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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
-31.25%
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
$1.29B
AUM Growth
-$876M
(-40%)
Cap. Flow
-$134M
Cap. Flow
% of AUM
-10.4%
Top 10 Holdings %
Top 10 Hldgs %
76.98%
Holding
39
New
16
Increased
6
Reduced
3
Closed
11
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Salesforce
CRM
|
+$65.2M |
| 2 |
ZEN
ZENDESK INC
ZEN
|
+$44.7M |
| 3 |
Marathon Petroleum
MPC
|
+$40.9M |
| 4 |
MGM Resorts International
MGM
|
+$38.6M |
| 5 |
OPTU
Optimum Communications Inc
OPTU
|
+$37.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FSCT
ForeScout Technologies, Inc. Common Stock
FSCT
|
+$110M |
| 2 |
Madison Square Garden
MSGS
|
+$34.5M |
| 3 |
Adobe
ADBE
|
+$24.5M |
| 4 |
Diamondback Energy
FANG
|
+$22M |
| 5 |
T-Mobile US
TMUS
|
+$16.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 27.01% |
| 2 | Technology | 18.15% |
| 3 | Communication Services | 12.22% |
| 4 | Industrials | 5.74% |
| 5 | Energy | 4.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
MGM Resorts International
MGM
$11.7B
| $265M | 20.48% |
22,437,696
+1,500,000
| +7% | +$38.6M |
|
2
CALL
Alibaba
BABA
$279B
| $224M | 17.3% |
1,150,000
+950,000
| +475% | +$198M |
|
|
ZEN
3
DELISTED
ZENDESK INC
ZEN
| $96.7M | 7.48% |
1,511,404
+572,886
| +61% | +$44.7M |
|
4
CALL
Norfolk Southern
NSC
$75B
| $73M | 5.65% |
+500,000
| New | +$92.3M |
|
|
OPTU
5
Optimum Communications Inc
OPTU
$290M
| $68M | 5.26% |
3,050,000
+1,450,000
| +91% | +$37.9M |
|
|
6
Madison Square Garden
MSGS
$9.75B
| $58.4M | 4.52% |
387,525
-177,794
| -31% | -$34.5M |
|
|
7
Adobe
ADBE
$98.5B
| $55M | 4.25% |
172,833
-71,700
| -29% | -$24.5M |
|
|
8
Salesforce
CRM
$148B
| $54.7M | 4.23% |
+380,000
| New | +$65.2M |
|
9
Amazon
AMZN
$2.53T
| $53.2M | 4.12% |
546,000
+152,000
| +39% | +$14.7M |
|
|
AYX
10
CALL
DELISTED
Alteryx Inc
AYX
| $47.6M | 3.68% |
500,000
| – | – |
|
|
RTN
11
DELISTED
Raytheon Company
RTN
| $46.3M | 3.58% |
353,256
+112,000
| +46% | +$22.2M |
|
|
12
Diamondback Energy
FANG
$56.2B
| $31.1M | 2.41% |
1,188,628
-348,863
| -23% | -$22M |
|
|
13
Alibaba
BABA
$279B
| $31.1M | 2.41% |
+160,000
| New | +$33.4M |
|
|
ATVI
14
DELISTED
Activision Blizzard
ATVI
| $28.1M | 2.18% |
+473,001
| New | +$28.1M |
|
15
Union Pacific
UNP
$172B
| $27.9M | 2.16% |
+198,000
| New | +$32.7M |
|
16
Vulcan Materials
VMC
$35.1B
| $21.8M | 1.69% |
+201,690
| New | +$25.8M |
|
|
17
Marathon Petroleum
MPC
$91.7B
| $20.9M | 1.62% |
+886,600
| New | +$40.9M |
|
18
SPDR Gold Trust
GLD
$133B
| $20.7M | 1.6% |
+140,000
| New | +$20.8M |
|
19
Netflix
NFLX
$305B
| $16.9M | 1.31% |
+450,000
| New | +$15.9M |
|
20
Match Group
MTCH
$9.17B
| $14.7M | 1.14% |
+222,700
| New | +$16.4M |
|
21
Centene
CNC
$30.1B
| $8.32M | 0.64% |
+140,000
| New | +$8.49M |
|
22
UnitedHealth
UNH
$383B
| $8M | 0.62% |
+32,073
| New | +$8.83M |
|
23
Humana
HUM
$44B
| $6.93M | 0.54% |
+22,083
| New | +$7.45M |
|
24
Elevance Health
ELV
$81.6B
| $5.68M | 0.44% |
+25,000
| New | +$6.81M |
|
25
State Street SPDR S&P 500 ETF Trust
SPY
$784B
| $4.28M | 0.33% |
+16,622
| New | +$5.07M |
|
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Corvex Management's Q1 2020 Portfolio in Review
As of Q1 2020, Corvex Management held 39 positions worth $1.29B, down 40% from $2.17B the previous quarter. Its ten largest holdings account for 77% of the portfolio.
Corvex Management withdrew a net $134M in Q1 2020, closing 11 positions and reducing 3 holdings. Its most notable exit was ForeScout Technologies, Inc. Common Stock, an estimated $110M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 27% of assets, down from 34% a quarter earlier, followed by Technology and Communication Services.
Against the trend, Corvex Management opened a new position in Salesforce worth $54.7M.
- Corvex Management's largest Q1 2020 buy was Salesforce: 380,000 shares worth $54.7M.
- Corvex Management added most to ZENDESK INC in Q1 2020, an estimated $44.7M increase.
- Corvex Management's biggest Q1 2020 reduction was Madison Square Garden, cutting an estimated $34.5M.
- Corvex Management fully exited ForeScout Technologies, Inc. Common Stock in Q1 2020, selling an estimated $110M.
- Corvex Management's ten largest holdings make up 77% of its $1.29B portfolio in Q1 2020.
- Corvex Management opened 16 new positions and closed 11 in Q1 2020.
- Corvex Management's portfolio value fell 40% quarter-over-quarter to $1.29B.
Based on Corvex Management's 13F filing for Q1 2020, filed 15 May 2020.