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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
+2.29%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$810M
AUM Growth
+$195M
Cap. Flow
+$182M
Cap. Flow %
22.47%
Top 10 Hldgs %
65.03%
Holding
83
New
27
Increased
16
Reduced
9
Closed
31

Top Buys

Rank Stock Value
1
NEE icon
NextEra Energy
NEE
+$98.5M
2
PCG icon
PG&E
PCG
+$88.2M
3
OKE icon
Oneok
OKE
+$59.1M
4
NI icon
NiSource
NI
+$52.7M
5
CVE icon
Cenovus Energy
CVE
+$32.3M

Top Sells

Rank Stock Value
1
SHEL icon
Shell
SHEL
+$79.5M
2
FSLR icon
First Solar
FSLR
+$45.5M
3
SHLS icon
Shoals Technologies Group
SHLS
+$22.1M
4
SEE
Sealed Air
SEE
+$14.2M
5
MP icon
MP Materials
MP
+$13.5M

Sector Composition

Rank Sector Weight
1 Utilities 49.3%
2 Energy 20.42%
3 Consumer Discretionary 13.97%
4 Industrials 7.05%
5 Technology 4.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NEE icon
1
NextEra Energy
NEE
$182B
$122M 15.05%
1,908,784
+1,681,573
+740% +$98.5M
PCG icon
2
PG&E
PCG
$38.3B
$112M 13.81%
6,677,694
+5,261,135
+371% +$88.2M
OKE icon
3
Oneok
OKE
$57.2B
$68.4M 8.44%
853,589
+809,491
+1,836% +$59.1M
NI icon
4
NiSource
NI
$21.3B
$55.5M 6.84%
+2,004,920
New +$52.7M
CVE icon
5
Cenovus Energy
CVE
$55.6B
$51.6M 6.37%
2,583,398
+1,893,380
+274% +$32.3M
XIFR
6
XPLR Infrastructure LP
XIFR
$1.12B
$28M 3.45%
930,825
+567,054
+156% +$16.1M
PPL
7
PPL Corp
PPL
$26.5B
$27.5M 3.39%
997,138
+437,769
+78% +$11.7M
FLNC icon
8
Fluence Energy
FLNC
$1.85B
$21M 2.59%
1,211,515
+79,993
+7% +$1.46M
LBTYA icon
9
Liberty Global Class A
LBTYA
$3.61B
$21M 2.59%
+1,240,166
New +$22.6M
BE icon
10
Bloom Energy
BE
$60.7B
$20.2M 2.49%
+1,793,357
New +$19.7M
XEL icon
11
Xcel Energy
XEL
$48.9B
$16.3M 2.01%
+302,418
New +$17.3M
GM icon
12
General Motors
GM
$80.3B
$16.2M 2%
356,829
+101,650
+40% +$3.94M
BP icon
13
BP
BP
$116B
$15.5M 1.91%
+411,331
New +$14.7M
PCAR icon
14
PACCAR
PCAR
$69.9B
$15.2M 1.88%
122,945
+30,494
+33% +$3.28M
GPI icon
15
Group 1 Automotive
GPI
$3.41B
$14.7M 1.82%
50,409
+3,252
+7% +$888K
ABG icon
16
Asbury Automotive
ABG
$4.32B
$14.6M 1.8%
61,797
+17,374
+39% +$3.69M
FSLR icon
17
First Solar
FSLR
$22.7B
$14M 1.73%
83,177
-295,875
-78% -$45.5M
PHIN icon
18
Phinia Inc
PHIN
$2.72B
$13.5M 1.66%
350,167
-153,583
-30% -$5M
SRE icon
19
Sempra
SRE
$58B
$12.2M 1.51%
+169,919
New +$12.2M
BB icon
20
BlackBerry
BB
$4.99B
$9.9M 1.22%
3,585,184
-3,806,515
-51% -$11.1M
RBA icon
21
RB Global
RBA
$20.5B
$9.71M 1.2%
127,434
+14,936
+13% +$1.04M
ALV icon
22
Autoliv
ALV
$9.03B
$9.58M 1.18%
79,588
-74,551
-48% -$8.34M
OXY icon
23
Occidental Petroleum
OXY
$56.7B
$7.45M 0.92%
114,661
-98,860
-46% -$5.9M
MBLY icon
24
Mobileye
MBLY
$2.01B
$7.42M 0.92%
230,819
+111,014
+93% +$3.15M
STLA icon
25
Stellantis
STLA
$16.7B
$7.4M 0.91%
260,198
+14,680
+6% +$366K
1
2 3 4

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Covalis Capital's Q1 2024 Portfolio in Review

As of Q1 2024, Covalis Capital held 83 positions worth $810M, up 32% from $615M the previous quarter. Its ten largest holdings account for 65% of the portfolio.

Covalis Capital deployed $182M of net new capital in Q1 2024, opening 27 new positions and adding to 16 existing holdings. Its largest new stake was NiSource: 2,004,920 shares worth $55.5M.

By sector, the portfolio is most concentrated in Utilities at 49% of assets, up from 19% a quarter earlier, followed by Energy and Consumer Discretionary.

On the sell side, the largest reduction was Shell, an estimated $79.5M trimmed.

  • Covalis Capital's largest Q1 2024 buy was NiSource: 2,004,920 shares worth $55.5M.
  • Covalis Capital added most to NextEra Energy in Q1 2024, an estimated $98.5M increase.
  • Covalis Capital's biggest Q1 2024 reduction was Shell, cutting an estimated $79.5M.
  • Covalis Capital fully exited Shoals Technologies Group in Q1 2024, selling an estimated $22.1M.
  • Covalis Capital's ten largest holdings make up 65% of its $810M portfolio in Q1 2024.
  • Covalis Capital opened 27 new positions and closed 31 in Q1 2024.
  • Covalis Capital's portfolio value rose 32% quarter-over-quarter to $810M.

Based on Covalis Capital's 13F filing for Q1 2024, filed 15 May 2024.