Covalis Capital LLP
SEC Form 13F institutional filer · CIK 0001698819
13F-HR · 32 reported holdings · 2026-03-31
Hedge fund manager.
Reported long-US-equity value
$0.69B
Top-10 concentration
72.3%
Covalis Capital LLP — $690M AUM allocation strategy
Covalis Capital LLP files SEC Form 13F and reports $690M of long US equity value across 32 reported holdings for 2026-03-31.
Its largest sector bet is Utilities 35.8%, followed by Industrials 31.9% and Energy 15.2%.
The top 10 holdings account for 72% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Covalis Capital LLP — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$690M
total across 32 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
72% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$DTE +224K sh · +$33.3M+$SW +118K sh · +$4.81M+$ETN +118K sh · +$45.4M
Biggest trims (shares)
−$PCG −1.98M sh · −$20M−$WMB −97.3K sh · +$1.15M−$APH −83.1K sh · −$11.4M
Exited to nil (held last quarter, gone now)
$ES ($76.8M last qtr)$TMUS ($9.19M last qtr)$CVX ($6.13M last qtr)$FSLR ($5.91M last qtr)$BKR ($4.17M last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Multi-Utilities30.3%—
- Trading Companies & Distributors11.5%—
- Electrical Components & Equipment10.6%—
- Oil & Gas Storage & Transportation8.6%—
- Construction Machinery & Heavy Transportation Equipment6.7%—
- Oil & Gas Exploration & Production6.6%—
- Automobile Manufacturers3.7%—
- Electric Utilities3.6%—
- Other holdings18.4%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $PCG | Pacific Gas & Electric Co | 7.91M | $139M | -1.98M | 20.2% |
| $URI | United Rentals Inc | 108K | $79M | +77.8K | 11.5% |
| $ETN | Eaton Corporation PLC | 203K | $72.7M | +118K | 10.5% |
| $WMB | Williams Companies Inc | 553K | $40.2M | -97.3K | 5.8% |
| $DTE | DTE Energy Company | 262K | $38.3M | +224K | 5.5% |
| $XEL | Xcel Energy Inc | 401K | $31.8M | — | 4.6% |
| $GM | General Motors Company | 350K | $26.1M | — | 3.8% |
| $FANG | Diamondback Energy Inc | 128K | $25.3M | — | 3.7% |
| $CAT | Caterpillar Inc | 34.1K | $24.1M | -21K | 3.5% |
| $GNRC | Generac Holdlings Inc | 113K | $22.1M | +95K | 3.2% |
…and 22 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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