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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
-5.12%
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
$7.51B
AUM Growth
-$1B
(-12%)
Cap. Flow
-$365M
Cap. Flow
% of AUM
-4.86%
Top 10 Holdings %
Top 10 Hldgs %
82.15%
Holding
53
New
16
Increased
4
Reduced
8
Closed
19
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$555M |
| 2 |
Pfizer
PFE
|
+$401M |
| 3 |
Bank of America
BAC
|
+$159M |
| 4 |
VISN
Vistance Networks Inc
VISN
|
+$114M |
| 5 |
Signet Jewelers
SIG
|
+$78.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AGN
Allergan plc
AGN
|
+$384M |
| 2 |
BEAV
B/E Aerospace Inc
BEAV
|
+$362M |
| 3 |
AET
Aetna Inc
AET
|
+$349M |
| 4 |
TWX
Time Warner Inc
TWX
|
+$259M |
| 5 |
Molson Coors Class B
TAP
|
+$189M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 33.32% |
| 2 | Energy | 14.73% |
| 3 | Financials | 12.35% |
| 4 | Communication Services | 8.64% |
| 5 | Healthcare | 8.34% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
PUT
Hilton Worldwide
HLT
$74B
| $39.3M | 0.52% |
+612,033
| New | +$43.5M |
|
27
Kinder Morgan
KMI
$73.1B
| $34.5M | 0.46% |
+2,314,408
| New | +$55.2M |
|
|
28
CALL
Kinder Morgan
KMI
$73.1B
| $29.8M | 0.4% |
+2,000,000
| New | +$47.7M |
|
29
Element Solutions
ESI
$9.12B
| $25.3M | 0.34% |
1,974,470
-10,113,448
| -84% | -$123M |
|
|
AGN.PRA
30
DELISTED
Allergan plc
AGN.PRA
| $15.4M | 0.21% |
15,000
| – | – |
|
|
BEAV
31
DELISTED
B/E Aerospace Inc
BEAV
| $6.96M | 0.09% |
164,375
-8,105,379
| -98% | -$362M |
|
|
KSU
32
DELISTED
Kansas City Southern
KSU
| $2.1M | 0.03% |
+28,148
| New | +$2.4M |
|
|
TWX
33
DELISTED
Time Warner Inc
TWX
| $824K | 0.01% |
12,740
-3,700,547
| -100% | -$259M |
|
|
ARIA
34
DELISTED
Ariad Pharmaceuticals Inc
ARIA
| $625K | 0.01% |
100,000
| – | – |
|
35
CALL
Applied Materials
AMAT
$426B
| – | – |
-7,000,000
| Closed | -$103M |
|
|
36
Applied Materials
AMAT
$426B
| – | – |
-101,500
| Closed | -$1.49M |
|
37
AB InBev
BUD
$158B
| – | – |
-847,891
| Closed | -$90.1M |
|
38
eBay
EBAY
$48.6B
| – | – |
-1,612,919
| Closed | -$39.4M |
|
39
Group 1 Automotive
GPI
$3.94B
| – | – |
-236,638
| Closed | -$20.1M |
|
40
Humana
HUM
$46.7B
| – | – |
-274,654
| Closed | -$49.2M |
|
|
ODP
41
DELISTED
ODP
ODP
| – | – |
-651,500
| Closed | -$41.8M |
|
|
42
CALL
Pfizer
PFE
$140B
| – | – |
-1,054,000
| Closed | -$31.4M |
|
43
Perrigo
PRGO
$1.4B
| – | – |
-378,235
| Closed | -$59.5M |
|
|
44
Molson Coors Class B
TAP
$7.68B
| – | – |
-2,271,397
| Closed | -$189M |
|
45
CALL
Viatris
VTRS
$20.1B
| – | – |
-2,000,000
| Closed | -$80.5M |
|
|
ENDP
46
DELISTED
Endo International plc
ENDP
| – | – |
-584,317
| Closed | -$40.5M |
|
|
APC
47
DELISTED
Anadarko Petroleum
APC
| – | – |
-1,970,233
| Closed | -$119M |
|
|
AET
48
DELISTED
Aetna Inc
AET
| – | – |
-3,188,829
| Closed | -$349M |
|
|
AXLL
49
DELISTED
AXIALL CORP COM STK (DE)
AXLL
| – | – |
-452,035
| Closed | -$7.09M |
|
|
CRC
50
DELISTED
California Resources Corporation
CRC
| – | – |
-447,470
| Closed | -$11.6M |
|
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Corvex Management's Q4 2015 Portfolio in Review
As of Q4 2015, Corvex Management held 53 positions worth $7.51B, down 12% from $8.51B the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Corvex Management withdrew a net $365M in Q4 2015, closing 19 positions and reducing 8 holdings. Its most notable exit was Aetna Inc, an estimated $349M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, up from 31% a quarter earlier, followed by Energy and Financials.
Against the trend, Corvex Management opened a new position in Alphabet (Google) Class A worth $584M.
- Corvex Management's largest Q4 2015 buy was Alphabet (Google) Class A: 15,000,000 shares worth $584M.
- Corvex Management added most to Pfizer in Q4 2015, an estimated $401M increase.
- Corvex Management's biggest Q4 2015 reduction was Allergan plc, cutting an estimated $384M.
- Corvex Management fully exited Aetna Inc in Q4 2015, selling an estimated $349M.
- Corvex Management's ten largest holdings make up 82% of its $7.51B portfolio in Q4 2015.
- Corvex Management opened 16 new positions and closed 19 in Q4 2015.
- Corvex Management's portfolio value fell 12% quarter-over-quarter to $7.51B.
Based on Corvex Management's 13F filing for Q4 2015, filed 16 Feb 2016.