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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
-9.08%
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
$417M
AUM Growth
+$24.7M
(+6.3%)
Cap. Flow
-$70.9M
Cap. Flow
% of AUM
-17%
Top 10 Holdings %
Top 10 Hldgs %
63.63%
Holding
37
New
4
Increased
15
Reduced
12
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dana Inc
DAN
|
+$17.3M |
| 2 |
General Motors
GM
|
+$12.3M |
| 3 |
Pultegroup
PHM
|
+$9.97M |
| 4 |
RYL
RYLAND GROUP INC
RYL
|
+$9.75M |
| 5 |
AXLL
AXIALL CORP COM STK (DE)
AXLL
|
+$9.14M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$10.6M |
| 2 |
CNR
Cornerstone Building Brands, Inc.
CNR
|
+$8.79M |
| 3 |
Louisiana-Pacific
LPX
|
+$4.95M |
| 4 |
JGW
J G WENTWORTH CO CL A COM STK (DE)
JGW
|
+$2.97M |
| 5 |
iShares Russell 2000 ETF
IWM
|
+$2.63M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 50.91% |
| 2 | Industrials | 13.29% |
| 3 | Real Estate | 12.3% |
| 4 | Financials | 11.66% |
| 5 | Communication Services | 6.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$819B
| $4.25M | 1.02% |
2,900,000
-460,000
| -14% | -$90.9M |
|
|
LNW
27
DELISTED
Light & Wonder
LNW
| $3.43M | 0.82% |
+318,800
| New | +$3.26M |
|
|
PNK
28
DELISTED
Pinnacle Entertainment Inc.
PNK
| $1.76M | 0.42% |
+70,250
| New | +$1.72M |
|
|
WLT
29
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
| $1.3M | 0.31% |
557,330
+50,000
| +10% | +$259K |
|
|
MGAM
30
DELISTED
MULTIMEDIA GAMES HOLDING COMPANY INC COM STK (TX)
MGAM
| $1.09M | 0.26% |
+30,235
| New | +$909K |
|
|
31
CALL
iShares Russell 2000 ETF
IWM
$81.4B
| $132K | 0.03% |
660,000
-340,000
| -34% | -$38.9M |
|
|
32
Apple
AAPL
$4.53T
| – | – |
-456,008
| Closed | -$10.6M |
|
|
33
iShares Russell 2000 ETF
IWM
$81.4B
| – | – |
-23,000
| Closed | -$2.63M |
|
|
WAC
34
DELISTED
Walter Investment Mgt Corp
WAC
| – | – |
-11,000
| Closed | -$328K |
|
|
JGW
35
DELISTED
J G WENTWORTH CO CL A COM STK (DE)
JGW
| – | – |
-263,610
| Closed | -$2.97M |
|
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Covalent Partners's Q3 2014 Portfolio in Review
As of Q3 2014, Covalent Partners held 37 positions worth $417M, up 6.3% from $392M the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Covalent Partners withdrew a net $70.9M in Q3 2014, closing 5 positions and reducing 12 holdings. Its most notable exit was Apple, an estimated $10.6M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 51% of assets, up from 46% a quarter earlier, followed by Industrials and Real Estate.
Against the trend, Covalent Partners opened a new position in AXIALL CORP COM STK (DE) worth $7.74M.
- Covalent Partners's largest Q3 2014 buy was AXIALL CORP COM STK (DE): 215,988 shares worth $7.74M.
- Covalent Partners added most to Dana Inc in Q3 2014, an estimated $17.3M increase.
- Covalent Partners's biggest Q3 2014 reduction was Cornerstone Building Brands, Inc., cutting an estimated $8.79M.
- Covalent Partners fully exited Apple in Q3 2014, selling an estimated $10.6M.
- Covalent Partners's ten largest holdings make up 64% of its $417M portfolio in Q3 2014.
- Covalent Partners opened 4 new positions and closed 5 in Q3 2014.
- Covalent Partners's portfolio value rose 6.3% quarter-over-quarter to $417M.
Based on Covalent Partners's 13F filing for Q3 2014, filed 14 Nov 2014.