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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
+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
Cap. Flow
-$292M
Cap. Flow %
-4.99%
Top 10 Hldgs %
65.76%
Holding
48
New
17
Increased
6
Reduced
11
Closed
8

Top Buys

Rank Stock Value
1
YUMC icon
Yum China
YUMC
+$398M
2
CRM icon
Salesforce
CRM
+$251M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$139M
4
BAC icon
Bank of America
BAC
+$137M
5
TMUS icon
T-Mobile US
TMUS
+$119M

Top Sells

Rank Stock Value
1
YUM icon
Yum! Brands
YUM
+$517M
2
SIG icon
Signet Jewelers
SIG
+$352M
3
FNF icon
Fidelity National Financial
FNF
+$202M
4
WMB icon
Williams Companies
WMB
+$136M
5
TMH
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
TWX
26
DELISTED
Time Warner Inc
TWX
$53.7M 0.92%
+556,096
New +$49.5M
PRXL
27
DELISTED
Parexel International Corp
PRXL
$53.6M 0.92%
+815,740
New +$51.2M
ZAYO
28
DELISTED
Zayo Group Holdings, Inc.
ZAYO
$53.5M 0.92%
1,628,775
– –
JCI icon
29
Johnson Controls International
JCI
$84.6B
$48.2M 0.82%
1,169,402
-1,793,950
-61% -$78.6M
BNY
30
Bank of New York Mellon
BNY
$110B
$47.7M 0.82%
+1,007,136
New +$45.4M
MPC icon
31
Marathon Petroleum
MPC
$104B
$29.1M 0.5%
577,000
-123,000
-18% -$5.58M
AMTD
32
DELISTED
TD Ameritrade Holding Corp
AMTD
$26.7M 0.46%
+613,369
New +$23.8M
ETFC
33
DELISTED
E*Trade Financial Corporation
ETFC
$26.3M 0.45%
+759,689
New +$24.2M
HUM icon
34
Humana
HUM
$46.3B
$22M 0.38%
+107,925
New +$20.6M
LCAHU
35
DELISTED
Landcadia Holdings, Inc. Unit
LCAHU
$12.7M 0.22%
1,225,000
– –
CFCOU
36
DELISTED
CF Corporation
CFCOU
$10.5M 0.18%
1,000,000
– –
TMH
37
DELISTED
Team Health Holdings Inc
TMH
$8.27M 0.14%
190,398
-2,928,408
-94% -$121M
HDS
38
DELISTED
HD Supply Holdings, Inc.
HDS
$3.57M 0.06%
+84,010
New +$3.1M
BIIB icon
39
Biogen
BIIB
$32.3B
– –
-52,000
Closed -$16.3M
CCEP icon
40
Coca-Cola Europacific Partners
CCEP
$48.2B
– –
-1,769,661
Closed -$70.6M
ET icon
41
CALL
Energy Transfer Partners
ET
$73.4B
– –
-1,000,000
Closed -$16.8M
HAIN icon
42
Hain Celestial
HAIN
$66.1M
– –
-1,443,585
Closed -$51.4M
JPM icon
43
CALL
JPMorgan Chase
JPM
$951B
– –
-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
1
2

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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.