CM

Corvex Management Portfolio holdings

AUM $3.27B Turnover 38.71%
1-Year Est. Return 38.53%
This Fund
S&P 500
This Quarter Est. Return
+9.96%
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
$5.34B
AUM Growth
-$2.17B
Cap. Flow
-$935M
Cap. Flow %
-17.51%
Top 10 Hldgs %
83.55%
Holding
42
New
8
Increased
8
Reduced
5
Closed
12
Avg Time Held Equity + Options
0.7 years
Top 10 Avg Time Held Equity + Options
1.2 years
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
1.2 years
Top 20 Avg Time Held Equity only
0.9 years

Top Buys

Rank Stock Value
1
CCEP icon
Coca-Cola Europacific Partners
CCEP
+$67.5M
2
HAIN icon
Hain Celestial
HAIN
+$63.3M
3
JPM icon
JPMorgan Chase
JPM
+$62M
4
ZAYO
Zayo Group Holdings, Inc.
ZAYO
+$43.9M
5
TMUS icon
T-Mobile US
TMUS
+$39.7M

Top Sells

Rank Stock Value
1
WMB icon
Williams Companies
WMB
+$612M
2
FNF icon
Fidelity National Financial
FNF
+$300M
3
VER
VEREIT, Inc.
VER
+$107M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$87.9M
5
MON
Monsanto Co
MON
+$77.4M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 50.31%
2 Energy 11.25%
3 Financials 9.33%
4 Healthcare 7.03%
5 Consumer Staples 5.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
YUM icon
1
Yum! Brands
YUM
$40B
$1.91B 35.79%
29,266,911
– –
2015 Q1
6 quarters
WMB icon
2
Williams Companies
WMB
$89B
$572M 10.72%
18,628,954
-23,054,006
-55% -$612M
2013 Q2
13 quarters
SIG icon
3
Signet Jewelers
SIG
$4.14B
$516M 9.66%
6,918,614
+95,200
+1% +$8.05M
2013 Q4
11 quarters
FNF icon
4
Fidelity National Financial
FNF
$10.5B
$397M 7.45%
15,512,192
-11,591,998
-43% -$300M
2013 Q3
12 quarters
BALL icon
5
Ball Corp
BALL
$16B
$259M 4.86%
6,332,372
-583,954
-8% -$22.3M
2015 Q2
5 quarters
NOMD icon
6
Nomad Foods
NOMD
$1.58B
$182M 3.42%
15,430,522
– –
2016 Q1
2 quarters
VISN icon
7
Vistance Networks Inc
VISN
$1.36B
$169M 3.17%
5,624,914
+366,656
+7% +$11.1M
2015 Q4
3 quarters
P icon
8
DELISTED
Pandora Media Inc
P
$164M 3.07%
11,423,142
– –
2015 Q4
3 quarters
ESI icon
9
Element Solutions
ESI
$8.74B
$151M 2.84%
18,674,095
+4,242,424
+29% +$37.9M
2014 Q4
7 quarters
JCI icon
10
Johnson Controls International
JCI
$92.3B
$138M 2.58%
2,963,352
+405,152
+16% +$18.8M
2016 Q2
1 quarter
MDCO
11
DELISTED
Medicines Co
MDCO
$116M 2.18%
3,086,803
– –
2015 Q1
6 quarters
TMH icon
12
DELISTED
Team Health Holdings Inc
TMH
$102M 1.9%
3,118,806
+355,497
+13% +$13.1M
2016 Q1
2 quarters
BIO icon
13
Bio-Rad Laboratories Class A
BIO
$9.69B
$79.8M 1.5%
487,254
– –
2016 Q2
1 quarter
CCEP icon
14
Coca-Cola Europacific Partners
CCEP
$47.1B
$70.6M 1.32%
+1,769,661
New +$67.5M
2016 Q3
0 quarters
BEAV
15
DELISTED
B/E Aerospace Inc
BEAV
$65.7M 1.23%
1,272,522
-1,430,737
-53% -$69.2M
2016 Q2
1 quarter
JPM icon
16
JPMorgan Chase
JPM
$890B
$63.3M 1.19%
+950,750
New +$62M
2016 Q3
0 quarters
EVHC
17
DELISTED
Envision Healthcare Holdings Inc
EVHC
$61.1M 1.14%
916,316
+116,853
+15% +$8.05M
2016 Q2
1 quarter
HAIN icon
18
Hain Celestial
HAIN
$52.5M
$51.4M 0.96%
+1,443,585
New +$63.3M
2016 Q3
0 quarters
ZAYO
19
DELISTED
Zayo Group Holdings, Inc.
ZAYO
$48.4M 0.91%
1,628,775
+1,516,405
+1,349% +$43.9M
2016 Q2
1 quarter
TMUS icon
20
T-Mobile US
TMUS
$169B
$40.4M 0.76%
+863,865
New +$39.7M
2016 Q3
0 quarters
BAC icon
21
Bank of America
BAC
$359B
$37.1M 0.69%
+2,370,000
New +$35.3M
2016 Q3
0 quarters
CSOD
22
DELISTED
Cornerstone OnDemand, Inc.
CSOD
$34.6M 0.65%
+753,933
New +$33M
2016 Q3
0 quarters
MPC icon
23
Marathon Petroleum
MPC
$136B
$28.4M 0.53%
700,000
+122,000
+21% +$4.95M
2016 Q2
1 quarter
ET icon
24
CALL
Energy Transfer Partners
ET
$69.7B
$16.8M 0.31%
1,000,000
-5,500,000
-85% -$92.9M
2015 Q4
3 quarters
JPM icon
25
CALL
JPMorgan Chase
JPM
$890B
$16.6M 0.31%
+250,000
New +$16.3M
2016 Q3
0 quarters
1
2

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Corvex Management's Q3 2016 Portfolio in Review

As of Q3 2016, Corvex Management held 42 positions worth $5.34B, down 29% from $7.51B the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Corvex Management withdrew a net $935M in Q3 2016, closing 12 positions and reducing 5 holdings. Its most notable exit was VEREIT, Inc., an estimated $107M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 50% of assets, up from 34% a quarter earlier, followed by Energy and Financials.

Against the trend, Corvex Management opened a new position in Coca-Cola Europacific Partners worth $70.6M.

  • Corvex Management's largest Q3 2016 buy was Coca-Cola Europacific Partners: 1,769,661 shares worth $70.6M.
  • Corvex Management added most to Zayo Group Holdings, Inc. in Q3 2016, an estimated $43.9M increase.
  • Corvex Management's biggest Q3 2016 reduction was Williams Companies, cutting an estimated $612M.
  • Corvex Management fully exited VEREIT, Inc. in Q3 2016, selling an estimated $107M.
  • Corvex Management's ten largest holdings make up 84% of its $5.34B portfolio in Q3 2016.
  • Corvex Management opened 8 new positions and closed 12 in Q3 2016.
  • Corvex Management's portfolio value fell 29% quarter-over-quarter to $5.34B.

Based on Corvex Management's 13F filing for Q3 2016, filed 14 Nov 2016.