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CP

Covalent Partners Portfolio holdings

AUM $17.6M Turnover 18.75%
1-Year Est. Return 2.91%
This Fund
S&P 500
This Quarter Est. Return
+14.09%
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
$57.4M
AUM Growth
+$21M
Cap. Flow
+$7.47M
Cap. Flow %
13%
Top 10 Hldgs %
55.12%
Holding
56
New
34
Increased
3
Reduced
2
Closed
9
Avg Time Held Equity + Options
0.3 years
Top 10 Avg Time Held Equity + Options
0.3 years
Top 20 Avg Time Held Equity + Options
0.5 years
Avg Time Held Equity only
0.3 years
Top 10 Avg Time Held Equity only
0.6 years
Top 20 Avg Time Held Equity only
0.5 years

Top Buys

Rank Stock Value
1
MAAC
Montes Archimedes Acquisition Corp. Class A Common Stock
MAAC
+$3.05M
2
AGAC
African Gold Acquisition Corp
AGAC
+$2.39M
3
BRPMU
B. Riley Principal 150 Merger Corp. Unit
BRPMU
+$2.04M
4
DHI icon
D.R. Horton
DHI
+$1.96M
5
CCVI.U
Churchill Capital Corp VI Units, each consisting of one share of Class A common stock, and one-fifth of one redeemable warrant
CCVI.U
+$1.95M

Top Sells

Rank Stock Value
1
CYXT
Cyxtera Technologies, Inc. Class A Common Stock
CYXT
+$3.17M
2
MAACU
Montes Archimedes Acquisition Corp. Unit
MAACU
+$2.1M
3
LCID icon
Lucid Motors
LCID
+$2M
4
FST
FAST Acquisition Corp.
FST
+$1.79M
5
LVOX
LiveVox Holding, Inc. Class A Common Stock
LVOX
+$1.04M

Sector Composition

Rank Sector Weight
1 Miscellaneous 32.72%
2 Financials 27.18%
3 Industrials 12.15%
4 Consumer Discretionary 10.74%
5 Materials 9.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
CRC icon
26
California Resources
CRC
$4.72B
$457K 0.8%
18,974
– –
2020 Q4
1 quarter
PR icon
27
Permian Resources
PR
$19.8B
$420K 0.73%
100,000
– –
2018 Q3
10 quarters
NXU.U icon
28
DELISTED
Novus Capital Corporation II Units, each consisting of one share of Class A common stock and one thi
NXU.U
$300K 0.52%
+30,000
New +$313K
2021 Q1
0 quarters
EAC
29
DELISTED
Edify Acquisition Corp. Class A Common Stock
EAC
$291K 0.51%
+30,000
New +$293K
2021 Q1
0 quarters
IWM icon
30
PUT
iShares Russell 2000 ETF
IWM
$77.5B
$276K 0.48%
74,500
-36,500
-33% -$7.97M
2020 Q1
4 quarters
BSN.WS
31
DELISTED
Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share
BSN.WS
$113K 0.2%
164,100
– –
2020 Q4
1 quarter
CFVIU
32
DELISTED
CF Acquisition Corp. VI Unit
CFVIU
$99K 0.17%
+10,000
New +$101K
2021 Q1
0 quarters
FSNB.U
33
DELISTED
Fusion Acquisition Corp. II Units, each consisting of one share of Class A common stock and one-third of one redeemable warrant
FSNB.U
$99K 0.17%
+10,000
New +$99.8K
2021 Q1
0 quarters
AGAC.WS
34
DELISTED
African Gold Acquisition Corp Warrants
AGAC.WS
$90K 0.16%
+187,500
New +$98.6K
2021 Q1
0 quarters
MAACW
35
DELISTED
Montes Archimedes Acquisition Corp. Warrant
MAACW
$85K 0.15%
+100,000
New +$140K
2021 Q1
0 quarters
QQQ icon
36
PUT
Invesco QQQ Trust
QQQ
$487B
$57K 0.1%
+13,000
New +$4.16M
2021 Q1
0 quarters
TMAC.WS
37
DELISTED
The Music Acquisition Corporation Redeemable warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50
TMAC.WS
$53K 0.09%
+87,500
New +$57.1K
2021 Q1
0 quarters
SLCRW
38
DELISTED
Silver Crest Acquisition Corporation Warrant
SLCRW
$51K 0.09%
+100,067
New +$62.4K
2021 Q1
0 quarters
TZPSW
39
DELISTED
TZP Strategies Acquisition Corp. Warrant
TZPSW
$21K 0.04%
+35,000
New +$30.8K
2021 Q1
0 quarters
MONDW icon
40
DELISTED
Mondee Holdings, Inc. Warrant
MONDW
$21K 0.04%
+25,000
New +$18.1K
2021 Q1
0 quarters
MONCW
41
DELISTED
Monument Circle Acquisition Corp. Warrant
MONCW
$19K 0.03%
+37,500
New +$22.3K
2021 Q1
0 quarters
PTEN icon
42
PUT
Patterson-UTI
PTEN
$4.31B
$18K 0.03%
+236,700
New +$1.67M
2021 Q1
0 quarters
CAHCW
43
DELISTED
CA Healthcare Acquisition Corp. Warrant
CAHCW
$15K 0.03%
+27,500
New +$20.9K
2021 Q1
0 quarters
EACPW
44
DELISTED
Edify Acquisition Corp. Warrant
EACPW
$8K 0.01%
+15,000
New +$8.78K
2021 Q1
0 quarters
OXY icon
45
PUT
Occidental Petroleum
OXY
$60.6B
$3K 0.01%
+10,000
New +$250K
2021 Q1
0 quarters
AAL icon
46
PUT
American Airlines Group
AAL
$8.13B
– –
-980,000
Closed -$10K –
LCID icon
47
Lucid Motors
LCID
$1.38B
– –
-20,000
Closed -$2M –
PXD icon
48
DELISTED
Pioneer Natural Resource Co.
PXD
– –
-4,500
Closed -$513K –
LVOX
49
DELISTED
LiveVox Holding, Inc. Class A Common Stock
LVOX
– –
-100,000
Closed -$1.04M –
CYXT
50
DELISTED
Cyxtera Technologies, Inc. Class A Common Stock
CYXT
– –
-305,820
Closed -$3.17M –
1
2
3

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HAM
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BCA
Boundary Creek Advisors New York $15.3M AUM 0.41% 1-Year Est. Return
BCM
BCK Capital Management Stamford, Connecticut $23M AUM 33.03% 1-Year Est. Return
MS
Mizuho Securities Tokyo, Japan $7.68M AUM 15.91% 1-Year Est. Return
RA
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AIIC
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HFA
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Covalent Partners's Q1 2021 Portfolio in Review

As of Q1 2021, Covalent Partners held 56 positions worth $57.4M, up 58% from $36.4M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Covalent Partners deployed $7.47M of net new capital in Q1 2021, opening 34 new positions and adding to 3 existing holdings. Its largest new stake was Montes Archimedes Acquisition Corp. Class A Common Stock: 300,000 shares worth $2.93M.

By sector, the portfolio is most concentrated in Miscellaneous at 33% of assets, up from 31% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was NexTier Oilfield Solutions Inc., an estimated $889K trimmed.

  • Covalent Partners's largest Q1 2021 buy was Montes Archimedes Acquisition Corp. Class A Common Stock: 300,000 shares worth $2.93M.
  • Covalent Partners added most to Cornerstone Building Brands, Inc. in Q1 2021, an estimated $606K increase.
  • Covalent Partners's biggest Q1 2021 reduction was NexTier Oilfield Solutions Inc., cutting an estimated $889K.
  • Covalent Partners fully exited Cyxtera Technologies, Inc. Class A Common Stock in Q1 2021, selling an estimated $3.17M.
  • Covalent Partners's ten largest holdings make up 55% of its $57.4M portfolio in Q1 2021.
  • Covalent Partners opened 34 new positions and closed 9 in Q1 2021.
  • Covalent Partners's portfolio value rose 58% quarter-over-quarter to $57.4M.

Based on Covalent Partners's 13F filing for Q1 2021, filed 17 May 2021.