Q4 2025 · 13F-HR
Covalis Capital LLPholdings as filed
Filed 2026-02-17 · accession 0001172661-26-000950
$1.42B
Reported value
76
Positions
2025-12-31
Period end
The Brief · Covalis Capital LLP · Q4 2025
AI · grounded in 13F
Covalis Capital LLP initiated a new position in CORZ worth $154.9M, its largest move of the quarter. The fund also established new stakes in BKH for $142.8M and GLXY for $58.8M, while increasing its holding in ES by 518.5%. On the sell side, the fund closed positions in EIX and XEL, reducing its exposure by $30M and $29.8M respectively.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 69331C108 | PCG | PG&E CORP | $159.0M | 11.2% | 9,896,033 | Common | SOLE |
| 092113109 | BKH | BLACK HILLS CORP | $142.8M | 10.0% | 2,057,160 | Common | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $77.8M | 5.46% | 5,341,913 | Common | SOLE |
| 21874A106 | CORZ | CORE SCIENTIFIC INC NEW | $77.2M | 5.42% | 5,299,600 | CALL | SOLE |
| 30040W108 | ES | EVERSOURCE ENERGY | $76.8M | 5.39% | 1,141,017 | Common | SOLE |
| 36317J209 | GLXY | GALAXY DIGITAL INC. | $58.8M | 4.13% | 2,630,100 | PUT | SOLE |
| 235825205 | DAN | DANA INC | $41.9M | 2.94% | 1,764,365 | Common | SOLE |
| 371901109 | GNTX | GENTEX CORP | $40.4M | 2.83% | 1,734,804 | Common | SOLE |
| 969457100 | WMB | WILLIAMS COS INC | $39.1M | 2.74% | 649,774 | Common | SOLE |
| 149123101 | CAT | CATERPILLAR INC | $31.6M | 2.22% | 55,074 | Common | SOLE |
| G61188101 | LBTYA | LIBERTY GLOBAL LTD | $31.3M | 2.20% | 2,809,392 | Common | SOLE |
| 74935Q107 | RBA | RB GLOBAL INC | $30.1M | 2.11% | 292,742 | Common | SOLE |
| 88080T104 | WULF | TERAWULF INC | $27.9M | 1.96% | 2,427,296 | Common | SOLE |
| G29183103 | ETN | EATON CORP PLC | $27.2M | 1.91% | 85,526 | Common | SOLE |
| 670837103 | OGE | OGE ENERGY CORP | $27.2M | 1.91% | 637,124 | Common | SOLE |
| 231021106 | CMI | CUMMINS INC | $25.4M | 1.79% | 49,802 | Common | SOLE |
| 911363109 | URI | UNITED RENTALS INC | $24.8M | 1.74% | 30,698 | Common | SOLE |
| 92839U206 | VC | VISTEON CORP | $24.6M | 1.73% | 258,628 | Common | SOLE |
| N20944109 | CNH | CNH INDL N V | $24.4M | 1.71% | 2,644,387 | Common | SOLE |
| 398905109 | GPI | GROUP 1 AUTOMOTIVE INC | $20.5M | 1.44% | 52,107 | Common | SOLE |
| G93A5A101 | VIK | VIKING HOLDINGS LTD | $17.9M | 1.25% | 250,000 | Common | SOLE |
| 934550203 | WMG | WARNER MUSIC GROUP CORP | $17.8M | 1.25% | 580,769 | Common | SOLE |
| 13057Q305 | CRC | CALIFORNIA RES CORP | $17.1M | 1.20% | 382,350 | Common | SOLE |
| G87052109 | TEL | TE CONNECTIVITY PLC | $16.4M | 1.15% | 72,088 | Common | SOLE |
| 87807B107 | TRP | TC ENERGY CORP | $15.2M | 1.07% | 276,247 | Common | SOLE |
| 36168Q104 | GFL | GFL ENVIRONMENTAL INC | $15.0M | 1.06% | 350,000 | Common | SOLE |
| 03674X106 | AR | ANTERO RESOURCES CORP | $14.9M | 1.05% | 433,075 | Common | SOLE |
| N82405106 | STLA | STELLANTIS N.V | $14.8M | 1.04% | 1,361,890 | Common | SOLE |
| 398182303 | AHR | AMERICAN HEALTHCARE REIT INC | $14.1M | 0.99% | 300,000 | Common | SOLE |
| 032095101 | APH | AMPHENOL CORP NEW | $13.7M | 0.96% | 101,290 | Common | SOLE |
| 681919106 | OMC | OMNICOM GROUP INC | $13.5M | 0.95% | 167,176 | Common | SOLE |
| 903731107 | ULS | UL SOLUTIONS INC | $13.4M | 0.94% | 169,581 | Common | SOLE |
| G3265R107 | APTV | APTIV PLC | $12.2M | 0.86% | 160,669 | Common | SOLE |
| 043436104 | ABG | ASBURY AUTOMOTIVE GROUP INC | $11.8M | 0.83% | 50,706 | Common | SOLE |
| 45073V108 | ITT | ITT INC | $10.4M | 0.73% | 60,000 | Common | SOLE |
| 001084102 | AGCO | AGCO CORP | $10.0M | 0.70% | 95,693 | Common | SOLE |
| 23345M107 | DTM | DT MIDSTREAM INC | $9.9M | 0.70% | 82,845 | Common | SOLE |
| 552690109 | MDU | MDU RES GROUP INC | $9.8M | 0.69% | 500,000 | Common | SOLE |
| 69349H107 | TXNM | TXNM ENERGY INC | $9.4M | 0.66% | 160,154 | Common | SOLE |
| 872590104 | TMUS | T-MOBILE US INC | $9.2M | 0.65% | 45,245 | Common | SOLE |
| 165167735 | EXE | EXPAND ENERGY CORPORATION | $8.6M | 0.60% | 77,837 | Common | SOLE |
| 03945R102 | ACHR | ARCHER AVIATION INC | $8.5M | 0.59% | 1,125,000 | Common | SOLE |
| 902681105 | UGI | UGI CORP NEW | $8.3M | 0.59% | 222,801 | Common | SOLE |
| 52476L109 | LGN | LEGENCE CORP | $7.9M | 0.56% | 184,400 | Common | SOLE |
| 636180101 | NFG | NATIONAL FUEL GAS CO | $7.8M | 0.55% | 97,545 | Common | SOLE |
| 878742204 | TECK | TECK RESOURCES LTD | $7.7M | 0.54% | 160,321 | Common | SOLE |
| 50012A108 | KGS | KODIAK GAS SVCS INC | $7.5M | 0.53% | 200,000 | Common | SOLE |
| 76954A103 | RIVN | RIVIAN AUTOMOTIVE INC | $7.4M | 0.52% | 375,000 | PUT | SOLE |
| 237266101 | DAR | DARLING INGREDIENTS INC | $6.4M | 0.45% | 176,716 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $6.1M | 0.43% | 40,233 | Common | SOLE |
| 607828100 | MOD | MODINE MFG CO | $6.1M | 0.43% | 45,404 | Common | SOLE |
| 816851109 | SRE | SEMPRA | $6.0M | 0.42% | 68,308 | Common | SOLE |
| 336433107 | FSLR | FIRST SOLAR INC | $5.9M | 0.42% | 22,632 | Common | SOLE |
| 83545G102 | SAH | SONIC AUTOMOTIVE INC | $5.8M | 0.40% | 93,018 | Common | SOLE |
| 233331107 | DTE | DTE ENERGY CO | $4.9M | 0.35% | 38,298 | Common | SOLE |
| 05329W102 | AN | AUTONATION INC | $4.3M | 0.30% | 20,790 | Common | SOLE |
| 05722G100 | BKR | BAKER HUGHES COMPANY | $4.2M | 0.29% | 91,566 | Common | SOLE |
| 682680103 | OKE | ONEOK INC NEW | $3.9M | 0.28% | 53,542 | Common | SOLE |
| G8267P108 | SW | SMURFIT WESTROCK PLC | $3.3M | 0.23% | 85,142 | Common | SOLE |
| 60741F104 | MBLY | MOBILEYE GLOBAL INC | $3.3M | 0.23% | 313,190 | Common | SOLE |
| 443628102 | HBM | HUDBAY MINERALS INC | $2.6M | 0.18% | 130,166 | Common | SOLE |
| 013872106 | AA | ALCOA CORP | $2.5M | 0.18% | 47,148 | Common | SOLE |
| 368736104 | GNRC | GENERAC HLDGS INC | $2.5M | 0.17% | 18,041 | Common | SOLE |
| 775711104 | ROL | ROLLINS INC | $2.1M | 0.15% | 35,000 | Common | SOLE |
| 05603J108 | BKV | BKV CORP | $2.0M | 0.14% | 75,000 | Common | SOLE |
| 343412102 | FLR | FLUOR CORP NEW | $2.0M | 0.14% | 49,970 | Common | SOLE |
| 59356Q108 | MIAX | MIAMI INTL HLDGS INC | $1.8M | 0.12% | 40,000 | Common | SOLE |
| 125896100 | CMS | CMS ENERGY CORP | $1.6M | 0.11% | 22,669 | Common | SOLE |
| 04271T100 | ARRY | ARRAY TECHNOLOGIES INC | $1.5M | 0.11% | 165,764 | Common | SOLE |
| 22822V101 | CCI | CROWN CASTLE INC | $1.5M | 0.11% | 16,842 | Common | SOLE |
| 87612G101 | TRGP | TARGA RES CORP | $1.4M | 0.10% | 7,354 | Common | SOLE |
| 92242T101 | VVX | V2X INC | $1.3M | 0.09% | 23,684 | Common | SOLE |
| 947002101 | WLTH | WEALTHFRONT CORP | $1.2M | 0.08% | 85,593 | Common | SOLE |
| 155923105 | CTRI | CENTURI HOLDINGS INC | $505,000 | 0.04% | 20,000 | Common | SOLE |
| 033853102 | ANDG | ANDERSEN GROUP INC | $311,160 | 0.02% | 12,000 | Common | SOLE |
| 97785W106 | WOLF | WOLFSPEED INC | $174,100 | 0.01% | 10,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.