Covenant Asset Management, LLC

CIK 1697717 · View on SEC EDGAR ↗

Portfolio value QoQ: -10.5% 13F does not disclose cash

Top 10 holdings weight37.67%

Top 25 holdings weight60.74%

Positions above 1%33

Effective number of positions44.7

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 8.44% Est. buys $53,134,971 · sells $63,530,898

Median holding: 6.0 quarters Tracked Q1 2025–Q2 2026 · 71.6% still held

New positions20

Increased28

Decreased82

Closed9

Put-notional exposure: 3.1% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets

Portfolio value $594.6M #3,467 of 9,337 by 13F value · top 37.1%

Positions 164

As of June 30, 2026 Data as of Q2 2026

Performance vs S&P 500

Tracked Q1 2025–Q2 2026 +35.1%

S&P 500 total return (same window) +37.0%

Excess return -1.9%

Annualized: +27.3% · S&P 500: +28.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 97.6% · Options excluded: 31.3%

Sector breakdown

Technology 35.5%

Industrials 19.8%

Financials 10.8%

Communication Services 9.7%

Healthcare 7.9%

Retail 5.1%

Consumer Discretionary 1.4%

Energy 0.8%

Materials 0.2%

Utilities 0.2%

Real Estate 0.1%

Consumer Staples 0.1%

Other/Unmapped 8.3%

Full portfolio 164 positions

Search positions by ticker or company name

				Type		Streak
NVDA NVIDIA Corporation - Common Stock	$47,189,281	7.94%	235,840		$4,183,046	Down ×4
MSFT Microsoft Corporation - Common Stock	$24,566,166	4.13%	65,858		$-148,050	Down ×2
AAPL Apple Inc. - Common Stock	$23,273,327	3.91%	80,430		$2,162,766	Down ×1
KLAC KLA Corporation - Common Stock	$21,888,759	3.68%	72,549		$10,908,997	Up ×2
AVGO Broadcom Inc. - Common Stock	$20,263,331	3.41%	53,642		$3,089,549	Down ×4
GEV GE Vernova Inc. Common Stock	$19,033,907	3.20%	16,201		$4,307,211	Down ×1
AMZN Amazon.com, Inc. - Common Stock	$18,286,875	3.08%	76,726		$2,072,638	Down ×2
PWR Quanta Services, Inc. Common Stock	$17,638,820	2.97%	24,497		$3,703,045	Down ×1
ASML ASML Holding N.V. - New York Registry Shares	$16,422,828	2.76%	8,255		$5,380,689	Down ×1
GOOGL Alphabet Inc. - Class A Common Stock	$15,392,641	2.59%	43,072		$2,738,850	Down ×1
HWM Howmet Aerospace Inc. Common Stock	$12,768,968	2.15%	47,493		$1,575,064	Down ×1
META Meta Platforms, Inc. - Class A Common Stock	$11,127,043	1.87%	19,754		$-287,904	Down ×1
LLY Eli Lilly and Company Common Stock	$10,742,833	1.81%	8,957		$2,498,368	Down ×1
SHOP Shopify Inc. - Class A Subordinate Voting Shares	$10,353,272	1.74%	90,675		$-736,394	Down ×4
TSM Taiwan Semiconductor Manufacturing Company Ltd.	$10,036,134	1.69%	21,015		$2,831,377	Down ×1
SPY SPY	$9,476,512	1.59%	12,690		$1,363,520	Up ×1
HOOD Robinhood Markets, Inc. - Class A Common Stock	$8,880,998	1.49%	88,562		$2,650,720	Down ×2
MS Morgan Stanley Common Stock	$8,276,384	1.39%	39,592		$5,564,176	Up ×1
JPM JP Morgan Chase & Co. Common Stock	$8,229,235	1.38%	25,140		$608,875	Down ×3
GE GE Aerospace Common Stock	$8,148,809	1.37%	21,804		$1,825,562	Down ×1
ANET Arista Networks, Inc. Common Stock	$8,008,823	1.35%	47,144		$1,958,470	Down ×2
AZN AstraZeneca PLC - American Depositary Shares	$7,940,148	1.34%	41,874		$-708,936	Down ×1
SOFI SoFi Technologies, Inc. - Common Stock	$7,764,623	1.31%	433,052
BE Bloom Energy Corporation Class A Common Stock	$7,739,131	1.30%	25,567		$4,233,462	Down ×1
TSLA Tesla, Inc. - Common Stock	$7,707,495	1.30%	18,325		$1,015,623	Up ×1
ADI Analog Devices, Inc. - Common Stock	$7,240,012	1.22%	18,229		$1,302,883	Down ×1
NFLX Netflix, Inc. - Common Stock	$7,186,053	1.21%	100,645		$-2,748,550	Down ×2
AGX Argan, Inc. Common Stock	$6,987,313	1.18%	8,750		$2,239,054	Up ×1
MRK Merck & Company, Inc. Common Stock (new)	$6,928,720	1.17%	53,920		$274,277	Down ×1
GS Goldman Sachs Group, Inc. (The) Common Stock	$6,585,031	1.11%	6,511		$1,012,494	Down ×1
QQQ Invesco QQQ Trust, Series 1	$6,420,290	1.08%	8,718		$1,071,862	Down ×1
AXP American Express Company Common Stock	$6,257,625	1.05%	18,500		$580,075	Down ×1
RBC RBC Bearings Incorporated Common Stock	$6,207,451	1.04%	9,638		$1,083,656	Up ×1
VRTX Vertex Pharmaceuticals Incorporated - Common Stock	$5,852,473	0.98%	11,782		$457,823	Down ×1
ODFL Old Dominion Freight Line, Inc. - Common Stock	$5,611,457	0.94%	25,907		$529,493	Down ×1
GOOG Alphabet Inc. - Class C Capital Stock	$5,360,017	0.90%	15,170		$1,008,350
ABBV AbbVie Inc. Common Stock	$5,019,464	0.84%	19,947		$396,061	Down ×6
COF Capital One Financial Corporation Common Stock	$4,972,969	0.84%	24,788		$374,638	Down ×1
FTAI FTAI Aviation Ltd. - Common Stock	$4,915,801	0.83%	18,171		$548,431	Up ×1
GOOG Alphabet Inc. - Class C Capital Stock	$4,593,290	0.77%	13,000	Put option	$864,110
VUG Vanguard Morningstar Growth ETF	$3,978,402	0.67%	46,185		$729,557	Up ×1
COST Costco Wholesale Corporation - Common Stock	$3,897,410	0.66%	4,166		$-253,969
ADP Automatic Data Processing, Inc. - Common Stock	$3,669,281	0.62%	16,384		$176,134	Down ×4
GOOGL Alphabet Inc. - Class A Common Stock	$3,573,700	0.60%	10,000	Put option	$698,100
BE Bloom Energy Corporation Class A Common Stock	$3,420,510	0.58%	11,300	Put option	$575,220	Down ×1
PANW Palo Alto Networks, Inc. - Common Stock	$3,405,767	0.57%	9,987		$1,803,047	Down ×4
CAH Cardinal Health, Inc. Common Stock	$3,397,584	0.57%	14,302		$247,585	Down ×1
JNJ Johnson & Johnson Common Stock	$3,225,479	0.54%	12,700		$-67,507	Down ×6
ORCL Oracle Corporation Common Stock	$3,056,698	0.51%	20,858		$-712,307	Down ×1
GEV GE Vernova Inc. Common Stock	$2,937,150	0.49%	2,500	Put option	$-4,307,920	Down ×1
APH Amphenol Corporation Common Stock	$2,932,378	0.49%	16,631			Up ×1
CAT Caterpillar, Inc. Common Stock	$2,739,988	0.46%	2,573		$828,562	Down ×6
BE Bloom Energy Corporation Class A Common Stock	$2,724,300	0.46%	9,000	Call option		Up ×1
QCOM QUALCOMM Incorporated - Common Stock	$2,697,565	0.45%	14,598		$562,006	Down ×6
BLK BlackRock, Inc. Common Stock	$2,565,526	0.43%	2,668		$-40,709	Down ×2
WM Waste Management, Inc. Common Stock	$2,523,028	0.42%	11,320		$-143,023	Down ×6
AVGO Broadcom Inc. - Common Stock	$2,455,375	0.41%	6,500	Call option	$443,560
AVGO Broadcom Inc. - Common Stock	$2,455,375	0.41%	6,500	Put option
BIV VANGUARD BOND INDEX FUNDS	$2,346,253	0.39%	30,590		$-161,171	Down ×1
V Visa Inc.	$2,305,222	0.39%	6,719		$274,471
VTV Vanguard Morningstar Value ETF	$2,299,925	0.39%	10,554		$254,049	Up ×1
TXN Texas Instruments Incorporated - Common Stock	$2,229,564	0.37%	7,480		$774,290	Down ×1
VTI Vanguard Morningstar Total Stock Market ETF	$2,209,509	0.37%	5,971		$333,412	Up ×4
HD Home Depot, Inc. (The) Common Stock	$2,176,741	0.37%	6,172		$120,191	Down ×3
AMZN Amazon.com, Inc. - Common Stock	$2,145,060	0.36%	9,000	Call option	$20,706	Down ×1
RH RH Common Stock	$2,111,674	0.36%	12,819		$191,945	Down ×1
AMLP ALPS ETF Trust	$2,088,467	0.35%	40,279		$-231,326	Down ×1
ETN Eaton Corporation, PLC Ordinary Shares	$1,952,056	0.33%	4,581		$247,758	Down ×2
EPD Enterprise Products Partners L.P. Common Stock	$1,836,861	0.31%	49,969		$-175,433	Down ×6
GOOGL Alphabet Inc. - Class A Common Stock	$1,786,850	0.30%	5,000	Call option	$-801,190	Down ×1
PLTR Palantir Technologies Inc. - Class A Common Stock	$1,778,751	0.30%	15,246		$-3,072,187	Down ×1
BX Blackstone Inc. Common Stock	$1,639,556	0.28%	13,934		$-52,754	Down ×3
SEDG SolarEdge Technologies, Inc. - Common Stock	$1,636,320	0.28%	28,000		$206,920
RSP Invesco Exchange-Traded Fund Trust	$1,624,287	0.27%	7,634		$195,826	Up ×6
VNQ Vanguard Real Estate ETF	$1,593,603	0.27%	16,526		$-56,217	Down ×2
RTX RTX Corporation Common Stock	$1,574,570	0.26%	8,299		$-127,387	Down ×1
CFG Citizens Financial Group, Inc. Common Stock	$1,560,529	0.26%	22,271		$164,607	Down ×3
CBOE Cboe Global Markets, Inc. Common Stock	$1,450,924	0.24%	5,979		$-3,371,957	Down ×1
PTY Pimco Corporate & Income Opportunity Fund	$1,422,873	0.24%	118,277		$-97,664	Down ×1
HYT Blackrock Corporate High Yield Fund, Inc. Common Stock	$1,389,374	0.23%	162,310		$-196,580	Down ×1
BAC Bank of America Corporation Common Stock	$1,348,831	0.23%	23,672		$194,821
FAST Fastenal Company - Common Stock	$1,322,939	0.22%	27,544		$48,841	Up ×1
NVDA NVIDIA Corporation - Common Stock	$1,300,585	0.22%	6,500	Call option	$-792,215	Down ×1
TMO Thermo Fisher Scientific Inc Common Stock	$1,264,430	0.21%	2,522		$-12,074	Down ×2
AMGN Amgen Inc. - Common Stock	$1,202,239	0.20%	3,320		$8,060	Down ×6
MU Micron Technology, Inc. - Common Stock	$1,154,290	0.19%	1,000	Call option		Up ×1
AFL AFLAC Incorporated Common Stock	$1,149,637	0.19%	9,805		$55,279	Down ×1
VO Vanguard Morningstar Mid-Cap ETF	$1,134,265	0.19%	14,078		$123,965	Up ×1
APD Air Products and Chemicals, Inc. Common Stock	$1,133,728	0.19%	3,867		$10,403
AMD Advanced Micro Devices, Inc. - Common Stock	$1,056,976	0.18%	1,820		$685,919	Down ×1
LHX L3Harris Technologies, Inc. Common Stock	$1,003,733	0.17%	3,454		$-277,809	Down ×3
CVX Chevron Corporation Common Stock	$1,000,196	0.17%	6,034		$-466,519	Down ×6
ARM Arm Holdings plc - American Depositary Shares	$997,760	0.17%	2,814		$574,176	Up ×1
PWB Invesco Exchange-Traded Fund Trust	$983,470	0.17%	5,838		$249,927	Up ×1
CRM Salesforce, Inc. Common Stock	$949,673	0.16%	6,062			Up ×1
DGS WisdomTree Trust	$831,330	0.14%	12,847		$75,572	Up ×1
SBUX Starbucks Corporation - Common Stock	$822,221	0.14%	8,046		$73,248	Down ×1
ISRG Intuitive Surgical, Inc. - Common Stock	$785,418	0.13%	1,975		$-125,038
MSFT Microsoft Corporation - Common Stock	$746,040	0.13%	2,000	Call option	$5,700
HOOD Robinhood Markets, Inc. - Class A Common Stock	$701,960	0.12%	7,000	Call option
No matches

Conviction holdings

Positions increased for 3+ consecutive quarters.

Share counts are as reported in 13F filings (not split-adjusted)

Security	Value	% of portfolio	Streak
VTI	$2,209,509	0.37%	up ×4
RSP	$1,624,287	0.27%	up ×6
VOO	$670,490	0.11%	up ×5
VB	$647,768	0.11%	up ×6
HFXI	$487,933	0.08%	up ×3

Biggest new bets

New positions opened this quarter, largest first.

Security	Value	Shares	% of portfolio
SOFI	$7,764,623	433,052	1.31%
APH	$2,932,378	16,631	0.49%
BE	$2,724,300	9,000	0.46%
AVGO	$2,455,375	6,500	0.41%
MU	$1,154,290	1,000	0.19%
CRM	$949,673	6,062	0.16%
HOOD	$701,960	7,000	0.12%
HOOD	$701,960	7,000	0.12%
MU	$577,145	500	0.10%
Unknown issuer (CUSIP: 438516205)	$406,043	1,814	0.07%
Unknown issuer (CUSIP: 43849R105)	$398,166	1,801	0.07%
INTC	$390,825	2,799	0.07%
ONEQ	$378,818	3,670	0.06%
XLK	$255,678	1,342	0.04%
NOW	$248,200	2,500	0.04%

Top movers (QoQ)

Security	Action	Shares Δ	Value Δ
KLAC	Bought more	+65K	+$10.9M
MS	Bought more	+23K	+$5.6M
ASML	Trimmed	-105	+$5.4M
GEV	Trimmed	-6K	-$4.3M
GEV	Trimmed	-670	+$4.3M
BE	Trimmed	-307	+$4.2M
NVDA	Trimmed	-11K	+$4.2M
PWR	Trimmed	-886	+$3.7M
CBOE	Trimmed	-11K	-$3.4M
AVGO	Trimmed	-2K	+$3.1M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

Security	Quarter	Shares before	Value before	Price since exit
MELI	Dec. 31, 2025	13,491	$31,527,658	-7.8%
BKNG	June 30, 2026	3,300	$13,894,056	-11.6%
MELI	June 30, 2026	3,500	$6,051,570	9.5%
LNG	Dec. 31, 2025	24,650	$5,792,257	41.6%
TSM	June 30, 2025	31,848	$5,286,768	112.9%
SE	Dec. 31, 2025	29,403	$5,255,199	-24.3%
SPOT	June 30, 2026	9,931	$4,815,642	6.3%
SOFI	March 31, 2026	179,902	$4,709,835	-0.8%
UBER	March 31, 2026	56,317	$4,601,663	-4.0%
SF	June 30, 2026	60,077	$4,440,855	0.5%
W	March 31, 2026	43,850	$4,402,979	40.2%
TTD	March 31, 2026	115,125	$4,370,145	-47.5%
SYK	Sept. 30, 2025	10,772	$4,261,727	-24.7%
HQY	Sept. 30, 2025	37,157	$3,892,568	-3.9%
KKR	Dec. 31, 2025	29,826	$3,875,889	-28.9%
BSX	March 31, 2026	39,941	$3,808,375	-32.8%
EL	March 31, 2026	34,703	$3,634,099	30.1%
IBKR	March 31, 2026	47,079	$3,027,651	35.1%
JEF	June 30, 2025	54,374	$2,912,816	-17.8%
DECK	June 30, 2025	20,631	$2,306,753	-20.8%
DASH	Dec. 31, 2025	8,395	$2,283,357	-14.5%
REGN	June 30, 2025	3,587	$2,274,984	40.7%
CRDO	March 31, 2026	15,247	$2,193,891	135.3%
HON	June 30, 2026	3,602	$814,161	-4.9%
ADBE	March 31, 2026	1,971	$689,831	-2.0%
VRT	June 30, 2025	7,086	$511,610	97.1%
TSCO	June 30, 2026	9,810	$444,393	2.2%
CRCL	Sept. 30, 2025	2,000	$362,580	-36.5%
UNH	June 30, 2025	619	$324,202	20.6%
CMG	Sept. 30, 2025	5,500	$308,825	-21.2%
OKLO	Dec. 31, 2025	2,570	$286,890	-46.3%
FBTC	Dec. 31, 2025	2,628	$262,301
XYZ	Dec. 31, 2025	3,515	$254,030	17.6%
PG	June 30, 2026	1,736	$250,748	1.2%
INTU	March 31, 2026	371	$245,758	-33.0%
BMY	Sept. 30, 2025	4,985	$230,734	32.1%
TDG	June 30, 2026	192	$222,521	-17.2%
SO	Dec. 31, 2025	2,200	$208,494	-2.0%
XBI	June 30, 2025	2,559	$207,535	82.0%
AEM	Dec. 31, 2025	1,205	$203,115	9.7%
BYM	Dec. 31, 2025	11,875	$130,032	No longer tracked
SOUN	June 30, 2026	10,100	$69,387	-11.6%