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Corvex Management Portfolio holdings

AUM $2.52B
1-Year Est. Return 25.53%
This Fund
S&P 500
This Quarter Est. Return
-0.82%
1 Year Est. Return
+25.53%
3 Year Est. Return
+64.15%
5 Year Est. Return
+76.52%
10 Year Est. Return
+305.53%
AUM
$3.08B
AUM Growth
-$525M
Cap. Flow
-$487M
Cap. Flow %
-15.8%
Top 10 Hldgs %
69.09%
Holding
50
New
15
Increased
5
Reduced
6
Closed
15

Top Buys

Rank Stock Value
1
LUMN icon
Lumen
LUMN
+$477M
2
EGN
Energen
EGN
+$302M
3
SIG icon
Signet Jewelers
SIG
+$86.8M
4
TWX
Time Warner Inc
TWX
+$71.4M
5
JBLU icon
JetBlue
JBLU
+$67.9M

Top Sells

Rank Stock Value
1
YUM icon
Yum! Brands
YUM
+$508M
2
YUMC icon
Yum China
YUMC
+$282M
3
BALL icon
Ball Corp
BALL
+$197M
4
BIO icon
Bio-Rad Laboratories Class A
BIO
+$184M
5
CRM icon
Salesforce
CRM
+$107M

Sector Composition

Rank Sector Weight
1 Communication Services 34.01%
2 Energy 13.52%
3 Consumer Staples 7.16%
4 Consumer Discretionary 6.6%
5 Financials 6.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ET icon
26
CALL
Energy Transfer Partners
ET
$70.1B
$18M 0.58%
+1,000,000
New +$17.8M
RF icon
27
CALL
Regions Financial
RF
$26.3B
$14.6M 0.48%
+1,000,000
New +$14.1M
LCAHU
28
DELISTED
Landcadia Holdings, Inc. Unit
LCAHU
$13.2M 0.43%
1,225,000
– –
FG
29
DELISTED
FGL Holdings Ordinary Shares
FG
$11.3M 0.37%
+1,000,000
New +$10.6M
BALL icon
30
CALL
Ball Corp
BALL
$16.6B
$6.76M 0.22%
+160,200
New +$6.33M
CFCOW
31
DELISTED
CF Corporation
CFCOW
$5.63M 0.18%
+500,000
New +$921K
ALNY icon
32
Alnylam Pharmaceuticals
ALNY
$35.6B
$2.01M 0.07%
25,175
– –
BIO icon
33
Bio-Rad Laboratories Class A
BIO
$8.19B
$226K 0.01%
1,000
-846,141
-100% -$184M
BALL icon
34
Ball Corp
BALL
$16.6B
– –
-4,987,768
Closed -$197M
CL icon
35
CALL
Colgate-Palmolive
CL
$73.3B
– –
-1,000,000
Closed -$73.2M
CL icon
36
Colgate-Palmolive
CL
$73.3B
– –
-1,423,798
Closed -$104M
CRM icon
37
CALL
Salesforce
CRM
$133B
– –
-400,000
Closed -$33M
CRM icon
38
Salesforce
CRM
$133B
– –
-1,294,900
Closed -$107M
DECK icon
39
Deckers Outdoor
DECK
$14.2B
– –
-2,566,242
Closed -$25.5M
HUM icon
40
Humana
HUM
$47.7B
– –
-436,769
Closed -$90M
JACK icon
41
Jack in the Box
JACK
$272M
– –
-562,972
Closed -$57.3M
YUM icon
42
Yum! Brands
YUM
$40.7B
– –
-7,950,654
Closed -$508M
YUMC icon
43
Yum China
YUMC
$14.9B
– –
-10,352,967
Closed -$282M
ETFC
44
CALL
DELISTED
E*Trade Financial Corporation
ETFC
– –
-1,000,000
Closed -$34.9M
ETFC
45
DELISTED
E*Trade Financial Corporation
ETFC
– –
-1,728,520
Closed -$60.3M
PX
46
DELISTED
Praxair Inc
PX
– –
-886,015
Closed -$105M
CFCOU
47
DELISTED
CF Corporation
CFCOU
– –
-1,000,000
Closed -$10.7M
PRXL
48
DELISTED
Parexel International Corp
PRXL
– –
-739,540
Closed -$46.7M
1
2

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Corvex Management's Q2 2017 Portfolio in Review

As of Q2 2017, Corvex Management held 50 positions worth $3.08B, down 15% from $3.6B the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Corvex Management withdrew a net $487M in Q2 2017, closing 15 positions and reducing 6 holdings. Its most notable exit was Yum! Brands, an estimated $508M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 34% of assets, up from 14% a quarter earlier, followed by Energy and Consumer Staples.

Against the trend, Corvex Management opened a new position in Lumen worth $454M.

  • Corvex Management's largest Q2 2017 buy was Lumen: 18,998,645 shares worth $454M.
  • Corvex Management added most to Energen in Q2 2017, an estimated $302M increase.
  • Corvex Management's biggest Q2 2017 reduction was Bio-Rad Laboratories Class A, cutting an estimated $184M.
  • Corvex Management fully exited Yum! Brands in Q2 2017, selling an estimated $508M.
  • Corvex Management's ten largest holdings make up 69% of its $3.08B portfolio in Q2 2017.
  • Corvex Management opened 15 new positions and closed 15 in Q2 2017.
  • Corvex Management's portfolio value fell 15% quarter-over-quarter to $3.08B.

Based on Corvex Management's 13F filing for Q2 2017, filed 14 Aug 2017.