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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
+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
-$20.2M
Cap. Flow %
-38.52%
Top 10 Hldgs %
89.86%
Holding
28
New
3
Increased
5
Reduced
10
Closed
8
Avg Time Held Equity + Options
5.7 quarters
Top 10 Avg Time Held Equity + Options
3.5 quarters
Top 20 Avg Time Held Equity + Options
4.4 quarters
Avg Time Held Equity only
6.8 quarters
Top 10 Avg Time Held Equity only
3.5 quarters
Top 20 Avg Time Held Equity only
5.8 quarters

Top Buys

Rank Stock Value
1
BRSL icon
Brightstar Lottery PLC
BRSL
+$1.54M
2
PXD icon
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 icon
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 Miscellaneous 1.84%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
SEI icon
26
Solaris Energy Infrastructure
SEI
$5.03B
– –
-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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HFA
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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 withdrew a net $20.2M in Q1 2019, closing 8 positions and reducing 10 holdings. Its most notable exit was AGCO, an estimated $3.32M position sold in full.

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.

Against the trend, Covalent Partners opened a new position in EP Energy Corporation worth $103K.

  • 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.