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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
+11.46%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$711M
AUM Growth
-$24.9M
Cap. Flow
-$79.7M
Cap. Flow %
-11.22%
Top 10 Hldgs %
54.86%
Holding
89
New
28
Increased
10
Reduced
13
Closed
38

Top Buys

Rank Stock Value
1
PCG icon
PG&E
PCG
+$37.4M
2
VLO icon
Valero Energy
VLO
+$36.7M
3
ETR icon
Entergy
ETR
+$33.1M
4
LAD icon
Lithia Motors
LAD
+$31.4M
5
ALV icon
Autoliv
ALV
+$30.3M

Top Sells

Rank Stock Value
1
NGG icon
National Grid
NGG
+$86.9M
2
DVN icon
Devon Energy
DVN
+$52.5M
3
FLNC icon
Fluence Energy
FLNC
+$34.2M
4
NRG icon
NRG Energy
NRG
+$33.3M
5
F icon
Ford
F
+$20.5M

Sector Composition

Rank Sector Weight
1 Utilities 42.12%
2 Consumer Discretionary 24.93%
3 Energy 16.02%
4 Industrials 8.23%
5 Technology 1.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GEV icon
26
GE Vernova
GEV
$240B
$9.31M 1.31%
36,498
-45,839
-56% -$8.8M
GPI icon
27
Group 1 Automotive
GPI
$4.26B
$7.38M 1.04%
19,256
-39,802
-67% -$13.7M
EVRG icon
28
Evergy
EVRG
$19.4B
$7.04M 0.99%
113,551
-344,646
-75% -$20.1M
VST icon
29
Vistra
VST
$48.2B
$6.83M 0.96%
57,655
-133,085
-70% -$11.3M
BAK icon
30
Braskem
BAK
$901M
$6.78M 0.95%
+923,637
New +$6.06M
ADNT icon
31
Adient
ADNT
$1.69B
$6.23M 0.88%
276,009
+97,680
+55% +$2.23M
OI icon
32
O-I Glass
OI
$1.18B
$5.84M 0.82%
445,335
-783,062
-64% -$9.38M
FSLR icon
33
First Solar
FSLR
$21.4B
$5.79M 0.82%
23,224
-3,641
-14% -$820K
OGS icon
34
ONE Gas
OGS
$5.01B
$5.29M 0.74%
+71,115
New +$4.89M
ES icon
35
Eversource Energy
ES
$28.1B
$5.03M 0.71%
+73,912
New +$4.78M
PR
36
Permian Resources
PR
$17.4B
$4.83M 0.68%
+355,129
New +$5.22M
RUN icon
37
Sunrun
RUN
$2.26B
$4.78M 0.67%
+264,867
New +$4.71M
DY icon
38
Dycom Industries
DY
$11.2B
$4.2M 0.59%
+21,321
New +$3.85M
TLN
39
Talen Energy Corp
TLN
$15.1B
$3.35M 0.47%
+18,776
New +$2.65M
BTE icon
40
Baytex Energy
BTE
$2.96B
$3.33M 0.47%
+1,115,188
New +$3.79M
AL
41
DELISTED
Air Lease Corp
AL
$2.14M 0.3%
+47,216
New +$2.15M
WMG icon
42
Warner Music
WMG
$15.2B
$2.02M 0.28%
+64,422
New +$1.91M
ENLC
43
DELISTED
ENLINK MIDSTREAM, LLC
ENLC
$2.01M 0.28%
+138,572
New +$1.91M
NOVA
44
DELISTED
Sunnova Energy
NOVA
$1.73M 0.24%
+177,139
New +$1.56M
NEXT icon
45
NextDecade
NEXT
$1.68B
$1.6M 0.23%
339,852
-864,827
-72% -$5.23M
E icon
46
ENI
E
$78B
$1.28M 0.18%
+42,267
New +$1.32M
VIK icon
47
Viking Holdings
VIK
$45.8B
$859K 0.12%
+24,625
New +$843K
HNRG icon
48
Hallador Energy
HNRG
$646M
$317K 0.04%
33,603
-744,239
-96% -$5.29M
CMCL icon
49
Caledonia Mining Corp
CMCL
$351M
$195K 0.03%
+13,004
New +$157K
SBSW icon
50
Sibanye-Stillwater
SBSW
$6.05B
$146K 0.02%
35,483
-192,157
-84% -$815K
1
2
3 4

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Covalis Capital's Q3 2024 Portfolio in Review

As of Q3 2024, Covalis Capital held 89 positions worth $711M, down 3.4% from $736M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Covalis Capital withdrew a net $79.7M in Q3 2024, closing 38 positions and reducing 13 holdings. Its most notable exit was National Grid, an estimated $86.9M position sold in full.

By sector, the portfolio is most concentrated in Utilities at 42% of assets, down from 54% a quarter earlier, followed by Consumer Discretionary and Energy.

Against the trend, Covalis Capital opened a new position in Entergy worth $36.9M.

  • Covalis Capital's largest Q3 2024 buy was Entergy: 561,442 shares worth $36.9M.
  • Covalis Capital added most to PG&E in Q3 2024, an estimated $37.4M increase.
  • Covalis Capital's biggest Q3 2024 reduction was Evergy, cutting an estimated $20.1M.
  • Covalis Capital fully exited National Grid in Q3 2024, selling an estimated $86.9M.
  • Covalis Capital's ten largest holdings make up 55% of its $711M portfolio in Q3 2024.
  • Covalis Capital opened 28 new positions and closed 38 in Q3 2024.
  • Covalis Capital's portfolio value fell 3.4% quarter-over-quarter to $711M.

Based on Covalis Capital's 13F filing for Q3 2024, filed 14 Nov 2024.