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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
-3.18%
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
$60.2M
AUM Growth
-$53.9M
Cap. Flow
-$53.6M
Cap. Flow %
-88.95%
Top 10 Hldgs %
55.9%
Holding
64
New
5
Increased
6
Reduced
8
Closed
10

Top Buys

Rank Stock Value
1
HP icon
Helmerich & Payne
HP
+$1.74M
2
SKYA
Skydeck Acquisition Corp. Class A Ordinary Shares
SKYA
+$1.33M
3
DAL icon
Delta Air Lines
DAL
+$1.04M
4
UFPI icon
UFP Industries
UFPI
+$1.02M
5
BYD icon
Boyd Gaming
BYD
+$919K

Top Sells

Rank Stock Value
1
SKYAU
Skydeck Acquisition Corp. Units
SKYAU
+$1.38M
2
SLCR
Silver Crest Acquisition Corporation Class A Ordinary Share
SLCR
+$1.27M
3
BSN
Broadstone Acquisition Corp.
BSN
+$1.19M
4
NEX
NexTier Oilfield Solutions Inc.
NEX
+$611K
5
ACII
Atlas Crest Investment Corp. II
ACII
+$535K

Sector Composition

Rank Sector Weight
1 Financials 27.49%
2 Consumer Discretionary 15.92%
3 Industrials 13.33%
4 Materials 10.35%
5 Energy 8.11%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FTAAW
51
DELISTED
FTAC Athena Acquisition Corp. Warrant
FTAAW
$9K 0.01%
6,700
-5,800
-46% -$7.1K
FSNB.WS
52
DELISTED
Fusion Acquisition Corp. II Redeemable Warrants, each whole warrant exercisable for one share of Class A common stock, each at an exercise price of $11.50 per share
FSNB.WS
$3K 0.01%
4,000
– –
RUMBW
53
RUM Group Inc Warrant
RUMBW
$16.7M
$2K ﹤0.01%
2,500
– –
IWM icon
54
PUT
iShares Russell 2000 ETF
IWM
$81.4B
– –
-221,500
Closed -$50.8M
NRGV icon
55
Energy Vault
NRGV
$662M
– –
-30,000
Closed -$292K
PTEN icon
56
PUT
Patterson-UTI
PTEN
$4.52B
– –
-17,600
Closed -$175K
RUM icon
57
RUM Group Inc
RUM
$4.64B
– –
-10,000
Closed -$98K
EAC
58
DELISTED
Edify Acquisition Corp. Class A Common Stock
EAC
– –
-30,000
Closed -$290K
FSNB
59
DELISTED
Fusion Acquisition Corp. II
FSNB
– –
-12,000
Closed -$116K
SKYAU
60
DELISTED
Skydeck Acquisition Corp. Units
SKYAU
– –
-137,700
Closed -$1.38M
FTAA
61
DELISTED
FTAC Athena Acquisition Corp. Class A Ordinary Share
FTAA
– –
-50,000
Closed -$493K
BSN
62
DELISTED
Broadstone Acquisition Corp.
BSN
– –
-120,160
Closed -$1.19M
CAHCW
63
DELISTED
CA Healthcare Acquisition Corp. Warrant
CAHCW
– –
-27,500
Closed -$27K
1 2
3

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Covalent Partners's Q3 2021 Portfolio in Review

As of Q3 2021, Covalent Partners held 64 positions worth $60.2M, down 47% from $114M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Covalent Partners withdrew a net $53.6M in Q3 2021, closing 10 positions and reducing 8 holdings. Its most notable exit was Skydeck Acquisition Corp. Units, an estimated $1.38M position sold in full.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 17% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Covalent Partners opened a new position in Helmerich & Payne worth $1.71M.

  • Covalent Partners's largest Q3 2021 buy was Helmerich & Payne: 62,500 shares worth $1.71M.
  • Covalent Partners added most to Delta Air Lines in Q3 2021, an estimated $1.04M increase.
  • Covalent Partners's biggest Q3 2021 reduction was Silver Crest Acquisition Corporation Class A Ordinary Share, cutting an estimated $1.27M.
  • Covalent Partners fully exited Skydeck Acquisition Corp. Units in Q3 2021, selling an estimated $1.38M.
  • Covalent Partners's ten largest holdings make up 56% of its $60.2M portfolio in Q3 2021.
  • Covalent Partners opened 5 new positions and closed 10 in Q3 2021.
  • Covalent Partners's portfolio value fell 47% quarter-over-quarter to $60.2M.

Based on Covalent Partners's 13F filing for Q3 2021, filed 15 Nov 2021.