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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
-9.41%
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
$474M
AUM Growth
-$80.2M
(-14%)
Cap. Flow
-$17.4M
Cap. Flow
% of AUM
-3.66%
Top 10 Holdings %
Top 10 Hldgs %
54.03%
Holding
43
New
7
Increased
13
Reduced
14
Closed
6
Avg Time Held Equity + Options
3.8
quarters
Top 10 Avg Time Held Equity + Options
3.8
quarters
Top 20 Avg Time Held Equity + Options
3.7
quarters
Avg Time Held Equity only
4.1
quarters
Top 10 Avg Time Held Equity only
3.8
quarters
Top 20 Avg Time Held Equity only
3.7
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
BLD
TopBuild
BLD
|
+$15.6M |
| 2 |
SPN
Superior Energy Services, Inc.
SPN
|
+$14.1M |
| 3 |
UFP Industries
UFPI
|
+$12.1M |
| 4 |
WCIC
WCI Communities, Inc.
WCIC
|
+$8.76M |
| 5 |
Dana Inc
DAN
|
+$8.66M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meritage Homes
MTH
|
+$13.1M |
| 2 |
MGM Resorts International
MGM
|
+$12.1M |
| 3 |
iShares 20+ Year Treasury Bond ETF
TLT
|
+$8.19M |
| 4 |
Citigroup
C
|
+$7.29M |
| 5 |
ISCA
International Speedway Corp
ISCA
|
+$6.29M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 63.31% |
| 2 | Real Estate | 7.98% |
| 3 | Industrials | 7.74% |
| 4 | Energy | 6.45% |
| 5 | Miscellaneous | 6.17% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
M/I Homes
MHO
$3.23B
| $4.38M | 0.92% |
185,736
-221,926
| -54% | -$5.51M |
2014 Q1
6 quarters
|
|
27
Sinclair Inc
SBGI
$921M
| $3.96M | 0.83% |
156,252
-3,641
| -2% | -$100K |
2013 Q2
9 quarters
|
|
|
ISCA
28
DELISTED
International Speedway Corp
ISCA
| $3.44M | 0.72% |
108,292
-188,846
| -64% | -$6.29M |
2013 Q2
9 quarters
|
|
|
SAVE
29
DELISTED
Spirit Airlines, Inc.
SAVE
| $3.08M | 0.65% |
+65,000
| New | +$3.64M |
2015 Q3
0 quarters
|
|
30
United States Oil Fund
USO
$1.68B
| $1.32M | 0.28% |
+11,250
| New | +$1.38M |
2015 Q3
0 quarters
|
|
31
PUT
MBIA
MBI
$231M
| $54K | 0.01% |
207,400
-79,000
| -28% | -$508K |
2015 Q2
1 quarter
|
|
|
32
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$46.7B
| $47K | 0.01% |
2,640,300
+1,592,400
| +152% | +$193M |
2015 Q1
2 quarters
|
|
33
NextDecade
NEXT
$1.76B
| $2K | ﹤0.01% |
+180,000
| New | +$1.79M |
2015 Q3
0 quarters
|
|
34
PUT
iShares US Home Construction ETF
ITB
$2.28B
| – | – |
-904,800
| Closed | -$49K | – |
|
|
LNW
35
DELISTED
Light & Wonder
LNW
| – | – |
-248,800
| Closed | -$3.87M | – |
|
36
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$833B
| – | – |
-735,000
| Closed | -$1.87M | – |
|
37
Terex
TEX
$5.79B
| – | – |
-259,200
| Closed | -$6.03M | – |
|
|
38
iShares 20+ Year Treasury Bond ETF
TLT
$46.7B
| – | – |
-67,500
| Closed | -$8.19M | – |
|
Similar funds
BCPE
HAM
BCA
BCM
MS
RA
AIIC
HFA
Covalent Partners's Q3 2015 Portfolio in Review
As of Q3 2015, Covalent Partners held 43 positions worth $474M, down 14% from $554M the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Covalent Partners withdrew a net $17.4M in Q3 2015, closing 6 positions and reducing 14 holdings. Its most notable exit was iShares 20+ Year Treasury Bond ETF, an estimated $8.19M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 63% of assets, up from 62% a quarter earlier, followed by Real Estate and Industrials.
Against the trend, Covalent Partners opened a new position in TopBuild worth $15.6M.
- Covalent Partners's largest Q3 2015 buy was TopBuild: 504,941 shares worth $15.6M.
- Covalent Partners added most to Superior Energy Services, Inc. in Q3 2015, an estimated $14.1M increase.
- Covalent Partners's biggest Q3 2015 reduction was Meritage Homes, cutting an estimated $13.1M.
- Covalent Partners fully exited iShares 20+ Year Treasury Bond ETF in Q3 2015, selling an estimated $8.19M.
- Covalent Partners's ten largest holdings make up 54% of its $474M portfolio in Q3 2015.
- Covalent Partners opened 7 new positions and closed 6 in Q3 2015.
- Covalent Partners's portfolio value fell 14% quarter-over-quarter to $474M.
Based on Covalent Partners's 13F filing for Q3 2015, filed 13 Nov 2015.