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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
-11.25%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$565M
AUM Growth
+$99.1M
Cap. Flow
+$178M
Cap. Flow %
31.47%
Top 10 Hldgs %
52.75%
Holding
67
New
27
Increased
14
Reduced
8
Closed
16

Top Buys

Rank Stock Value
1
FSLR icon
First Solar
FSLR
+$65.5M
2
PPL
PPL Corp
PPL
+$28.9M
3
SQM icon
Sociedad Química y Minera de Chile
SQM
+$22.6M
4
ES icon
Eversource Energy
ES
+$21.4M
5
UGI icon
UGI
UGI
+$17.6M

Top Sells

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$60.5M
2
NFE icon
New Fortress Energy
NFE
+$25M
3
CMS icon
CMS Energy
CMS
+$12.8M
4
DD icon
DuPont de Nemours
DD
+$10.9M
5
TALO icon
Talos Energy
TALO
+$9.88M

Sector Composition

Rank Sector Weight
1 Utilities 28.75%
2 Consumer Discretionary 17.36%
3 Industrials 17.08%
4 Technology 16.37%
5 Materials 13.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BB icon
26
BlackBerry
BB
$4.58B
$7.29M 1.29%
+1,547,364
New +$7.6M
LNG icon
27
Cheniere Energy
LNG
$54.2B
$6.98M 1.23%
42,052
-374,733
-90% -$60.5M
BERY
28
DELISTED
Berry Global Group, Inc.
BERY
$6.81M 1.2%
119,852
+38,463
+47% +$2.26M
NEXT icon
29
NextDecade
NEXT
$1.68B
$6.63M 1.17%
1,295,231
-164,938
-11% -$1M
HXL icon
30
Hexcel
HXL
$7.97B
$6.15M 1.09%
94,355
+60,833
+181% +$4.33M
ARRY icon
31
Array Technologies
ARRY
$740M
$5.81M 1.03%
261,912
-146,359
-36% -$3.18M
GNRC icon
32
Generac Holdings
GNRC
$11.5B
$5.28M 0.93%
+48,440
New +$5.99M
DTM icon
33
DT Midstream
DTM
$13.9B
$5.08M 0.9%
+95,939
New +$5M
XPEV icon
34
XPeng
XPEV
$12.5B
$5.03M 0.89%
+274,102
New +$4.65M
AXTA icon
35
Axalta
AXTA
$7.45B
$4.99M 0.88%
185,405
-85,613
-32% -$2.51M
EE icon
36
Excelerate Energy
EE
$1.19B
$4.6M 0.81%
269,674
+14,698
+6% +$287K
FLR icon
37
Fluor
FLR
$6.54B
$4.56M 0.81%
+124,202
New +$4.16M
EOSE icon
38
Eos Energy Enterprises
EOSE
$1.14B
$4.3M 0.76%
2,000,000
– –
TSN icon
39
Tyson Foods
TSN
$21.5B
$4.22M 0.75%
+83,519
New +$4.45M
TROX icon
40
Tronox
TROX
$967M
$3.05M 0.54%
+226,646
New +$3.03M
DQ
41
Daqo New Energy
DQ
$810M
$2.99M 0.53%
+98,815
New +$3.52M
SHW icon
42
Sherwin-Williams
SHW
$83.5B
$2.97M 0.53%
11,648
-16,670
-59% -$4.46M
CCK icon
43
Crown Holdings
CCK
$13B
$2.83M 0.5%
+32,035
New +$2.87M
XLI icon
44
State Street Industrial Select Sector SPDR ETF
XLI
$32.2B
$2.67M 0.47%
+26,356
New +$2.82M
ON icon
45
ON Semiconductor
ON
$30.7B
$2.47M 0.44%
26,582
– –
TPIC
46
DELISTED
TPI Composites
TPIC
$2.16M 0.38%
+816,154
New +$4.99M
BG icon
47
Bunge Global
BG
$20.9B
$1.94M 0.34%
+17,914
New +$1.96M
ECL icon
48
Ecolab
ECL
$79.8B
$1.9M 0.34%
11,187
-26,889
-71% -$4.89M
ECVT icon
49
Ecovyst
ECVT
$1.32B
$1.48M 0.26%
150,022
-231,017
-61% -$2.47M
WCC
50
WESCO International
WCC
$15.1B
$938K 0.17%
+6,519
New +$1.05M
1
2
3

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Covalis Capital's Q3 2023 Portfolio in Review

As of Q3 2023, Covalis Capital held 67 positions worth $565M, up 21% from $466M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Covalis Capital deployed $178M of net new capital in Q3 2023, opening 27 new positions and adding to 14 existing holdings. Its largest new stake was Eversource Energy: 320,681 shares worth $18.6M.

By sector, the portfolio is most concentrated in Utilities at 29% of assets, up from 21% a quarter earlier, followed by Consumer Discretionary and Industrials.

On the sell side, the largest reduction was Cheniere Energy, an estimated $60.5M trimmed.

  • Covalis Capital's largest Q3 2023 buy was Eversource Energy: 320,681 shares worth $18.6M.
  • Covalis Capital added most to First Solar in Q3 2023, an estimated $65.5M increase.
  • Covalis Capital's biggest Q3 2023 reduction was Cheniere Energy, cutting an estimated $60.5M.
  • Covalis Capital fully exited New Fortress Energy in Q3 2023, selling an estimated $25M.
  • Covalis Capital's ten largest holdings make up 53% of its $565M portfolio in Q3 2023.
  • Covalis Capital opened 27 new positions and closed 16 in Q3 2023.
  • Covalis Capital's portfolio value rose 21% quarter-over-quarter to $565M.

Based on Covalis Capital's 13F filing for Q3 2023, filed 14 Nov 2023.