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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
+2.44%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$615M
AUM Growth
+$49.8M
Cap. Flow
+$28.3M
Cap. Flow %
4.59%
Top 10 Hldgs %
51.48%
Holding
81
New
30
Increased
12
Reduced
13
Closed
25

Top Buys

Rank Stock Value
1
SHEL icon
Shell
SHEL
+$87.9M
2
FLNC icon
Fluence Energy
FLNC
+$23.8M
3
BB icon
BlackBerry
BB
+$21.9M
4
SHLS icon
Shoals Technologies Group
SHLS
+$14.8M
5
OXY icon
Occidental Petroleum
OXY
+$13M

Top Sells

Rank Stock Value
1
LICY
Li-Cycle Holdings Corp.
LICY
+$39.3M
2
PPL
PPL Corp
PPL
+$35.6M
3
SQM icon
Sociedad Química y Minera de Chile
SQM
+$30.6M
4
NRG icon
NRG Energy
NRG
+$19.5M
5
ES icon
Eversource Energy
ES
+$18.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 22.23%
2 Energy 20.89%
3 Utilities 19.11%
4 Technology 18.9%
5 Materials 9.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SHEL icon
1
Shell
SHEL
$244B
$88.1M 14.32%
+1,339,313
New +$87.9M
FSLR icon
2
First Solar
FSLR
$21.4B
$65.3M 10.61%
379,052
-28,960
-7% -$4.43M
FLNC icon
3
Fluence Energy
FLNC
$1.58B
$27M 4.39%
+1,131,522
New +$23.8M
BB icon
4
BlackBerry
BB
$4.58B
$26.2M 4.25%
7,391,699
+5,844,335
+378% +$21.9M
PCG icon
5
PG&E
PCG
$39B
$25.5M 4.15%
1,416,559
-400,475
-22% -$6.76M
SHLS icon
6
Shoals Technologies Group
SHLS
$1.33B
$22.1M 3.59%
1,419,917
+977,160
+221% +$14.8M
ALV icon
7
Autoliv
ALV
$9.14B
$17M 2.76%
154,139
+28,281
+22% +$2.82M
PHIN icon
8
Phinia Inc
PHIN
$3.04B
$15.3M 2.48%
503,750
-98,425
-16% -$2.64M
PPL
9
PPL Corp
PPL
$26.9B
$15.2M 2.46%
559,369
-1,403,030
-71% -$35.6M
ATS icon
10
ATS Corp
ATS
$2.57B
$15.2M 2.46%
349,968
+153,828
+78% +$5.97M
GPI icon
11
Group 1 Automotive
GPI
$4.26B
$14.4M 2.34%
47,157
-13,616
-22% -$3.71M
SEE
12
DELISTED
Sealed Air
SEE
$14.2M 2.31%
+389,833
New +$12.8M
NEE icon
13
NextEra Energy
NEE
$184B
$13.8M 2.24%
+227,211
New +$12.9M
MP icon
14
MP Materials
MP
$6.78B
$13.5M 2.19%
+679,257
New +$11.6M
OXY icon
15
Occidental Petroleum
OXY
$55.7B
$12.7M 2.07%
+213,521
New +$13M
ALB icon
16
Albemarle
ALB
$13.4B
$12.2M 1.98%
+84,367
New +$11.6M
GT icon
17
Goodyear
GT
$2.09B
$12.1M 1.96%
841,672
+118,975
+16% +$1.58M
LCID icon
18
Lucid Motors
LCID
$3.11B
$11.5M 1.87%
+273,005
New +$12.3M
CVE icon
19
Cenovus Energy
CVE
$54.2B
$11.5M 1.87%
+690,018
New +$12.6M
XIFR
20
XPLR Infrastructure LP
XIFR
$1.04B
$11.1M 1.8%
+363,771
New +$9.27M
AXTA icon
21
Axalta
AXTA
$7.45B
$10.9M 1.77%
320,705
+135,300
+73% +$4.05M
TXNM
22
TXNM Energy Inc
TXNM
$6.39B
$10.4M 1.7%
+250,911
New +$10.7M
ABG icon
23
Asbury Automotive
ABG
$4.62B
$9.99M 1.62%
+44,423
New +$9.39M
GM icon
24
General Motors
GM
$80.9B
$9.17M 1.49%
+255,179
New +$7.89M
PCAR icon
25
PACCAR
PCAR
$70.5B
$9.03M 1.47%
92,451
-35,309
-28% -$3.17M
1
2 3 4

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Covalis Capital's Q4 2023 Portfolio in Review

As of Q4 2023, Covalis Capital held 81 positions worth $615M, up 8.8% from $565M the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Covalis Capital deployed $28.3M of net new capital in Q4 2023, opening 30 new positions and adding to 12 existing holdings. Its largest new stake was Shell: 1,339,313 shares worth $88.1M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 17% a quarter earlier, followed by Energy and Utilities.

On the sell side, the largest reduction was PPL Corp, an estimated $35.6M trimmed.

  • Covalis Capital's largest Q4 2023 buy was Shell: 1,339,313 shares worth $88.1M.
  • Covalis Capital added most to BlackBerry in Q4 2023, an estimated $21.9M increase.
  • Covalis Capital's biggest Q4 2023 reduction was PPL Corp, cutting an estimated $35.6M.
  • Covalis Capital fully exited Li-Cycle Holdings Corp. in Q4 2023, selling an estimated $39.3M.
  • Covalis Capital's ten largest holdings make up 51% of its $615M portfolio in Q4 2023.
  • Covalis Capital opened 30 new positions and closed 25 in Q4 2023.
  • Covalis Capital's portfolio value rose 8.8% quarter-over-quarter to $615M.

Based on Covalis Capital's 13F filing for Q4 2023, filed 14 Feb 2024.