Covenant Asset Management, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 17, 2025), Covenant Asset Management, LLC reported 140 stock positions worth $486.6 million. Its top holding was Nvidia (NVDA) at 8.4% of the portfolio, followed by Microsoft (MSFT, 6.9%) and Broadcom (AVGO, 4.2%). Compared with Q1 2025, it opened 13 new positions, sold out of 7, added to 53 and reduced 45. The biggest buy was Nvidia (NVDA, shares +3%) and the biggest sale Apple (AAPL, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- CHESTER, NJ
- CIK
- 0001697717
- Portfolio Value
- $486.6M (Q2 2025)
- SEC Filing
- 0001697717-25-000007 ↗ filed Jul 17, 2025
Holdings Value
Holdings 140 stocks · $486.6M
| NVDA Nvidia Corp. | 8.37% | 257,838 | $40.7M | Add +3.2% |
| MSFT Microsoft Corp. | 6.95% | 67,974 | $33.8M | Add +0.4% |
| AVGO Broadcom Inc. | 4.16% | 73,516 | $20.3M | Add +3.1% |
| AAPL Apple Inc. | 3.67% | 86,941 | $17.8M | Reduce -6.2% |
| AMZN Amazon.com Inc. | 3.62% | 80,335 | $17.6M | Add +0.1% |
| NFLX Netflix Inc. | 2.99% | 10,847 | $14.5M | Add +3.8% |
| META Meta Platforms Inc. Class A | 2.95% | 19,425 | $14.3M | Add +3.9% |
| SHOP Shopify Inc. Class A | 2.31% | 97,556 | $11.3M | Add +1.2% |
| PANW Palo Alto Networks Inc. | 2.14% | 50,965 | $10.4M | Add +0.4% |
| PWR Quanta Services Inc. | 1.98% | 25,426 | $9.6M | Reduce -1.1% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 1.97% | 132,954 | $9.6M | Reduce -0.6% |
| HWM Howmet Aerospace Inc. | 1.84% | 48,137 | $9.0M | Reduce -0.3% |
| ANET Arista Networks Inc. | 1.78% | 84,549 | $8.7M | Reduce -0.6% |
| GEV GE Vernova Inc. | 1.78% | 16,342 | $8.6M | Add +76.9% |
| HOOD Robinhood Markets Inc. Class A | 1.74% | 90,201 | $8.4M | Add +2.7% |
| NOW ServiceNow Inc. | 1.65% | 7,786 | $8.0M | Add +4.2% |
| JPM JPMorgan Chase & Co. | 1.57% | 26,425 | $7.7M | Add +1.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.55% | 12,208 | $7.5M | Add +3.6% |
| SPOT Spotify Technology SA | 1.49% | 9,462 | $7.3M | Add +1.9% |
| LLY Eli Lilly & Co. | 1.40% | 8,753 | $6.8M | Add +1.4% |
| ASML ASML Holding NV-NY Reg SHS | 1.36% | 8,252 | $6.6M | Reduce -0.6% |
| KLAC KLA Corp. | 1.35% | 7,359 | $6.6M | Add +2.2% |
| GOOGL Alphabet Inc. Class A | 1.33% | 36,773 | $6.5M | Reduce -33.7% |
| MELI MercadoLibre Inc. | 1.33% | 2,475 | $6.5M | New |
| QCOM Qualcomm Inc. | 1.23% | 37,575 | $6.0M | Reduce -1.3% |
| ISRG Intuitive Surgical Inc. | 1.23% | 11,010 | $6.0M | Add +0.7% |
| TDG Transdigm Group Inc. | 1.22% | 3,916 | $6.0M | Add +0.2% |
| LNG Cheniere Energy Inc. | 1.22% | 24,297 | $5.9M | Add +0.7% |
| ADP Automatic Data Processing | 1.11% | 17,555 | $5.4M | Add +0.3% |
| VRTX Vertex Pharmaceuticals Inc. | 1.11% | 12,155 | $5.4M | Reduce -3.1% |
| ARM Arm Holdings PLC-ADR | 1.09% | 32,827 | $5.3M | Reduce -9.6% |
| COF Capital One Financial Corp. | 1.08% | 24,653 | $5.2M | Add +3.5% |
| UBER Uber Technologies Inc. | 1.05% | 54,654 | $5.1M | Add +0.7% |
| QQQ Invesco QQQ Trust Series 1 | 0.98% | 8,618 | $4.8M | Add +3.5% |
| AXP American Express Co. | 0.97% | 14,806 | $4.7M | Add +475.4% |
| MRK Merck & Co. Inc. | 0.91% | 55,932 | $4.4M | Reduce -1.0% |
| GS Goldman Sachs Group Inc. | 0.90% | 6,178 | $4.4M | Add +517.2% |
| BSX Boston Scientific Corp. | 0.88% | 39,759 | $4.3M | Add +2.7% |
| SYK Stryker Corp. | 0.88% | 10,772 | $4.3M | Reduce -1.3% |
| COST Costco Wholesale Corp. | 0.87% | 4,265 | $4.2M | Add +2.3% |
| ABBV Abbvie Inc. | 0.84% | 21,922 | $4.1M | Reduce -0.9% |
| GE General Electric filed as GE AEROSPACE | 0.82% | 15,583 | $4.0M | New |
| HQY Healthequity Inc. | 0.80% | 37,157 | $3.9M | Reduce -2.0% |
| SF Stifel Financial Corp. | 0.65% | 30,376 | $3.2M | New |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.64% | 7,055 | $3.1M | Add +5.7% |
| WM Waste Management Inc. | 0.61% | 12,895 | $3.0M | Reduce -0.4% |
| ORCL Oracle Corp. | 0.60% | 13,431 | $2.9M | Reduce -0.2% |
| BLK BlackRock Inc. | 0.58% | 2,712 | $2.8M | Reduce -0.9% |
| GOOG Alphabet Inc. Class C | 0.55% | 15,160 | $2.7M | Reduce -6.3% |
| MS Morgan Stanley | 0.55% | 18,890 | $2.7M | Reduce -54.4% |
| V Visa Inc. Class A | 0.49% | 6,719 | $2.4M | No change |
| HD Home Depot Inc. | 0.48% | 6,355 | $2.3M | Add +1.8% |
| SE Sea Ltd.-ADR | 0.46% | 14,077 | $2.3M | New |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.46% | 5,500 | $2.2M | No change |
| TSLA Tesla Inc. | 0.45% | 6,948 | $2.2M | Add +79.3% |
| BX Blackstone Inc. | 0.45% | 14,718 | $2.2M | Add +2.2% |
| JNJ Johnson & Johnson | 0.44% | 13,997 | $2.1M | Reduce -1.9% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.39% | 10,771 | $1.9M | Reduce -2.3% |
| AMLP Alerian MLP ETF | 0.38% | 38,075 | $1.9M | Add +1.9% |
| RH RH | 0.38% | 9,700 | $1.8M | New |
| PLTR Palantir Technologies Inc. Class A | 0.37% | 13,155 | $1.8M | Add +228.1% |
| EPD Enterprise Products Partners | 0.36% | 56,741 | $1.8M | Reduce -1.1% |
| TXN Texas Instruments Inc. | 0.36% | 8,423 | $1.7M | Add +0.2% |
| ETN Eaton Corp. PLC | 0.36% | 4,879 | $1.7M | Add +3.5% |
| HYT BlackRock Corp. Hi YLD | 0.35% | 175,024 | $1.7M | Add +1.6% |
| VNQ Vanguard Real Estate ETF | 0.34% | 18,729 | $1.7M | Reduce -3.0% |
| COIN Coinbase Global Inc. Class A | 0.34% | 4,732 | $1.7M | Add +0.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.33% | 5,359 | $1.6M | Reduce -3.0% |
| PTY PIMCO Corporate & Income Opp | 0.32% | 111,597 | $1.6M | Add +1.2% |
| APD Air Products & Chemicals Inc. | 0.30% | 5,097 | $1.4M | Reduce -0.6% |
| FAST Fastenal Co. | 0.26% | 29,858 | $1.3M | Reduce -0.7% |
| RTX RTX Corp. | 0.25% | 8,390 | $1.2M | Add +31.5% |
| RSP Invesco S&P 500 Equal Weight | 0.25% | 6,650 | $1.2M | Add +5.5% |
| CVX Chevron Corp. | 0.24% | 8,002 | $1.1M | Reduce -0.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.23% | 23,895 | $1.1M | Reduce -0.2% |
| CFG Citizens Financial Group | 0.22% | 24,406 | $1.1M | Reduce -4.1% |
| AFL Aflac Inc. | 0.22% | 10,160 | $1.1M | No change |
| CAT Caterpillar Inc. | 0.22% | 2,750 | $1.1M | Reduce -3.9% |
| TMO Thermo Fisher Scientific Inc. | 0.22% | 2,617 | $1.1M | No change |
| PAYX Paychex Inc. | 0.20% | 6,846 | $996K | No change |
| AMGN Amgen Inc. | 0.20% | 3,539 | $988K | Reduce -10.6% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.20% | 3,502 | $980K | Add +0.8% |
| SBUX Starbucks Corp. | 0.20% | 10,628 | $974K | Add +4.4% |
| LHX L3HARRIS Technologies Inc. | 0.20% | 3,850 | $966K | Add +5.1% |
| HON Honeywell International Inc. | 0.18% | 3,786 | $882K | Reduce -0.9% |
| ADBE Adobe Inc. | 0.18% | 2,252 | $871K | Reduce -1.6% |
| DGS Wisdomtree Em Small Cap | 0.17% | 15,062 | $832K | Reduce -2.4% |
| PWB Invesco Large Cap Growth ETF | 0.15% | 6,034 | $709K | Reduce -0.1% |
| ABT Abbott Laboratories | 0.14% | 4,951 | $673K | Add +15.1% |
| IYR iShares US Real Estate ETF | 0.13% | 6,862 | $650K | Reduce -3.0% |
| ET Energy Transfer LP | 0.12% | 33,233 | $603K | Add +4.8% |
| VYM Vanguard High DVD Yield ETF | 0.12% | 4,461 | $595K | Reduce -3.5% |
| DHR Danaher Corp. | 0.12% | 2,940 | $581K | Reduce -0.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.12% | 4,534 | $560K | Add +10.3% |
| TSCO Tractor Supply Company | 0.11% | 10,490 | $554K | No change |
| VIG Vanguard Dividend Apprec ETF | 0.11% | 2,667 | $546K | Reduce -1.8% |
| SEDG Solaredge Technologies Inc. | 0.11% | 26,000 | $530K | Add +18.2% |
| DGRW Wisdomtree U.S. Quality Divi | 0.10% | 5,828 | $488K | Add +0.0% |
| PEP Pepsico Inc. | 0.10% | 3,543 | $468K | No change |
| MUB iShares National Muni Bond E | 0.09% | 3,974 | $415K | No change |
Options reported separately and not counted above: QQQ puts ($82.7M), BKNG puts ($57.9M), MELI puts ($31.4M), NVDA calls ($4.6M), AVGO calls ($3.6M), AVGO puts ($2.8M), AMZN calls ($2.0M), GOOGL calls ($1.2M), SHOP calls ($923K), SBUX calls ($916K), SEDG calls ($822K), JPM calls ($580K), and 3 more.
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -6.2% | 3.67% | −1.51 |
| TSM Taiwan Semiconductor-SP ADR | Sold out | 0.00% | −1.33 |
| CMG Chipotle Mexican Grill Inc. | Reduce -93.6% | 0.06% | −1.02 |
| KKR KKR & Co. Inc. | Reduce -93.8% | 0.05% | −0.87 |
| GOOGL Alphabet Inc. Class A | Reduce -33.7% | 1.33% | −0.82 |
| JEF Jefferies Financial Group Inc. | Sold out | 0.00% | −0.73 |
| MS Morgan Stanley | Reduce -54.4% | 0.55% | −0.67 |
| DECK Deckers Outdoor Corp. | Sold out | 0.00% | −0.58 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -3.1% | 1.11% | −0.42 |
| MRK Merck & Co. Inc. | Reduce -1.0% | 0.91% | −0.37 |
| ABBV Abbvie Inc. | Reduce -0.9% | 0.84% | −0.33 |
| QCOM Qualcomm Inc. | Reduce -1.3% | 1.23% | −0.24 |
| JNJ Johnson & Johnson | Reduce -1.9% | 0.44% | −0.16 |
| WM Waste Management Inc. | Reduce -0.4% | 0.61% | −0.15 |
| SYK Stryker Corp. | Reduce -1.3% | 0.88% | −0.15 |
| EPD Enterprise Products Partners | Reduce -1.1% | 0.36% | −0.13 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.13 |
| AMGN Amgen Inc. | Reduce -10.6% | 0.20% | −0.11 |
| CVX Chevron Corp. | Reduce -0.1% | 0.24% | −0.10 |
| VNQ Vanguard Real Estate ETF | Reduce -3.0% | 0.34% | −0.10 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -2.3% | 0.39% | −0.09 |
| APD Air Products & Chemicals Inc. | Reduce -0.6% | 0.30% | −0.08 |
| GOOG Alphabet Inc. Class C | Reduce -6.3% | 0.55% | −0.08 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.08 |
| BLK BlackRock Inc. | Reduce -0.9% | 0.58% | −0.07 |
| REGN Regeneron Pharmaceuticals | Sold out | 0.00% | −0.06 |
| XBI SS SPDR S&P Biotech ETF | Sold out | 0.00% | −0.05 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -3.0% | 0.33% | −0.05 |
| HQY Healthequity Inc. | Reduce -2.0% | 0.80% | −0.04 |
| ADBE Adobe Inc. | Reduce -1.6% | 0.18% | −0.04 |
| CFG Citizens Financial Group | Reduce -4.1% | 0.22% | −0.04 |
| IYR iShares US Real Estate ETF | Reduce -3.0% | 0.13% | −0.04 |
| PG The Procter & Gamble Co. | Reduce -19.6% | 0.06% | −0.04 |
| FAST Fastenal Co. | Reduce -0.7% | 0.26% | −0.04 |
| DHR Danaher Corp. | Reduce -0.7% | 0.12% | −0.03 |
| VYM Vanguard High DVD Yield ETF | Reduce -3.5% | 0.12% | −0.03 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -0.6% | 1.36% | −0.02 |
| HON Honeywell International Inc. | Reduce -0.9% | 0.18% | −0.02 |
| VIG Vanguard Dividend Apprec ETF | Reduce -1.8% | 0.11% | −0.02 |
| BAC Bank of America Corp. | Reduce -0.2% | 0.23% | −0.02 |
| CAT Caterpillar Inc. | Reduce -3.9% | 0.22% | −0.02 |
| PLD Prologis Inc. | Reduce -6.9% | 0.04% | −0.02 |
| DGS Wisdomtree Em Small Cap | Reduce -2.4% | 0.17% | −0.02 |
| TD Toronto-Dominion Bank | Reduce -4.0% | 0.08% | −0.00 |
| PWB Invesco Large Cap Growth ETF | Reduce -0.1% | 0.15% | −0.00 |
| MPWR Monolithic Power Systems Inc. | Reduce -0.7% | 0.07% | +0.00 |
| ARM Arm Holdings PLC-ADR | Reduce -9.6% | 1.09% | +0.12 |
| ANET Arista Networks Inc. | Reduce -0.6% | 1.78% | +0.12 |
| TTD Trade Desk Inc./the Class A | Reduce -0.6% | 1.97% | +0.13 |
| ORCL Oracle Corp. | Reduce -0.2% | 0.60% | +0.13 |
Portfolio Buys Q1 2025 → Q2 2025
| NVDA Nvidia Corp. | Add +3.2% | 8.37% | +1.56 |
| MELI MercadoLibre Inc. | New | 1.33% | +1.33 |
| AVGO Broadcom Inc. | Add +3.1% | 4.16% | +1.16 |
| GEV GE Vernova Inc. | Add +76.9% | 1.78% | +1.07 |
| GE General Electric | New | 0.82% | +0.82 |
| HOOD Robinhood Markets Inc. Class A | Add +2.7% | 1.74% | +0.82 |
| AXP American Express Co. | Add +475.4% | 0.97% | +0.80 |
| GS Goldman Sachs Group Inc. | Add +517.2% | 0.90% | +0.76 |
| SF Stifel Financial Corp. | New | 0.65% | +0.65 |
| MSFT Microsoft Corp. | Add +0.4% | 6.95% | +0.56 |
| NFLX Netflix Inc. | Add +3.8% | 2.99% | +0.54 |
| SE Sea Ltd.-ADR | New | 0.46% | +0.46 |
| RH RH | New | 0.38% | +0.38 |
| PLTR Palantir Technologies Inc. Class A | Add +228.1% | 0.37% | +0.28 |
| META Meta Platforms Inc. Class A | Add +3.9% | 2.95% | +0.24 |
| SPOT Spotify Technology SA | Add +1.9% | 1.49% | +0.21 |
| TSLA Tesla Inc. | Add +79.3% | 0.45% | +0.20 |
| NOW ServiceNow Inc. | Add +4.2% | 1.65% | +0.15 |
| COIN Coinbase Global Inc. Class A | Add +0.4% | 0.34% | +0.14 |
| KLAC KLA Corp. | Add +2.2% | 1.35% | +0.12 |
| CRCL Circle Internet Group Inc. | New | 0.07% | +0.07 |
| ARKK ARK Innovation ETF | New | 0.06% | +0.06 |
| UBER Uber Technologies Inc. | Add +0.7% | 1.05% | +0.05 |
| AMD Advanced Micro Devices | New | 0.05% | +0.05 |
| NRG NRG Energy Inc. | New | 0.05% | +0.05 |
| FBTC Fidelity Wise Origin Bitcoin | New | 0.05% | +0.05 |
| XYZ Block Inc. | New | 0.05% | +0.05 |
| IVW iShares S&P 500 Growth ETF | New | 0.04% | +0.04 |
| RTX RTX Corp. | Add +31.5% | 0.25% | +0.04 |
| ETN Eaton Corp. PLC | Add +3.5% | 0.36% | +0.04 |
| SOUN Soundhound AI Inc. Class A | New | 0.03% | +0.03 |
| SEDG Solaredge Technologies Inc. | Add +18.2% | 0.11% | +0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +5.7% | 0.64% | +0.01 |
| LHX L3HARRIS Technologies Inc. | Add +5.1% | 0.20% | +0.01 |
| COF Capital One Financial Corp. | Add +3.5% | 1.08% | +0.00 |
| SHOP Shopify Inc. Class A | Add +1.2% | 2.31% | −0.00 |
| QQQ Invesco QQQ Trust Series 1 | Add +3.5% | 0.98% | −0.00 |
| ABT Abbott Laboratories | Add +15.1% | 0.14% | −0.01 |
| VOO Vanguard S&P 500 ETF | Add +0.9% | 0.07% | −0.01 |
| HFXI Nylim Ftse Intr Eq CN ETF-Ui | Add +0.8% | 0.05% | −0.01 |
| WSM Williams-Sonoma Inc. | Add +0.1% | 0.05% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +1.5% | 0.08% | −0.01 |
| TJX TJX Companies Inc. | Add +10.3% | 0.12% | −0.01 |
| DGRW Wisdomtree U.S. Quality Divi | Add +0.0% | 0.10% | −0.02 |
| TXN Texas Instruments Inc. | Add +0.2% | 0.36% | −0.02 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +0.8% | 0.20% | −0.02 |
| ET Energy Transfer LP | Add +4.8% | 0.12% | −0.02 |
| RSP Invesco S&P 500 Equal Weight | Add +5.5% | 0.25% | −0.03 |
| BMY Bristol-Myers Squibb Co. | Add +0.7% | 0.05% | −0.03 |
| PANW Palo Alto Networks Inc. | Add +0.4% | 2.14% | −0.03 |
Options Activity Q1 2025 → Q2 2025
| QQQ Invesco QQQ Trust Series 1 | put | New | 150,000 | $82.7M |
| BKNG Booking Holdings Inc. | put | New | 10,000 | $57.9M |
| MELI MercadoLibre Inc. | put | New | 12,000 | $31.4M |
| CMG Chipotle Mexican Grill Inc. | put | Sold out | 200,000 | $10.0Mbefore exit |
| NFLX Netflix Inc. | put | Sold out | 10,000 | $9.3Mbefore exit |
| NOW ServiceNow Inc. | put | Sold out | 10,000 | $8.0Mbefore exit |
| META Meta Platforms Inc. Class A | put | Sold out | 10,000 | $5.8Mbefore exit |
| NVDA Nvidia Corp. | call | Add +70.6% | 29,000 | $4.6M |
| MSFT Microsoft Corp. | put | Sold out | 10,000 | $3.8Mbefore exit |
| AVGO Broadcom Inc. | call | Add +62.5% | 13,000 | $3.6M |
| KLAC KLA Corp. | put | Sold out | 5,000 | $3.4Mbefore exit |
| AVGO Broadcom Inc. | put | Add +25.0% | 10,000 | $2.8M |
| NVDA Nvidia Corp. | put | Sold out | 20,000 | $2.2Mbefore exit |
| REGN Regeneron Pharmaceuticals | put | Sold out | 3,200 | $2.0Mbefore exit |
| SEDG Solaredge Technologies Inc. | call | Reduce -2.9% | 40,300 | $822K |
| GOOG Alphabet Inc. Class C | put | Sold out | 5,000 | $781Kbefore exit |
| GOOGL Alphabet Inc. Class A | put | Sold out | 3,000 | $464Kbefore exit |
| BBAI Bigbear.ai Holdings Inc. | call | New | 20,000 | $78K |
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 |