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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
+3.87%
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
$118M
AUM Growth
+$57.8M
Cap. Flow
+$44.6M
Cap. Flow %
37.79%
Top 10 Hldgs %
63.67%
Holding
67
New
10
Increased
4
Reduced
4
Closed
3

Top Buys

Rank Stock Value
1
DAL icon
Delta Air Lines
DAL
+$1.72M
2
LUV icon
Southwest Airlines
LUV
+$1.17M
3
HP icon
Helmerich & Payne
HP
+$869K
4
DAOOU
Crypto 1 Acquisition Corp Unit
DAOOU
+$507K
5
AEAE
AltEnergy Acquisition Corp
AEAE
+$446K

Top Sells

Rank Stock Value
1
UFPI icon
UFP Industries
UFPI
+$1.77M
2
CCL icon
Carnival Corporation Ltd
CCL
+$1.44M
3
FAZE
FaZe Holdings Inc. Common Stock
FAZE
+$510K
4
BSN.WS
Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share
BSN.WS
+$177K
5
MAACW
Montes Archimedes Acquisition Corp. Warrant
MAACW
+$149K

Sector Composition

Rank Sector Weight
1 Financials 14.36%
2 Industrials 9.28%
3 Consumer Discretionary 7.98%
4 Materials 5.3%
5 Energy 4.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CCL icon
26
Carnival Corporation Ltd
CCL
$35.2B
$1.01M 0.85%
50,000
-67,500
-57% -$1.44M
EVOJ
27
DELISTED
Evo Acquisition Corp. Class A Common Stock
EVOJ
$970K 0.82%
100,000
– –
CRC icon
28
California Resources
CRC
$4.65B
$810K 0.69%
18,974
– –
MON
29
DELISTED
Monument Circle Acquisition Corp. Class A Common Stock
MON
$732K 0.62%
75,000
– –
SLCR
30
DELISTED
Silver Crest Acquisition Corporation Class A Ordinary Share
SLCR
$687K 0.58%
70,000
– –
PR
31
Permian Resources
PR
$19.8B
$598K 0.51%
100,000
– –
DAOOU
32
DELISTED
Crypto 1 Acquisition Corp Unit
DAOOU
$505K 0.43%
+50,000
New +$507K
MOND
33
DELISTED
Mondee Holdings, Inc. Class A Common Stock
MOND
$491K 0.42%
50,000
– –
PDEX icon
34
Pro-Dex
PDEX
$213M
$464K 0.39%
20,000
– –
AEAE
35
DELISTED
AltEnergy Acquisition Corp
AEAE
$443K 0.38%
+45,000
New +$446K
GTIM icon
36
Good Times Restaurants
GTIM
$15.9M
$197K 0.17%
+45,500
New +$217K
CIFRW
37
DELISTED
Cipher Mining Warrant
CIFRW
$113K 0.1%
100,000
– –
EVTL.WS
38
DELISTED
Vertical Aerospace Ltd. Warrants, each whole warrant exercisable for 1/10th of an ordinary share at an exercise price of $115.00 per share
EVTL.WS
$112K 0.09%
+164,100
New +$158K
NE icon
39
Noble Corp
NE
$7.34B
$111K 0.09%
4,475
– –
COIN icon
40
Coinbase
COIN
$47.4B
$101K 0.09%
400
– –
FAZEW
41
DELISTED
FaZe Holdings Inc. Warrant
FAZEW
$94K 0.08%
65,000
-2,000
-3% -$3.5K
AGAC.WS
42
DELISTED
African Gold Acquisition Corp Warrants
AGAC.WS
$92K 0.08%
187,500
– –
SLCRW
43
DELISTED
Silver Crest Acquisition Corporation Warrant
SLCRW
$67K 0.06%
110,000
– –
ACII.WS
44
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
$56K 0.05%
68,294
– –
LMDXW
45
DELISTED
LumiraDx Limited Warrant
LMDXW
$50K 0.04%
27,500
– –
TMAC.WS
46
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
$49K 0.04%
87,500
– –
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
$41K 0.03%
40,000
– –
SKYAW
48
DELISTED
Skydeck Acquisition Corp. Warrants
SKYAW
$38K 0.03%
45,900
– –
COVAW
49
DELISTED
COVA Acquisition Corp. Warrants to purchase Class A ordinary shares
COVAW
$37K 0.03%
75,000
– –
EVOJW
50
DELISTED
Evo Acquisition Corp. Warrant
EVOJW
$24K 0.02%
50,000
– –
1
2
3

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Covalent Partners's Q4 2021 Portfolio in Review

As of Q4 2021, Covalent Partners held 67 positions worth $118M, up 96% from $60.2M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Covalent Partners deployed $44.6M of net new capital in Q4 2021, opening 10 new positions and adding to 4 existing holdings. Its largest new stake was Southwest Airlines: 25,000 shares worth $1.07M.

By sector, the portfolio is most concentrated in Financials at 14% of assets, down from 27% a quarter earlier, followed by Industrials and Consumer Discretionary.

On the sell side, the largest reduction was UFP Industries, an estimated $1.77M trimmed.

  • Covalent Partners's largest Q4 2021 buy was Southwest Airlines: 25,000 shares worth $1.07M.
  • Covalent Partners added most to Delta Air Lines in Q4 2021, an estimated $1.72M increase.
  • Covalent Partners's biggest Q4 2021 reduction was UFP Industries, cutting an estimated $1.77M.
  • Covalent Partners fully exited Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share in Q4 2021, selling an estimated $177K.
  • Covalent Partners's ten largest holdings make up 64% of its $118M portfolio in Q4 2021.
  • Covalent Partners opened 10 new positions and closed 3 in Q4 2021.
  • Covalent Partners's portfolio value rose 96% quarter-over-quarter to $118M.

Based on Covalent Partners's 13F filing for Q4 2021, filed 14 Feb 2022.