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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
+2.29%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$810M
AUM Growth
+$195M
Cap. Flow
+$182M
Cap. Flow %
22.47%
Top 10 Hldgs %
65.03%
Holding
83
New
27
Increased
16
Reduced
9
Closed
31

Top Buys

Rank Stock Value
1
NEE icon
NextEra Energy
NEE
+$98.5M
2
PCG icon
PG&E
PCG
+$88.2M
3
OKE icon
Oneok
OKE
+$59.1M
4
NI icon
NiSource
NI
+$52.7M
5
CVE icon
Cenovus Energy
CVE
+$32.3M

Top Sells

Rank Stock Value
1
SHEL icon
Shell
SHEL
+$79.5M
2
FSLR icon
First Solar
FSLR
+$45.5M
3
SHLS icon
Shoals Technologies Group
SHLS
+$22.1M
4
SEE
Sealed Air
SEE
+$14.2M
5
MP icon
MP Materials
MP
+$13.5M

Sector Composition

Rank Sector Weight
1 Utilities 49.3%
2 Energy 20.42%
3 Consumer Discretionary 13.97%
4 Industrials 7.05%
5 Technology 4.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VC icon
26
Visteon
VC
$2.79B
$7.32M 0.9%
62,276
+19,688
+46% +$2.3M
XPEV icon
27
XPeng
XPEV
$12.4B
$7.14M 0.88%
930,144
+467,189
+101% +$4.53M
NOVA
28
DELISTED
Sunnova Energy
NOVA
$6.99M 0.86%
+1,140,782
New +$10.3M
SHEL icon
29
Shell
SHEL
$254B
$6.59M 0.81%
98,313
-1,241,000
-93% -$79.5M
NEXT icon
30
NextDecade
NEXT
$1.78B
$6.38M 0.79%
1,123,143
-599,260
-35% -$2.99M
OI icon
31
O-I Glass
OI
$1.1B
$5.54M 0.68%
+334,020
New +$5.28M
JBL icon
32
Jabil
JBL
$33B
$5.47M 0.67%
+40,804
New +$5.48M
PEG icon
33
Public Service Enterprise Group
PEG
$38.2B
$5.22M 0.64%
+78,198
New +$4.79M
IP icon
34
International Paper
IP
$21.6B
$5.08M 0.63%
+130,174
New +$4.72M
ENB icon
35
Enbridge
ENB
$119B
$5.06M 0.62%
+139,939
New +$4.97M
CTVA icon
36
Corteva
CTVA
$52.6B
$4.7M 0.58%
+81,442
New +$4.21M
CRGY icon
37
Crescent Energy
CRGY
$3.79B
$4.46M 0.55%
+375,000
New +$4.22M
FLR icon
38
Fluor
FLR
$7.01B
$3.69M 0.46%
+87,337
New +$3.35M
PRIM icon
39
Primoris Services
PRIM
$4.58B
$3.67M 0.45%
+86,235
New +$3.18M
XLI icon
40
State Street Industrial Select Sector SPDR ETF
XLI
$32.8B
$3.01M 0.37%
23,932
-32,865
-58% -$3.87M
LEA icon
41
Lear
LEA
$6.54B
$2.99M 0.37%
+20,651
New +$2.83M
ATS icon
42
ATS Corp
ATS
$2.64B
$2.46M 0.3%
73,100
-276,868
-79% -$11M
IFF icon
43
International Flavors & Fragrances
IFF
$20.2B
$2.05M 0.25%
+23,831
New +$1.91M
ADM icon
44
CALL
Archer Daniels Midland
ADM
$38.2B
$1.88M 0.23%
+30,000
New +$1.76M
MOD icon
45
Modine Manufacturing
MOD
$10.7B
$1.84M 0.23%
+19,281
New +$1.49M
VRT icon
46
Vertiv
VRT
$93B
$1.66M 0.2%
+20,331
New +$1.28M
TSN icon
47
Tyson Foods
TSN
$20.4B
$1.57M 0.19%
+26,717
New +$1.46M
VOD icon
48
CALL
Vodafone
VOD
$36.3B
$1.56M 0.19%
+175,000
New +$1.52M
CC icon
49
Chemours
CC
$2.5B
$1.42M 0.18%
+54,172
New +$1.54M
METC icon
50
Ramaco Resources Class A
METC
$599M
$788K 0.1%
+48,353
New +$857K
1
2
3 4

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Covalis Capital's Q1 2024 Portfolio in Review

As of Q1 2024, Covalis Capital held 83 positions worth $810M, up 32% from $615M the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Covalis Capital deployed $182M of net new capital in Q1 2024, opening 27 new positions and adding to 16 existing holdings. Its largest new stake was NiSource: 2,004,920 shares worth $55.5M.

By sector, the portfolio is most concentrated in Utilities at 49% of assets, up from 19% a quarter earlier, followed by Energy and Consumer Discretionary.

On the sell side, the largest reduction was Shell, an estimated $79.5M trimmed.

  • Covalis Capital's largest Q1 2024 buy was NiSource: 2,004,920 shares worth $55.5M.
  • Covalis Capital added most to NextEra Energy in Q1 2024, an estimated $98.5M increase.
  • Covalis Capital's biggest Q1 2024 reduction was Shell, cutting an estimated $79.5M.
  • Covalis Capital fully exited Shoals Technologies Group in Q1 2024, selling an estimated $22.1M.
  • Covalis Capital's ten largest holdings make up 65% of its $810M portfolio in Q1 2024.
  • Covalis Capital opened 27 new positions and closed 31 in Q1 2024.
  • Covalis Capital's portfolio value rose 32% quarter-over-quarter to $810M.

Based on Covalis Capital's 13F filing for Q1 2024, filed 15 May 2024.