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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
-3.5%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$40.6M
AUM Growth
-$169M
(-81%)
Cap. Flow
-$169M
Cap. Flow
% of AUM
-416.62%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
27
New
3
Increased
–
Reduced
2
Closed
22
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
|
+$26.2M |
| 2 |
AY
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
|
+$3.27M |
| 3 |
iShares MSCI Emerging Markets ETF
EEM
|
+$1.46M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street Utilities Select Sector SPDR ETF
XLU
|
+$27.5M |
| 2 |
American Electric Power
AEP
|
+$17.2M |
| 3 |
Entergy
ETR
|
+$15M |
| 4 |
Evergy
EVRG
|
+$14.9M |
| 5 |
NiSource
NI
|
+$14.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Utilities | 30.9% |
| 2 | Consumer Staples | 0% |
| 3 | Industrials | 0% |
| 4 | Materials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| $25.4M | 62.45% |
+313,000
| New | +$26.2M |
|
|
AGR
2
DELISTED
Avangrid, Inc.
AGR
| $9.32M | 22.94% |
186,120
-267,878
| -59% | -$13.2M |
|
|
AY
3
DELISTED
Atlantica Sustainable Infrastructure plc Ordinary Shares
AY
| $3.23M | 7.96% |
+165,091
| New | +$3.27M |
|
|
4
iShares MSCI Emerging Markets ETF
EEM
$27.5B
| $1.42M | 3.5% |
+36,359
| New | +$1.46M |
|
|
5
State Street Utilities Select Sector SPDR ETF
XLU
$23.1B
| $1.28M | 3.15% |
48,422
-1,011,582
| -95% | -$27.5M |
|
|
6
American Electric Power
AEP
$70.4B
| – | – |
-242,508
| Closed | -$17.2M |
|
|
ALE
7
DELISTED
Allete
ALE
| – | – |
-44,651
| Closed | -$3.35M |
|
8
BHP
BHP
$211B
| – | – |
-22,756
| Closed | -$1.01M |
|
9
Commercial Metals
CMC
$7.53B
| – | – |
-115,386
| Closed | -$2.37M |
|
10
CMS Energy
CMS
$23B
| – | – |
-202,215
| Closed | -$9.91M |
|
11
CenterPoint Energy
CNP
$28.3B
| – | – |
-379,392
| Closed | -$10.5M |
|
12
Edison International
EIX
$30.3B
| – | – |
-78,018
| Closed | -$5.28M |
|
|
13
Entergy
ETR
$50.3B
| – | – |
-369,184
| Closed | -$15M |
|
|
14
Evergy
EVRG
$19.4B
| – | – |
-270,640
| Closed | -$14.9M |
|
15
FirstEnergy
FE
$28.4B
| – | – |
-272,825
| Closed | -$10.1M |
|
|
16
NiSource
NI
$21.5B
| – | – |
-586,648
| Closed | -$14.6M |
|
17
PG&E
PCG
$39B
| – | – |
-120,168
| Closed | -$5.53M |
|
18
Public Service Enterprise Group
PEG
$38.7B
| – | – |
-167,635
| Closed | -$8.85M |
|
19
Philip Morris
PM
$309B
| – | – |
-9,650
| Closed | -$787K |
|
20
Rio Tinto
RIO
$152B
| – | – |
-19,523
| Closed | -$996K |
|
21
ProShares UltraPro Short S&P 500
SPXU
$435M
| – | – |
-358
| Closed | -$1.15M |
|
22
Sempra
SRE
$58.1B
| – | – |
-173,436
| Closed | -$9.86M |
|
23
Teck Resources
TECK
$28.2B
| – | – |
-391,470
| Closed | -$9.44M |
|
|
TMQ
24
Trilogy Metals
TMQ
$504M
| – | – |
-158,783
| Closed | -$318K |
|
|
X
25
DELISTED
US Steel
X
| – | – |
-87,405
| Closed | -$2.66M |
|
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Covalis Capital's Q4 2018 Portfolio in Review
As of Q4 2018, Covalis Capital held 27 positions worth $40.6M, down 81% from $209M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Covalis Capital withdrew a net $169M in Q4 2018, closing 22 positions and reducing 2 holdings. Its most notable exit was American Electric Power, an estimated $17.2M position sold in full.
By sector, the portfolio is most concentrated in Utilities at 31% of assets, down from 78% a quarter earlier, followed by Consumer Staples and Industrials.
Against the trend, Covalis Capital opened a new position in iShares iBoxx $ High Yield Corporate Bond ETF worth $25.4M.
- Covalis Capital's largest Q4 2018 buy was iShares iBoxx $ High Yield Corporate Bond ETF: 313,000 shares worth $25.4M.
- Covalis Capital's biggest Q4 2018 reduction was State Street Utilities Select Sector SPDR ETF, cutting an estimated $27.5M.
- Covalis Capital fully exited American Electric Power in Q4 2018, selling an estimated $17.2M.
- Covalis Capital's ten largest holdings make up 100% of its $40.6M portfolio in Q4 2018.
- Covalis Capital opened 3 new positions and closed 22 in Q4 2018.
- Covalis Capital's portfolio value fell 81% quarter-over-quarter to $40.6M.
Based on Covalis Capital's 13F filing for Q4 2018, filed 4 Mar 2019.