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
+4.75%
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
$5.85B
AUM Growth
+$510M
(+9.5%)
Cap. Flow
-$292M
Cap. Flow
% of AUM
-4.99%
Top 10 Holdings %
Top 10 Hldgs %
65.76%
Holding
48
New
17
Increased
6
Reduced
11
Closed
8
Avg Time Held Equity + Options
0.6
years
Top 10 Avg Time Held Equity + Options
1.2
years
Top 20 Avg Time Held Equity + Options
0.9
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
1.3
years
Top 20 Avg Time Held Equity only
1
year
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Yum China
YUMC
|
+$398M |
| 2 |
Salesforce
CRM
|
+$251M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$139M |
| 4 |
Bank of America
BAC
|
+$137M |
| 5 |
T-Mobile US
TMUS
|
+$119M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Yum! Brands
YUM
|
+$517M |
| 2 |
Signet Jewelers
SIG
|
+$352M |
| 3 |
Fidelity National Financial
FNF
|
+$202M |
| 4 |
Williams Companies
WMB
|
+$136M |
| 5 |
Team Health Holdings Inc
TMH
|
+$121M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 37.76% |
| 2 | Miscellaneous | 12.8% |
| 3 | Financials | 10.79% |
| 4 | Communication Services | 9.87% |
| 5 | Energy | 8.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
TWX
26
DELISTED
Time Warner Inc
TWX
| $53.7M | 0.92% |
+556,096
| New | +$49.5M |
2016 Q4
0 quarters
|
|
|
PRXL
27
DELISTED
Parexel International Corp
PRXL
| $53.6M | 0.92% |
+815,740
| New | +$51.2M |
2016 Q4
0 quarters
|
|
|
ZAYO
28
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $53.5M | 0.92% |
1,628,775
| – | – |
2016 Q2
2 quarters
|
|
29
Johnson Controls International
JCI
$92.3B
| $48.2M | 0.82% |
1,169,402
-1,793,950
| -61% | -$78.6M |
2016 Q2
2 quarters
|
|
30
Bank of New York Mellon
BNY
$93.4B
| $47.7M | 0.82% |
+1,007,136
| New | +$45.4M |
2016 Q4
0 quarters
|
|
31
Marathon Petroleum
MPC
$136B
| $29.1M | 0.5% |
577,000
-123,000
| -18% | -$5.58M |
2016 Q2
2 quarters
|
|
32
DELISTED
TD Ameritrade Holding Corp
AMTD
| $26.7M | 0.46% |
+613,369
| New | +$23.8M |
2016 Q4
0 quarters
|
|
|
ETFC
33
DELISTED
E*Trade Financial Corporation
ETFC
| $26.3M | 0.45% |
+759,689
| New | +$24.2M |
2016 Q4
0 quarters
|
|
34
Humana
HUM
$51.3B
| $22M | 0.38% |
+107,925
| New | +$20.6M |
2016 Q4
0 quarters
|
|
|
LCAHU
35
DELISTED
Landcadia Holdings, Inc. Unit
LCAHU
| $12.7M | 0.22% |
1,225,000
| – | – |
2016 Q2
2 quarters
|
|
|
CFCOU
36
DELISTED
CF Corporation
CFCOU
| $10.5M | 0.18% |
1,000,000
| – | – |
2016 Q2
2 quarters
|
|
|
37
DELISTED
Team Health Holdings Inc
TMH
| $8.27M | 0.14% |
190,398
-2,928,408
| -94% | -$121M |
2016 Q1
3 quarters
|
|
|
HDS
38
DELISTED
HD Supply Holdings, Inc.
HDS
| $3.57M | 0.06% |
+84,010
| New | +$3.1M |
2016 Q4
0 quarters
|
|
39
Biogen
BIIB
$34.4B
| – | – |
-52,000
| Closed | -$16.3M | – |
|
40
Coca-Cola Europacific Partners
CCEP
$47.1B
| – | – |
-1,769,661
| Closed | -$70.6M | – |
|
41
CALL
Energy Transfer Partners
ET
$69.7B
| – | – |
-1,000,000
| Closed | -$16.8M | – |
|
42
Hain Celestial
HAIN
$52.5M
| – | – |
-1,443,585
| Closed | -$51.4M | – |
|
43
CALL
JPMorgan Chase
JPM
$890B
| – | – |
-250,000
| Closed | -$16.6M | – |
|
|
CSOD
44
DELISTED
Cornerstone OnDemand, Inc.
CSOD
| – | – |
-753,933
| Closed | -$34.6M | – |
|
|
MON
45
CALL
DELISTED
Monsanto Co
MON
| – | – |
-5,000
| Closed | -$511K | – |
|
|
BEAV
46
DELISTED
B/E Aerospace Inc
BEAV
| – | – |
-1,272,522
| Closed | -$65.7M | – |
|
Similar funds
ADEF
CAMG
SCM
VVP
BG
OCM
PCM
VA
Corvex Management's Q4 2016 Portfolio in Review
As of Q4 2016, Corvex Management held 48 positions worth $5.85B, up 9.5% from $5.34B the previous quarter. Its ten largest holdings account for 66% of the portfolio.
Corvex Management withdrew a net $292M in Q4 2016, closing 8 positions and reducing 11 holdings. Its most notable exit was Coca-Cola Europacific Partners, an estimated $70.6M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 38% of assets, down from 50% a quarter earlier, followed by Miscellaneous and Financials.
Against the trend, Corvex Management opened a new position in Yum China worth $382M.
- Corvex Management's largest Q4 2016 buy was Yum China: 14,633,097 shares worth $382M.
- Corvex Management added most to Bank of America in Q4 2016, an estimated $137M increase.
- Corvex Management's biggest Q4 2016 reduction was Yum! Brands, cutting an estimated $517M.
- Corvex Management fully exited Coca-Cola Europacific Partners in Q4 2016, selling an estimated $70.6M.
- Corvex Management's ten largest holdings make up 66% of its $5.85B portfolio in Q4 2016.
- Corvex Management opened 17 new positions and closed 8 in Q4 2016.
- Corvex Management's portfolio value rose 9.5% quarter-over-quarter to $5.85B.
Based on Corvex Management's 13F filing for Q4 2016, filed 14 Feb 2017.