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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
+20.41%
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
$8.43B
AUM Growth
+$1.3B
Cap. Flow
-$285M
Cap. Flow %
-3.38%
Top 10 Hldgs %
67.74%
Holding
70
New
13
Increased
13
Reduced
9
Closed
26

Top Buys

Rank Stock Value
1
MON
Monsanto Co
MON
+$352M
2
ICE icon
Intercontinental Exchange
ICE
+$233M
3
LAMR icon
Lamar Advertising Co
LAMR
+$112M
4
APC
Anadarko Petroleum
APC
+$94.2M
5
AGN
Allergan plc
AGN
+$91.4M

Top Sells

Rank Stock Value
1
TMO icon
Thermo Fisher Scientific
TMO
+$293M
2
AMT icon
American Tower
AMT
+$172M
3
LVLT
Level 3 Communications Inc
LVLT
+$141M
4
DHR icon
Danaher
DHR
+$129M
5
HCA icon
HCA Healthcare
HCA
+$116M

Sector Composition

Rank Sector Weight
1 Energy 32.08%
2 Miscellaneous 18.73%
3 Financials 9.79%
4 Healthcare 8.01%
5 Real Estate 8.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GM icon
51
CALL
General Motors
GM
$74.9B
– –
-1,500,000
Closed -$51.6M
PPLI
52
People Inc
PPLI
$2.85B
– –
-5,512,036
Closed -$70.3M
KR icon
53
CALL
Kroger
KR
$37.1B
– –
-1,000,000
Closed -$21.8M
LAMR icon
54
CALL
Lamar Advertising Co
LAMR
$15B
– –
-500,000
Closed -$25.5M
LAMR icon
55
PUT
Lamar Advertising Co
LAMR
$15B
– –
-1,250,000
Closed -$63.7M
MSGS icon
56
Madison Square Garden
MSGS
$9.47B
– –
-1,128,349
Closed -$45.7M
PEP icon
57
PepsiCo
PEP
$185B
– –
-747,600
Closed -$62.4M
PSX icon
58
Phillips 66
PSX
$106B
– –
-199,998
Closed -$15.4M
TEVA icon
59
CALL
Teva Pharmaceuticals
TEVA
$45.7B
– –
-500,000
Closed -$26.4M
TMO icon
60
CALL
Thermo Fisher Scientific
TMO
$237B
– –
-500,000
Closed -$60.1M
TMO icon
61
Thermo Fisher Scientific
TMO
$237B
– –
-2,439,794
Closed -$293M
VTRS icon
62
CALL
Viatris
VTRS
$19.1B
– –
-600,000
Closed -$29.3M
VTRS icon
63
Viatris
VTRS
$19.1B
– –
-659,500
Closed -$32.2M
VIAB
64
DELISTED
Viacom Inc. Class B
VIAB
– –
-1,240,008
Closed -$105M
NSM
65
DELISTED
Nationstar Mortgage Holdings
NSM
– –
-108,468
Closed -$3.6M
FDO
66
PUT
DELISTED
FAMILY DOLLAR STORES
FDO
– –
-584,700
Closed -$33.9M
ZLC
67
DELISTED
ZALE CORPORATION
ZLC
– –
-1,573,594
Closed -$32.9M
LPNT
68
DELISTED
LifePoint Health, Inc.
LPNT
– –
-154,759
Closed -$8.44M
TWC
69
DELISTED
TIME WARNER CABLE INC NEW COM STK
TWC
– –
-100,000
Closed -$13.7M
AGN
70
CALL
DELISTED
Allergan Inc
AGN
– –
-900,000
Closed -$112M
1 2
3

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Corvex Management's Q2 2014 Portfolio in Review

As of Q2 2014, Corvex Management held 70 positions worth $8.43B, up 18% from $7.13B the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Corvex Management withdrew a net $285M in Q2 2014, closing 26 positions and reducing 9 holdings. Its most notable exit was Thermo Fisher Scientific, an estimated $293M position sold in full.

By sector, the portfolio is most concentrated in Energy at 32% of assets, up from 27% a quarter earlier, followed by Miscellaneous and Financials.

Against the trend, Corvex Management opened a new position in Intercontinental Exchange worth $226M.

  • Corvex Management's largest Q2 2014 buy was Intercontinental Exchange: 5,981,065 shares worth $226M.
  • Corvex Management added most to Monsanto Co in Q2 2014, an estimated $352M increase.
  • Corvex Management's biggest Q2 2014 reduction was Level 3 Communications Inc, cutting an estimated $141M.
  • Corvex Management fully exited Thermo Fisher Scientific in Q2 2014, selling an estimated $293M.
  • Corvex Management's ten largest holdings make up 68% of its $8.43B portfolio in Q2 2014.
  • Corvex Management opened 13 new positions and closed 26 in Q2 2014.
  • Corvex Management's portfolio value rose 18% quarter-over-quarter to $8.43B.

Based on Corvex Management's 13F filing for Q2 2014, filed 14 Aug 2014.