WhaleCreep

Corvex Management LP 13F holdings, Q4 2012

Hedge fundSEC filingsCompare with another fundHoldings as of 2012-12-31, filed 2013-02-14

Corvex Management LP disclosed 40 US equity positions worth $1.9bn in its Q4 2012 13F filing. Its largest position is ADT at 27.1% of the reported book, followed by WMB and CBS CORP NEW. Versus Q3 2012 it opened 18 new positions, added to 5, reduced 13 and exited 17.

$1.9bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
40
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
27.1%
Largest position
The largest single position as a share of the reported equity book.
67.1%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
10
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
59
Quarters on file since Q4 2011
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2012: 18 new, 5 added, 13 reduced, 17 exited

40 rows
ADT THE ADT CORPORATIONIndustrials27.1%$519m11.17m–new
WMB WILLIAMS COS INCEnergy6.1%$117m3.56m+213%added
CBS CORP NEW no ticker–6.1%$116m3.05m–new
APC3EUR ANADARKO PETE CORP–5.6%$106m1.43m−19%reduced
CORRECTIONS CORP AMER NEW no ticker–5.3%$102m2.88m−39%reduced
JPM JPMORGAN CHASE & COFinancial Services4.5%$86.4m1.97m+131%added
FCX FREEPORT MCMORAN INCBasic Materials3.3%$62.4m1.82m–new
NOVEUR NATIONAL OILWELL VARCO INC–3.2%$61.5m900,000–new
EXPRESS SCRIPTS HLDG CO no ticker–3.0%$56.6m1.05m−25%reduced
AIG American International GroupFinancial Services2.9%$55.4m1.57m+23%added
AAPL APPLE INCTechnology2.8%$53.3m100,000–new
TW TELECOM INC no ticker–2.7%$52.4m2.06m+1568%added
RALCORP HLDGS INC NEW no ticker–2.5%$47.1m525,000−82%reduced
LEVEL 3 COMMUNICATIONS INC no ticker–2.4%$46.2m2.00m–new
COCA COLA ENTERPRISES INC NE no ticker–2.0%$37.6m1.19m–new
LEA LEAR CORPConsumer Cyclical1.6%$30.7m655,000–new
TYCO INTERNATIONAL LTD no ticker–1.6%$30.4m1.04m−58%reduced
SBAC SBA COMMUNICATIONS CORPReal Estate1.5%$28.9m406,848−38%reduced
ROCKWOOD HLDGS INC no ticker–1.4%$27.2m550,000–new
LAMAR ADVERTISING CO no ticker–1.3%$25.3m653,400−37%reduced
XLF SELECT SECTOR SPDR TR–1.3%$24.6m1.50m–new
AAP ADVANCE AUTO PARTS INCConsumer Cyclical1.2%$23.5m325,000–new
HES HESS CORP–1.1%$21.2m400,000−65%reduced
CNC CENTENE CORP DELHealthcare1.0%$19.4m473,766−28%reduced
VRSN VERISIGN INCTechnology1.0%$19.4m500,000−34%reduced
DIRECTV no ticker–1.0%$18.4m365,907−17%reduced
PSX PHILLIPS 66Energy0.9%$17.1m321,531–new
RHP RYMAN HOSPITALITY PPTYS INCReal Estate0.8%$15.9m413,000–new
HARRY WINSTON DIAMOND CORP no ticker–0.6%$11.3m800,000−27%reduced
GPN GLOBAL PMTS INCIndustrials0.6%$10.7m236,322−79%reduced
MOLINA HEALTHCARE INC no ticker–0.5%$9.9m8.50m0.0%held
HEALTH MGMT ASSOC INC NEW no ticker–0.5%$9.6m1.03m–new
NWL NEWELL BRANDS INCConsumer Defensive0.5%$8.9m400,0000.0%held
CHKEUR CHESAPEAKE ENERGY CORP–0.4%$8.3m500,0000.0%held
QEP QEP RESOURCES INC–0.4%$7.6m250,000–new
FIFTH & PAC COS INC no ticker–0.3%$6.2m500,000–new
LIBERTY MEDIA CORPORATION LIB CAP no ticker–0.3%$5.8m50,000–new
LONE PINE RES INC no ticker–0.3%$4.8m3.90m+2.6%added
SEMGUSD SEMGROUP CORP–0.2%$4.4m113,3170.0%held
A AGILENT TECHNOLOGIES INCHealthcare0.2%$4.1m100,000–new

Exited since Q3 2012

17 rows
IWM ISHARES TR25.7%$480m
BMC SOFTWARE INC no ticker3.9%$73.1m
GAYLORD ENTMT CO NEW no ticker1.6%$29.6m
ARMOUR RESIDENTIAL REIT INC no ticker1.5%$27.1m
CYS INVTS INC no ticker0.7%$13.4m
INTEROIL CORP no ticker0.6%$11.6m
SENSATA TECHNOLOGIES HLDG NV no ticker0.6%$11.3m
AMT AMERICAN TOWER CORP0.5%$8.8m
WMCUSD WESTERN ASSET MTG CAP CORP0.4%$7.8m
HERTZ GLOBAL HOLDINGS INC no ticker0.4%$7.6m
ANCESTRY no ticker0.4%$7.5m
DUN & BRADSTREET CORP DEL NE no ticker0.4%$7.2m
DOLLAR THRIFTY AUTOMOTIVE GP no ticker0.3%$6.5m
NEXEN INC no ticker0.3%$5.1m
YAHOO INC no ticker0.2%$2.9m
GENERAL GROWTH PPTYS INC NEW no ticker0.1%$1.9m
PLAINS EXPL& PRODTN CO no ticker0.1%$1.9m

Sector mix

  • Unclassified44.0%
  • Industrials27.7%
  • Financial Services7.4%
  • Energy7.0%
  • Technology3.8%
  • Basic Materials3.3%
  • Consumer Cyclical2.8%
  • Real Estate2.3%
  • Healthcare1.2%
  • Consumer Defensive0.5%

Book over time

Every quarter on file (59)
QuarterPositionsEquity book
Q2 202623$3.2bn
Q1 202625$2.5bn
Q4 202524$3.0bn
Q3 202528$2.8bn
Q2 202530$2.4bn
Q1 202532$2.6bn
Q4 202434$2.7bn
Q3 202430$2.4bn
Q2 202433$2.1bn
Q1 202432$2.0bn
Q4 202331$1.9bn
Q3 202334$1.8bn
Q2 202331$1.8bn
Q1 202331$1.7bn
Q4 202228$1.5bn
Q3 202232$1.6bn
Q2 202233$1.5bn
Q1 202228$1.4bn
Q4 202130$2.1bn
Q3 202132$2.3bn
Q2 202134$2.2bn
Q1 202144$2.0bn
Q4 202034$2.1bn
Q3 202031$1.6bn
Q2 202025$1.4bn
Q1 202025$948m
Q4 201913$1.4bn
Q3 201922$1.5bn
Q2 201926$1.5bn
Q1 201921$1.2bn
Q4 201816$1.1bn
Q3 201825$1.9bn
Q2 201827$1.9bn
Q1 201824$1.8bn
Q4 201720$1.9bn
Q3 201721$2.4bn
Q2 201727$2.6bn
Q1 201731$3.4bn
Q4 201635$5.1bn
Q3 201627$5.3bn
Q2 201626$5.8bn
Q1 201620$6.0bn
Q4 201524$6.8bn
Q3 201530$8.0bn
Q2 201538$9.0bn
Q1 201535$7.5bn
Q4 201428$7.1bn
Q3 201436$7.2bn
Q2 201435$7.2bn
Q1 201445$6.4bn
Q4 201341$4.0bn
Q3 201346$4.3bn
Q2 201341$3.8bn
Q1 201336$2.6bn
Q4 201240$1.9bn
Q3 201239$1.9bn
Q2 201228$1.4bn
Q1 201234$1.1bn
Q4 201125$421m

Where Corvex Management LP was early

63 rows
CBRE CBRE GROUP INCQ1 20123 of 1581.7%1.7%2Exited by Q3 2012−18%
HES HESS CORPQ1 20124 of 1556.8%6.8%4Exited by Q1 2013−10%
FXI ISHARES TR FTSE CHINA25 IDXQ1 20126 of 1351.2%3.7%2Exited by Q3 2012−8.2%
SBAC SBA COMMUNICATIONS CORPQ1 20126 of 1514.3%4.6%9Exited by Q4 2014+118%
WMB WILLIAMS COS INC DELQ1 20129 of 2070.4%33.9%19Exited by Q1 2017+1.1%
IWM ISHARES TRQ1 201210 of 23318.0%25.7%9Exited by Q2 2026+199%
CNC CENTENE CORP DELQ3 20122 of 1961.3%4.8%5Exited by Q3 2020+580%
GPN GLOBAL PMTS INCQ3 20124 of 1892.5%2.5%5Exited by Q2 2021+864%
AIG AMERICAN INTL GROUP INCQ3 201214 of 1552.2%2.9%2Exited by Q1 2013+7.6%
JPM JPMORGAN CHASE & COQ3 201214 of 2311.8%4.5%16Exited by Q4 2022+158%
LEA LEAR CORPQ4 20122 of 1211.6%3.8%2Exited by Q2 2013+17%
PSX PHILLIPS 66Q4 20124 of 1610.9%3.0%6Exited by Q2 2014+45%
FCX FREEPORT-MCMORAN COPPER & GOQ4 20129 of 2233.3%3.3%2Exited by Q2 2013−3.2%
AAPL APPLE INCQ4 201228 of 2752.8%2.8%3Exited by Q4 2023+801%
OXY OCCIDENTAL PETE CORP DELQ1 20133 of 1921.8%1.8%2Exited by Q3 2013+14%
HUN HUNTSMAN CORPQ1 20135 of 1431.0%1.7%4Exited by Q2 2015+19%
EVTC EVERTEC INCQ2 20131 of 861.3%1.6%6Exited by Q4 2014+1.7%
STZ CONSTELLATION BRANDS INCQ2 20132 of 1645.5%5.5%2Exited by Q4 2013+10%
DG DOLLAR GEN CORP NEWQ2 20135 of 1873.8%4.1%7Exited by Q1 2015+40%
TMO THERMO FISHER SCIENTIFIC INCQ2 201312 of 2346.1%7.6%4Exited by Q2 2014+42%
QCOM QUALCOMM INCQ2 201319 of 2461.6%1.8%2Exited by Q4 2013+10%
NXST NEXSTAR BROADCASTING GROUP IQ3 20131 of 1471.2%1.2%2Exited by Q1 2014+25%
STWD STARWOOD PPTY TR INCQ3 20133 of 980.4%1.3%2Exited by Q1 2014+16%
FNF FIDELITY NATIONAL FINANCIALQ3 20134 of 1561.5%14.7%14Exited by Q1 2017+55%
CF CF INDS HLDGS INCQ3 20139 of 1851.5%1.5%3Exited by Q2 2014+24%
SIG SIGNET JEWELERS LIMITEDQ4 20132 of 1381.7%12.2%16Exited by Q4 2017−15%
EQT EQT CORPQ4 20138 of 2311.7%1.7%2Exited by Q2 2014+8.0%
CNP CENTERPOINT ENERGY INCQ4 201310 of 1300.4%3.0%6Exited by Q1 2021−6.6%
DHR DANAHER CORP DELQ1 20147 of 2352.0%2.0%4Exited by Q2 2015+13%
VYX NCR CORP NEWQ1 20147 of 1961.0%2.2%4Exited by Q1 2015−20%
BUD ANHEUSER BUSCH INBEV SA/NVQ1 201410 of 1290.7%2.2%7Exited by Q4 2015+1.0%
ICE INTERCONTINENTAL EXCHANGE INQ2 201410 of 2173.2%6.3%8Exited by Q4 2018+98%
OII OCEANEERING INTL INCQ3 20144 of 990.8%2.1%2Exited by Q1 2015−9.8%
HP5A EQUITY COMWLTHQ3 20146 of 1111.4%1.9%7Exited by Q2 2016+9.8%
TAP MOLSON COORS BREWING COQ3 201411 of 1530.2%2.4%5Exited by Q4 2015+12%
AMAT APPLIED MATLS INCQ3 201421 of 2910.6%1.2%3Exited by Q4 2015−32%
CCI CROWN CASTLE INTL CORP NEWQ4 20142 of 1683.9%3.9%2Exited by Q2 2015+4.9%
LAMR LAMAR ADVERTISING CO NEWQ4 20142 of 1284.7%4.7%3Exited by Q3 2015+7.2%
YUM YUM BRANDS INCQ1 201512 of 1560.9%36.0%9Exited by Q2 2017+13%
AN AUTONATION INCQ2 201511 of 1430.9%1.4%3Exited by Q1 2016−5.3%
BALL BALL CORPQ3 20157 of 1552.1%5.5%7Exited by Q2 2017+19%
PFE PFIZER INCQ3 201520 of 2080.1%8.7%3Exited by Q2 2016−5.6%
VISN COMMSCOPE HLDG CO INCQ4 201512 of 1871.5%3.2%5Exited by Q1 2017+44%
GOOGL ALPHABET INCQ4 201525 of 3758.6%9.6%33Exited by Q3 2025+353%
NOMD NOMAD FOODS LTDQ1 20162 of 1122.3%8.8%8Exited by Q1 2018+88%
BIO BIO RAD LABS INCQ2 20162 of 1411.2%5.0%5Exited by Q3 2017+58%
JCI JOHNSON CTLS INTL PLCQ3 20164 of 1732.6%2.6%2Exited by Q1 2017−11%
TMUS T-MOBILE US INCQ3 201625 of 2460.8%11.5%19Exited by Q1 2022+148%
YUMC YUM CHINA HLDGS INCQ4 20161 of 1507.4%8.3%2Exited by Q2 2017+4.1%
CRM SALESFORCE INCQ4 201622 of 3034.6%5.8%22Exited by Q2 2026+173%

Concentration and tenure

22.5%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
78.9%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
2
Median completed holding, quarters