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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 Miscellaneous 61.31%
2 Communication Services 19.9%
3 Energy 3.83%
4 Consumer Discretionary 3.15%
5 Healthcare 3.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ENIC icon
176
Enel Chile
ENIC
$5.96B
– –
-2,855
Closed -$15K
EMBJ
177
Embraer S.A. ADS
EMBJ
$13.2B
– –
-2,211
Closed -$42K
FCX icon
178
Freeport-McMoran
FCX
$99.4B
– –
-320
Closed -$4K
FDX icon
179
FedEx
FDX
$71.4B
– –
-160
Closed -$29K
FFIV icon
180
F5
FFIV
$24B
– –
-109
Closed -$17K
GIS icon
181
General Mills
GIS
$19.7B
– –
-344
Closed -$18K
GOOG icon
182
Alphabet (Google) Class C
GOOG
$4.15T
– –
-700
Closed -$41K
GOOGL icon
183
Alphabet (Google) Class A
GOOGL
$4.19T
– –
-700
Closed -$41K
GOVI icon
184
Invesco Equal Weight 0-30 Year Treasury ETF
GOVI
$1.2B
– –
-3,217
Closed -$106K
GSG icon
185
iShares S&P GSCI Commodity-Indexed Trust
GSG
$1.06B
– –
-64,628
Closed -$1.03M
HD icon
186
Home Depot
HD
$302B
– –
-315
Closed -$60K
HMC icon
187
Honda
HMC
$41.7B
– –
-1,216
Closed -$33K
HSBC icon
188
HSBC
HSBC
$345B
– –
-350
Closed -$14K
IBB icon
189
iShares Biotechnology ETF
IBB
$10.3B
– –
-460
Closed -$51K
IEF icon
190
iShares 7-10 Year Treasury Bond ETF
IEF
$41.4B
– –
-970
Closed -$103K
IGIB icon
191
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$18.5B
– –
-9,477
Closed -$523K
IGSB icon
192
iShares 1-5 Year Investment Grade Corporate Bond ETF
IGSB
$23.4B
– –
-617
Closed -$33K
IHF icon
193
iShares US Healthcare Providers ETF
IHF
$1.31B
– –
-1,010
Closed -$34K
IHI icon
194
iShares US Medical Devices ETF
IHI
$3.27B
– –
-2,130
Closed -$82K
IIPR icon
195
Innovative Industrial Properties
IIPR
$1.54B
– –
-300
Closed -$25K
INTC icon
196
Intel
INTC
$534B
– –
-2,244
Closed -$121K
IVE icon
197
iShares S&P 500 Value ETF
IVE
$49B
– –
-679
Closed -$77K
IWB icon
198
iShares Russell 1000 ETF
IWB
$48.2B
– –
-638
Closed -$100K
IWD icon
199
iShares Russell 1000 Value ETF
IWD
$82B
– –
-223
Closed -$28K
IWF icon
200
iShares Russell 1000 Growth ETF
IWF
$123B
– –
-2,504
Closed -$95K
6 7
8
9 10

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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 Miscellaneous at 61% of assets, down from 83% a quarter earlier, followed by Communication Services and Energy.

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.