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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
+9.16%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$466M
AUM Growth
+$231M
(+98%)
Cap. Flow
+$222M
Cap. Flow
% of AUM
47.67%
Top 10 Holdings %
Top 10 Hldgs %
90.1%
Holding
33
New
16
Increased
3
Reduced
1
Closed
13
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
|
+$104M |
| 2 |
Dominion Energy
D
|
+$56.1M |
| 3 |
PPL
PPL Corp
PPL
|
+$46.3M |
| 4 |
Vale
VALE
|
+$31.2M |
| 5 |
ETRN
Equitrans Midstream Corporation Common Stock
ETRN
|
+$30.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
PG&E
PCG
|
+$43M |
| 2 |
Edison International
EIX
|
+$37.6M |
| 3 |
RDS.B
Royal Dutch Shell PLC ADS Class B
RDS.B
|
+$20.2M |
| 4 |
FirstEnergy
FE
|
+$17.1M |
| 5 |
Whirlpool
WHR
|
+$8.24M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Utilities | 46.34% |
| 2 | Materials | 18.01% |
| 3 | Energy | 9.5% |
| 4 | Healthcare | 1.68% |
| 5 | Financials | 0.38% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$47.1B
| $104M | 22.27% |
+1,133,618
| New | +$104M |
|
2
Evergy
EVRG
$19.4B
| $72.8M | 15.62% |
1,311,028
+383,097
| +41% | +$21M |
|
|
PPL
3
PPL Corp
PPL
$26.9B
| $54.9M | 11.79% |
1,947,932
+1,632,724
| +518% | +$46.3M |
|
|
4
Dominion Energy
D
$62B
| $53.1M | 11.41% |
+706,630
| New | +$56.1M |
|
|
5
Vale
VALE
$62.3B
| $39.2M | 8.42% |
+2,340,202
| New | +$31.2M |
|
|
ETRN
6
DELISTED
Equitrans Midstream Corporation Common Stock
ETRN
| $30.9M | 6.63% |
+3,842,502
| New | +$30.7M |
|
7
FMC
FMC
$1.25B
| $21.8M | 4.69% |
+190,008
| New | +$21.2M |
|
8
Sempra
SRE
$58.1B
| $18.4M | 3.96% |
+289,398
| New | +$18.6M |
|
9
Ashland
ASH
$3.34B
| $14.1M | 3.03% |
+178,016
| New | +$13.5M |
|
10
Sabesp
SBS
$18.4B
| $10.7M | 2.3% |
6,424,878
+514,936
| +9% | +$835K |
|
11
Equinor
EQNR
$97.3B
| $9.31M | 2% |
+566,893
| New | +$8.57M |
|
12
Axalta
AXTA
$7.45B
| $8.73M | 1.87% |
+305,820
| New | +$8.33M |
|
13
Sotera Health
SHC
$5B
| $7.62M | 1.64% |
+277,730
| New | +$7.46M |
|
14
iShares 0-1 Year Treasury Bond ETF
SHV
$20.8B
| $6.99M | 1.5% |
+63,274
| New | +$7M |
|
|
ENIA
15
DELISTED
Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock)
ENIA
| $5.94M | 1.27% |
722,271
-1,035,906
| -59% | -$7.56M |
|
16
Golar LNG
GLNG
$4.82B
| $4.07M | 0.87% |
+421,940
| New | +$3.67M |
|
|
ROCH
17
DELISTED
Roth CH Acquisition I Co. Common Stock
ROCH
| $1.77M | 0.38% |
+109,802
| New | +$1.29M |
|
|
LOGC
18
DELISTED
ContextLogic
LOGC
| $856K | 0.18% |
+1,563
| New | +$965K |
|
|
MRACU
19
DELISTED
Marquee Raine Acquisition Corp. Unit
MRACU
| $650K | 0.14% |
+60,000
| New | +$641K |
|
20
AbCellera Biologics
ABCL
$1.65B
| $201K | 0.04% |
+5,000
| New | +$229K |
|
|
21
Edison International
EIX
$30.3B
| – | – |
-739,124
| Closed | -$37.6M |
|
|
22
FirstEnergy
FE
$28.4B
| – | – |
-596,193
| Closed | -$17.1M |
|
23
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| – | – |
-66,782
| Closed | -$5.6M |
|
24
The Mosaic Company
MOS
$7.19B
| – | – |
-140,297
| Closed | -$2.56M |
|
25
National Grid
NGG
$79.3B
| – | – |
-148,368
| Closed | -$7.58M |
|
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Covalis Capital's Q4 2020 Portfolio in Review
As of Q4 2020, Covalis Capital held 33 positions worth $466M, up 98% from $235M the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Covalis Capital deployed $222M of net new capital in Q4 2020, opening 16 new positions and adding to 3 existing holdings. Its largest new stake was State Street SPDR Bloomberg 1-3 Month T-Bill ETF: 1,133,618 shares worth $104M.
By sector, the portfolio is most concentrated in Utilities at 46% of assets, down from 80% a quarter earlier, followed by Materials and Energy.
On the sell side, the largest reduction was Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock), an estimated $7.56M trimmed.
- Covalis Capital's largest Q4 2020 buy was State Street SPDR Bloomberg 1-3 Month T-Bill ETF: 1,133,618 shares worth $104M.
- Covalis Capital added most to PPL Corp in Q4 2020, an estimated $46.3M increase.
- Covalis Capital's biggest Q4 2020 reduction was Enel Amricas S.A. American Depositary Shares (Each representing 50 shares of Common Stock), cutting an estimated $7.56M.
- Covalis Capital fully exited PG&E in Q4 2020, selling an estimated $43M.
- Covalis Capital's ten largest holdings make up 90% of its $466M portfolio in Q4 2020.
- Covalis Capital opened 16 new positions and closed 13 in Q4 2020.
- Covalis Capital's portfolio value rose 98% quarter-over-quarter to $466M.
Based on Covalis Capital's 13F filing for Q4 2020, filed 16 Feb 2021.