Corvex Management L.P. 13F annual report

Corvex Management L.P. is an investment fund managing more than $1.76 trillion ran by Keith Meister. There are currently 29 companies in Mr. Meister’s portfolio. The largest investments include MGM Resorts International and Southwest Gas Inc, together worth $443 billion.

$1.76 trillion Assets Under Management (AUM)

As of 7th November 2023, Corvex Management L.P.’s top holding is 6,423,778 shares of MGM Resorts International currently worth over $236 billion and making up 13.4% of the portfolio value. Relative to the number of outstanding shares of MGM Resorts International, Corvex Management L.P. owns more than approximately 0.1% of the company. In addition, the fund holds 3,431,023 shares of Southwest Gas Inc worth $207 billion, whose value fell approximately 0.1% in the past six months. The third-largest holding is Mdu Res Group Inc worth $199 billion and the next is Knife River Corp worth $124 billion, with 2,536,755 shares owned.

Currently, Corvex Management L.P.'s portfolio is worth at least $1.76 trillion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Corvex Management L.P.

The Corvex Management L.P. office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Keith Meister serves as the Managing Partner at Corvex Management L.P..

Recent trades

In the most recent 13F filing, Corvex Management L.P. revealed that it had opened a new position in Knife River Corp and bought 2,536,755 shares worth $124 billion.

The investment fund also strengthened its position in Southwest Gas Inc by buying 3,393,253 additional shares. This makes their stake in Southwest Gas Inc total 3,431,023 shares worth $207 billion. Southwest Gas Inc dropped 7.3% in the past year.

On the other hand, there are companies that Corvex Management L.P. is getting rid of from its portfolio. Corvex Management L.P. closed its position in California Res Corp on 14th November 2023. It sold the previously owned 3,057,677 shares for $133 billion. Keith Meister also disclosed a decreased stake in MGM Resorts International by approximately 0.1%. This leaves the value of the investment at $236 billion and 6,423,778 shares.

One of the largest hedge funds

The two most similar investment funds to Corvex Management L.P. are Hawk Ridge Capital Management L.P. and Clearstead Advisors. They manage $1.76 trillion and $1.76 trillion respectively.

Keith Meister investment strategy

Corvex Management L.P.’s portfolio is diversified across 7 sectors. Currently, their heaviest sector is Consumer Discretionary — making up 17.2% of the total portfolio value. The fund focuses on investments in the United States as 58.6% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 48% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $415 billion.

The complete list of Corvex Management L.P. trades based on 13F SEC filings

These positions were updated on November 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
MGM Resorts International	3.75% 6,423,778	$236,138,079,000	13.40%
Southwest Gas Holdings Inc	8,983.99% 3,431,023	$207,268,099,000	11.76%
Mdu Res Group Inc	No change 10,147,041	$198,679,063,000	11.27%
California Res Corp	Closed 3,057,677	$133,039,526,000
Knife River Corp	Opened 2,536,755	$123,869,747,000	7.03%
AES Corp.	Closed 4,167,588	$119,859,831,000
Constellation Energy Corp	Closed 1,289,261	$111,147,191,000
Endeavor Group Hldgs Inc	Opened 4,951,105	$98,526,990,000	5.59%
Fomento Economico Mexicano S	65.17% 877,606	$95,790,695,000	5.44%
Crown Holdings, Inc.	Closed 894,861	$73,566,523,000
CSX Corp.	193.05% 2,366,268	$72,762,741,000	4.13%
Uber Technologies Inc	Opened 1,488,302	$68,447,009,000	3.88%
Amazon.com Inc.	Opened 512,629	$65,165,398,000	3.70%
IAC Inc	45.55% 1,266,517	$63,819,792,000	3.62%
Algonquin Pwr Utils Corp	Opened 10,381,899	$61,460,842,000	3.49%
Microsoft Corporation	51.87% 173,661	$54,833,461,000	3.11%
Coca-cola Europacific Partne	No change 799,325	$49,941,826,000	2.83%
Liberty Media Corp.	Opened 5,255,797	$150,006,551,000	8.51%
Adobe Inc	Opened 91,760	$46,788,424,000	2.65%
KKR & Co. Inc	Opened 749,582	$46,174,251,000	2.62%
Tko Group Holdings Inc	Opened 501,396	$42,147,348,000	2.39%
Liberty Media Corp.	Closed 1,669,474	$65,494,449,000
Coca-cola Femsa Sab De Cv	Opened 464,160	$36,408,710,000	2.07%
Alphabet Inc	66.74% 187,180	$24,494,375,000	1.39%
Genedx Holdings Corp	Opened 3,307,523	$12,039,384,000	0.68%
Skydeck Acquisition Corp	Closed 980,000	$9,858,800,000
Arya Sciences Acqu Corp Iv	Closed 400,000	$4,040,000,000
Ardagh Metal Packaging S A	137.24% 864,335	$2,705,369,000	0.15%
Sema4 Holdings Corp	Closed 9,148,140	$2,413,279,000
Activision Blizzard Inc	Closed 27,285	$2,088,667,000
Boot Barn Holdings Inc	47.45% 14,921	$1,211,436,000	0.07%
Meta Platforms Inc	Opened 2,400	$720,504,000	0.04%
Tesla Inc	Opened 2,850	$713,127,000	0.04%
NVIDIA Corp	Opened 1,625	$706,859,000	0.04%
Apple Inc	Opened 3,900	$667,719,000	0.04%
Salesforce Inc	91.52% 3,032	$614,829,000	0.03%
Eqrx Inc	No change 105,200	$233,544,000	0.01%
Somalogic Inc	No change 40,000	$95,600,000	0.01%
No transactions found
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