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Overview of Corvex Management in 4Q14

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Corvex Management in 4Q14

Corvex Management has over $5 billion in assets under management. It focuses on “investing in high quality, US businesses under-going change in industries with positive secular tailwinds.” This series will discuss the fund’s notable exits during the fourth quarter that ended in December 2014.

The fund’s US long portfolio fell to $8.15 billion from $8.29 billion in the third quarter.

Keith Meister leads Corvex as the managing partner and chief investment officer. Before founding Corvex, Meister worked in various positions including a period serving as CEO and vice chairman of Icahn Enterprises. Before that, he was the director of numerous companies including Icahn Enterprises, Motorola Mobility, Motorola, XO Holdings, Federal Mogul, American Railcar, ADT, and Ralcorp.

For more on this topic, read Corvex Management’s New Holdings in 4Q14.

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Notable exits

The fund exited positions in Anadarko Petroleum (APC), ConAgra Foods (CAG), Applied Materials (AMAT), EMC (EMC), and Humana (HUM).

Applied Materials and EMC are each part of the iShares U.S. Technology ETF (IYW) with 0.78% and 1.46% exposures, respectively. This ETF offers exposure to technology stocks, especially blue-chip technology companies.

The next part of this series will review Corvex’s exit from Anadarko Petroleum.

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