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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
+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
Cap. Flow
-$1.95B
Cap. Flow %
-53.98%
Top 10 Hldgs %
59.85%
Holding
53
New
13
Increased
6
Reduced
9
Closed
18

Top Buys

Rank Stock Value
1
P
Pandora Media Inc
P
+$114M
2
META icon
Meta Platforms (Facebook)
META
+$114M
3
PX
Praxair Inc
PX
+$104M
4
CL icon
Colgate-Palmolive
CL
+$99.7M
5
EGN
Energen
EGN
+$72.8M

Top Sells

Rank Stock Value
1
YUM icon
Yum! Brands
YUM
+$852M
2
WMB icon
Williams Companies
WMB
+$440M
3
TMUS icon
T-Mobile US
TMUS
+$180M
4
CRM icon
Salesforce
CRM
+$172M
5
FNF icon
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
PRXL
26
DELISTED
Parexel International Corp
PRXL
$46.7M 1.29%
739,540
-76,200
-9% -$5.04M
CLGX
27
DELISTED
Corelogic, Inc.
CLGX
$45.8M 1.27%
+1,125,913
New +$42.7M
ETFC
28
CALL
DELISTED
E*Trade Financial Corporation
ETFC
$34.9M 0.97%
+1,000,000
New +$35.9M
CRM icon
29
CALL
Salesforce
CRM
$211B
$33M 0.92%
400,000
-500,000
-56% -$39.9M
DECK icon
30
Deckers Outdoor
DECK
$12B
$25.5M 0.71%
+2,566,242
New +$23.7M
LCAHU
31
DELISTED
Landcadia Holdings, Inc. Unit
LCAHU
$13.1M 0.36%
1,225,000
– –
CFCOU
32
DELISTED
CF Corporation
CFCOU
$10.7M 0.3%
1,000,000
– –
ALNY icon
33
Alnylam Pharmaceuticals
ALNY
$31.7B
$1.29M 0.04%
+25,175
New +$1.16M
BNY
34
Bank of New York Mellon
BNY
$110B
– –
-1,007,136
Closed -$47.7M
VISN
35
Vistance Networks Inc
VISN
$1.4B
– –
-3,368,392
Closed -$125M
FNF icon
36
Fidelity National Financial
FNF
$12.8B
– –
-7,083,203
Closed -$167M
HUM icon
37
CALL
Humana
HUM
$46.3B
– –
-325,000
Closed -$66.3M
IWM icon
38
PUT
iShares Russell 2000 ETF
IWM
$80.8B
– –
-3,000,000
Closed -$405M
JCI icon
39
Johnson Controls International
JCI
$84.6B
– –
-1,169,402
Closed -$48.2M
JPM icon
40
JPMorgan Chase
JPM
$951B
– –
-1,782,084
Closed -$154M
MO icon
41
Altria Group
MO
$115B
– –
-979,019
Closed -$66.2M
MPC icon
42
Marathon Petroleum
MPC
$104B
– –
-577,000
Closed -$29.1M
NFLX icon
43
CALL
Netflix
NFLX
$340B
– –
-8,681,000
Closed -$107M
TMUS icon
44
T-Mobile US
TMUS
$195B
– –
-3,137,261
Closed -$180M
WMB icon
45
Williams Companies
WMB
$90.2B
– –
-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
AMTD
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
1
2
3

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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.