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Covalent Partners Portfolio holdings

AUM $17.6M
1-Year Est. Return 2.91%
This Fund
S&P 500
This Quarter Est. Return
+24.52%
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
$52.5M
AUM Growth
-$9.36M
Cap. Flow
+$44.7M
Cap. Flow %
85.21%
Top 10 Hldgs %
89.86%
Holding
28
New
3
Increased
5
Reduced
10
Closed
8

Top Buys

Rank Stock Value
1
BRSL
Brightstar Lottery PLC
BRSL
+$1.54M
2
PXD
Pioneer Natural Resource Co.
PXD
+$1.21M
3
GLPI icon
Gaming and Leisure Properties
GLPI
+$351K
4
EPE
EP Energy Corporation
EPE
+$262K

Top Sells

Rank Stock Value
1
LEN icon
Lennar Class A
LEN
+$3.48M
2
AGCO icon
AGCO
AGCO
+$3.32M
3
PUMP icon
ProPetro Holding
PUMP
+$2.89M
4
LGIH icon
LGI Homes
LGIH
+$2.65M
5
SEI
Solaris Energy Infrastructure
SEI
+$2.6M

Sector Composition

Rank Sector Weight
1 Energy 64.8%
2 Real Estate 19.03%
3 Consumer Discretionary 8.63%
4 Materials 5.7%
5 Industrials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SEI
26
Solaris Energy Infrastructure
SEI
$3.52B
– –
-214,800
Closed -$2.6M
UWT
27
DELISTED
VelocityShares3x Long Crude Oil ETNs linked to the S&P GSCI Crude Oil Index ER
UWT
– –
-17,500
Closed -$156K
CJ
28
DELISTED
C&J Energy Services, Inc.
CJ
– –
-137,919
Closed -$1.86M
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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Covalent Partners's Q1 2019 Portfolio in Review

As of Q1 2019, Covalent Partners held 28 positions worth $52.5M, down 15% from $61.9M the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Covalent Partners deployed $44.7M of net new capital in Q1 2019, opening 3 new positions and adding to 5 existing holdings. Its largest new stake was EP Energy Corporation: 395,521 shares worth $103K.

By sector, the portfolio is most concentrated in Energy at 65% of assets, up from 58% a quarter earlier, followed by Real Estate and Consumer Discretionary.

On the sell side, the largest reduction was Lennar Class A, an estimated $3.48M trimmed.

  • Covalent Partners's largest Q1 2019 buy was EP Energy Corporation: 395,521 shares worth $103K.
  • Covalent Partners added most to Brightstar Lottery PLC in Q1 2019, an estimated $1.54M increase.
  • Covalent Partners's biggest Q1 2019 reduction was Lennar Class A, cutting an estimated $3.48M.
  • Covalent Partners fully exited AGCO in Q1 2019, selling an estimated $3.32M.
  • Covalent Partners's ten largest holdings make up 90% of its $52.5M portfolio in Q1 2019.
  • Covalent Partners opened 3 new positions and closed 8 in Q1 2019.
  • Covalent Partners's portfolio value fell 15% quarter-over-quarter to $52.5M.

Based on Covalent Partners's 13F filing for Q1 2019, filed 15 May 2019.