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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
-3.61%
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
$6.05B
AUM Growth
-$1.45B
(-19%)
Cap. Flow
-$1.04B
Cap. Flow
% of AUM
-17.11%
Top 10 Holdings %
Top 10 Hldgs %
89.53%
Holding
39
New
4
Increased
7
Reduced
3
Closed
18
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pfizer
PFE
|
+$154M |
| 2 |
Bausch Health
BHC
|
+$149M |
| 3 |
Nomad Foods
NOMD
|
+$129M |
| 4 |
Element Solutions
ESI
|
+$98.2M |
| 5 |
TMH
Team Health Holdings Inc
TMH
|
+$61.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alphabet (Google) Class A
GOOGL
|
+$287M |
| 2 |
VER
VEREIT, Inc.
VER
|
+$285M |
| 3 |
AGN
Allergan plc
AGN
|
+$175M |
| 4 |
Bank of America
BAC
|
+$158M |
| 5 |
AutoNation
AN
|
+$96.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 43.61% |
| 2 | Energy | 11.06% |
| 3 | Financials | 10.71% |
| 4 | Healthcare | 9.93% |
| 5 | Communication Services | 6.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
CMA
26
DELISTED
Comerica
CMA
| – | – |
-1,702,278
| Closed | -$71.2M |
|
27
CALL
GSK
GSK
$102B
| – | – |
-800,000
| Closed | -$40.4M |
|
28
PUT
Hilton Worldwide
HLT
$72.9B
| – | – |
-612,033
| Closed | -$39.3M |
|
29
CALL
Kinder Morgan
KMI
$72.9B
| – | – |
-2,000,000
| Closed | -$29.8M |
|
|
30
Kinder Morgan
KMI
$72.9B
| – | – |
-2,314,408
| Closed | -$34.5M |
|
31
PUT
Royal Caribbean
RCL
$76B
| – | – |
-700,000
| Closed | -$70.8M |
|
32
PUT
United Airlines
UAL
$37.4B
| – | – |
-797,600
| Closed | -$45.7M |
|
|
KSU
33
DELISTED
Kansas City Southern
KSU
| – | – |
-28,148
| Closed | -$2.1M |
|
|
AGN
34
CALL
DELISTED
Allergan plc
AGN
| – | – |
-300,000
| Closed | -$93.8M |
|
|
TWX
35
CALL
DELISTED
Time Warner Inc
TWX
| – | – |
-3,000,000
| Closed | -$194M |
|
|
TWX
36
DELISTED
Time Warner Inc
TWX
| – | – |
-12,740
| Closed | -$824K |
|
|
BEAV
37
DELISTED
B/E Aerospace Inc
BEAV
| – | – |
-164,375
| Closed | -$6.96M |
|
|
ARIA
38
DELISTED
Ariad Pharmaceuticals Inc
ARIA
| – | – |
-100,000
| Closed | -$625K |
|
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Corvex Management's Q1 2016 Portfolio in Review
As of Q1 2016, Corvex Management held 39 positions worth $6.05B, down 19% from $7.51B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Corvex Management withdrew a net $1.04B in Q1 2016, closing 18 positions and reducing 3 holdings. Its most notable exit was Bank of America, an estimated $158M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 44% of assets, up from 33% a quarter earlier, followed by Energy and Financials.
Against the trend, Corvex Management opened a new position in Bausch Health worth $52.8M.
- Corvex Management's largest Q1 2016 buy was Bausch Health: 2,008,510 shares worth $52.8M.
- Corvex Management added most to Pfizer in Q1 2016, an estimated $154M increase.
- Corvex Management's biggest Q1 2016 reduction was Alphabet (Google) Class A, cutting an estimated $287M.
- Corvex Management fully exited Bank of America in Q1 2016, selling an estimated $158M.
- Corvex Management's ten largest holdings make up 90% of its $6.05B portfolio in Q1 2016.
- Corvex Management opened 4 new positions and closed 18 in Q1 2016.
- Corvex Management's portfolio value fell 19% quarter-over-quarter to $6.05B.
Based on Corvex Management's 13F filing for Q1 2016, filed 16 May 2016.