3 |
RTN
Raytheon Company
RTN
|
+$44.7M |
| 4 |
FSCT
ForeScout Technologies, Inc. Common Stock
FSCT
|
+$42.2M |
| 5 |
Workday
WDAY
|
+$41.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Centene
CNC
|
+$73.1M |
| 2 |
T-Mobile US
TMUS
|
+$47.4M |
| 3 |
AYX
Alteryx Inc
AYX
|
+$35.8M |
| 4 |
Walt Disney
DIS
|
+$33M |
| 5 |
Cboe Global Markets
CBOE
|
+$24.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 31.51% |
| 2 | Miscellaneous | 25.95% |
| 3 | Technology | 14.94% |
| 4 | Energy | 13.12% |
| 5 | Communication Services | 12.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Ranpak Holdings
PACK
$292M
| $4.54M | 0.23% |
750,000
| – | – |
2019 Q2
1 quarter
|
|
27
Infosys
INFY
$46.4B
| $2.84M | 0.14% |
+250,000
| New | +$2.82M |
2019 Q3
0 quarters
|
|
28
DELISTED
FGL Holdings Ordinary Shares
FG
| $1.36M | 0.07% |
170,313
| – | – |
2017 Q2
9 quarters
|
|
29
DELISTED
Sitio Royalties
STR
| $834K | 0.04% |
36,268
-101
| -0.3% | -$2.81K |
2018 Q3
4 quarters
|
|
30
DELISTED
Sitio Royalties Corp. Warrant
STRDW
| $324K | 0.02% |
878,024
| – | – |
2018 Q3
4 quarters
|
|
31
PUT
Apple
AAPL
$5T
| – | – |
-2,600,000
| Closed | -$129M | – |
|
|
32
Cboe Global Markets
CBOE
$31.4B
| – | – |
-234,500
| Closed | -$24.3M | – |
|
33
Comcast
CMCSA
$74.6B
| – | – |
-360,613
| Closed | -$15.2M | – |
|
|
34
Centene
CNC
$34.5B
| – | – |
-1,393,194
| Closed | -$73.1M | – |
|
|
35
Walt Disney
DIS
$188B
| – | – |
-236,502
| Closed | -$33M | – |
|
36
CALL
Alphabet (Google) Class A
GOOGL
$4.25T
| – | – |
-3,000,000
| Closed | -$162M | – |
|
37
Global Payments
GPN
$21.3B
| – | – |
-36,800
| Closed | -$5.89M | – |
|
38
Meta Platforms (Facebook)
META
$1.88T
| – | – |
-18,000
| Closed | -$3.42M | – |
|
39
PUT
VanEck Semiconductor ETF
SMH
$68.9B
| – | – |
-1,660,000
| Closed | -$91.4M | – |
|
40
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$812B
| – | – |
-2,000,000
| Closed | -$586M | – |
|
41
PUT
State Street Industrial Select Sector SPDR ETF
XLI
$30.4B
| – | – |
-1,000,000
| Closed | -$77.4M | – |
|
|
AYX
42
DELISTED
Alteryx Inc
AYX
| – | – |
-328,000
| Closed | -$35.8M | – |
|
|
ASAP
43
DELISTED
Waitr Holdings Inc. Common Stock
ASAP
| – | – |
-115,179
| Closed | -$14.5M | – |
|
|
WCG
44
DELISTED
Wellcare Health Plans, Inc.
WCG
| – | – |
-50,000
| Closed | -$14.3M | – |
|
45
DELISTED
Anadarko Petroleum
APC
| – | – |
-200,000
| Closed | -$14.1M | – |
|
|
TSS
46
DELISTED
Total System Services, Inc.
TSS
| – | – |
-180,000
| Closed | -$23.1M | – |
|
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Corvex Management's Q3 2019 Portfolio in Review
As of Q3 2019, Corvex Management held 47 positions worth $2.02B, down 24% from $2.65B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Corvex Management deployed $121M of net new capital in Q3 2019, opening 12 new positions and adding to 7 existing holdings. Its largest new stake was ZENDESK INC: 1,008,518 shares worth $73.5M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 32% of assets, up from 24% a quarter earlier, followed by Miscellaneous and Technology.
On the sell side, the largest reduction was T-Mobile US, an estimated $47.4M trimmed.
- Corvex Management's largest Q3 2019 buy was ZENDESK INC: 1,008,518 shares worth $73.5M.
- Corvex Management added most to Madison Square Garden in Q3 2019, an estimated $93.1M increase.
- Corvex Management's biggest Q3 2019 reduction was T-Mobile US, cutting an estimated $47.4M.
- Corvex Management fully exited Centene in Q3 2019, selling an estimated $73.1M.
- Corvex Management's ten largest holdings make up 78% of its $2.02B portfolio in Q3 2019.
- Corvex Management opened 12 new positions and closed 16 in Q3 2019.
- Corvex Management's portfolio value fell 24% quarter-over-quarter to $2.02B.
Based on Corvex Management's 13F filing for Q3 2019, filed 14 Nov 2019.