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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
+2.48%
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
$31.3M
AUM Growth
+$3.63M
Cap. Flow
-$8.45M
Cap. Flow %
-27.03%
Top 10 Hldgs %
94.55%
Holding
28
New
3
Increased
1
Reduced
2
Closed
3
Avg Time Held Equity + Options
5.9 quarters
Top 10 Avg Time Held Equity + Options
2.4 quarters
Top 20 Avg Time Held Equity + Options
2.7 quarters
Avg Time Held Equity only
6.1 quarters
Top 10 Avg Time Held Equity only
3.2 quarters
Top 20 Avg Time Held Equity only
2.9 quarters

Top Buys

Rank Stock Value
1
CNK icon
Cinemark Holdings
CNK
+$1.67M
2
SRFM icon
Surf Air Mobility
SRFM
+$255K
3
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$239K

Top Sells

Rank Stock Value
1
LUV icon
Southwest Airlines
LUV
+$2.53M
2
DAL icon
Delta Air Lines
DAL
+$1.5M
3
BALY icon
Bally's
BALY
+$700K
4
ROIVW icon
Roivant Sciences Ltd. Warrant
ROIVW
+$248K
5
TAST icon
Carrols Restaurant Group, Inc.
TAST
+$154K

Sector Composition

Rank Sector Weight
1 Miscellaneous 74.51%
2 Energy 10.46%
3 Communication Services 5.87%
4 Industrials 4.33%
5 Consumer Discretionary 3.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
ROIVW icon
26
DELISTED
Roivant Sciences Ltd. Warrant
ROIVW
– –
-100,000
Closed -$248K –
1
2

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Covalent Partners's Q3 2023 Portfolio in Review

As of Q3 2023, Covalent Partners held 28 positions worth $31.3M, up 13% from $27.6M the previous quarter. Its ten largest holdings account for 95% of the portfolio.

Covalent Partners withdrew a net $8.45M in Q3 2023, closing 3 positions and reducing 2 holdings. Its most notable exit was Southwest Airlines, an estimated $2.53M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 75% of assets, up from 62% a quarter earlier, followed by Energy and Communication Services.

Against the trend, Covalent Partners opened a new position in Cinemark Holdings worth $1.83M.

  • Covalent Partners's largest Q3 2023 buy was Cinemark Holdings: 100,000 shares worth $1.83M.
  • Covalent Partners added most to iShares 7-10 Year Treasury Bond ETF in Q3 2023, an estimated $239K increase.
  • Covalent Partners's biggest Q3 2023 reduction was Delta Air Lines, cutting an estimated $1.5M.
  • Covalent Partners fully exited Southwest Airlines in Q3 2023, selling an estimated $2.53M.
  • Covalent Partners's ten largest holdings make up 95% of its $31.3M portfolio in Q3 2023.
  • Covalent Partners opened 3 new positions and closed 3 in Q3 2023.
  • Covalent Partners's portfolio value rose 13% quarter-over-quarter to $31.3M.

Based on Covalent Partners's 13F filing for Q3 2023, filed 14 Nov 2023.