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CMO

Covenant Multifamily Offices Portfolio holdings

AUM $557M
1-Year Est. Return 25.75%
This Fund
S&P 500
This Quarter Est. Return
-20.23%
1 Year Est. Return
+25.75%
3 Year Est. Return
+38.34%
5 Year Est. Return
+79.2%
10 Year Est. Return
–
AUM
$397M
AUM Growth
-$188M
Cap. Flow
-$106M
Cap. Flow %
-26.76%
Top 10 Hldgs %
74.01%
Holding
200
New
12
Increased
38
Reduced
61
Closed
87

Top Buys

Rank Stock Value
1
IGV icon
iShares Expanded Tech-Software Sector ETF
IGV
+$30.6M
2
VIG icon
Vanguard Dividend Appreciation ETF
VIG
+$25.5M
3
OEF icon
iShares S&P 100 ETF
OEF
+$18.9M
4
CSCO icon
Cisco
CSCO
+$2.58M
5
HPQ icon
HP
HPQ
+$2.11M

Top Sells

Rank Stock Value
1
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$25M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$10.1M
3
SCHP icon
Schwab US TIPS ETF
SCHP
+$8.17M
4
IEFA icon
iShares Core MSCI EAFE ETF
IEFA
+$7.31M
5
EW icon
Edwards Lifesciences
EW
+$7.12M

Sector Composition

Rank Sector Weight
1 Communication Services 18.35%
2 Technology 4.11%
3 Healthcare 3.07%
4 Financials 2.19%
5 Consumer Discretionary 2.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COLD icon
126
Americold
COLD
$4.26B
– –
-34,642
Closed -$1.42M
COP icon
127
ConocoPhillips
COP
$141B
– –
-1,608
Closed -$62K
COR icon
128
Cencora
COR
$62.2B
– –
-23,869
Closed -$1.92M
CTVA icon
129
Corteva
CTVA
$51.2B
– –
-9,254
Closed -$149K
CVS icon
130
CVS Health
CVS
$124B
– –
-22,484
Closed -$1.67M
DBEF icon
131
Xtrackers MSCI EAFE Hedged Equity ETF
DBEF
$9.34B
– –
-22,279
Closed -$753K
DD icon
132
DuPont de Nemours
DD
$19.5B
– –
-1,809
Closed -$127K
DIS icon
133
Walt Disney
DIS
$181B
– –
-730
Closed -$106K
DVA icon
134
DaVita
DVA
$11.5B
– –
-363,795
Closed -$2.68M
DVY icon
135
iShares Select Dividend ETF
DVY
$23.5B
– –
-141
Closed -$15K
EFA icon
136
iShares MSCI EAFE ETF
EFA
$79.4B
– –
-3,059
Closed -$574K
EMB icon
137
iShares JPMorgan USD Emerging Markets Bond ETF
EMB
$14.7B
– –
-2,841
Closed -$194K
ET icon
138
Energy Transfer Partners
ET
$71B
– –
-8,289
Closed -$106K
FDX icon
139
FedEx
FDX
$74.7B
– –
-132,367
Closed -$2.28M
GLW icon
140
Corning
GLW
$136B
– –
-9,185
Closed -$267K
GOVT icon
141
iShares US Treasury Bond ETF
GOVT
$43.5B
– –
-37,538
Closed -$1.24M
HES
142
DELISTED
Hess
HES
– –
-2,247
Closed -$44K
ICF icon
143
iShares Select U.S. REIT ETF
ICF
$2.09B
– –
-4,608
Closed -$270K
IGIB icon
144
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$18.6B
– –
-15,147
Closed -$886K
IJR icon
145
iShares Core S&P Small-Cap ETF
IJR
$112B
– –
-30,959
Closed -$2.68M
IJS icon
146
iShares S&P Small-Cap 600 Value ETF
IJS
$8.29B
– –
-5,910
Closed -$358K
IJT icon
147
iShares S&P Small-Cap 600 Growth ETF
IJT
$8.4B
– –
-4,212
Closed -$357K
ILTB icon
148
iShares Core 10+ Year USD Bond ETF
ILTB
$594M
– –
-2,712
Closed -$271K
IP icon
149
International Paper
IP
$21.7B
– –
-16,021
Closed -$699K
IYR icon
150
iShares US Real Estate ETF
IYR
$4.63B
– –
-1,692
Closed -$221K
4 5
6
7 8

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Covenant Multifamily Offices's Q1 2020 Portfolio in Review

As of Q1 2020, Covenant Multifamily Offices held 200 positions worth $397M, down 32% from $586M the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Covenant Multifamily Offices withdrew a net $106M in Q1 2020, closing 87 positions and reducing 61 holdings. Its most notable exit was Southern Company, an estimated $5.76M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 18% of assets, up from 18% a quarter earlier, followed by Technology and Healthcare.

Against the trend, Covenant Multifamily Offices opened a new position in iShares Expanded Tech-Software Sector ETF worth $27.2M.

  • Covenant Multifamily Offices's largest Q1 2020 buy was iShares Expanded Tech-Software Sector ETF: 647,625 shares worth $27.2M.
  • Covenant Multifamily Offices added most to Vanguard Dividend Appreciation ETF in Q1 2020, an estimated $25.5M increase.
  • Covenant Multifamily Offices's biggest Q1 2020 reduction was Vanguard FTSE Developed Markets ETF, cutting an estimated $25M.
  • Covenant Multifamily Offices fully exited Southern Company in Q1 2020, selling an estimated $5.76M.
  • Covenant Multifamily Offices's ten largest holdings make up 74% of its $397M portfolio in Q1 2020.
  • Covenant Multifamily Offices opened 12 new positions and closed 87 in Q1 2020.
  • Covenant Multifamily Offices's portfolio value fell 32% quarter-over-quarter to $397M.

Based on Covenant Multifamily Offices's 13F filing for Q1 2020, filed 5 May 2020.