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

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

The 50 Best Personal Finance Blogs

Most Expensive Apartments in New York City

Bloodiest UFC Fights Ever Fought

Most Expensive Rum Brands 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!