Cove Private Wealth 13F annual report

Cove Private Wealth is an investment fund managing more than $125 billion ran by Joseph Jr.. There are currently 72 companies in Mr. Jr.’s portfolio. The largest investments include NVIDIA Corp and Microsoft, together worth $26.9 billion.

$125 billion Assets Under Management (AUM)

As of 17th July 2024, Cove Private Wealth’s top holding is 126,290 shares of NVIDIA Corp currently worth over $15.6 billion and making up 12.5% of the portfolio value. Relative to the number of outstanding shares of NVIDIA Corp, Cove Private Wealth owns more than approximately 0.1% of the company. In addition, the fund holds 25,273 shares of Microsoft worth $11.3 billion, whose value grew 8.6% in the past six months. The third-largest holding is Apple Inc worth $11 billion and the next is Amazon.com worth $5.26 billion, with 27,242 shares owned.

Currently, Cove Private Wealth's portfolio is worth at least $125 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 Cove Private Wealth

The Cove Private Wealth office and employees reside in Oyster Bay Cove, New York. According to the last 13-F report filed with the SEC, Joseph Jr. serves as the Managing Member at Cove Private Wealth.

Recent trades

In the most recent 13F filing, Cove Private Wealth revealed that it had opened a new position in Albemarle and bought 19,140 shares worth $1.83 billion. This means they effectively own approximately 0.1% of the company. Albemarle makes up 44.0% of the fund's Materials sector allocation and has decreased its share price by 56.3% in the past year.

The investment fund also strengthened its position in NVIDIA Corp by buying 113,161 additional shares. This makes their stake in NVIDIA Corp total 126,290 shares worth $15.6 billion. NVIDIA Corp dropped 72.3% in the past year.

On the other hand, there are companies that Cove Private Wealth is getting rid of from its portfolio. Cove Private Wealth closed its position in Vanguard Index Fds on 24th July 2024. It sold the previously owned 1,980 shares for $444 million. Joseph Jr. also disclosed a decreased stake in Microsoft by approximately 0.1%. This leaves the value of the investment at $11.3 billion and 25,273 shares.

One of the smallest hedge funds

The two most similar investment funds to Cove Private Wealth are Valley Brook Capital and Integrated Capital Management, Inc. They manage $125 billion and $125 billion respectively.


Joseph Jr. investment strategy

Cove Private Wealth’s portfolio is diversified across 11 sectors. Currently, their heaviest sector is Technology — making up 36.3% of the total portfolio value. The fund focuses on investments in the United States as 62.5% 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 65% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $271 billion.

The complete list of Cove Private Wealth trades based on 13F SEC filings

These positions were updated on July 24th 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
861.92%
126,290
$15,601,867,000 12.47%
Microsoft Corporation
3.30%
25,273
$11,295,767,000 9.03%
Apple Inc
No change
52,041
$10,960,875,000 8.76%
Amazon.com Inc.
1.46%
27,242
$5,264,517,000 4.21%
Broadcom Inc
No change
2,350
$3,772,996,000 3.02%
JPMorgan Chase & Co.
No change
18,400
$3,721,584,000 2.97%
Alphabet Inc
5.87%
35,530
$6,494,801,000 5.19%
Ishares Inc
No change
58,258
$3,118,551,000 2.49%
Visa Inc
No change
11,050
$2,900,294,000 2.32%
Mckesson Corporation
No change
4,075
$2,379,963,000 1.90%
Vanguard Index Fds
4.74%
6,032
$2,603,936,000 2.08%
Home Depot, Inc.
No change
6,378
$2,195,563,000 1.75%
Ameriprise Finl Inc
No change
5,123
$2,188,494,000 1.75%
Thermo Fisher Scientific Inc.
No change
3,575
$1,976,975,000 1.58%
Oracle Corp.
No change
13,150
$1,856,780,000 1.48%
Bank America Corp
No change
7,625
$2,095,722,000 1.67%
Nucor Corp.
No change
11,625
$1,837,680,000 1.47%
Ametek Inc
No change
11,000
$1,833,810,000 1.47%
Albemarle Corp.
Opened
19,140
$1,828,253,000 1.46%
Roper Technologies Inc
No change
2,900
$1,634,614,000 1.31%
Parker-Hannifin Corp.
No change
3,150
$1,593,302,000 1.27%
Chevron Corp.
No change
9,215
$1,441,410,000 1.15%
Wells Fargo Co New
No change
1,169
$1,389,920,000 1.11%
Intuit Inc
No change
2,065
$1,357,139,000 1.08%
Nike, Inc.
37.12%
17,455
$1,315,583,000 1.05%
Johnson & Johnson
No change
8,870
$1,296,385,000 1.04%
Disney Walt Co
No change
13,000
$1,290,770,000 1.03%
Adobe Inc
No change
2,285
$1,269,409,000 1.01%
Norfolk Southn Corp
No change
5,500
$1,180,795,000 0.94%
Edwards Lifesciences Corp
No change
12,769
$1,179,473,000 0.94%
Medtronic Plc
No change
14,885
$1,171,598,000 0.94%
Exxon Mobil Corp.
No change
10,161
$1,169,734,000 0.93%
Qualcomm, Inc.
No change
5,720
$1,139,310,000 0.91%
Pepsico Inc
No change
6,705
$1,105,856,000 0.88%
Salesforce Inc
No change
4,225
$1,086,248,000 0.87%
Costco Whsl Corp New
No change
1,180
$1,002,988,000 0.80%
American Tower Corp.
No change
5,000
$971,900,000 0.78%
Gilead Sciences, Inc.
No change
13,850
$950,249,000 0.76%
B & G Foods Inc New
Opened
114,950
$928,796,000 0.74%
Eog Res Inc
No change
6,950
$874,797,000 0.70%
Price T Rowe Group Inc
No change
7,575
$873,473,000 0.70%
Corning, Inc.
No change
21,975
$853,729,000 0.68%
Digital Rlty Tr Inc
No change
5,450
$828,673,000 0.66%
Kenvue Inc
1.60%
44,539
$809,721,000 0.65%
American Wtr Wks Co Inc New
No change
5,975
$771,731,000 0.62%
Meta Platforms Inc
No change
1,305
$658,007,000 0.53%
Mcdonalds Corp
No change
2,550
$649,842,000 0.52%
Cisco Sys Inc
No change
13,200
$627,132,000 0.50%
Prologis Inc
No change
5,500
$617,705,000 0.49%
Church & Dwight Co., Inc.
No change
5,880
$609,638,000 0.49%
Spdr S&p 500 Etf Tr
No change
1,100
$598,642,000 0.48%
Walmart Inc
No change
8,442
$571,608,000 0.46%
Paramount Global
No change
54,615
$567,450,000 0.45%
CVS Health Corp
No change
9,104
$537,682,000 0.43%
Ecolab, Inc.
No change
2,075
$493,850,000 0.39%
Cigna Group (The)
No change
1,450
$479,327,000 0.38%
Kimberly-Clark Corp.
No change
3,425
$473,335,000 0.38%
Abbvie Inc
No change
2,750
$471,680,000 0.38%
Becton Dickinson & Co.
No change
1,925
$449,892,000 0.36%
Bristol-Myers Squibb Co.
No change
10,170
$422,360,000 0.34%
Pfizer Inc.
No change
11,630
$325,407,000 0.26%
Verizon Communications Inc
No change
7,861
$324,188,000 0.26%
Ishares Tr
9.26%
885
$322,591,000 0.26%
Honeywell International Inc
No change
1,500
$320,310,000 0.26%
Pimco Mun Income Fd Ii
No change
36,591
$312,121,000 0.25%
Spdr Gold Tr
No change
1,405
$302,089,000 0.24%
Procter And Gamble Co
No change
1,800
$296,856,000 0.24%
RTX Corp
No change
2,890
$290,127,000 0.23%
Chubb Limited
No change
1,100
$280,588,000 0.22%
Lauder Estee Cos Inc
No change
2,450
$260,680,000 0.21%
Sysco Corp.
No change
3,500
$249,865,000 0.20%
Vanguard Index Fds
Closed
1,980
$443,944,000
Intercontinental Exchange In
No change
1,500
$205,335,000 0.16%
No transactions found
Showing first 500 out of 73 holdings