Covenant Asset Management, LLC
Long book
$487.8M
Q1 2026
Positions
141
Top-10 weight
38%
concentration
Last quarter
+16.1%
SPY +14.8%
Turnover
15%
of book per quarter
Strategy in plain words
auto-generated from filingsCovenant Asset Management, LLC is a diversified fundamental manager, running a $487.8M US long book across 141 positions.
The portfolio is moderately concentrated (top 10 ≈ 38% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: NVIDIA CORP, MICROSOFT CORP, APPLE INC, BROADCOM INC, AMAZON.COM INC.
Over the last 9 quarters its long book ran on average 0.1pp per quarter ahead of the S&P 500, beating the index in 4 of 9 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
+7.2%
Q2 2024
+2.2%
Q3 2024
+3.4%
Q4 2024
-9.2%
Q1 2025
+20.7%
Q2 2025
+7.9%
Q3 2025
-1.2%
Q4 2025
-6.4%
Q1 2026
+16.1%
Sector allocation
Technology 41%
Industrials 21%
Financials 12%
Healthcare 9%
Consumer discretionary 7%
Services media 4%
Other 3%
Utilities 2%
Long book by quarter
What does Covenant Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 246.6K | $43.0M | 8.8% | -3.4% |
| MSFT MICROSOFT CORP | Technology | 66.8K | $24.7M | 5.1% | -2.2% |
| AAPL APPLE INC | Technology | 83.2K | $21.1M | 4.3% | +3.5% |
| AVGO BROADCOM INC | Technology | 55.5K | $17.2M | 3.5% | -22.8% |
| AMZN AMAZON.COM INC | Consumer discretionary | 77.9K | $16.2M | 3.3% | -3.5% |
| GEV GE VERNOVA INC | Industrials | 16.9K | $14.7M | 3.0% | +1.1% |
| PWR QUANTA SERVICES INC | Industrials | 25.4K | $13.9M | 2.9% | +0.9% |
| GOOGL ALPHABET INC-CL A | Technology | 44.0K | $12.7M | 2.6% | +16.5% |
| META META PLATFORMS INC-CLASS A | Technology | 20.0K | $11.4M | 2.3% | +1.0% |
| HWM HOWMET AEROSPACE INC | Industrials | 48.6K | $11.2M | 2.3% | +2.2% |
| SHOP SHOPIFY INC - CLASS A | Technology | 93.5K | $11.1M | 2.3% | -3.1% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 8.4K | $11.0M | 2.3% | +0.9% |
| KLAC KLA CORP | Other | 7.5K | $11.0M | 2.3% | +0.9% |
| NFLX NETFLIX INC | Services media | 103.3K | $9.9M | 2.0% | -6.0% |
| AZN ASTRAZENECA PLC | Healthcare | 43.9K | $8.6M | 1.8% | New |
| LLY ELI LILLY & CO | Healthcare | 9.0K | $8.2M | 1.7% | +1.5% |
| JPM JPMORGAN CHASE & CO | Financials | 25.9K | $7.6M | 1.6% | -0.8% |
| TSLA TESLA INC | Industrials | 18.0K | $6.7M | 1.4% | -1.6% |
| MRK MERCK & CO. INC. | Healthcare | 55.3K | $6.7M | 1.4% | Held |
| GE GENERAL ELECTRIC | Industrials | 22.3K | $6.3M | 1.3% | +5.3% |
| HOOD ROBINHOOD MARKETS INC - A | Financials | 89.9K | $6.2M | 1.3% | -0.2% |
| ANET ARISTA NETWORKS INC | Technology | 49.3K | $6.1M | 1.2% | -41.0% |
| ADI ANALOG DEVICES INC | Technology | 18.7K | $5.9M | 1.2% | +102.5% |
| AXP AMERICAN EXPRESS CO | Financials | 18.8K | $5.7M | 1.2% | +20.7% |
| GS GOLDMAN SACHS GROUP INC | Financials | 6.6K | $5.6M | 1.1% | +2.3% |
| VRTX VERTEX PHARMACEUTICALS INC | Healthcare | 12.1K | $5.4M | 1.1% | +1.6% |
| RBC RBC BEARINGS INC | Industrials | 9.4K | $5.1M | 1.1% | New |
| ODFL OLD DOMINION FREIGHT LINE | Industrials | 26.0K | $5.1M | 1.0% | New |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 33.2K | $4.9M | 1.0% | +168.0% |
| CBOE CBOE GLOBAL MARKETS INC | Financials | 17.2K | $4.8M | 1.0% | New |
| SPOT SPOTIFY TECHNOLOGY SA | Communications | 9.9K | $4.8M | 1.0% | +1.5% |
| AGX ARGAN INC | Industrials | 8.7K | $4.7M | 1.0% | -0.6% |
| ABBV ABBVIE INC | Healthcare | 21.3K | $4.6M | 0.9% | -0.9% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 25.2K | $4.6M | 0.9% | +2.1% |
| SF STIFEL FINANCIAL CORP | Financials | 60.1K | $4.4M | 0.9% | +85.6% |
| FTAI FTAI AVIATION LTD | Services media | 17.8K | $4.4M | 0.9% | New |
| GOOG ALPHABET INC-CL C | Technology | 15.2K | $4.4M | 0.9% | Held |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 4.2K | $4.2M | 0.9% | -2.3% |
| ORCL ORACLE CORP | Technology | 25.6K | $3.8M | 0.8% | +17.5% |
| BE BLOOM ENERGY CORP- A | Industrials | 25.9K | $3.5M | 0.7% | New |
| ADP AUTOMATIC DATA PROCESSING | Technology | 17.2K | $3.5M | 0.7% | -1.4% |
| JNJ JOHNSON & JOHNSON | Healthcare | 13.5K | $3.3M | 0.7% | -0.7% |
| CAH CARDINAL HEALTH INC | Consumer discretionary | 14.9K | $3.1M | 0.6% | New |
| MS MORGAN STANLEY | Financials | 16.5K | $2.7M | 0.6% | -6.2% |
| WM WASTE MANAGEMENT INC | Utilities | 11.6K | $2.7M | 0.5% | -3.7% |
| BLK BLACKROCK INC | Financials | 2.7K | $2.6M | 0.5% | -0.1% |
| QCOM QUALCOMM INC | Technology | 16.6K | $2.1M | 0.4% | -12.9% |
| HD HOME DEPOT INC | Consumer discretionary | 6.3K | $2.1M | 0.4% | -1.5% |
| V VISA INC-CLASS A SHARES | Services media | 6.7K | $2.0M | 0.4% | Held |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 53.2K | $2.0M | 0.4% | 0.0% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 14, 2026 | 165 | $664.2M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 30, 2026 | 164 | $844.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 30, 2025 | 162 | $884.7M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 17, 2025 | 155 | $676.6M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 5, 2025 | 155 | $454.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 30, 2025 | 165 | $651.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 164 | $636.0M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 2, 2024 | 163 | $628.7M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 23, 2024 | 144 | $609.7M | canonical | SEC ↗ |
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