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Covenant Multifamily Offices Portfolio holdings

AUM $557M
1-Year Est. Return 25.75%
This Fund
S&P 500
This Quarter Est. Return
+3.7%
1 Year Est. Return
+25.75%
3 Year Est. Return
+38.34%
5 Year Est. Return
+79.2%
10 Year Est. Return
–
AUM
$456M
AUM Growth
+$147M
Cap. Flow
+$133M
Cap. Flow %
29.25%
Top 10 Hldgs %
68.3%
Holding
290
New
67
Increased
56
Reduced
11
Closed
148

Top Buys

Rank Stock Value
1
T icon
AT&T
T
+$77.1M
2
VIG icon
Vanguard Dividend Appreciation ETF
VIG
+$5.99M
3
FNDB icon
Schwab Fundamental US Broad Market Index ETF
FNDB
+$4.73M
4
SCHF icon
Schwab International Equity ETF
SCHF
+$4.68M
5
DJP icon
iPath Bloomberg Commodity Index Total Return ETN due 12 June 2036
DJP
+$3.89M

Top Sells

Rank Stock Value
1
VHT icon
Vanguard Health Care ETF
VHT
+$12.4M
2
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$10M
3
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$7.32M
4
IWP icon
iShares Russell Mid-Cap Growth ETF
IWP
+$3.67M
5
QCOM icon
Qualcomm
QCOM
+$1.21M

Sector Composition

Rank Sector Weight
1 Communication Services 19.63%
2 Energy 3.83%
3 Consumer Discretionary 3.15%
4 Technology 3.08%
5 Healthcare 3.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TROW icon
251
T. Rowe Price
TROW
$23.9B
– –
-213
Closed -$21K
TSLA icon
252
Tesla
TSLA
$1.23T
– –
-3,000
Closed -$56K
TTEK icon
253
Tetra Tech
TTEK
$8.49B
– –
-1,200
Closed -$14K
TWLO icon
254
Twilio
TWLO
$30B
– –
-300
Closed -$39K
TWO
255
Two Harbors Investment
TWO
$1.27B
– –
-13,934
Closed -$754K
UBS icon
256
UBS Group
UBS
$173B
– –
-3,127
Closed -$38K
USMV icon
257
iShares MSCI USA Min Vol Factor ETF
USMV
$23.5B
– –
-2,644
Closed -$155K
V icon
258
Visa
V
$684B
– –
-755
Closed -$118K
VBK icon
259
Vanguard Morningstar Small-Cap Growth ETF
VBK
$23.1B
– –
-150
Closed -$27K
VBR icon
260
Vanguard Morningstar Small-Cap Value ETF
VBR
$37.1B
– –
-183
Closed -$24K
VGK icon
261
Vanguard FTSE Europe ETF
VGK
$30.7B
– –
-3,607
Closed -$193K
VHT icon
262
Vanguard Health Care ETF
VHT
$18.1B
– –
-72,164
Closed -$12.4M
VIV icon
263
Telefônica Brasil
VIV
$20.6B
– –
-2,542
Closed -$31K
VLO icon
264
Valero Energy
VLO
$90.1B
– –
-422
Closed -$36K
VMBS icon
265
Vanguard Mortgage-Backed Securities ETF
VMBS
$15.4B
– –
-7,988
Closed -$418K
VNQ icon
266
Vanguard Real Estate ETF
VNQ
$39.2B
– –
-849
Closed -$74K
VNQI icon
267
Vanguard Global ex-US Real Estate ETF
VNQI
$3.52B
– –
-1,306
Closed -$78K
VOE icon
268
Vanguard Morningstar Mid-Cap Value ETF
VOE
$23.7B
– –
-1,744
Closed -$188K
VOT icon
269
Vanguard Morningstar Mid-Cap Growth ETF
VOT
$19.2B
– –
-330
Closed -$47K
VPL icon
270
Vanguard FTSE Pacific ETF
VPL
$8.08B
– –
-2,086
Closed -$137K
VV icon
271
Vanguard Morningstar Large-Cap ETF
VV
$52.4B
– –
-1,117
Closed -$145K
WPP icon
272
WPP
WPP
$4.36B
– –
-906
Closed -$48K
XLB icon
273
State Street Materials Select Sector SPDR ETF
XLB
$8.5B
– –
-202
Closed -$6K
XLI icon
274
State Street Industrial Select Sector SPDR ETF
XLI
$32.8B
– –
-184
Closed -$14K
XLK icon
275
State Street Technology Select Sector SPDR ETF
XLK
$115B
– –
-1,528
Closed -$57K
8 9 10
11
12

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Covenant Multifamily Offices's Q2 2019 Portfolio in Review

As of Q2 2019, Covenant Multifamily Offices held 290 positions worth $456M, up 48% from $309M the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Covenant Multifamily Offices deployed $133M of net new capital in Q2 2019, opening 67 new positions and adding to 56 existing holdings. Its largest new stake was AT&T: 3,214,734 shares worth $81.4M.

By sector, the portfolio is most concentrated in Communication Services at 20% of assets, up from 1.4% a quarter earlier, followed by Energy and Consumer Discretionary.

On the sell side, the largest reduction was Vanguard FTSE Developed Markets ETF, an estimated $10M trimmed.

  • Covenant Multifamily Offices's largest Q2 2019 buy was AT&T: 3,214,734 shares worth $81.4M.
  • Covenant Multifamily Offices added most to Vanguard Dividend Appreciation ETF in Q2 2019, an estimated $5.99M increase.
  • Covenant Multifamily Offices's biggest Q2 2019 reduction was Vanguard FTSE Developed Markets ETF, cutting an estimated $10M.
  • Covenant Multifamily Offices fully exited Vanguard Health Care ETF in Q2 2019, selling an estimated $12.4M.
  • Covenant Multifamily Offices's ten largest holdings make up 68% of its $456M portfolio in Q2 2019.
  • Covenant Multifamily Offices opened 67 new positions and closed 148 in Q2 2019.
  • Covenant Multifamily Offices's portfolio value rose 48% quarter-over-quarter to $456M.

Based on Covenant Multifamily Offices's 13F filing for Q2 2019, filed 31 Jul 2019.