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Corvex Management Portfolio holdings
AUM
$3.27B
Turnover
38.71%
1-Year Est. Return
38.53%
Corvex Management runs private investment funds. Keith Meister, who earlier worked at Icahn Enterprises, formed the firm in December 2010 and is its principal owner. It follows an event-driven approach, studying a company's business and credit and looking for a catalyst, and often seeks to be an active investor that works with portfolio companies. An affiliate, Corvex PE, advises funds for longer-term investments, including take-private deals.
This Fund
S&P 500
This Quarter Est. Return
+6.22%
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
$7.51B
AUM Growth
+$1.45B
(+24%)
Cap. Flow
-$391M
Cap. Flow % of AUM
Cap. Flow %
-5.21%
Top 10 Holdings %
Top 10 Hldgs %
80.66%
Holding
39
New
18
Increased
6
Reduced
3
Closed
5
Avg Time Held
Equity + Options
0.5
years
Top 10 Avg Time Held
Equity + Options
1
year
Top 20 Avg Time Held
Equity + Options
0.8
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
1
year
Top 20 Avg Time Held Equity only
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
BEAV
B/E Aerospace Inc
BEAV
|
+$129M |
| 2 |
Johnson Controls International
JCI
|
+$113M |
| 3 |
Signet Jewelers
SIG
|
+$90.4M |
| 4 |
MON
Monsanto Co
MON
|
+$73.1M |
| 5 |
Bio-Rad Laboratories Class A
BIO
|
+$69.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pfizer
PFE
|
+$520M |
| 2 |
VER
VEREIT, Inc.
VER
|
+$315M |
| 3 |
Alphabet (Google) Class A
GOOGL
|
+$173M |
| 4 |
Equity Commonwealth
EQC
|
+$111M |
| 5 |
Bausch Health
BHC
|
+$52.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 34.06% |
| 2 | Miscellaneous | 23.94% |
| 3 | Energy | 12.3% |
| 4 | Financials | 9.4% |
| 5 | Healthcare | 4.62% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Yum! Brands
YUM
$43B
| $1.74B | 23.24% |
29,266,911
| – | – |
2015 Q1
5 quarters
|
|
2
PUT
iShares Russell 2000 ETF
IWM
$77.9B
| $920M | 12.25% |
+8,000,000
| New | +$903M |
2016 Q2
0 quarters
|
|
3
Williams Companies
WMB
$84.3B
| $902M | 12.01% |
41,682,960
| – | – |
2013 Q2
12 quarters
|
|
4
Fidelity National Financial
FNF
$11.8B
| $706M | 9.4% |
27,104,190
-446,388
| -2% | -$10.5M |
2013 Q3
11 quarters
|
|
|
5
Signet Jewelers
SIG
$4.61B
| $562M | 7.49% |
6,823,414
+889,883
| +15% | +$90.4M |
2013 Q4
10 quarters
|
|
6
PUT
Invesco QQQ Trust
QQQ
$458B
| $538M | 7.16% |
+5,000,000
| New | +$540M |
2016 Q2
0 quarters
|
|
7
Ball Corp
BALL
$17.4B
| $250M | 3.33% |
6,916,326
+1,804,412
| +35% | +$65.3M |
2015 Q2
4 quarters
|
|
8
Vistance Networks Inc
VISN
$841M
| $163M | 2.17% |
5,258,258
+250,000
| +5% | +$7.42M |
2015 Q4
2 quarters
|
|
9
DELISTED
Pandora Media Inc
P
| $142M | 1.89% |
11,423,142
+1,500,000
| +15% | +$15.6M |
2015 Q4
2 quarters
|
|
10
Element Solutions
ESI
$7.95B
| $128M | 1.71% |
14,431,671
| – | – |
2014 Q4
6 quarters
|
|
|
BEAV
11
DELISTED
B/E Aerospace Inc
BEAV
| $125M | 1.66% |
+2,703,259
| New | +$129M |
2016 Q2
0 quarters
|
|
12
Nomad Foods
NOMD
$1.65B
| $123M | 1.64% |
15,430,522
+175,376
| +1% | +$1.55M |
2016 Q1
1 quarter
|
|
|
13
Johnson Controls International
JCI
$85.5B
| $119M | 1.58% |
+2,558,200
| New | +$113M |
2016 Q2
0 quarters
|
|
14
DELISTED
Team Health Holdings Inc
TMH
| $112M | 1.5% |
2,763,309
+1,264,897
| +84% | +$55.2M |
2016 Q1
1 quarter
|
|
|
VER
15
DELISTED
VEREIT, Inc.
VER
| $107M | 1.42% |
2,107,438
-6,685,360
| -76% | -$315M |
2014 Q4
6 quarters
|
|
|
MDCO
16
DELISTED
Medicines Co
MDCO
| $104M | 1.38% |
3,086,803
| – | – |
2015 Q1
5 quarters
|
|
17
CALL
Energy Transfer Partners
ET
$66.9B
| $93.4M | 1.24% |
6,500,000
| – | – |
2015 Q4
2 quarters
|
|
|
18
Alphabet (Google) Class A
GOOGL
$3.53T
| $87.9M | 1.17% |
2,499,460
-4,708,540
| -65% | -$173M |
2015 Q4
2 quarters
|
|
|
MON
19
DELISTED
Monsanto Co
MON
| $76.3M | 1.02% |
+737,840
| New | +$73.1M |
2016 Q2
0 quarters
|
|
|
20
CALL
Ball Corp
BALL
$17.4B
| $72.3M | 0.96% |
+2,000,000
| New | +$72.4M |
2016 Q2
0 quarters
|
|
|
21
Bio-Rad Laboratories Class A
BIO
$10.4B
| $69.7M | 0.93% |
+487,254
| New | +$69.5M |
2016 Q2
0 quarters
|
|
|
AGN
22
CALL
DELISTED
Allergan plc
AGN
| $69.3M | 0.92% |
+300,000
| New | +$69.2M |
2016 Q2
0 quarters
|
|
|
EVHC
23
DELISTED
Envision Healthcare Holdings Inc
EVHC
| $60.7M | 0.81% |
+799,463
| New | +$56.8M |
2016 Q2
0 quarters
|
|
|
KSU
24
DELISTED
Kansas City Southern
KSU
| $55.4M | 0.74% |
+615,154
| New | +$56M |
2016 Q2
0 quarters
|
|
|
WWAV
25
DELISTED
The WhiteWave Foods Company
WWAV
| $48M | 0.64% |
+1,021,674
| New | +$43.9M |
2016 Q2
0 quarters
|
|
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Corvex Management's Q2 2016 Portfolio in Review
As of Q2 2016, Corvex Management held 39 positions worth $7.51B, up 24% from $6.05B the previous quarter. Its ten largest holdings account for 81% of the portfolio.
Corvex Management withdrew a net $391M in Q2 2016, closing 5 positions and reducing 3 holdings. Its most notable exit was Pfizer, an estimated $520M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 34% of assets, down from 44% a quarter earlier, followed by Miscellaneous and Energy.
Against the trend, Corvex Management opened a new position in B/E Aerospace Inc worth $125M.
- Corvex Management's largest Q2 2016 buy was B/E Aerospace Inc: 2,703,259 shares worth $125M.
- Corvex Management added most to Signet Jewelers in Q2 2016, an estimated $90.4M increase.
- Corvex Management's biggest Q2 2016 reduction was VEREIT, Inc., cutting an estimated $315M.
- Corvex Management fully exited Pfizer in Q2 2016, selling an estimated $520M.
- Corvex Management's ten largest holdings make up 81% of its $7.51B portfolio in Q2 2016.
- Corvex Management opened 18 new positions and closed 5 in Q2 2016.
- Corvex Management's portfolio value rose 24% quarter-over-quarter to $7.51B.
Based on Corvex Management's 13F filing for Q2 2016, filed 15 Aug 2016.