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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
+2.29%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$810M
AUM Growth
+$195M
Cap. Flow
+$182M
Cap. Flow %
22.47%
Top 10 Hldgs %
65.03%
Holding
83
New
27
Increased
16
Reduced
9
Closed
31

Top Buys

Rank Stock Value
1
NEE icon
NextEra Energy
NEE
+$98.5M
2
PCG icon
PG&E
PCG
+$88.2M
3
OKE icon
Oneok
OKE
+$59.1M
4
NI icon
NiSource
NI
+$52.7M
5
CVE icon
Cenovus Energy
CVE
+$32.3M

Top Sells

Rank Stock Value
1
SHEL icon
Shell
SHEL
+$79.5M
2
FSLR icon
First Solar
FSLR
+$45.5M
3
SHLS icon
Shoals Technologies Group
SHLS
+$22.1M
4
SEE
Sealed Air
SEE
+$14.2M
5
MP icon
MP Materials
MP
+$13.5M

Sector Composition

Rank Sector Weight
1 Utilities 49.3%
2 Energy 20.42%
3 Consumer Discretionary 13.97%
4 Industrials 7.05%
5 Technology 4.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SHLS icon
76
Shoals Technologies Group
SHLS
$1.47B
– –
-1,419,917
Closed -$22.1M
SHW icon
77
Sherwin-Williams
SHW
$82.7B
– –
-8,219
Closed -$2.56M
TROX icon
78
Tronox
TROX
$932M
– –
-368,638
Closed -$5.22M
UBER icon
79
Uber
UBER
$143B
– –
-44,392
Closed -$2.73M
ULCC icon
80
Frontier Group Holdings
ULCC
$1.55B
– –
-559,384
Closed -$3.05M
TXNM
81
TXNM Energy Inc
TXNM
$6.41B
– –
-250,911
Closed -$10.4M
BERY
82
DELISTED
Berry Global Group, Inc.
BERY
– –
-60,374
Closed -$3.74M
EVA
83
DELISTED
Enviva Inc.
EVA
– –
-761,702
Closed -$759K
1 2 3
4

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SC
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SWA
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AIP
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KCM
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Covalis Capital's Q1 2024 Portfolio in Review

As of Q1 2024, Covalis Capital held 83 positions worth $810M, up 32% from $615M the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Covalis Capital deployed $182M of net new capital in Q1 2024, opening 27 new positions and adding to 16 existing holdings. Its largest new stake was NiSource: 2,004,920 shares worth $55.5M.

By sector, the portfolio is most concentrated in Utilities at 49% of assets, up from 19% a quarter earlier, followed by Energy and Consumer Discretionary.

On the sell side, the largest reduction was Shell, an estimated $79.5M trimmed.

  • Covalis Capital's largest Q1 2024 buy was NiSource: 2,004,920 shares worth $55.5M.
  • Covalis Capital added most to NextEra Energy in Q1 2024, an estimated $98.5M increase.
  • Covalis Capital's biggest Q1 2024 reduction was Shell, cutting an estimated $79.5M.
  • Covalis Capital fully exited Shoals Technologies Group in Q1 2024, selling an estimated $22.1M.
  • Covalis Capital's ten largest holdings make up 65% of its $810M portfolio in Q1 2024.
  • Covalis Capital opened 27 new positions and closed 31 in Q1 2024.
  • Covalis Capital's portfolio value rose 32% quarter-over-quarter to $810M.

Based on Covalis Capital's 13F filing for Q1 2024, filed 15 May 2024.