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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
-$37M
Cap. Flow %
-46.79%
Top 10 Hldgs %
69.7%
Holding
30
New
3
Increased
7
Reduced
11
Closed
5

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
ALLY icon
26
Ally Financial
ALLY
$12.9B
– –
-173,237
Closed -$4.55M
MPT
27
Medical Properties Trust
MPT
$2.46B
– –
-147,584
Closed -$2.07M
SPY icon
28
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$819B
– –
-72,000
Closed -$129K
RPT
29
Rithm Property Trust
RPT
$102M
– –
-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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BCA
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BCM
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MS
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AIIC
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HFA
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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 $37M 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.