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Covalis Capital Portfolio holdings

AUM $1.63B
1-Year Est. Return 27.84%
This Fund
S&P 500
This Quarter Est. Return
+9.16%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$466M
AUM Growth
+$231M
Cap. Flow
+$222M
Cap. Flow %
47.67%
Top 10 Hldgs %
90.1%
Holding
33
New
16
Increased
3
Reduced
1
Closed
13

Top Buys

Rank Stock Value
1
BIL icon
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
+$104M
2
D icon
Dominion Energy
D
+$56.1M
3
PPL
PPL Corp
PPL
+$46.3M
4
VALE icon
Vale
VALE
+$31.2M
5
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
+$30.7M

Top Sells

Rank Stock Value
1
PCG icon
PG&E
PCG
+$43M
2
EIX icon
Edison International
EIX
+$37.6M
3
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$20.2M
4
FE icon
FirstEnergy
FE
+$17.1M
5
WHR icon
Whirlpool
WHR
+$8.24M

Sector Composition

Rank Sector Weight
1 Utilities 46.34%
2 Materials 18.01%
3 Energy 9.5%
4 Healthcare 1.68%
5 Financials 0.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NTR icon
26
Nutrien
NTR
$33.9B
– –
-60,862
Closed -$2.39M
PCG icon
27
PG&E
PCG
$39B
– –
-4,575,529
Closed -$43M
UGI icon
28
UGI
UGI
$7.87B
– –
-35,376
Closed -$1.17M
WHR icon
29
Whirlpool
WHR
$2.49B
– –
-44,795
Closed -$8.24M
TXNM
30
TXNM Energy Inc
TXNM
$6.39B
– –
-136,507
Closed -$5.64M
TELL
31
DELISTED
Tellurian Inc.
TELL
– –
-384,122
Closed -$306K
RDS.B
32
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
– –
-833,525
Closed -$20.2M
CXO
33
DELISTED
CONCHO RESOURCES INC.
CXO
– –
-7,284
Closed -$321K
1
2

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PRA
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SC
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Covalis Capital's Q4 2020 Portfolio in Review

As of Q4 2020, Covalis Capital held 33 positions worth $466M, up 98% from $235M the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Covalis Capital deployed $222M of net new capital in Q4 2020, opening 16 new positions and adding to 3 existing holdings. Its largest new stake was State Street SPDR Bloomberg 1-3 Month T-Bill ETF: 1,133,618 shares worth $104M.

By sector, the portfolio is most concentrated in Utilities at 46% of assets, down from 80% a quarter earlier, followed by Materials and Energy.

On the sell side, the largest reduction was Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock), an estimated $7.56M trimmed.

  • Covalis Capital's largest Q4 2020 buy was State Street SPDR Bloomberg 1-3 Month T-Bill ETF: 1,133,618 shares worth $104M.
  • Covalis Capital added most to PPL Corp in Q4 2020, an estimated $46.3M increase.
  • Covalis Capital's biggest Q4 2020 reduction was Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock), cutting an estimated $7.56M.
  • Covalis Capital fully exited PG&E in Q4 2020, selling an estimated $43M.
  • Covalis Capital's ten largest holdings make up 90% of its $466M portfolio in Q4 2020.
  • Covalis Capital opened 16 new positions and closed 13 in Q4 2020.
  • Covalis Capital's portfolio value rose 98% quarter-over-quarter to $466M.

Based on Covalis Capital's 13F filing for Q4 2020, filed 16 Feb 2021.