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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
-$6.54M
Cap. Flow %
-7.01%
Top 10 Hldgs %
66.36%
Holding
30
New
5
Increased
8
Reduced
10
Closed
3

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
QQQ icon
26
PUT
Invesco QQQ Trust
QQQ
$483B
$86K 0.09%
+82,500
New +$13.8M
NBR icon
27
CALL
Nabors Industries
NBR
$1.31B
$44K 0.05%
4,216
– –
MHO icon
28
M/I Homes
MHO
$3.84B
– –
-187,580
Closed -$5.97M
PCG icon
29
PG&E
PCG
$39.9B
– –
-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 $6.54M 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.