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Corvex Management Portfolio holdings

AUM $2.52B
1-Year Est. Return 25.53%
This Fund
S&P 500
This Quarter Est. Return
-3.52%
1 Year Est. Return
+25.53%
3 Year Est. Return
+64.15%
5 Year Est. Return
+76.52%
10 Year Est. Return
+305.53%
AUM
$2.66B
AUM Growth
-$421M
Cap. Flow
-$321M
Cap. Flow %
-12.06%
Top 10 Hldgs %
82.96%
Holding
41
New
6
Increased
6
Reduced
8
Closed
14

Top Buys

Rank Stock Value
1
EVHC
Envision Healthcare Holdings Inc
EVHC
+$250M
2
EGN
Energen
EGN
+$142M
3
CMCSA icon
Comcast
CMCSA
+$96.5M
4
LUMN icon
Lumen
LUMN
+$60M
5
BAC icon
Bank of America
BAC
+$44M

Top Sells

Rank Stock Value
1
SIG icon
Signet Jewelers
SIG
+$177M
2
ESI icon
Element Solutions
ESI
+$101M
3
P
Pandora Media Inc
P
+$80.3M
4
TWX
Time Warner Inc
TWX
+$72.4M
5
ZAYO
Zayo Group Holdings, Inc.
ZAYO
+$71.2M

Sector Composition

Rank Sector Weight
1 Communication Services 35.96%
2 Energy 22.44%
3 Healthcare 9.49%
4 Consumer Staples 7.91%
5 Financials 7.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EGN
1
DELISTED
Energen
EGN
$535M 20.13%
9,790,768
+2,792,582
+40% +$142M
LUMN icon
2
Lumen
LUMN
$6.57B
$413M 15.53%
21,849,476
+2,850,831
+15% +$60M
EVHC
3
DELISTED
Envision Healthcare Holdings Inc
EVHC
$252M 9.49%
5,612,298
+4,695,983
+512% +$250M
NOMD icon
4
Nomad Foods
NOMD
$1.66B
$210M 7.91%
14,442,709
-1,187,813
-8% -$17.3M
GOOGL icon
5
Alphabet (Google) Class A
GOOGL
$4.3T
$199M 7.48%
4,083,280
-499,000
-11% -$23.7M
BAC icon
6
Bank of America
BAC
$424B
$178M 6.69%
7,017,000
+1,815,000
+35% +$44M
META icon
7
Meta Platforms (Facebook)
META
$1.64T
$142M 5.33%
829,000
+12,000
+1% +$2M
CMCSA icon
8
Comcast
CMCSA
$84.9B
$94.3M 3.55%
+2,450,000
New +$96.5M
SMH icon
9
PUT
VanEck Semiconductor ETF
SMH
$67.3B
$93.3M 3.51%
+2,000,000
New +$87.4M
MDCO
10
DELISTED
Medicines Co
MDCO
$89.3M 3.36%
2,410,833
-533,227
-18% -$19.7M
P
11
DELISTED
Pandora Media Inc
P
$87.9M 3.3%
11,412,824
-9,350,000
-45% -$80.3M
XOP icon
12
PUT
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.34B
$68.2M 2.56%
500,000
-375,000
-43% -$47M
TMUS icon
13
CALL
T-Mobile US
TMUS
$212B
$61.7M 2.32%
1,000,000
– –
PAGP icon
14
Plains GP Holdings
PAGP
$5.13B
$61.4M 2.31%
2,809,624
+917,130
+48% +$21.8M
SIG icon
15
Signet Jewelers
SIG
$3.51B
$22.3M 0.84%
335,052
-2,878,706
-90% -$177M
TMUS icon
16
T-Mobile US
TMUS
$212B
$20.8M 0.78%
+337,665
New +$21.2M
JBLU icon
17
CALL
JetBlue
JBLU
$2.03B
$18.5M 0.7%
+1,000,000
New +$21M
JBLU icon
18
JetBlue
JBLU
$2.03B
$17.4M 0.66%
941,742
-2,148,675
-70% -$45M
ET icon
19
CALL
Energy Transfer Partners
ET
$69.8B
$17.4M 0.65%
1,000,000
– –
LCAHU
20
DELISTED
Landcadia Holdings, Inc. Unit
LCAHU
$13.2M 0.49%
1,225,000
– –
EVHC
21
CALL
DELISTED
Envision Healthcare Holdings Inc
EVHC
$12.2M 0.46%
271,600
-678,400
-71% -$36.2M
FG
22
DELISTED
FGL Holdings Ordinary Shares
FG
$11.2M 0.42%
1,000,000
– –
OSPRU
23
DELISTED
Osprey Energy Acquisition Corp. Unit
OSPRU
$9.93M 0.37%
+1,000,000
New +$10M
SPY icon
24
State Street SPDR S&P 500 ETF Trust
SPY
$781B
$9.5M 0.36%
+37,821
New +$9.32M
CFCOW
25
DELISTED
CF Corporation
CFCOW
$1.05M 0.04%
500,000
– –
1
2

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Corvex Management's Q3 2017 Portfolio in Review

As of Q3 2017, Corvex Management held 41 positions worth $2.66B, down 14% from $3.08B the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Corvex Management withdrew a net $321M in Q3 2017, closing 14 positions and reducing 8 holdings. Its most notable exit was Element Solutions, an estimated $101M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 36% of assets, up from 34% a quarter earlier, followed by Energy and Healthcare.

Against the trend, Corvex Management opened a new position in Comcast worth $94.3M.

  • Corvex Management's largest Q3 2017 buy was Comcast: 2,450,000 shares worth $94.3M.
  • Corvex Management added most to Envision Healthcare Holdings Inc in Q3 2017, an estimated $250M increase.
  • Corvex Management's biggest Q3 2017 reduction was Signet Jewelers, cutting an estimated $177M.
  • Corvex Management fully exited Element Solutions in Q3 2017, selling an estimated $101M.
  • Corvex Management's ten largest holdings make up 83% of its $2.66B portfolio in Q3 2017.
  • Corvex Management opened 6 new positions and closed 14 in Q3 2017.
  • Corvex Management's portfolio value fell 14% quarter-over-quarter to $2.66B.

Based on Corvex Management's 13F filing for Q3 2017, filed 14 Nov 2017.