Covalis Capital LLP

Registered adviser

CIK

1698819

Location

LONDON, X0

Portfolio Value

Mid $1,759,377,843

Diversification

Diversified

Reports for

Covalis (Gibraltar) Ltd

Filing Date

Global Rank

#1,745 / 8,818 ▼ 75

Top Industry

Utilities - Regulated Electric 23.3%

Period ended 4 months ago

Filed Aug 13, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 174043

Roster of Oct 1, 2026

Regulatory AUM

$4,788,894,748

Main clients

Pooled investment vehicles (100% of AUM)

Private funds

2 funds · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$3,218,836,212 gross assets

LEI

213800VYVNUFHDOEFT08

Private funds on Schedule D 7.B.(1)

As filed Mar 28, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$2,210,921,569 gross assets in 3 funds Hedge funds $2,210,921,569 (3)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Oct 2026	$4,788,894,748	Pooled investment vehicles (100%)
Apr 2026 to Jun 2026	—	—
Apr 2025 to Mar 2026	—	—
Apr 2024 to Mar 2025	—	—
Jun 2023 to Mar 2024	—	—
May 2023	$0	—

1 earlier changes not shown.

Stated strategy

Fundamental active Form ADV Part 2A, Jun 30, 2026 · original

In the firm's words

Fundamental active: The Firm’s investment theses mainly originate from industry research, company meetings, periodic company and event calendar review.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 42.1%, 35.8 effective positions, active share 95.1% against the S&P MidCap 400 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

High turnover

186.2% over the last four quarters (100%+)

Horizon

Short horizon

Value-weighted holding period 3.2 quarters (under 4)

Closest benchmark: the S&P MidCap 400 as of 2026-06-30, active share 95.1%; sector active share 62.8% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

100 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

8.4%

−0.2 pts

Top 5

27.9%

−2.1 pts

Top 10

42.1%

−1.0 pts

HHI

279

Diversified−12

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Utilities	32.8%	$577,636,174	16
Energy	24.2%	$426,502,146	20
Consumer Cyclical	14.8%	$260,201,201	18
Industrials	12.7%	$222,942,797	20
Technology	6.9%	$121,993,811	11
Basic Materials	3.3%	$57,999,729	8
Financial Services	2.4%	$42,811,193	2
Communication Services	1.5%	$26,217,589	3
Real Estate	1.2%	$21,908,760	1
Consumer Defensive	0.1%	$1,164,443	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

19 positions

Ticker	Company	Δ Shares	Shares	Value
AM	Antero Midstream Corp	+2,046,353	3,031,515	$68,966,966
OI	O-I Glass, Inc.	+1,776,558	2,816,191	$27,119,919
AR	ANTERO RESOURCES Corp	+1,711,161	2,634,969	$92,592,810
PPL	PPL Corp	+1,468,012	1,788,306	$65,004,923
PCG	PG&E Corp	+858,647	8,772,024	$147,545,443
BKV	BKV Corp	+809,967	1,414,178	$38,691,910
EQT	EQT Corp	+636,679	956,598	$50,862,315
BWA	Borgwarner Inc	+361,586	514,287	$34,148,656
VALE	Vale S.A.	+348,108	905,082	$13,612,433
PBK	POWERBANK Corp	+159,005	509,005	$351,213
GM	General Motors Co	+132,425	482,202	$37,168,130
MDU	Mdu Resources Group Inc	+120,176	320,176	$6,790,932
EGO	Eldorado Gold Corp	+102,000	332,575	$10,339,756
FLR	Fluor Corp	+85,108	207,907	$10,892,247
SRE	Sempra	+70,916	85,265	$7,904,918
FPS	Forgent Power Solutions, Inc.	+24,259	350,000	$19,551,000
TECK	Teck Resources Ltd	+9,553	143,805	$8,550,645
SWX	Southwest Gas Holdings, Inc.	+4,272	22,898	$2,030,594
TRP	Tc Energy Corp	+2,924	303,624	$20,127,234
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
CORZ	Core Scientific, Inc.	−1,908,616	1,563,413	$40,007,738
WHR	Whirlpool Corp	−1,136,491	175,813	$6,930,548
WMG	Warner Music Group Corp.	−557,358	213,949	$5,791,599
WMB	Williams Companies, Inc.	−316,139	236,367	$17,571,522
MWH	SOLV Energy, Inc.	−297,110	400,000	$13,620,000
BKH	Black Hills Corp	−271,442	1,481,404	$110,216,457
RBA	Rb Global Inc.	−246,832	112,449	$13,094,686
XEL	Xcel Energy Inc	−214,817	186,000	$14,935,800
VC	Visteon Corp	−182,882	37,282	$3,698,747
JAGU	Jaguar Uranium Corp.	−179,797	520,201	$868,735
DAN	DANA Inc	−132,892	1,066,246	$29,012,553
NFG	National Fuel Gas Co	−118,135	64,082	$4,947,771
DTE	Dte Energy Co	−106,152	155,703	$23,724,466
GPI	Group 1 Automotive Inc	−57,834	64,293	$18,720,192
KNX	Knight-Swift Transportation Holdings Inc.	−52,524	113,215	$8,816,052
SARO	StandardAero, Inc.	−50,000	100,000	$2,991,000
HAL	Halliburton Co	−49,521	134,457	$4,564,815
TRGP	Targa Resources Corp.	−40,386	36,231	$9,714,980
CMI	Cummins Inc	−38,116	2,892	$2,062,603
DAR	Darling Ingredients Inc.	−37,333	21,319	$1,164,443
ABG	Asbury Automotive Group Inc	−35,253	16,466	$3,310,983
LAD	Lithia Motors Inc	−30,158	49,710	$14,440,257
NRG	Nrg Energy, Inc.	−21,736	68,264	$9,970,639
CAT	Caterpillar Inc	−13,153	20,906	$22,262,799
GNRC	Generac Holdings Inc.	−12,322	100,729	$29,494,458
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
AEE	Ameren Corp	629,746	$71,186,487
AEP	American Electric Power Co Inc	350,872	$48,002,798
LNG	Cheniere Energy, Inc.	188,557	$45,067,008
CRWV	CoreWeave, Inc.	410,049	$40,816,277
EMA	Emera Inc	734,477	$38,941,970
APA	APA Corp	1,006,739	$32,789,489
CLSK	Cleanspark, Inc.	1,973,047	$28,707,833
INIO	Innio N.V.	712,960	$28,197,568
SPCX	Space Exploration Technologies Corp	155,000	$26,483,300
DLR	Digital Realty Trust, Inc.	122,000	$21,908,760
VGNT	Versigent PLC	499,633	$20,989,582
AN	Autonation, Inc.	112,291	$20,862,544
LBTYA	Liberty Global Ltd.	1,645,963	$18,714,599
CIFR	Cipher Digital Inc.	751,077	$18,401,386
ALSN	Allison Transmission Holdings Inc	146,525	$16,519,228
IREN	IREN Ltd	308,405	$14,103,360
CRH	Crh Public Ltd Co	128,114	$13,708,198
OXY	Occidental Petroleum Corp	270,898	$13,157,515
MTZ	Mastec Inc	30,842	$12,832,122
WH	Wyndham Hotels & Resorts, Inc.	137,295	$11,561,611
VST	Vistra Corp.	63,683	$10,102,034
PRIM	Primoris Services Corp	91,093	$9,029,138
CHRW	C. H. Robinson Worldwide, Inc.	44,663	$8,411,829
TEX	Terex Corp	110,239	$7,980,201
FRVO	Fervo Energy Co	250,000	$7,307,500
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
URI	United Rentals, Inc.	108,487	$79,039,288
ETN	Eaton Corp plc	203,223	$72,686,770
FANG	Diamondback Energy, Inc.	128,110	$25,338,876
OGE	Oge Energy Corp.	508,422	$24,383,919
TLN	Talen Energy Corp	76,237	$24,337,137
VNOM	Viper Energy, Inc.	400,000	$18,796,000
RACE	Ferrari N.V.	53,740	$18,188,303
APTV	Aptiv PLC	252,462	$17,530,961
APLD	Applied Digital Corp.	738,143	$17,523,514
MYRG	Myr Group Inc.	53,546	$15,117,106
STLA	Stellantis N.V.	1,784,868	$12,654,714
FE	Firstenergy Corp	246,147	$12,469,807
STLD	Steel Dynamics Inc	63,385	$11,409,300
SHEL	Shell plc	106,629	$9,916,497
VIK	Viking Holdings Ltd	125,000	$9,185,000
CLF	Cleveland-Cliffs Inc.	1,080,308	$9,128,602
CVNA	Carvana Co.	28,821	$9,060,745
OMC	Omnicom Group Inc.	119,608	$9,007,678
KOS	Kosmos Energy Ltd.	3,162,820	$8,792,639
NVT	nVent Electric plc	73,461	$8,688,967
ULS	UL Solutions Inc.	100,000	$8,571,000
KALU	Kaiser Aluminum Corp	69,667	$8,395,570
RIVN	Rivian Automotive, Inc.	540,918	$8,140,815
SW	Smurfit Westrock plc	203,407	$8,105,768
BTU	Peabody Energy Corp	196,963	$6,489,930
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

100 tracked positions · $1,759,377,843 total · filing declares 101 positions · $1,772,221,193 · as of Jun 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Industrials Real Estate Technology Utilities

Showing 1–50 of 100 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
PCG	PG&E Corp Utilities	Added	8,772,024	+858,647	$147,545,443	+6.1%	14	$16.24	8.39%
BKH	Black Hills Corp Utilities	Reduced	1,481,404	-271,442	$110,216,457	−9.4%	3	$67.42	6.26%
AR	ANTERO RESOURCES Corp Energy	Added	2,634,969	+1,711,161	$92,592,810	+136.2%	3	$36.27	5.26%
AEE	Ameren Corp Utilities	NEW	629,746	NEW	$71,186,487	NEW	1	$110.50	4.05%
AM	Antero Midstream Corp Energy	Added	3,031,515	+2,046,353	$68,966,966	+207.0%	2	$21.37	3.92%
PPL	PPL Corp Utilities	Added	1,788,306	+1,468,012	$65,004,923	+431.3%	2	$36.93	3.69%
EQT	EQT Corp Energy	Added	956,598	+636,679	$50,862,315	+149.8%	2	$56.94	2.89%
AEP	American Electric Power Co Inc Utilities	NEW	350,872	NEW	$48,002,798	NEW	1	$131.73	2.73%
LNG	Cheniere Energy, Inc. Energy	NEW	188,557	NEW	$45,067,008	NEW	1	$249.08	2.56%
CRWV	CoreWeave, Inc. Technology	NEW	410,049	NEW	$40,816,277	NEW	1	$107.95	2.32%
CORZ	Core Scientific, Inc. Technology	Reduced	1,563,413	-1,908,616	$40,007,738	−23.0%	3	$17.44	2.27%
EMA	Emera Inc Utilities	NEW	734,477	NEW	$38,941,970	NEW	1	$52.42	2.21%
BKV	BKV Corp Energy	Added	1,414,178	+809,967	$38,691,910	+124.5%	3	$27.94	2.20%
GM	General Motors Co Consumer Cyclical	Added	482,202	+132,425	$37,168,130	+42.6%	2	$79.24	2.11%
BWA	Borgwarner Inc Consumer Cyclical	Added	514,287	+361,586	$34,148,656	+312.1%	2	$60.18	1.94%
APA	APA Corp Energy	NEW	1,006,739	NEW	$32,789,489	NEW	1	$37.55	1.86%
GNRC	Generac Holdings Inc. Industrials	Reduced	100,729	-12,322	$29,494,458	+33.6%	4	$189.34	1.68%
DAN	DANA Inc Consumer Cyclical	Reduced	1,066,246	-132,892	$29,012,553	−28.1%	6	$16.89	1.65%
CLSK	Cleanspark, Inc. Financial Services	NEW	1,973,047	NEW	$28,707,833	NEW	1	$14.11	1.63%
INIO	Innio N.V. Industrials	NEW	712,960	NEW	$28,197,568	NEW	1	unpriced	1.60%
OI	O-I Glass, Inc. Consumer Cyclical	Added	2,816,191	+1,776,558	$27,119,919	+148.2%	2	$11.02	1.54%
SPCX	Space Exploration Technologies Corp Industrials	NEW	155,000	NEW	$26,483,300	NEW	1	unpriced	1.51%
DTE	Dte Energy Co Utilities	Reduced	155,703	-106,152	$23,724,466	−38.0%	3	$139.90	1.35%
CAT	Caterpillar Inc Industrials	Reduced	20,906	-13,153	$22,262,799	−7.7%	5	$333.30	1.27%
DLR	Digital Realty Trust, Inc. Real Estate	NEW	122,000	NEW	$21,908,760	NEW	1	$191.52	1.25%
VGNT	Versigent PLC Consumer Cyclical	NEW	499,633	NEW	$20,989,582	NEW	1	$39.85	1.19%
AN	Autonation, Inc. Consumer Cyclical	NEW	112,291	NEW	$20,862,544	NEW	1	$195.55	1.19%
TRP	Tc Energy Corp Energy	Added	303,624	+2,924	$20,127,234	+6.9%	7	unpriced	1.14%
FPS	Forgent Power Solutions, Inc. Industrials	Added	350,000	+24,259	$19,551,000	+105.1%	2	$34.14	1.11%
GPI	Group 1 Automotive Inc Consumer Cyclical	Reduced	64,293	-57,834	$18,720,192	−53.6%	5	$385.45	1.06%
LBTYA	Liberty Global Ltd. Communication Services	NEW	1,645,963	NEW	$18,714,599	NEW	1	$11.95	1.06%
CIFR	Cipher Digital Inc. Technology	NEW	751,077	NEW	$18,401,386	NEW	1	$21.10	1.05%
WMB	Williams Companies, Inc. Energy	Reduced	236,367	-316,139	$17,571,522	−56.3%	7	$58.63	1.00%
ALSN	Allison Transmission Holdings Inc Consumer Cyclical	NEW	146,525	NEW	$16,519,228	NEW	1	$121.36	0.94%
XEL	Xcel Energy Inc Utilities	Reduced	186,000	-214,817	$14,935,800	−53.1%	2	$78.44	0.85%
LAD	Lithia Motors Inc Consumer Cyclical	Reduced	49,710	-30,158	$14,440,257	−27.6%	2	$297.04	0.82%
IREN	IREN Ltd Financial Services	NEW	308,405	NEW	$14,103,360	NEW	1	$51.99	0.80%
CRH	Crh Public Ltd Co Basic Materials	NEW	128,114	NEW	$13,708,198	NEW	1	$110.00	0.78%
MWH	SOLV Energy, Inc. Utilities	Reduced	400,000	-297,110	$13,620,000	−34.9%	2	$29.63	0.77%
VALE	Vale S.A. Basic Materials	Added	905,082	+348,108	$13,612,433	+53.6%	2	$15.87	0.77%
OXY	Occidental Petroleum Corp Energy	NEW	270,898	NEW	$13,157,515	NEW	1	$56.78	0.75%
RBA	Rb Global Inc. Industrials	Reduced	112,449	-246,832	$13,094,686	−62.0%	11	$96.77	0.74%
MTZ	Mastec Inc Industrials	NEW	30,842	NEW	$12,832,122	NEW	1	$382.29	0.73%
WH	Wyndham Hotels & Resorts, Inc. Consumer Cyclical	NEW	137,295	NEW	$11,561,611	NEW	1	$82.90	0.66%
FLR	Fluor Corp Industrials	Added	207,907	+85,108	$10,892,247	+90.1%	3	$46.99	0.62%
EGO	Eldorado Gold Corp Basic Materials	Added	332,575	+102,000	$10,339,756	+30.6%	2	$38.24	0.59%
VST	Vistra Corp. Utilities	NEW	63,683	NEW	$10,102,034	NEW	1	$155.14	0.57%
NRG	Nrg Energy, Inc. Utilities	Reduced	68,264	-21,736	$9,970,639	−24.2%	2	$157.35	0.57%
TRGP	Targa Resources Corp. Energy	Reduced	36,231	-40,386	$9,714,980	−49.4%	6	$212.73	0.55%
PRIM	Primoris Services Corp Industrials	NEW	91,093	NEW	$9,029,138	NEW	1	$131.47	0.51%

Showing the top 50 of 100 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.