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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
SYF icon
176
Synchrony
SYF
$25.8B
– –
-55,972
Closed -$1.98M
SYY icon
177
Sysco
SYY
$40.3B
– –
-50,986
Closed -$3.84M
TEVA icon
178
Teva Pharmaceuticals
TEVA
$40.5B
– –
-1,836
Closed -$29K
TTE icon
179
TotalEnergies
TTE
$188B
– –
-15,308
Closed -$777K
UAA icon
180
Under Armour
UAA
$2.92B
– –
-97
Closed -$2K
UNH icon
181
UnitedHealth
UNH
$375B
– –
-25,071
Closed -$2.65M
UNP icon
182
Union Pacific
UNP
$176B
– –
-18,194
Closed -$354K
VBR icon
183
Vanguard Morningstar Small-Cap Value ETF
VBR
$37.9B
– –
-6,649
Closed -$522K
VFC icon
184
VF Corp
VFC
$5.98B
– –
-8,833
Closed -$1.01M
VLO icon
185
Valero Energy
VLO
$87.1B
– –
-2,471
Closed -$273K
VOE icon
186
Vanguard Morningstar Mid-Cap Value ETF
VOE
$24B
– –
-7,573
Closed -$446K
VTI icon
187
Vanguard Morningstar Total Stock Market ETF
VTI
$681B
– –
-21,634
Closed -$303K
VUG icon
188
Vanguard Morningstar Growth ETF
VUG
$230B
– –
-60,402
Closed -$1.77M
WAB icon
189
Wabtec
WAB
$50B
– –
-24,208
Closed -$1.31M
WAT icon
190
Waters Corp
WAT
$39.3B
– –
-39,723
Closed -$1.65M
WFC icon
191
Wells Fargo
WFC
$270B
– –
-45,731
Closed -$3.21M
X
192
DELISTED
US Steel
X
– –
-10,099
Closed -$120K
XLE icon
193
State Street Energy Select Sector SPDR ETF
XLE
$37.6B
– –
-60,806
Closed -$1.21M
CONE
194
DELISTED
CyrusOne Inc Common Stock
CONE
– –
-4,474
Closed -$294K
PRAH
195
DELISTED
PRA Health Sciences, Inc.
PRAH
– –
-3,152
Closed -$313K
VER
196
DELISTED
VEREIT, Inc.
VER
– –
-7,561
Closed -$350K
RTN
197
DELISTED
Raytheon Company
RTN
– –
-85,404
Closed -$3.97M
EWEM
198
DELISTED
Invesco MSCI Emerging Markets Equal Country Weight ETF
EWEM
– –
-52,489
Closed -$1.69M
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.