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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
+2.44%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$615M
AUM Growth
+$49.8M
Cap. Flow
+$28.3M
Cap. Flow %
4.59%
Top 10 Hldgs %
51.48%
Holding
81
New
30
Increased
12
Reduced
13
Closed
25

Top Buys

Rank Stock Value
1
SHEL icon
Shell
SHEL
+$87.9M
2
FLNC icon
Fluence Energy
FLNC
+$23.8M
3
BB icon
BlackBerry
BB
+$21.9M
4
SHLS icon
Shoals Technologies Group
SHLS
+$14.8M
5
OXY icon
Occidental Petroleum
OXY
+$13M

Top Sells

Rank Stock Value
1
LICY
Li-Cycle Holdings Corp.
LICY
+$39.3M
2
PPL
PPL Corp
PPL
+$35.6M
3
SQM icon
Sociedad Química y Minera de Chile
SQM
+$30.6M
4
NRG icon
NRG Energy
NRG
+$19.5M
5
ES icon
Eversource Energy
ES
+$18.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 22.23%
2 Energy 20.89%
3 Utilities 19.11%
4 Technology 18.9%
5 Materials 9.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HSAI
51
Hesai Group
HSAI
$2.57B
$2.49M 0.4%
279,475
+189,571
+211% +$1.85M
HES
52
DELISTED
Hess
HES
$1.57M 0.26%
+10,922
New +$1.6M
ECVT icon
53
Ecovyst
ECVT
$1.32B
$1.47M 0.24%
150,022
– –
EVA
54
DELISTED
Enviva Inc.
EVA
$759K 0.12%
761,702
-1,200,874
-61% -$3.33M
GT icon
55
CALL
Goodyear
GT
$2.09B
$143K 0.02%
+10,000
New +$133K
OXY icon
56
CALL
Occidental Petroleum
OXY
$55.7B
$59.7K 0.01%
+1,000
New +$61K
ARRY icon
57
Array Technologies
ARRY
$740M
– –
-261,912
Closed -$5.81M
BG icon
58
Bunge Global
BG
$20.9B
– –
-17,914
Closed -$1.94M
CCK icon
59
Crown Holdings
CCK
$13B
– –
-32,035
Closed -$2.83M
DQ
60
Daqo New Energy
DQ
$810M
– –
-98,815
Closed -$2.99M
DTM icon
61
DT Midstream
DTM
$13.9B
– –
-95,939
Closed -$5.08M
EOSE icon
62
Eos Energy Enterprises
EOSE
$1.14B
– –
-2,000,000
Closed -$4.3M
ES icon
63
Eversource Energy
ES
$28.1B
– –
-320,681
Closed -$18.6M
EVRG icon
64
Evergy
EVRG
$19.4B
– –
-199,831
Closed -$10.1M
FLR icon
65
Fluor
FLR
$6.54B
– –
-124,202
Closed -$4.56M
GNRC icon
66
Generac Holdings
GNRC
$11.5B
– –
-48,440
Closed -$5.28M
HXL icon
67
Hexcel
HXL
$7.97B
– –
-94,355
Closed -$6.15M
LNG icon
68
Cheniere Energy
LNG
$54.2B
– –
-42,052
Closed -$6.98M
MOS icon
69
The Mosaic Company
MOS
$7.19B
– –
-269,470
Closed -$9.59M
NRG icon
70
NRG Energy
NRG
$26.2B
– –
-506,554
Closed -$19.5M
ON icon
71
ON Semiconductor
ON
$30.7B
– –
-26,582
Closed -$2.47M
SO icon
72
Southern Company
SO
$108B
– –
-199,961
Closed -$12.9M
SQM icon
73
Sociedad Química y Minera de Chile
SQM
$19.3B
– –
-513,642
Closed -$30.6M
TPIC
74
DELISTED
TPI Composites
TPIC
– –
-816,154
Closed -$2.16M
TRGP icon
75
Targa Resources
TRGP
$56.8B
– –
-92,690
Closed -$7.95M
1 2
3
4

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GIP
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SFG
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PRA
Pine Ridge Advisers New York $1.62B AUM 16.97% 1-Year Est. Return
SC
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SWA
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AIP
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KCM
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PCM
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Covalis Capital's Q4 2023 Portfolio in Review

As of Q4 2023, Covalis Capital held 81 positions worth $615M, up 8.8% from $565M the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Covalis Capital deployed $28.3M of net new capital in Q4 2023, opening 30 new positions and adding to 12 existing holdings. Its largest new stake was Shell: 1,339,313 shares worth $88.1M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 17% a quarter earlier, followed by Energy and Utilities.

On the sell side, the largest reduction was PPL Corp, an estimated $35.6M trimmed.

  • Covalis Capital's largest Q4 2023 buy was Shell: 1,339,313 shares worth $88.1M.
  • Covalis Capital added most to BlackBerry in Q4 2023, an estimated $21.9M increase.
  • Covalis Capital's biggest Q4 2023 reduction was PPL Corp, cutting an estimated $35.6M.
  • Covalis Capital fully exited Li-Cycle Holdings Corp. in Q4 2023, selling an estimated $39.3M.
  • Covalis Capital's ten largest holdings make up 51% of its $615M portfolio in Q4 2023.
  • Covalis Capital opened 30 new positions and closed 25 in Q4 2023.
  • Covalis Capital's portfolio value rose 8.8% quarter-over-quarter to $615M.

Based on Covalis Capital's 13F filing for Q4 2023, filed 14 Feb 2024.