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Corvex Management Portfolio holdings

AUM $2.52B
1-Year Est. Return 25.53%
This Fund
S&P 500
This Quarter Est. Return
+9.96%
1 Year Est. Return
+25.53%
3 Year Est. Return
+64.15%
5 Year Est. Return
+76.52%
10 Year Est. Return
+305.53%
AUM
$5.36B
AUM Growth
+$42.9M
Cap. Flow
-$339M
Cap. Flow %
-6.32%
Top 10 Hldgs %
48.91%
Holding
86
New
26
Increased
14
Reduced
13
Closed
22

Top Buys

Rank Stock Value
1
AMT icon
American Tower
AMT
+$144M
2
HCA icon
HCA Healthcare
HCA
+$80.9M
3
HRI icon
Herc Holdings
HRI
+$67M
4
LVLT
Level 3 Communications Inc
LVLT
+$62.1M
5
NUAN
Nuance Communications, Inc.
NUAN
+$61.2M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$125M
2
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$123M
3
TWX
Time Warner Inc
TWX
+$78.1M
4
FDO
FAMILY DOLLAR STORES
FDO
+$71.9M
5
CRI icon
Carter's
CRI
+$71.8M

Sector Composition

Rank Sector Weight
1 Energy 13.81%
2 Industrials 13.4%
3 Communication Services 11.9%
4 Real Estate 9.53%
5 Healthcare 9.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FNF icon
26
Fidelity National Financial
FNF
$13.8B
$65.4M 1.22%
+4,306,385
New +$60.7M
HLF icon
27
PUT
Herbalife
HLF
$1.23B
$64.2M 1.2%
+1,841,000
New +$56.9M
NUAN
28
DELISTED
Nuance Communications, Inc.
NUAN
$59.8M 1.12%
+3,696,000
New +$61.2M
HRI icon
29
Herc Holdings
HRI
$5.41B
$58.1M 1.08%
+873,333
New +$67M
LAMR icon
30
Lamar Advertising Co
LAMR
$16.2B
$56.1M 1.05%
1,192,665
-1,235,573
-51% -$54.5M
QCOM icon
31
CALL
Qualcomm
QCOM
$176B
$52.2M 0.97%
775,000
-875,000
-53% -$57.4M
NXST icon
32
Nexstar Media Group
NXST
$5.62B
$52M 0.97%
+1,168,100
New +$41.8M
SAFE
33
Safehold
SAFE
$1.18B
$49.8M 0.93%
849,916
+35,952
+4% +$2.01M
HUN icon
34
Huntsman Corp
HUN
$2.26B
$49.7M 0.93%
2,411,515
-1,607,031
-40% -$29.3M
NSM
35
DELISTED
Nationstar Mortgage Holdings
NSM
$49.3M 0.92%
+877,600
New +$42.8M
HMA
36
DELISTED
HEALTH MGMT ASSOC INC CL-A
HMA
$49.3M 0.92%
3,851,634
-352,949
-8% -$4.9M
SBAC icon
37
SBA Communications
SBAC
$18.5B
$48.3M 0.9%
+600,000
New +$45.5M
AAPL icon
38
CALL
Apple
AAPL
$4.89T
$47.7M 0.89%
+2,800,000
New +$46.4M
CCI icon
39
Crown Castle
CCI
$32.8B
$46.7M 0.87%
+640,000
New +$45.8M
DISH
40
DELISTED
DISH Network Corp.
DISH
$44.7M 0.83%
+993,353
New +$44.7M
ENDP
41
DELISTED
Endo International plc
ENDP
$37.4M 0.7%
+822,559
New +$33.1M
H icon
42
Hyatt Hotels
H
$17.8B
$33.9M 0.63%
+789,901
New +$34.7M
CYH icon
43
Community Health Systems
CYH
$379M
$29.7M 0.55%
867,207
+325,468
+60% +$11.5M
HLF icon
44
Herbalife
HLF
$1.23B
$29.2M 0.55%
+838,006
New +$25.9M
STZ icon
45
PUT
Constellation Brands
STZ
$22.2B
$28.7M 0.54%
500,000
-800,000
-62% -$43.5M
PII icon
46
PUT
Polaris
PII
$4.17B
$25.8M 0.48%
+200,000
New +$22.5M
LBTYK icon
47
Liberty Global Class C
LBTYK
$3.2B
$24.4M 0.46%
800,503
– –
MHFI
48
CALL
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
$23M 0.43%
350,000
– –
LNG icon
49
Cheniere Energy
LNG
$56.4B
$22.2M 0.41%
650,774
– –
CF icon
50
CALL
CF Industries
CF
$19.3B
$21.1M 0.39%
+500,000
New +$19.2M
1
2
3 4

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Corvex Management's Q3 2013 Portfolio in Review

As of Q3 2013, Corvex Management held 86 positions worth $5.36B, up 0.81% from $5.32B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Corvex Management withdrew a net $339M in Q3 2013, closing 22 positions and reducing 13 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $125M position sold in full.

By sector, the portfolio is most concentrated in Energy at 14% of assets, up from 12% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Corvex Management opened a new position in American Tower worth $148M.

  • Corvex Management's largest Q3 2013 buy was American Tower: 2,000,000 shares worth $148M.
  • Corvex Management added most to HCA Healthcare in Q3 2013, an estimated $80.9M increase.
  • Corvex Management's biggest Q3 2013 reduction was TIME WARNER CABLE INC NEW COM STK, cutting an estimated $123M.
  • Corvex Management fully exited Alphabet (Google) Class C in Q3 2013, selling an estimated $125M.
  • Corvex Management's ten largest holdings make up 49% of its $5.36B portfolio in Q3 2013.
  • Corvex Management opened 26 new positions and closed 22 in Q3 2013.
  • Corvex Management's portfolio value rose 0.81% quarter-over-quarter to $5.36B.

Based on Corvex Management's 13F filing for Q3 2013, filed 14 Nov 2013.