Covenant Asset Management, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 23, 2024), Covenant Asset Management, LLC reported 134 stock positions worth $411.7 million. Its top holding was Microsoft (MSFT) at 7.5% of the portfolio, followed by Nvidia (NVDA, 7.1%) and Apple (AAPL, 4.1%). Compared with Q4 2023, it opened 8 new positions, sold out of 10, added to 69 and reduced 33. The biggest buy was Nvidia (NVDA, shares +0%) and the biggest sale Apple (AAPL, shares −1%).

Most Recent 13F
Q2 2026
Location
CHESTER, NJ
CIK
0001697717
Portfolio Value
$411.7M (Q1 2024)
SEC Filing
0001697717-24-000004 ↗ filed Apr 23, 2024

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $411.7M $411.7M Q1 2024 Q2 2024: $444.8M Q2 2024 Q3 2024: $451.0M Q3 2024 Q4 2024: $450.8M Q4 2024 Q1 2025: $397.7M Q1 2025 Q2 2025: $486.6M Q2 2025 Q3 2025: $529.7M Q3 2025 Q4 2025: $518.9M Q4 2025 Q1 2026: $487.8M Q1 2026 Q2 2026: $562.1M Q2 2026

Holdings 134 stocks · $411.7M
MSFT Microsoft Corp. 7.47% 73,134 $30.8M Add +0.2%
NVDA Nvidia Corp. 7.12% 32,417 $29.3M Add +0.3%
AAPL Apple Inc. 4.10% 98,410 $16.9M Reduce -1.4%
AMZN Amazon.com Inc. 3.95% 90,112 $16.3M Reduce -0.6%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 2.94% 138,513 $12.1M Add +0.1%
AVGO Broadcom Inc. 2.39% 7,419 $9.8M Add +1.6%
META Meta Platforms Inc. Class A 2.31% 19,595 $9.5M Add +105.7%
LLY Eli Lilly & Co. 2.27% 11,990 $9.3M Add +0.4%
GOOGL Alphabet Inc. Class A 2.19% 59,627 $9.0M Reduce -1.2%
AMD Advanced Micro Devices 2.00% 45,572 $8.2M Add +1.0%
SHOP Shopify Inc. Class A 1.97% 105,337 $8.1M Reduce -0.6%
ASML ASML Holding NV-NY Reg SHS 1.93% 8,172 $7.9M Add +0.2%
MRK Merck & Co. Inc. 1.92% 59,934 $7.9M Reduce -1.6%
QCOM Qualcomm Inc. 1.85% 44,864 $7.6M Reduce -0.0%
PANW Palo Alto Networks Inc. 1.79% 25,941 $7.4M Add +1.4%
SNPS Synopsys Inc. 1.76% 12,695 $7.3M Add +4.3%
PWR Quanta Services Inc. 1.66% 26,286 $6.8M Reduce -0.3%
ANET Arista Networks Inc. 1.51% 21,410 $6.2M Add +0.5%
REGN Regeneron Pharmaceuticals 1.49% 6,355 $6.1M Reduce -0.2%
JPM JPMorgan Chase & Co. 1.48% 30,431 $6.1M Add +4.1%
DECK Deckers Outdoor Corp. 1.48% 6,475 $6.1M Reduce -1.3%
SPY SS SPDR S&P 500 ETF Trust-US 1.34% 10,512 $5.5M Add +9.8%
NOW ServiceNow Inc. 1.32% 7,111 $5.4M Add +5.3%
ODFL Old Dominion Freight Line 1.30% 24,466 $5.4M Add +2.5%
DE Deere & Co. 1.25% 12,531 $5.1M Add +0.7%
TDG Transdigm Group Inc. 1.23% 4,119 $5.1M Add +0.1%
VRTX Vertex Pharmaceuticals Inc. 1.23% 12,093 $5.1M Add +7.1%
CMG Chipotle Mexican Grill Inc. 1.23% 1,736 $5.0M Add +0.6%
KLAC KLA Corp. 1.21% 7,146 $5.0M Add +1.8%
ADP Automatic Data Processing 1.20% 19,742 $4.9M Add +0.1%
ABBV Abbvie Inc. 1.14% 25,837 $4.7M Add +5.0%
ISRG Intuitive Surgical Inc. 1.06% 10,924 $4.4M Add +1.1%
ADBE Adobe Inc. 1.00% 8,155 $4.1M Add +2.6%
UBER Uber Technologies Inc. 0.99% 52,971 $4.1M Add +0.3%
LNG Cheniere Energy Inc. 0.97% 24,654 $4.0M Reduce -0.2%
NBIX Neurocrine Biosciences Inc. 0.95% 28,306 $3.9M Add +1.9%
UNH Unitedhealth Group Inc. 0.95% 7,875 $3.9M Add +18.6%
FANG Diamondback Energy Inc. 0.91% 18,811 $3.7M Reduce -1.3%
QQQ Invesco QQQ Trust Series 1 0.90% 8,322 $3.7M Add +3.6%
IDXX Idexx Laboratories Inc. 0.85% 6,484 $3.5M Add +1.5%
NFLX Netflix Inc. 0.84% 5,695 $3.5M Reduce -0.1%
COST Costco Wholesale Corp. 0.83% 4,669 $3.4M Add +0.9%
HWM Howmet Aerospace Inc. 0.83% 49,714 $3.4M New
JNJ Johnson & Johnson 0.75% 19,410 $3.1M Reduce -2.0%
WM Waste Management Inc. 0.71% 13,786 $2.9M Add +2.1%
ULTA Ulta Beauty Inc. 0.68% 5,321 $2.8M Add +0.1%
INTU Intuit Inc. 0.66% 4,210 $2.7M Add +3.1%
HD Home Depot Inc. 0.61% 6,554 $2.5M Add +4.4%
VLO Valero Energy Corp. 0.61% 14,659 $2.5M Add +0.4%
GOOG Alphabet Inc. Class C 0.60% 16,180 $2.5M Reduce -1.0%
ORCL Oracle Corp. 0.59% 19,285 $2.4M No change
BLK BlackRock Finance Inc. 0.58% 2,849 $2.4M Add +3.5%
BX Blackstone Inc. 0.56% 17,414 $2.3M Reduce -2.5%
SBUX Starbucks Corp. 0.50% 22,466 $2.1M Add +0.9%
VTV Vanguard Mrngstr Val ETF-Aui 0.49% 12,478 $2.0M Reduce -1.8%
EPD Enterprise Products Partners 0.48% 67,229 $2.0M Add +2.1%
V Visa Inc. Class A 0.46% 6,719 $1.9M Add +1.4%
MS Morgan Stanley 0.44% 19,339 $1.8M Add +3.5%
VUG Vanguard Mrngstar GR ETF-Sui 0.42% 4,970 $1.7M Reduce -1.9%
CVX Chevron Corp. 0.41% 10,828 $1.7M Add +4.6%
VNQ Vanguard Real Estate ETF 0.39% 18,751 $1.6M Add +6.0%
HYT BlackRock Corp. Hi YLD 0.38% 161,300 $1.6M Add +3.7%
TMO Thermo Fisher Scientific Inc. 0.37% 2,617 $1.5M Reduce -3.5%
ETN Eaton Corp. PLC 0.37% 4,863 $1.5M Add +8.2%
TXN Texas Instruments Inc. 0.36% 8,555 $1.5M Add +9.2%
COIN Coinbase Global Inc. Class A 0.35% 5,430 $1.4M No change
AMGN Amgen Inc. 0.35% 5,012 $1.4M Add +5.5%
FAST Fastenal Co. 0.33% 17,434 $1.3M Add +4.5%
APD Air Products & Chemicals Inc. 0.32% 5,441 $1.3M Add +2.4%
CAT Caterpillar Inc. 0.32% 3,554 $1.3M Add +1.5%
VTI VG Morningstar TS MKT ETF-US 0.31% 4,978 $1.3M Add +17.4%
PTY PIMCO Corporate & Income Opp 0.29% 81,532 $1.2M Add +37.5%
SEDG Solaredge Technologies Inc. 0.27% 15,700 $1.1M No change
PAYX Paychex Inc. 0.26% 8,590 $1.1M Reduce -4.5%
LHX L3HARRIS Technologies Inc. 0.24% 4,731 $1.0M New
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.24% 26,216 $994K Reduce -9.8%
ET Energy Transfer LP 0.23% 59,626 $938K Add +3.4%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.22% 3,577 $894K Add +4.9%
AFL Aflac Inc. 0.21% 10,160 $872K No change
DGS Wisdomtree Em Small Cap 0.20% 16,277 $828K Reduce -1.5%
HON Honeywell International Inc. 0.19% 3,885 $797K Add +3.7%
RSP Invesco S&P 500 Equal Weight 0.19% 4,587 $777K Add +39.5%
AMLP Alerian MLP ETF 0.18% 16,003 $760K Add +0.7%
DHR Danaher Corp. 0.18% 2,992 $747K No change
MCHP Microchip Technology Inc. 0.18% 8,154 $731K New
TSCO Tractor Supply Company 0.17% 2,669 $699K Add +20.0%
IYR iShares US Real Estate ETF 0.16% 7,448 $670K Reduce -6.0%
RTX RTX Corp. 0.15% 6,380 $622K Add +20.8%
PEP Pepsico Inc. 0.15% 3,543 $620K No change
VIG Vanguard Dividend Apprec ETF 0.15% 3,344 $611K Reduce -2.1%
VYM Vanguard High DVD Yield ETF 0.15% 5,021 $607K No change
TSLA Tesla Inc. 0.14% 3,247 $571K Add +32.1%
ABT Abbott Laboratories 0.14% 4,983 $566K No change
AXP American Express Co. 0.14% 2,461 $560K No change
PWB Invesco Large Cap Growth ETF 0.13% 6,118 $546K Reduce -12.0%
NXPI NXP Semiconductors NV 0.13% 2,151 $533K New
BTT BlackRock 2030 Muni TRGT TRM 0.12% 22,750 $479K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.11% 4,440 $450K New
DGRW Wisdomtree U.S. Quality Divi 0.11% 5,898 $449K Add +5.6%
PG The Procter & Gamble Co. 0.11% 2,716 $441K No change
TD Toronto-Dominion Bank 0.10% 6,942 $419K No change
UNP Union Pacific Corp. 0.10% 1,655 $407K No change
PAA Plains All Amer Pipeline LP 0.09% 22,036 $387K Add +3.7%
XYZ Block Inc. 0.09% 4,564 $386K Reduce -16.0%
VZ Verizon Communications Inc. 0.09% 8,804 $369K Reduce -41.3%
LMT Lockheed Martin Corp. 0.09% 809 $368K Reduce -72.6%
CQP Cheniere Energy Partners LP 0.09% 7,295 $360K Add +3.5%
AZN Astrazeneca PLC-Spons ADR 0.09% 5,295 $359K Add +8.0%
NEE Nextera Energy Inc. 0.09% 5,567 $356K Reduce -62.0%
OKE Oneok Inc. 0.08% 4,319 $346K Add +4.6%
CARR Carrier Global Corp. 0.08% 5,900 $343K No change
MKC McCormick & Co.-Non VTG SHRS 0.08% 4,430 $340K No change
PLD Prologis Inc. 0.08% 2,439 $318K Reduce -5.6%
XBI SS SPDR S&P Biotech ETF 0.07% 3,243 $308K No change
AMJ JPMorgan Alerian MLP Index 0.07% 10,789 $307K No change
SDY SS SPDR S&P Dividend ETF 0.07% 2,335 $306K No change
DKNG Draftkings Inc. Class A 0.07% 6,718 $305K No change
VOO Vanguard S&P 500 ETF 0.07% 571 $274K Add +10.0%
INTC Intel Corp. 0.07% 6,160 $272K No change
MUB iShares National Muni Bond E 0.06% 2,474 $266K Add +7.5%
PSX Phillips 66 0.06% 1,493 $244K New
VB Vanguard Most SM-Cap ETF-Usd 0.06% 1,055 $241K No change
VCSH Vanguard S/T Corp. Bond ETF 0.06% 3,116 $241K Add +12.7%
WSM Williams-Sonoma Inc. 0.06% 755 $240K New
ARKK ARK Innovation ETF 0.06% 4,647 $233K Reduce -1.0%
GS Goldman Sachs Group Inc. 0.05% 537 $224K No change
HDV iShares Core High Dividend E 0.05% 2,017 $222K Reduce -19.4%
IJH iShares Core S&P Midcap ETF 0.05% 3,640 $221K No change
GCC Wisdomtree Enhanced Commodit 0.05% 11,850 $218K Add +2.4%
SCHD Schwab US DVD Equity ETF 0.05% 2,654 $214K New
BMY Bristol-Myers Squibb Co. 0.05% 3,857 $209K Reduce -77.1%
MMM 3M Co. 0.05% 1,905 $202K No change
PFE Pfizer Inc. 0.05% 7,262 $202K Add +0.7%
BYM BlackRock Muni Inc. QLTY 0.05% 16,425 $191K Reduce -4.6%

Options reported separately and not counted above: CMG puts ($74.1M), AVGO puts ($43.1M), CMG calls ($24.7M), SPY puts ($22.2M), REGN puts ($15.4M), NOW puts ($15.2M), SNPS calls ($1.7M), AMZN calls ($722K), ENPH puts ($472K), GOOG calls ($305K).

Portfolio Sells Q4 2023 → Q1 2024
AAPL Apple Inc. Reduce -1.4% 4.10% −1.25
ROK Rockwell Automation Inc. Sold out 0.00% −1.02
BA The Boeing Co. Sold out 0.00% −0.99
EOG EOG Resources Inc. Sold out 0.00% −0.43
SHOP Shopify Inc. Class A Reduce -0.6% 1.97% −0.32
LMT Lockheed Martin Corp. Reduce -72.6% 0.09% −0.28
CSCO Cisco Systems Inc. Sold out 0.00% −0.22
LNG Cheniere Energy Inc. Reduce -0.2% 0.97% −0.21
BMY Bristol-Myers Squibb Co. Reduce -77.1% 0.05% −0.19
NEE Nextera Energy Inc. Reduce -62.0% 0.09% −0.16
GOOGL Alphabet Inc. Class A Reduce -1.2% 2.19% −0.16
ILMN Illumina Inc. Sold out 0.00% −0.13
JNJ Johnson & Johnson Reduce -2.0% 0.75% −0.12
SPGI S&P Global Inc. Sold out 0.00% −0.11
KOF Coca-Cola Femsa Sab-SP ADR Sold out 0.00% −0.10
BX Blackstone Inc. Reduce -2.5% 0.56% −0.10
REGN Regeneron Pharmaceuticals Reduce -0.2% 1.49% −0.07
VZ Verizon Communications Inc. Reduce -41.3% 0.09% −0.07
MPWR Monolithic Power Systems Inc. Sold out 0.00% −0.06
SO The Southern Co. Sold out 0.00% −0.06
GOOG Alphabet Inc. Class C Reduce -1.0% 0.60% −0.04
PAYX Paychex Inc. Reduce -4.5% 0.26% −0.04
IYR iShares US Real Estate ETF Reduce -6.0% 0.16% −0.04
VTV Vanguard Mrngstr Val ETF-Aui Reduce -1.8% 0.49% −0.04
TMO Thermo Fisher Scientific Inc. Reduce -3.5% 0.37% −0.03
BAC Bank of America Corp. Reduce -9.8% 0.24% −0.03
DGS Wisdomtree Em Small Cap Reduce -1.5% 0.20% −0.03
XYZ Block Inc. Reduce -16.0% 0.09% −0.02
VUG Vanguard Mrngstar GR ETF-Sui Reduce -1.9% 0.42% −0.02
NEW AMERICA HIGH INCOME FUND Sold out 0.00% −0.02
PLD Prologis Inc. Reduce -5.6% 0.08% −0.02
PWB Invesco Large Cap Growth ETF Reduce -12.0% 0.13% −0.02
HDV iShares Core High Dividend E Reduce -19.4% 0.05% −0.02
VIG Vanguard Dividend Apprec ETF Reduce -2.1% 0.15% −0.01
ARKK ARK Innovation ETF Reduce -1.0% 0.06% −0.01
BYM BlackRock Muni Inc. QLTY Reduce -4.6% 0.05% −0.01
QCOM Qualcomm Inc. Reduce -0.0% 1.85% +0.04
NFLX Netflix Inc. Reduce -0.1% 0.84% +0.07
MRK Merck & Co. Inc. Reduce -1.6% 1.92% +0.07
PWR Quanta Services Inc. Reduce -0.3% 1.66% +0.08
FANG Diamondback Energy Inc. Reduce -1.3% 0.91% +0.08
AMZN Amazon.com Inc. Reduce -0.6% 3.95% +0.12
DECK Deckers Outdoor Corp. Reduce -1.3% 1.48% +0.26

Portfolio Buys Q4 2023 → Q1 2024
NVDA Nvidia Corp. Add +0.3% 7.12% +2.66
META Meta Platforms Inc. Class A Add +105.7% 2.31% +1.37
HWM Howmet Aerospace Inc. New 0.83% +0.83
LLY Eli Lilly & Co. Add +0.4% 2.27% +0.33
LHX L3HARRIS Technologies Inc. New 0.24% +0.24
ASML ASML Holding NV-NY Reg SHS Add +0.2% 1.93% +0.21
MCHP Microchip Technology Inc. New 0.18% +0.18
TTD Trade Desk Inc./the Class A Add +0.1% 2.94% +0.17
AMD Advanced Micro Devices Add +1.0% 2.00% +0.15
NXPI NXP Semiconductors NV New 0.13% +0.13
CMG Chipotle Mexican Grill Inc. Add +0.6% 1.23% +0.13
AVGO Broadcom Inc. Add +1.6% 2.39% +0.12
ANET Arista Networks Inc. Add +0.5% 1.51% +0.11
TJX TJX Companies Inc. New 0.11% +0.11
JPM JPMorgan Chase & Co. Add +4.1% 1.48% +0.10
UBER Uber Technologies Inc. Add +0.3% 0.99% +0.09
ABBV Abbvie Inc. Add +5.0% 1.14% +0.08
VLO Valero Energy Corp. Add +0.4% 0.61% +0.08
KLAC KLA Corp. Add +1.8% 1.21% +0.08
PTY PIMCO Corporate & Income Opp Add +37.5% 0.29% +0.08
TDG Transdigm Group Inc. Add +0.1% 1.23% +0.07
SPY SS SPDR S&P 500 ETF Trust-US Add +9.8% 1.34% +0.07
ETN Eaton Corp. PLC Add +8.2% 0.37% +0.07
PSX Phillips 66 New 0.06% +0.06
WSM Williams-Sonoma Inc. New 0.06% +0.06
SCHD Schwab US DVD Equity ETF New 0.05% +0.05
ISRG Intuitive Surgical Inc. Add +1.1% 1.06% +0.04
RSP Invesco S&P 500 Equal Weight Add +39.5% 0.19% +0.04
WM Waste Management Inc. Add +2.1% 0.71% +0.04
TSCO Tractor Supply Company Add +20.0% 0.17% +0.04
VTI VG Morningstar TS MKT ETF-US Add +17.4% 0.31% +0.03
CAT Caterpillar Inc. Add +1.5% 0.32% +0.03
RTX RTX Corp. Add +20.8% 0.15% +0.03
FAST Fastenal Co. Add +4.5% 0.33% +0.03
SNPS Synopsys Inc. Add +4.3% 1.76% +0.02
ET Energy Transfer LP Add +3.4% 0.23% +0.01
HD Home Depot Inc. Add +4.4% 0.61% +0.01
PAA Plains All Amer Pipeline LP Add +3.7% 0.09% +0.00
VOO Vanguard S&P 500 ETF Add +10.0% 0.07% +0.00
OKE Oneok Inc. Add +4.6% 0.08% +0.00
DGRW Wisdomtree U.S. Quality Divi Add +5.6% 0.11% −0.00
VCSH Vanguard S/T Corp. Bond ETF Add +12.7% 0.06% −0.00
GCC Wisdomtree Enhanced Commodit Add +2.4% 0.05% −0.00
AMLP Alerian MLP ETF Add +0.7% 0.18% −0.00
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +4.9% 0.22% −0.00
AZN Astrazeneca PLC-Spons ADR Add +8.0% 0.09% −0.00
MUB iShares National Muni Bond E Add +7.5% 0.06% −0.00
EPD Enterprise Products Partners Add +2.1% 0.48% −0.01
PFE Pfizer Inc. Add +0.7% 0.05% −0.01
TXN Texas Instruments Inc. Add +9.2% 0.36% −0.01

Options Activity Q4 2023 → Q1 2024
CMG Chipotle Mexican Grill Inc. put Reduce -32.9% 25,500 $74.1M
AVGO Broadcom Inc. put Add +62.5% 32,500 $43.1M
CMG Chipotle Mexican Grill Inc. call Reduce -39.3% 8,500 $24.7M
SPY SS SPDR S&P 500 ETF Trust-US put New 42,500 $22.2M
LLY Eli Lilly & Co. put Sold out 11,500 $6.7Mbefore exit
KLAC KLA Corp. put Sold out 9,000 $5.2Mbefore exit
KLAC KLA Corp. call Sold out 4,500 $2.6Mbefore exit
SNPS Synopsys Inc. put Sold out 5,000 $2.6Mbefore exit
NOW ServiceNow Inc. call Sold out 3,000 $2.1Mbefore exit
SNPS Synopsys Inc. call Reduce -40.0% 3,000 $1.7M
NVDA Nvidia Corp. call Sold out 3,000 $1.5Mbefore exit
NVDA Nvidia Corp. put Sold out 2,600 $1.3Mbefore exit
AMD Advanced Micro Devices put Sold out 5,000 $737Kbefore exit
AMD Advanced Micro Devices call Sold out 5,000 $737Kbefore exit
AMZN Amazon.com Inc. call Reduce -20.0% 4,000 $722K
GOOG Alphabet Inc. Class C call Reduce -50.0% 2,000 $305K

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 145$562.1MNVDA, MSFT, AAPL, KLAC, AVGO
Q1 2026 141$487.8MNVDA, MSFT, AAPL, AVGO, AMZN
Q4 2025 140$518.9MNVDA, MSFT, AVGO, AAPL, AMZN
Q3 2025 141$529.7MNVDA, MSFT, AVGO, AAPL, AMZN
Q2 2025 140$486.6MNVDA, MSFT, AVGO, AAPL, AMZN
Q1 2025 134$397.7MNVDA, MSFT, AAPL, AMZN, AVGO
Q4 2024 136$450.8MNVDA, MSFT, AAPL, AMZN, AVGO
Q3 2024 141$451.0MNVDA, MSFT, AAPL, AMZN, TTD
Q2 2024 142$444.8MNVDA, MSFT, AAPL, AMZN, TTD
Q1 2024 134$411.7MMSFT, NVDA, AAPL, AMZN, TTD