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
+5.93%
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
$3.6B
AUM Growth
-$2.24B
Cap. Flow
-$1.95B
Cap. Flow %
-53.98%
Top 10 Hldgs %
59.85%
Holding
53
New
13
Increased
6
Reduced
9
Closed
18
Avg Time Held Equity + Options
0.6 years
Top 10 Avg Time Held Equity + Options
0.6 years
Top 20 Avg Time Held Equity + Options
0.7 years
Avg Time Held Equity only
0.7 years
Top 10 Avg Time Held Equity only
0.7 years
Top 20 Avg Time Held Equity only
0.8 years

Top Buys

Rank Stock Value
1
P icon
Pandora Media Inc
P
+$114M
2
META icon
Meta Platforms (Facebook)
META
+$114M
3
PX icon
Praxair Inc
PX
+$104M
4
CL icon
Colgate-Palmolive
CL
+$99.7M
5
EGN
Energen
EGN
+$72.8M

Top Sells

Rank Stock Value
1
YUM icon
Yum! Brands
YUM
+$852M
2
WMB icon
Williams Companies
WMB
+$440M
3
TMUS icon
T-Mobile US
TMUS
+$180M
4
CRM icon
Salesforce
CRM
+$172M
5
FNF icon
Fidelity National Financial
FNF
+$167M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 32.8%
2 Communication Services 16.33%
3 Healthcare 14.48%
4 Consumer Staples 8.43%
5 Miscellaneous 7.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
YUM icon
1
Yum! Brands
YUM
$40B
$508M 14.09%
7,950,654
-13,089,541
-62% -$852M
2015 Q1
8 quarters
YUMC icon
2
Yum China
YUMC
$14.6B
$282M 7.81%
10,352,967
-4,280,130
-29% -$114M
2016 Q4
1 quarter
P icon
3
DELISTED
Pandora Media Inc
P
$245M 6.8%
20,762,824
+9,114,682
+78% +$114M
2015 Q4
5 quarters
NOMD icon
4
Nomad Foods
NOMD
$1.58B
$200M 5.54%
17,430,522
– –
2016 Q1
4 quarters
BALL icon
5
Ball Corp
BALL
$16B
$185M 5.14%
4,987,768
-869,488
-15% -$32.5M
2015 Q2
7 quarters
BIO icon
6
Bio-Rad Laboratories Class A
BIO
$9.69B
$169M 4.68%
847,141
+359,887
+74% +$69.3M
2016 Q2
3 quarters
MDCO
7
DELISTED
Medicines Co
MDCO
$159M 4.41%
3,252,260
+20,000
+0.6% +$912K
2015 Q1
8 quarters
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$4.25T
$147M 4.08%
3,470,000
– –
2016 Q4
1 quarter
ESI icon
9
Element Solutions
ESI
$8.73B
$138M 3.84%
10,629,630
-6,069,995
-36% -$74.7M
2014 Q4
9 quarters
SIG icon
10
Signet Jewelers
SIG
$4.13B
$125M 3.46%
1,798,558
-1,108,532
-38% -$82.9M
2013 Q4
13 quarters
META icon
11
Meta Platforms (Facebook)
META
$1.88T
$121M 3.35%
+850,000
New +$114M
2017 Q1
0 quarters
BAC icon
12
Bank of America
BAC
$359B
$108M 3%
4,582,000
-4,885,000
-52% -$116M
2016 Q3
2 quarters
CRM icon
13
Salesforce
CRM
$194B
$107M 2.96%
1,294,900
-2,159,083
-63% -$172M
2016 Q4
1 quarter
PX icon
14
DELISTED
Praxair Inc
PX
$105M 2.91%
+886,015
New +$104M
2017 Q1
0 quarters
CL icon
15
Colgate-Palmolive
CL
$74B
$104M 2.89%
+1,423,798
New +$99.7M
2017 Q1
0 quarters
HUM icon
16
Humana
HUM
$51.4B
$90M 2.5%
436,769
+328,844
+305% +$68M
2016 Q4
1 quarter
ZAYO
17
DELISTED
Zayo Group Holdings, Inc.
ZAYO
$75.8M 2.1%
2,303,070
+674,295
+41% +$21.5M
2016 Q2
3 quarters
EGN
18
DELISTED
Energen
EGN
$73.3M 2.03%
+1,345,922
New +$72.8M
2017 Q1
0 quarters
CL icon
19
CALL
Colgate-Palmolive
CL
$74B
$73.2M 2.03%
+1,000,000
New +$70M
2017 Q1
0 quarters
BAC icon
20
CALL
Bank of America
BAC
$359B
$70.8M 1.96%
+3,000,000
New +$71.2M
2017 Q1
0 quarters
ETFC
21
DELISTED
E*Trade Financial Corporation
ETFC
$60.3M 1.67%
1,728,520
+968,831
+128% +$34.7M
2016 Q4
1 quarter
PAGP icon
22
Plains GP Holdings
PAGP
$5.37B
$59.2M 1.64%
+1,892,494
New +$61.5M
2017 Q1
0 quarters
JACK icon
23
Jack in the Box
JACK
$226M
$57.3M 1.59%
+562,972
New +$58.3M
2017 Q1
0 quarters
EVHC
24
DELISTED
Envision Healthcare Holdings Inc
EVHC
$56.2M 1.56%
916,315
– –
2016 Q2
3 quarters
RF icon
25
Regions Financial
RF
$22.9B
$52.4M 1.45%
+3,608,066
New +$53.2M
2017 Q1
0 quarters
1
2 3

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Corvex Management's Q1 2017 Portfolio in Review

As of Q1 2017, Corvex Management held 53 positions worth $3.6B, down 38% from $5.85B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Corvex Management withdrew a net $1.95B in Q1 2017, closing 18 positions and reducing 9 holdings. Its most notable exit was Williams Companies, an estimated $440M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, down from 38% a quarter earlier, followed by Communication Services and Healthcare.

Against the trend, Corvex Management opened a new position in Meta Platforms (Facebook) worth $121M.

  • Corvex Management's largest Q1 2017 buy was Meta Platforms (Facebook): 850,000 shares worth $121M.
  • Corvex Management added most to Pandora Media Inc in Q1 2017, an estimated $114M increase.
  • Corvex Management's biggest Q1 2017 reduction was Yum! Brands, cutting an estimated $852M.
  • Corvex Management fully exited Williams Companies in Q1 2017, selling an estimated $440M.
  • Corvex Management's ten largest holdings make up 60% of its $3.6B portfolio in Q1 2017.
  • Corvex Management opened 13 new positions and closed 18 in Q1 2017.
  • Corvex Management's portfolio value fell 38% quarter-over-quarter to $3.6B.

Based on Corvex Management's 13F filing for Q1 2017, filed 15 May 2017.