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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
+13.42%
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
$4.83B
AUM Growth
-$533M
Cap. Flow
-$1B
Cap. Flow %
-20.78%
Top 10 Hldgs %
59.51%
Holding
87
New
23
Increased
7
Reduced
12
Closed
30

Top Buys

Rank Stock Value
1
FNF icon
Fidelity National Financial
FNF
+$449M
2
GM icon
General Motors
GM
+$198M
3
CCI icon
Crown Castle
CCI
+$154M
4
EQT icon
EQT Corp
EQT
+$66.3M
5
SIG icon
Signet Jewelers
SIG
+$65.3M

Top Sells

Rank Stock Value
1
ADT
ADT Corp
ADT
+$441M
2
STZ icon
Constellation Brands
STZ
+$180M
3
TLM
TALISMAN ENERGY INC
TLM
+$132M
4
VOD icon
Vodafone
VOD
+$121M
5
PARA
Paramount Global Class B
PARA
+$109M

Sector Composition

Rank Sector Weight
1 Real Estate 15.77%
2 Healthcare 14.04%
3 Energy 14.02%
4 Financials 13.06%
5 Industrials 6.39%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
STWD icon
26
Starwood Property Trust
STWD
$6.12B
$54.2M 1.12%
2,427,474
+1,562,454
+181% +$33.1M
SBAC icon
27
SBA Communications
SBAC
$18.4B
$53.9M 1.12%
600,000
– –
S
28
CALL
DELISTED
Sprint Corporation
S
$48.4M 1%
+4,500,000
New +$33.9M
NRF
29
DELISTED
NorthStar Realty Finance Corp.
NRF
$40.3M 0.83%
+1,524,488
New +$30.8M
CYH icon
30
CALL
Community Health Systems
CYH
$385M
$39.3M 0.81%
+1,210,000
New +$41.6M
NSM
31
DELISTED
Nationstar Mortgage Holdings
NSM
$37.7M 0.78%
1,020,000
+142,400
+16% +$6.38M
AGN
32
DELISTED
Allergan plc
AGN
$33.6M 0.69%
+199,756
New +$31.2M
KBR icon
33
KBR
KBR
$4.68B
$28.4M 0.59%
+889,004
New +$29.5M
BHC icon
34
Bausch Health
BHC
$1.65B
$27.6M 0.57%
+235,500
New +$25.8M
MHFI
35
CALL
DELISTED
MCGRAW-HILL FINANCIAL INC COM
MHFI
$27.4M 0.57%
350,000
– –
LIN
36
DELISTED
LIN MEDIA LLC CLASS A COM
LIN
$27.3M 0.56%
949,600
+386,200
+69% +$9.73M
LAMR icon
37
CALL
Lamar Advertising Co
LAMR
$16.2B
$26.1M 0.54%
+500,000
New +$24.4M
POT
38
CALL
DELISTED
Potash Corp Of Saskatchewan
POT
$25.9M 0.54%
+785,600
New +$25M
AGN
39
DELISTED
Allergan Inc
AGN
$24.9M 0.52%
+224,500
New +$21.4M
CF icon
40
CALL
CF Industries
CF
$19.2B
$23.3M 0.48%
500,000
– –
AGN
41
CALL
DELISTED
Allergan Inc
AGN
$22.2M 0.46%
+200,000
New +$19.1M
LPNT
42
DELISTED
LifePoint Health, Inc.
LPNT
$19.5M 0.4%
+369,459
New +$18.5M
ADT
43
DELISTED
ADT Corp
ADT
$17.5M 0.36%
433,585
-10,732,436
-96% -$441M
CNP icon
44
CenterPoint Energy
CNP
$29.1B
$16.2M 0.34%
+700,000
New +$16.8M
KBR icon
45
CALL
KBR
KBR
$4.68B
$15.9M 0.33%
+500,000
New +$16.6M
HRI icon
46
CALL
Herc Holdings
HRI
$5.43B
$14.3M 0.3%
166,667
– –
TWC
47
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$13.6M 0.28%
100,000
-85,710
-46% -$10.6M
HLF icon
48
Herbalife
HLF
$1.23B
$12.6M 0.26%
319,034
-518,972
-62% -$18M
APC
49
DELISTED
Anadarko Petroleum
APC
$11.5M 0.24%
144,680
-782,084
-84% -$70.1M
NXST icon
50
Nexstar Media Group
NXST
$5.6B
$8.38M 0.17%
150,354
-1,017,746
-87% -$48.6M
1
2
3 4

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Corvex Management's Q4 2013 Portfolio in Review

As of Q4 2013, Corvex Management held 87 positions worth $4.83B, down 9.9% from $5.36B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Corvex Management withdrew a net $1B in Q4 2013, closing 30 positions and reducing 12 holdings. Its most notable exit was Constellation Brands, an estimated $180M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 16% of assets, up from 9.5% a quarter earlier, followed by Healthcare and Energy.

Against the trend, Corvex Management opened a new position in General Motors worth $214M.

  • Corvex Management's largest Q4 2013 buy was General Motors: 5,240,000 shares worth $214M.
  • Corvex Management added most to Fidelity National Financial in Q4 2013, an estimated $449M increase.
  • Corvex Management's biggest Q4 2013 reduction was ADT Corp, cutting an estimated $441M.
  • Corvex Management fully exited Constellation Brands in Q4 2013, selling an estimated $180M.
  • Corvex Management's ten largest holdings make up 60% of its $4.83B portfolio in Q4 2013.
  • Corvex Management opened 23 new positions and closed 30 in Q4 2013.
  • Corvex Management's portfolio value fell 9.9% quarter-over-quarter to $4.83B.

Based on Corvex Management's 13F filing for Q4 2013, filed 14 Feb 2014.