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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