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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
+6.95%
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
$2.18B
AUM Growth
+$98.2M
Cap. Flow
-$88.9M
Cap. Flow %
-4.08%
Top 10 Hldgs %
72.96%
Holding
37
New
9
Increased
3
Reduced
14
Closed
7

Top Buys

Rank Stock Value
1
MHK icon
Mohawk Industries
MHK
+$139M
2
DLTR icon
Dollar Tree
DLTR
+$80M
3
VMC icon
Vulcan Materials
VMC
+$41.5M
4
STR
Sitio Royalties
STR
+$39.4M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$22.7M

Top Sells

Rank Stock Value
1
EGN
Energen
EGN
+$61.5M
2
BAC icon
Bank of America
BAC
+$44.3M
3
TMUS icon
T-Mobile US
TMUS
+$37.5M
4
CRM icon
Salesforce
CRM
+$35.5M
5
VNO icon
Vornado Realty Trust
VNO
+$28.7M

Sector Composition

Rank Sector Weight
1 Energy 29.11%
2 Communication Services 14.61%
3 Miscellaneous 13.54%
4 Technology 13.18%
5 Consumer Discretionary 11.72%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EGN
1
DELISTED
Energen
EGN
$595M 27.28%
6,902,518
-807,956
-10% -$61.5M
MHK icon
2
Mohawk Industries
MHK
$8.74B
$147M 6.73%
836,374
+706,374
+543% +$139M
NXPI icon
3
CALL
NXP Semiconductors
NXPI
$57.1B
$128M 5.88%
1,500,000
-500,000
-25% -$48M
MSFT icon
4
Microsoft
MSFT
$3.69T
$119M 5.44%
1,036,900
-208,100
-17% -$22.6M
MGM icon
5
MGM Resorts International
MGM
$9.87B
$109M 4.99%
3,902,100
+765,300
+24% +$22.2M
META icon
6
Meta Platforms (Facebook)
META
$1.71T
$104M 4.76%
631,000
-49,000
-7% -$8.87M
TMUS icon
7
T-Mobile US
TMUS
$194B
$103M 4.73%
1,469,330
-583,535
-28% -$37.5M
NOW icon
8
ServiceNow
NOW
$147B
$98.2M 4.5%
2,510,280
-754,960
-23% -$28.6M
GOOGL icon
9
Alphabet (Google) Class A
GOOGL
$4.22T
$97.8M 4.49%
1,620,700
+375,540
+30% +$22.7M
BAC icon
10
Bank of America
BAC
$416B
$90.8M 4.16%
3,081,300
-1,455,700
-32% -$44.3M
ICE icon
11
Intercontinental Exchange
ICE
$88.1B
$82.5M 3.79%
1,102,204
-253,313
-19% -$19M
DLTR icon
12
Dollar Tree
DLTR
$21.2B
$74.3M 3.41%
+911,304
New +$80M
JBLU icon
13
JetBlue
JBLU
$1.61B
$60.1M 2.75%
3,102,898
-1,252,523
-29% -$23.7M
MGM icon
14
CALL
MGM Resorts International
MGM
$9.87B
$55.8M 2.56%
+2,000,000
New +$58M
BABA icon
15
CALL
Alibaba
BABA
$272B
$47.6M 2.18%
+288,800
New +$51.1M
STR
16
DELISTED
Sitio Royalties
STR
$39.9M 1.83%
+906,527
New +$39.4M
VMC icon
17
Vulcan Materials
VMC
$32.3B
$39.8M 1.82%
+357,746
New +$41.5M
MDB icon
18
MongoDB
MDB
$30.4B
$36.3M 1.67%
445,357
-333,417
-43% -$22.2M
LVS icon
19
PUT
Las Vegas Sands
LVS
$26.7B
$35.2M 1.62%
+593,900
New +$39.9M
NXPI icon
20
NXP Semiconductors
NXPI
$57.1B
$34.2M 1.57%
400,000
-100,000
-20% -$9.59M
CPB icon
21
CALL
Campbell Soup
CPB
$6.37B
$18.3M 0.84%
+500,000
New +$20.4M
MDCO
22
DELISTED
Medicines Co
MDCO
$16.6M 0.76%
556,179
-302,195
-35% -$11.4M
TSG
23
DELISTED
The Stars Group Inc.
TSG
$14M 0.64%
+560,320
New +$17M
ASAP
24
DELISTED
Waitr Holdings Inc. Common Stock
ASAP
$13.3M 0.61%
61,250
– –
VNO icon
25
Vornado Realty Trust
VNO
$6.45B
$10.2M 0.47%
139,594
-386,688
-73% -$28.7M
1
2

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Corvex Management's Q3 2018 Portfolio in Review

As of Q3 2018, Corvex Management held 37 positions worth $2.18B, up 4.7% from $2.08B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Corvex Management withdrew a net $88.9M in Q3 2018, closing 7 positions and reducing 14 holdings. Its most notable exit was Salesforce, an estimated $35.5M position sold in full.

By sector, the portfolio is most concentrated in Energy at 29% of assets, up from 27% a quarter earlier, followed by Communication Services and Miscellaneous.

Against the trend, Corvex Management opened a new position in Dollar Tree worth $74.3M.

  • Corvex Management's largest Q3 2018 buy was Dollar Tree: 911,304 shares worth $74.3M.
  • Corvex Management added most to Mohawk Industries in Q3 2018, an estimated $139M increase.
  • Corvex Management's biggest Q3 2018 reduction was Energen, cutting an estimated $61.5M.
  • Corvex Management fully exited Salesforce in Q3 2018, selling an estimated $35.5M.
  • Corvex Management's ten largest holdings make up 73% of its $2.18B portfolio in Q3 2018.
  • Corvex Management opened 9 new positions and closed 7 in Q3 2018.
  • Corvex Management's portfolio value rose 4.7% quarter-over-quarter to $2.18B.

Based on Corvex Management's 13F filing for Q3 2018, filed 14 Nov 2018.