Covalis (Gibraltar) Ltd
Long book
$22.5M
Q1 2026
Positions
2
Top-10 weight
100%
concentration
Last quarter
+42.7%
SPY +14.8%
Turnover
75%
of book per quarter
Strategy in plain words
auto-generated from filingsCovalis (Gibraltar) Ltd is a diversified fundamental manager, specialised in financials (85% of the long book), running a $22.5M US long book across 2 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: CORE SCIENTIFIC INC, APPLIED DIGITAL CORP.
Over the last 6 quarters its long book ran on average 14.7pp per quarter ahead of the S&P 500, beating the index in 5 of 6 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.9%
Q2 2024
+22.7%
Q2 2025
+21.2%
Q3 2025
+21.3%
Q4 2025
+9.1%
Q1 2026
+42.7%
Sector allocation
Financials 85%
Technology 15%
Long book by quarter
What does Covalis (Gibraltar) own?
Q1 2026 13F13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 2 | $22.5M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 5 | $125.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 4 | $30.9M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 3 | $35.3M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 0 | $0 | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 0 | $0 | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 0 | $0 | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 1 | $35.0M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 2 | $10.1M | canonical | SEC ↗ |