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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
-0.82%
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
$3.08B
AUM Growth
-$525M
(-15%)
Cap. Flow
-$715M
Cap. Flow % of AUM
Cap. Flow %
-23.23%
Top 10 Holdings %
Top 10 Hldgs %
69.09%
Holding
50
New
15
Increased
5
Reduced
6
Closed
15
Avg Time Held
Equity + Options
0.6
years
Top 10 Avg Time Held
Equity + Options
0.4
years
Top 20 Avg Time Held
Equity + Options
0.6
years
Avg Time Held Equity only
0.7
years
Top 10 Avg Time Held Equity only
0.6
years
Top 20 Avg Time Held Equity only
0.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lumen Technologies, Inc. Common Stock
LUMN
|
+$477M |
| 2 |
EGN
Energen
EGN
|
+$302M |
| 3 |
Signet Jewelers
SIG
|
+$86.8M |
| 4 |
TWX
Time Warner Inc
TWX
|
+$71.4M |
| 5 |
JetBlue
JBLU
|
+$67.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Yum! Brands
YUM
|
+$508M |
| 2 |
Yum China
YUMC
|
+$282M |
| 3 |
Ball Corp
BALL
|
+$197M |
| 4 |
Bio-Rad Laboratories Class A
BIO
|
+$184M |
| 5 |
Salesforce
CRM
|
+$107M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 36.32% |
| 2 | Miscellaneous | 15.48% |
| 3 | Energy | 13.52% |
| 4 | Consumer Staples | 7.16% |
| 5 | Consumer Discretionary | 6.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Lumen Technologies, Inc. Common Stock
LUMN
$4.22B
| $454M | 14.73% |
+18,998,645
| New | +$477M |
2017 Q2
0 quarters
|
|
|
EGN
2
DELISTED
Energen
EGN
| $346M | 11.22% |
6,998,186
+5,652,264
| +420% | +$302M |
2017 Q1
1 quarter
|
|
3
Nomad Foods
NOMD
$1.67B
| $221M | 7.16% |
15,630,522
-1,800,000
| -10% | -$23M |
2016 Q1
5 quarters
|
|
4
Alphabet (Google) Class A
GOOGL
$3.64T
| $213M | 6.92% |
4,582,280
+1,112,280
| +32% | +$52M |
2016 Q4
2 quarters
|
|
|
5
Signet Jewelers
SIG
$4.37B
| $203M | 6.6% |
3,213,758
+1,415,200
| +79% | +$86.8M |
2013 Q4
14 quarters
|
|
6
DELISTED
Pandora Media Inc
P
| $185M | 6.01% |
20,762,824
| – | – |
2015 Q4
6 quarters
|
|
7
CALL
Bank of America
BAC
$352B
| $146M | 4.73% |
6,000,000
+3,000,000
| +100% | +$69.9M |
2017 Q1
1 quarter
|
|
|
8
Bank of America
BAC
$352B
| $126M | 4.1% |
5,202,000
+620,000
| +14% | +$14.5M |
2016 Q3
3 quarters
|
|
9
Meta Platforms (Facebook)
META
$1.64T
| $123M | 4% |
817,000
-33,000
| -4% | -$4.91M |
2017 Q1
1 quarter
|
|
|
MDCO
10
DELISTED
Medicines Co
MDCO
| $112M | 3.63% |
2,944,060
-308,200
| -9% | -$13.7M |
2015 Q1
9 quarters
|
|
11
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$4.13B
| $112M | 3.63% |
+875,000
| New | +$120M |
2017 Q2
0 quarters
|
|
12
Element Solutions
ESI
$8.03B
| $101M | 3.28% |
7,959,074
-2,670,556
| -25% | -$34.9M |
2014 Q4
10 quarters
|
|
|
TWX
13
DELISTED
Time Warner Inc
TWX
| $72.4M | 2.35% |
+720,671
| New | +$71.4M |
2017 Q2
0 quarters
|
|
|
ZAYO
14
DELISTED
Zayo Group Holdings, Inc.
ZAYO
| $71.2M | 2.31% |
2,303,070
| – | – |
2016 Q2
4 quarters
|
|
|
15
JetBlue
JBLU
$1.42B
| $70.6M | 2.29% |
+3,090,417
| New | +$67.9M |
2017 Q2
0 quarters
|
|
16
FedEx
FDX
$75.9B
| $64M | 2.08% |
+294,631
| New | +$58.2M |
2017 Q2
0 quarters
|
|
17
CALL
T-Mobile US
TMUS
$180B
| $60.6M | 1.97% |
+1,000,000
| New | +$65.1M |
2017 Q2
0 quarters
|
|
|
EVHC
18
CALL
DELISTED
Envision Healthcare Holdings Inc
EVHC
| $59.5M | 1.93% |
+950,000
| New | +$54.7M |
2017 Q2
0 quarters
|
|
|
EVHC
19
DELISTED
Envision Healthcare Holdings Inc
EVHC
| $57.4M | 1.86% |
916,315
| – | – |
2016 Q2
4 quarters
|
|
20
Plains GP Holdings
PAGP
$5.22B
| $49.5M | 1.61% |
1,892,494
| – | – |
2017 Q1
1 quarter
|
|
|
CLGX
21
DELISTED
Corelogic, Inc.
CLGX
| $48.8M | 1.59% |
1,125,913
| – | – |
2017 Q1
1 quarter
|
|
22
Regions Financial
RF
$24.5B
| $27.9M | 0.91% |
1,908,066
-1,700,000
| -47% | -$23.9M |
2017 Q1
1 quarter
|
|
|
SBNY
23
DELISTED
Signature Bank
SBNY
| $23M | 0.75% |
+160,476
| New | +$22.8M |
2017 Q2
0 quarters
|
|
24
Peabody Energy
BTU
$2.12B
| $21.5M | 0.7% |
+880,044
| New | +$21.8M |
2017 Q2
0 quarters
|
|
|
EGN
25
CALL
DELISTED
Energen
EGN
| $20.5M | 0.67% |
+415,200
| New | +$22.2M |
2017 Q2
0 quarters
|
|
Similar funds
SCM
Corvex Management's Q2 2017 Portfolio in Review
As of Q2 2017, Corvex Management held 50 positions worth $3.08B, down 15% from $3.6B the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Corvex Management withdrew a net $715M in Q2 2017, closing 15 positions and reducing 6 holdings. Its most notable exit was Yum! Brands, an estimated $508M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 36% of assets, up from 16% a quarter earlier, followed by Miscellaneous and Energy.
Against the trend, Corvex Management opened a new position in Lumen Technologies, Inc. Common Stock worth $454M.
- Corvex Management's largest Q2 2017 buy was Lumen Technologies, Inc. Common Stock: 18,998,645 shares worth $454M.
- Corvex Management added most to Energen in Q2 2017, an estimated $302M increase.
- Corvex Management's biggest Q2 2017 reduction was Bio-Rad Laboratories Class A, cutting an estimated $184M.
- Corvex Management fully exited Yum! Brands in Q2 2017, selling an estimated $508M.
- Corvex Management's ten largest holdings make up 69% of its $3.08B portfolio in Q2 2017.
- Corvex Management opened 15 new positions and closed 15 in Q2 2017.
- Corvex Management's portfolio value fell 15% quarter-over-quarter to $3.08B.
Based on Corvex Management's 13F filing for Q2 2017, filed 14 Aug 2017.