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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
+13.42%
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
$4.83B
AUM Growth
-$533M
(-9.9%)
Cap. Flow
-$1B
Cap. Flow
% of AUM
-20.78%
Top 10 Holdings %
Top 10 Hldgs %
59.51%
Holding
87
New
23
Increased
7
Reduced
12
Closed
30
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Fidelity National Financial
FNF
|
+$449M |
| 2 |
General Motors
GM
|
+$198M |
| 3 |
Crown Castle
CCI
|
+$154M |
| 4 |
EQT Corp
EQT
|
+$66.3M |
| 5 |
Signet Jewelers
SIG
|
+$65.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ADT
ADT Corp
ADT
|
+$441M |
| 2 |
Constellation Brands
STZ
|
+$180M |
| 3 |
TLM
TALISMAN ENERGY INC
TLM
|
+$132M |
| 4 |
Vodafone
VOD
|
+$121M |
| 5 |
PARA
Paramount Global Class B
PARA
|
+$109M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 15.77% |
| 2 | Healthcare | 14.04% |
| 3 | Energy | 14.02% |
| 4 | Financials | 13.06% |
| 5 | Industrials | 6.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
VVUS
51
DELISTED
Vivus Inc
VVUS
| $8.29M | 0.17% |
91,271
| – | – |
|
|
ARIA
52
DELISTED
Ariad Pharmaceuticals Inc
ARIA
| $4.95M | 0.1% |
+725,000
| New | +$3.91M |
|
|
CRR
53
PUT
DELISTED
Carbo Ceramics Inc.
CRR
| $3.79M | 0.08% |
+32,500
| New | +$3.7M |
|
|
CCI.PRA
54
DELISTED
Crown Castle International Corp.
CCI.PRA
| $3.5M | 0.07% |
+35,000
| New | +$3.53M |
|
55
CF Industries
CF
$19.2B
| $233K | ﹤0.01% |
5,000
-1,568,500
| -100% | -$68.6M |
|
|
FDO
56
DELISTED
FAMILY DOLLAR STORES
FDO
| $65K | ﹤0.01% |
+1,000
| New | +$68.4K |
|
57
Herc Holdings
HRI
$5.43B
| $29K | ﹤0.01% |
333
-873,000
| -100% | -$62.4M |
|
58
CALL
Apple
AAPL
$4.89T
| – | – |
-2,800,000
| Closed | -$47.7M |
|
59
Community Health Systems
CYH
$385M
| – | – |
-867,207
| Closed | -$29.8M |
|
60
CALL
DuPont de Nemours
DD
$18.6B
| – | – |
-197,441
| Closed | -$19.2M |
|
61
CALL
Freeport-McMoran
FCX
$90B
| – | – |
-325,000
| Closed | -$10.8M |
|
62
Hyatt Hotels
H
$17.6B
| – | – |
-789,901
| Closed | -$33.9M |
|
63
PUT
Herbalife
HLF
$1.23B
| – | – |
-1,841,000
| Closed | -$64.2M |
|
64
Huntsman Corp
HUN
$2.24B
| – | – |
-2,411,515
| Closed | -$49.7M |
|
65
Liberty Global Class A
LBTYA
$3.31B
| – | – |
-2,967,465
| Closed | -$97.1M |
|
66
Liberty Global Class C
LBTYK
$3.27B
| – | – |
-800,503
| Closed | -$24.4M |
|
67
Cheniere Energy
LNG
$56.5B
| – | – |
-650,774
| Closed | -$22.2M |
|
68
CALL
Microsoft
MSFT
$2.84T
| – | – |
-6,266,700
| Closed | -$209M |
|
69
PUT
Polaris
PII
$4.15B
| – | – |
-200,000
| Closed | -$25.8M |
|
70
CALL
Qualcomm
QCOM
$176B
| – | – |
-775,000
| Closed | -$52.2M |
|
|
71
Qualcomm
QCOM
$176B
| – | – |
-1,168,200
| Closed | -$78.7M |
|
72
Sinclair Inc
SBGI
$974M
| – | – |
-200,000
| Closed | -$6.7M |
|
|
73
Constellation Brands
STZ
$22.2B
| – | – |
-3,134,505
| Closed | -$180M |
|
|
74
PUT
Constellation Brands
STZ
$22.2B
| – | – |
-500,000
| Closed | -$28.7M |
|
|
75
Vodafone
VOD
$34.9B
| – | – |
-3,382,291
| Closed | -$121M |
|
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Corvex Management's Q4 2013 Portfolio in Review
As of Q4 2013, Corvex Management held 87 positions worth $4.83B, down 9.9% from $5.36B the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Corvex Management withdrew a net $1B in Q4 2013, closing 30 positions and reducing 12 holdings. Its most notable exit was Constellation Brands, an estimated $180M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 16% of assets, up from 9.5% a quarter earlier, followed by Healthcare and Energy.
Against the trend, Corvex Management opened a new position in General Motors worth $214M.
- Corvex Management's largest Q4 2013 buy was General Motors: 5,240,000 shares worth $214M.
- Corvex Management added most to Fidelity National Financial in Q4 2013, an estimated $449M increase.
- Corvex Management's biggest Q4 2013 reduction was ADT Corp, cutting an estimated $441M.
- Corvex Management fully exited Constellation Brands in Q4 2013, selling an estimated $180M.
- Corvex Management's ten largest holdings make up 60% of its $4.83B portfolio in Q4 2013.
- Corvex Management opened 23 new positions and closed 30 in Q4 2013.
- Corvex Management's portfolio value fell 9.9% quarter-over-quarter to $4.83B.
Based on Corvex Management's 13F filing for Q4 2013, filed 14 Feb 2014.