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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
+0.08%
1 Year Est. Return
+27.84%
3 Year Est. Return
+31.31%
5 Year Est. Return
+22.79%
10 Year Est. Return
–
AUM
$736M
AUM Growth
-$74.8M
Cap. Flow
-$81.4M
Cap. Flow %
-11.06%
Top 10 Hldgs %
53.5%
Holding
91
New
39
Increased
13
Reduced
9
Closed
30

Top Buys

Rank Stock Value
1
NGG icon
National Grid
NGG
+$97.9M
2
DVN icon
Devon Energy
DVN
+$55.1M
3
PNW icon
Pinnacle West Capital
PNW
+$41.7M
4
NRG icon
NRG Energy
NRG
+$33.2M
5
EVRG icon
Evergy
EVRG
+$24.4M

Top Sells

Rank Stock Value
1
NEE icon
NextEra Energy
NEE
+$121M
2
OKE icon
Oneok
OKE
+$68.4M
3
PCG icon
PG&E
PCG
+$55.4M
4
CVE icon
Cenovus Energy
CVE
+$51.6M
5
NI icon
NiSource
NI
+$40.3M

Sector Composition

Rank Sector Weight
1 Utilities 54.22%
2 Consumer Discretionary 16.6%
3 Energy 14.48%
4 Industrials 8.12%
5 Materials 2.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NGG icon
1
National Grid
NGG
$80.4B
$86.9M 11.82%
+1,623,972
New +$97.9M
PCG icon
2
PG&E
PCG
$38.3B
$61.6M 8.38%
3,529,368
-3,148,326
-47% -$55.4M
DVN icon
3
Devon Energy
DVN
$52.1B
$52.5M 7.14%
+1,107,519
New +$55.1M
PNW icon
4
Pinnacle West Capital
PNW
$12.2B
$42.2M 5.74%
+552,588
New +$41.7M
FLNC icon
5
Fluence Energy
FLNC
$1.85B
$34.2M 4.65%
1,972,140
+760,625
+63% +$14.6M
NRG icon
6
NRG Energy
NRG
$28.3B
$33.3M 4.53%
+428,188
New +$33.2M
EVRG icon
7
Evergy
EVRG
$19.1B
$24.3M 3.3%
+458,197
New +$24.4M
F icon
8
Ford
F
$58.5B
$20.5M 2.79%
+1,638,506
New +$20.3M
EIX icon
9
Edison International
EIX
$28.2B
$20.1M 2.74%
+280,480
New +$20.3M
BWA icon
10
BorgWarner
BWA
$13.1B
$17.8M 2.42%
+553,176
New +$19.2M
GPI icon
11
Group 1 Automotive
GPI
$3.41B
$17.6M 2.39%
59,058
+8,649
+17% +$2.56M
NI icon
12
NiSource
NI
$21.3B
$16.6M 2.25%
575,534
-1,429,386
-71% -$40.3M
VST icon
13
Vistra
VST
$50B
$16.4M 2.23%
+190,740
New +$16M
PHIN icon
14
Phinia Inc
PHIN
$2.72B
$16.4M 2.22%
415,597
+65,430
+19% +$2.69M
SU icon
15
Suncor Energy
SU
$79.4B
$15.7M 2.14%
+412,247
New +$15.9M
SO icon
16
Southern Company
SO
$109B
$14.9M 2.03%
+192,044
New +$14.6M
GEV icon
17
GE Vernova
GEV
$264B
$14.1M 1.92%
+82,337
New +$13M
NEE icon
18
NextEra Energy
NEE
$181B
$14M 1.9%
197,510
-1,711,274
-90% -$121M
RBA icon
19
RB Global
RBA
$20.4B
$13.7M 1.86%
179,295
+51,861
+41% +$3.89M
OI icon
20
O-I Glass
OI
$1.1B
$13.7M 1.86%
1,228,397
+894,377
+268% +$12.1M
APTV icon
21
Aptiv
APTV
$12B
$13.6M 1.85%
+193,003
New +$14.8M
PPL
22
PPL Corp
PPL
$26.5B
$12.9M 1.76%
468,284
-528,854
-53% -$14.8M
LBTYA icon
23
Liberty Global Class A
LBTYA
$3.62B
$12.2M 1.66%
698,678
-541,488
-44% -$9.16M
LNT icon
24
Alliant Energy
LNT
$18.3B
$10.3M 1.39%
+201,533
New +$10.1M
ABG icon
25
Asbury Automotive
ABG
$4.31B
$9.95M 1.35%
43,658
-18,139
-29% -$4.12M
1
2 3 4

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Covalis Capital's Q2 2024 Portfolio in Review

As of Q2 2024, Covalis Capital held 91 positions worth $736M, down 9.2% from $810M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Covalis Capital withdrew a net $81.4M in Q2 2024, closing 30 positions and reducing 9 holdings. Its most notable exit was Oneok, an estimated $68.4M position sold in full.

By sector, the portfolio is most concentrated in Utilities at 54% of assets, up from 49% a quarter earlier, followed by Consumer Discretionary and Energy.

Against the trend, Covalis Capital opened a new position in National Grid worth $86.9M.

  • Covalis Capital's largest Q2 2024 buy was National Grid: 1,623,972 shares worth $86.9M.
  • Covalis Capital added most to Fluence Energy in Q2 2024, an estimated $14.6M increase.
  • Covalis Capital's biggest Q2 2024 reduction was NextEra Energy, cutting an estimated $121M.
  • Covalis Capital fully exited Oneok in Q2 2024, selling an estimated $68.4M.
  • Covalis Capital's ten largest holdings make up 54% of its $736M portfolio in Q2 2024.
  • Covalis Capital opened 39 new positions and closed 30 in Q2 2024.
  • Covalis Capital's portfolio value fell 9.2% quarter-over-quarter to $736M.

Based on Covalis Capital's 13F filing for Q2 2024, filed 13 Aug 2024.