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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
-3.55%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$528M
AUM Growth
-$156M
Cap. Flow
-$104M
Cap. Flow %
-19.61%
Top 10 Hldgs %
48.61%
Holding
93
New
32
Increased
8
Reduced
10
Closed
40

Top Buys

Rank Stock Value
1
CEG icon
Constellation Energy
CEG
+$27.1M
2
TRP icon
TC Energy
TRP
+$21.2M
3
DAN icon
Dana Inc
DAN
+$20.9M
4
F icon
Ford
F
+$15.5M
5
MTZ icon
MasTec
MTZ
+$15.4M

Top Sells

Rank Stock Value
1
PCG icon
PG&E
PCG
+$46.9M
2
ETR icon
Entergy
ETR
+$45.9M
3
MOS icon
The Mosaic Company
MOS
+$27M
4
VST icon
Vistra
VST
+$23.7M
5
AN icon
AutoNation
AN
+$22.7M

Sector Composition

Rank Sector Weight
1 Energy 25.84%
2 Consumer Discretionary 20.86%
3 Industrials 15.6%
4 Utilities 14.87%
5 Consumer Staples 3.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MOS icon
76
The Mosaic Company
MOS
$7.19B
– –
-1,099,707
Closed -$27M
NI icon
77
NiSource
NI
$21.5B
– –
-121,911
Closed -$4.48M
PHIN icon
78
Phinia Inc
PHIN
$3.04B
– –
-263,466
Closed -$12.7M
PNW icon
79
Pinnacle West Capital
PNW
$12.4B
– –
-80,508
Closed -$6.82M
PWR icon
80
Quanta Services
PWR
$84.2B
– –
-16,430
Closed -$5.19M
RTX icon
81
RTX Corp
RTX
$290B
– –
-12,587
Closed -$1.46M
SBSW icon
82
Sibanye-Stillwater
SBSW
$6.05B
– –
-262,279
Closed -$866K
SU icon
83
Suncor Energy
SU
$77.7B
– –
-368,696
Closed -$13.2M
TAC icon
84
TransAlta
TAC
$3.93B
– –
-283,336
Closed -$4.01M
TT icon
85
Trane Technologies
TT
$98.8B
– –
-10,007
Closed -$3.7M
VST icon
86
Vistra
VST
$48.2B
– –
-171,625
Closed -$23.7M
TLN
87
Talen Energy Corp
TLN
$15.1B
– –
-72,951
Closed -$14.7M
TEM
88
Tempus AI
TEM
$7.48B
– –
-50,000
Closed -$1.69M
OS
89
DELISTED
OneStream Inc
OS
– –
-85,000
Closed -$2.42M
TXNM
90
TXNM Energy Inc
TXNM
$6.39B
– –
-323,378
Closed -$15.9M
SNRE
91
DELISTED
Sunrise Communications AG American Depositary Shares representing Class A shares
SNRE
– –
-198,043
Closed -$8.53M
XIFR
92
XPLR Infrastructure LP
XIFR
$1.04B
– –
-133,404
Closed -$2.37M
TPC
93
Tutor Perini Cor
TPC
$4.03B
– –
-68,835
Closed -$1.67M
1 2 3
4

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PRA
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Covalis Capital's Q1 2025 Portfolio in Review

As of Q1 2025, Covalis Capital held 93 positions worth $528M, down 23% from $684M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Covalis Capital withdrew a net $104M in Q1 2025, closing 40 positions and reducing 10 holdings. Its most notable exit was Entergy, an estimated $45.9M position sold in full.

By sector, the portfolio is most concentrated in Energy at 26% of assets, up from 16% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Covalis Capital opened a new position in Constellation Energy worth $20.4M.

  • Covalis Capital's largest Q1 2025 buy was Constellation Energy: 100,980 shares worth $20.4M.
  • Covalis Capital added most to TC Energy in Q1 2025, an estimated $21.2M increase.
  • Covalis Capital's biggest Q1 2025 reduction was PG&E, cutting an estimated $46.9M.
  • Covalis Capital fully exited Entergy in Q1 2025, selling an estimated $45.9M.
  • Covalis Capital's ten largest holdings make up 49% of its $528M portfolio in Q1 2025.
  • Covalis Capital opened 32 new positions and closed 40 in Q1 2025.
  • Covalis Capital's portfolio value fell 23% quarter-over-quarter to $528M.

Based on Covalis Capital's 13F filing for Q1 2025, filed 15 May 2025.