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CP
Covalent Partners Portfolio holdings
AUM
$17.6M
1-Year Est. Return
2.91%
This Fund
S&P 500
This Quarter
Est. Return
+7.28%
1 Year Est. Return
+2.91%
3 Year Est. Return
+36.56%
5 Year Est. Return
+67.28%
10 Year Est. Return
+115.1%
AUM
$288M
AUM Growth
+$2.02M
(+0.71%)
Cap. Flow
-$32.7M
Cap. Flow
% of AUM
-11.35%
Top 10 Holdings %
Top 10 Hldgs %
64.46%
Holding
33
New
6
Increased
6
Reduced
4
Closed
5
Avg Time Held Equity + Options
0.8
quarters
Top 10 Avg Time Held Equity + Options
0.8
quarters
Top 20 Avg Time Held Equity + Options
0.8
quarters
Avg Time Held Equity only
0.8
quarters
Top 10 Avg Time Held Equity only
0.8
quarters
Top 20 Avg Time Held Equity only
0.8
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
CNR
Cornerstone Building Brands, Inc.
CNR
|
+$9.29M |
| 2 |
Bank of America
BAC
|
+$7.56M |
| 3 |
PENN Entertainment
PENN
|
+$7.46M |
| 4 |
CYS
CYS Investments Inc.
CYS
|
+$6.21M |
| 5 |
BEE
STRATEGIC HOTELS & RESORTS, INC
BEE
|
+$4.51M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ASCA
AMERISTAR CASINOS INC
ASCA
|
+$15.2M |
| 2 |
ISCA
International Speedway Corp
ISCA
|
+$7.44M |
| 3 |
PNK
Pinnacle Entertainment Inc.
PNK
|
+$7.15M |
| 4 |
CMLS
Cumulus Media Inc. Class A Common Stock
CMLS
|
+$4.01M |
| 5 |
Dana Inc
DAN
|
+$3.42M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 32.55% |
| 2 | Financials | 20.12% |
| 3 | Industrials | 16.13% |
| 4 | Miscellaneous | 14% |
| 5 | Communication Services | 7.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$833B
| $273K | 0.09% |
+3,000
| New | +$503K |
2013 Q3
0 quarters
|
|
27
PUT
State Street Industrial Select Sector SPDR ETF
XLI
$30.3B
| $228K | 0.08% |
4,000
-1,500
| -27% | -$67.9K |
2013 Q2
1 quarter
|
|
28
Ligand Pharmaceuticals
LGND
$6.02B
| – | – |
-140,402
| Closed | -$3.28M | – |
|
29
Stoneridge
SRI
$181M
| – | – |
-96,687
| Closed | -$1.13M | – |
|
|
CMLS
30
DELISTED
Cumulus Media Inc. Class A Common Stock
CMLS
| – | – |
-147,881
| Closed | -$4.01M | – |
|
|
XRM
31
DELISTED
Xerium Technologies Inc (new)
XRM
| – | – |
-257,461
| Closed | -$2.62M | – |
|
|
ASCA
32
DELISTED
AMERISTAR CASINOS INC
ASCA
| – | – |
-578,161
| Closed | -$15.2M | – |
|
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Covalent Partners's Q3 2013 Portfolio in Review
As of Q3 2013, Covalent Partners held 33 positions worth $288M, up 0.71% from $286M the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Covalent Partners withdrew a net $32.7M in Q3 2013, closing 5 positions and reducing 4 holdings. Its most notable exit was AMERISTAR CASINOS INC, an estimated $15.2M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, down from 33% a quarter earlier, followed by Financials and Industrials.
Against the trend, Covalent Partners opened a new position in Bank of America worth $7.31M.
- Covalent Partners's largest Q3 2013 buy was Bank of America: 529,777 shares worth $7.31M.
- Covalent Partners added most to Cornerstone Building Brands, Inc. in Q3 2013, an estimated $9.29M increase.
- Covalent Partners's biggest Q3 2013 reduction was International Speedway Corp, cutting an estimated $7.44M.
- Covalent Partners fully exited AMERISTAR CASINOS INC in Q3 2013, selling an estimated $15.2M.
- Covalent Partners's ten largest holdings make up 64% of its $288M portfolio in Q3 2013.
- Covalent Partners opened 6 new positions and closed 5 in Q3 2013.
- Covalent Partners's portfolio value rose 0.71% quarter-over-quarter to $288M.
Based on Covalent Partners's 13F filing for Q3 2013, filed 14 Nov 2013.