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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
-11.25%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$565M
AUM Growth
+$99.1M
Cap. Flow
+$178M
Cap. Flow %
31.47%
Top 10 Hldgs %
52.75%
Holding
67
New
27
Increased
14
Reduced
8
Closed
16

Top Buys

Rank Stock Value
1
FSLR icon
First Solar
FSLR
+$65.5M
2
PPL
PPL Corp
PPL
+$28.9M
3
SQM icon
Sociedad Química y Minera de Chile
SQM
+$22.6M
4
ES icon
Eversource Energy
ES
+$21.4M
5
UGI icon
UGI
UGI
+$17.6M

Top Sells

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$60.5M
2
NFE icon
New Fortress Energy
NFE
+$25M
3
CMS icon
CMS Energy
CMS
+$12.8M
4
DD icon
DuPont de Nemours
DD
+$10.9M
5
TALO icon
Talos Energy
TALO
+$9.88M

Sector Composition

Rank Sector Weight
1 Utilities 28.75%
2 Consumer Discretionary 17.36%
3 Industrials 17.08%
4 Technology 16.37%
5 Materials 13.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FSLR icon
1
First Solar
FSLR
$21.4B
$65.9M 11.66%
408,012
+350,996
+616% +$65.5M
PPL
2
PPL Corp
PPL
$26.9B
$46.2M 8.18%
1,962,399
+1,118,978
+133% +$28.9M
LICY
3
DELISTED
Li-Cycle Holdings Corp.
LICY
$39.3M 6.94%
1,382,158
-120,583
-8% -$4.82M
SQM icon
4
Sociedad Química y Minera de Chile
SQM
$19.3B
$30.6M 5.42%
513,642
+334,560
+187% +$22.6M
PCG icon
5
PG&E
PCG
$39B
$29.3M 5.18%
1,817,034
+182,754
+11% +$3.14M
NRG icon
6
NRG Energy
NRG
$26.2B
$19.5M 3.45%
506,554
+96,386
+23% +$3.65M
ES icon
7
Eversource Energy
ES
$28.1B
$18.6M 3.3%
+320,681
New +$21.4M
GPI icon
8
Group 1 Automotive
GPI
$4.26B
$16.3M 2.89%
+60,773
New +$15.9M
UGI icon
9
UGI
UGI
$7.87B
$16.3M 2.88%
+707,774
New +$17.6M
PHIN icon
10
Phinia Inc
PHIN
$3.04B
$16.1M 2.85%
+602,175
New +$16.7M
EVA
11
DELISTED
Enviva Inc.
EVA
$14.7M 2.59%
1,962,576
+274,972
+16% +$2.86M
LTHM
12
DELISTED
Livent Corporation
LTHM
$14.1M 2.5%
766,964
+273,148
+55% +$6.25M
STLA icon
13
Stellantis
STLA
$17.4B
$13.9M 2.45%
+725,068
New +$13.6M
SO icon
14
Southern Company
SO
$108B
$12.9M 2.29%
199,961
+43,169
+28% +$3M
ALV icon
15
Autoliv
ALV
$9.14B
$12.1M 2.15%
125,858
+89,753
+249% +$8.6M
MBLY icon
16
Mobileye
MBLY
$2.02B
$11.9M 2.1%
+286,425
New +$11M
PCAR icon
17
PACCAR
PCAR
$70.5B
$10.9M 1.92%
+127,760
New +$10.9M
EVRG icon
18
Evergy
EVRG
$19.4B
$10.1M 1.79%
+199,831
New +$11.3M
VC icon
19
Visteon
VC
$2.85B
$10M 1.77%
72,662
+50,410
+227% +$7.26M
MOS icon
20
The Mosaic Company
MOS
$7.19B
$9.59M 1.7%
269,470
+212,532
+373% +$8.15M
XEL icon
21
Xcel Energy
XEL
$49.2B
$9.54M 1.69%
+166,778
New +$10M
GT icon
22
Goodyear
GT
$2.09B
$8.98M 1.59%
+722,697
New +$9.82M
ATS icon
23
ATS Corp
ATS
$2.57B
$8.4M 1.49%
+196,140
New +$8.66M
SHLS icon
24
Shoals Technologies Group
SHLS
$1.33B
$8.08M 1.43%
+442,757
New +$9.85M
TRGP icon
25
Targa Resources
TRGP
$56.8B
$7.95M 1.41%
+92,690
New +$7.68M
1
2 3

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Covalis Capital's Q3 2023 Portfolio in Review

As of Q3 2023, Covalis Capital held 67 positions worth $565M, up 21% from $466M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Covalis Capital deployed $178M of net new capital in Q3 2023, opening 27 new positions and adding to 14 existing holdings. Its largest new stake was Eversource Energy: 320,681 shares worth $18.6M.

By sector, the portfolio is most concentrated in Utilities at 29% of assets, up from 21% a quarter earlier, followed by Consumer Discretionary and Industrials.

On the sell side, the largest reduction was Cheniere Energy, an estimated $60.5M trimmed.

  • Covalis Capital's largest Q3 2023 buy was Eversource Energy: 320,681 shares worth $18.6M.
  • Covalis Capital added most to First Solar in Q3 2023, an estimated $65.5M increase.
  • Covalis Capital's biggest Q3 2023 reduction was Cheniere Energy, cutting an estimated $60.5M.
  • Covalis Capital fully exited New Fortress Energy in Q3 2023, selling an estimated $25M.
  • Covalis Capital's ten largest holdings make up 53% of its $565M portfolio in Q3 2023.
  • Covalis Capital opened 27 new positions and closed 16 in Q3 2023.
  • Covalis Capital's portfolio value rose 21% quarter-over-quarter to $565M.

Based on Covalis Capital's 13F filing for Q3 2023, filed 14 Nov 2023.