Covalis Capital’s Returns, AUM and Holdings

As of September 30, the largest position held by Covalis Capital is Avangrid Inc. (NYSE:AGR), an energy services and delivery company, which accounts for 10.39% of its 13F portfolio value, consisting of 453,998 shares valued at $21.7 million. The fund hiked its stake in Avangrid by 250% during Q3, with it becoming Covalis’ favorite equity as a result. Second was American Electric Power Co Inc (NYSE:AEP), which was also the fund’s top new holding. The fund opened a stake in the investor-owned electric utility worth $17.1 million, buying 242,508 shares.

As for the other new additions to the fund’s portfolio, there was Nisource Inc (NYSE:NI), a regulated natural gas and electric utility company, in which the fund acquired 586,648 shares valued at $14.6 million, as well as Cms Energy Corp (NYSE:CMS), in which the fund purchased 202,215 shares worth $9.90 million.

The fund boosted its stake in Scana Corp (NYSE:SCG) by an amazing 3,899% to 254,514 shares worth $9.89 million. It also raised its stake in FirstEnergy Corp (NYSE:FE) by 75%, to 272,825 shares valued at $10.14 million. On the other hand, Edison International (NYSE:EIX) and Commercial Metals Co (NYSE:CMC) were companies in which the fund lowered its stakes, by 59% to 78,018 shares and by 35% to 115,386 shares, respectively.

The biggest positions Covalis decided to completely sell during the third-quarter were in Portland General Electric Co (NYSE:POR), 5,548 shares of which the fund previously owned, and Hudbay Minerals Inc (NYSE:HBM), whose 58,986 shares the fund said goodbye to.

Disclosure: None. This article was originally published at Insider Monkey.