Keith Meister Is Keeping Pace With The S&P Despite Its Low Tech Exposure

The Corvex Select Equity Onshore Fund returned 7.8% net for the second quarter, while the Corvex Select Equity Offshore Fund gained 7.7%. For comparison, the S&P 500 Total Return Index returned 8.7% for the second quarter. Year to date, Corvex is up 14.3%.

Through the end of July, the Corvex Select Equity Fund is up 20.5% net year to date following a particularly strong month in July. For comparison, the S&P 500 is up 20.6% for the first seven months of 2023. Corvex's three-year and five-year net annualized rolling returns are 23.5% and 14.4%, respectively, versus the S&P's three-year and five-year annualized returns of 14.6% and 12.3%.

Q2 2023 hedge fund letters, conferences and more