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
+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
(-21%)
Cap. Flow
-$474M
Cap. Flow
% of AUM
-22.71%
Top 10 Holdings %
Top 10 Hldgs %
85.4%
Holding
35
New
9
Increased
5
Reduced
4
Closed
12
Avg Time Held Equity + Options
0.6
years
Top 10 Avg Time Held Equity + Options
0.4
years
Top 20 Avg Time Held Equity + Options
0.5
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
0.5
years
Top 20 Avg Time Held Equity only
0.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Comcast
CMCSA
|
+$50.6M |
| 2 |
TWX
Time Warner Inc
TWX
|
+$41.6M |
| 3 |
FGL Holdings Ordinary Shares
FG
|
+$38.7M |
| 4 |
Charter Communications
CHTR
|
+$32.3M |
| 5 |
JetBlue
JBLU
|
+$32.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lumen Technologies, Inc. Common Stock
LUMN
|
+$370M |
| 2 |
Nomad Foods
NOMD
|
+$92.9M |
| 3 |
Pandora Media Inc
P
|
+$87.9M |
| 4 |
Plains GP Holdings
PAGP
|
+$61.4M |
| 5 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
|
26
Plains GP Holdings
PAGP
$5.37B
| – | – |
-2,809,624
| Closed | -$61.4M | – |
|
27
Signet Jewelers
SIG
$4.14B
| – | – |
-335,052
| Closed | -$22.3M | – |
|
28
PUT
VanEck Semiconductor ETF
SMH
$68.8B
| – | – |
-2,000,000
| Closed | -$93.3M | – |
|
29
State Street SPDR S&P 500 ETF Trust
SPY
$813B
| – | – |
-37,821
| Closed | -$9.5M | – |
|
30
CALL
T-Mobile US
TMUS
$169B
| – | – |
-1,000,000
| Closed | -$61.7M | – |
|
31
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$4.26B
| – | – |
-500,000
| Closed | -$68.2M | – |
|
|
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 | – |
|
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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 Technologies, Inc. Common Stock, 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 Technologies, Inc. Common Stock 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.