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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
+3.44%
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
$290M
AUM Growth
-$18.8M
Cap. Flow
-$36.4M
Cap. Flow %
-12.54%
Top 10 Hldgs %
62.86%
Holding
34
New
4
Increased
6
Reduced
9
Closed
1
Avg Time Held Equity + Options
4.2 quarters
Top 10 Avg Time Held Equity + Options
3.6 quarters
Top 20 Avg Time Held Equity + Options
5 quarters
Avg Time Held Equity only
4.8 quarters
Top 10 Avg Time Held Equity only
3.6 quarters
Top 20 Avg Time Held Equity only
5 quarters

Top Buys

Rank Stock Value
1
TOL icon
Toll Brothers
TOL
+$5.59M
2
MHO icon
M/I Homes
MHO
+$4.01M
3
ALLY icon
Ally Financial
ALLY
+$3.17M
4
LGIH icon
LGI Homes
LGIH
+$2.13M
5
EVRI
Everi Holdings
EVRI
+$1.83M

Top Sells

Rank Stock Value
1
BLD
TopBuild
BLD
+$13.5M
2
PHM icon
Pultegroup
PHM
+$10.5M
3
GLPI icon
Gaming and Leisure Properties
GLPI
+$6.83M
4
DHI icon
D.R. Horton
DHI
+$4.95M
5
CAA
CalAtlantic Group, Inc.
CAA
+$3.52M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 65.44%
2 Real Estate 11.93%
3 Financials 7.87%
4 Miscellaneous 5.22%
5 Industrials 4.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WFT
26
CALL
DELISTED
Weatherford International plc
WFT
$4K ﹤0.01%
34,400
– –
2016 Q1
1 quarter
NEXT icon
27
NextDecade
NEXT
$1.76B
$2K ﹤0.01%
180,000
– –
2015 Q3
3 quarters
BLD
28
DELISTED
TopBuild
BLD
– –
-453,141
Closed -$13.5M –
1
2

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Covalent Partners's Q2 2016 Portfolio in Review

As of Q2 2016, Covalent Partners held 34 positions worth $290M, down 6.1% from $309M the previous quarter. Its ten largest holdings account for 63% of the portfolio.

Covalent Partners withdrew a net $36.4M in Q2 2016, closing 1 position and reducing 9 holdings. Its most notable exit was TopBuild, an estimated $13.5M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 65% of assets, up from 64% a quarter earlier, followed by Real Estate and Financials.

Against the trend, Covalent Partners opened a new position in M/I Homes worth $4M.

  • Covalent Partners's largest Q2 2016 buy was M/I Homes: 212,690 shares worth $4M.
  • Covalent Partners added most to Toll Brothers in Q2 2016, an estimated $5.59M increase.
  • Covalent Partners's biggest Q2 2016 reduction was Pultegroup, cutting an estimated $10.5M.
  • Covalent Partners fully exited TopBuild in Q2 2016, selling an estimated $13.5M.
  • Covalent Partners's ten largest holdings make up 63% of its $290M portfolio in Q2 2016.
  • Covalent Partners opened 4 new positions and closed 1 in Q2 2016.
  • Covalent Partners's portfolio value fell 6.1% quarter-over-quarter to $290M.

Based on Covalent Partners's 13F filing for Q2 2016, filed 15 Aug 2016.