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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
-2.26%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$357M
AUM Growth
-$66.1M
(-16%)
Cap. Flow
-$46.2M
Cap. Flow
% of AUM
-12.95%
Top 10 Holdings %
Top 10 Hldgs %
71.62%
Holding
64
New
14
Increased
9
Reduced
8
Closed
30
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
New Fortress Energy
NFE
|
+$35.5M |
| 2 |
Enphase Energy
ENPH
|
+$33.5M |
| 3 |
Dow Inc
DOW
|
+$10.5M |
| 4 |
Axalta
AXTA
|
+$8.29M |
| 5 |
Ecolab
ECL
|
+$8.11M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Eversource Energy
ES
|
+$32M |
| 2 |
Entergy
ETR
|
+$20.3M |
| 3 |
CMS Energy
CMS
|
+$12.1M |
| 4 |
AISP
Airship AI Holdings
AISP
|
+$11.6M |
| 5 |
GTLS
Chart Industries
GTLS
|
+$10.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 26.49% |
| 2 | Materials | 15.93% |
| 3 | Utilities | 15.36% |
| 4 | Energy | 15.1% |
| 5 | Technology | 10.93% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
LICY
1
DELISTED
Li-Cycle Holdings Corp.
LICY
| $70.2M | 19.69% |
1,559,053
+157,471
| +11% | +$6.95M |
|
|
2
New Fortress Energy
NFE
$92.9M
| $46.6M | 13.06% |
1,582,067
+1,006,795
| +175% | +$35.5M |
|
|
3
Enphase Energy
ENPH
$4.62B
| $32.5M | 9.11% |
+154,452
| New | +$33.5M |
|
|
ZT
4
DELISTED
Zimmer Energy Transition Acquisition Corp. Class A Common Stock
ZT
| $20.3M | 5.68% |
2,000,001
| – | – |
|
|
PPL
5
PPL Corp
PPL
$26.9B
| $18.6M | 5.21% |
668,775
+152,933
| +30% | +$4.33M |
|
|
EVA
6
DELISTED
Enviva Inc.
EVA
| $18.6M | 5.21% |
643,477
-54,062
| -8% | -$2.21M |
|
|
7
CMS Energy
CMS
$23B
| $16.3M | 4.57% |
265,753
-196,261
| -42% | -$12.1M |
|
|
8
Axalta
AXTA
$7.45B
| $13.6M | 3.81% |
448,479
+288,365
| +180% | +$8.29M |
|
|
9
Dow Inc
DOW
$22B
| $10.2M | 2.86% |
+185,737
| New | +$10.5M |
|
|
10
Ecolab
ECL
$79.8B
| $8.61M | 2.42% |
+52,029
| New | +$8.11M |
|
11
PG&E
PCG
$39B
| $7.62M | 2.14% |
+471,012
| New | +$7.44M |
|
12
Kimberly-Clark
KMB
$37.6B
| $7.4M | 2.07% |
+55,107
| New | +$7.16M |
|
13
NextDecade
NEXT
$1.68B
| $7.29M | 2.05% |
1,467,665
+1,285,847
| +707% | +$7.47M |
|
14
TIM SA
TIMB
$9.1B
| $6.99M | 1.96% |
565,355
+165,399
| +41% | +$1.91M |
|
15
American Tower
AMT
$83.5B
| $6.37M | 1.79% |
+31,161
| New | +$6.54M |
|
|
16
Eversource Energy
ES
$28.1B
| $6.22M | 1.75% |
79,530
-404,638
| -84% | -$32M |
|
17
SolarEdge
SEDG
$2.37B
| $5.68M | 1.59% |
18,698
-463
| -2% | -$141K |
|
|
LTHM
18
DELISTED
Livent Corporation
LTHM
| $5.64M | 1.58% |
259,684
-186,633
| -42% | -$4.31M |
|
19
Valvoline
VVV
$5.06B
| $5.26M | 1.47% |
+150,488
| New | +$5.23M |
|
20
DuPont de Nemours
DD
$18.6B
| $5.22M | 1.46% |
57,890
-36,206
| -38% | -$3.3M |
|
|
WAVC
21
DELISTED
Waverley Capital Acquisition Corp. 1
WAVC
| $5.1M | 1.43% |
500,000
| – | – |
|
22
Ecovyst
ECVT
$1.32B
| $5.1M | 1.43% |
461,251
+368,718
| +398% | +$3.81M |
|
23
Hexcel
HXL
$7.97B
| $4.13M | 1.16% |
+60,542
| New | +$4.11M |
|
24
Atmos Energy
ATO
$29.7B
| $4.02M | 1.13% |
+35,792
| New | +$4.07M |
|
25
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
| $3.78M | 1.06% |
+50,000
| New | +$3.75M |
|
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Covalis Capital's Q1 2023 Portfolio in Review
As of Q1 2023, Covalis Capital held 64 positions worth $357M, down 16% from $423M the previous quarter. Its ten largest holdings account for 72% of the portfolio.
Covalis Capital withdrew a net $46.2M in Q1 2023, closing 30 positions and reducing 8 holdings. Its most notable exit was Entergy, an estimated $20.3M position sold in full.
By sector, the portfolio is most concentrated in Industrials at 26% of assets, up from 24% a quarter earlier, followed by Materials and Utilities.
Against the trend, Covalis Capital opened a new position in Enphase Energy worth $32.5M.
- Covalis Capital's largest Q1 2023 buy was Enphase Energy: 154,452 shares worth $32.5M.
- Covalis Capital added most to New Fortress Energy in Q1 2023, an estimated $35.5M increase.
- Covalis Capital's biggest Q1 2023 reduction was Eversource Energy, cutting an estimated $32M.
- Covalis Capital fully exited Entergy in Q1 2023, selling an estimated $20.3M.
- Covalis Capital's ten largest holdings make up 72% of its $357M portfolio in Q1 2023.
- Covalis Capital opened 14 new positions and closed 30 in Q1 2023.
- Covalis Capital's portfolio value fell 16% quarter-over-quarter to $357M.
Based on Covalis Capital's 13F filing for Q1 2023, filed 15 May 2023.