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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
-1.2%
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
$8.29B
AUM Growth
-$135M
Cap. Flow
-$41.9M
Cap. Flow %
-0.51%
Top 10 Hldgs %
70.15%
Holding
64
New
20
Increased
9
Reduced
12
Closed
17

Top Buys

Rank Stock Value
1
TWX
Time Warner Inc
TWX
+$127M
2
APC
Anadarko Petroleum
APC
+$125M
3
DHR icon
Danaher
DHR
+$119M
4
BUD icon
AB InBev
BUD
+$95.7M
5
AGN
Allergan Inc
AGN
+$71.6M

Top Sells

Rank Stock Value
1
WBA
Walgreens Boots Alliance
WBA
+$127M
2
HCA icon
HCA Healthcare
HCA
+$108M
3
LVLT
Level 3 Communications Inc
LVLT
+$91.1M
4
AZN icon
AstraZeneca
AZN
+$90.6M
5
PARA
Paramount Global Class B
PARA
+$85M

Sector Composition

Rank Sector Weight
1 Energy 28.55%
2 Financials 10.35%
3 Consumer Discretionary 7.8%
4 Healthcare 7.64%
5 Real Estate 7.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WMB icon
1
Williams Companies
WMB
$90.7B
$2.31B 27.83%
41,682,960
– –
SIG icon
2
Signet Jewelers
SIG
$3.51B
$628M 7.57%
5,510,911
-121,500
-2% -$13.4M
FNF icon
3
Fidelity National Financial
FNF
$13.7B
$561M 6.77%
29,155,669
-2,871,949
-9% -$55.5M
APC
4
DELISTED
Anadarko Petroleum
APC
$374M 4.51%
3,688,030
+1,161,450
+46% +$125M
MON
5
DELISTED
Monsanto Co
MON
$372M 4.49%
3,308,484
-145,200
-4% -$17M
ICE icon
6
CALL
Intercontinental Exchange
ICE
$80.1B
$371M 4.47%
9,500,000
+6,000,000
+171% +$230M
AGN
7
DELISTED
Allergan plc
AGN
$337M 4.07%
1,396,803
+218,990
+19% +$49M
TWTC
8
DELISTED
TW TELECOM INC CL A COM
TWTC
$319M 3.84%
7,660,595
– –
CCI icon
9
Crown Castle
CCI
$34.1B
$283M 3.42%
3,518,108
-69,688
-2% -$5.38M
ICE icon
10
Intercontinental Exchange
ICE
$80.1B
$263M 3.18%
6,751,065
+770,000
+13% +$29.5M
TWX
11
DELISTED
Time Warner Inc
TWX
$263M 3.17%
3,495,995
+1,640,995
+88% +$127M
CCI icon
12
CALL
Crown Castle
CCI
$34.1B
$201M 2.43%
+2,500,000
New +$193M
LAMR icon
13
Lamar Advertising Co
LAMR
$16.4B
$193M 2.33%
3,923,762
+435,000
+12% +$22.4M
BUD icon
14
AB InBev
BUD
$156B
$157M 1.9%
1,418,986
+856,886
+152% +$95.7M
CLX icon
15
CALL
Clorox
CLX
$11.6B
$146M 1.76%
+1,515,300
New +$137M
DG icon
16
Dollar General
DG
$27.5B
$134M 1.62%
2,197,029
-1,028,157
-32% -$61.5M
AGN
17
DELISTED
Allergan Inc
AGN
$134M 1.61%
750,000
+431,280
+135% +$71.6M
DHR icon
18
Danaher
DHR
$142B
$119M 1.43%
+2,321,018
New +$119M
TAP icon
19
CALL
Molson Coors Class B
TAP
$7.8B
$112M 1.35%
1,500,000
+500,000
+50% +$36.5M
PARA
20
DELISTED
Paramount Global Class B
PARA
$102M 1.23%
1,900,497
-1,443,769
-43% -$85M
EQC
21
DELISTED
Equity Commonwealth
EQC
$101M 1.22%
3,942,046
-1,733,204
-31% -$46.2M
AGN
22
PUT
DELISTED
Allergan Inc
AGN
$89.1M 1.07%
+500,000
New +$83M
BEAV
23
DELISTED
B/E Aerospace Inc
BEAV
$67.2M 0.81%
+1,104,800
New +$69.9M
OII icon
24
Oceaneering
OII
$4.27B
$60M 0.72%
+921,333
New +$63.7M
BID
25
CALL
DELISTED
Sotheby's
BID
$53.6M 0.65%
+1,500,000
New +$59.1M
1
2 3

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Corvex Management's Q3 2014 Portfolio in Review

As of Q3 2014, Corvex Management held 64 positions worth $8.29B, down 1.6% from $8.43B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

Corvex Management's Q3 2014 filing shows 20 new, 9 increased, 12 reduced and 17 closed positions. Its largest new stake was Danaher: 2,321,018 shares worth $119M. The largest sale was Walgreens Boots Alliance, an estimated $127M.

By sector, the portfolio is most concentrated in Energy at 29% of assets, down from 29% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Corvex Management's largest Q3 2014 buy was Danaher: 2,321,018 shares worth $119M.
  • Corvex Management added most to Time Warner Inc in Q3 2014, an estimated $127M increase.
  • Corvex Management's biggest Q3 2014 reduction was Paramount Global Class B, cutting an estimated $85M.
  • Corvex Management fully exited Walgreens Boots Alliance in Q3 2014, selling an estimated $127M.
  • Corvex Management's ten largest holdings make up 70% of its $8.29B portfolio in Q3 2014.
  • Corvex Management opened 20 new positions and closed 17 in Q3 2014.
  • Corvex Management's portfolio value fell 1.6% quarter-over-quarter to $8.29B.

Based on Corvex Management's 13F filing for Q3 2014, filed 14 Nov 2014.