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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
-2.26%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$357M
AUM Growth
-$66.1M
Cap. Flow
-$46.2M
Cap. Flow %
-12.95%
Top 10 Hldgs %
71.62%
Holding
64
New
14
Increased
9
Reduced
8
Closed
30

Top Buys

Rank Stock Value
1
NFE icon
New Fortress Energy
NFE
+$35.5M
2
ENPH icon
Enphase Energy
ENPH
+$33.5M
3
DOW icon
Dow Inc
DOW
+$10.5M
4
AXTA icon
Axalta
AXTA
+$8.29M
5
ECL icon
Ecolab
ECL
+$8.11M

Top Sells

Rank Stock Value
1
ES icon
Eversource Energy
ES
+$32M
2
ETR icon
Entergy
ETR
+$20.3M
3
CMS icon
CMS Energy
CMS
+$12.1M
4
AISP
Airship AI Holdings
AISP
+$11.6M
5
GTLS
Chart Industries
GTLS
+$10.6M

Sector Composition

Rank Sector Weight
1 Industrials 26.49%
2 Materials 15.93%
3 Utilities 15.36%
4 Energy 15.1%
5 Technology 10.93%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NWE icon
51
NorthWestern Energy
NWE
$4.34B
– –
-35,515
Closed -$2.11M
WLK icon
52
Westlake Corp
WLK
$9.26B
– –
-21,658
Closed -$2.22M
XIFR
53
XPLR Infrastructure LP
XIFR
$1.04B
– –
-66,088
Closed -$4.63M
MBAC
54
DELISTED
M3-Brigade Acquisition II Corp.
MBAC
– –
-1,000,000
Closed -$10M
FSNB
55
DELISTED
Fusion Acquisition Corp. II
FSNB
– –
-500,000
Closed -$5.02M
NSTC
56
DELISTED
Northern Star Investment Corp. III
NSTC
– –
-100,000
Closed -$1M
PNTM
57
DELISTED
Pontem Corporation
PNTM
– –
-700,000
Closed -$7.08M
VLTA
58
DELISTED
Volta Inc.
VLTA
– –
-383,459
Closed -$136K
RKTA
59
DELISTED
Rocket Internet Growth Opportunities Corp.
RKTA
– –
-500,000
Closed -$5.05M
LVRA
60
DELISTED
Levere Holdings Corp. Class A Ordinary Shares
LVRA
– –
-500,000
Closed -$5.04M
PDOT
61
DELISTED
Peridot Acquisition Corp. II
PDOT
– –
-1,000,000
Closed -$10.1M
WPCB
62
DELISTED
Warburg Pincus Capital Corporation I-B
WPCB
– –
-100,000
Closed -$1.01M
LGAC
63
DELISTED
Lazard Growth Acquisition Corp. I Ordinary Shares
LGAC
– –
-250,000
Closed -$2.53M
AILE
64
DELISTED
iLearningEngines, Inc. Common Stock
AILE
– –
-300,000
Closed -$3.02M
1 2
3

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PRA
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SC
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SWA
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AIP
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Covalis Capital's Q1 2023 Portfolio in Review

As of Q1 2023, Covalis Capital held 64 positions worth $357M, down 16% from $423M the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Covalis Capital withdrew a net $46.2M in Q1 2023, closing 30 positions and reducing 8 holdings. Its most notable exit was Entergy, an estimated $20.3M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 26% of assets, up from 24% a quarter earlier, followed by Materials and Utilities.

Against the trend, Covalis Capital opened a new position in Enphase Energy worth $32.5M.

  • Covalis Capital's largest Q1 2023 buy was Enphase Energy: 154,452 shares worth $32.5M.
  • Covalis Capital added most to New Fortress Energy in Q1 2023, an estimated $35.5M increase.
  • Covalis Capital's biggest Q1 2023 reduction was Eversource Energy, cutting an estimated $32M.
  • Covalis Capital fully exited Entergy in Q1 2023, selling an estimated $20.3M.
  • Covalis Capital's ten largest holdings make up 72% of its $357M portfolio in Q1 2023.
  • Covalis Capital opened 14 new positions and closed 30 in Q1 2023.
  • Covalis Capital's portfolio value fell 16% quarter-over-quarter to $357M.

Based on Covalis Capital's 13F filing for Q1 2023, filed 15 May 2023.