WhaleCreep

Corvex Management LP 13F holdings, Q2 2013

Hedge fundSEC filingsCompare with another fundHoldings as of 2013-06-30, filed 2013-08-14

Corvex Management LP disclosed 41 US equity positions worth $3.8bn in its Q2 2013 13F filing. Its largest position is ADT at 11.6% of the reported book, followed by WMB and TW TELECOM INC. Versus Q1 2013 it opened 21 new positions, added to 10, reduced 5 and exited 16.

$3.8bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
41
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
11.6%
Largest position
The largest single position as a share of the reported equity book.
60.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
19
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 Q1 2013: 21 new, 10 added, 5 reduced, 16 exited

41 rows
ADT THE ADT CORPORATIONIndustrials11.6%$445m11.17m0.0%held
WMB WILLIAMS COS INCEnergy10.3%$395m12.15m+108%added
TW TELECOM INC no ticker–6.7%$255m9.07m+295%added
TMO THERMO FISHER SCIENTIFIC INCHealthcare6.1%$234m2.76m–new
CBS CORP NEW no ticker–5.8%$220m4.51m+22%added
STZ CONSTELLATION BRANDS INCConsumer Defensive5.5%$210m4.03m–new
DG DOLLAR GEN CORPConsumer Defensive3.8%$147m2.92m–new
TIME WARNER CABLE INC no ticker–3.8%$144m1.28m–new
COMMONWEALTH REIT no ticker–3.4%$131m5.68m+4.6%added
LIBERTY GLOBAL PLC no ticker–3.3%$126m1.70m–new
GOOGLE INC no ticker–3.3%$125m141,850–new
VODAFONE GROUP PLC NEW no ticker–3.0%$117m4.05m+171%added
LEVEL 3 COMMUNICATIONS INC no ticker–2.8%$106m5.04m+68%added
LAMAR ADVERTISING CO no ticker–2.8%$105m2.43m+404%added
TALISMAN ENERGY INC no ticker–2.7%$104m9.06m–new
TWXCHF TIME WARNER INC–2.0%$78.1m1.35m–new
CRI CARTERS INCConsumer Cyclical1.9%$71.8m969,023–new
PSX PHILLIPS 66Energy1.8%$70.6m1.20m+4.1%added
HUN HUNTSMAN CORPBasic Materials1.7%$66.5m4.02m+174%added
HEALTH MGMT ASSOC INC NEW no ticker–1.7%$66.1m4.20m–new
FAMILY DLR STORES INC no ticker–1.7%$63.8m1.02m–new
APC3EUR ANADARKO PETE CORP–1.6%$62.2m723,500−77%reduced
QCOM QUALCOMM INCTechnology1.6%$61.1m1.00m–new
FIFTH & PAC COS INC no ticker–1.5%$56.5m2.53m−27%reduced
OXY OCCIDENTAL PETE CORPEnergy1.4%$52.4m587,118−2.1%reduced
EVTC EVERTEC INCTechnology1.3%$51.5m2.34m–new
ISTAR INC no ticker–1.2%$44.7m3.96m+728%added
TYCO INTERNATIONAL LTD no ticker–1.0%$37.5m1.14m0.0%held
HCA HCA HEALTHCARE INCHealthcare0.8%$30.8m854,948−9.7%reduced
LIBERTY GLOBAL PLC no ticker–0.6%$22.0m323,803–new
JPM JPMORGAN CHASE & COFinancial Services0.6%$21.1m400,000−57%reduced
CYH COMMUNITY HEALTH SYS INC NEWHealthcare0.5%$21.0m447,718–new
DU PONT E I DE NEMOURS & CO no ticker–0.5%$18.9m360,000–new
LNG CHENIERE ENERGY INCEnergy0.5%$18.1m650,774–new
NOVEUR NATIONAL OILWELL VARCO INC–0.4%$13.8m200,0000.0%held
ARMOUR RESIDENTIAL REIT INC no ticker–0.4%$13.5m2.86m–new
MOLINA HEALTHCARE INC no ticker–0.3%$11.0m8.50m0.0%held
VIVUS INC no ticker–0.1%$5.0m400,000–new
KINDER MORGAN INC DEL no ticker–0.07%$2.6m500,600–new
LONE PINE RES INC no ticker–0.03%$1.3m3.90m0.0%held
A AGILENT TECHNOLOGIES INCHealthcare0.03%$1.0m23,620–new

Exited since Q1 2013

16 rows
IWM ISHARES TR12.0%$316m
LEA LEAR CORP3.8%$101m
FCX FREEPORT MCMORAN INC2.3%$60.4m
COCA COLA ENTERPRISES INC NE no ticker1.7%$43.8m
NEWS CORP no ticker1.3%$35.4m
STARWOOD HOTELS&RESORTS WRLD no ticker1.2%$31.9m
ASH Ashland Inc1.2%$31.5m
EQIX EQUINIX INC0.9%$23.4m
THC TENET HEALTHCARE CORP0.8%$21.1m
MCGRAW HILL FINL INC no ticker0.7%$18.2m
AAPL APPLE INC0.6%$16.8m
RIG TRANSOCEAN LTD0.6%$15.6m
CHKEUR CHESAPEAKE ENERGY CORP0.4%$10.2m
CORRECTIONS CORP AMER NEW no ticker0.3%$8.0m
LIBERTY INTERACTIVE CORP no ticker0.3%$6.9m
NUANEUR NUANCE COMMUNICATIONS INC0.2%$6.1m

Sector mix

  • Unclassified50.4%
  • Energy14.0%
  • Industrials11.6%
  • Consumer Defensive9.3%
  • Healthcare7.5%
  • Technology2.9%
  • Consumer Cyclical1.9%
  • Basic Materials1.7%
  • Financial Services0.6%

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