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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
-3.21%
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
$79M
AUM Growth
-$14.4M
Cap. Flow
-$9.97M
Cap. Flow %
-12.62%
Top 10 Hldgs %
69.7%
Holding
30
New
3
Increased
7
Reduced
11
Closed
5
Avg Time Held Equity + Options
4.5 quarters
Top 10 Avg Time Held Equity + Options
2.8 quarters
Top 20 Avg Time Held Equity + Options
4.3 quarters
Avg Time Held Equity only
4.9 quarters
Top 10 Avg Time Held Equity only
2.8 quarters
Top 20 Avg Time Held Equity only
4.3 quarters

Top Buys

Rank Stock Value
1
HAL icon
Halliburton
HAL
+$3.51M
2
LGIH icon
LGI Homes
LGIH
+$1.91M
3
PR
Permian Resources
PR
+$1.78M
4
NEX
NexTier Oilfield Solutions Inc.
NEX
+$1.43M
5
SEI
Solaris Energy Infrastructure
SEI
+$779K

Top Sells

Rank Stock Value
1
ALLY icon
Ally Financial
ALLY
+$4.55M
2
SPN
Superior Energy Services, Inc.
SPN
+$2.4M
3
MPT
Medical Properties Trust
MPT
+$2.07M
4
EVRI
Everi Holdings
EVRI
+$1.97M
5
DHI icon
D.R. Horton
DHI
+$1.95M

Sector Composition

Rank Sector Weight
1 Energy 49.33%
2 Consumer Discretionary 21.39%
3 Real Estate 11.6%
4 Industrials 11.26%
5 Materials 6.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ALLY icon
26
Ally Financial
ALLY
$11.4B
– –
-173,237
Closed -$4.55M –
MPT
27
Medical Properties Trust
MPT
$1.88B
– –
-147,584
Closed -$2.07M –
SPY icon
28
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$833B
– –
-72,000
Closed -$129K –
RPT
29
Rithm Property Trust
RPT
$83.8M
– –
-24,707
Closed -$1.87M –
EGC
30
DELISTED
Energy XXI Gulf Coast, Inc. Common Stock
EGC
– –
-109,657
Closed -$969K –
1
2

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Covalent Partners's Q3 2018 Portfolio in Review

As of Q3 2018, Covalent Partners held 30 positions worth $79M, down 15% from $93.3M the previous quarter. Its ten largest holdings account for 70% of the portfolio.

Covalent Partners withdrew a net $9.97M in Q3 2018, closing 5 positions and reducing 11 holdings. Its most notable exit was Ally Financial, an estimated $4.55M position sold in full.

By sector, the portfolio is most concentrated in Energy at 49% of assets, up from 39% a quarter earlier, followed by Consumer Discretionary and Real Estate.

Against the trend, Covalent Partners opened a new position in Halliburton worth $3.44M.

  • Covalent Partners's largest Q3 2018 buy was Halliburton: 84,800 shares worth $3.44M.
  • Covalent Partners added most to NexTier Oilfield Solutions Inc. in Q3 2018, an estimated $1.43M increase.
  • Covalent Partners's biggest Q3 2018 reduction was Superior Energy Services, Inc., cutting an estimated $2.4M.
  • Covalent Partners fully exited Ally Financial in Q3 2018, selling an estimated $4.55M.
  • Covalent Partners's ten largest holdings make up 70% of its $79M portfolio in Q3 2018.
  • Covalent Partners opened 3 new positions and closed 5 in Q3 2018.
  • Covalent Partners's portfolio value fell 15% quarter-over-quarter to $79M.

Based on Covalent Partners's 13F filing for Q3 2018, filed 14 Nov 2018.