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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
+9.12%
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
$1.43B
AUM Growth
-$1.26B
(-47%)
Cap. Flow
-$1.36B
Cap. Flow
% of AUM
-95.11%
Top 10 Holdings %
Top 10 Hldgs %
91.04%
Holding
35
New
11
Increased
2
Reduced
5
Closed
12
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
MGM Resorts International
MGM
|
+$199M |
| 2 |
Adobe
ADBE
|
+$68M |
| 3 |
Walt Disney
DIS
|
+$47.3M |
| 4 |
Amazon
AMZN
|
+$44.1M |
| 5 |
Take-Two Interactive
TTWO
|
+$42.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ServiceNow
NOW
|
+$113M |
| 2 |
Diamondback Energy
FANG
|
+$89.9M |
| 3 |
Microsoft
MSFT
|
+$69.2M |
| 4 |
ZEN
ZENDESK INC
ZEN
|
+$60.7M |
| 5 |
Meta Platforms (Facebook)
META
|
+$46.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 31.38% |
| 2 | Communication Services | 21.35% |
| 3 | Energy | 18.87% |
| 4 | Technology | 8.22% |
| 5 | Financials | 1.65% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
MGM Resorts International
MGM
$11.7B
| $403M | 28.09% |
15,692,772
+7,264,090
| +86% | +$199M |
|
|
2
Diamondback Energy
FANG
$56.2B
| $269M | 18.78% |
2,651,522
-877,240
| -25% | -$89.9M |
|
3
CALL
Invesco QQQ Trust
QQQ
$450B
| $216M | 15.04% |
+1,200,000
| New | +$204M |
|
4
T-Mobile US
TMUS
$186B
| $123M | 8.58% |
1,780,430
-173,200
| -9% | -$12.1M |
|
|
5
Adobe
ADBE
$98.5B
| $71.9M | 5.02% |
+269,907
| New | +$68M |
|
6
Alphabet (Google) Class A
GOOGL
$4.08T
| $50.2M | 3.5% |
852,700
-424,000
| -33% | -$23.9M |
|
|
7
Amazon
AMZN
$2.53T
| $47.2M | 3.29% |
+530,000
| New | +$44.1M |
|
|
8
Walt Disney
DIS
$167B
| $47M | 3.28% |
+423,100
| New | +$47.3M |
|
|
9
Take-Two Interactive
TTWO
$46.3B
| $40.9M | 2.86% |
+433,780
| New | +$42.1M |
|
10
Guidewire Software
GWRE
$12.8B
| $37.5M | 2.62% |
+386,000
| New | +$34.5M |
|
11
Cboe Global Markets
CBOE
$31B
| $22.4M | 1.56% |
+234,500
| New | +$22.2M |
|
12
Comcast
CMCSA
$84B
| $19.8M | 1.38% |
+495,800
| New | +$18.7M |
|
|
ASAP
13
DELISTED
Waitr Holdings Inc. Common Stock
ASAP
| $17.8M | 1.24% |
72,275
+11,025
| +18% | +$2.64M |
|
14
Madison Square Garden
MSGS
$9.75B
| $17.1M | 1.19% |
+81,877
| New | +$16.6M |
|
|
ZAYO
15
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $14.5M | 1.01% |
+511,100
| New | +$13.6M |
|
|
16
CALL
Meta Platforms (Facebook)
META
$1.37T
| $9.5M | 0.66% |
57,000
| – | – |
|
|
ZEN
17
DELISTED
ZENDESK INC
ZEN
| $8.49M | 0.59% |
99,848
-826,400
| -89% | -$60.7M |
|
|
18
Meta Platforms (Facebook)
META
$1.37T
| $8M | 0.56% |
48,000
-289,652
| -86% | -$46.1M |
|
|
CELG
19
DELISTED
Celgene Corp
CELG
| $2.58M | 0.18% |
+27,404
| New | +$2.4M |
|
|
FG
20
DELISTED
FGL Holdings Ordinary Shares
FG
| $1.34M | 0.09% |
170,313
| – | – |
|
|
STR
21
DELISTED
Sitio Royalties
STR
| $1.29M | 0.09% |
36,369
| – | – |
|
|
STRDW
22
DELISTED
Sitio Royalties Corp. Warrant
STRDW
| $720K | 0.05% |
878,024
| – | – |
|
|
23
CALL
Diamondback Energy
FANG
$56.2B
| – | – |
-165,000
| Closed | -$15.3M |
|
24
PUT
iShares Russell 2000 ETF
IWM
$80.2B
| – | – |
-1,000,000
| Closed | -$134M |
|
25
MongoDB
MDB
$26.2B
| – | – |
-232,657
| Closed | -$19.5M |
|
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Corvex Management's Q1 2019 Portfolio in Review
As of Q1 2019, Corvex Management held 35 positions worth $1.43B, down 47% from $2.69B the previous quarter. Its ten largest holdings account for 91% of the portfolio.
Corvex Management withdrew a net $1.36B in Q1 2019, closing 12 positions and reducing 5 holdings. Its most notable exit was ServiceNow, an estimated $113M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 31% of assets, up from 8.1% a quarter earlier, followed by Communication Services and Energy.
Against the trend, Corvex Management opened a new position in Adobe worth $71.9M.
- Corvex Management's largest Q1 2019 buy was Adobe: 269,907 shares worth $71.9M.
- Corvex Management added most to MGM Resorts International in Q1 2019, an estimated $199M increase.
- Corvex Management's biggest Q1 2019 reduction was Diamondback Energy, cutting an estimated $89.9M.
- Corvex Management fully exited ServiceNow in Q1 2019, selling an estimated $113M.
- Corvex Management's ten largest holdings make up 91% of its $1.43B portfolio in Q1 2019.
- Corvex Management opened 11 new positions and closed 12 in Q1 2019.
- Corvex Management's portfolio value fell 47% quarter-over-quarter to $1.43B.
Based on Corvex Management's 13F filing for Q1 2019, filed 15 May 2019.