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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
-13.58%
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
$8.51B
AUM Growth
-$635M
Cap. Flow
+$952M
Cap. Flow %
11.19%
Top 10 Hldgs %
80.38%
Holding
51
New
11
Increased
12
Reduced
6
Closed
14

Top Buys

Rank Stock Value
1
YUM icon
Yum! Brands
YUM
+$400M
2
AET
Aetna Inc
AET
+$347M
3
AGN
Allergan plc
AGN
+$143M
4
APC
Anadarko Petroleum
APC
+$140M
5
BEAV
B/E Aerospace Inc
BEAV
+$81.7M

Top Sells

Rank Stock Value
1
ICE icon
Intercontinental Exchange
ICE
+$271M
2
LNG icon
Cheniere Energy
LNG
+$157M
3
ENDP
Endo International plc
ENDP
+$79.7M
4
CIT
CIT Group Inc.
CIT
+$70.6M
5
PARA
Paramount Global Class B
PARA
+$61M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 31.21%
2 Energy 18.19%
3 Financials 12.18%
4 Healthcare 8.29%
5 Industrials 4.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
YUM icon
1
Yum! Brands
YUM
$43.3B
$1.6B 18.83%
27,875,911
+6,609,873
+31% +$400M
WMB icon
2
Williams Companies
WMB
$86.7B
$1.54B 18.05%
41,682,960
– –
SIG icon
3
Signet Jewelers
SIG
$3.72B
$688M 8.08%
5,052,070
-70,000
-1% -$8.98M
FNF icon
4
Fidelity National Financial
FNF
$14B
$687M 8.07%
27,896,104
-1,493,054
-5% -$39.1M
VER
5
DELISTED
VEREIT, Inc.
VER
$622M 7.31%
16,121,611
+1,552,305
+11% +$64.8M
AGN
6
DELISTED
Allergan plc
AGN
$546M 6.42%
2,008,993
+464,090
+30% +$143M
BEAV
7
DELISTED
B/E Aerospace Inc
BEAV
$363M 4.27%
8,269,754
+1,638,846
+25% +$81.7M
AET
8
DELISTED
Aetna Inc
AET
$349M 4.1%
3,188,829
+3,000,829
+1,596% +$347M
TWX
9
DELISTED
Time Warner Inc
TWX
$255M 3%
3,713,287
+814,762
+28% +$64M
AGN
10
CALL
DELISTED
Allergan plc
AGN
$190M 2.24%
+700,000
New +$215M
TAP icon
11
Molson Coors Class B
TAP
$7.79B
$189M 2.22%
2,271,397
-189,518
-8% -$13.7M
BALL icon
12
Ball Corp
BALL
$17.4B
$170M 2%
5,474,622
+608,000
+12% +$20.6M
ESI icon
13
Element Solutions
ESI
$8.68B
$153M 1.8%
12,087,918
+2,651,696
+28% +$54.6M
APC
14
DELISTED
Anadarko Petroleum
APC
$119M 1.4%
+1,970,233
New +$140M
MDCO
15
DELISTED
Medicines Co
MDCO
$117M 1.38%
3,086,803
– –
EQC
16
DELISTED
Equity Commonwealth
EQC
$107M 1.26%
3,942,046
– –
AMAT icon
17
CALL
Applied Materials
AMAT
$398B
$103M 1.21%
7,000,000
– –
AN icon
18
AutoNation
AN
$7.18B
$93.9M 1.1%
1,613,687
+401,446
+33% +$24.4M
BUD icon
19
AB InBev
BUD
$166B
$90.1M 1.06%
847,891
-221,100
-21% -$25.7M
VTRS icon
20
CALL
Viatris
VTRS
$20.7B
$80.5M 0.95%
+2,000,000
New +$112M
TWX
21
CALL
DELISTED
Time Warner Inc
TWX
$68.8M 0.81%
+1,000,000
New +$78.6M
PRGO icon
22
Perrigo
PRGO
$1.43B
$59.5M 0.7%
378,235
+17,925
+5% +$3.29M
HUM icon
23
Humana
HUM
$44B
$49.2M 0.58%
274,654
+146,654
+115% +$27.1M
ODP
24
DELISTED
ODP
ODP
$41.8M 0.49%
+651,500
New +$50.7M
ENDP
25
DELISTED
Endo International plc
ENDP
$40.5M 0.48%
584,317
-995,379
-63% -$79.7M
1
2 3

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Corvex Management's Q3 2015 Portfolio in Review

As of Q3 2015, Corvex Management held 51 positions worth $8.51B, down 6.9% from $9.14B the previous quarter. Its ten largest holdings account for 80% of the portfolio.

Corvex Management deployed $952M of net new capital in Q3 2015, opening 11 new positions and adding to 12 existing holdings. Its largest new stake was Anadarko Petroleum: 1,970,233 shares worth $119M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 31% of assets, up from 26% a quarter earlier, followed by Energy and Financials.

On the sell side, the largest reduction was Endo International plc, an estimated $79.7M trimmed.

  • Corvex Management's largest Q3 2015 buy was Anadarko Petroleum: 1,970,233 shares worth $119M.
  • Corvex Management added most to Yum! Brands in Q3 2015, an estimated $400M increase.
  • Corvex Management's biggest Q3 2015 reduction was Endo International plc, cutting an estimated $79.7M.
  • Corvex Management fully exited Intercontinental Exchange in Q3 2015, selling an estimated $271M.
  • Corvex Management's ten largest holdings make up 80% of its $8.51B portfolio in Q3 2015.
  • Corvex Management opened 11 new positions and closed 14 in Q3 2015.
  • Corvex Management's portfolio value fell 6.9% quarter-over-quarter to $8.51B.

Based on Corvex Management's 13F filing for Q3 2015, filed 16 Nov 2015.