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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
+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
+$8.23M
Cap. Flow %
14.33%
Top 10 Hldgs %
55.12%
Holding
56
New
34
Increased
3
Reduced
2
Closed
9

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 Financials 27.18%
2 Industrials 12.15%
3 Consumer Discretionary 10.74%
4 Materials 9.18%
5 Energy 5.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRC icon
26
California Resources
CRC
$4.65B
$457K 0.8%
18,974
– –
PR
27
Permian Resources
PR
$19.8B
$420K 0.73%
100,000
– –
NXU.U
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
EAC
29
DELISTED
Edify Acquisition Corp. Class A Common Stock
EAC
$291K 0.51%
+30,000
New +$293K
IWM icon
30
PUT
iShares Russell 2000 ETF
IWM
$81.4B
$276K 0.48%
74,500
-36,500
-33% -$7.97M
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
– –
CFVIU
32
DELISTED
CF Acquisition Corp. VI Unit
CFVIU
$99K 0.17%
+10,000
New +$101K
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
AGAC.WS
34
DELISTED
African Gold Acquisition Corp Warrants
AGAC.WS
$90K 0.16%
+187,500
New +$98.6K
MAACW
35
DELISTED
Montes Archimedes Acquisition Corp. Warrant
MAACW
$85K 0.15%
+100,000
New +$140K
QQQ icon
36
PUT
Invesco QQQ Trust
QQQ
$483B
$57K 0.1%
+13,000
New +$4.16M
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
SLCRW
38
DELISTED
Silver Crest Acquisition Corporation Warrant
SLCRW
$51K 0.09%
+100,067
New +$62.4K
TZPSW
39
DELISTED
TZP Strategies Acquisition Corp. Warrant
TZPSW
$21K 0.04%
+35,000
New +$30.8K
MONDW
40
DELISTED
Mondee Holdings, Inc. Warrant
MONDW
$21K 0.04%
+25,000
New +$18.1K
MONCW
41
DELISTED
Monument Circle Acquisition Corp. Warrant
MONCW
$19K 0.03%
+37,500
New +$22.3K
PTEN icon
42
PUT
Patterson-UTI
PTEN
$4.52B
$18K 0.03%
+236,700
New +$1.67M
CAHCW
43
DELISTED
CA Healthcare Acquisition Corp. Warrant
CAHCW
$15K 0.03%
+27,500
New +$20.9K
EACPW
44
DELISTED
Edify Acquisition Corp. Warrant
EACPW
$8K 0.01%
+15,000
New +$8.78K
OXY icon
45
PUT
Occidental Petroleum
OXY
$60.1B
$3K 0.01%
+10,000
New +$250K
AAL icon
46
PUT
American Airlines Group
AAL
$9.02B
– –
-980,000
Closed -$10K
LCID icon
47
Lucid Motors
LCID
$2.01B
– –
-20,000
Closed -$2M
PXD
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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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 $8.23M 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 Financials at 27% of assets, up from 16% a quarter earlier, followed by Industrials and Consumer Discretionary.

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.