Corvex Management’s Yum! Brands YUM Stock Holding History

Corvex Management’s Portfolio YUM Stock Details YUM Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2017 Q2	–	Sell	-7,950,654	Closed	-$508M	–	44
2017 Q1	$508M	Sell	7,950,654 -13,089,541	-62%	-$852M	14.09%	1
2016 Q4	$1.33B	Sell	21,040,195 -8,226,716	-28%	-$517M	22.78%	1
2016 Q3	$1.91B	Hold	29,266,911	–	–	35.79%	1
2016 Q2	$1.74B	Hold	29,266,911	–	–	23.24%	1
2016 Q1	$1.72B	Hold	29,266,911	–	–	28.44%	1
2015 Q4	$1.54B	Buy	29,266,911 +1,391,000	+5%	+$72.7M	20.48%	1
2015 Q3	$1.6B	Buy	27,875,911 +6,609,873	+31%	+$400M	18.83%	1
2015 Q2	$1.38B	Buy	21,266,038 +20,074,646	+1,685%	+$1.27B	15.06%	2
2015 Q1	$67.4M	Buy	+1,191,392	New	+$65M	0.82%	25

Other funds holding YUM

T. Rowe Price Associates Baltimore, Maryland $865B AUM 30.76% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

BlackRock New York $5.72T AUM 30.48% 1-Year Est. Return

MAM

Magellan Asset Management Sydney, Australia $7.71B AUM 11.08% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Loomis, Sayles & Company Boston, Massachusetts $74.3B AUM 24.01% 1-Year Est. Return

Bank of New York Mellon New York $544B AUM 28.31% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Goldman Sachs New York $871B AUM 31.28% 1-Year Est. Return

Northern Trust Chicago, Illinois $757B AUM 28.64% 1-Year Est. Return

Corvex Management's YUM Position: Q2 2017 in Review

Corvex Management sold out of Yum! Brands (YUM) in Q2 2017, closing a stake of 7,950,654 shares — an estimated $508M sold.

Corvex Management first reported a position in YUM in Q1 2015 and held it in 9 quarters. The position peaked at $1.91B in Q3 2016. 860 funds tracked by Wall St. Rank hold YUM as of Q2 2017.

Corvex Management reported no remaining Yum! Brands position as of Q2 2017 after selling out during the quarter.
Corvex Management sold 7,950,654 Yum! Brands shares in Q2 2017, an estimated $508M.
Corvex Management first reported a position in Yum! Brands in Q1 2015 and held it in 9 quarters.
Corvex Management's Yum! Brands position peaked at $1.91B in Q3 2016.
860 funds tracked by Wall St. Rank held Yum! Brands as of Q2 2017.

Based on Corvex Management's 13F filing for Q2 2017, filed 14 Aug 2017.