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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
+4.96%
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
+$168K
Cap. Flow
-$12.8M
Cap. Flow %
-10.8%
Top 10 Hldgs %
70.71%
Holding
68
New
5
Increased
4
Reduced
7
Closed
9

Top Buys

Rank Stock Value
1
HTZ icon
Hertz
HTZ
+$3.78M
2
CCL icon
Carnival Corporation Ltd
CCL
+$1.01M
3
DHI icon
D.R. Horton
DHI
+$494K
4
DAOO
Crypto 1 Acquisition Corp Class A Ordinary Shares
DAOO
+$492K
5
GTIM icon
Good Times Restaurants
GTIM
+$462K

Top Sells

Rank Stock Value
1
CNR
Cornerstone Building Brands, Inc.
CNR
+$3.23M
2
MVBF icon
MVB Financial
MVBF
+$2.28M
3
NEX
NexTier Oilfield Solutions Inc.
NEX
+$1.98M
4
UFPI icon
UFP Industries
UFPI
+$1.25M
5
FAZE
FaZe Holdings Inc. Common Stock
FAZE
+$1.01M

Sector Composition

Rank Sector Weight
1 Financials 12.2%
2 Industrials 8.87%
3 Consumer Discretionary 7.9%
4 Energy 5.23%
5 Materials 3.56%
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
$734K 0.62%
75,000
– –
LUV icon
27
Southwest Airlines
LUV
$19.9B
$595K 0.5%
13,000
-12,000
-48% -$527K
GTIM icon
28
Good Times Restaurants
GTIM
$15.9M
$541K 0.46%
154,500
+109,000
+240% +$462K
DAOO
29
DELISTED
Crypto 1 Acquisition Corp Class A Ordinary Shares
DAOO
$495K 0.42%
+50,000
New +$492K
NINE
30
DELISTED
Nine Energy Service
NINE
$468K 0.4%
+125,201
New +$236K
AEAE
31
DELISTED
AltEnergy Acquisition Corp
AEAE
$448K 0.38%
45,000
– –
PDEX icon
32
Pro-Dex
PDEX
$213M
$331K 0.28%
20,000
– –
NE icon
33
Noble Corp
NE
$7.34B
$157K 0.13%
4,475
– –
EVTL.WS
34
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
$129K 0.11%
164,100
– –
ROIVW
35
DELISTED
Roivant Sciences Ltd. Warrant
ROIVW
$88K 0.07%
100,000
– –
COIN icon
36
Coinbase
COIN
$47.4B
$76K 0.06%
400
– –
CIFRW
37
DELISTED
Cipher Mining Warrant
CIFRW
$68K 0.06%
100,000
– –
FAZEW
38
DELISTED
FaZe Holdings Inc. Warrant
FAZEW
$59K 0.05%
65,000
– –
SLCRW
39
DELISTED
Silver Crest Acquisition Corporation Warrant
SLCRW
$50K 0.04%
110,000
– –
AGAC.WS
40
DELISTED
African Gold Acquisition Corp Warrants
AGAC.WS
$38K 0.03%
187,500
– –
CCVI.WS
41
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
$25K 0.02%
40,000
– –
LMDXW
42
DELISTED
LumiraDx Limited Warrant
LMDXW
$24K 0.02%
27,500
– –
ACII.WS
43
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
$23K 0.02%
68,294
– –
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
$19K 0.02%
87,500
– –
SKYAW
45
DELISTED
Skydeck Acquisition Corp. Warrants
SKYAW
$16K 0.01%
45,900
– –
COVAW
46
DELISTED
COVA Acquisition Corp. Warrants to purchase Class A ordinary shares
COVAW
$14K 0.01%
75,000
– –
EVOJW
47
DELISTED
Evo Acquisition Corp. Warrant
EVOJW
$9K 0.01%
50,000
– –
SPKBW
48
DELISTED
Silver Spike Acquisition Corp II Warrant
SPKBW
$9K 0.01%
27,500
– –
TZPSW
49
DELISTED
TZP Strategies Acquisition Corp. Warrant
TZPSW
$9K 0.01%
35,000
– –
DAOOW
50
DELISTED
Crypto 1 Acquisition Corp Warrants
DAOOW
$9K 0.01%
+37,500
New +$12.4K
1
2
3

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Covalent Partners's Q1 2022 Portfolio in Review

As of Q1 2022, Covalent Partners held 68 positions worth $118M, up 0.14% from $118M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Covalent Partners withdrew a net $12.8M in Q1 2022, closing 9 positions and reducing 7 holdings. Its most notable exit was Cornerstone Building Brands, Inc., an estimated $3.23M position sold in full.

By sector, the portfolio is most concentrated in Financials at 12% of assets, down from 14% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Covalent Partners opened a new position in Hertz worth $3.99M.

  • Covalent Partners's largest Q1 2022 buy was Hertz: 180,000 shares worth $3.99M.
  • Covalent Partners added most to Carnival Corporation Ltd in Q1 2022, an estimated $1.01M increase.
  • Covalent Partners's biggest Q1 2022 reduction was NexTier Oilfield Solutions Inc., cutting an estimated $1.98M.
  • Covalent Partners fully exited Cornerstone Building Brands, Inc. in Q1 2022, selling an estimated $3.23M.
  • Covalent Partners's ten largest holdings make up 71% of its $118M portfolio in Q1 2022.
  • Covalent Partners opened 5 new positions and closed 9 in Q1 2022.
  • Covalent Partners's portfolio value rose 0.14% quarter-over-quarter to $118M.

Based on Covalent Partners's 13F filing for Q1 2022, filed 16 May 2022.