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
+30.26%
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
$1.64B
AUM Growth
+$351M
(+27%)
Cap. Flow
+$223M
Cap. Flow
% of AUM
13.56%
Top 10 Holdings %
Top 10 Hldgs %
71.13%
Holding
41
New
13
Increased
7
Reduced
6
Closed
12
Avg Time Held Equity + Options
0.4
years
Top 10 Avg Time Held Equity + Options
0.3
years
Top 20 Avg Time Held Equity + Options
0.4
years
Avg Time Held Equity only
0.5
years
Top 10 Avg Time Held Equity only
0.5
years
Top 20 Avg Time Held Equity only
0.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
People Inc
PPLI
|
+$114M |
| 2 |
T-Mobile US
TMUS
|
+$95.9M |
| 3 |
Exelon
EXC
|
+$80.8M |
| 4 |
SPDR Gold Trust
GLD
|
+$60.2M |
| 5 |
Evergy
EVRG
|
+$37.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ZEN
ZENDESK INC
ZEN
|
+$96.7M |
| 2 |
Salesforce
CRM
|
+$54.7M |
| 3 |
RTN
Raytheon Company
RTN
|
+$46.3M |
| 4 |
Adobe
ADBE
|
+$32.7M |
| 5 |
Diamondback Energy
FANG
|
+$31.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 33.09% |
| 2 | Communication Services | 27.73% |
| 3 | Miscellaneous | 20.63% |
| 4 | Utilities | 9.21% |
| 5 | Technology | 4.42% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
MGM Resorts International
MGM
$7.29B
| $379M | 23.03% |
22,537,696
+100,000
| +0.4% | +$1.61M |
2018 Q2
8 quarters
|
|
|
2
People Inc
PPLI
$3.02B
| $148M | 9.03% |
+2,568,885
| New | +$114M |
2020 Q2
0 quarters
|
|
|
3
T-Mobile US
TMUS
$169B
| $104M | 6.34% |
+1,000,000
| New | +$95.9M |
2020 Q2
0 quarters
|
|
4
CALL
Norfolk Southern
NSC
$72.8B
| $87.8M | 5.34% |
500,000
| – | – |
2020 Q1
1 quarter
|
|
5
CALL
Alibaba
BABA
$277B
| $86.3M | 5.25% |
400,000
-750,000
| -65% | -$156M |
2019 Q4
2 quarters
|
|
|
6
SPDR Gold Trust
GLD
$139B
| $85.9M | 5.22% |
513,000
+373,000
| +266% | +$60.2M |
2020 Q1
1 quarter
|
|
|
7
Exelon
EXC
$43.9B
| $78.8M | 4.79% |
+3,042,857
| New | +$80.8M |
2020 Q2
0 quarters
|
|
8
Amazon
AMZN
$2.74T
| $71.8M | 4.37% |
520,700
-25,300
| -5% | -$3.06M |
2019 Q1
5 quarters
|
|
9
Optimum Communications Inc
OPTU
$334M
| $67M | 4.08% |
2,972,597
-77,403
| -3% | -$1.9M |
2019 Q4
2 quarters
|
|
|
10
Alibaba
BABA
$277B
| $60.4M | 3.68% |
280,100
+120,100
| +75% | +$25M |
2020 Q1
1 quarter
|
|
|
TIF
11
CALL
DELISTED
Tiffany & Co.
TIF
| $54.9M | 3.34% |
+450,000
| New | +$56.4M |
2020 Q2
0 quarters
|
|
12
Madison Square Garden
MSGS
$9.73B
| $49.4M | 3.01% |
336,409
-51,116
| -13% | -$8.44M |
2019 Q1
5 quarters
|
|
13
Netflix
NFLX
$294B
| $46M | 2.8% |
1,010,000
+560,000
| +124% | +$23.8M |
2020 Q1
1 quarter
|
|
|
14
Evergy
EVRG
$19.1B
| $37.6M | 2.29% |
+634,705
| New | +$37.6M |
2020 Q2
0 quarters
|
|
|
15
Adobe
ADBE
$93.7B
| $36.8M | 2.24% |
84,508
-88,325
| -51% | -$32.7M |
2019 Q1
5 quarters
|
|
|
ATVI
16
DELISTED
Activision Blizzard
ATVI
| $35.8M | 2.18% |
472,001
-1,000
| -0.2% | -$69.8K |
2020 Q1
1 quarter
|
|
17
Comcast
CMCSA
$74.7B
| $34.1M | 2.07% |
+875,000
| New | +$33.3M |
2020 Q2
0 quarters
|
|
18
CenterPoint Energy
CNP
$26.1B
| $29.6M | 1.8% |
1,582,754
+1,551,754
| +5,006% | +$26.7M |
2020 Q1
1 quarter
|
|
19
Humana
HUM
$51.4B
| $27.5M | 1.67% |
70,803
+48,720
| +221% | +$18.2M |
2020 Q1
1 quarter
|
|
20
JPMorgan Chase
JPM
$890B
| $24.6M | 1.5% |
+262,000
| New | +$24.9M |
2020 Q2
0 quarters
|
|
21
CALL
HCA Healthcare
HCA
$102B
| $24.3M | 1.48% |
+250,000
| New | +$26M |
2020 Q2
0 quarters
|
|
|
IAA
22
DELISTED
IAA, Inc. Common Stock
IAA
| $23.5M | 1.43% |
+609,607
| New | +$22.7M |
2020 Q2
0 quarters
|
|
23
Centene
CNC
$34.7B
| $22.8M | 1.38% |
358,000
+218,000
| +156% | +$14.2M |
2020 Q1
1 quarter
|
|
|
TIF
24
DELISTED
Tiffany & Co.
TIF
| $6.83M | 0.42% |
+56,037
| New | +$7.02M |
2020 Q2
0 quarters
|
|
25
Live Nation Entertainment
LYV
$39.3B
| $6.65M | 0.4% |
+150,000
| New | +$6.58M |
2020 Q2
0 quarters
|
|
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Corvex Management's Q2 2020 Portfolio in Review
As of Q2 2020, Corvex Management held 41 positions worth $1.64B, up 27% from $1.29B the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Corvex Management deployed $223M of net new capital in Q2 2020, opening 13 new positions and adding to 7 existing holdings. Its largest new stake was People Inc: 2,568,885 shares worth $148M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, up from 27% a quarter earlier, followed by Communication Services and Miscellaneous.
On the sell side, the largest reduction was Adobe, an estimated $32.7M trimmed.
- Corvex Management's largest Q2 2020 buy was People Inc: 2,568,885 shares worth $148M.
- Corvex Management added most to SPDR Gold Trust in Q2 2020, an estimated $60.2M increase.
- Corvex Management's biggest Q2 2020 reduction was Adobe, cutting an estimated $32.7M.
- Corvex Management fully exited ZENDESK INC in Q2 2020, selling an estimated $96.7M.
- Corvex Management's ten largest holdings make up 71% of its $1.64B portfolio in Q2 2020.
- Corvex Management opened 13 new positions and closed 12 in Q2 2020.
- Corvex Management's portfolio value rose 27% quarter-over-quarter to $1.64B.
Based on Corvex Management's 13F filing for Q2 2020, filed 14 Aug 2020.