Fidelity National Financial Inc. (FNF) Tracking Stocks: Keith Meister’s Corvex Capital Reports Holding 6% Stake

A new filing with the U.S. Securities and Exchange Commission revealed that Fidelity National Financial Inc. (NYSE:FNF) recently completed a transaction whereby each outstanding share of the company’s class A common stock, par value $0.0001 per share, was reclassified into one share of FNF Group common stock, par value $0.0001 per share, and 0.3333 of a share of FNFV Group common stock. In a new filings with the SEC, Corvex Capital, managed by Keith Meister, disclosed owning 18.29 million shares of FNF Group common stock shares of the company, and 6.09 million FNFV Group common stock shares, both stakes are equal to 6.6% of class.

Keith Meister

Fidelity National Financial Inc. (NYSE:FNF) is a provider of title insurance, technology and transaction services to the real estate and mortgage industries. In a statement, the company said that it completed the distribution of the two tracking stocks: FNF Group common stock and FNFV Group common stock. Each share of the current FNF class A common stock outstanding was converted into one share of FNF Group common stock, which will trade on the New York Stock Exchange under the current trading symbol FNF, and 0.3333 of a share of FNFV Group common stock, which will trade under the trading symbol FNFV.

Both FNF and FNFV will begin regular way trading on July 1, 2014. FNF will have about 276 million shares outstanding and FNFV will have around 92 million shares outstanding, according to the company.

In addition to Corvex Capital, Orbis Investment Management, managed by William B. Gray, owns 9.02 million shares of the company and Jonathon Jacobson’s Highfields Capital Management holds 7.20 million shares.

In December 2013, Corvex reported upping its stake in Fidelity National Financial, Inc. (NYSE:FNF) to 18.2 million shares from 17.4 million shares. According to its latest 13F filing, Corvex’s equity portfolio value was $7.13 billion as of the end of March 2014. In term of value, Williams Companies Inc. (NYSE:WMB) is represented as the largest holding, in which the fund disclosed ownership of 41.68 million shares.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!