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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
+10.29%
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
$492M
AUM Growth
+$50.7M
(+11%)
Cap. Flow
-$35.7M
Cap. Flow
% of AUM
-7.26%
Top 10 Holdings %
Top 10 Hldgs %
58.31%
Holding
39
New
6
Increased
12
Reduced
7
Closed
3
Avg Time Held Equity + Options
3.1
quarters
Top 10 Avg Time Held Equity + Options
3.5
quarters
Top 20 Avg Time Held Equity + Options
3
quarters
Avg Time Held Equity only
3.3
quarters
Top 10 Avg Time Held Equity only
3.5
quarters
Top 20 Avg Time Held Equity only
3
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SPN
Superior Energy Services, Inc.
SPN
|
+$9.21M |
| 2 |
Patterson-UTI
PTEN
|
+$4.89M |
| 3 |
WLH
WILLIAM LYON HOMES
WLH
|
+$4.6M |
| 4 |
Lennar Class A
LEN
|
+$4.27M |
| 5 |
Citigroup
C
|
+$4.18M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TMHC
Taylor Morrison
TMHC
|
+$16.5M |
| 2 |
General Motors
GM
|
+$14.6M |
| 3 |
MGM Resorts International
MGM
|
+$14.5M |
| 4 |
American Airlines Group
AAL
|
+$10M |
| 5 |
TRK
Speedway Motorsports, Inc.
TRK
|
+$7.51M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 60.16% |
| 2 | Miscellaneous | 11.52% |
| 3 | Industrials | 9.26% |
| 4 | Financials | 8.82% |
| 5 | Real Estate | 6.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
LNW
26
DELISTED
Light & Wonder
LNW
| $3.6M | 0.73% |
343,800
| – | – |
2014 Q3
2 quarters
|
|
27
PUT
iShares Russell 2000 ETF
IWM
$77.4B
| $2.79M | 0.57% |
1,690,000
+690,000
| +69% | +$83.2M |
2014 Q4
1 quarter
|
|
28
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$46.7B
| $1.12M | 0.23% |
+1,724,100
| New | +$225M |
2015 Q1
0 quarters
|
|
|
HK
29
DELISTED
Halcon Resources Corporation
HK
| $319K | 0.06% |
+1,202
| New | +$356K |
2015 Q1
0 quarters
|
|
30
PUT
iShares US Home Construction ETF
ITB
$2.28B
| $31K | 0.01% |
+625,000
| New | +$16.7M |
2015 Q1
0 quarters
|
|
|
TMHC
31
DELISTED
Taylor Morrison
TMHC
| – | – |
-872,044
| Closed | -$16.5M | – |
|
|
TRK
32
DELISTED
Speedway Motorsports, Inc.
TRK
| – | – |
-343,426
| Closed | -$7.51M | – |
|
|
XIV
33
DELISTED
VelocityShares Daily Inverse VIX Short Term ETN
XIV
| – | – |
-16,000
| Closed | -$498K | – |
|
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Covalent Partners's Q1 2015 Portfolio in Review
As of Q1 2015, Covalent Partners held 39 positions worth $492M, up 11% from $441M the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Covalent Partners withdrew a net $35.7M in Q1 2015, closing 3 positions and reducing 7 holdings. Its most notable exit was Taylor Morrison, an estimated $16.5M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 60% of assets, down from 70% a quarter earlier, followed by Miscellaneous and Industrials.
Against the trend, Covalent Partners opened a new position in Superior Energy Services, Inc. worth $9.91M.
- Covalent Partners's largest Q1 2015 buy was Superior Energy Services, Inc.: 44,340 shares worth $9.91M.
- Covalent Partners added most to WILLIAM LYON HOMES in Q1 2015, an estimated $4.6M increase.
- Covalent Partners's biggest Q1 2015 reduction was General Motors, cutting an estimated $14.6M.
- Covalent Partners fully exited Taylor Morrison in Q1 2015, selling an estimated $16.5M.
- Covalent Partners's ten largest holdings make up 58% of its $492M portfolio in Q1 2015.
- Covalent Partners opened 6 new positions and closed 3 in Q1 2015.
- Covalent Partners's portfolio value rose 11% quarter-over-quarter to $492M.
Based on Covalent Partners's 13F filing for Q1 2015, filed 15 May 2015.