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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
+7.42%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$823M
AUM Growth
+$294M
(+56%)
Cap. Flow
+$261M
Cap. Flow
% of AUM
31.74%
Top 10 Holdings %
Top 10 Hldgs %
50.84%
Holding
90
New
37
Increased
11
Reduced
9
Closed
33
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
PG&E
PCG
|
+$129M |
| 2 |
Eversource Energy
ES
|
+$69.1M |
| 3 |
PACCAR
PCAR
|
+$29.7M |
| 4 |
Caterpillar
CAT
|
+$28.8M |
| 5 |
PPG Industries
PPG
|
+$19.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BP
BP
|
+$23.1M |
| 2 |
Constellation Energy
CEG
|
+$20.4M |
| 3 |
BKV
BKV Corp
BKV
|
+$16.2M |
| 4 |
MasTec
MTZ
|
+$15.7M |
| 5 |
Public Service Enterprise Group
PEG
|
+$15.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Utilities | 30.67% |
| 2 | Industrials | 20.31% |
| 3 | Consumer Discretionary | 17.64% |
| 4 | Energy | 9.69% |
| 5 | Materials | 5.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
76
Kodiak Gas Services
KGS
$6.5B
| – | – |
-145,163
| Closed | -$5.41M |
|
77
Kimbell Royalty Partners
KRP
$1.48B
| – | – |
-75,000
| Closed | -$1.05M |
|
78
Lithia Motors
LAD
$7.42B
| – | – |
-42,972
| Closed | -$12.6M |
|
79
Magna International
MGA
$18B
| – | – |
-144,011
| Closed | -$4.89M |
|
80
MYR Group
MYRG
$6.08B
| – | – |
-7,831
| Closed | -$886K |
|
81
O-I Glass
OI
$1.37B
| – | – |
-197,679
| Closed | -$2.27M |
|
82
CALL
Tesla
TSLA
$1.39T
| – | – |
-65,000
| Closed | -$16.8M |
|
83
WEC Energy
WEC
$36.7B
| – | – |
-3,282
| Closed | -$358K |
|
84
YPF
YPF
$19.8B
| – | – |
-197,118
| Closed | -$6.91M |
|
85
GE Vernova
GEV
$290B
| – | – |
-27,752
| Closed | -$8.47M |
|
|
INR
86
Infinity Natural Resources
INR
$244M
| – | – |
-165,862
| Closed | -$3.11M |
|
|
SW
87
Smurfit Westrock
SW
$22.6B
| – | – |
-194,593
| Closed | -$8.77M |
|
|
BKV
88
BKV Corp
BKV
$2.78B
| – | – |
-769,444
| Closed | -$16.2M |
|
|
SARO
89
StandardAero Inc
SARO
$8.86B
| – | – |
-26,431
| Closed | -$704K |
|
|
SAIL
90
SailPoint Inc
SAIL
$8.63B
| – | – |
-40,500
| Closed | -$759K |
|
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Covalis Capital's Q2 2025 Portfolio in Review
As of Q2 2025, Covalis Capital held 90 positions worth $823M, up 56% from $528M the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Covalis Capital deployed $261M of net new capital in Q2 2025, opening 37 new positions and adding to 11 existing holdings. Its largest new stake was Eversource Energy: 1,121,926 shares worth $71.4M.
By sector, the portfolio is most concentrated in Utilities at 31% of assets, up from 15% a quarter earlier, followed by Industrials and Consumer Discretionary.
On the sell side, the largest reduction was MasTec, an estimated $15.7M trimmed.
- Covalis Capital's largest Q2 2025 buy was Eversource Energy: 1,121,926 shares worth $71.4M.
- Covalis Capital added most to PG&E in Q2 2025, an estimated $129M increase.
- Covalis Capital's biggest Q2 2025 reduction was MasTec, cutting an estimated $15.7M.
- Covalis Capital fully exited BP in Q2 2025, selling an estimated $23.1M.
- Covalis Capital's ten largest holdings make up 51% of its $823M portfolio in Q2 2025.
- Covalis Capital opened 37 new positions and closed 33 in Q2 2025.
- Covalis Capital's portfolio value rose 56% quarter-over-quarter to $823M.
Based on Covalis Capital's 13F filing for Q2 2025, filed 12 Aug 2025.