SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Covalis Capital LLP

CIK 0001698819 · 11 CHARLES II STREET, 2ND FLOOR, LONDON, SW1Y 4QU · 00442035406864

Reported Value
$823M
Q2 2025
Positions
57
Filings on Record
37
2019–present window
Filed
Aug 12, 2025
original filing

Summary

Covalis Capital LLP reported $823M in U.S.-listed holdings across 57 positions for Q2 2025.

Its largest position, PCG, represents 13.9% of the portfolio.

Compared with Q1 2025, the fund opened 36 new positions and exited 32.

Portfolio Metrics

Turnover
+41.6%
vs prior filed quarter
Top-10 Concentration
+49.5%
share of reported value
Largest Position
+13.9%
Pg E
New / Exited
36 / 32
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $108MQ1 ’19Q2 ’19: $147MQ3 ’19: $90MQ4 ’19: $252MQ1 ’20: $217MQ1 ’20Q2 ’20: $262MQ3 ’20: $235MQ4 ’20: $273MQ1 ’21: $485MQ1 ’21Q2 ’21: $485MQ3 ’21: $433MQ4 ’21: $274MQ1 ’22: $367MQ1 ’22Q2 ’22: $520MQ3 ’22: $436MQ4 ’22: $423MQ1 ’23: $357MQ1 ’23Q2 ’23: $466MQ3 ’23: $565MQ4 ’23: $615MQ1 ’24: $810MQ1 ’24Q2 ’24: $736MQ3 ’24: $711MQ4 ’24: $684MQ1 ’25: $528MQ1 ’25Q2 ’25: $823MQ3 ’25: $858MQ4 ’25: $1.4BQ1 ’26: $1.6BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 92.1%Other: 7.1%NY Reg Shrs: 0.4%REIT: 0.3%
  • Common Stock · 92.1% · $758M
  • Other · 7.1% · $58M
  • NY Reg Shrs · 0.4% · $4M
  • REIT · 0.3% · $3M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ESEVERSOURCE ENERGYNEW+1.12M1.12M+$71M$71M
CATCATERPILLAR INCNEW+86.5K86.5K+$34M$34M
PCARPACCAR INCNEW+322.0K322.0K+$31M$31M
PPGPPG INDS INCNEW+183.4K183.4K+$21M$21M
PORPORTLAND GEN ELEC CONEW+441.0K441.0K+$18M$18M
LIBERTY GLOBAL LTDNEW+1.70M1.70M+$17M$17M
BWABORGWARNER INCNEW+483.0K483.0K+$16M$16M
ALBALBEMARLE CORPNEW+249.5K249.5K+$16M$16M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2025

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PCGPG&E CORPhistory →COM13.93%$115M8.22M
2ESEVERSOURCE ENERGYhistory →COM8.67%$71M1.12M
3PEGPUBLIC SVC ENTERPRISE GRP INhistory →COM4.46%$37M436.0K
4CATCATERPILLAR INChistory →COM4.08%$34M86.5K
5PCARPACCAR INChistory →COM3.72%$31M322.0K
6CMICUMMINS INChistory →COM3.05%$25M76.7K
7VCVISTEON CORPhistory →COM NEW3.05%$25M268.6K
8GMGENERAL MTRS COhistory →COM3.04%$25M508.9K
9TRPTC ENERGY CORPhistory →COM2.98%$25M502.9K
10DARDARLING INGREDIENTS INChistory →COM2.55%$21M552.7K
11PPGPPG INDS INChistory →COM2.54%$21M183.4K
12DTMDT MIDSTREAM INChistory →COMMON STOCK2.40%$20M179.5K
13WMBWILLIAMS COS INChistory →COM2.29%$19M300.5K
14OSKOSHKOSH CORPhistory →COM2.27%$19M164.4K
15PORPORTLAND GEN ELEC COhistory →COM NEW2.18%$18M441.0K
16LIBERTY GLOBAL LTDCOM CL A2.07%$17M1.70M
17RBARB GLOBAL INChistory →COM2.04%$17M158.3K
18BWABORGWARNER INChistory →COM1.97%$16M483.0K
194DHDANA INChistory →COM1.93%$16M926.2K
20ALBALBEMARLE CORPhistory →COM1.90%$16M249.5K
21WMGWARNER MUSIC GROUP CORPhistory →COM CL A1.88%$15M566.6K
22GPIGROUP 1 AUTOMOTIVE INChistory →COM1.58%$13M29.8K
23APTIV PLCCOM SHS1.58%$13M190.4K
24TE CONNECTIVITY PLCORD SHS1.23%$10M59.9K
25OMCOMNICOM GROUP INChistory →COM1.20%$10M137.2K
26MTZMASTEC INChistory →COM1.15%$9M55.5K
27FFORD MTR COhistory →COM1.08%$9M818.2K
28SENSATA TECHNOLOGIES HLDG PLSHS1.03%$8M281.9K
29VRTVERTIV HOLDINGS COhistory →COM CL A1.00%$8M64.3K
30EATON CORP PLCSHS0.94%$8M21.8K
31BEBLOOM ENERGY CORPCOM CL A0.90%$7M310.0K
32ONON SEMICONDUCTOR CORPCOM0.90%$7M141.2K
33LNGCHENIERE ENERGY INCCOM NEW0.81%$7M27.2K
34URIUNITED RENTALS INCCOM0.78%$6M8.5K
35ANAUTONATION INCCOM0.75%$6M31.0K
36UGIUGI CORP NEWCOM0.74%$6M167.3K
37CRCLCIRCLE INTERNET GROUP INCCOM CL A0.74%$6M33.5K
38OKLOOKLO INCCOM CL A0.68%$6M100.0K
39PHINPHINIA INCCOMMON STOCK0.65%$5M120.3K
40RUNSUNRUN INCCOM0.60%$5M605.3K
41KNTKKINETIK HOLDINGS INCCOM NEW CL A0.58%$5M109.0K
42ARCELORMITTAL SA LUXEMBOURGNY REGISTRY SH0.44%$4M115.4K
43IEIVANHOE ELECTRIC INCCOM0.43%$4M392.7K
44TRGPTARGA RES CORPCOM0.40%$3M19.1K
45CCL1EURCARNIVAL CORPUNIT 99/99/99990.36%$3M104.2K
46IPINTERNATIONAL PAPER COCOM0.35%$3M62.1K
47WYWEYERHAEUSER CO MTN BECOM NEW0.34%$3M109.1K
48MBLYMOBILEYE GLOBAL INCCOMMON CLASS A0.29%$2M131.3K
49WHWYNDHAM HOTELS & RESORTS INCCOM0.28%$2M28.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.6B123May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.4B76Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$858M54Nov 14, 2025RESTATEMENTchanges · EDGAR ↗
Q2 2025$823M57Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$528M53May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$684M61Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$711M51Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$736M61Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$810M52May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$615M56Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$565M51Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$466M40Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$357M34May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$423M50Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$436M56Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$520M64Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$367M80May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$274M83Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$433M123Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$485M84Aug 23, 2021RESTATEMENTchanges · EDGAR ↗
Q1 2021$485M84May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$273M20Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$235M18Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$262M11Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$217M13May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$252M10Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$90M10Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$147M22Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$108M15May 15, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • Covalis (Gibraltar) Ltd028-21343

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.