1y return+37.8%S&P 500 +20.9%
3y return+67.0%S&P 500 +68.5%
5y return+30.2%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2017: $136 against $280 in the S&P 500.2
Covalis Capital LLPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| PCGPg&e Corp | $147.5M | 8.3% | +10.9% |
| BKHBlack Hills Corp | $110.2M | 6.2% | −15.5% |
| ARAntero Resources Corp | $92.6M | 5.2% | +185.2% |
| AEEAmeren Corp | $71.2M | 4.0% | New |
| AMAntero Midstream Corp | $69.0M | 3.9% | +207.7% |
| PPLPpl Corp | $65.0M | 3.7% | +458.3% |
| EQTEqt Corp | $50.9M | 2.9% | +199.0% |
| AEPAmerican Elec Pwr Co Inc | $48.0M | 2.7% | New |
| LNGCheniere Energy Inc | $45.1M | 2.5% | New |
| CRWVCoreweave Inc | $40.8M | 2.3% | New |
| CORZCore Scientific Inc New | $40.0M | 2.3% | −55.0% |
| EMAEmera Inc | $38.9M | 2.2% | New |
| BKVBkv Corp | $38.7M | 2.2% | +134.1% |
| GMGeneral Mtrs Co | $37.2M | 2.1% | +37.9% |
| BWABorgwarner Inc | $34.1M | 1.9% | +236.8% |
| APAApa Corporation | $32.8M | 1.9% | New |
| GNRCGenerac Hldgs Inc | $29.5M | 1.7% | −10.9% |
| DANDana Inc | $29.0M | 1.6% | −11.1% |
| CLSKCleanspark Inc | $28.7M | 1.6% | New |
| Innio NvCUSIP N52A8C105 | $28.2M | 1.6% | New |
| OIO-i Glass Inc | $27.1M | 1.5% | +170.9% |
| SPCXSpace Exploration Techn Corp | $26.5M | 1.5% | New |
| DTEDte Energy Co | $23.7M | 1.3% | −40.5% |
| CATCaterpillar Inc | $22.3M | 1.3% | −38.6% |
| DLRDigital Rlty Tr Inc | $21.9M | 1.2% | New |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| CATCaterpillar Inc | June 30, 2025 | +174.3% | $22.3M |
| DANDana Inc | March 31, 2025 | +104.1% | $29.0M |
| FPSForgent Power Solutions Inc | March 31, 2026 | +90.8% | $19.6M |
| CORZCore Scientific Inc New | December 31, 2025 | +75.8% | $40.0M |
| GNRCGenerac Hldgs Inc | September 30, 2025 | +74.9% | $29.5M |
| TRPTc Energy Corp | December 31, 2024 | +42.5% | $20.1M |
| WMBWilliams Cos Inc | December 31, 2024 | +37.4% | $17.6M |
| BWABorgwarner Inc | March 31, 2026 | +22.4% | $34.1M |
| DTEDte Energy Co | December 31, 2025 | +18.1% | $23.7M |
| LADLithia Mtrs Inc | March 31, 2026 | +16.3% | $14.4M |
Sold off last quarter
- URIUnited Rentals Inc was $79.0M
- Eaton Corp PLCCUSIP G29183103 was $72.7M
- FANGDiamondback Energy Inc was $25.3M
- OGEOge Energy Corp was $24.4M
- TLNTalen Energy Corp was $24.3M
- VNOMViper Energy Inc was $18.8M
- Ferrari N VCUSIP N3167Y103 was $18.2M
- Aptiv PLCCUSIP G3265R107 was $17.5M
- APLDApplied Digital Corp was $17.5M
- MYRGMyr Group Inc was $15.1M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +9.7% | +14.8% |
| March 31, 2026 | +7.0% | −4.6% |
| December 31, 2025 | +4.7% | +2.4% |
| September 30, 2025 | +12.1% | +7.8% |
| June 30, 2025 | +13.1% | +10.5% |
| March 31, 2025 | −3.5% | −4.6% |
| December 31, 2024 | +2.4% | +2.1% |
| September 30, 2024 | +12.5% | +5.4% |
| June 30, 2024 | +2.1% | +4.0% |
| March 31, 2024 | −2.4% | +10.0% |
| December 31, 2023 | +7.0% | +11.2% |
| September 30, 2023 | −9.7% | −3.6% |
| June 30, 2023 | −4.0% | +8.3% |
| March 31, 2023 | −4.1% | +7.0% |
| December 31, 2022 | +2.2% | +7.1% |
| September 30, 2022 | −5.3% | −5.3% |
| June 30, 2022 | −7.8% | −16.5% |
| March 31, 2022 | −7.7% | −4.9% |
| December 31, 2021 | +4.1% | +10.7% |
| September 30, 2021 | −1.2% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Covalis Capital LLP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1698819&type=13F-HR&dateb=&owner=include&count=40CIK 1698819
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1698819/000117266126003382/Filed August 13, 2026 · accession 0001172661-26-003382