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Covenant Asset Management Portfolio holdings

AUM $595M
1-Year Est. Return 38.14%
This Fund
S&P 500
This Quarter Est. Return
+9.07%
1 Year Est. Return
+38.14%
3 Year Est. Return
+158.45%
5 Year Est. Return
+212.83%
10 Year Est. Return
–
AUM
$629M
AUM Growth
+$19M
Cap. Flow
-$22.7M
Cap. Flow %
-3.61%
Top 10 Hldgs %
43.62%
Holding
174
New
16
Increased
37
Reduced
65
Closed
8

Top Buys

Rank Stock Value
1
ELF icon
e.l.f. Beauty
ELF
+$3.99M
2
ARM icon
Arm
ARM
+$3.98M
3
MEDP icon
Medpace
MEDP
+$3.55M
4
SEDG icon
SolarEdge
SEDG
+$2.42M
5
NFLX icon
Netflix
NFLX
+$1.89M

Top Sells

Rank Stock Value
1
IDXX icon
Idexx Laboratories
IDXX
+$3.5M
2
DECK icon
Deckers Outdoor
DECK
+$2.87M
3
ADBE icon
Adobe
ADBE
+$2.8M
4
ULTA icon
Ulta Beauty
ULTA
+$2.78M
5
ODFL icon
Old Dominion Freight Line
ODFL
+$1.27M

Sector Composition

Rank Sector Weight
1 Technology 31.53%
2 Healthcare 9.42%
3 Communication Services 6.91%
4 Industrials 5.38%
5 Consumer Discretionary 4.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CMG icon
1
PUT
Chipotle Mexican Grill
CMG
$42.5B
– –
0
– –
AVGO icon
2
PUT
Broadcom
AVGO
$1.8T
– –
0
– –
NVDA icon
3
NVIDIA
NVDA
$4.92T
$38.9M 6.19%
315,222
-8,948
-3% -$905K
MSFT icon
4
Microsoft
MSFT
$2.99T
$32.6M 5.18%
72,854
-280
-0.4% -$118K
SPY icon
5
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$781B
– –
0
– –
AAPL icon
6
Apple
AAPL
$4.8T
$21.7M 3.44%
102,797
+4,387
+4% +$818K
AMZN icon
7
Amazon
AMZN
$2.69T
$16.2M 2.57%
83,737
-6,375
-7% -$1.17M
NOW icon
8
PUT
ServiceNow
NOW
$108B
– –
0
– –
TTD icon
9
Trade Desk
TTD
$8.76B
$13.3M 2.12%
136,563
-1,950
-1% -$176K
AVGO icon
10
Broadcom
AVGO
$1.8T
$12.1M 1.92%
75,250
+1,060
+1% +$149K
LLY icon
11
Eli Lilly
LLY
$1.02T
$10.8M 1.71%
11,906
-84
-0.7% -$67.2K
ASML icon
12
PUT
ASML
ASML
$668B
– –
0
– –
GOOGL icon
13
Alphabet (Google) Class A
GOOGL
$4.3T
$10.7M 1.7%
58,584
-1,043
-2% -$176K
REGN icon
14
PUT
Regeneron Pharmaceuticals
REGN
$70.5B
– –
0
– –
META icon
15
Meta Platforms (Facebook)
META
$1.64T
$10.3M 1.63%
20,331
+736
+4% +$358K
PANW icon
16
Palo Alto Networks
PANW
$284B
$8.72M 1.39%
51,454
-428
-0.8% -$64K
ASML icon
17
ASML
ASML
$668B
$8.21M 1.31%
8,023
-149
-2% -$143K
QCOM icon
18
Qualcomm
QCOM
$180B
$8.2M 1.3%
41,166
-3,698
-8% -$699K
SNPS icon
19
Synopsys
SNPS
$72.5B
$7.61M 1.21%
12,786
+91
+0.7% +$51.5K
ANET icon
20
Arista Networks
ANET
$213B
$7.53M 1.2%
85,964
+324
+0.4% +$24.1K
AMD icon
21
Advanced Micro Devices
AMD
$821B
$7.49M 1.19%
46,164
+592
+1% +$95.2K
MRK icon
22
Merck
MRK
$307B
$7.4M 1.18%
59,779
-155
-0.3% -$20K
SHOP icon
23
Shopify
SHOP
$162B
$6.9M 1.1%
104,435
-902
-0.9% -$59.8K
REGN icon
24
Regeneron Pharmaceuticals
REGN
$70.5B
$6.67M 1.06%
6,350
-5
-0.1% -$4.85K
PWR icon
25
Quanta Services
PWR
$94.9B
$6.65M 1.06%
26,174
-112
-0.4% -$29.7K
1
2 3 4 5

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Covenant Asset Management's Q2 2024 Portfolio in Review

As of Q2 2024, Covenant Asset Management held 174 positions worth $629M, up 3.1% from $610M the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Covenant Asset Management withdrew a net $22.7M in Q2 2024, closing 8 positions and reducing 65 holdings. Its most notable exit was Idexx Laboratories, an estimated $3.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 32% of assets, up from 29% a quarter earlier, followed by Healthcare and Communication Services.

Against the trend, Covenant Asset Management opened a new position in e.l.f. Beauty worth $4.73M.

  • Covenant Asset Management's largest Q2 2024 buy was e.l.f. Beauty: 22,454 shares worth $4.73M.
  • Covenant Asset Management added most to SolarEdge in Q2 2024, an estimated $2.42M increase.
  • Covenant Asset Management's biggest Q2 2024 reduction was Deckers Outdoor, cutting an estimated $2.87M.
  • Covenant Asset Management fully exited Idexx Laboratories in Q2 2024, selling an estimated $3.5M.
  • Covenant Asset Management's ten largest holdings make up 44% of its $629M portfolio in Q2 2024.
  • Covenant Asset Management opened 16 new positions and closed 8 in Q2 2024.
  • Covenant Asset Management's portfolio value rose 3.1% quarter-over-quarter to $629M.

Based on Covenant Asset Management's 13F filing for Q2 2024, filed 2 Aug 2024.