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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
+2.93%
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
$2.09B
AUM Growth
-$571M
Cap. Flow
-$474M
Cap. Flow %
-22.71%
Top 10 Hldgs %
85.4%
Holding
35
New
9
Increased
5
Reduced
4
Closed
12

Top Buys

Rank Stock Value
1
CMCSA icon
Comcast
CMCSA
+$50.6M
2
TWX
Time Warner Inc
TWX
+$41.6M
3
FG
FGL Holdings Ordinary Shares
FG
+$38.7M
4
CHTR icon
Charter Communications
CHTR
+$32.3M
5
JBLU icon
JetBlue
JBLU
+$32.1M

Top Sells

Rank Stock Value
1
LUMN icon
Lumen
LUMN
+$370M
2
NOMD icon
Nomad Foods
NOMD
+$92.9M
3
P
Pandora Media Inc
P
+$87.9M
4
PAGP icon
Plains GP Holdings
PAGP
+$61.4M
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$45.8M

Sector Composition

Rank Sector Weight
1 Communication Services 27.96%
2 Energy 26.77%
3 Financials 12.22%
4 Healthcare 11.52%
5 Miscellaneous 10.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PAGP icon
26
Plains GP Holdings
PAGP
$5.54B
– –
-2,809,624
Closed -$61.4M
SIG icon
27
Signet Jewelers
SIG
$3.21B
– –
-335,052
Closed -$22.3M
SMH icon
28
PUT
VanEck Semiconductor ETF
SMH
$65.6B
– –
-2,000,000
Closed -$93.3M
SPY icon
29
State Street SPDR S&P 500 ETF Trust
SPY
$825B
– –
-37,821
Closed -$9.5M
TMUS icon
30
CALL
T-Mobile US
TMUS
$195B
– –
-1,000,000
Closed -$61.7M
XOP icon
31
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.78B
– –
-500,000
Closed -$68.2M
P
32
DELISTED
Pandora Media Inc
P
– –
-11,412,824
Closed -$87.9M
EVHC
33
CALL
DELISTED
Envision Healthcare Holdings Inc
EVHC
– –
-271,600
Closed -$12.2M
CFCOW
34
DELISTED
CF Corporation
CFCOW
– –
-500,000
Closed -$1.05M
1
2

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Corvex Management's Q4 2017 Portfolio in Review

As of Q4 2017, Corvex Management held 35 positions worth $2.09B, down 21% from $2.66B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Corvex Management withdrew a net $474M in Q4 2017, closing 12 positions and reducing 4 holdings. Its most notable exit was Lumen, an estimated $370M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 28% of assets, down from 36% a quarter earlier, followed by Energy and Financials.

Against the trend, Corvex Management opened a new position in Time Warner Inc worth $40.2M.

  • Corvex Management's largest Q4 2017 buy was Time Warner Inc: 440,000 shares worth $40.2M.
  • Corvex Management added most to Comcast in Q4 2017, an estimated $50.6M increase.
  • Corvex Management's biggest Q4 2017 reduction was Nomad Foods, cutting an estimated $92.9M.
  • Corvex Management fully exited Lumen in Q4 2017, selling an estimated $370M.
  • Corvex Management's ten largest holdings make up 85% of its $2.09B portfolio in Q4 2017.
  • Corvex Management opened 9 new positions and closed 12 in Q4 2017.
  • Corvex Management's portfolio value fell 21% quarter-over-quarter to $2.09B.

Based on Corvex Management's 13F filing for Q4 2017, filed 14 Feb 2018.