WhaleCreep

Corvex Management LP 13F holdings, Q3 2015

Hedge fundSEC filingsCompare with another fundHoldings as of 2015-09-30, filed 2015-11-16

Corvex Management LP disclosed 30 US equity positions worth $8.0bn in its Q3 2015 13F filing. Its largest position is YUM at 20.0% of the reported book, followed by WMB and SIG. Versus Q2 2015 it opened 8 new positions, added to 10, reduced 6 and exited 16.

$8.0bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
30
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
20.0%
Largest position
The largest single position as a share of the reported equity book.
85.5%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
9
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 Q2 2015: 8 new, 10 added, 6 reduced, 16 exited

30 rows
YUM YUM BRANDS INCConsumer Cyclical20.0%$1.6bn20.04m+31%added
WMB WILLIAMS COS INCEnergy19.2%$1.5bn41.68m0.0%held
SIG SIGNET JEWELERS LIMITEDConsumer Cyclical8.6%$688m5.05m−1.4%reduced
FNF FIDELITY NATIONAL FINANCIALFinancial Services8.6%$687m19.37m−5.1%reduced
ARCPEUR VEREIT INC–7.8%$622m80.61m–new
ALLERGAN PLC no ticker–6.8%$546m2.01m+30%added
B/E AEROSPACE INC no ticker–4.5%$363m8.27m+25%added
AETNA INC NEW no ticker–4.4%$349m3.19m+1596%added
TWXCHF TIME WARNER INC–3.2%$255m3.71m+28%added
TAP MOLSON COORS BEVERAGE COConsumer Defensive2.4%$189m2.27m−7.7%reduced
BALL BALL CORPConsumer Cyclical2.1%$170m2.74m–new
PLATFORM SPECIALTY PRODS COR no ticker–1.9%$153m12.09m+28%added
APC3EUR ANADARKO PETE CORP–1.5%$119m1.97m–new
MDCOUSD MEDICINES CO–1.5%$117m3.09m0.0%held
HP5A EQUITY COMWLTH–1.3%$107m3.94m0.0%held
AN AUTONATION INCConsumer Cyclical1.2%$93.9m1.61m+33%added
BUD ANHEUSER BUSCH INBEV SA NVConsumer Defensive1.1%$90.1m847,891−21%reduced
PRGO PERRIGO CO PLCHealthcare0.7%$59.5m378,235+5.0%added
HUM HUMANA INCHealthcare0.6%$49.2m274,654+115%added
ODPEUR OFFICE DEPOT INC–0.5%$41.8m6.51m–new
ENDO INTL PLC no ticker–0.5%$40.5m584,317−63%reduced
EBAY EBAY INC.Consumer Cyclical0.5%$39.4m1.61m–new
GPI GROUP 1 AUTOMOTIVE INCConsumer Cyclical0.3%$20.1m236,6380.0%held
ALLERGAN PLC no ticker–0.2%$14.2m15,0000.0%held
CALIFORNIA RES CORP no ticker–0.1%$11.6m4.47m+251%added
TIME WARNER CABLE INC no ticker–0.1%$11.3m63,273–new
PFE PFIZER INCHealthcare0.1%$9.9m314,250–new
AXIALL CORP no ticker–0.09%$7.1m452,035−18%reduced
AMAT APPLIED MATLS INCTechnology0.02%$1.5m101,500–new
ARIAD PHARMACEUTICALS INC no ticker–0.01%$584k100,0000.0%held

Exited since Q2 2015

16 rows
AMERICAN RLTY CAP PPTYS INC no ticker6.6%$592m
ICE INTERCONTINENTAL EXCHANGE IN3.0%$271m
BALL CORP no ticker1.9%$171m
LNG CHENIERE ENERGY INC1.8%$157m
CITUSD CIT GROUP INC0.8%$70.6m
CBS CORP NEW no ticker0.7%$61.0m
VIAB VIACOM INC NEW0.6%$58.1m
GOOGLE INC no ticker0.5%$48.6m
MCD MCDONALDS CORP0.4%$38.5m
MONSANTO CO NEW no ticker0.4%$32.0m
TEVA TEVA PHARMACEUTICAL INDS LTD0.3%$23.9m
PANDORA MEDIA INC no ticker0.3%$23.3m
KSUEUR KANSAS CITY SOUTHERN0.2%$16.0m
ABBV ABBVIE INC0.1%$12.1m
LAMR LAMAR ADVERTISING CO NEW0.1%$9.5m
TEKMIRA PHARMACEUTICALS CORP no ticker0.01%$793k

Sector mix

  • Unclassified34.5%
  • Consumer Cyclical32.7%
  • Energy19.2%
  • Financial Services8.6%
  • Consumer Defensive3.5%
  • Healthcare1.5%
  • Technology0.02%

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