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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
-$4.16M
Cap. Flow %
-18.18%
Top 10 Hldgs %
94.36%
Holding
28
New
4
Increased
1
Reduced
5
Closed
4
Avg Time Held Equity + Options
6 quarters
Top 10 Avg Time Held Equity + Options
2.5 quarters
Top 20 Avg Time Held Equity + Options
3.1 quarters
Avg Time Held Equity only
6.3 quarters
Top 10 Avg Time Held Equity only
3.2 quarters
Top 20 Avg Time Held Equity only
3.3 quarters

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 icon
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 icon
Carrols Restaurant Group, Inc.
TAST
+$494K
5
GTIM icon
Good Times Restaurants
GTIM
+$144K

Sector Composition

Rank Sector Weight
1 Miscellaneous 72.34%
2 Energy 11.53%
3 Industrials 8.22%
4 Communication Services 3.69%
5 Healthcare 2.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
TAST icon
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 $4.16M 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 Miscellaneous at 72% of assets, down from 75% a quarter earlier, followed by Energy and Industrials.

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.