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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
+12.34%
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
$2.17B
AUM Growth
+$151M
(+7.5%)
Cap. Flow
-$279M
Cap. Flow
% of AUM
-12.87%
Top 10 Holdings %
Top 10 Hldgs %
80.84%
Holding
40
New
10
Increased
4
Reduced
6
Closed
17
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
FSCT
ForeScout Technologies, Inc. Common Stock
FSCT
|
+$55.9M |
| 2 |
OPTU
Optimum Communications Inc
OPTU
|
+$44.2M |
| 3 |
MGM Resorts International
MGM
|
+$11.4M |
| 4 |
STR
Sitio Royalties
STR
|
+$11.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Diamondback Energy
FANG
|
+$116M |
| 2 |
T-Mobile US
TMUS
|
+$50.2M |
| 3 |
RTLR
Rattler Midstream LP Common Units
RTLR
|
+$36.4M |
| 4 |
Workday
WDAY
|
+$36.3M |
| 5 |
Netflix
NFLX
|
+$35.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 35.93% |
| 2 | Consumer Discretionary | 33.8% |
| 3 | Technology | 12.39% |
| 4 | Communication Services | 8.23% |
| 5 | Energy | 7.2% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
MGM Resorts International
MGM
$10.6B
| $697M | 32.13% |
20,937,696
+374,000
| +2% | +$11.4M |
|
2
PUT
Invesco QQQ Trust
QQQ
$489B
| $266M | 12.26% |
+1,250,000
| New | +$250M |
|
|
3
Diamondback Energy
FANG
$55.4B
| $143M | 6.58% |
1,537,491
-1,397,816
| -48% | -$116M |
|
4
Madison Square Garden
MSGS
$9.38B
| $119M | 5.47% |
565,319
-8,306
| -1% | -$1.63M |
|
|
FSCT
5
DELISTED
ForeScout Technologies, Inc. Common Stock
FSCT
| $110M | 5.06% |
3,344,133
+1,704,399
| +104% | +$55.9M |
|
|
ZEN
6
CALL
DELISTED
ZENDESK INC
ZEN
| $101M | 4.68% |
+1,324,500
| New | +$97M |
|
7
CALL
VanEck Semiconductor ETF
SMH
$65.6B
| $91.9M | 4.24% |
+1,300,000
| New | +$85.1M |
|
8
Adobe
ADBE
$116B
| $80.6M | 3.72% |
244,533
| – | – |
|
9
CALL
Apple
AAPL
$4.67T
| $73.4M | 3.39% |
+1,000,000
| New | +$64.3M |
|
|
ZEN
10
DELISTED
ZENDESK INC
ZEN
| $71.9M | 3.32% |
938,518
-70,000
| -7% | -$5.13M |
|
|
RTN
11
DELISTED
Raytheon Company
RTN
| $53M | 2.44% |
241,256
| – | – |
|
|
AYX
12
CALL
DELISTED
Alteryx Inc
AYX
| $50M | 2.31% |
+500,000
| New | +$50.8M |
|
13
CALL
Salesforce
CRM
$211B
| $48.8M | 2.25% |
+300,000
| New | +$47M |
|
|
OPTU
14
Optimum Communications Inc
OPTU
$389M
| $43.7M | 2.02% |
+1,600,000
| New | +$44.2M |
|
15
CALL
Alibaba
BABA
$296B
| $42.4M | 1.96% |
+200,000
| New | +$37.5M |
|
16
CALL
Caterpillar
CAT
$368B
| $36.9M | 1.7% |
+250,000
| New | +$34.9M |
|
17
Amazon
AMZN
$2.87T
| $36.4M | 1.68% |
394,000
-310,000
| -44% | -$27.4M |
|
18
CALL
Union Pacific
UNP
$183B
| $36.2M | 1.67% |
+200,000
| New | +$34.2M |
|
19
CALL
RTX Corp
RTX
$285B
| $31.9M | 1.47% |
338,139
+138,719
| +70% | +$12.6M |
|
|
20
T-Mobile US
TMUS
$195B
| $16.2M | 0.75% |
206,534
-637,700
| -76% | -$50.2M |
|
|
STR
21
DELISTED
Sitio Royalties
STR
| $13.3M | 0.62% |
472,579
+436,311
| +1,203% | +$11.1M |
|
22
Twilio
TWLO
$36.5B
| $6.36M | 0.29% |
64,732
-183,268
| -74% | -$18.7M |
|
|
STRDW
23
DELISTED
Sitio Royalties Corp. Warrant
STRDW
| $263K | 0.01% |
878,024
| – | – |
|
24
PUT
Blackstone
BX
$107B
| – | – |
-500,000
| Closed | -$24.4M |
|
25
PUT
Caesars Entertainment
CZR
$6.06B
| – | – |
-1,000,000
| Closed | -$39.9M |
|
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Corvex Management's Q4 2019 Portfolio in Review
As of Q4 2019, Corvex Management held 40 positions worth $2.17B, up 7.5% from $2.02B the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Corvex Management withdrew a net $279M in Q4 2019, closing 17 positions and reducing 6 holdings. Its most notable exit was Rattler Midstream LP Common Units, an estimated $36.4M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 36% of assets, up from 26% a quarter earlier, followed by Consumer Discretionary and Technology.
Against the trend, Corvex Management opened a new position in Optimum Communications Inc worth $43.7M.
- Corvex Management's largest Q4 2019 buy was Optimum Communications Inc: 1,600,000 shares worth $43.7M.
- Corvex Management added most to ForeScout Technologies, Inc. Common Stock in Q4 2019, an estimated $55.9M increase.
- Corvex Management's biggest Q4 2019 reduction was Diamondback Energy, cutting an estimated $116M.
- Corvex Management fully exited Rattler Midstream LP Common Units in Q4 2019, selling an estimated $36.4M.
- Corvex Management's ten largest holdings make up 81% of its $2.17B portfolio in Q4 2019.
- Corvex Management opened 10 new positions and closed 17 in Q4 2019.
- Corvex Management's portfolio value rose 7.5% quarter-over-quarter to $2.17B.
Based on Corvex Management's 13F filing for Q4 2019, filed 14 Feb 2020.