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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
+8.37%
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
$256M
AUM Growth
-$34M
Cap. Flow
-$66.9M
Cap. Flow %
-26.09%
Top 10 Hldgs %
61.89%
Holding
37
New
2
Increased
5
Reduced
14
Closed
1
Avg Time Held Equity + Options
4.8 quarters
Top 10 Avg Time Held Equity + Options
3.2 quarters
Top 20 Avg Time Held Equity + Options
5.8 quarters
Avg Time Held Equity only
5 quarters
Top 10 Avg Time Held Equity only
3.2 quarters
Top 20 Avg Time Held Equity only
5.8 quarters

Top Buys

Rank Stock Value
1
TOL icon
Toll Brothers
TOL
+$1.61M
2
CRC
California Resources Corporation
CRC
+$1.19M
3
BRS
Bristow Group, Inc.
BRS
+$1.08M
4
MHO icon
M/I Homes
MHO
+$1.03M
5
ALLY icon
Ally Financial
ALLY
+$85.7K

Top Sells

Rank Stock Value
1
WCIC
WCI Communities, Inc.
WCIC
+$10.9M
2
WLH
WILLIAM LYON HOMES
WLH
+$10.8M
3
PHM icon
Pultegroup
PHM
+$8.7M
4
NWHM
THE NEW HOME COMPANY INC.
NWHM
+$6.93M
5
OSB
Norbord Inc.
OSB
+$5.8M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 60.5%
2 Real Estate 12.86%
3 Financials 9.95%
4 Miscellaneous 6.02%
5 Industrials 4.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WYNN icon
26
CALL
Wynn Resorts
WYNN
$7.74B
$410K 0.16%
26,100
– –
2016 Q1
2 quarters
IWM icon
27
PUT
iShares Russell 2000 ETF
IWM
$77.4B
$54K 0.02%
400,000
+100,000
+33% +$12.2M
2016 Q2
1 quarter
NEXT icon
28
NextDecade
NEXT
$1.76B
$2K ﹤0.01%
180,000
– –
2015 Q3
4 quarters
WFT
29
CALL
DELISTED
Weatherford International plc
WFT
$1K ﹤0.01%
34,400
– –
2016 Q1
2 quarters
ITB icon
30
PUT
iShares US Home Construction ETF
ITB
$2.28B
– –
-1,000,000
Closed -$500K –
1
2

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Covalent Partners's Q3 2016 Portfolio in Review

As of Q3 2016, Covalent Partners held 37 positions worth $256M, down 12% from $290M the previous quarter. Its ten largest holdings account for 62% of the portfolio.

Covalent Partners withdrew a net $66.9M in Q3 2016, closing 1 position and reducing 14 holdings. Its largest reduction was WCI Communities, Inc., cutting an estimated $10.9M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 60% of assets, down from 65% a quarter earlier, followed by Real Estate and Financials.

Against the trend, Covalent Partners opened a new position in California Resources Corporation worth $1.3M.

  • Covalent Partners's largest Q3 2016 buy was California Resources Corporation: 104,000 shares worth $1.3M.
  • Covalent Partners added most to Toll Brothers in Q3 2016, an estimated $1.61M increase.
  • Covalent Partners's biggest Q3 2016 reduction was WCI Communities, Inc., cutting an estimated $10.9M.
  • Covalent Partners's ten largest holdings make up 62% of its $256M portfolio in Q3 2016.
  • Covalent Partners opened 2 new positions and closed 1 in Q3 2016.
  • Covalent Partners's portfolio value fell 12% quarter-over-quarter to $256M.

Based on Covalent Partners's 13F filing for Q3 2016, filed 14 Nov 2016.