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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
+2.72%
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
$22.9M
AUM Growth
-$8.35M
Cap. Flow
-$12.3M
Cap. Flow %
-53.77%
Top 10 Hldgs %
94.36%
Holding
28
New
4
Increased
1
Reduced
5
Closed
4

Top Buys

Rank Stock Value
1
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$4.03M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$2.04M
3
DAL icon
Delta Air Lines
DAL
+$399K
4
CIFR icon
Cipher Digital
CIFR
+$152K
5
NINE
Nine Energy Service
NINE
+$28.9K

Top Sells

Rank Stock Value
1
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$4.23M
2
CNK icon
Cinemark Holdings
CNK
+$622K
3
NE icon
Noble Corp
NE
+$539K
4
TAST
Carrols Restaurant Group, Inc.
TAST
+$494K
5
GTIM icon
Good Times Restaurants
GTIM
+$144K

Sector Composition

Rank Sector Weight
1 Energy 11.53%
2 Industrials 8.22%
3 Communication Services 3.69%
4 Healthcare 2.11%
5 Consumer Discretionary 1.22%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TAST
26
DELISTED
Carrols Restaurant Group, Inc.
TAST
– –
-75,000
Closed -$494K
CCVI.WS
27
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
– –
-40,000
Closed -$6.4K
1
2

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Covalent Partners's Q4 2023 Portfolio in Review

As of Q4 2023, Covalent Partners held 28 positions worth $22.9M, down 27% from $31.3M the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Covalent Partners withdrew a net $12.3M in Q4 2023, closing 4 positions and reducing 5 holdings. Its most notable exit was iShares 7-10 Year Treasury Bond ETF, an estimated $4.23M position sold in full.

By sector, the portfolio is most concentrated in Energy at 12% of assets, up from 10% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Covalent Partners opened a new position in iShares iBoxx $ High Yield Corporate Bond ETF worth $4.18M.

  • Covalent Partners's largest Q4 2023 buy was iShares iBoxx $ High Yield Corporate Bond ETF: 54,000 shares worth $4.18M.
  • Covalent Partners added most to Delta Air Lines in Q4 2023, an estimated $399K increase.
  • Covalent Partners's biggest Q4 2023 reduction was Cinemark Holdings, cutting an estimated $622K.
  • Covalent Partners fully exited iShares 7-10 Year Treasury Bond ETF in Q4 2023, selling an estimated $4.23M.
  • Covalent Partners's ten largest holdings make up 94% of its $22.9M portfolio in Q4 2023.
  • Covalent Partners opened 4 new positions and closed 4 in Q4 2023.
  • Covalent Partners's portfolio value fell 27% quarter-over-quarter to $22.9M.

Based on Covalent Partners's 13F filing for Q4 2023, filed 14 Feb 2024.