Covalis Capital LLP
Sector Allocation
- Utilities31.3%$554.8M
- Energy25.1%$443.7M
- Industrials11.3%$201.1M
- Technology9.8%$174.2M
- Consumer Discretionary6.2%$109.1M
- Financials6.0%$107.0M
- Materials5.5%$98.2M
- Other1.9%$33.9M
- Communication Services1.5%$26.2M
- Real Estate1.2%$21.9M
AUM History
13fpro.ai/research/fund/covalis-capital-llp-1698819
Conviction and streaks
Stable · top 10 = 41.8%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
PCG
$147.5MBKH
$110.2MAR
$92.6MAEE
$71.2MAM
$69.0MPPL
$65.0MEQT
$50.9MAEP
$48.0MLNG
$45.1MCRWV
$40.8MCORZ
$40.0MEMA
$38.9MBKV
$38.7MGM
$37.2MBWA
$34.1MAPA
$32.8MGNRC
$29.5MDAN
$29.0MCLSK
$28.7MINIO
$28.2M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/covalis-capital-llp-1698819
Covalis Capital LLP 13F holdings — Q2 2026
$1.8B portfolio (+9.0% QoQ) · 101 holdings · Q2 2026 13F · top 10 are 42% of the stock portfolio
Includes $737K of put/call options ($0 puts, $737K calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $1.8B. Weights use the stock portfolio.
$147.5M
8.3% of stocks
+11%This quarter-26.4%Since filed3+ qtrsHeld$110.2M
6.2% of stocks
-15%This quarter+8.5%Since filed3+ qtrsHeldAIQuality49.0#1,704Est. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row$92.6M
5.2% of stocks
+185%This quarter+12.8%Since filed3+ qtrsHeld$71.2M
4.0% of stocks
NewThis quarter-0.9%Since filedNew this quarterHeld$69.0M
3.9% of stocks
+208%This quarter-5.8%Since filed2 qtrsHeld$65.0M
3.7% of stocks
+458%This quarter-2.1%Since filed2 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$50.9M
2.9% of stocks
+199%This quarter+1.4%Since filed2 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$48.0M
2.7% of stocks
NewThis quarter+3.1%Since filedNew this quarterHeld$45.1M
2.5% of stocks
NewThis quarter+12.8%Since filedNew this quarterHeld$40.8M
2.3% of stocks
NewThis quarter-48.1%Since filedNew this quarterHeld
All holdings — Covalis Capital LLP (Q2 2026)
101 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | Core Scientific, Inc./tx | Financials | $40.0M | 2.3% | 1.56M | -55% | 3+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | EMERA INC | Utilities | $38.9M | 2.2% | 734K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | BKV Corp | Energy | $38.7M | 2.2% | 1.41M | +134% | 3+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | General Motors Co | Consumer Discretionary | $37.2M | 2.1% | 482K | +38% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | BORGWARNER INC | Industrials | $34.1M | 1.9% | 514K | +237% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | APA Corp | Energy | $32.8M | 1.9% | 1.01M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | GENERAC HOLDINGS INC. | Technology | $29.5M | 1.7% | 101K | -11% | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | DANA Inc | Industrials | $29.0M | 1.6% | 1.07M | -11% | 3+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | CLEANSPARK, INC. | Financials | $28.7M | 1.6% | 1.97M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | INNIO N.V. | Technology | $28.2M | 1.6% | 713K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | O-I Glass, Inc. /DE/ | Materials | $27.1M | 1.5% | 2.82M | +171% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | SPACE EXPLORATION TECHNOLOGIES CORP | Technology | $26.5M | 1.5% | 155K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | DTE ENERGY CO | Utilities | $23.7M | 1.3% | 156K | -41% | 3+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | CATERPILLAR INC | Industrials | $22.3M | 1.3% | 21K | -39% | 3+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | DIGITAL REALTY TRUST, INC. | Real Estate | $21.9M | 1.2% | 122K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | — | VERSIGENT PLC - ORDINARY SHARES | — | $21.0M | 1.2% | 500K | New | |||
| 27 | $AN | AUTONATION, INC. | Consumer Discretionary | $20.9M | 1.2% | 112K | New | |||
| 28 | $TRP | TC ENERGY CORP | Energy | $20.1M | 1.1% | 304K | +1.0% | |||
| 29 | $FPS | Forgent Power Solutions, Inc. | Technology | $19.6M | 1.1% | 350K | +7% | |||
| 30 | $GPI | GROUP 1 AUTOMOTIVE INC | Consumer Discretionary | $18.7M | 1.1% | 64K | -47% | |||
| 31 | $LBTYA | Liberty Global Ltd. | Communication Services | $18.7M | 1.1% | 1.65M | New | |||
| 32 | $CIFR | Cipher Digital Inc. | Financials | $18.4M | 1.0% | 751K | New | |||
| 33 | $WMB | WILLIAMS COMPANIES, INC. | Energy | $17.6M | 1.0% | 236K | -57% | |||
| 34 | $ALSN | Allison Transmission Holdings Inc | Industrials | $16.5M | 0.9% | 147K | New | |||
| 35 | $XEL | XCEL ENERGY INC | Utilities | $14.9M | 0.8% | 186K | -54% | |||
| 36 | $LAD | LITHIA MOTORS INC | Consumer Discretionary | $14.4M | 0.8% | 50K | -38% | |||
| 37 | $IREN | IREN Ltd | Financials | $14.1M | 0.8% | 308K | New | |||
| 38 | $CRH | CRH PUBLIC LTD CO | Materials | $13.7M | 0.8% | 128K | New | |||
| 39 | $MWH | SOLV Energy, Inc. | Industrials | $13.6M | 0.8% | 400K | -43% | |||
| 40 | $VALE | Vale S.A. | Materials | $13.6M | 0.8% | 905K | +62% | |||
| 41 | $OXY | OCCIDENTAL PETROLEUM CORP /DE/ | Energy | $13.2M | 0.7% | 271K | New | |||
| 42 | $RBA | RB GLOBAL INC. | Industrials | $13.1M | 0.7% | 112K | -69% | |||
| 43 | — | WHIRLPOOL CORP - 8.5 DEP SR A CNV | — | $13.0M | 0.7% | 369K | +17% | |||
| 44 | $MTZ | MASTEC INC | Energy | $12.8M | 0.7% | 31K | New | |||
| 45 | $WH | WYNDHAM HOTELS & RESORTS, INC. | Consumer Discretionary | $11.6M | 0.7% | 137K | New | |||
| 46 | $FLR | FLUOR CORP | Industrials | $10.9M | 0.6% | 208K | +69% | |||
| 47 | $EGO | ELDORADO GOLD CORP /FI | Materials | $10.3M | 0.6% | 333K | +44% | |||
| 48 | $VST | Vistra Corp. | Utilities | $10.1M | 0.6% | 64K | New | |||
| 49 | $NRG | NRG ENERGY, INC. | Utilities | $10.0M | 0.6% | 68K | -24% | |||
| 50 | $TRGP | Targa Resources Corp. | Energy | $9.7M | 0.6% | 36K | -53% | |||
| 51 | $PRIM | Primoris Services Corp | Energy | $9.0M | 0.5% | 91K | New | |||
| 52 | $KNX | Knight-Swift Transportation Holdings Inc. | Industrials | $8.8M | 0.5% | 113K | -32% | |||
| 53 | $TECK | TECK RESOURCES LTD | Materials | $8.6M | 0.5% | 144K | +7% | |||
| 54 | $CHRW | C. H. ROBINSON WORLDWIDE, INC. | Industrials | $8.4M | 0.5% | 45K | New | |||
| 55 | $TEX | TEREX CORP | Industrials | $8.0M | 0.5% | 110K | New | |||
| 56 | $SRE | SEMPRA | Utilities | $7.9M | 0.5% | 85K | +494% | |||
| 57 | $FRVO | Fervo Energy Co | Utilities | $7.3M | 0.4% | 250K | New | |||
| 58 | $WHR | WHIRLPOOL CORP /DE/ | Technology | $6.9M | 0.4% | 176K | -87% | |||
| 59 | $MDU | MDU RESOURCES GROUP INC | Materials | $6.8M | 0.4% | 320K | +60% | |||
| 60 | $KNTK | Kinetik Holdings Inc. | Energy | $6.6M | 0.4% | 136K | New | |||
| 61 | $LGN | Legence Corp. | Industrials | $6.4M | 0.4% | 75K | -6% | |||
| 62 | $MOD | MODINE MANUFACTURING CO | Industrials | $6.2M | 0.3% | 23K | New | |||
| 63 | $WMG | Warner Music Group Corp. | Communication Services | $5.8M | 0.3% | 214K | -72% | |||
| 64 | $EROK | EagleRock Land, LLC | Financials | $5.8M | 0.3% | 271K | New | |||
| 65 | $ADNT | Adient plc | Industrials | $5.6M | 0.3% | 304K | New | |||
| 66 | $XE | X-Energy, Inc. | Industrials | $5.5M | 0.3% | 301K | New | |||
| 67 | $ITRI | ITRON, INC. | Technology | $5.5M | 0.3% | 63K | New | |||
| 68 | $DPC | DPC Holdings PLC | Materials | $5.4M | 0.3% | 110K | New | |||
| 69 | $XOM.R34088 | EXXON MOBIL CORP | Energy | $5.1M | 0.3% | 37K | New | |||
| 70 | $FCX | FREEPORT-MCMORAN INC | Materials | $5.0M | 0.3% | 80K | New | |||
| 71 | $NFG | NATIONAL FUEL GAS CO | Energy | $4.9M | 0.3% | 64K | -65% | |||
| 72 | $HAL | HALLIBURTON CO | Energy | $4.6M | 0.3% | 134K | -27% | |||
| 73 | $ST | Sensata Technologies Holding plc | Technology | $4.5M | 0.3% | 93K | New | |||
| 74 | $KGS | Kodiak Gas Services, Inc. | Energy | $4.4M | 0.3% | 59K | New | |||
| 75 | $FSLR | FIRST SOLAR, INC. | Technology | $4.0M | 0.2% | 17K | New | |||
| 76 | $VC | VISTEON CORP | Industrials | $3.7M | 0.2% | 37K | -83% | |||
| 77 | $ABG | ASBURY AUTOMOTIVE GROUP INC | Consumer Discretionary | $3.3M | 0.2% | 16K | -68% | |||
| 78 | $QNT | Quantinuum Inc. | Technology | $3.3M | 0.2% | 40K | New | |||
| 79 | $SARO | StandardAero, Inc. | Industrials | $3.0M | 0.2% | 100K | -33% | |||
| 80 | $CX | CEMEX SAB DE CV | Materials | $2.7M | 0.1% | 228K | New | |||
| 81 | $CBRS | Cerebras Systems Inc. | Technology | $2.2M | 0.1% | 10K | New | |||
| 82 | $NXT | Nextpower Inc. | Technology | $2.1M | 0.1% | 17K | New | |||
| 83 | $CMI | CUMMINS INC | Industrials | $2.1M | 0.1% | 2,892 | -93% | |||
| 84 | $NMG | Nouveau Monde Graphite Inc. | Materials | $2.0M | 0.1% | 1.36M | New | |||
| 85 | $SWX | Southwest Gas Holdings, Inc. | Energy | $2.0M | 0.1% | 23K | +23% | |||
| 86 | $KMX | CARMAX INC | Consumer Discretionary | $2.0M | 0.1% | 38K | New | |||
| 87 | $HBM | Hudbay Minerals Inc. | Materials | $2.0M | 0.1% | 85K | New | |||
| 88 | $DTM | DT Midstream, Inc. | Energy | $1.9M | 0.1% | 13K | -16% | |||
| 89 | $SOC | Sable Offshore Corp. | Energy | $1.8M | 0.1% | 596K | New | |||
| 90 | $ECHO | EchoStar CORP | Communication Services | $1.7M | 0.1% | 17K | New | |||
| 91 | $HONA | Honeywell Aerospace Inc. | Industrials | $1.3M | 0.1% | 6,000 | New | |||
| 92 | $MAIR | Madison Air Solutions Corp | Industrials | $1.2M | 0.1% | 30K | New | |||
| 93 | $DAR | DARLING INGREDIENTS INC. | Consumer Staples | $1.2M | 0.1% | 21K | -64% | |||
| 94 | $XPO | XPO, Inc. | Industrials | $1.0M | 0.1% | 5,011 | New | |||
| 95 | $TSLA | Tesla, Inc. | Consumer Discretionary | $1.0M | 0.1% | 2,428 | New | |||
| 96 | $MUR | MURPHY OIL CORP | Energy | $948K | 0.1% | 29K | New | |||
| 97 | $JAGU | Jaguar Uranium Corp. | Materials | $869K | 0.1% | 520K | -26% | |||
| 98 | $OCTV | Octave Intelligence plc | Technology | $786K | 0.0% | 48K | New | |||
| 99 | $STLA CALL | Stellantis N.V. | Consumer Discretionary | $737K | — | 148K | — | |||
| 100 | $WOLF | WOLFSPEED, INC. | Technology | $483K | 0.0% | 10K | -50% | |||
| 101 | $PBK | POWERBANK Corp | Industrials | $351K | 0.0% | 509K | +45% |
What changed in Q2 2026
Against the previous quarter's 13F: 52 new, 20 added to, 28 trimmed, 74 sold out. Share-count changes; largest moves by dollar size first.
New positions (52)
$AEEAMEREN CORP$71.2M
first bought this quarter
$AEPAMERICAN ELECTRIC POWER CO INC$48.0M
first bought this quarter
$LNGCheniere Energy, Inc.$45.1M
first bought this quarter
$CRWVCoreWeave, Inc.$40.8M
first bought this quarter
$EMAEMERA INC$38.9M
first bought this quarter
$APAAPA Corp$32.8M
first bought this quarter
+46 more in the Excel export
Added to (20)
$ARANTERO RESOURCES Corp+185%
now $92.6M · held 3+ qtrs, 2 adds in a row
$PPLPPL Corp+458%
now $65.0M · held 2 qtrs, 2 adds in a row
$AMAntero Midstream Corp+208%
now $69.0M · held 2 qtrs, 2 adds in a row
$EQTEQT Corp+199%
now $50.9M · held 2 qtrs, 2 adds in a row
$BWABORGWARNER INC+237%
now $34.1M · held 2 qtrs, 2 adds in a row
$BKVBKV Corp+134%
now $38.7M · held 3+ qtrs, 2 adds in a row
+14 more in the Excel export
Trimmed (28)
$CORZCore Scientific, Inc./tx-55%
now $40.0M · held 3+ qtrs, 2 trims in a row
$WHRWHIRLPOOL CORP /DE/-87%
now $6.9M · held 2 qtrs
$RBARB GLOBAL INC.-69%
now $13.1M · held 3+ qtrs
$CMICUMMINS INC-93%
now $2.1M · held 3+ qtrs, 2 trims in a row
$WMBWILLIAMS COMPANIES, INC.-57%
now $17.6M · held 3+ qtrs, 2 trims in a row
$BKHBLACK HILLS CORP /SD/-15%
now $110.2M · held 3+ qtrs, 2 trims in a row
+22 more in the Excel export
Holdings by quarter
Every 13F Covalis Capital LLP has filed, 34 earlier quarters. Pick one to see what it held then.
Is it too late to follow Covalis Capital LLP?
Q2 2026 13F filed with the SEC on Aug 13, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Covalis Capital LLP's top 20 holdings: 57/100 (our AI quality score, weighted by position size; 17 of the 20 are scored)
Top 10 since filing
-4.8%
Value-weighted move of the 10 largest stock positions
Turnover
53%
Last quarter
Top 10 weight
42%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
0%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q4 2025 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Covalis Capital LLP disclosed 101 positions worth $1.8B in its Form 13F-HR for Q2 2026 — $1.8B in common stock plus $737,040 of put/call option positions (reported at underlying notional value, not premium at risk), led by $PCG (PG&E Corp) at 8.3% of the equity portfolio, followed by $BKH and $AR. During the quarter the fund opened 52 new positions and exited 74 — including a new stake in $AEE and a full exit from $URI. The portfolio is most concentrated in Utilities (31.3% of disclosed assets). All figures are sourced directly from Covalis Capital LLP’s Form 13F-HR filing with the SEC under CIK 1698819.
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