Q2 2026 13F · SEC CIK 1698819

Covalis Capital LLP

Hedge fundFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.8B
Reported positions: 100
Top holdings a year, 3 yrs: +12.0%
Assets under management: $4.8B

Covalis Capital LLP is a hedge fund that reported 100 positions worth $1.8B in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Pg&e Corp (PCG, 8.3%), Black Hills (BKH, 6.2%), Antero Resources Corp (AR, 5.2%). A portfolio copying its top holdings returned 12.0% a year over the last 3 years, against 20.4% for the S&P 500.

Covalis Capital LLP holdings largest 50 of 100 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Covalis Capital LLP 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
PCGPg&e Corp	8.3%	8.6%	8,772,024	+10.9%	$147.5M
BKHBlack Hills	6.2%	7.5%	1,481,404	-15.5%	$110.2M
ARAntero Resources Corp	5.2%	2.4%	2,634,969	+185.2%	$92.6M
AEEAmeren Corp	4.0%	—	629,746	—	$71.2M
AMAntero Midstream Corp	3.9%	1.4%	3,031,515	+207.7%	$69.0M
PPLPpl Corp	3.7%	0.8%	1,788,306	+458.3%	$65.0M
EQTEqt Corp	2.9%	1.3%	956,598	+199.0%	$50.9M
AEPAmerican Elec Pwr Co Inc	2.7%	—	350,872	—	$48.0M
LNGCheniere Energy Inc	2.5%	—	188,557	—	$45.1M
CRWVCoreweave Inc	2.3%	—	410,049	—	$40.8M
CORZCore Scientific Inc New	2.3%	3.2%	1,563,413	-55.0%	$40.0M
EMAEmera Inc	2.2%	—	734,477	—	$38.9M
BKVBkv Corp	2.2%	1.1%	1,414,178	+134.1%	$38.7M
GMGeneral Mtrs Co	2.1%	1.6%	482,202	+37.9%	$37.2M
BWABorgwarner Inc	1.9%	—	514,287	—	$34.1M
APAApa Corporation	1.9%	—	1,006,739	—	$32.8M
GNRCGenerac Hldgs Inc	1.7%	1.4%	100,729	-10.9%	$29.5M
DANDana Holding Corp	1.6%	2.5%	1,066,246	-11.1%	$29.0M
CLSKCleanspark Inc Com New	1.6%	—	1,973,047	—	$28.7M
INIOInnio NV	1.6%	—	712,960	—	$28.2M
OIO-I Glass Inc	1.5%	0.7%	2,816,191	+170.9%	$27.1M
SPCXSpace Exploration Techn Corp	1.5%	—	155,000	—	$26.5M
DTEDte Energy Company	1.3%	2.4%	155,703	-40.5%	$23.7M
CATCaterpillar Inc	1.3%	1.5%	20,906	-38.6%	$22.3M
DLRDigital Rlty Tr Inc	1.2%	—	122,000	—	$21.9M
VGNTVersigent PLC	1.2%	—	499,633	—	$21.0M
ANAutonation Inc Com	1.2%	—	112,291	—	$20.9M
TRPTc Energy Corp	1.1%	1.2%	303,624	+1.0%	$20.1M
FPSForgent Power Solutions Inc	1.1%	0.6%	350,000	+7.4%	$19.6M
GPIGroup 1 Automotive Inc	1.1%	2.5%	64,293	-47.4%	$18.7M
LBTYALiberty Global-A	1.1%	—	1,645,963	—	$18.7M
CIFRCipher Digital Inc	1.0%	—	751,077	—	$18.4M
WMBWilliams Cos	1.0%	2.5%	236,367	-57.2%	$17.6M
ALSNAllison Transmission Hldgs I	0.9%	—	146,525	—	$16.5M
XELXcel Energy Inc	0.8%	2.0%	186,000	-53.6%	$14.9M
LADLithia Motors Inc	0.8%	1.2%	49,710	-37.8%	$14.4M
IRENIren Limited	0.8%	—	308,405	—	$14.1M
CRHCrh PLC	0.8%	—	128,114	—	$13.7M
MWHSolv Energy Inc	0.8%	1.3%	400,000	-42.6%	$13.6M
VALEVale S A	0.8%	—	905,082	—	$13.6M
OXYOccidental Pete Corp	0.7%	—	270,898	—	$13.2M
RBARb Global Inc	0.7%	2.1%	112,449	-68.7%	$13.1M
963320205Whirlpool Corp	0.7%	0.8%	369,000	+17.1%	$13.0M
MTZMasTec Inc	0.7%	—	30,842	—	$12.8M
WHWyndham Hotels & Resorts Inc	0.7%	—	137,295	—	$11.6M
FLRFluor Corp Com	0.6%	—	207,907	—	$10.9M
EGOEldorado Gold Corp	0.6%	—	332,575	—	$10.3M
VSTVistra Corp	0.6%	—	63,683	—	$10.1M
NRGNrg Energy Inc	0.6%	0.8%	68,264	-24.2%	$10.0M
TRGPTarga Res Corp	0.5%	1.2%	36,231	-52.7%	$9.7M

What Covalis Capital LLP bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

PPL Ppl Corp+458.3% shares
AM Antero Midstream Corp+207.7% shares
EQT Eqt Corp+199.0% shares
AR Antero Resources Corp+185.2% shares
OI O-I Glass Inc+170.9% shares
BKV Bkv Corp+134.1% shares
GM General Mtrs Co+37.9% shares
Whirlpool Corp+17.1% shares

Reduced

RBA Rb Global Inc-68.7% shares
WMB Williams Cos-57.2% shares
CORZ Core Scientific Inc New-55.0% shares
XEL Xcel Energy Inc-53.6% shares
TRGP Targa Res Corp-52.7% shares
GPI Group 1 Automotive Inc-47.4% shares
MWH Solv Energy Inc-42.6% shares
DTE Dte Energy Company-40.5% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +22.6% /yr; S&P 500 +20.1%
3 years: +12.0% /yr; S&P 500 +20.4%
5 years: +1.3% /yr; S&P 500 +11.2%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$1.8B	100
Q1 2026	$1.6B	122
Q4 2025	$1.3B	73
Q3 2025	$858.3M	54
Q2 2025	$791.1M	56
Q1 2025	$435.8M	49
Q4 2024	$684.2M	61
Q3 2024	$670.3M	48
Q2 2024	$735.0M	59
Q1 2024	$807.0M	50
Q4 2023	$615.1M	54
Q3 2023	$565.5M	51

Questions about Covalis Capital LLP's portfolio

What stocks does Covalis Capital LLP own?

Covalis Capital LLP's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 100 positions worth $1.8B. The largest are Pg&e Corp (PCG) at 8.3%, Black Hills (BKH) at 6.2%, Antero Resources Corp (AR) at 5.2%, Ameren Corp (AEE) at 4.0% and Antero Midstream Corp (AM) at 3.9%.

What did Covalis Capital LLP buy last quarter?

In Q2 2026, Covalis Capital LLP added Ppl Corp (PPL) (+458.3% shares), Antero Midstream Corp (AM) (+207.7% shares) and Eqt Corp (EQT) (+199.0% shares), compared with its Q1 2026 filing.

What did Covalis Capital LLP sell last quarter?

In Q2 2026, Covalis Capital LLP cut from its top 50 United Rentals Inc (URI), cut from its top 50 Eaton Corp PLC (ETN), cut from its top 50 Whirlpool Corp Com (WHR), cut from its top 50 Diamondback Energy Inc (FANG), cut from its top 50 Oge Energy Corp (OGE), Rb Global Inc (RBA) (-68.7% shares), Williams Cos (WMB) (-57.2% shares) and Core Scientific Inc New (CORZ) (-55.0% shares), compared with its Q1 2026 filing.

How has Covalis Capital LLP's portfolio performed?

A portfolio copying Covalis Capital LLP's 20 largest 13F holdings each quarter, from the day each filing was public, returned +12.0% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +22.6% against +20.1%. Over 5 years: +1.3% a year against +11.2%.

When is Covalis Capital LLP's next 13F filing due?

13F filings are due 45 days after each quarter ends. Covalis Capital LLP's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Covalis Capital LLP manage?

Covalis Capital LLP reported $4.8B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $1.8B.