Covalis Capital LL.P. 13F annual report

Covalis Capital LL.P. is an investment fund managing more than $735 billion ran by Chris Egbunike. There are currently 59 companies in Mr. Egbunike’s portfolio. The largest investments include National Grid Plc and PG&E, together worth $149 billion.

Limited to 30 biggest holdings

$735 billion Assets Under Management (AUM)

As of 6th August 2024, Covalis Capital LL.P.’s top holding is 1,530,345 shares of National Grid Plc currently worth over $86.9 billion and making up 11.8% of the portfolio value. Relative to the number of outstanding shares of National Grid Plc, Covalis Capital LL.P. owns more than approximately 0.1% of the company. In addition, the fund holds 3,529,368 shares of PG&E worth $61.6 billion, whose value grew 11.9% in the past six months. The third-largest holding is Devon worth $52.5 billion and the next is Pinnacle West Cap Corp worth $42.2 billion, with 552,588 shares owned.

Currently, Covalis Capital LL.P.'s portfolio is worth at least $735 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Covalis Capital LL.P.

The Covalis Capital LL.P. office and employees reside in London, United Kingdom. According to the last 13-F report filed with the SEC, Chris Egbunike serves as the Chief Compliance Officer at Covalis Capital LL.P..

Recent trades

In the most recent 13F filing, Covalis Capital LL.P. revealed that it had opened a new position in National Grid Plc and bought 1,530,345 shares worth $86.9 billion. This means they effectively own approximately 0.1% of the company. National Grid Plc makes up 29.9% of the fund's Utilities sector allocation and has decreased its share price by approximately 0.1% in the past year.

The investment fund also strengthened its position in Fluence Energy Inc by buying 760,625 additional shares. This makes their stake in Fluence Energy Inc total 1,972,140 shares worth $34.2 billion.

On the other hand, there are companies that Covalis Capital LL.P. is getting rid of from its portfolio. Covalis Capital LL.P. closed its position in Oneok on 13th August 2024. It sold the previously owned 853,589 shares for $68.4 billion. Chris Egbunike also disclosed a decreased stake in PG&E by 0.5%. This leaves the value of the investment at $61.6 billion and 3,529,368 shares.

One of the average hedge funds

The two most similar investment funds to Covalis Capital LL.P. are North American Management Corp and Cutler Investment Counsel. They manage $735 billion and $734 billion respectively.

Chris Egbunike investment strategy

Covalis Capital LL.P.’s portfolio is diversified across 9 sectors. Currently, their heaviest sector is Utilities — making up 39.6% of the total portfolio value. The fund focuses on investments in the United States as 52.5% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 34% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $33.1 billion.

The complete list of Covalis Capital LL.P. trades based on 13F SEC filings

These positions were updated on August 13th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
National Grid Plc	Opened 1,530,345	$86,923,596,000	11.83%
Oneok Inc.	Closed 853,589	$68,432,230,000
PG&E Corp.	47.15% 3,529,368	$61,622,765,000	8.38%
Devon Energy Corp.	Opened 1,107,519	$52,496,401,000	7.14%
Cenovus Energy Inc	Closed 2,583,398	$51,642,126,000
Pinnacle West Cap Corp	Opened 552,588	$42,206,671,000	5.74%
Fluence Energy Inc	62.78% 1,972,140	$34,196,908,000	4.65%
NRG Energy Inc.	Opened 428,188	$33,338,718,000	4.54%
NextEra Energy Partners LP	Closed 930,825	$27,999,216,000
Evergy Inc	Opened 458,197	$24,270,695,000	3.30%
Ford Mtr Co Del	Opened 1,638,506	$20,546,865,000	2.80%
Bloom Energy Corp	Closed 1,793,357	$20,157,333,000
Edison Intl	Opened 280,480	$20,141,269,000	2.74%
BorgWarner Inc	Opened 553,176	$17,834,394,000	2.43%
Group 1 Automotive, Inc.	17.16% 59,058	$17,556,762,000	2.39%
NiSource Inc	71.29% 575,534	$16,581,135,000	2.26%
Vistra Corp	Opened 190,740	$16,399,825,000	2.23%
Phinia Inc	18.69% 415,597	$16,357,898,000	2.23%
Xcel Energy Inc.	Closed 302,418	$16,254,968,000
General Mtrs Co	Closed 356,829	$16,182,195,000
Suncor Energy, Inc.	Opened 412,247	$15,706,611,000	2.14%
BP plc	Closed 411,331	$15,498,952,000
Paccar Inc.	Closed 122,945	$15,231,656,000
The Southern Co.	Opened 192,044	$14,896,853,000	2.03%
Ge Vernova Inc	Opened 82,337	$14,121,619,000	1.92%
NextEra Energy Inc	89.65% 197,510	$13,985,683,000	1.90%
RB Global Inc	40.70% 179,295	$13,690,966,000	1.86%
O-I Glass Inc	267.76% 1,228,397	$13,672,059,000	1.86%
Aptiv PLC	Opened 193,003	$13,591,271,000	1.85%
PPL Corp	53.04% 468,284	$12,948,053,000	1.76%
Sempra	Closed 169,919	$12,205,282,000
Liberty Global Ltd	43.66% 698,678	$12,177,958,000	1.66%
Alliant Energy Corp.	Opened 201,533	$10,258,030,000	1.40%
Asbury Automotive Group Inc	29.35% 43,658	$9,948,348,000	1.35%
BlackBerry Ltd	Closed 3,585,184	$9,895,108,000
Autoliv Inc.	Closed 79,588	$9,584,783,000
NextDecade Corporation	7.26% 1,204,679	$9,565,151,000	1.30%
MYR Group Inc	Opened 58,817	$7,982,055,000	1.09%
TC Energy Corporation	Opened 200,148	$7,585,609,000	1.03%
Occidental Pete Corp	Closed 114,661	$7,451,818,000
Mobileye Global Inc	Closed 230,819	$7,420,831,000
Stellantis N.V	Closed 260,198	$7,395,084,000
Visteon Corp.	Closed 62,276	$7,324,280,000
Xpeng Inc.	Closed 930,144	$7,143,506,000
Sunnova Energy International Inc	Closed 1,140,782	$6,992,994,000
Corteva Inc	58.86% 129,382	$6,978,865,000	0.95%
Primoris Svcs Corp	59.02% 137,131	$6,841,466,000	0.93%
EQT Corp	Opened 184,552	$6,824,733,000	0.93%
Vertiv Holdings Co	279.44% 77,144	$6,678,356,000	0.91%
Shell Plc	Closed 98,313	$6,590,904,000
Valero Energy Corp.	Opened 41,638	$6,527,173,000	0.89%
First Solar Inc	67.70% 26,865	$6,056,983,000	0.82%
Hallador Energy Co	Opened 777,842	$6,043,832,000	0.82%
Jabil Inc	Closed 40,804	$5,465,696,000
Public Svc Enterprise Grp In	Closed 78,198	$5,222,062,000
International Paper Co.	Closed 130,174	$5,079,389,000
Enbridge Inc	Closed 139,939	$5,062,993,000
Ameren Corp.	Opened 70,599	$5,020,295,000	0.68%
Clean Energy Fuels Corp	Opened 1,833,056	$4,894,260,000	0.67%
Quanta Svcs Inc	Opened 18,449	$4,687,706,000	0.64%
Chemours Company	279.35% 205,502	$4,638,180,000	0.63%
Adient plc	Opened 178,329	$4,406,510,000	0.60%
Rush Enterprises Inc	Opened 99,638	$4,171,843,000	0.57%
Array Technologies, Inc.	Opened 369,013	$3,786,073,000	0.52%
Carvana Co.	Opened 24,590	$3,165,225,000	0.43%
Ats Corporation	30.73% 95,561	$3,091,669,000	0.42%
Tyson Foods, Inc.	100.80% 53,648	$3,065,447,000	0.42%
Select Sector Spdr Tr	Closed 23,932	$3,014,475,000
Lear Corp.	Closed 20,651	$2,991,917,000
Crescent Energy Company	33.71% 248,599	$2,945,898,000	0.40%
International Flavors&fragra	Closed 23,831	$2,049,228,000
Fluor Corp New	46.86% 46,411	$2,021,199,000	0.27%
DuPont de Nemours Inc	Opened 24,656	$1,984,561,000	0.27%
Modine Mfg Co	Closed 19,281	$1,835,358,000
Silvaco Group Inc	Opened 90,000	$1,618,200,000	0.22%
Mosaic Co New	Opened 55,106	$1,592,563,000	0.22%
Cf Inds Hldgs Inc	Opened 17,320	$1,283,758,000	0.17%
Sibanye Stillwater Ltd	66.29% 227,640	$990,234,000	0.13%
Bitdeer Technologies Group	Opened 92,337	$947,378,000	0.13%
Terawulf Inc	Opened 208,333	$927,082,000	0.13%
Tesla Inc	Opened 4,428	$876,213,000	0.12%
Ramaco Res Inc	Closed 46,782	$787,809,000
Waystar Hldg Corp	Opened 35,000	$752,500,000	0.10%
Applied Digital Corp	Opened 110,558	$657,820,000	0.09%
Corporacion Amer Arpts S A	Opened 36,559	$608,342,000	0.08%
Net Power Inc	Closed 49,430	$563,008,000
Core Scientific Inc New	Opened 35,363	$328,876,000	0.04%
No transactions found
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