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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
TSN icon
76
Tyson Foods
TSN
$21.5B
– –
-83,519
Closed -$4.22M
UGI icon
77
UGI
UGI
$7.87B
– –
-707,774
Closed -$16.3M
WCC
78
WESCO International
WCC
$15.1B
– –
-6,519
Closed -$938K
XEL icon
79
Xcel Energy
XEL
$49.2B
– –
-166,778
Closed -$9.54M
LICY
80
DELISTED
Li-Cycle Holdings Corp.
LICY
– –
-1,382,158
Closed -$39.3M
LTHM
81
DELISTED
Livent Corporation
LTHM
– –
-766,964
Closed -$14.1M
1 2 3
4

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PRA
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SC
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SWA
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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.