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CORVEX MANAGEMENT LP

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NEW YORK NY Investment Advisor Hedge Fund Activist Investor
13F Summary

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Equal-WT
WhaleScore 2.0 ?

85

S&P 500
WhaleScore ?

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Equal-WT
WhaleScore 1.0 ?

Corvex Management is based out of New York. Corvex Management is a hedge fund with 11 clients and discretionary assets under management (AUM) of $3,167,281,785 (Form ADV from 2024-10-11). Their last reported 13F filing for Q3 2024 included $2,574,235,092 in managed 13F securities and a top 10 holdings concentration of 74.81%. Corvex Management's largest holding is Southwest Gas Holdings Inc with shares held of 4,769,098. Whalewisdom has at least 55 13F filings, 113 13D filings, 14 13G filings, and 2 Form 4 filings
Business Description
Corvex's investment professionals regularly monitor and review the progress of client funds. Audited financial statements are provided annually, unaudited performance data quarterly, and monthly investor statements are also provided. Potential conflicts of interest may arise due to the firm or its personnel having investments in some clients but not others, or due to different levels of investment in various clients. Additionally, clients may pay different levels of fees to the firm. When structuring arrangements involving multiple clients, the firm ensures that no client bears two levels of management fees or performance-based compensation.
Investment Strategy
Corvex employs a fundamental, event-driven investment strategy that emphasizes value-based investing across the capital structure. The firm focuses on identifying situations with recognizable catalysts and takes an opportunistic approach to investing, with a particular emphasis on equity investments, special situations, and distressed securities. Corvex's investment process involves rigorous financial analysis of a company's underlying business fundamentals, supplemented by market expertise and event-oriented analysis. The firm utilizes a team approach to developing its own fundamental views and understanding market expectations for specific situations. Corvex also seeks to apply its fundamental, event-driven approach across a wide range of securities, including long and short equities, options, bonds, credit default swaps, bank debt, warrants, swaps, currencies, commodities, and derivative products.
Owners
  • MEISTER, KEITH, ARLYN - MANAGING PARTNER
  • MEISTER CAPITAL MANAGEMENT LLC - GENERAL PARTNER
  • DOOLEY, PATRICK, JOSEPH - GENERAL COUNSEL, CHIEF LEGAL OFFICER, & CHIEF COMPLIANCE OFFICER
  • BEMBENEK, GARRETT, THOMAS - CHIEF OPERATIONS OFFICER
  • EMES, BRIAN, EDWARD - CHIEF FINANCIAL OFFICER
  • Click on the Ownership/Private Fund Data tab for more details.
Other Contact Information
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2024-09-30

Top Buys (13F)

Name % Change
IWM iShares Russell 2000 (PUT) 5.15%
DLTR Dollar Tree Inc 3.09%
FTRE Fortrea Holdings Inc 1.73%
IAC IAC Inc 0.37%
AQN Algonquin Power & Ut 0.37%

2024-09-30

Top Sells (13F)

Name % Change
MGM MGM Resorts Internat 3.32%
ILMN Illumina Inc (CALL) 1.72%
CAE CAE Inc 0.89%
LYV Live Nation Entertai (CALL) 0.43%
LSXMA Liberty Sirius XM Gr 0.38%

2024-09-30

13F Holdings Summary

Name $ Change
SWX Southwest Gas Holdin 13.67%
ILMN Illumina Inc 11.55%
MDU MDU Resources Group 10.8%
VSTS Vestis Corp 9.84%
MGM MGM Resorts Internat 8.71%

2024-09-30

13F Activity

Market Value $2.57b, Prior: $2.16b
Inflows (Outflows) as % of Total MV +7.9227%
New Purchases 4 stocks
Added To 4 stocks
Sold out of 8 stocks
Reduced holdings in 2 stocks
Top 10 Holdings % 74.81%
Turnover %[1] 30.77%
Turnover Alt %[2] 3.56%
Time Held Top 20 5.55 quarters
Time Held Top 10 5.3 quarters
Time Held All 7.03 quarters

[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.

[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-09-30

13F Sector Allocation Over Time

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2024-09-30

Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-09-30

Portfolio Performance