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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
+10.94%
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
$260M
AUM Growth
-$8.66M
(-3.2%)
Cap. Flow
-$23.6M
Cap. Flow
% of AUM
-9.08%
Top 10 Holdings %
Top 10 Hldgs %
69.22%
Holding
39
New
3
Increased
7
Reduced
10
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
EGC
Energy XXI Gulf Coast, Inc. Common Stock
EGC
|
+$29.8M |
| 2 |
SPN
Superior Energy Services, Inc.
SPN
|
+$13.8M |
| 3 |
WFT
Weatherford International plc
WFT
|
+$5.25M |
| 4 |
ATW
Atwood Oceanics
ATW
|
+$1.95M |
| 5 |
D.R. Horton
DHI
|
+$1.03M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CAA
CalAtlantic Group, Inc.
CAA
|
+$20.9M |
| 2 |
Citigroup
C
|
+$8.65M |
| 3 |
BAS
Basis Energy Services, Inc.
BAS
|
+$7.41M |
| 4 |
PENN Entertainment
PENN
|
+$6.99M |
| 5 |
Pultegroup
PHM
|
+$5.95M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 53.37% |
| 2 | Energy | 23.59% |
| 3 | Real Estate | 13.63% |
| 4 | Financials | 6.04% |
| 5 | Communication Services | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
NextDecade
NEXT
$1.96B
| $1K | ﹤0.01% |
182,232
+2,232
| +1% | +$22.7K |
|
27
Caesarstone
CSTE
$118M
| – | – |
-191,977
| Closed | -$5.5M |
|
28
Monarch Casino & Resort
MCRI
$2.23B
| – | – |
-189,919
| Closed | -$4.9M |
|
29
PUT
iShares 20+ Year Treasury Bond ETF
TLT
$46.6B
| – | – |
-187,500
| Closed | -$190K |
|
30
CALL
Wynn Resorts
WYNN
$10.2B
| – | – |
-26,100
| Closed | -$205K |
|
31
PUT
State Street SPDR S&P Homebuilders ETF
XHB
$1.41B
| – | – |
-4,841,700
| Closed | -$211K |
|
|
NWHM
32
DELISTED
THE NEW HOME COMPANY INC.
NWHM
| – | – |
-475,743
| Closed | -$5.57M |
|
|
BRS
33
DELISTED
Bristow Group, Inc.
BRS
| – | – |
-42,500
| Closed | -$870K |
|
|
WFT
34
CALL
DELISTED
Weatherford International plc
WFT
| – | – |
-34,400
| Closed | -$1K |
|
|
MEG
35
DELISTED
Media General, Inc
MEG
| – | – |
-240,000
| Closed | -$4.52M |
|
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Covalent Partners's Q1 2017 Portfolio in Review
As of Q1 2017, Covalent Partners held 39 positions worth $260M, down 3.2% from $269M the previous quarter. Its ten largest holdings account for 69% of the portfolio.
Covalent Partners withdrew a net $23.6M in Q1 2017, closing 9 positions and reducing 10 holdings. Its most notable exit was THE NEW HOME COMPANY INC., an estimated $5.57M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 53% of assets, down from 63% a quarter earlier, followed by Energy and Real Estate.
Against the trend, Covalent Partners opened a new position in Energy XXI Gulf Coast, Inc. Common Stock worth $30.2M.
- Covalent Partners's largest Q1 2017 buy was Energy XXI Gulf Coast, Inc. Common Stock: 1,006,615 shares worth $30.2M.
- Covalent Partners added most to Weatherford International plc in Q1 2017, an estimated $5.25M increase.
- Covalent Partners's biggest Q1 2017 reduction was CalAtlantic Group, Inc., cutting an estimated $20.9M.
- Covalent Partners fully exited THE NEW HOME COMPANY INC. in Q1 2017, selling an estimated $5.57M.
- Covalent Partners's ten largest holdings make up 69% of its $260M portfolio in Q1 2017.
- Covalent Partners opened 3 new positions and closed 9 in Q1 2017.
- Covalent Partners's portfolio value fell 3.2% quarter-over-quarter to $260M.
Based on Covalent Partners's 13F filing for Q1 2017, filed 15 May 2017.