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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
-5.12%
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
$7.51B
AUM Growth
-$1B
Cap. Flow
-$365M
Cap. Flow %
-4.86%
Top 10 Hldgs %
82.15%
Holding
53
New
16
Increased
4
Reduced
8
Closed
19

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$555M
2
PFE icon
Pfizer
PFE
+$401M
3
BAC icon
Bank of America
BAC
+$159M
4
VISN
Vistance Networks Inc
VISN
+$114M
5
SIG icon
Signet Jewelers
SIG
+$78.2M

Top Sells

Rank Stock Value
1
AGN
Allergan plc
AGN
+$384M
2
BEAV
B/E Aerospace Inc
BEAV
+$362M
3
AET
Aetna Inc
AET
+$349M
4
TWX
Time Warner Inc
TWX
+$259M
5
TAP icon
Molson Coors Class B
TAP
+$189M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 33.32%
2 Energy 14.73%
3 Financials 12.35%
4 Communication Services 8.64%
5 Healthcare 8.34%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
YUM icon
1
Yum! Brands
YUM
$40.6B
$1.54B 20.48%
29,266,911
+1,391,000
+5% +$72.7M
WMB icon
2
Williams Companies
WMB
$90.7B
$1.07B 14.27%
41,682,960
– –
SIG icon
3
Signet Jewelers
SIG
$3.51B
$696M 9.28%
5,629,153
+577,083
+11% +$78.2M
FNF icon
4
Fidelity National Financial
FNF
$13.7B
$654M 8.72%
27,190,478
-705,626
-3% -$17.2M
VER
5
DELISTED
VEREIT, Inc.
VER
$633M 8.43%
15,983,831
-137,780
-0.9% -$5.65M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.3T
$584M 7.77%
+15,000,000
New +$555M
PFE icon
7
Pfizer
PFE
$141B
$401M 5.34%
13,084,723
+12,753,503
+3,850% +$401M
AGN
8
DELISTED
Allergan plc
AGN
$225M 2.99%
719,060
-1,289,933
-64% -$384M
TWX
9
CALL
DELISTED
Time Warner Inc
TWX
$194M 2.58%
3,000,000
+2,000,000
+200% +$140M
BALL icon
10
Ball Corp
BALL
$16.6B
$171M 2.28%
4,711,382
-763,240
-14% -$26.1M
BAC icon
11
Bank of America
BAC
$424B
$158M 2.11%
+9,401,500
New +$159M
MDCO
12
DELISTED
Medicines Co
MDCO
$115M 1.54%
3,086,803
– –
EQC
13
DELISTED
Equity Commonwealth
EQC
$109M 1.46%
3,942,046
– –
VISN
14
Vistance Networks Inc
VISN
$2.69B
$102M 1.36%
+3,951,927
New +$114M
AN icon
15
AutoNation
AN
$6.62B
$96.3M 1.28%
1,613,687
– –
AGN
16
CALL
DELISTED
Allergan plc
AGN
$93.8M 1.25%
300,000
-400,000
-57% -$119M
ET icon
17
CALL
Energy Transfer Partners
ET
$69.8B
$89.3M 1.19%
+6,500,000
New +$121M
CMA
18
DELISTED
Comerica
CMA
$71.2M 0.95%
+1,702,278
New +$74.4M
RCL icon
19
PUT
Royal Caribbean
RCL
$76.7B
$70.8M 0.94%
+700,000
New +$66.7M
P
20
DELISTED
Pandora Media Inc
P
$64.1M 0.85%
+4,779,217
New +$71.2M
UAL icon
21
PUT
United Airlines
UAL
$38.1B
$45.7M 0.61%
+797,600
New +$46.1M
CFG icon
22
Citizens Financial Group
CFG
$30.2B
$43.5M 0.58%
+1,659,430
New +$41.8M
CCL icon
23
PUT
Carnival Corporation Ltd
CCL
$35.7B
$42.8M 0.57%
+786,400
New +$40.7M
BAC icon
24
CALL
Bank of America
BAC
$424B
$42.1M 0.56%
+2,500,000
New +$42.3M
GSK icon
25
CALL
GSK
GSK
$100B
$40.4M 0.54%
+800,000
New +$40.8M
1
2 3

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Corvex Management's Q4 2015 Portfolio in Review

As of Q4 2015, Corvex Management held 53 positions worth $7.51B, down 12% from $8.51B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Corvex Management withdrew a net $365M in Q4 2015, closing 19 positions and reducing 8 holdings. Its most notable exit was Aetna Inc, an estimated $349M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, up from 31% a quarter earlier, followed by Energy and Financials.

Against the trend, Corvex Management opened a new position in Alphabet (Google) Class A worth $584M.

  • Corvex Management's largest Q4 2015 buy was Alphabet (Google) Class A: 15,000,000 shares worth $584M.
  • Corvex Management added most to Pfizer in Q4 2015, an estimated $401M increase.
  • Corvex Management's biggest Q4 2015 reduction was Allergan plc, cutting an estimated $384M.
  • Corvex Management fully exited Aetna Inc in Q4 2015, selling an estimated $349M.
  • Corvex Management's ten largest holdings make up 82% of its $7.51B portfolio in Q4 2015.
  • Corvex Management opened 16 new positions and closed 19 in Q4 2015.
  • Corvex Management's portfolio value fell 12% quarter-over-quarter to $7.51B.

Based on Corvex Management's 13F filing for Q4 2015, filed 16 Feb 2016.