CM
Corvex Management Portfolio holdings
AUM
$3.27B
Turnover
38.71%
1-Year Est. Return
38.53%
This Fund
S&P 500
This Quarter
Est. Return
+9.96%
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
$5.34B
AUM Growth
-$2.17B
(-29%)
Cap. Flow
-$935M
Cap. Flow
% of AUM
-17.51%
Top 10 Holdings %
Top 10 Hldgs %
83.55%
Holding
42
New
8
Increased
8
Reduced
5
Closed
12
Avg Time Held Equity + Options
0.7
years
Top 10 Avg Time Held Equity + Options
1.2
years
Top 20 Avg Time Held Equity + Options
0.8
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
1.2
years
Top 20 Avg Time Held Equity only
0.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Coca-Cola Europacific Partners
CCEP
|
+$67.5M |
| 2 |
Hain Celestial
HAIN
|
+$63.3M |
| 3 |
JPMorgan Chase
JPM
|
+$62M |
| 4 |
ZAYO
Zayo Group Holdings, Inc.
ZAYO
|
+$43.9M |
| 5 |
T-Mobile US
TMUS
|
+$39.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Williams Companies
WMB
|
+$612M |
| 2 |
Fidelity National Financial
FNF
|
+$300M |
| 3 |
VER
VEREIT, Inc.
VER
|
+$107M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$87.9M |
| 5 |
MON
Monsanto Co
MON
|
+$77.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 50.31% |
| 2 | Energy | 11.25% |
| 3 | Financials | 9.33% |
| 4 | Healthcare | 7.03% |
| 5 | Consumer Staples | 5.7% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Biogen
BIIB
$34.4B
| $16.3M | 0.3% |
+52,000
| New | +$15.4M |
2016 Q3
0 quarters
|
|
|
LCAHU
27
DELISTED
Landcadia Holdings, Inc. Unit
LCAHU
| $12.6M | 0.24% |
1,225,000
| – | – |
2016 Q2
1 quarter
|
|
|
CFCOU
28
DELISTED
CF Corporation
CFCOU
| $10.2M | 0.19% |
1,000,000
| – | – |
2016 Q2
1 quarter
|
|
|
MON
29
CALL
DELISTED
Monsanto Co
MON
| $511K | 0.01% |
5,000
| – | – |
2016 Q2
1 quarter
|
|
30
CALL
Ball Corp
BALL
$16B
| – | – |
-2,000,000
| Closed | -$72.3M | – |
|
|
31
Alphabet (Google) Class A
GOOGL
$4.25T
| – | – |
-2,499,460
| Closed | -$87.9M | – |
|
32
PUT
iShares Russell 2000 ETF
IWM
$76.4B
| – | – |
-8,000,000
| Closed | -$920M | – |
|
33
CALL
Marathon Petroleum
MPC
$136B
| – | – |
-650,000
| Closed | -$24.7M | – |
|
34
PUT
Invesco QQQ Trust
QQQ
$488B
| – | – |
-5,000,000
| Closed | -$538M | – |
|
35
PUT
TJX Companies
TJX
$157B
| – | – |
-1,000,000
| Closed | -$38.6M | – |
|
|
KSU
36
DELISTED
Kansas City Southern
KSU
| – | – |
-615,154
| Closed | -$55.4M | – |
|
|
VER
37
DELISTED
VEREIT, Inc.
VER
| – | – |
-2,107,438
| Closed | -$107M | – |
|
|
AGN
38
CALL
DELISTED
Allergan plc
AGN
| – | – |
-300,000
| Closed | -$69.3M | – |
|
|
MON
39
DELISTED
Monsanto Co
MON
| – | – |
-737,840
| Closed | -$77.4M | – |
|
|
AGN.PRA
40
DELISTED
Allergan plc
AGN.PRA
| – | – |
-15,000
| Closed | -$12.5M | – |
|
|
WWAV
41
DELISTED
The WhiteWave Foods Company
WWAV
| – | – |
-1,021,674
| Closed | -$48M | – |
|
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Corvex Management's Q3 2016 Portfolio in Review
As of Q3 2016, Corvex Management held 42 positions worth $5.34B, down 29% from $7.51B the previous quarter. Its ten largest holdings account for 84% of the portfolio.
Corvex Management withdrew a net $935M in Q3 2016, closing 12 positions and reducing 5 holdings. Its most notable exit was VEREIT, Inc., an estimated $107M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 50% of assets, up from 34% a quarter earlier, followed by Energy and Financials.
Against the trend, Corvex Management opened a new position in Coca-Cola Europacific Partners worth $70.6M.
- Corvex Management's largest Q3 2016 buy was Coca-Cola Europacific Partners: 1,769,661 shares worth $70.6M.
- Corvex Management added most to Zayo Group Holdings, Inc. in Q3 2016, an estimated $43.9M increase.
- Corvex Management's biggest Q3 2016 reduction was Williams Companies, cutting an estimated $612M.
- Corvex Management fully exited VEREIT, Inc. in Q3 2016, selling an estimated $107M.
- Corvex Management's ten largest holdings make up 84% of its $5.34B portfolio in Q3 2016.
- Corvex Management opened 8 new positions and closed 12 in Q3 2016.
- Corvex Management's portfolio value fell 29% quarter-over-quarter to $5.34B.
Based on Corvex Management's 13F filing for Q3 2016, filed 14 Nov 2016.