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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
+1.25%
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
$93.3M
AUM Growth
-$11.5M
Cap. Flow
-$14.7M
Cap. Flow %
-15.72%
Top 10 Hldgs %
66.36%
Holding
30
New
5
Increased
8
Reduced
10
Closed
3
Avg Time Held Equity + Options
4.5 quarters
Top 10 Avg Time Held Equity + Options
2.5 quarters
Top 20 Avg Time Held Equity + Options
4.8 quarters
Avg Time Held Equity only
5.2 quarters
Top 10 Avg Time Held Equity only
2.5 quarters
Top 20 Avg Time Held Equity only
4.8 quarters

Top Buys

Rank Stock Value
1
TOL icon
Toll Brothers
TOL
+$4.6M
2
NEX
NexTier Oilfield Solutions Inc.
NEX
+$4.52M
3
DHI icon
D.R. Horton
DHI
+$4.42M
4
PXD
Pioneer Natural Resource Co.
PXD
+$3.33M
5
TWI icon
Titan International
TWI
+$2.28M

Top Sells

Rank Stock Value
1
PGEM
Ply Gem Holdings, Inc.
PGEM
+$6.48M
2
MHO icon
M/I Homes
MHO
+$5.97M
3
GLPI icon
Gaming and Leisure Properties
GLPI
+$4.85M
4
EGC
Energy XXI Gulf Coast, Inc. Common Stock
EGC
+$4.85M
5
MPT
Medical Properties Trust
MPT
+$4.83M

Sector Composition

Rank Sector Weight
1 Energy 39.11%
2 Consumer Discretionary 21.89%
3 Real Estate 14.2%
4 Industrials 12.32%
5 Materials 6.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
QQQ icon
26
PUT
Invesco QQQ Trust
QQQ
$507B
$86K 0.09%
+82,500
New +$13.8M
2018 Q2
0 quarters
NBR icon
27
CALL
Nabors Industries
NBR
$1.23B
$44K 0.05%
4,216
– –
2018 Q1
1 quarter
MHO icon
28
M/I Homes
MHO
$3.23B
– –
-187,580
Closed -$5.97M –
PCG icon
29
PG&E
PCG
$39.4B
– –
-42,831
Closed -$1.88M –
PGEM
30
DELISTED
Ply Gem Holdings, Inc.
PGEM
– –
-300,000
Closed -$6.48M –
1
2

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Covalent Partners's Q2 2018 Portfolio in Review

As of Q2 2018, Covalent Partners held 30 positions worth $93.3M, down 11% from $105M the previous quarter. Its ten largest holdings account for 66% of the portfolio.

Covalent Partners withdrew a net $14.7M in Q2 2018, closing 3 positions and reducing 10 holdings. Its most notable exit was Ply Gem Holdings, Inc., an estimated $6.48M position sold in full.

By sector, the portfolio is most concentrated in Energy at 39% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Covalent Partners opened a new position in Toll Brothers worth $4.15M.

  • Covalent Partners's largest Q2 2018 buy was Toll Brothers: 112,232 shares worth $4.15M.
  • Covalent Partners added most to D.R. Horton in Q2 2018, an estimated $4.42M increase.
  • Covalent Partners's biggest Q2 2018 reduction was Gaming and Leisure Properties, cutting an estimated $4.85M.
  • Covalent Partners fully exited Ply Gem Holdings, Inc. in Q2 2018, selling an estimated $6.48M.
  • Covalent Partners's ten largest holdings make up 66% of its $93.3M portfolio in Q2 2018.
  • Covalent Partners opened 5 new positions and closed 3 in Q2 2018.
  • Covalent Partners's portfolio value fell 11% quarter-over-quarter to $93.3M.

Based on Covalent Partners's 13F filing for Q2 2018, filed 14 Aug 2018.