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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
+1.2%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$274M
AUM Growth
-$159M
Cap. Flow
-$158M
Cap. Flow %
-57.82%
Top 10 Hldgs %
63.54%
Holding
137
New
14
Increased
3
Reduced
7
Closed
54

Top Buys

Rank Stock Value
1
EMN icon
Eastman Chemical
EMN
+$25.4M
2
EXC icon
Exelon
EXC
+$20.8M
3
LICY
Li-Cycle Holdings Corp.
LICY
+$17.5M
4
SOL
Emeren Group
SOL
+$8.46M
5
TIMB icon
TIM SA
TIMB
+$7.72M

Top Sells

Rank Stock Value
1
PCG icon
PG&E
PCG
+$40M
2
IFF icon
International Flavors & Fragrances
IFF
+$21.5M
3
HUN icon
Huntsman Corp
HUN
+$19.6M
4
DAL icon
Delta Air Lines
DAL
+$19.2M
5
XEL icon
Xcel Energy
XEL
+$15.3M

Sector Composition

Rank Sector Weight
1 Financials 26.35%
2 Industrials 17.63%
3 Technology 12.48%
4 Materials 12.12%
5 Utilities 8.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OHPA
51
DELISTED
Orion Acquisition Corp. Class A common stock
OHPA
$570K 0.21%
58,236
-11,764
-17% -$115K
ASZ.WS
52
DELISTED
Austerlitz Acquisition Corporation II Warrants, each whole Warrant exercisable for one Class A Ordinary Share at an exercise price of $11.50 per share
ASZ.WS
$570K 0.21%
124,998
– –
TE
53
T1 Energy
TE
$1.04B
$548K 0.2%
49,029
-789,608
-94% -$8.55M
RKTA.WS
54
DELISTED
Rocket Internet Growth Opportunities Corp. Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per share
RKTA.WS
$544K 0.2%
124,999
– –
SLAM
55
DELISTED
Slam Corp. Class A Ordinary Share
SLAM
$488K 0.18%
50,000
– –
BNAI
56
Brand Engagement Network
BNAI
$78.7M
$487K 0.18%
5,000
– –
AILEW
57
DELISTED
iLearningEngines, Inc. Warrant
AILEW
$484K 0.18%
149,999
– –
AAC.WS
58
DELISTED
Ares Acquisition Corporation Redeemable Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
AAC.WS
$447K 0.16%
99,999
– –
JWSM.WS
59
DELISTED
Jaws Mustang Acquisition Corp. Redeemable Warrants, each whole warrant exercisable for one Class A ordinary share at an exercise price of $11.50
JWSM.WS
$333K 0.12%
74,998
– –
IVAN.WS
60
DELISTED
Ivanhoe Capital Acquisition Corp. Warrants, each whole warrant exercisable for one share of Class A
IVAN.WS
$323K 0.12%
58,672
-33,637
-36% -$78.2K
IPVIW
61
DELISTED
InterPrivate IV InfraTech Partners Inc. Warrant
IPVIW
$263K 0.1%
59,998
– –
LGACW
62
DELISTED
Lazard Growth Acquisition Corp. I Warrants
LGACW
$222K 0.08%
49,999
– –
FSSIW
63
DELISTED
Fortistar Sustainable Solutions Corp. Warrant
FSSIW
$199K 0.07%
49,999
– –
COVAW
64
DELISTED
COVA Acquisition Corp. Warrants to purchase Class A ordinary shares
COVAW
$190K 0.07%
49,999
– –
GETR.WS
65
DELISTED
Getaround, Inc. Warrants, each whole warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share
GETR.WS
$184K 0.07%
39,999
– –
DCRNW
66
DELISTED
Decarbonization Plus Acquisition Corporation II Warrant
DCRNW
$173K 0.06%
33,333
– –
AEON.WS
67
DELISTED
AEON Biopharma Inc
AEON.WS
$158K 0.06%
41,665
– –
SDACW
68
DELISTED
Sustainable Development Acquisition I Corp. Warrant
SDACW
$156K 0.06%
37,499
– –
TSPQ.WS
69
DELISTED
TCW Special Purpose Acquisition Corp. Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
TSPQ.WS
$141K 0.05%
33,332
– –
NDACW
70
DELISTED
NightDragon Acquisition Corp. Warrants to purchase Class A common stock
NDACW
$134K 0.05%
29,997
– –
SPAQ.WS
71
DELISTED
Spartan Acquisition Corp. III Warrants, exercisable for one share of Class A Common Stock
SPAQ.WS
$125K 0.05%
24,999
– –
FSRDW
72
DELISTED
Fast Radius, Inc. Warrants
FSRDW
$109K 0.04%
24,999
– –
MONDW
73
DELISTED
Mondee Holdings, Inc. Warrant
MONDW
$100K 0.04%
24,999
– –
SSAAW
74
DELISTED
Science Strategic Acquisition Corp. Alpha Warrant
SSAAW
$91K 0.03%
23,332
– –
NSTC.WS
75
DELISTED
Northern Star Investment Corp. III Redeemable Warrants, each whole warrant exercisable for shares of Class A common stock at an exercise price of $11.50 per share
NSTC.WS
$75K 0.03%
16,665
– –
1 2
3
4 5

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Covalis Capital's Q4 2021 Portfolio in Review

As of Q4 2021, Covalis Capital held 137 positions worth $274M, down 37% from $433M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Covalis Capital withdrew a net $158M in Q4 2021, closing 54 positions and reducing 7 holdings. Its most notable exit was PG&E, an estimated $40M position sold in full.

By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 21% a quarter earlier, followed by Industrials and Technology.

Against the trend, Covalis Capital opened a new position in Eastman Chemical worth $27.6M.

  • Covalis Capital's largest Q4 2021 buy was Eastman Chemical: 228,472 shares worth $27.6M.
  • Covalis Capital added most to Li-Cycle Holdings Corp. in Q4 2021, an estimated $17.5M increase.
  • Covalis Capital's biggest Q4 2021 reduction was International Flavors & Fragrances, cutting an estimated $21.5M.
  • Covalis Capital fully exited PG&E in Q4 2021, selling an estimated $40M.
  • Covalis Capital's ten largest holdings make up 64% of its $274M portfolio in Q4 2021.
  • Covalis Capital opened 14 new positions and closed 54 in Q4 2021.
  • Covalis Capital's portfolio value fell 37% quarter-over-quarter to $274M.

Based on Covalis Capital's 13F filing for Q4 2021, filed 14 Feb 2022.