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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
-26.85%
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
$61.9M
AUM Growth
-$17.1M
Cap. Flow
+$6.79M
Cap. Flow %
10.98%
Top 10 Hldgs %
75.29%
Holding
29
New
4
Increased
11
Reduced
8
Closed
4
Avg Time Held Equity + Options
5.1 quarters
Top 10 Avg Time Held Equity + Options
3.5 quarters
Top 20 Avg Time Held Equity + Options
5.1 quarters
Avg Time Held Equity only
5.7 quarters
Top 10 Avg Time Held Equity only
3.5 quarters
Top 20 Avg Time Held Equity only
5.1 quarters

Top Buys

Rank Stock Value
1
HAL icon
Halliburton
HAL
+$5.44M
2
PTEN icon
Patterson-UTI
PTEN
+$3.45M
3
NEX
NexTier Oilfield Solutions Inc.
NEX
+$2.16M
4
BRSL icon
Brightstar Lottery PLC
BRSL
+$2.03M
5
SPN
Superior Energy Services, Inc.
SPN
+$1.68M

Top Sells

Rank Stock Value
1
TOL icon
Toll Brothers
TOL
+$3.85M
2
AGCO icon
AGCO
AGCO
+$2.85M
3
DHI icon
D.R. Horton
DHI
+$2.81M
4
TWI icon
Titan International
TWI
+$2.19M
5
UFPI icon
UFP Industries
UFPI
+$856K

Sector Composition

Rank Sector Weight
1 Energy 57.7%
2 Consumer Discretionary 17.61%
3 Real Estate 13.03%
4 Industrials 5.37%
5 Materials 4.69%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
IWM icon
26
PUT
iShares Russell 2000 ETF
IWM
$77.4B
– –
-184,500
Closed -$33K –
QQQ icon
27
PUT
Invesco QQQ Trust
QQQ
$507B
– –
-86,600
Closed -$6K –
TOL icon
28
Toll Brothers
TOL
$12.3B
– –
-116,430
Closed -$3.85M –
TWI icon
29
Titan International
TWI
$449M
– –
-295,843
Closed -$2.19M –
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 Q4 2018 Portfolio in Review

As of Q4 2018, Covalent Partners held 29 positions worth $61.9M, down 22% from $79M the previous quarter. Its ten largest holdings account for 75% of the portfolio.

Covalent Partners deployed $6.79M of net new capital in Q4 2018, opening 4 new positions and adding to 11 existing holdings. Its largest new stake was Brightstar Lottery PLC: 122,514 shares worth $1.79M.

By sector, the portfolio is most concentrated in Energy at 58% of assets, up from 49% a quarter earlier, followed by Consumer Discretionary and Real Estate.

On the sell side, the largest reduction was AGCO, an estimated $2.85M trimmed.

  • Covalent Partners's largest Q4 2018 buy was Brightstar Lottery PLC: 122,514 shares worth $1.79M.
  • Covalent Partners added most to Halliburton in Q4 2018, an estimated $5.44M increase.
  • Covalent Partners's biggest Q4 2018 reduction was AGCO, cutting an estimated $2.85M.
  • Covalent Partners fully exited Toll Brothers in Q4 2018, selling an estimated $3.85M.
  • Covalent Partners's ten largest holdings make up 75% of its $61.9M portfolio in Q4 2018.
  • Covalent Partners opened 4 new positions and closed 4 in Q4 2018.
  • Covalent Partners's portfolio value fell 22% quarter-over-quarter to $61.9M.

Based on Covalent Partners's 13F filing for Q4 2018, filed 14 Feb 2019.