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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
-5.47%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$235M
AUM Growth
-$26.4M
Cap. Flow
-$18.1M
Cap. Flow %
-7.69%
Top 10 Hldgs %
89.35%
Holding
21
New
10
Increased
2
Reduced
3
Closed
4

Top Buys

Rank Stock Value
1
FE icon
FirstEnergy
FE
+$18.7M
2
ENIA
Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock)
ENIA
+$12.8M
3
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
+$12.7M
4
SBS icon
Sabesp
SBS
+$11.5M
5
PPL
PPL Corp
PPL
+$8.5M

Top Sells

Rank Stock Value
1
EIX icon
Edison International
EIX
+$37.8M
2
PCG icon
PG&E
PCG
+$35.9M
3
CXO
CONCHO RESOURCES INC.
CXO
+$15.5M
4
PXD
Pioneer Natural Resource Co.
PXD
+$8.15M
5
OTIS icon
Otis Worldwide
OTIS
+$8.01M

Sector Composition

Rank Sector Weight
1 Utilities 80.16%
2 Energy 8.71%
3 Materials 5.11%
4 Consumer Discretionary 3.5%
5 Industrials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EVRG icon
1
Evergy
EVRG
$19.4B
$47.2M 20.04%
927,931
+32,315
+4% +$1.81M
PCG icon
2
PG&E
PCG
$39B
$43M 18.26%
4,575,529
-3,879,634
-46% -$35.9M
EIX icon
3
Edison International
EIX
$30.3B
$37.6M 15.97%
739,124
-709,280
-49% -$37.8M
RDS.B
4
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
$20.2M 8.58%
833,525
+443,790
+114% +$12.7M
FE icon
5
FirstEnergy
FE
$28.4B
$17.1M 7.27%
+596,193
New +$18.7M
ENIA
6
DELISTED
Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock)
ENIA
$11.4M 4.83%
+1,758,177
New +$12.8M
SBS icon
7
Sabesp
SBS
$18.4B
$9.51M 4.04%
+5,909,942
New +$11.5M
PPL
8
PPL Corp
PPL
$26.9B
$8.58M 3.64%
+315,208
New +$8.5M
WHR icon
9
Whirlpool
WHR
$2.49B
$8.24M 3.5%
+44,795
New +$7.44M
NGG icon
10
National Grid
NGG
$79.3B
$7.58M 3.22%
+148,368
New +$7.45M
VALE icon
11
Vale
VALE
$62.3B
– –
-240,615
Closed -$2.7M
TXNM
12
TXNM Energy Inc
TXNM
$6.39B
$5.64M 2.4%
+136,507
New +$5.69M
HYG icon
13
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$5.6M 2.38%
66,782
– –
MOS icon
14
The Mosaic Company
MOS
$7.19B
$2.56M 1.09%
+140,297
New +$2.28M
NTR icon
15
Nutrien
NTR
$33.9B
$2.39M 1.01%
+60,862
New +$2.22M
UGI icon
16
UGI
UGI
$7.87B
$1.17M 0.5%
35,376
– –
CXO
17
DELISTED
CONCHO RESOURCES INC.
CXO
$321K 0.14%
7,284
-311,739
-98% -$15.5M
TELL
18
DELISTED
Tellurian Inc.
TELL
$306K 0.13%
+384,122
New +$359K
BIL icon
19
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.1B
– –
-16,386
Closed -$1.5M
OTIS icon
20
Otis Worldwide
OTIS
$27.9B
– –
-140,892
Closed -$8.01M
PXD
21
DELISTED
Pioneer Natural Resource Co.
PXD
– –
-83,378
Closed -$8.15M

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GIP
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SFG
Sather Financial Group Victoria, Texas $1.63B AUM 12.6% 1-Year Est. Return
PRA
Pine Ridge Advisers New York $1.62B AUM 16.97% 1-Year Est. Return
SC
SRB Corp Boston, Massachusetts $1.63B AUM 20.77% 1-Year Est. Return
SWA
Stratos Wealth Advisors Beachwood, Ohio $1.63B AUM 16.33% 1-Year Est. Return
AIP
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KCM
Kynam Capital Management Princeton, New Jersey $1.62B AUM 138.67% 1-Year Est. Return
PCM
Philosophy Capital Management Alamo, California $1.63B AUM 12.69% 1-Year Est. Return

Covalis Capital's Q3 2020 Portfolio in Review

As of Q3 2020, Covalis Capital held 21 positions worth $235M, down 10% from $262M the previous quarter. Its ten largest holdings account for 89% of the portfolio.

Covalis Capital withdrew a net $18.1M in Q3 2020, closing 4 positions and reducing 3 holdings. Its most notable exit was Pioneer Natural Resource Co., an estimated $8.15M position sold in full.

By sector, the portfolio is most concentrated in Utilities at 80% of assets, up from 79% a quarter earlier, followed by Energy and Materials.

Against the trend, Covalis Capital opened a new position in FirstEnergy worth $17.1M.

  • Covalis Capital's largest Q3 2020 buy was FirstEnergy: 596,193 shares worth $17.1M.
  • Covalis Capital added most to Royal Dutch Shell PLC ADS Class B in Q3 2020, an estimated $12.7M increase.
  • Covalis Capital's biggest Q3 2020 reduction was Edison International, cutting an estimated $37.8M.
  • Covalis Capital fully exited Pioneer Natural Resource Co. in Q3 2020, selling an estimated $8.15M.
  • Covalis Capital's ten largest holdings make up 89% of its $235M portfolio in Q3 2020.
  • Covalis Capital opened 10 new positions and closed 4 in Q3 2020.
  • Covalis Capital's portfolio value fell 10% quarter-over-quarter to $235M.

Based on Covalis Capital's 13F filing for Q3 2020, filed 16 Nov 2020.