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☆ Watch CNBC’s full interview with Corvex founder Keith Meister on his top stock and sector picks
▼ + stars: | 2024-06-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with Corvex founder Keith Meister on his top stock and sector picksKeith Meister, Corvex founder, joins 'Closing Bell' to discuss markets, Fed policy, the state of the consumer and the impact of mega caps on the overall market.

Persons: Keith Meister

☆ Stock market's 'powerful AI trend' will work until it doesn't work, says Corvex's Keith Meister
▼ + stars: | 2024-06-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStock market's 'powerful AI trend' will work until it doesn't work, says Corvex's Keith MeisterKeith Meister, Corvex founder, joins 'Closing Bell' to discuss markets, Fed policy, the state of the consumer and the impact of mega caps on the overall market.

Persons: Corvex's Keith Meister Keith Meister

☆ CNBC Pro Exclusive: Keith Meister's take on the future of activist investing
▼ + stars: | 2023-10-17 | by ( Alison Conklin | Brian Evans | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro Exclusive: Keith Meister sees lines blurring between private equity and activist investorsCNBC's David Faber sits down for an exclusive interview with Keith Meister, Founder and Chief Investment Officer of Corvex Management, at the 13D Monitor Active-Passive Investing Summit.

Persons: Keith Meister, CNBC's David Faber Organizations: Corvex Management, 13D

☆ How Keith Meister of Corvex sees lines blurring between private equity and activist investors
▼ + stars: | 2023-10-17 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

A change in the way activist and private equity investors are viewed is underway, Corvex Management founder Keith Meister said Tuesday. Corporate raider is a term used to refer to aggressive activist investors. "The reason it hasn't happened more quickly is because the amazing large private equity funds have been victims of their own successes," Meister said. Activist investors, which include Trian's Nelson Peltz, can agitate for a wide variety of changes including selling off underperforming or undervalued businesses or replacing management teams. Private equity investors, meanwhile, usually build a controlling stake in a company, with the aim of taking it private and making it more valuable before selling it for a profit.

Persons: Keith Meister, Meister, it's, CNBC's David Faber, Trian's Nelson Peltz Organizations: Corvex Management, CNBC Pro, 13D, Investor, Corporate, Private, Blackstone, KKR, MGM, MGM Resorts

A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. The sources declined to be identified because the information is confidential and cautioned a deal could still collapse at the last minute. Spokespeople for Catalent and Elliott declined to comment. In the past when Elliott has pushed for sales of pieces or the entire target company, including at eBay and Switch Inc., and then won board representation, significant ownership changes have followed. Novo Nordisk's weight-loss drug Wegovy is filled by Catalent’s Brussels factory and last week Reuters reported that Catalent’s plant in Bloomington, Indiana will begin filling Wegovy injection pens for Novo.

Persons: Yves Herman Acquire, Elliott, Catalent, Elliott isn't, Keith Meister's, Scott Ferguson's, Mauricio Gutierrez, Svea Herbst, Bayliss, Maggie Fick, Shri Navaratnam Organizations: REUTERS, Catalent, Elliott Investment Management, AstraZeneca, Johnson, Moderna, eBay, Inc, Deutsche Bank, Management, Capital Management, Reuters, NRG, Svea, Thomson Locations: Brussels, Belgium, U.S, Bloomington , Indiana, Novo, Boston, London

A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. Spokespeople for Catalent and Elliott declined to comment. The U.S.-based contract drugmaker is also Danish company Novo Nordisk's (NOVOb.CO) main manufacturing partner for its popular weight-loss drug Wegovy. The volatility at Catalent could increase scrutiny on the relationship between Novo and its partner. Reuters reported last week that a second Catalent factory will begin filling Wegovy injection pens for Novo as part of an expanded supply agreement.

Persons: Yves Herman Acquire, Elliott, drugmaker, Markus Manns, Catalent, Elliott isn't, Keith Meister's, Scott Ferguson's, Mauricio Gutierrez, Svea Herbst, Bayliss, Maggie Fick, Amanda Cooper, Shri Navaratnam, Bernadette Baum, Catherine Evans Organizations: REUTERS, Elliott Investment Management, Catalent, Novo, Reuters, Union Investment, AstraZeneca, Johnson, Moderna, eBay, Inc, Deutsche Bank, Management, Capital Management, NRG, Svea, Thomson Locations: Brussels, Belgium, U.S, Danish, Novo, United States, Germany, Boston, London

☆ Keith Meister's Corvex Management places new giant bet on a drugmaker, adds to a utility stake
▼ + stars: | 2023-08-15 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Keith Meister's Corvex Management placed a big new bet on drugmaker Catalent , among other moves in an active quarter for the fund manager. The fund also has a new position in Knife River , a construction materials and contracting company, leading to a $110.3 million holding. It's the seventh largest position in the fund and likely the result of a spin-off. In June, Knife River spun off from MDU Resources , which is the third largest holding in Corvex. Knife River is up more than 17% this quarter.

Persons: Keith Meister's, drugmaker, Corvex, Meister, Carl Icahn Organizations: Management, Securities and Exchange Commission, MDU Resources, Adobe Systems, Wrestling Entertainment, Southwest Gas, Constellation Energy, Algonquin Power Locations: Catalent, Somerset , New Jersey, MDU, Arizona , California, Nevada

☆ Hedge funds beefed up A.I. bets in the second quarter
▼ + stars: | 2023-08-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

2023 has been the year for artificial intelligence stocks, and hedge funds in the second quarter beefed up their bets on the growth sector despite its sharp run up this year. Doubling down on Big Tech Despite the uptick in tech shares by the end of the first half, many hedge funds amped up their bets on Alphabet during the second quarter. David Tepper's Appaloosa bet big on AI winners , growing positions in Alphabet, Amazon , Meta Platforms and Microsoft during the period. Betting on chip stocks Nvidia shares have popped 200% as the company triumphs as AI chipmaker to beat this year. Beyond these pure-play AI bets, Coleman added to semiconductor Lam Research .

Persons: Bill Ackman's, Dan Loeb's, David Tepper's, Baupost's Seth Klarman, Philippe Laffont's Coatue, Tiger Global's Chase Coleman, Mark Zuckerberg's, Dan Sundheim's, Ole Andreas Halvorsen, Loeb, Coleman, Sundheim, Baupost, Keith Meister's, Laffont, Yun Li, Sarah Min, Brian Evans Organizations: Big Tech, Microsoft, Tiger Cub, Management, Apple, Amazon, Facebook, Meta, Nvidia, Devices, Viking, Taiwan Semiconductor, Micron Technology, AMD, Intel, Qualcomm, Broadcom, Marvell Technology, Materials, Global, Lam Research, Netflix, Viking Global, NXP Semiconductors, Semiconductor Locations: Apple, Amazon

☆ Catalent, facing pressure from Elliott, had other activists in stock
▼ + stars: | 2023-08-14 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

A general view of the drug product manufacturing laboratory in biologics and sterile injectables, Catalent, in Brussels, Belgium June 27, 2023. Keith Meister's Corvex Management and Scott Ferguson's Sachem Head Capital Management each disclosed buying Catalent stock in the second quarter and owning it on June 30. Corvex initiated a new position in Catalent, buying 5.7 million shares during the second quarter, while Sachem Head purchased 662,000 shares during the quarter, also a new position for the fund. While Elliott is among the world's most prominent and busiest activist investors, both Corvex and Sachem Head have in the past targeted other companies and successfully lobbied for board seats. Representatives for Corvex and Sachem Head declined to comment beyond the filings.

Persons: Yves Herman, Keith Meister's, Scott Ferguson's, Corvex, Elliott, Catalent, Svea Herbst, Bayliss, Sonali Paul Organizations: REUTERS, Elliott Investment Management, Management, Capital Management, Sachem, Corvex, AstraZeneca, Johnson, Moderna, Svea, Thomson Locations: Brussels, Belgium, Catalent, Europe, United States

☆ Hedge funds piled into these A.I. stocks during the first quarter
▼ + stars: | 2023-05-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Securities filings released this week signaled that many hedge funds also appear to be catching the AI bug. Betting on AI heavyweights Alphabet popped up as one of the most common AI plays among big investors in the first quarter. Microsoft bet billions on AI capabilities, funneling another multibillion-dollar investment in January into ChatGPT maker OpenAI. Beyond Alphabet and Microsoft Outside heavyweight giants Alphabet and Microsoft, many hedge funds beefed up other AI-related holdings in the first quarter. His Nvidia bet equaled roughly $1.4 billion at the end of March.

☆ Keith Meister’s Corvex Management bets on Amazon, slashes other big tech holdings
▼ + stars: | 2023-05-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Keith Meister's Corvex Management scooped up shares of Amazon during the first quarter, while slashing its stakes in technology giants Alphabet and Microsoft . Meister also bought shares of Endeavor Group , a position worth $44.9 million at the end of the first quarter. Other new bets from Corvex included a $22.7 million position in Uber Technologies and a stake in Algonquin Power . Prior to launching Corvex, Meister worked closely with legendary activist investor Carl Icahn. At the end of the first quarter, Corvex managed about $2.9 billion in regulatory assets, according to securities filings.

☆ Watch CNBC's full interview with Corvex Management's Keith Meister
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Corvex Management's Keith MeisterKeith Meister, founder and chief investment officer at Corvex Management, joins ‘Closing Bell’ to discuss the broad market selloff, why he thinks this year will be a choppy year for equities and more.

☆ People can create value by being stock-pickers this year, says Corvex Management's Keith Meister
▼ + stars: | 2023-02-21 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPeople can create value by being stock-pickers this year, says Corvex Management's Keith MeisterKeith Meister, founder and chief investment officer at Corvex Management, joins ‘Closing Bell’ on the broad market selloff, why Uber is a good bet in a rising rate environment and more.

☆ Corvex's Keith Meister says 2023 will be a choppy year, upside in Big Tech is capped
▼ + stars: | 2023-02-21 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Corvex Management's Keith Meister said 2023 will be a tricky year for stock investors on the back of the Federal Reserve's rate-hiking campaign. "It'll be a choppy year, if you think about the risk premium for equities," Meister said on CNBC's " Closing Bell " Tuesday. His hedge fund cut exposure in Big Tech names Amazon , Microsoft and Alphabet last quarter as Meister thinks the upside for these names would be limited. He revealed that a better way to own that exposure to Big Tech was by selling, long-dated puts amid elevated volatility in the markets. Put options give holders the right to sell a specified amount of an underlying security at a specified price within a specified time frame.

☆ Keith Meister's Corvex Management bets on media companies, cuts big tech and biotech holdings
▼ + stars: | 2023-02-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Corvex Management increased its stakes in media-related companies while slashing technology and biotech investments, according to its latest quarterly 13F filing with the SEC. Crown Holdings was Meister's second-largest acquisition in the fourth quarter, when Corvex bought $74 million of shares. In November, billionaire Carl Icahn disclosed an 8.5% stake in the packaging company once known as Crown Cork & Seal. Corvex in the fourth quarter increased its position in Fomento Economico Mexicano , a Mexican multi-national retail and beverage company, by 9.5%, bringing the holding to almost $200 million. Corvex exited its positions in Amazon , JP Morgan Chase & Co . and Uber in the fourth quarter.

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