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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
+5.99%
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
$114M
AUM Growth
+$56.7M
Cap. Flow
+$38.7M
Cap. Flow %
33.93%
Top 10 Hldgs %
72.33%
Holding
73
New
27
Increased
4
Reduced
4
Closed
14

Top Buys

Rank Stock Value
1
ACII
Atlas Crest Investment Corp. II
ACII
+$2.51M
2
CCVI
Churchill Capital Corp VI
CCVI
+$1.99M
3
FAZE
FaZe Holdings Inc. Common Stock
FAZE
+$1.96M
4
BYD icon
Boyd Gaming
BYD
+$1.73M
5
DHI icon
D.R. Horton
DHI
+$1.69M

Top Sells

Rank Stock Value
1
MAAC
Montes Archimedes Acquisition Corp. Class A Common Stock
MAAC
+$2.93M
2
BSN
Broadstone Acquisition Corp.
BSN
+$2.05M
3
BRPMU
B. Riley Principal 150 Merger Corp. Unit
BRPMU
+$2M
4
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
+$1.82M
5
COVAU
COVA Acquisition Corp. Unit
COVAU
+$1.49M

Sector Composition

Rank Sector Weight
1 Financials 16.87%
2 Consumer Discretionary 8.55%
3 Industrials 6.62%
4 Materials 5%
5 Energy 3.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MON
26
DELISTED
Monument Circle Acquisition Corp. Class A Common Stock
MON
$727K 0.64%
75,000
– –
PR
27
Permian Resources
PR
$19.8B
$678K 0.59%
100,000
– –
CRC icon
28
California Resources
CRC
$4.65B
$572K 0.5%
18,974
– –
FTAA
29
DELISTED
FTAC Athena Acquisition Corp. Class A Ordinary Share
FTAA
$493K 0.43%
+50,000
New +$493K
MOND
30
DELISTED
Mondee Holdings, Inc. Class A Common Stock
MOND
$486K 0.43%
50,000
– –
NRGV icon
31
Energy Vault
NRGV
$662M
$292K 0.26%
+30,000
New +$293K
EAC
32
DELISTED
Edify Acquisition Corp. Class A Common Stock
EAC
$290K 0.25%
30,000
– –
BSN.WS
33
DELISTED
Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share
BSN.WS
$197K 0.17%
164,100
– –
PTEN icon
34
PUT
Patterson-UTI
PTEN
$4.52B
$175K 0.15%
17,600
-219,100
-93% -$1.85M
CIFRW
35
DELISTED
Cipher Mining Warrant
CIFRW
$168K 0.15%
+100,000
New +$178K
MAACW
36
DELISTED
Montes Archimedes Acquisition Corp. Warrant
MAACW
$154K 0.13%
100,000
– –
AGAC.WS
37
DELISTED
African Gold Acquisition Corp Warrants
AGAC.WS
$118K 0.1%
187,500
– –
FSNB
38
DELISTED
Fusion Acquisition Corp. II
FSNB
$116K 0.1%
+12,000
New +$116K
NE icon
39
Noble Corp
NE
$7.34B
$111K 0.1%
+4,475
New +$111K
COIN icon
40
Coinbase
COIN
$47.4B
$101K 0.09%
+400
New +$104K
RUM icon
41
RUM Group Inc
RUM
$4.64B
$98K 0.09%
+10,000
New +$97.7K
SLCRW
42
DELISTED
Silver Crest Acquisition Corporation Warrant
SLCRW
$85K 0.07%
100,067
– –
FAZEW
43
DELISTED
FaZe Holdings Inc. Warrant
FAZEW
$80K 0.07%
+67,000
New +$67.9K
TMAC.WS
44
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
$74K 0.06%
87,500
– –
ACII.WS
45
DELISTED
Atlas Crest Investment Corp. II Redeemable Warrants, each whole warrant exercisable for one Class A common stock at an exercise price of $11.50
ACII.WS
$73K 0.06%
+63,750
New +$67.1K
COVAW
46
DELISTED
COVA Acquisition Corp. Warrants to purchase Class A ordinary shares
COVAW
$67K 0.06%
+75,000
New +$52.2K
CCVI.WS
47
DELISTED
Churchill Capital Corp VI Warrants, each exercisable for one share of Class A common stock at an exercise price of $11.50 per share
CCVI.WS
$56K 0.05%
+40,000
New +$54K
SPKBW
48
DELISTED
Silver Spike Acquisition Corp II Warrant
SPKBW
$37K 0.03%
+27,500
New +$31.9K
EVOJW
49
DELISTED
Evo Acquisition Corp. Warrant
EVOJW
$31K 0.03%
+50,000
New +$29.3K
TZPSW
50
DELISTED
TZP Strategies Acquisition Corp. Warrant
TZPSW
$28K 0.02%
35,000
– –
1
2
3

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HAM
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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 Q2 2021 Portfolio in Review

As of Q2 2021, Covalent Partners held 73 positions worth $114M, up 99% from $57.4M the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Covalent Partners deployed $38.7M of net new capital in Q2 2021, opening 27 new positions and adding to 4 existing holdings. Its largest new stake was Atlas Crest Investment Corp. II: 255,000 shares worth $2.49M.

By sector, the portfolio is most concentrated in Financials at 17% of assets, down from 27% a quarter earlier, followed by Consumer Discretionary and Industrials.

On the sell side, the largest reduction was Broadstone Acquisition Corp., an estimated $2.05M trimmed.

  • Covalent Partners's largest Q2 2021 buy was Atlas Crest Investment Corp. II: 255,000 shares worth $2.49M.
  • Covalent Partners added most to D.R. Horton in Q2 2021, an estimated $1.69M increase.
  • Covalent Partners's biggest Q2 2021 reduction was Broadstone Acquisition Corp., cutting an estimated $2.05M.
  • Covalent Partners fully exited Montes Archimedes Acquisition Corp. Class A Common Stock in Q2 2021, selling an estimated $2.93M.
  • Covalent Partners's ten largest holdings make up 72% of its $114M portfolio in Q2 2021.
  • Covalent Partners opened 27 new positions and closed 14 in Q2 2021.
  • Covalent Partners's portfolio value rose 99% quarter-over-quarter to $114M.

Based on Covalent Partners's 13F filing for Q2 2021, filed 16 Aug 2021.