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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
-3.61%
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
$6.05B
AUM Growth
-$1.45B
Cap. Flow
-$1.04B
Cap. Flow %
-17.11%
Top 10 Hldgs %
89.53%
Holding
39
New
4
Increased
7
Reduced
3
Closed
18

Top Buys

Rank Stock Value
1
PFE icon
Pfizer
PFE
+$154M
2
BHC icon
Bausch Health
BHC
+$149M
3
NOMD icon
Nomad Foods
NOMD
+$129M
4
ESI icon
Element Solutions
ESI
+$98.2M
5
TMH
Team Health Holdings Inc
TMH
+$61.3M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$287M
2
VER
VEREIT, Inc.
VER
+$285M
3
AGN
Allergan plc
AGN
+$175M
4
BAC icon
Bank of America
BAC
+$158M
5
AN icon
AutoNation
AN
+$96.3M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 43.61%
2 Energy 11.06%
3 Financials 10.71%
4 Healthcare 9.93%
5 Communication Services 6.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
YUM icon
1
Yum! Brands
YUM
$40.6B
$1.72B 28.44%
29,266,911
– –
SIG icon
2
Signet Jewelers
SIG
$3.51B
$736M 12.16%
5,933,531
+304,378
+5% +$34.6M
WMB icon
3
Williams Companies
WMB
$90.7B
$670M 11.06%
41,682,960
– –
FNF icon
4
Fidelity National Financial
FNF
$13.7B
$648M 10.71%
27,550,578
+360,100
+1% +$8.06M
PFE icon
5
Pfizer
PFE
$141B
$520M 8.59%
18,486,216
+5,401,493
+41% +$154M
VER
6
DELISTED
VEREIT, Inc.
VER
$390M 6.44%
8,792,798
-7,191,033
-45% -$285M
GOOGL icon
7
Alphabet (Google) Class A
GOOGL
$4.3T
$275M 4.54%
7,208,000
-7,792,000
-52% -$287M
BALL icon
8
Ball Corp
BALL
$16.6B
$182M 3.01%
5,111,914
+400,532
+9% +$13.7M
VISN
9
Vistance Networks Inc
VISN
$2.69B
$140M 2.31%
5,008,258
+1,056,331
+27% +$25.6M
NOMD icon
10
Nomad Foods
NOMD
$1.66B
$137M 2.27%
+15,255,146
New +$129M
ESI icon
11
Element Solutions
ESI
$8.88B
$124M 2.05%
14,431,671
+12,457,201
+631% +$98.2M
EQC
12
DELISTED
Equity Commonwealth
EQC
$111M 1.84%
3,942,046
– –
MDCO
13
DELISTED
Medicines Co
MDCO
$98.1M 1.62%
3,086,803
– –
P
14
DELISTED
Pandora Media Inc
P
$88.8M 1.47%
9,923,142
+5,143,925
+108% +$50.5M
TMH
15
DELISTED
Team Health Holdings Inc
TMH
$62.6M 1.03%
+1,498,412
New +$61.3M
BHC icon
16
Bausch Health
BHC
$1.75B
$52.8M 0.87%
+2,008,510
New +$149M
ET icon
17
CALL
Energy Transfer Partners
ET
$69.8B
$46.3M 0.77%
6,500,000
– –
AGN
18
DELISTED
Allergan plc
AGN
$28.7M 0.47%
107,221
-611,839
-85% -$175M
AGN.PRA
19
DELISTED
Allergan plc
AGN.PRA
$13.7M 0.23%
15,000
– –
GLPI icon
20
Gaming and Leisure Properties
GLPI
$12.6B
$1.55M 0.03%
+50,000
New +$1.36M
AN icon
21
AutoNation
AN
$6.62B
– –
-1,613,687
Closed -$96.3M
BAC icon
22
CALL
Bank of America
BAC
$424B
– –
-2,500,000
Closed -$42.1M
BAC icon
23
Bank of America
BAC
$424B
– –
-9,401,500
Closed -$158M
CCL icon
24
PUT
Carnival Corporation Ltd
CCL
$35.7B
– –
-786,400
Closed -$42.8M
CFG icon
25
Citizens Financial Group
CFG
$30.2B
– –
-1,659,430
Closed -$43.5M
1
2

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Corvex Management's Q1 2016 Portfolio in Review

As of Q1 2016, Corvex Management held 39 positions worth $6.05B, down 19% from $7.51B the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Corvex Management withdrew a net $1.04B in Q1 2016, closing 18 positions and reducing 3 holdings. Its most notable exit was Bank of America, an estimated $158M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 44% of assets, up from 33% a quarter earlier, followed by Energy and Financials.

Against the trend, Corvex Management opened a new position in Bausch Health worth $52.8M.

  • Corvex Management's largest Q1 2016 buy was Bausch Health: 2,008,510 shares worth $52.8M.
  • Corvex Management added most to Pfizer in Q1 2016, an estimated $154M increase.
  • Corvex Management's biggest Q1 2016 reduction was Alphabet (Google) Class A, cutting an estimated $287M.
  • Corvex Management fully exited Bank of America in Q1 2016, selling an estimated $158M.
  • Corvex Management's ten largest holdings make up 90% of its $6.05B portfolio in Q1 2016.
  • Corvex Management opened 4 new positions and closed 18 in Q1 2016.
  • Corvex Management's portfolio value fell 19% quarter-over-quarter to $6.05B.

Based on Corvex Management's 13F filing for Q1 2016, filed 16 May 2016.