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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
-7.05%
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
$80.3M
AUM Growth
-$37.9M
Cap. Flow
-$37.5M
Cap. Flow %
-46.7%
Top 10 Hldgs %
83.03%
Holding
64
New
5
Increased
1
Reduced
8
Closed
15
Avg Time Held Equity + Options
3.6 quarters
Top 10 Avg Time Held Equity + Options
1.6 quarters
Top 20 Avg Time Held Equity + Options
2.1 quarters
Avg Time Held Equity only
3.9 quarters
Top 10 Avg Time Held Equity only
2.2 quarters
Top 20 Avg Time Held Equity only
2.4 quarters

Top Buys

Rank Stock Value
1
IWM icon
iShares Russell 2000 ETF
IWM
+$553K
2
NINE
Nine Energy Service
NINE
+$225K

Top Sells

Rank Stock Value
1
HTZ icon
Hertz
HTZ
+$3.99M
2
HP icon
Helmerich & Payne
HP
+$3M
3
UFPI icon
UFP Industries
UFPI
+$2.83M
4
CCL icon
Carnival Corporation Ltd
CCL
+$2.02M
5
AGAC
African Gold Acquisition Corp
AGAC
+$1.96M

Sector Composition

Rank Sector Weight
1 Miscellaneous 77.43%
2 Financials 10.86%
3 Consumer Discretionary 4.79%
4 Industrials 3.43%
5 Energy 2.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ROIVW
26
DELISTED
Roivant Sciences Ltd. Warrant
ROIVW
$60K 0.07%
100,000
– –
2021 Q4
2 quarters
LMDXW
27
DELISTED
LumiraDx Limited Warrant
LMDXW
$26K 0.03%
27,500
– –
2021 Q3
3 quarters
FAZEW
28
DELISTED
FaZe Holdings Inc. Warrant
FAZEW
$24K 0.03%
65,000
– –
2021 Q2
4 quarters
SLCRW
29
DELISTED
Silver Crest Acquisition Corporation Warrant
SLCRW
$24K 0.03%
110,000
– –
2021 Q1
5 quarters
CIFRW
30
DELISTED
Cipher Mining Warrant
CIFRW
$19K 0.02%
100,000
– –
2021 Q2
4 quarters
COIN icon
31
Coinbase
COIN
$47.3B
$19K 0.02%
400
– –
2021 Q2
4 quarters
AGAC.WS
32
DELISTED
African Gold Acquisition Corp Warrants
AGAC.WS
$15K 0.02%
187,500
– –
2021 Q1
5 quarters
CCVI.WS
33
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
$14K 0.02%
40,000
– –
2021 Q2
4 quarters
ACII.WS
34
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
$10K 0.01%
68,294
– –
2021 Q2
4 quarters
SKYAW
35
DELISTED
Skydeck Acquisition Corp. Warrants
SKYAW
$8K 0.01%
45,900
– –
2021 Q3
3 quarters
COVAW
36
DELISTED
COVA Acquisition Corp. Warrants to purchase Class A ordinary shares
COVAW
$8K 0.01%
75,000
– –
2021 Q2
4 quarters
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
$8K 0.01%
87,500
– –
2021 Q1
5 quarters
MONDW
38
DELISTED
Mondee Holdings, Inc. Warrant
MONDW
$7K 0.01%
25,000
– –
2021 Q1
5 quarters
DAOOW
39
DELISTED
Crypto 1 Acquisition Corp Warrants
DAOOW
$5K 0.01%
37,500
– –
2022 Q1
1 quarter
AEAEW
40
DELISTED
AltEnergy Acquisition Corp Warrant
AEAEW
$4K 0.01%
22,500
– –
2021 Q4
2 quarters
EVOJW
41
DELISTED
Evo Acquisition Corp. Warrant
EVOJW
$4K 0.01%
50,000
– –
2021 Q2
4 quarters
MONCW
42
DELISTED
Monument Circle Acquisition Corp. Warrant
MONCW
$4K 0.01%
37,500
– –
2021 Q1
5 quarters
TZPSW
43
DELISTED
TZP Strategies Acquisition Corp. Warrant
TZPSW
$3K ﹤0.01%
35,000
– –
2021 Q1
5 quarters
EACPW
44
DELISTED
Edify Acquisition Corp. Warrant
EACPW
$2K ﹤0.01%
15,000
– –
2021 Q1
5 quarters
SPKBW
45
DELISTED
Silver Spike Acquisition Corp II Warrant
SPKBW
$2K ﹤0.01%
27,500
– –
2021 Q2
4 quarters
FTAAW
46
DELISTED
FTAC Athena Acquisition Corp. Warrant
FTAAW
$2K ﹤0.01%
6,700
– –
2021 Q2
4 quarters
BBCP icon
47
Concrete Pumping Holdings
BBCP
$472M
– –
-225,000
Closed -$1.51M –
CCL icon
48
Carnival Corporation Ltd
CCL
$35.4B
– –
-100,000
Closed -$2.02M –
EWG icon
49
PUT
iShares MSCI Germany ETF
EWG
$1.46B
– –
-475,000
Closed -$13.5M –
HHH icon
50
Howard Hughes
HHH
$4.4B
– –
-16,784
Closed -$1.66M –
1
2
3

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Covalent Partners's Q2 2022 Portfolio in Review

As of Q2 2022, Covalent Partners held 64 positions worth $80.3M, down 32% from $118M the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Covalent Partners withdrew a net $37.5M in Q2 2022, closing 15 positions and reducing 8 holdings. Its most notable exit was Hertz, an estimated $3.99M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 77% of assets, up from 61% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Covalent Partners opened a new position in iShares Russell 2000 ETF worth $508K.

  • Covalent Partners's largest Q2 2022 buy was iShares Russell 2000 ETF: 3,000 shares worth $508K.
  • Covalent Partners added most to Nine Energy Service in Q2 2022, an estimated $225K increase.
  • Covalent Partners's biggest Q2 2022 reduction was UFP Industries, cutting an estimated $2.83M.
  • Covalent Partners fully exited Hertz in Q2 2022, selling an estimated $3.99M.
  • Covalent Partners's ten largest holdings make up 83% of its $80.3M portfolio in Q2 2022.
  • Covalent Partners opened 5 new positions and closed 15 in Q2 2022.
  • Covalent Partners's portfolio value fell 32% quarter-over-quarter to $80.3M.

Based on Covalent Partners's 13F filing for Q2 2022, filed 15 Aug 2022.