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
+5.93%
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
$3.6B
AUM Growth
-$2.24B
(-38%)
Cap. Flow
-$1.95B
Cap. Flow
% of AUM
-53.98%
Top 10 Holdings %
Top 10 Hldgs %
59.85%
Holding
53
New
13
Increased
6
Reduced
9
Closed
18
Avg Time Held Equity + Options
0.6
years
Top 10 Avg Time Held Equity + Options
0.6
years
Top 20 Avg Time Held Equity + Options
0.7
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
0.7
years
Top 20 Avg Time Held Equity only
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pandora Media Inc
P
|
+$114M |
| 2 |
Meta Platforms (Facebook)
META
|
+$114M |
| 3 |
Praxair Inc
PX
|
+$104M |
| 4 |
Colgate-Palmolive
CL
|
+$99.7M |
| 5 |
EGN
Energen
EGN
|
+$72.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Yum! Brands
YUM
|
+$852M |
| 2 |
Williams Companies
WMB
|
+$440M |
| 3 |
T-Mobile US
TMUS
|
+$180M |
| 4 |
Salesforce
CRM
|
+$172M |
| 5 |
Fidelity National Financial
FNF
|
+$167M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 32.8% |
| 2 | Communication Services | 16.33% |
| 3 | Healthcare | 14.48% |
| 4 | Consumer Staples | 8.43% |
| 5 | Miscellaneous | 7.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
PRXL
26
DELISTED
Parexel International Corp
PRXL
| $46.7M | 1.29% |
739,540
-76,200
| -9% | -$5.04M |
2016 Q4
1 quarter
|
|
|
CLGX
27
DELISTED
Corelogic, Inc.
CLGX
| $45.8M | 1.27% |
+1,125,913
| New | +$42.7M |
2017 Q1
0 quarters
|
|
|
ETFC
28
CALL
DELISTED
E*Trade Financial Corporation
ETFC
| $34.9M | 0.97% |
+1,000,000
| New | +$35.9M |
2017 Q1
0 quarters
|
|
|
29
CALL
Salesforce
CRM
$194B
| $33M | 0.92% |
400,000
-500,000
| -56% | -$39.9M |
2016 Q4
1 quarter
|
|
30
Deckers Outdoor
DECK
$11.3B
| $25.5M | 0.71% |
+2,566,242
| New | +$23.7M |
2017 Q1
0 quarters
|
|
|
LCAHU
31
DELISTED
Landcadia Holdings, Inc. Unit
LCAHU
| $13.1M | 0.36% |
1,225,000
| – | – |
2016 Q2
3 quarters
|
|
|
CFCOU
32
DELISTED
CF Corporation
CFCOU
| $10.7M | 0.3% |
1,000,000
| – | – |
2016 Q2
3 quarters
|
|
33
Alnylam Pharmaceuticals
ALNY
$30B
| $1.29M | 0.04% |
+25,175
| New | +$1.16M |
2017 Q1
0 quarters
|
|
34
Bank of New York Mellon
BNY
$93.4B
| – | – |
-1,007,136
| Closed | -$47.7M | – |
|
35
Vistance Networks Inc
VISN
$1.36B
| – | – |
-3,368,392
| Closed | -$125M | – |
|
|
36
Fidelity National Financial
FNF
$10.5B
| – | – |
-7,083,203
| Closed | -$167M | – |
|
37
CALL
Humana
HUM
$51.3B
| – | – |
-325,000
| Closed | -$66.3M | – |
|
38
PUT
iShares Russell 2000 ETF
IWM
$76.4B
| – | – |
-3,000,000
| Closed | -$405M | – |
|
39
Johnson Controls International
JCI
$92.3B
| – | – |
-1,169,402
| Closed | -$48.2M | – |
|
40
JPMorgan Chase
JPM
$890B
| – | – |
-1,782,084
| Closed | -$154M | – |
|
41
Altria Group
MO
$122B
| – | – |
-979,019
| Closed | -$66.2M | – |
|
42
Marathon Petroleum
MPC
$136B
| – | – |
-577,000
| Closed | -$29.1M | – |
|
43
CALL
Netflix
NFLX
$294B
| – | – |
-8,681,000
| Closed | -$107M | – |
|
|
44
T-Mobile US
TMUS
$169B
| – | – |
-3,137,261
| Closed | -$180M | – |
|
|
45
Williams Companies
WMB
$89B
| – | – |
-14,123,943
| Closed | -$440M | – |
|
|
HDS
46
CALL
DELISTED
HD Supply Holdings, Inc.
HDS
| – | – |
-1,500,000
| Closed | -$63.8M | – |
|
|
HDS
47
DELISTED
HD Supply Holdings, Inc.
HDS
| – | – |
-84,010
| Closed | -$3.57M | – |
|
48
DELISTED
TD Ameritrade Holding Corp
AMTD
| – | – |
-613,369
| Closed | -$26.7M | – |
|
|
TWX
49
DELISTED
Time Warner Inc
TWX
| – | – |
-556,096
| Closed | -$53.7M | – |
|
|
LVLT
50
DELISTED
Level 3 Communications Inc
LVLT
| – | – |
-1,139,589
| Closed | -$64.2M | – |
|
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Corvex Management's Q1 2017 Portfolio in Review
As of Q1 2017, Corvex Management held 53 positions worth $3.6B, down 38% from $5.85B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Corvex Management withdrew a net $1.95B in Q1 2017, closing 18 positions and reducing 9 holdings. Its most notable exit was Williams Companies, an estimated $440M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, down from 38% a quarter earlier, followed by Communication Services and Healthcare.
Against the trend, Corvex Management opened a new position in Meta Platforms (Facebook) worth $121M.
- Corvex Management's largest Q1 2017 buy was Meta Platforms (Facebook): 850,000 shares worth $121M.
- Corvex Management added most to Pandora Media Inc in Q1 2017, an estimated $114M increase.
- Corvex Management's biggest Q1 2017 reduction was Yum! Brands, cutting an estimated $852M.
- Corvex Management fully exited Williams Companies in Q1 2017, selling an estimated $440M.
- Corvex Management's ten largest holdings make up 60% of its $3.6B portfolio in Q1 2017.
- Corvex Management opened 13 new positions and closed 18 in Q1 2017.
- Corvex Management's portfolio value fell 38% quarter-over-quarter to $3.6B.
Based on Corvex Management's 13F filing for Q1 2017, filed 15 May 2017.