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Corvex Management: Key Position Updates in 4Q14

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Corvex Management’s US long portfolio value fell in 4Q14

Corvex Management has over $5 billion in assets under management. According to a press release from Williams, it “focuses on investing in high quality, US businesses under-going change in industries with positive secular tailwinds.” This series will discuss the fund’s notable position updates during the fourth quarter that ended in December 2014.

The fund’s US long portfolio fell to $8.15 billion from $8.29 billion in the third quarter.

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Keith Meister leads Corvex as the managing partner and chief investment officer. Before founding Corvex, Meister worked in various positions. He served as CEO and vice chairman of Icahn Enterprises. Before that, he was the director of numerous companies including Icahn Enterprises, Motorola Mobility, Motorola, XO Holdings, Federal Mogul, American Railcar, ADT, and Ralcorp.

Notable positions traded

The fund added to its positions in B/E Aerospace (BEAV), Lamar Advertising (LAMR), NCR (NCR), and Oceaneering International (OII). B/E Aerospace has 0.03% exposure to the iShares Russell 1000 ETF (IWB). The other three companies have 0.02% exposure to the same fund. Corvex Management also lowered its stakes in Dollar General (DG) and Monsanto (MON).

In the next part of this series, we’ll review Corvex Management’s increased position in B/E Aerospace.

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