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Covalis Capital Portfolio holdings
AUM
$1.77B
1-Year Est. Return
26.68%
This Fund
S&P 500
This Quarter
Est. Return
+1.35%
1 Year Est. Return
+26.68%
3 Year Est. Return
+37.9%
5 Year Est. Return
+23.2%
10 Year Est. Return
–
AUM
$466M
AUM Growth
+$110M
(+31%)
Cap. Flow
+$108M
Cap. Flow
% of AUM
23.22%
Top 10 Holdings %
Top 10 Hldgs %
59.76%
Holding
58
New
24
Increased
7
Reduced
9
Closed
18
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cheniere Energy
LNG
|
+$61.7M |
| 2 |
PG&E
PCG
|
+$19.7M |
| 3 |
EVA
Enviva Inc.
EVA
|
+$15.2M |
| 4 |
NRG Energy
NRG
|
+$14M |
| 5 |
Sociedad Química y Minera de Chile
SQM
|
+$12.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Enphase Energy
ENPH
|
+$32.5M |
| 2 |
ZT
Zimmer Energy Transition Acquisition Corp. Class A Common Stock
ZT
|
+$20.3M |
| 3 |
New Fortress Energy
NFE
|
+$18.8M |
| 4 |
Kimberly-Clark
KMB
|
+$7.4M |
| 5 |
TIM SA
TIMB
|
+$6.99M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 24.77% |
| 2 | Industrials | 21.67% |
| 3 | Utilities | 20.52% |
| 4 | Materials | 19.62% |
| 5 | Technology | 7.24% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
SolarEdge
SEDG
$1.93B
| – | – |
-18,698
| Closed | -$5.68M |
|
|
52
TIM SA
TIMB
$8.38B
| – | – |
-565,355
| Closed | -$6.99M |
|
53
Vale
VALE
$64B
| – | – |
-50,792
| Closed | -$801K |
|
54
Valvoline
VVV
$4.1B
| – | – |
-150,488
| Closed | -$5.26M |
|
55
State Street Industrial Select Sector SPDR ETF
XLI
$32.9B
| – | – |
-15,225
| Closed | -$1.54M |
|
|
NSTD
56
DELISTED
Northern Star Investment Corp. IV
NSTD
| – | – |
-100,000
| Closed | -$1.01M |
|
|
WAVC
57
DELISTED
Waverley Capital Acquisition Corp. 1
WAVC
| – | – |
-500,000
| Closed | -$5.1M |
|
|
ZT
58
DELISTED
Zimmer Energy Transition Acquisition Corp. Class A Common Stock
ZT
| – | – |
-2,000,001
| Closed | -$20.3M |
|
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Covalis Capital's Q2 2023 Portfolio in Review
As of Q2 2023, Covalis Capital held 58 positions worth $466M, up 31% from $357M the previous quarter. Its ten largest holdings account for 60% of the portfolio.
Covalis Capital deployed $108M of net new capital in Q2 2023, opening 24 new positions and adding to 7 existing holdings. Its largest new stake was Cheniere Energy: 416,785 shares worth $63.5M.
By sector, the portfolio is most concentrated in Energy at 25% of assets, up from 15% a quarter earlier, followed by Industrials and Utilities.
On the sell side, the largest reduction was New Fortress Energy, an estimated $18.8M trimmed.
- Covalis Capital's largest Q2 2023 buy was Cheniere Energy: 416,785 shares worth $63.5M.
- Covalis Capital added most to PG&E in Q2 2023, an estimated $19.7M increase.
- Covalis Capital's biggest Q2 2023 reduction was New Fortress Energy, cutting an estimated $18.8M.
- Covalis Capital fully exited Enphase Energy in Q2 2023, selling an estimated $32.5M.
- Covalis Capital's ten largest holdings make up 60% of its $466M portfolio in Q2 2023.
- Covalis Capital opened 24 new positions and closed 18 in Q2 2023.
- Covalis Capital's portfolio value rose 31% quarter-over-quarter to $466M.
Based on Covalis Capital's 13F filing for Q2 2023, filed 14 Aug 2023.