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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
-3.18%
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
$60.2M
AUM Growth
-$53.9M
Cap. Flow
-$53.6M
Cap. Flow %
-88.95%
Top 10 Hldgs %
55.9%
Holding
64
New
5
Increased
6
Reduced
8
Closed
10

Top Buys

Rank Stock Value
1
HP icon
Helmerich & Payne
HP
+$1.74M
2
SKYA
Skydeck Acquisition Corp. Class A Ordinary Shares
SKYA
+$1.33M
3
DAL icon
Delta Air Lines
DAL
+$1.04M
4
UFPI icon
UFP Industries
UFPI
+$1.02M
5
BYD icon
Boyd Gaming
BYD
+$919K

Top Sells

Rank Stock Value
1
SKYAU
Skydeck Acquisition Corp. Units
SKYAU
+$1.38M
2
SLCR
Silver Crest Acquisition Corporation Class A Ordinary Share
SLCR
+$1.27M
3
BSN
Broadstone Acquisition Corp.
BSN
+$1.19M
4
NEX
NexTier Oilfield Solutions Inc.
NEX
+$611K
5
ACII
Atlas Crest Investment Corp. II
ACII
+$535K

Sector Composition

Rank Sector Weight
1 Financials 27.49%
2 Consumer Discretionary 15.92%
3 Industrials 13.33%
4 Materials 10.35%
5 Energy 8.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SLCR
26
DELISTED
Silver Crest Acquisition Corporation Class A Ordinary Share
SLCR
$688K 1.14%
70,000
-130,134
-65% -$1.27M
PR
27
Permian Resources
PR
$19.8B
$670K 1.11%
100,000
– –
PDEX icon
28
Pro-Dex
PDEX
$213M
$513K 0.85%
+20,000
New +$568K
MOND
29
DELISTED
Mondee Holdings, Inc. Class A Common Stock
MOND
$488K 0.81%
50,000
– –
CIFRW
30
DELISTED
Cipher Mining Warrant
CIFRW
$228K 0.38%
100,000
– –
BSN.WS
31
DELISTED
Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share
BSN.WS
$177K 0.29%
164,100
– –
MAACW
32
DELISTED
Montes Archimedes Acquisition Corp. Warrant
MAACW
$149K 0.25%
100,000
– –
NE icon
33
Noble Corp
NE
$7.34B
$121K 0.2%
4,475
– –
COIN icon
34
Coinbase
COIN
$47.4B
$91K 0.15%
400
– –
AGAC.WS
35
DELISTED
African Gold Acquisition Corp Warrants
AGAC.WS
$90K 0.15%
187,500
– –
SLCRW
36
DELISTED
Silver Crest Acquisition Corporation Warrant
SLCRW
$73K 0.12%
110,000
+9,933
+10% +$7.08K
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
$65K 0.11%
87,500
– –
ACII.WS
38
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
$58K 0.1%
68,294
+4,544
+7% +$4.82K
FAZEW
39
DELISTED
FaZe Holdings Inc. Warrant
FAZEW
$52K 0.09%
67,000
– –
CCVI.WS
40
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
$48K 0.08%
40,000
– –
COVAW
41
DELISTED
COVA Acquisition Corp. Warrants to purchase Class A ordinary shares
COVAW
$44K 0.07%
75,000
– –
SKYAW
42
DELISTED
Skydeck Acquisition Corp. Warrants
SKYAW
$34K 0.06%
+45,900
New +$44.1K
LMDXW
43
DELISTED
LumiraDx Limited Warrant
LMDXW
$32K 0.05%
+27,500
New +$31.9K
SPKBW
44
DELISTED
Silver Spike Acquisition Corp II Warrant
SPKBW
$30K 0.05%
27,500
– –
EVOJW
45
DELISTED
Evo Acquisition Corp. Warrant
EVOJW
$28K 0.05%
50,000
– –
TZPSW
46
DELISTED
TZP Strategies Acquisition Corp. Warrant
TZPSW
$22K 0.04%
35,000
– –
MONCW
47
DELISTED
Monument Circle Acquisition Corp. Warrant
MONCW
$21K 0.03%
37,500
– –
MONDW
48
DELISTED
Mondee Holdings, Inc. Warrant
MONDW
$16K 0.03%
25,000
– –
NXU.WS
49
DELISTED
Novus Capital Corporation II Redeemable warrants, each whole warrant exercisable for shares of Class
NXU.WS
$11K 0.02%
10,000
– –
EACPW
50
DELISTED
Edify Acquisition Corp. Warrant
EACPW
$9K 0.01%
15,000
– –
1
2
3

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Covalent Partners's Q3 2021 Portfolio in Review

As of Q3 2021, Covalent Partners held 64 positions worth $60.2M, down 47% from $114M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Covalent Partners withdrew a net $53.6M in Q3 2021, closing 10 positions and reducing 8 holdings. Its most notable exit was Skydeck Acquisition Corp. Units, an estimated $1.38M position sold in full.

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

Against the trend, Covalent Partners opened a new position in Helmerich & Payne worth $1.71M.

  • Covalent Partners's largest Q3 2021 buy was Helmerich & Payne: 62,500 shares worth $1.71M.
  • Covalent Partners added most to Delta Air Lines in Q3 2021, an estimated $1.04M increase.
  • Covalent Partners's biggest Q3 2021 reduction was Silver Crest Acquisition Corporation Class A Ordinary Share, cutting an estimated $1.27M.
  • Covalent Partners fully exited Skydeck Acquisition Corp. Units in Q3 2021, selling an estimated $1.38M.
  • Covalent Partners's ten largest holdings make up 56% of its $60.2M portfolio in Q3 2021.
  • Covalent Partners opened 5 new positions and closed 10 in Q3 2021.
  • Covalent Partners's portfolio value fell 47% quarter-over-quarter to $60.2M.

Based on Covalent Partners's 13F filing for Q3 2021, filed 15 Nov 2021.