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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
LICY
1
DELISTED
Li-Cycle Holdings Corp.
LICY
$43.4M 15.84%
544,435
+185,026
+51% +$17.5M
EMN icon
2
Eastman Chemical
EMN
$7.69B
$27.6M 10.09%
+228,472
New +$25.4M
EXC icon
3
Exelon
EXC
$48.1B
$22.8M 8.32%
+553,201
New +$20.8M
ZT
4
DELISTED
Zimmer Energy Transition Acquisition Corp. Class A Common Stock
ZT
$19.6M 7.17%
2,000,000
– –
DCRN
5
DELISTED
Decarbonization Plus Acquisition Corporation II Class A Common stock
DCRN
$12.6M 4.6%
1,264,091
– –
AISP
6
Airship AI Holdings
AISP
$58.9M
$11.3M 4.11%
1,150,000
– –
MBAC
7
DELISTED
M3-Brigade Acquisition II Corp.
MBAC
$9.91M 3.62%
1,000,000
– –
PDOT
8
DELISTED
Peridot Acquisition Corp. II
PDOT
$9.73M 3.55%
1,000,000
– –
DSEY
9
DELISTED
Diversey Holdings, Ltd. Ordinary Shares
DSEY
$9.14M 3.34%
686,522
+238,503
+53% +$3.56M
TIMB icon
10
TIM SA
TIMB
$9.1B
$7.92M 2.89%
+680,792
New +$7.72M
SOL
11
DELISTED
Emeren Group
SOL
$7.05M 2.58%
+1,183,638
New +$8.46M
PNTM
12
DELISTED
Pontem Corporation
PNTM
$6.86M 2.51%
700,000
– –
HYG icon
13
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$5.81M 2.12%
+66,782
New +$5.79M
IFF icon
14
International Flavors & Fragrances
IFF
$20.3B
$5.57M 2.03%
36,941
-147,874
-80% -$21.5M
RKTA
15
DELISTED
Rocket Internet Growth Opportunities Corp.
RKTA
$4.9M 1.79%
500,000
– –
LVRA
16
DELISTED
Levere Holdings Corp. Class A Ordinary Shares
LVRA
$4.87M 1.78%
500,000
– –
FSNB
17
DELISTED
Fusion Acquisition Corp. II
FSNB
$4.85M 1.77%
500,000
– –
WAVC
18
DELISTED
Waverley Capital Acquisition Corp. 1
WAVC
$4.85M 1.77%
+500,000
New +$4.87M
SES icon
19
SES AI
SES
$187M
$4.33M 1.58%
434,753
+157,823
+57% +$1.61M
ZTAQW
20
DELISTED
Zimmer Energy Transition Acquisition Corp. Warrants
ZTAQW
$3.1M 1.13%
666,666
– –
IPVI
21
DELISTED
InterPrivate IV InfraTech Partners Inc. Class A Common Stock
IPVI
$2.93M 1.07%
300,000
– –
AILE
22
DELISTED
iLearningEngines, Inc. Common Stock
AILE
$2.91M 1.06%
300,000
– –
VLTA
23
DELISTED
Volta Inc.
VLTA
$2.81M 1.03%
+383,459
New +$3.37M
LGAC
24
DELISTED
Lazard Growth Acquisition Corp. I Ordinary Shares
LGAC
$2.43M 0.89%
250,000
– –
AISPW
25
Airship AI Holdings Warrants
AISPW
$12.2M
$2.38M 0.87%
574,999
– –
1
2 3 4 5

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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.