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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
+9.96%
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
$5.36B
AUM Growth
+$42.9M
Cap. Flow
-$339M
Cap. Flow %
-6.32%
Top 10 Hldgs %
48.91%
Holding
86
New
26
Increased
14
Reduced
13
Closed
22

Top Buys

Rank Stock Value
1
AMT icon
American Tower
AMT
+$144M
2
HCA icon
HCA Healthcare
HCA
+$80.9M
3
HRI icon
Herc Holdings
HRI
+$67M
4
LVLT
Level 3 Communications Inc
LVLT
+$62.1M
5
NUAN
Nuance Communications, Inc.
NUAN
+$61.2M

Top Sells

Rank Stock Value
1
GOOG icon
Alphabet (Google) Class C
GOOG
+$125M
2
TWC
TIME WARNER CABLE INC NEW COM STK
TWC
+$123M
3
TWX
Time Warner Inc
TWX
+$78.1M
4
FDO
FAMILY DOLLAR STORES
FDO
+$71.9M
5
CRI icon
Carter's
CRI
+$71.8M

Sector Composition

Rank Sector Weight
1 Energy 13.81%
2 Industrials 13.4%
3 Communication Services 11.9%
4 Real Estate 9.53%
5 Healthcare 9.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TWC
51
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
$20.7M 0.39%
185,710
-1,093,090
-85% -$123M
ASTX
52
DELISTED
ASTEX PHARMACEUTICALS, INC COM
ASTX
$20.7M 0.39%
+2,443,004
New +$15.5M
BRE
53
DELISTED
BRE PROPERTIES INC CL A
BRE
$20.7M 0.39%
+406,902
New +$20.5M
LVLT
54
CALL
DELISTED
Level 3 Communications Inc
LVLT
$20M 0.37%
750,000
-2,021,100
-73% -$46.6M
DD icon
55
CALL
DuPont de Nemours
DD
$18.6B
$19.2M 0.36%
+197,441
New +$18.4M
STWD icon
56
Starwood Property Trust
STWD
$6.12B
$16.7M 0.31%
+865,020
New +$17.4M
CHK
57
CALL
DELISTED
Chesapeake Energy Corporation
CHK
$12.9M 0.24%
2,643
– –
LIN
58
DELISTED
LIN MEDIA LLC CLASS A COM
LIN
$11.4M 0.21%
+563,400
New +$9.44M
HRI icon
59
CALL
Herc Holdings
HRI
$5.43B
$11.1M 0.21%
+166,667
New +$12.8M
FCX icon
60
CALL
Freeport-McMoran
FCX
$90B
$10.8M 0.2%
325,000
– –
VVUS
61
DELISTED
Vivus Inc
VVUS
$8.51M 0.16%
91,271
+51,271
+128% +$6.4M
SBGI icon
62
Sinclair Inc
SBGI
$974M
$6.7M 0.13%
+200,000
New +$5.64M
KMI.WS
63
DELISTED
Kinder Morgan Inc
KMI.WS
$2.49M 0.05%
500,600
– –
LPR
64
DELISTED
LONE PINE RES INC
LPR
$19K ﹤0.01%
3,897,100
– –
A icon
65
CALL
Agilent Technologies
A
$39.1B
– –
-1,398,000
Closed -$42.8M
A icon
66
Agilent Technologies
A
$39.1B
– –
-33,021
Closed -$1.01M
APA icon
67
CALL
APA Corp
APA
$12.8B
– –
-1,000,000
Closed -$83.8M
ARR
68
Armour Residential REIT
ARR
$2.02B
– –
-71,561
Closed -$13.5M
CRI icon
69
Carter's
CRI
$1.43B
– –
-969,023
Closed -$71.8M
GOOG icon
70
Alphabet (Google) Class C
GOOG
$3.9T
– –
-5,695,268
Closed -$125M
HLF icon
71
CALL
Herbalife
HLF
$1.23B
– –
-1,828,000
Closed -$41.3M
HUN icon
72
CALL
Huntsman Corp
HUN
$2.24B
– –
-989,300
Closed -$16.4M
JPM icon
73
JPMorgan Chase
JPM
$939B
– –
-400,000
Closed -$21.1M
NOV icon
74
NOV
NOV
$7.45B
– –
-221,800
Closed -$13.8M
NTAP icon
75
CALL
NetApp
NTAP
$32.9B
– –
-2,006,000
Closed -$75.8M
1 2
3
4

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Corvex Management's Q3 2013 Portfolio in Review

As of Q3 2013, Corvex Management held 86 positions worth $5.36B, up 0.81% from $5.32B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Corvex Management withdrew a net $339M in Q3 2013, closing 22 positions and reducing 13 holdings. Its most notable exit was Alphabet (Google) Class C, an estimated $125M position sold in full.

By sector, the portfolio is most concentrated in Energy at 14% of assets, up from 12% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Corvex Management opened a new position in American Tower worth $148M.

  • Corvex Management's largest Q3 2013 buy was American Tower: 2,000,000 shares worth $148M.
  • Corvex Management added most to HCA Healthcare in Q3 2013, an estimated $80.9M increase.
  • Corvex Management's biggest Q3 2013 reduction was TIME WARNER CABLE INC NEW COM STK, cutting an estimated $123M.
  • Corvex Management fully exited Alphabet (Google) Class C in Q3 2013, selling an estimated $125M.
  • Corvex Management's ten largest holdings make up 49% of its $5.36B portfolio in Q3 2013.
  • Corvex Management opened 26 new positions and closed 22 in Q3 2013.
  • Corvex Management's portfolio value rose 0.81% quarter-over-quarter to $5.36B.

Based on Corvex Management's 13F filing for Q3 2013, filed 14 Nov 2013.