Covenant Asset Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 30, 2025), Covenant Asset Management, LLC reported 136 stock positions worth $450.8 million. Its top holding was Nvidia (NVDA) at 8.5% of the portfolio, followed by Microsoft (MSFT, 6.5%) and Apple (AAPL, 5.2%). Compared with Q3 2024, it opened 8 new positions, sold out of 13, added to 17 and reduced 88. The biggest buy was a new position in Stryker (SYK) and the biggest sale Regeneron Pharmaceuticals (REGN, shares −86%).
- Most Recent 13F
- Q2 2026
- Location
- CHESTER, NJ
- CIK
- 0001697717
- Portfolio Value
- $450.8M (Q4 2024)
- SEC Filing
- 0001697717-25-000002 ↗ filed Jan 30, 2025
Holdings Value
Holdings 136 stocks · $450.8M
| NVDA Nvidia Corp. | 8.49% | 285,031 | $38.3M | Reduce -5.1% |
| MSFT Microsoft Corp. | 6.53% | 69,878 | $29.5M | Reduce -3.7% |
| AAPL Apple Inc. | 5.19% | 93,427 | $23.4M | Reduce -8.6% |
| AMZN Amazon.com Inc. | 3.98% | 81,738 | $17.9M | Reduce -0.9% |
| AVGO Broadcom Inc. | 3.64% | 70,697 | $16.4M | Reduce -3.5% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 3.46% | 132,654 | $15.6M | Reduce -2.2% |
| ANET Arista Networks Inc. | 2.47% | 100,613 | $11.1M | Add +8.7% |
| META Meta Platforms Inc. Class A | 2.42% | 18,619 | $10.9M | Reduce -7.6% |
| GOOGL Alphabet Inc. Class A | 2.31% | 54,931 | $10.4M | Reduce -6.6% |
| SHOP Shopify Inc. Class A | 2.26% | 95,678 | $10.2M | Reduce -3.5% |
| NFLX Netflix Inc. | 2.05% | 10,386 | $9.3M | Reduce -0.6% |
| PANW Palo Alto Networks Inc. | 2.05% | 50,855 | $9.3M | Reduce -1.1% |
| LLY Eli Lilly & Co. | 1.98% | 11,548 | $8.9M | Reduce -3.6% |
| PWR Quanta Services Inc. | 1.80% | 25,659 | $8.1M | Reduce -2.3% |
| NOW ServiceNow Inc. | 1.68% | 7,159 | $7.6M | Reduce -1.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.44% | 11,089 | $6.5M | Add +1.9% |
| JPM JPMorgan Chase & Co. | 1.42% | 26,614 | $6.4M | Reduce -8.8% |
| QCOM Qualcomm Inc. | 1.32% | 38,613 | $5.9M | Reduce -4.4% |
| SNPS Synopsys Inc. | 1.31% | 12,148 | $5.9M | Reduce -2.6% |
| MRK Merck & Co. Inc. | 1.28% | 57,843 | $5.8M | Reduce -3.5% |
| ISRG Intuitive Surgical Inc. | 1.26% | 10,907 | $5.7M | Reduce -1.6% |
| ASML ASML Holding NV-NY Reg SHS | 1.26% | 8,177 | $5.7M | Add +1.1% |
| HWM Howmet Aerospace Inc. | 1.18% | 48,692 | $5.3M | Reduce -2.2% |
| ADP Automatic Data Processing | 1.16% | 17,915 | $5.2M | Reduce -3.0% |
| LNG Cheniere Energy Inc. | 1.15% | 24,070 | $5.2M | Reduce -0.7% |
| CMG Chipotle Mexican Grill Inc. | 1.13% | 84,836 | $5.1M | Reduce -1.9% |
| AMD Advanced Micro Devices | 1.13% | 42,108 | $5.1M | Reduce -25.4% |
| VRTX Vertex Pharmaceuticals Inc. | 1.13% | 12,627 | $5.1M | Reduce -1.1% |
| TDG Transdigm Group Inc. | 1.11% | 3,931 | $5.0M | Reduce -4.4% |
| ARM Arm Holdings PLC-ADR | 1.06% | 38,866 | $4.8M | Add +20.3% |
| KLAC KLA Corp. | 1.00% | 7,136 | $4.5M | Reduce -1.3% |
| JEF Jefferies Financial Group Inc. | 0.93% | 53,539 | $4.2M | Reduce -1.3% |
| ABBV Abbvie Inc. | 0.93% | 23,494 | $4.2M | Reduce -5.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.92% | 8,099 | $4.1M | Reduce -3.3% |
| SPOT Spotify Technology SA | 0.91% | 9,142 | $4.1M | Add +0.1% |
| DECK Deckers Outdoor Corp. | 0.90% | 20,001 | $4.1M | Reduce -1.7% |
| COST Costco Wholesale Corp. | 0.87% | 4,283 | $3.9M | Reduce -7.5% |
| UNH Unitedhealth Group Inc. | 0.87% | 7,733 | $3.9M | Reduce -3.5% |
| SYK Stryker Corp. | 0.86% | 10,757 | $3.9M | New |
| TSM Taiwan Semiconductor-SP ADR | 0.81% | 18,600 | $3.7M | New |
| TW Tradeweb Markets Inc. Class A | 0.77% | 26,381 | $3.5M | Reduce -1.3% |
| BSX Boston Scientific Corp. | 0.76% | 38,120 | $3.4M | New |
| UBER Uber Technologies Inc. | 0.72% | 53,868 | $3.2M | Add +0.4% |
| ODFL Old Dominion Freight Line | 0.70% | 17,850 | $3.1M | Reduce -0.1% |
| GOOG Alphabet Inc. Class C | 0.68% | 16,180 | $3.1M | No change |
| BLK BlackRock Inc. | 0.62% | 2,731 | $2.8M | Reduce -2.0% |
| ELF Elf Beauty Inc. | 0.59% | 21,263 | $2.7M | Reduce -7.2% |
| INTU Intuit Inc. | 0.59% | 4,197 | $2.6M | Reduce -1.2% |
| WM Waste Management Inc. | 0.58% | 12,989 | $2.6M | Reduce -2.0% |
| BX Blackstone Inc. | 0.56% | 14,641 | $2.5M | Reduce -5.8% |
| HD Home Depot Inc. | 0.54% | 6,240 | $2.4M | Reduce -14.2% |
| ORCL Oracle Corp. | 0.54% | 14,535 | $2.4M | Reduce -21.5% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.52% | 5,706 | $2.3M | Add +2.2% |
| JNJ Johnson & Johnson | 0.50% | 15,476 | $2.2M | Reduce -7.3% |
| MS Morgan Stanley | 0.49% | 17,688 | $2.2M | Reduce -8.4% |
| V Visa Inc. Class A | 0.47% | 6,719 | $2.1M | Reduce -8.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.43% | 11,467 | $1.9M | Reduce -0.3% |
| EPD Enterprise Products Partners | 0.41% | 58,646 | $1.8M | Reduce -7.8% |
| VNQ Vanguard Real Estate ETF | 0.39% | 19,644 | $1.7M | Add +5.5% |
| AMLP Alerian MLP ETF | 0.37% | 34,636 | $1.7M | Add +121.6% |
| HYT BlackRock Corp. Hi YLD | 0.36% | 166,898 | $1.6M | Add +5.0% |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.36% | 5,550 | $1.6M | New |
| TXN Texas Instruments Inc. | 0.35% | 8,405 | $1.6M | Reduce -0.2% |
| ETN Eaton Corp. PLC | 0.35% | 4,741 | $1.6M | Reduce -4.5% |
| VLO Valero Energy Corp. | 0.34% | 12,421 | $1.5M | Reduce -6.2% |
| APD Air Products & Chemicals Inc. | 0.33% | 5,130 | $1.5M | Reduce -0.9% |
| CVX Chevron Corp. | 0.33% | 10,248 | $1.5M | Reduce -7.8% |
| PTY PIMCO Corporate & Income Opp | 0.33% | 102,368 | $1.5M | Add +1.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.32% | 5,050 | $1.5M | Reduce -2.7% |
| TMO Thermo Fisher Scientific Inc. | 0.30% | 2,617 | $1.4M | No change |
| AMGN Amgen Inc. | 0.26% | 4,539 | $1.2M | Reduce -13.6% |
| COIN Coinbase Global Inc. Class A | 0.26% | 4,630 | $1.1M | Reduce -14.7% |
| FAST Fastenal Co. | 0.25% | 15,959 | $1.1M | Reduce -4.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.23% | 23,940 | $1.1M | Reduce -6.3% |
| AFL Aflac Inc. | 0.23% | 10,160 | $1.1M | No change |
| CAT Caterpillar Inc. | 0.23% | 2,875 | $1.0M | Reduce -0.7% |
| ADBE Adobe Inc. | 0.23% | 2,338 | $1.0M | Reduce -0.1% |
| PAYX Paychex Inc. | 0.22% | 7,181 | $1.0M | No change |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.22% | 3,686 | $974K | Reduce -3.8% |
| RSP Invesco S&P 500 Equal Weight | 0.21% | 5,457 | $956K | Add +1.6% |
| SBUX Starbucks Corp. | 0.21% | 10,176 | $929K | Reduce -10.5% |
| LHX L3HARRIS Technologies Inc. | 0.20% | 4,252 | $894K | Reduce -4.9% |
| TSLA Tesla Inc. | 0.20% | 2,206 | $891K | Add +71.3% |
| HON Honeywell International Inc. | 0.19% | 3,845 | $869K | Reduce -2.4% |
| DGS Wisdomtree Em Small Cap | 0.17% | 15,437 | $755K | No change |
| RTX RTX Corp. | 0.16% | 6,380 | $738K | No change |
| DHR Danaher Corp. | 0.15% | 2,992 | $687K | No change |
| AXP American Express Co. | 0.15% | 2,261 | $671K | No change |
| IYR iShares US Real Estate ETF | 0.15% | 7,187 | $669K | Reduce -0.7% |
| REGN Regeneron Pharmaceuticals | 0.14% | 898 | $640K | Reduce -85.8% |
| VYM Vanguard High DVD Yield ETF | 0.14% | 4,981 | $636K | Reduce -0.1% |
| PWB Invesco Large Cap Growth ETF | 0.14% | 6,062 | $617K | Reduce -0.9% |
| TSCO Tractor Supply Company | 0.14% | 11,585 | $615K | Reduce -9.0% |
| ET Energy Transfer LP | 0.14% | 31,360 | $614K | Reduce -42.9% |
| ABT Abbott Laboratories | 0.13% | 4,983 | $564K | No change |
| PEP Pepsico Inc. | 0.12% | 3,543 | $539K | Reduce -5.3% |
| VIG Vanguard Dividend Apprec ETF | 0.12% | 2,717 | $532K | Add +4.8% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.12% | 4,363 | $527K | Reduce -8.3% |
| URI United Rentals Inc. | 0.11% | 700 | $493K | New |
| DGRW Wisdomtree U.S. Quality Divi | 0.11% | 6,009 | $486K | Add +1.3% |
Options reported separately and not counted above: CMG puts ($54.3M), AVGO puts ($46.4M), NOW puts ($38.2M), TDG puts ($6.3M), ASML puts ($5.2M), BLK puts ($5.1M), KLAC calls ($4.7M), KLAC puts ($4.7M), COST puts ($4.6M), NFLX puts ($4.5M), SNPS puts ($4.4M), LLY puts ($3.9M), and 17 more.
Portfolio Sells Q3 2024 → Q4 2024
| REGN Regeneron Pharmaceuticals | Reduce -85.8% | 0.14% | −1.34 |
| AMD Advanced Micro Devices | Reduce -25.4% | 1.13% | −0.93 |
| FANG Diamondback Energy Inc. | Sold out | 0.00% | −0.72 |
| MSFT Microsoft Corp. | Reduce -3.7% | 6.53% | −0.39 |
| LLY Eli Lilly & Co. | Reduce -3.6% | 1.98% | −0.38 |
| KLAC KLA Corp. | Reduce -1.3% | 1.00% | −0.24 |
| MRK Merck & Co. Inc. | Reduce -3.5% | 1.28% | −0.23 |
| QCOM Qualcomm Inc. | Reduce -4.4% | 1.32% | −0.21 |
| TDG Transdigm Group Inc. | Reduce -4.4% | 1.11% | −0.20 |
| GSLC Goldman Activebeta US LC ETF | Sold out | 0.00% | −0.19 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -1.1% | 1.13% | −0.19 |
| UNH Unitedhealth Group Inc. | Reduce -3.5% | 0.87% | −0.17 |
| SEDG Solaredge Technologies Inc. | Reduce -39.2% | 0.10% | −0.17 |
| ORCL Oracle Corp. | Reduce -21.5% | 0.54% | −0.16 |
| ABBV Abbvie Inc. | Reduce -5.2% | 0.93% | −0.16 |
| SDY SS SPDR S&P Dividend ETF | Reduce -68.0% | 0.06% | −0.15 |
| SPLV Invesco S&P 500 Low Volatili | Sold out | 0.00% | −0.14 |
| META Meta Platforms Inc. Class A | Reduce -7.6% | 2.42% | −0.14 |
| FVD First Trust Value Line DVD | Sold out | 0.00% | −0.14 |
| HD Home Depot Inc. | Reduce -14.2% | 0.54% | −0.12 |
| AMGN Amgen Inc. | Reduce -13.6% | 0.26% | −0.11 |
| NXPI NXP Semiconductors NV | Sold out | 0.00% | −0.11 |
| JNJ Johnson & Johnson | Reduce -7.3% | 0.50% | −0.10 |
| SNPS Synopsys Inc. | Reduce -2.6% | 1.31% | −0.09 |
| AAPL Apple Inc. | Reduce -8.6% | 5.19% | −0.09 |
| ODFL Old Dominion Freight Line | Reduce -0.1% | 0.70% | −0.09 |
| MPWR Monolithic Power Systems Inc. | Reduce -33.6% | 0.06% | −0.09 |
| IWF iShares Russell 1000 Growth | Sold out | 0.00% | −0.08 |
| JHMM John Hancock Multi Fact Mid | Sold out | 0.00% | −0.08 |
| PAA Plains All Amer Pipeline LP | Sold out | 0.00% | −0.08 |
| VOO Vanguard S&P 500 ETF | Reduce -46.7% | 0.07% | −0.06 |
| ET Energy Transfer LP | Reduce -42.9% | 0.14% | −0.06 |
| VLO Valero Energy Corp. | Reduce -6.2% | 0.34% | −0.06 |
| RDVY First Trust Rising Dividend | Sold out | 0.00% | −0.06 |
| VONG Vanguard Russell 1000 Growth | Sold out | 0.00% | −0.05 |
| ARKK ARK Innovation ETF | Sold out | 0.00% | −0.05 |
| KNG FT Vest S&P 500 DVD Arst TRG | Sold out | 0.00% | −0.05 |
| SDVY First Trust Smid Cap Rising | Sold out | 0.00% | −0.05 |
| COST Costco Wholesale Corp. | Reduce -7.5% | 0.87% | −0.04 |
| SBUX Starbucks Corp. | Reduce -10.5% | 0.21% | −0.04 |
| ADBE Adobe Inc. | Reduce -0.1% | 0.23% | −0.04 |
| LHX L3HARRIS Technologies Inc. | Reduce -4.9% | 0.20% | −0.04 |
| BYM BlackRock Muni Inc. QLTY | Reduce -51.0% | 0.03% | −0.04 |
| TXN Texas Instruments Inc. | Reduce -0.2% | 0.35% | −0.04 |
| VZ Verizon Communications Inc. | Reduce -35.0% | 0.05% | −0.03 |
| CVX Chevron Corp. | Reduce -7.8% | 0.33% | −0.03 |
| WM Waste Management Inc. | Reduce -2.0% | 0.58% | −0.03 |
| TSCO Tractor Supply Company | Reduce -9.0% | 0.14% | −0.03 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -14.1% | 0.06% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -15.6% | 0.10% | −0.02 |
Portfolio Buys Q3 2024 → Q4 2024
| SYK Stryker Corp. | New | 0.86% | +0.86 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.81% | +0.81 |
| BSX Boston Scientific Corp. | New | 0.76% | +0.76 |
| ANET Arista Networks Inc. | Add +8.7% | 2.47% | +0.50 |
| MSTR Strategy Inc. | New | 0.36% | +0.36 |
| AMLP Alerian MLP ETF | Add +121.6% | 0.37% | +0.21 |
| SPOT Spotify Technology SA | Add +0.1% | 0.91% | +0.16 |
| TSLA Tesla Inc. | Add +71.3% | 0.20% | +0.12 |
| URI United Rentals Inc. | New | 0.11% | +0.11 |
| ALAB Astera Labs Inc. | New | 0.09% | +0.09 |
| BMY Bristol-Myers Squibb Co. | New | 0.06% | +0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +1.9% | 1.44% | +0.06 |
| PLTR Palantir Technologies Inc. Class A | New | 0.04% | +0.04 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +2.2% | 0.52% | +0.04 |
| ARM Arm Holdings PLC-ADR | Add +20.3% | 1.06% | +0.04 |
| MUB iShares National Muni Bond E | Add +51.7% | 0.09% | +0.03 |
| OKE Oneok Inc. | Add +6.3% | 0.10% | +0.02 |
| HYT BlackRock Corp. Hi YLD | Add +5.0% | 0.36% | +0.01 |
| PTY PIMCO Corporate & Income Opp | Add +1.6% | 0.33% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +4.8% | 0.12% | +0.00 |
| RSP Invesco S&P 500 Equal Weight | Add +1.6% | 0.21% | −0.00 |
| DGRW Wisdomtree U.S. Quality Divi | Add +1.3% | 0.11% | −0.00 |
| VNQ Vanguard Real Estate ETF | Add +5.5% | 0.39% | −0.01 |
| UBER Uber Technologies Inc. | Add +0.4% | 0.72% | −0.17 |
| ASML ASML Holding NV-NY Reg SHS | Add +1.1% | 1.26% | −0.24 |
Options Activity Q3 2024 → Q4 2024
| AVGO Broadcom Inc. | put | Reduce -4.8% | 200,000 | $46.4M |
| NOW ServiceNow Inc. | put | Add +44.0% | 36,000 | $38.2M |
| QQQ Invesco QQQ Trust Series 1 | put | Sold out | 25,000 | $12.2Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | put | Sold out | 12,500 | $7.2Mbefore exit |
| ASML ASML Holding NV-NY Reg SHS | put | Reduce -25.0% | 7,500 | $5.2M |
| BLK BlackRock Inc. | put | New | 5,000 | $5.1M |
| DECK Deckers Outdoor Corp. | put | Sold out | 30,000 | $4.8Mbefore exit |
| KLAC KLA Corp. | call | New | 7,500 | $4.7M |
| KLAC KLA Corp. | put | New | 7,500 | $4.7M |
| NFLX Netflix Inc. | put | New | 5,000 | $4.5M |
| SNPS Synopsys Inc. | put | New | 9,000 | $4.4M |
| REGN Regeneron Pharmaceuticals | put | Reduce -50.0% | 5,000 | $3.6M |
| META Meta Platforms Inc. Class A | put | New | 5,000 | $2.9M |
| NVDA Nvidia Corp. | put | Sold out | 20,000 | $2.4Mbefore exit |
| NVDA Nvidia Corp. | call | Reduce -63.4% | 17,000 | $2.3M |
| AVGO Broadcom Inc. | call | Sold out | 10,000 | $1.7Mbefore exit |
| ARM Arm Holdings PLC-ADR | put | New | 8,700 | $1.1M |
| NOW ServiceNow Inc. | call | New | 1,000 | $1.1M |
| SEDG Solaredge Technologies Inc. | call | Add +214.0% | 31,400 | $427K |
| MSFT Microsoft Corp. | put | New | 1,000 | $422K |
| MSFT Microsoft Corp. | call | New | 1,000 | $422K |
| ARM Arm Holdings PLC-ADR | call | New | 3,000 | $370K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 145 | $562.1M | NVDA, MSFT, AAPL, KLAC, AVGO |
| Q1 2026 | 141 | $487.8M | NVDA, MSFT, AAPL, AVGO, AMZN |
| Q4 2025 | 140 | $518.9M | NVDA, MSFT, AVGO, AAPL, AMZN |
| Q3 2025 | 141 | $529.7M | NVDA, MSFT, AVGO, AAPL, AMZN |
| Q2 2025 | 140 | $486.6M | NVDA, MSFT, AVGO, AAPL, AMZN |
| Q1 2025 | 134 | $397.7M | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q4 2024 | 136 | $450.8M | NVDA, MSFT, AAPL, AMZN, AVGO |
| Q3 2024 | 141 | $451.0M | NVDA, MSFT, AAPL, AMZN, TTD |
| Q2 2024 | 142 | $444.8M | NVDA, MSFT, AAPL, AMZN, TTD |
| Q1 2024 | 134 | $411.7M | MSFT, NVDA, AAPL, AMZN, TTD |