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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
-1.77%
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
$554M
AUM Growth
+$62.9M
(+13%)
Cap. Flow
+$122M
Cap. Flow
% of AUM
22.05%
Top 10 Holdings %
Top 10 Hldgs %
51.28%
Holding
43
New
8
Increased
14
Reduced
9
Closed
6
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
APA Corp
APA
|
+$17.2M |
| 2 |
RYL
RYLAND GROUP INC
RYL
|
+$14.4M |
| 3 |
American Airlines Group
AAL
|
+$11M |
| 4 |
D.R. Horton
DHI
|
+$11M |
| 5 |
RPT
Rithm Property Trust
RPT
|
+$9.47M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NCFT
NORCRAFT COS INC COM STK (DE)
NCFT
|
+$29.7M |
| 2 |
Ford
F
|
+$7.83M |
| 3 |
ISCA
International Speedway Corp
ISCA
|
+$7.75M |
| 4 |
Goldman Sachs
GS
|
+$6.92M |
| 5 |
Patterson-UTI
PTEN
|
+$5.35M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 61.71% |
| 2 | Real Estate | 6.67% |
| 3 | Financials | 6.14% |
| 4 | Industrials | 6.07% |
| 5 | Energy | 5.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Sinclair Inc
SBGI
$1.05B
| $4.46M | 0.8% |
159,893
| – | – |
|
|
LNW
27
DELISTED
Light & Wonder
LNW
| $3.87M | 0.7% |
248,800
-95,000
| -28% | -$1.35M |
|
28
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$46.6B
| $1.94M | 0.35% |
1,047,900
-676,200
| -39% | -$83M |
|
29
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$819B
| $1.87M | 0.34% |
+735,000
| New | +$155M |
|
30
PUT
MBIA
MBI
$250M
| $496K | 0.09% |
+286,400
| New | +$2.59M |
|
31
PUT
iShares US Home Construction ETF
ITB
$2.28B
| $49K | 0.01% |
904,800
+279,800
| +45% | +$7.59M |
|
|
32
Ford
F
$55.5B
| – | – |
-484,812
| Closed | -$7.83M |
|
|
33
Goldman Sachs
GS
$302B
| – | – |
-36,802
| Closed | -$6.92M |
|
34
PUT
iShares Russell 2000 ETF
IWM
$81.4B
| – | – |
-1,690,000
| Closed | -$2.79M |
|
|
35
Patterson-UTI
PTEN
$4.52B
| – | – |
-285,000
| Closed | -$5.35M |
|
|
NCFT
36
DELISTED
NORCRAFT COS INC COM STK (DE)
NCFT
| – | – |
-1,159,724
| Closed | -$29.7M |
|
|
HK
37
DELISTED
Halcon Resources Corporation
HK
| – | – |
-1,202
| Closed | -$319K |
|
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Covalent Partners's Q2 2015 Portfolio in Review
As of Q2 2015, Covalent Partners held 43 positions worth $554M, up 13% from $492M the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Covalent Partners deployed $122M of net new capital in Q2 2015, opening 8 new positions and adding to 14 existing holdings. Its largest new stake was APA Corp: 272,900 shares worth $15.7M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 62% of assets, up from 60% a quarter earlier, followed by Real Estate and Financials.
On the sell side, the largest reduction was International Speedway Corp, an estimated $7.75M trimmed.
- Covalent Partners's largest Q2 2015 buy was APA Corp: 272,900 shares worth $15.7M.
- Covalent Partners added most to RYLAND GROUP INC in Q2 2015, an estimated $14.4M increase.
- Covalent Partners's biggest Q2 2015 reduction was International Speedway Corp, cutting an estimated $7.75M.
- Covalent Partners fully exited NORCRAFT COS INC COM STK (DE) in Q2 2015, selling an estimated $29.7M.
- Covalent Partners's ten largest holdings make up 51% of its $554M portfolio in Q2 2015.
- Covalent Partners opened 8 new positions and closed 6 in Q2 2015.
- Covalent Partners's portfolio value rose 13% quarter-over-quarter to $554M.
Based on Covalent Partners's 13F filing for Q2 2015, filed 14 Aug 2015.