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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
-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
JNJ icon
151
Johnson & Johnson
JNJ
$621B
– –
-1,406
Closed -$229K
JPM icon
152
JPMorgan Chase
JPM
$955B
– –
-15,074
Closed -$177K
KTB icon
153
Kontoor Brands
KTB
$4.62B
– –
-86,496
Closed -$1.83M
LCII icon
154
LCI Industries
LCII
$2.61B
– –
-11,330
Closed -$1.21M
LMT icon
155
Lockheed Martin
LMT
$133B
– –
-3,554
Closed -$599K
LQD icon
156
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$33B
– –
-2,343
Closed -$300K
MBB icon
157
iShares MBS ETF
MBB
$39.1B
– –
-8,549
Closed -$538K
MDLZ icon
158
Mondelez International
MDLZ
$79.9B
– –
-22,011
Closed -$1.29M
MET icon
159
MetLife
MET
$61.9B
– –
-12,039
Closed -$1.25M
MMM icon
160
3M
MMM
$93.9B
– –
-68,345
Closed -$1.44M
MU icon
161
Micron Technology
MU
$1.01T
– –
-23,346
Closed -$978K
MUB icon
162
iShares National Muni Bond ETF
MUB
$45.4B
– –
-7,852
Closed -$873K
NGL icon
163
NGL Energy Partners
NGL
$2.12B
– –
-98,918
Closed -$1.87M
NKE icon
164
Nike
NKE
$63B
– –
-2,236
Closed -$194K
OMC icon
165
Omnicom Group
OMC
$22.4B
– –
-55,511
Closed -$3.08M
PAYX icon
166
Paychex
PAYX
$42.1B
– –
-30,397
Closed -$1.34M
PEP icon
167
PepsiCo
PEP
$189B
– –
-8,403
Closed -$680K
IFLN
168
Invesco Bloomberg Enhanced Fallen Angels ETF
IFLN
$306M
– –
-13,630
Closed -$263K
PNC icon
169
PNC Financial Services
PNC
$102B
– –
-13,664
Closed -$1.33M
SBUX icon
170
Starbucks
SBUX
$121B
– –
-44,608
Closed -$3.12M
SCHA icon
171
Schwab U.S Small- Cap ETF
SCHA
$23B
– –
-10,864
Closed -$205K
SCZ icon
172
iShares MSCI EAFE Small-Cap ETF
SCZ
$13.6B
– –
-7,327
Closed -$634K
SLV icon
173
iShares Silver Trust
SLV
$29.9B
– –
-8,770
Closed -$204K
SO icon
174
Southern Company
SO
$107B
– –
-170,214
Closed -$5.76M
SPTI icon
175
State Street SPDR Portfolio Intermediate Term Treasury ETF
SPTI
$10.6B
– –
-6,660
Closed -$206K
4 5 6
7
8

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GIA
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DC
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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.