Corvex Management's Q2 Moves: Oracle, Amazon, and TSM

Corvex Management, led by Keith Meister, has taken a new position in Oracle and increased its stake in Amazon in Q2. The firm exited its position in Taiwan Semiconductor Manufacturing Company. The moves were disclosed in Corvex Management's latest 13F filing.

In its latest 13F filing, activist investor Keith Meister's Corvex Management revealed significant changes to its portfolio during the second quarter. The firm took a new position in Oracle (NYSE:ORCL) and increased its stake in Amazon (NASDAQ:AMZN), while exiting its position in Taiwan Semiconductor Manufacturing Company (NYSE:TSM) [1].

Corvex Management disclosed that it purchased 99,500 shares in Oracle and boosted its Amazon holdings to 675,029 shares from 565,029 shares. The hedge fund also increased its stakes in other companies, including Southwest Gas Holdings (SWX), Vestis (VSTS), GeneDx Holdings (WGS), and Algonquin Power & Utilities (AQN). Notably, Corvex now holds 18.8 million shares in Vestis, compared to 17.01 million shares earlier.

Additionally, Corvex decreased its stake in Dollar Tree (DLTR) to 0.98 million shares from 3.21 million shares and in Alphabet's class A capital stock (GOOGL) to 225,709 shares from 643,209 shares. The fund maintained positions in companies such as Microsoft (MSFT), MGM Resorts International (MGM), Illumina (ILMN), and CSX (CSX).

These moves indicate Corvex's strategy of diversifying its portfolio and focusing on companies with strong growth prospects. The hedge fund's actions will be closely watched by investors for potential insights into the market's direction and opportunities.

References:
[1] https://seekingalpha.com/news/4485717-corvex-management-starts-new-position-in-oracle-piled-up-on-amazon-in-q2-moves