CM

Corvex Management Portfolio holdings

AUM $3.27B Turnover 38.71%
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
Cap. Flow
-$279M
Cap. Flow %
-12.87%
Top 10 Hldgs %
80.84%
Holding
40
New
10
Increased
4
Reduced
6
Closed
17
Avg Time Held Equity + Options
0.5 years
Top 10 Avg Time Held Equity + Options
0.4 years
Top 20 Avg Time Held Equity + Options
0.4 years
Avg Time Held Equity only
0.8 years
Top 10 Avg Time Held Equity only
0.7 years
Top 20 Avg Time Held Equity only
0.6 years

Top Buys

Rank Stock Value
1
FSCT
ForeScout Technologies, Inc. Common Stock
FSCT
+$55.9M
2
OPTU icon
Optimum Communications Inc
OPTU
+$44.2M
3
MGM icon
MGM Resorts International
MGM
+$11.4M
4
STR icon
Sitio Royalties
STR
+$11.1M

Top Sells

Rank Stock Value
1
FANG icon
Diamondback Energy
FANG
+$116M
2
TMUS icon
T-Mobile US
TMUS
+$50.2M
3
RTLR
Rattler Midstream LP Common Units
RTLR
+$36.4M
4
WDAY icon
Workday
WDAY
+$36.3M
5
NFLX icon
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 Held Since
MGM icon
1
MGM Resorts International
MGM
$7.26B
$697M 32.13%
20,937,696
+374,000
+2% +$11.4M
2018 Q2
6 quarters
QQQ icon
2
PUT
Invesco QQQ Trust
QQQ
$486B
$266M 12.26%
+1,250,000
New +$250M
2019 Q4
0 quarters
FANG icon
3
Diamondback Energy
FANG
$55.5B
$143M 6.58%
1,537,491
-1,397,816
-48% -$116M
2018 Q4
4 quarters
MSGS icon
4
Madison Square Garden
MSGS
$9.84B
$119M 5.47%
565,319
-8,306
-1% -$1.63M
2019 Q1
3 quarters
FSCT
5
DELISTED
ForeScout Technologies, Inc. Common Stock
FSCT
$110M 5.06%
3,344,133
+1,704,399
+104% +$55.9M
2019 Q2
2 quarters
ZEN
6
CALL
DELISTED
ZENDESK INC
ZEN
$101M 4.68%
+1,324,500
New +$97M
2019 Q4
0 quarters
SMH icon
7
CALL
VanEck Semiconductor ETF
SMH
$68.8B
$91.9M 4.24%
+1,300,000
New +$85.1M
2019 Q4
0 quarters
ADBE icon
8
Adobe
ADBE
$92.6B
$80.6M 3.72%
244,533
– –
2019 Q1
3 quarters
AAPL icon
9
CALL
Apple
AAPL
$5.01T
$73.4M 3.39%
+1,000,000
New +$64.3M
2019 Q4
0 quarters
ZEN
10
DELISTED
ZENDESK INC
ZEN
$71.9M 3.32%
938,518
-70,000
-7% -$5.13M
2019 Q3
1 quarter
RTN
11
DELISTED
Raytheon Company
RTN
$53M 2.44%
241,256
– –
2019 Q3
1 quarter
AYX
12
CALL
DELISTED
Alteryx Inc
AYX
$50M 2.31%
+500,000
New +$50.8M
2019 Q4
0 quarters
CRM icon
13
CALL
Salesforce
CRM
$194B
$48.8M 2.25%
+300,000
New +$47M
2019 Q4
0 quarters
OPTU icon
14
Optimum Communications Inc
OPTU
$330M
$43.7M 2.02%
+1,600,000
New +$44.2M
2019 Q4
0 quarters
BABA icon
15
CALL
Alibaba
BABA
$275B
$42.4M 1.96%
+200,000
New +$37.5M
2019 Q4
0 quarters
CAT icon
16
CALL
Caterpillar
CAT
$343B
$36.9M 1.7%
+250,000
New +$34.9M
2019 Q4
0 quarters
AMZN icon
17
Amazon
AMZN
$2.73T
$36.4M 1.68%
394,000
-310,000
-44% -$27.4M
2019 Q1
3 quarters
UNP icon
18
CALL
Union Pacific
UNP
$169B
$36.2M 1.67%
+200,000
New +$34.2M
2019 Q4
0 quarters
RTX icon
19
CALL
RTX Corp
RTX
$251B
$31.9M 1.47%
338,139
+138,719
+70% +$12.6M
2019 Q3
1 quarter
TMUS icon
20
T-Mobile US
TMUS
$169B
$16.2M 0.75%
206,534
-637,700
-76% -$50.2M
2017 Q3
9 quarters
STR icon
21
DELISTED
Sitio Royalties
STR
$13.3M 0.62%
472,579
+436,311
+1,203% +$11.1M
2018 Q3
5 quarters
TWLO icon
22
Twilio
TWLO
$41.5B
$6.36M 0.29%
64,732
-183,268
-74% -$18.7M
2019 Q3
1 quarter
STRDW icon
23
DELISTED
Sitio Royalties Corp. Warrant
STRDW
$263K 0.01%
878,024
– –
2018 Q3
5 quarters
BX icon
24
PUT
Blackstone
BX
$79.5B
– –
-500,000
Closed -$24.4M –
CZR icon
25
PUT
Caesars Entertainment
CZR
$5.98B
– –
-1,000,000
Closed -$39.9M –
1
2

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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.