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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
+1.2%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$274M
AUM Growth
-$159M
Cap. Flow
-$158M
Cap. Flow %
-57.82%
Top 10 Hldgs %
63.54%
Holding
137
New
14
Increased
3
Reduced
7
Closed
54

Top Buys

Rank Stock Value
1
EMN icon
Eastman Chemical
EMN
+$25.4M
2
EXC icon
Exelon
EXC
+$20.8M
3
LICY
Li-Cycle Holdings Corp.
LICY
+$17.5M
4
SOL
Emeren Group
SOL
+$8.46M
5
TIMB icon
TIM SA
TIMB
+$7.72M

Top Sells

Rank Stock Value
1
PCG icon
PG&E
PCG
+$40M
2
IFF icon
International Flavors & Fragrances
IFF
+$21.5M
3
HUN icon
Huntsman Corp
HUN
+$19.6M
4
DAL icon
Delta Air Lines
DAL
+$19.2M
5
XEL icon
Xcel Energy
XEL
+$15.3M

Sector Composition

Rank Sector Weight
1 Financials 26.35%
2 Industrials 17.63%
3 Technology 12.48%
4 Materials 12.12%
5 Utilities 8.32%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SBS icon
101
Sabesp
SBS
$18.4B
– –
-3,766,566
Closed -$5.17M
SRAD icon
102
Sportradar
SRAD
$4.42B
– –
-350,820
Closed -$7.94M
XEL icon
103
Xcel Energy
XEL
$49.2B
– –
-245,012
Closed -$15.3M
MOND
104
DELISTED
Mondee Holdings, Inc. Class A Common Stock
MOND
– –
-50,000
Closed -$488K
JWSM
105
DELISTED
Jaws Mustang Acquisition Corp.
JWSM
– –
-300,000
Closed -$2.93M
GETR
106
DELISTED
Getaround, Inc.
GETR
– –
-200,000
Closed -$1.96M
CSTA
107
DELISTED
Constellation Acquisition Corp I
CSTA
– –
-25,000
Closed -$244K
IPVF.WS
108
DELISTED
InterPrivate III Financial Partners Inc. Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 per share
IPVF.WS
– –
-39,999
Closed -$201K
FSRX
109
DELISTED
FinServ Acquisition Corp. II Class A Common Stock
FSRX
– –
-20,000
Closed -$195K
AAC
110
DELISTED
Ares Acquisition Corporation
AAC
– –
-500,000
Closed -$4.87M
NSTD.WS
111
DELISTED
Northern Star Investment Corp. IV Redeemable Warrants, each whole warrant exercisable for shares of Class A common stock at an exercise price of $11.50 per share
NSTD.WS
– –
-16,665
Closed -$74K
ATAQ
112
DELISTED
Altimar Acquisition Corp III
ATAQ
– –
-50,000
Closed -$487K
WAVC.U
113
DELISTED
Waverley Capital Acquisition Corp. 1 Units, each consisting of one Class A Ordinary Share and one-third of one redeemable warrant
WAVC.U
– –
-500,000
Closed -$4.93M
UNVR
114
DELISTED
Univar Solutions Inc.
UNVR
– –
-222,094
Closed -$5.29M
AQUA
115
DELISTED
Evoqua Water Technologies Corp. Common Stock
AQUA
– –
-57,795
Closed -$2.17M
ALTIW
116
DELISTED
AlTi Global Inc Warrant
ALTIW
– –
-33,333
Closed -$158K
FRSG
117
DELISTED
First Reserve Sustainable Growth Corp. Class A Common Stock
FRSG
– –
-17,600
Closed -$174K
SVFA
118
DELISTED
SVF Investment Corp. Class A Ordinary Shares
SVFA
– –
-100,000
Closed -$976K
SVFAW
119
DELISTED
SVF Investment Corp. Warrant
SVFAW
– –
-19,998
Closed -$91K
POW
120
DELISTED
Powered Brands Class A Ordinary Shares
POW
– –
-50,000
Closed -$492K
CORZW
121
DELISTED
Core Scientific, Inc. Warrant
CORZW
– –
-37,498
Closed -$228K
HUGS
122
DELISTED
USHG Acquisition Corp.
HUGS
– –
-54,520
Closed -$529K
RXRA
123
DELISTED
RXR Acquisition Corp. Class A Common Stock
RXRA
– –
-50,000
Closed -$486K
SSAA
124
DELISTED
Science Strategic Acquisition Corp. Alpha Class A Common Stock
SSAA
– –
-70,000
Closed -$680K
NDAC
125
DELISTED
NightDragon Acquisition Corp. Class A Common stock
NDAC
– –
-95,813
Closed -$936K
2 3 4
5
6

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Covalis Capital's Q4 2021 Portfolio in Review

As of Q4 2021, Covalis Capital held 137 positions worth $274M, down 37% from $433M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Covalis Capital withdrew a net $158M in Q4 2021, closing 54 positions and reducing 7 holdings. Its most notable exit was PG&E, an estimated $40M position sold in full.

By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 21% a quarter earlier, followed by Industrials and Technology.

Against the trend, Covalis Capital opened a new position in Eastman Chemical worth $27.6M.

  • Covalis Capital's largest Q4 2021 buy was Eastman Chemical: 228,472 shares worth $27.6M.
  • Covalis Capital added most to Li-Cycle Holdings Corp. in Q4 2021, an estimated $17.5M increase.
  • Covalis Capital's biggest Q4 2021 reduction was International Flavors & Fragrances, cutting an estimated $21.5M.
  • Covalis Capital fully exited PG&E in Q4 2021, selling an estimated $40M.
  • Covalis Capital's ten largest holdings make up 64% of its $274M portfolio in Q4 2021.
  • Covalis Capital opened 14 new positions and closed 54 in Q4 2021.
  • Covalis Capital's portfolio value fell 37% quarter-over-quarter to $274M.

Based on Covalis Capital's 13F filing for Q4 2021, filed 14 Feb 2022.