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Corvex Management Portfolio holdings

AUM $3.27B
1-Year Est. Return 38.53%
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
Cap. Flow
-$391M
Cap. Flow %
-5.21%
Top 10 Hldgs %
80.66%
Holding
39
New
18
Increased
6
Reduced
3
Closed
5

Top Buys

Rank Stock Value
1
BEAV
B/E Aerospace Inc
BEAV
+$129M
2
JCI icon
Johnson Controls International
JCI
+$113M
3
SIG icon
Signet Jewelers
SIG
+$90.4M
4
MON
Monsanto Co
MON
+$73.1M
5
BIO icon
Bio-Rad Laboratories Class A
BIO
+$69.5M

Top Sells

Rank Stock Value
1
PFE icon
Pfizer
PFE
+$520M
2
VER
VEREIT, Inc.
VER
+$315M
3
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$173M
4
EQC
Equity Commonwealth
EQC
+$111M
5
BHC icon
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
YUM icon
1
Yum! Brands
YUM
$41.1B
$1.74B 23.24%
29,266,911
– –
IWM icon
2
PUT
iShares Russell 2000 ETF
IWM
$80.5B
$920M 12.25%
+8,000,000
New +$903M
WMB icon
3
Williams Companies
WMB
$90.7B
$902M 12.01%
41,682,960
– –
FNF icon
4
Fidelity National Financial
FNF
$12.3B
$706M 9.4%
27,104,190
-446,388
-2% -$10.5M
SIG icon
5
Signet Jewelers
SIG
$3.31B
$562M 7.49%
6,823,414
+889,883
+15% +$90.4M
QQQ icon
6
PUT
Invesco QQQ Trust
QQQ
$490B
$538M 7.16%
+5,000,000
New +$540M
BALL icon
7
Ball Corp
BALL
$16.6B
$250M 3.33%
6,916,326
+1,804,412
+35% +$65.3M
VISN
8
Vistance Networks Inc
VISN
$1.48B
$163M 2.17%
5,258,258
+250,000
+5% +$7.42M
P
9
DELISTED
Pandora Media Inc
P
$142M 1.89%
11,423,142
+1,500,000
+15% +$15.6M
ESI icon
10
Element Solutions
ESI
$8.78B
$128M 1.71%
14,431,671
– –
BEAV
11
DELISTED
B/E Aerospace Inc
BEAV
$125M 1.66%
+2,703,259
New +$129M
NOMD icon
12
Nomad Foods
NOMD
$1.63B
$123M 1.64%
15,430,522
+175,376
+1% +$1.55M
JCI icon
13
Johnson Controls International
JCI
$87.8B
$119M 1.58%
+2,558,200
New +$113M
TMH
14
DELISTED
Team Health Holdings Inc
TMH
$112M 1.5%
2,763,309
+1,264,897
+84% +$55.2M
VER
15
DELISTED
VEREIT, Inc.
VER
$107M 1.42%
2,107,438
-6,685,360
-76% -$315M
MDCO
16
DELISTED
Medicines Co
MDCO
$104M 1.38%
3,086,803
– –
ET icon
17
CALL
Energy Transfer Partners
ET
$74B
$93.4M 1.24%
6,500,000
– –
GOOGL icon
18
Alphabet (Google) Class A
GOOGL
$4.14T
$87.9M 1.17%
2,499,460
-4,708,540
-65% -$173M
MON
19
DELISTED
Monsanto Co
MON
$76.3M 1.02%
+737,840
New +$73.1M
BALL icon
20
CALL
Ball Corp
BALL
$16.6B
$72.3M 0.96%
+2,000,000
New +$72.4M
BIO icon
21
Bio-Rad Laboratories Class A
BIO
$10.3B
$69.7M 0.93%
+487,254
New +$69.5M
AGN
22
CALL
DELISTED
Allergan plc
AGN
$69.3M 0.92%
+300,000
New +$69.2M
EVHC
23
DELISTED
Envision Healthcare Holdings Inc
EVHC
$60.7M 0.81%
+799,463
New +$56.8M
KSU
24
DELISTED
Kansas City Southern
KSU
$55.4M 0.74%
+615,154
New +$56M
WWAV
25
DELISTED
The WhiteWave Foods Company
WWAV
$48M 0.64%
+1,021,674
New +$43.9M
1
2

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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.