Covenant Asset Management 13F annual report
Covenant Asset Management is an investment fund managing more than $441 billion ran by John Guarino. There are currently 126 companies in Mr. Guarino’s portfolio. The largest investments include NVIDIA Corp and Microsoft, together worth $71.5 billion.
$441 billion Assets Under Management (AUM)
As of 26th July 2024, Covenant Asset Management’s top holding is 315,222 shares of NVIDIA Corp currently worth over $38.9 billion and making up 8.8% of the portfolio value.
Relative to the number of outstanding shares of NVIDIA Corp, Covenant Asset Management owns more than approximately 0.1% of the company.
In addition, the fund holds 72,854 shares of Microsoft worth $32.6 billion, whose value grew 1.4% in the past six months.
The third-largest holding is Apple Inc worth $21.7 billion and the next is Amazon.com worth $16.2 billion, with 83,737 shares owned.
Currently, Covenant Asset Management's portfolio is worth at least $441 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Covenant Asset Management
The Covenant Asset Management office and employees reside in Chester, New Jersey. According to the last 13-F report filed with the SEC, John Guarino serves as the President and CEO at Covenant Asset Management.
Recent trades
In the most recent 13F filing, Covenant Asset Management revealed that it had opened a new position in
Arm Holdings Plc and bought 32,027 shares worth $5.24 billion.
The investment fund also strengthened its position in NVIDIA Corp by buying
282,805 additional shares.
This makes their stake in NVIDIA Corp total 315,222 shares worth $38.9 billion.
NVIDIA Corp dropped 75.3% in the past year.
On the other hand, there are companies that Covenant Asset Management is getting rid of from its portfolio.
Covenant Asset Management closed its position in Idexx Labs Inc on 2nd August 2024.
It sold the previously owned 6,484 shares for $3.5 billion.
John Guarino also disclosed a decreased stake in Microsoft by approximately 0.1%.
This leaves the value of the investment at $32.6 billion and 72,854 shares.
One of the average hedge funds
The two most similar investment funds to Covenant Asset Management are Wooster Corthell Wealth Management, Inc and Ellis Investment Partners. They manage $441 billion and $441 billion respectively.
John Guarino investment strategy
Covenant Asset Management’s portfolio is diversified across 12 sectors.
Currently, their heaviest sector is Technology — making up 43.5% of
the total portfolio value.
The fund focuses on investments in the United States as
54.8% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
53% of the total holdings value.
On the other hand, small-cap stocks make up only 2.4% of the portfolio.
The average market cap of the portfolio companies is close to $183 billion.
The complete list of Covenant Asset Management trades based on 13F SEC filings
These positions were updated on August 2nd based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| NVIDIA Corp |
872.40%
315,222
|
$38,942,564,000 | 8.84% |
| Microsoft Corporation |
0.38%
72,854
|
$32,562,125,000 | 7.39% |
| Apple Inc |
4.46%
102,797
|
$21,651,029,000 | 4.92% |
| Amazon.com Inc. |
7.07%
83,737
|
$16,182,176,000 | 3.67% |
| Trade Desk Inc |
1.41%
136,563
|
$13,338,109,000 | 3.03% |
| Broadcom Inc |
1.43%
7,525
|
$12,081,614,000 | 2.74% |
| Eli Lilly Co |
0.70%
11,906
|
$10,779,106,000 | 2.45% |
| Alphabet Inc |
1.38%
74,764
|
$13,638,812,000 | 3.10% |
| Meta Platforms Inc |
3.76%
20,331
|
$10,251,297,000 | 2.33% |
| Palo Alto Networks Inc |
0.82%
25,727
|
$8,721,541,000 | 1.98% |
| Asml Holding N V |
1.82%
8,023
|
$8,205,363,000 | 1.86% |
| Qualcomm, Inc. |
8.24%
41,166
|
$8,199,444,000 | 1.86% |
| Synopsys, Inc. |
0.72%
12,786
|
$7,608,438,000 | 1.73% |
| Arista Networks Inc |
0.38%
21,491
|
$7,532,166,000 | 1.71% |
| Advanced Micro Devices Inc. |
1.30%
46,164
|
$7,488,263,000 | 1.70% |
| Merck Co Inc |
0.26%
59,779
|
$7,400,641,000 | 1.68% |
| Shopify Inc |
0.86%
104,435
|
$6,897,932,000 | 1.57% |
| Regeneron Pharmaceuticals, Inc. |
0.08%
6,350
|
$6,674,041,000 | 1.52% |
| Quanta Svcs Inc |
0.43%
26,174
|
$6,650,552,000 | 1.51% |
| Jpmorgan Chase Co. |
2.80%
29,578
|
$5,982,521,000 | 1.36% |
| KLA Corp. |
0.99%
7,217
|
$5,950,489,000 | 1.35% |
| Vertex Pharmaceuticals, Inc. |
4.57%
12,646
|
$5,927,434,000 | 1.35% |
| Netflix Inc. |
53.03%
8,715
|
$5,881,580,000 | 1.34% |
| Spdr Sp 500 Etf Tr |
0.44%
10,558
|
$5,745,875,000 | 1.30% |
| ServiceNow Inc |
2.48%
7,287
|
$5,732,071,000 | 1.30% |
| Chipotle Mexican Grill |
4,875.52%
86,375
|
$5,411,394,000 | 1.23% |
| Transdigm Group Incorporated |
0.07%
4,122
|
$5,266,309,000 | 1.20% |
| Arm Holdings Plc |
Opened
32,027
|
$5,240,258,000 | 1.19% |
| Intuitive Surgical Inc |
1.57%
11,096
|
$4,936,056,000 | 1.12% |
| e.l.f. Beauty Inc |
Opened
22,454
|
$4,731,507,000 | 1.07% |
| Automatic Data Processing In |
3.25%
19,101
|
$4,559,338,000 | 1.04% |
| Deere Co |
2.88%
12,170
|
$4,547,078,000 | 1.03% |
| Abbvie Inc |
0.38%
25,740
|
$4,414,925,000 | 1.00% |
| Cheniere Energy Inc. |
1.03%
24,399
|
$4,265,678,000 | 0.97% |
| Unitedhealth Group Inc |
3.01%
8,112
|
$4,131,118,000 | 0.94% |
| Costco Whsl Corp New |
0.77%
4,633
|
$3,938,179,000 | 0.89% |
| Neurocrine Biosciences, Inc. |
0.13%
28,343
|
$3,901,981,000 | 0.89% |
| Uber Technologies Inc |
0.65%
53,314
|
$3,874,862,000 | 0.88% |
| Howmet Aerospace Inc. |
0.28%
49,573
|
$3,848,352,000 | 0.87% |
| Diamondback Energy Inc |
0.62%
18,694
|
$3,742,352,000 | 0.85% |
| Medpace Holdings Inc |
Opened
8,953
|
$3,687,294,000 | 0.84% |
| Idexx Labs Inc |
Closed
6,484
|
$3,500,907,000 | |
| Deckers Outdoor Corp. |
47.95%
3,370
|
$3,261,992,000 | 0.74% |
| Old Dominion Freight Line In |
27.56%
17,724
|
$3,130,059,000 | 0.71% |
| Waste Mgmt Inc Del |
0.44%
13,726
|
$2,928,330,000 | 0.66% |
| Ulta Beauty Inc |
Closed
5,321
|
$2,782,245,000 | |
| Intuit Inc |
0.07%
4,213
|
$2,768,826,000 | 0.63% |
| Oracle Corp. |
1.43%
19,010
|
$2,684,212,000 | 0.61% |
| Johnson Johnson |
9.45%
17,576
|
$2,568,909,000 | 0.58% |
| Home Depot, Inc. |
13.70%
7,452
|
$2,565,277,000 | 0.58% |
| Blackrock Inc. |
No change
2,849
|
$2,243,075,000 | 0.51% |
| Valero Energy Corp. |
7.71%
13,529
|
$2,120,807,000 | 0.48% |
| Blackstone Inc |
7.74%
16,066
|
$1,988,971,000 | 0.45% |
| Visa Inc |
8.93%
7,319
|
$1,921,018,000 | 0.44% |
| Vanguard Index Fds |
0.58%
46,113
|
$8,298,421,000 | 1.88% |
| Morgan Stanley |
0.38%
19,412
|
$1,886,653,000 | 0.43% |
| Enterprise Prods Partners L |
4.65%
64,104
|
$1,857,734,000 | 0.42% |
| Chevron Corp. |
1.95%
11,039
|
$1,726,656,000 | 0.39% |
| AMGEN Inc. |
8.96%
5,461
|
$1,706,290,000 | 0.39% |
| Texas Instrs Inc |
0.02%
8,557
|
$1,664,594,000 | 0.38% |
| Solaredge Technologies Inc |
296.82%
62,300
|
$1,573,698,000 | 0.36% |
| Eaton Corp Plc |
0.49%
4,839
|
$1,517,269,000 | 0.34% |
| Blackrock Corpor Hi Yld Fd I |
3.67%
155,387
|
$1,505,701,000 | 0.34% |
| Thermo Fisher Scientific Inc. |
No change
2,617
|
$1,447,201,000 | 0.33% |
| Air Prods Chems Inc |
1.89%
5,338
|
$1,377,471,000 | 0.31% |
| Adobe Inc |
71.00%
2,365
|
$1,313,853,000 | 0.30% |
| Pimco Corporate Income Opp |
8.20%
88,217
|
$1,262,386,000 | 0.29% |
| Coinbase Global Inc |
No change
5,430
|
$1,206,709,000 | 0.27% |
| Caterpillar Inc. |
0.68%
3,530
|
$1,175,843,000 | 0.27% |
| Fastenal Co. |
0.03%
17,440
|
$1,095,930,000 | 0.25% |
| L3Harris Technologies Inc |
0.49%
4,708
|
$1,057,323,000 | 0.24% |
| Bank America Corp |
No change
26,216
|
$1,042,603,000 | 0.24% |
| Starbucks Corp. |
42.87%
12,834
|
$999,127,000 | 0.23% |
| Paychex Inc. |
6.40%
8,040
|
$953,223,000 | 0.22% |
| Energy Transfer L P |
4.62%
56,874
|
$922,497,000 | 0.21% |
| Aflac Inc. |
No change
10,160
|
$907,390,000 | 0.21% |
| Spdr Ser Tr |
69.92%
9,478
|
$1,107,415,000 | 0.25% |
| Honeywell International Inc |
0.64%
3,860
|
$824,265,000 | 0.19% |
| Wisdomtree Tr |
1.66%
33,459
|
$1,491,787,000 | 0.34% |
| Goldman Sachs Etf Tr |
Opened
7,540
|
$806,403,000 | 0.18% |
| Invesco Exchange Traded Fd T |
2.78%
11,003
|
$1,380,383,000 | 0.31% |
| Danaher Corp. |
No change
2,992
|
$747,552,000 | 0.17% |
| Alps Etf Tr |
2.74%
15,565
|
$746,809,000 | 0.17% |
| Microchip Technology, Inc. |
3.19%
7,894
|
$722,301,000 | 0.16% |
| Tractor Supply Co. |
1.05%
2,641
|
$713,070,000 | 0.16% |
| RTX Corp |
No change
6,380
|
$640,489,000 | 0.15% |
| Ishares Tr |
3.90%
16,186
|
$1,375,850,000 | 0.31% |
| Pepsico Inc |
5.64%
3,743
|
$617,333,000 | 0.14% |
| Vanguard Specialized Funds |
0.33%
3,333
|
$608,440,000 | 0.14% |
| Nxp Semiconductors N V |
4.70%
2,252
|
$605,991,000 | 0.14% |
| Vanguard Whitehall Fds |
0.86%
4,978
|
$590,391,000 | 0.13% |
| Invesco Exch Traded Fd Tr Ii |
Opened
9,082
|
$589,876,000 | 0.13% |
| American Express Co. |
No change
2,461
|
$569,845,000 | 0.13% |
| Tjx Cos Inc New |
9.05%
4,842
|
$533,105,000 | 0.12% |
| Procter And Gamble Co |
18.41%
3,216
|
$530,383,000 | 0.12% |
| Abbott Labs |
No change
4,983
|
$517,784,000 | 0.12% |
| First Tr Value Line Divid In |
Opened
12,000
|
$489,000,000 | 0.11% |
| Blackrock Mun Target Term Tr |
No change
22,750
|
$472,518,000 | 0.11% |
| Astrazeneca plc |
4.00%
5,083
|
$396,424,000 | 0.09% |
| Toronto Dominion Bk Ont |
No change
6,942
|
$381,533,000 | 0.09% |
| Lockheed Martin Corp. |
No change
809
|
$377,884,000 | 0.09% |
| Union Pac Corp |
No change
1,655
|
$374,461,000 | 0.09% |
| Carrier Global Corporation |
No change
5,900
|
$372,172,000 | 0.08% |
| NextEra Energy Inc |
8.33%
5,103
|
$361,344,000 | 0.08% |
| Ishares Tr |
Opened
985
|
$359,043,000 | 0.08% |
| Cheniere Energy Partners LP |
No change
7,295
|
$358,258,000 | 0.08% |
| Oneok Inc. |
1.16%
4,369
|
$356,292,000 | 0.08% |
| Verizon Communications Inc |
7.95%
8,104
|
$334,218,000 | 0.08% |
| Goldman Sachs Group, Inc. |
37.24%
737
|
$333,360,000 | 0.08% |
| John Hancock Exchange Traded |
Opened
6,050
|
$332,992,000 | 0.08% |
| Mccormick Co Inc |
No change
4,430
|
$314,265,000 | 0.07% |
| Jpmorgan Chase Finl Co Llc |
Opened
10,789
|
$312,234,000 | 0.07% |
| Jpmorgan Chase Co |
Closed
10,789
|
$307,379,000 | |
| Blackrock Mun Income Quality |
48.10%
24,325
|
$278,765,000 | 0.06% |
| Intel Corp. |
Closed
6,160
|
$272,097,000 | |
| Prologis Inc |
1.03%
2,414
|
$271,117,000 | 0.06% |
| Block Inc |
12.03%
4,015
|
$258,928,000 | 0.06% |
| Welltower Inc. |
Opened
2,463
|
$256,768,000 | 0.06% |
| Phillips 66 |
Closed
1,493
|
$243,867,000 | |
| Vanguard Scottsdale Fds |
No change
3,116
|
$240,789,000 | 0.05% |
| Vanguard Scottsdale Fds |
Opened
2,500
|
$234,525,000 | 0.05% |
| Indexiq Etf Tr |
Opened
8,520
|
$227,484,000 | 0.05% |
| Tesla Inc |
65.41%
1,123
|
$222,121,000 | 0.05% |
| Monolithic Pwr Sys Inc |
Opened
264
|
$216,924,000 | 0.05% |
| DraftKings Inc. |
16.37%
5,618
|
$214,440,000 | 0.05% |
| Williams-Sonoma, Inc. |
No change
755
|
$213,190,000 | 0.05% |
| Lam Research Corp. |
Opened
198
|
$210,841,000 | 0.05% |
| Bristol-Myers Squibb Co. |
Closed
3,857
|
$209,144,000 | |
| Ark Etf Tr |
No change
4,647
|
$204,236,000 | 0.05% |
| First Tr Exchange-traded Fd |
Opened
4,000
|
$202,080,000 | 0.05% |
| 3M Co. |
Closed
1,905
|
$202,064,000 | |
| Sprott Physical Gold Silve |
Opened
9,146
|
$201,670,000 | 0.05% |
| Pfizer Inc. |
Closed
7,262
|
$201,521,000 | |
| Schwab Strategic Tr |
2.68%
2,583
|
$200,855,000 | 0.05% |
| No transactions found | |||
| Showing first 500 out of 134 holdings | |||
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