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Corvex Management Portfolio holdings

AUM $3.27B
1-Year Est. Return 38.53%
This Fund
S&P 500
This Quarter Est. Return
+20.41%
1 Year Est. Return
+38.53%
3 Year Est. Return
+95.78%
5 Year Est. Return
+93.81%
10 Year Est. Return
+360.33%
AUM
$8.43B
AUM Growth
+$1.3B
Cap. Flow
-$285M
Cap. Flow %
-3.38%
Top 10 Hldgs %
67.74%
Holding
70
New
13
Increased
13
Reduced
9
Closed
26

Top Buys

Rank Stock Value
1
MON
Monsanto Co
MON
+$352M
2
ICE icon
Intercontinental Exchange
ICE
+$233M
3
LAMR icon
Lamar Advertising Co
LAMR
+$112M
4
APC
Anadarko Petroleum
APC
+$94.2M
5
AGN
Allergan plc
AGN
+$91.4M

Top Sells

Rank Stock Value
1
TMO icon
Thermo Fisher Scientific
TMO
+$293M
2
AMT icon
American Tower
AMT
+$172M
3
LVLT
Level 3 Communications Inc
LVLT
+$141M
4
DHR icon
Danaher
DHR
+$129M
5
HCA icon
HCA Healthcare
HCA
+$116M

Sector Composition

Rank Sector Weight
1 Energy 32.08%
2 Miscellaneous 18.73%
3 Financials 9.79%
4 Healthcare 8.01%
5 Real Estate 8.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TAP icon
26
CALL
Molson Coors Class B
TAP
$7.32B
$74.2M 0.88%
+1,000,000
New +$64.4M
SBAC icon
27
SBA Communications
SBAC
$19.4B
$71.6M 0.85%
700,000
– –
DTV
28
DELISTED
DIRECTV COM STK (DE)
DTV
$68.5M 0.81%
+805,500
New +$65.6M
BUD icon
29
AB InBev
BUD
$156B
$64.6M 0.77%
562,100
+110,897
+25% +$12.2M
VYX icon
30
NCR Voyix
VYX
$1.04B
$54.6M 0.65%
2,538,555
-346,212
-12% -$6.99M
AGN
31
DELISTED
Allergan Inc
AGN
$53.9M 0.64%
318,720
+317,720
+31,772% +$49.5M
AGN
32
CALL
DELISTED
Allergan plc
AGN
$44.6M 0.53%
+200,000
New +$41.4M
DISH
33
DELISTED
DISH Network Corp.
DISH
$32.5M 0.39%
+499,800
New +$30M
EVTC icon
34
Evertec
EVTC
$1.69B
$30.2M 0.36%
1,244,601
-1,405,599
-53% -$33.5M
ENDP
35
DELISTED
Endo International plc
ENDP
$26.1M 0.31%
372,559
-100,000
-21% -$6.69M
APD icon
36
Air Products & Chemicals
APD
$64.7B
$25.7M 0.31%
+216,200
New +$24.1M
ESI icon
37
Element Solutions
ESI
$7.75B
$14.7M 0.17%
525,000
-1,520,645
-74% -$35.3M
GPRE icon
38
Green Plains
GPRE
$1.04B
$5.26M 0.06%
+160,100
New +$4.71M
TIME
39
DELISTED
Time Inc.
TIME
$5.21M 0.06%
+214,998
New +$5.03M
VVUS
40
DELISTED
Vivus Inc
VVUS
$4.86M 0.06%
91,271
– –
CCI.PRA
41
DELISTED
Crown Castle International Corp.
CCI.PRA
$3.56M 0.04%
35,000
– –
SAFE
42
Safehold
SAFE
$976M
$2.63M 0.03%
36,110
-566,529
-94% -$40.1M
ARIA
43
DELISTED
Ariad Pharmaceuticals Inc
ARIA
$637K 0.01%
100,000
– –
FDO
44
DELISTED
FAMILY DOLLAR STORES
FDO
$66K ﹤0.01%
1,000
– –
AMT icon
45
American Tower
AMT
$82.8B
– –
-2,100,000
Closed -$172M
CF icon
46
CF Industries
CF
$20.5B
– –
-5,000
Closed -$261K
CNP icon
47
CenterPoint Energy
CNP
$25B
– –
-992,570
Closed -$23.5M
DHR icon
48
Danaher
DHR
$147B
– –
-2,502,998
Closed -$129M
EMN icon
49
Eastman Chemical
EMN
$7.53B
– –
-798,684
Closed -$68.9M
EQT icon
50
EQT Corp
EQT
$33.2B
– –
-1,036,055
Closed -$54.7M
1
2
3

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Corvex Management's Q2 2014 Portfolio in Review

As of Q2 2014, Corvex Management held 70 positions worth $8.43B, up 18% from $7.13B the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Corvex Management withdrew a net $285M in Q2 2014, closing 26 positions and reducing 9 holdings. Its most notable exit was Thermo Fisher Scientific, an estimated $293M position sold in full.

By sector, the portfolio is most concentrated in Energy at 32% of assets, up from 27% a quarter earlier, followed by Miscellaneous and Financials.

Against the trend, Corvex Management opened a new position in Intercontinental Exchange worth $226M.

  • Corvex Management's largest Q2 2014 buy was Intercontinental Exchange: 5,981,065 shares worth $226M.
  • Corvex Management added most to Monsanto Co in Q2 2014, an estimated $352M increase.
  • Corvex Management's biggest Q2 2014 reduction was Level 3 Communications Inc, cutting an estimated $141M.
  • Corvex Management fully exited Thermo Fisher Scientific in Q2 2014, selling an estimated $293M.
  • Corvex Management's ten largest holdings make up 68% of its $8.43B portfolio in Q2 2014.
  • Corvex Management opened 13 new positions and closed 26 in Q2 2014.
  • Corvex Management's portfolio value rose 18% quarter-over-quarter to $8.43B.

Based on Corvex Management's 13F filing for Q2 2014, filed 14 Aug 2014.