CIK: 0001697717
Total reported value
$664.2M
Reporting period: 2026-03-31 · Number of holdings: 165
Covenant Asset Management, LLC disclosed 165 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $664.2M and a quarterly turnover rate of 59.7%.
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Covenant Asset Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.026 — mathematically equivalent to about 38 equally-sized positions, well below its 165 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.67), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim BKNG
-89.2% -$150.0M
Add ASML
+182.0% $22.0M
Add GEV
+50.8% $11.1M
Add MPWR
+34.2% $10.0M
Trim KLAC
-61.5% -$21.0M
Add CAT
+443.8% $8.9M
Showing top 143 holdings (of 165 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 7.11% | -0.82% | -25.01% | |
| 2 | NVDA | Nvidia CORP | Stock-Tech | 6.79% | +0.97% | -1.78% | |
| 3 | ASML | ASML Holding N.V. | Stock-Tech | 4.65% | +3.60% | +182.02% | |
| 4 | MPWR | Monolithic Power Systems INC | Stock-Tech | 3.94% | +2.02% | +34.18% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 3.83% | -0.08% | +0.71% | |
| 6 | GEV | GE Vernova INC | Stock-Industrials | 3.31% | +2.02% | +50.78% | |
| 7 | AAPL | Apple INC | Stock-Tech | 3.18% | — | +3.49% | |
| 8 | AVGO | Broadcom INC | Stock-Tech | 2.89% | -0.46% | -24.26% | |
| 9 | KLAC | Kla CORP | Stock-Tech | 2.76% | -1.90% | -61.54% | |
| 10 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.76% | +0.31% | -1.84% | |
| 11 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.73% | +0.84% | +23.86% | |
| 12 | LLY | Eli Lilly & Co | Stock-Healthcare | 2.63% | — | +19.78% | |
| 13 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.58% | -0.06% | -11.26% | |
| 14 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 2.13% | +1.18% | +52.90% | |
| 15 | PWR | Quanta Services INC | Stock-Industrials | 2.10% | +0.84% | +0.91% | |
| 16 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 2.09% | -17.32% | -89.22% | |
| 17 | SHOP | Shopify INC - Class A | Stock-Tech | 1.82% | -0.11% | +0.93% | |
| 18 | HWM | Howmet Aerospace INC | Stock-Industrials | 1.69% | +0.54% | +2.22% | |
| 19 | NFLX | Netflix INC | Stock-Comm Services | 1.57% | -0.48% | -41.41% | |
| 20 | CAT | Caterpillar INC | Stock-Industrials | 1.57% | +1.39% | +443.77% | |
| 21 | AZN | AstraZeneca PLC | Stock-Healthcare | 1.30% | +1.30% | NEW | |
| 22 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.24% | — | -0.76% | |
| 23 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.22% | — | -1.03% | |
| 24 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.22% | +0.54% | +55.04% | |
| 25 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.08% | +1.08% | NEW | |
| 26 | TSLA | Tesla INC | Stock-Consumer Disc | 1.01% | -0.55% | -38.55% | |
| 27 | MRK | Merck & Co. INC. | Stock-Healthcare | 1.00% | — | — | |
| 28 | BE | Bloom Energy Corp- A | Stock-Industrials | 0.96% | +0.96% | NEW | |
| 29 | GE | General Electric | Stock-Industrials | 0.95% | — | +5.27% | |
| 30 | HOOD | Robinhood Markets INC - A | Stock-Financials | 0.94% | -0.35% | -6.41% | |
| 31 | MELI | Mercadolibre INC | Stock-Consumer Disc | 0.91% | +0.91% | NEW | |
| 32 | ANET | Arista Networks INC | Stock-Tech | 0.91% | -0.39% | -40.98% | |
| 33 | ADI | Analog Devices INC | Stock-Tech | 0.89% | +0.59% | +102.45% | |
| 34 | AXP | American Express Co | Stock-Financials | 0.85% | — | +20.75% | |
| 35 | GS | Goldman Sachs Group INC | Stock-Financials | 0.84% | — | +2.33% | |
| 36 | VRTX | Vertex Pharmaceuticals INC | Stock-Healthcare | 0.81% | — | +1.61% | |
| 37 | RBC | RBC Bearings INC | Stock-Industrials | 0.77% | +0.77% | NEW | |
| 38 | ODFL | Old Dominion Freight Line | Stock-Industrials | 0.77% | +0.77% | NEW | |
| 39 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.73% | +0.47% | +168.02% | |
| 40 | CBOE | Cboe Global Markets INC | Stock-Financials | 0.73% | +0.73% | NEW | |
| 41 | SPOT | Spotify Technology S.A. | Stock-Comm Services | 0.73% | -0.64% | -49.82% | |
| 42 | AGX | Argan INC | Stock-Industrials | 0.71% | +0.38% | -0.62% | |
| 43 | ABBV | Abbvie INC | Stock-Healthcare | 0.70% | — | -0.87% | |
| 44 | COF | Capital One Financial CORP | Stock-Financials | 0.69% | -0.02% | +2.06% | |
| 45 | SF | Stifel Financial CORP | Stock-Financials | 0.67% | — | +85.62% | |
| 46 | FTAI | FTAI Aviation Ltd. | Stock-Industrials | 0.66% | +0.66% | NEW | |
| 47 | ORCL | Oracle CORP | Stock-Tech | 0.57% | — | +17.53% | |
| 48 | ADP | Automatic Data Processing | Stock-Tech | 0.53% | — | -1.44% | |
| 49 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.50% | — | -0.66% | |
| 50 | VUG | Vanguard Growth ETF | ETF-Other | 0.49% | — | -0.60% |
Performance for Q3 2026
-2.9%
Performance Last 4 Quarters
+2.9%
Based on 59% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 165 | $664.2M | 60 | |
| 2025-12-31 | 164 | $844.4M | 38 | |
| 2025-09-30 | 162 | $884.7M | 70 | |
| 2025-06-30 | 155 | $676.6M | 0 | |
| 2025-03-31 | 155 | $454.1M | 100 | |
| 2024-12-31 | 165 | $651.6M | 0 | |
| 2024-09-30 | 164 | $636.0M | 0 | |
| 2024-06-30 | 163 | $628.7M | 0 | |
| 2024-03-31 | 144 | $609.7M | 0 | |
| 2023-12-31 | 154 | $556.6M | 0 | |
| 2023-09-30 | 150 | $379.3M | 0 | |
| 2023-06-30 | 154 | $394.1M | 0 | |
| 2023-03-31 | 167 | $420.3M | 0 | |
| 2022-12-31 | 169 | $418.9M | 0 | |
| 2022-09-30 | 158 | $350.8M | 0 | |
| 2022-06-30 | 151 | $314.8M | 0 | |
| 2022-03-31 | 148 | $370.2M | 0 | |
| 2021-12-31 | 137 | $376.3M | 0 | |
| 2021-09-30 | 133 | $336.8M | 0 | |
| 2021-06-30 | 133 | $336.0M | 100 | |
| 2021-03-31 | 143 | $320.8M | 36 | |
| 2020-12-31 | 133 | $303.5M | 35 | |
| 2020-09-30 | 126 | $312.1M | 52 | |
| 2020-06-30 | 132 | $451.8M | 37 | |
| 2020-03-31 | 139 | $331.5M | 63 | |
| 2019-12-31 | 143 | $228.5M | 33 | |
| 2019-09-30 | 137 | $199.2M | 27 | |
| 2019-06-30 | 138 | $192.8M | 21 | |
| 2019-03-31 | 137 | $190.3M | 37 | |
| 2018-12-31 | 141 | $198.5M | 0 | |
| 2018-09-30 | 141 | $198.5M | 20 | |
| 2018-06-30 | 141 | $185.1M | 25 | |
| 2018-03-31 | 154 | $173.1M | 30 | |
| 2017-12-31 | 148 | $172.0M | 17 | |
| 2017-09-30 | 140 | $163.9M | 20 | |
| 2017-06-30 | 136 | $156.3M | 9 | |
| 2017-03-31 | 130 | $148.3M | 46 | |
| 2016-12-31 | 130 | $149.0M | — |
Covenant Asset Management, LLC's most significant position changes for 2026-03-31: New buy: AstraZeneca PLC (AZN); New buy: Taiwan Semiconductor-sp Adr (TSM); New buy: Bloom Energy Corp- A (BE); New buy: Mercadolibre INC (MELI); New buy: RBC Bearings INC (RBC).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ASML | ASML Holding N.V. | +3.6% | +182.02% | Add |
| 2 | GEV | GE Vernova INC | +2% | +50.78% | Add |
| 3 | MPWR | Monolithic Power Systems INC | +2% | +34.18% | Add |
| 4 | CAT | Caterpillar INC | +1.4% | +443.77% | Add |
| 5 | COST | Costco Wholesale CORP | +1.2% | +52.90% | Add |
| 6 | NVDA | Nvidia CORP | +1% | -1.78% | Trim |
| 7 | PWR | Quanta Services INC | +0.8% | +0.91% | Add |
| 8 | GOOGL | Alphabet Inc-cl A | +0.8% | +23.86% | Add |
| 9 | ADI | Analog Devices INC | +0.6% | +102.45% | Add |
| 10 | GOOG | Alphabet Inc-cl C | +0.5% | +55.04% | Add |
| 11 | HWM | Howmet Aerospace INC | +0.5% | +2.22% | Add |
| 12 | PLTR | Palantir Technologies Inc-a | +0.5% | +168.02% | Add |
| 13 | AGX | Argan INC | +0.4% | -0.62% | Trim |
| 14 | AMZN | Amazon.com INC | +0.3% | -1.84% | Trim |
| 15 | BIV | Vanguard Intermediate-term B | +0.2% | +114.97% | Add |
| 16 | COF | Capital One Financial CORP | 0% | +2.06% | Add |
| 17 | META | Meta Platforms Inc-class A | -0.1% | -11.26% | Trim |
| 18 | QCOM | Qualcomm INC | -0.1% | -12.88% | Trim |
| 19 | MSFT | Microsoft CORP | -0.1% | +0.71% | Add |
| 20 | SHOP | Shopify INC - Class A | -0.1% | +0.93% | Add |
| 21 | NOW | Servicenow INC | -0.3% | -87.92% | Trim |
| 22 | HOOD | Robinhood Markets INC - A | -0.4% | -6.41% | Trim |
| 23 | ARM | Arm Holdings Plc-adr | -0.4% | -91.59% | Trim |
| 24 | ANET | Arista Networks INC | -0.4% | -40.98% | Trim |
| 25 | AVGO | Broadcom INC | -0.5% | -24.26% | Trim |
| 26 | NFLX | Netflix INC | -0.5% | -41.41% | Trim |
| 27 | TSLA | Tesla INC | -0.6% | -38.55% | Trim |
| 28 | TDG | Transdigm Group INC | -0.6% | -95.14% | Trim |
| 29 | SPOT | Spotify Technology S.A. | -0.6% | -49.82% | Trim |
| 30 | QQQ | Invesco Qqq Trust Series 1 | -0.8% | -25.01% | Trim |
| 31 | PANW | Palo Alto Networks INC | -0.9% | -80.10% | Trim |
| 32 | KLAC | Kla CORP | -1.9% | -61.54% | Trim |
| 33 | BKNG | Booking Holdings INC | -17.3% | -89.22% | Trim |
| 34 | AZN | AstraZeneca PLC | — | NEW | New buy |
| 35 | TSM | Taiwan Semiconductor-sp Adr | — | NEW | New buy |
| 36 | BE | Bloom Energy Corp- A | — | NEW | New buy |
| 37 | MELI | Mercadolibre INC | — | NEW | New buy |
| 38 | RBC | RBC Bearings INC | — | NEW | New buy |
| 39 | ODFL | Old Dominion Freight Line | — | NEW | New buy |
| 40 | CBOE | Cboe Global Markets INC | — | NEW | New buy |
| 41 | SOFI | Sofi Technologies INC | — | EXIT | Sold out |
| 42 | UBER | Uber Technologies INC | — | EXIT | Sold out |
| 43 | W | Wayfair Inc- Class A | — | EXIT | Sold out |
| 44 | TTD | Trade Desk Inc/the -class A | — | EXIT | Sold out |
| 45 | FTAI | FTAI Aviation Ltd. | — | NEW | New buy |
| 46 | BSX | Boston Scientific CORP | — | EXIT | Sold out |
| 47 | EL | Estee Lauder Companies-cl A | — | EXIT | Sold out |
| 48 | CAH | Cardinal Health INC | — | NEW | New buy |
| 49 | IBKR | Interactive Brokers Gro-cl A | — | EXIT | Sold out |
| 50 | CRDO | Credo Technology Group Holding Ltd | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-04-14 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-01-30 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-10-30 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-07-17 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-05 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-01-30 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-02 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-04-23 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-01-22 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-10-31 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-07-12 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-04-27 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-01-24 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-03 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-07-21 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-04-29 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-01-26 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-10-27 | Amendment | View on EDGAR |
| 2021-09-30 | 2021-10-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-21 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-19 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-01-28 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-10-29 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-07-24 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-04-22 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-01-24 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-10-18 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-07-17 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-04-26 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-01-08 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-10-09 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-07-12 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-04 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-01-12 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-10-19 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-07-11 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-04-21 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
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