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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
-6.61%
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
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 | |
|---|---|---|---|---|---|---|
1
MGM Resorts International
MGM
$10.6B
| $570M | 28.25% |
20,563,696
| – | – |
|
2
Diamondback Energy
FANG
$55.4B
| $264M | 13.08% |
2,935,307
| – | – |
|
3
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$825B
| $237M | 11.77% |
+800,000
| New | +$236M |
|
|
4
Madison Square Garden
MSGS
$9.38B
| $108M | 5.34% |
573,625
+474,728
| +480% | +$93.1M |
|
|
ZEN
5
DELISTED
ZENDESK INC
ZEN
| $73.5M | 3.64% |
+1,008,518
| New | +$83.1M |
|
6
Adobe
ADBE
$116B
| $67.6M | 3.35% |
244,533
+70,126
| +40% | +$20.5M |
|
7
CALL
Netflix
NFLX
$340B
| $66.9M | 3.32% |
+2,500,000
| New | +$78.2M |
|
|
8
T-Mobile US
TMUS
$195B
| $66.5M | 3.3% |
844,234
-605,000
| -42% | -$47.4M |
|
|
FSCT
9
DELISTED
ForeScout Technologies, Inc. Common Stock
FSCT
| $62.2M | 3.08% |
1,639,734
+1,154,034
| +238% | +$42.2M |
|
10
Amazon
AMZN
$2.87T
| $61.1M | 3.03% |
704,000
+190,000
| +37% | +$17.6M |
|
11
CALL
Marathon Petroleum
MPC
$104B
| $57.7M | 2.86% |
950,000
+450,000
| +90% | +$23.7M |
|
|
RTN
12
DELISTED
Raytheon Company
RTN
| $47.3M | 2.35% |
+241,256
| New | +$44.7M |
|
13
PUT
Caesars Entertainment
CZR
$6.06B
| $39.9M | 1.98% |
+1,000,000
| New | +$42.4M |
|
|
RTLR
14
DELISTED
Rattler Midstream LP Common Units
RTLR
| $36.4M | 1.8% |
2,043,316
-56,684
| -3% | -$1.05M |
|
|
15
Workday
WDAY
$49.3B
| $36.3M | 1.8% |
+213,700
| New | +$41.3M |
|
|
16
Netflix
NFLX
$340B
| $35.1M | 1.74% |
1,310,000
-90,000
| -6% | -$2.82M |
|
17
Alphabet (Google) Class A
GOOGL
$4.24T
| $34.2M | 1.69% |
+560,000
| New | +$33.2M |
|
18
Twilio
TWLO
$36.5B
| $27.3M | 1.35% |
+248,000
| New | +$32.2M |
|
19
PUT
Blackstone
BX
$107B
| $24.4M | 1.21% |
+500,000
| New | +$24.4M |
|
20
ServiceNow
NOW
$150B
| $20.1M | 0.99% |
+395,000
| New | +$21.5M |
|
21
CALL
RTX Corp
RTX
$285B
| $17.1M | 0.85% |
+199,420
| New | +$16.6M |
|
22
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.78B
| $13.2M | 0.65% |
147,500
+50,000
| +51% | +$4.71M |
|
|
S
23
PUT
DELISTED
Sprint Corporation
S
| $12.3M | 0.61% |
2,000,000
-1,000,000
| -33% | -$6.88M |
|
|
WORK
24
DELISTED
Slack Technologies, Inc.
WORK
| $11.7M | 0.58% |
493,639
+93,639
| +23% | +$2.84M |
|
25
CALL
Meta Platforms (Facebook)
META
$1.47T
| $10.2M | 0.5% |
57,000
| – | – |
|
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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.