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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
(+23%)
Cap. Flow
-$662M
Cap. Flow
% of AUM
-24.62%
Top 10 Holdings %
Top 10 Hldgs %
90.54%
Holding
41
New
11
Increased
3
Reduced
5
Closed
17
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Diamondback Energy
FANG
|
+$394M |
| 2 |
MGM Resorts International
MGM
|
+$118M |
| 3 |
ZEN
ZENDESK INC
ZEN
|
+$53.3M |
| 4 |
T-Mobile US
TMUS
|
+$32.5M |
| 5 |
ServiceNow
NOW
|
+$23.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
EGN
Energen
EGN
|
+$595M |
| 2 |
Mohawk Industries
MHK
|
+$147M |
| 3 |
Bank of America
BAC
|
+$90.8M |
| 4 |
Intercontinental Exchange
ICE
|
+$82.5M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$799B
| $1,000M | 37.18% |
+4,000,000
| New | +$1.08B |
|
|
2
Diamondback Energy
FANG
$59.2B
| $327M | 12.17% |
+3,528,762
| New | +$394M |
|
3
PUT
Invesco QQQ Trust
QQQ
$474B
| $309M | 11.47% |
+2,000,000
| New | +$334M |
|
|
4
MGM Resorts International
MGM
$9.87B
| $204M | 7.6% |
8,428,682
+4,526,582
| +116% | +$118M |
|
5
PUT
iShares Russell 2000 ETF
IWM
$76.9B
| $134M | 4.98% |
+1,000,000
| New | +$149M |
|
|
6
T-Mobile US
TMUS
$194B
| $124M | 4.62% |
1,953,630
+484,300
| +33% | +$32.5M |
|
|
7
ServiceNow
NOW
$147B
| $113M | 4.22% |
3,183,660
+673,380
| +27% | +$23.9M |
|
8
PUT
VanEck Semiconductor ETF
SMH
$67.1B
| $87.3M | 3.25% |
+2,000,000
| New | +$93.9M |
|
9
Microsoft
MSFT
$3.69T
| $69.2M | 2.57% |
680,900
-356,000
| -34% | -$38.1M |
|
10
Alphabet (Google) Class A
GOOGL
$4.22T
| $66.7M | 2.48% |
1,276,700
-344,000
| -21% | -$18.6M |
|
|
ZEN
11
DELISTED
ZENDESK INC
ZEN
| $54.1M | 2.01% |
+926,248
| New | +$53.3M |
|
|
12
CALL
MGM Resorts International
MGM
$9.87B
| $48.5M | 1.8% |
2,000,000
| – | – |
|
13
Meta Platforms (Facebook)
META
$1.71T
| $44.3M | 1.65% |
337,652
-293,348
| -46% | -$42.5M |
|
|
14
Invesco QQQ Trust
QQQ
$474B
| $20.8M | 0.77% |
+134,800
| New | +$22.5M |
|
15
MongoDB
MDB
$30.4B
| $19.5M | 0.72% |
232,657
-212,700
| -48% | -$16.4M |
|
|
16
CALL
Diamondback Energy
FANG
$59.2B
| $15.3M | 0.57% |
+165,000
| New | +$18.4M |
|
|
ASAP
17
DELISTED
Waitr Holdings Inc. Common Stock
ASAP
| $13.7M | 0.51% |
61,250
| – | – |
|
|
GRA
18
DELISTED
W.R. Grace & Co.
GRA
| $12.2M | 0.46% |
+188,600
| New | +$12.2M |
|
19
CALL
Netflix
NFLX
$324B
| $11.3M | 0.42% |
+422,000
| New | +$12.6M |
|
|
20
CALL
Meta Platforms (Facebook)
META
$1.71T
| $7.47M | 0.28% |
+57,000
| New | +$8.26M |
|
|
STR
21
DELISTED
Sitio Royalties
STR
| $1.24M | 0.05% |
36,369
-870,158
| -96% | -$31M |
|
|
FG
22
DELISTED
FGL Holdings Ordinary Shares
FG
| $1.13M | 0.04% |
170,313
| – | – |
|
|
STRDW
23
DELISTED
Sitio Royalties Corp. Warrant
STRDW
| $527K | 0.02% |
878,024
| – | – |
|
24
CALL
Alibaba
BABA
$272B
| – | – |
-288,800
| Closed | -$47.6M |
|
|
25
Bank of America
BAC
$416B
| – | – |
-3,081,300
| Closed | -$90.8M |
|
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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.