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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
+$1.22M
Cap. Flow %
1.07%
Top 10 Hldgs %
72.33%
Holding
73
New
27
Increased
4
Reduced
4
Closed
14
Avg Time Held Equity + Options
1.3 quarters
Top 10 Avg Time Held Equity + Options
0.7 quarters
Top 20 Avg Time Held Equity + Options
2.2 quarters
Avg Time Held Equity only
1.3 quarters
Top 10 Avg Time Held Equity only
2.2 quarters
Top 20 Avg Time Held Equity only
2.3 quarters

Top Buys

Rank Stock Value
1
ACII icon
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 Miscellaneous 56.26%
2 Financials 16.87%
3 Consumer Discretionary 8.55%
4 Industrials 6.62%
5 Materials 5%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
MON
26
DELISTED
Monument Circle Acquisition Corp. Class A Common Stock
MON
$727K 0.64%
75,000
– –
2021 Q1
1 quarter
PR icon
27
Permian Resources
PR
$19.3B
$678K 0.59%
100,000
– –
2018 Q3
11 quarters
CRC icon
28
California Resources
CRC
$4.7B
$572K 0.5%
18,974
– –
2020 Q4
2 quarters
FTAA
29
DELISTED
FTAC Athena Acquisition Corp. Class A Ordinary Share
FTAA
$493K 0.43%
+50,000
New +$493K
2021 Q2
0 quarters
MOND icon
30
DELISTED
Mondee Holdings, Inc. Class A Common Stock
MOND
$486K 0.43%
50,000
– –
2021 Q1
1 quarter
NRGV icon
31
Energy Vault
NRGV
$591M
$292K 0.26%
+30,000
New +$293K
2021 Q2
0 quarters
EAC
32
DELISTED
Edify Acquisition Corp. Class A Common Stock
EAC
$290K 0.25%
30,000
– –
2021 Q1
1 quarter
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
– –
2020 Q4
2 quarters
PTEN icon
34
PUT
Patterson-UTI
PTEN
$4.31B
$175K 0.15%
17,600
-219,100
-93% -$1.85M
2021 Q1
1 quarter
CIFRW icon
35
DELISTED
Cipher Mining Warrant
CIFRW
$168K 0.15%
+100,000
New +$178K
2021 Q2
0 quarters
MAACW
36
DELISTED
Montes Archimedes Acquisition Corp. Warrant
MAACW
$154K 0.13%
100,000
– –
2021 Q1
1 quarter
AGAC.WS
37
DELISTED
African Gold Acquisition Corp Warrants
AGAC.WS
$118K 0.1%
187,500
– –
2021 Q1
1 quarter
FSNB
38
DELISTED
Fusion Acquisition Corp. II
FSNB
$116K 0.1%
+12,000
New +$116K
2021 Q2
0 quarters
NE icon
39
Noble Corp
NE
$6.76B
$111K 0.1%
+4,475
New +$111K
2021 Q2
0 quarters
COIN icon
40
Coinbase
COIN
$47.3B
$101K 0.09%
+400
New +$104K
2021 Q2
0 quarters
RUM icon
41
RUM Group Inc
RUM
$3.45B
$98K 0.09%
+10,000
New +$97.7K
2021 Q2
0 quarters
SLCRW
42
DELISTED
Silver Crest Acquisition Corporation Warrant
SLCRW
$85K 0.07%
100,067
– –
2021 Q1
1 quarter
FAZEW
43
DELISTED
FaZe Holdings Inc. Warrant
FAZEW
$80K 0.07%
+67,000
New +$67.9K
2021 Q2
0 quarters
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
– –
2021 Q1
1 quarter
ACII.WS icon
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
2021 Q2
0 quarters
COVAW
46
DELISTED
COVA Acquisition Corp. Warrants to purchase Class A ordinary shares
COVAW
$67K 0.06%
+75,000
New +$52.2K
2021 Q2
0 quarters
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
2021 Q2
0 quarters
SPKBW
48
DELISTED
Silver Spike Acquisition Corp II Warrant
SPKBW
$37K 0.03%
+27,500
New +$31.9K
2021 Q2
0 quarters
EVOJW
49
DELISTED
Evo Acquisition Corp. Warrant
EVOJW
$31K 0.03%
+50,000
New +$29.3K
2021 Q2
0 quarters
TZPSW
50
DELISTED
TZP Strategies Acquisition Corp. Warrant
TZPSW
$28K 0.02%
35,000
– –
2021 Q1
1 quarter
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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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's Q2 2021 filing shows 27 new, 4 increased, 4 reduced and 14 closed positions. Its largest new stake was Atlas Crest Investment Corp. II: 255,000 shares worth $2.49M. The largest sale was Montes Archimedes Acquisition Corp. Class A Common Stock, an estimated $2.93M.

By sector, the portfolio is most concentrated in Miscellaneous at 56% of assets, up from 33% a quarter earlier, followed by Financials and Consumer Discretionary.

  • 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.