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CP

Covalent Partners Portfolio holdings

AUM $17.6M Turnover 18.75%
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
-$2.6M
Cap. Flow %
-4.32%
Top 10 Hldgs %
55.9%
Holding
64
New
5
Increased
6
Reduced
8
Closed
10
Avg Time Held Equity + Options
0.5 years
Top 10 Avg Time Held Equity + Options
0.3 years
Top 20 Avg Time Held Equity + Options
0.8 years
Avg Time Held Equity only
0.6 years
Top 10 Avg Time Held Equity only
0.5 years
Top 20 Avg Time Held Equity only
0.7 years

Top Buys

Rank Stock Value
1
HP icon
Helmerich & Payne
HP
+$1.74M
2
SKYA icon
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 icon
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 icon
Atlas Crest Investment Corp. II
ACII
+$535K

Sector Composition

Rank Sector Weight
1 Financials 27.49%
2 Miscellaneous 19.19%
3 Consumer Discretionary 15.92%
4 Industrials 13.33%
5 Materials 10.35%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
FTAAW
51
DELISTED
FTAC Athena Acquisition Corp. Warrant
FTAAW
$9K 0.01%
6,700
-5,800
-46% -$7.1K
2021 Q2
1 quarter
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
– –
2021 Q2
1 quarter
RUMBW icon
53
RUM Group Inc Warrant
RUMBW
$8.37M
$2K ﹤0.01%
2,500
– –
2021 Q2
1 quarter
IWM icon
54
PUT
iShares Russell 2000 ETF
IWM
$76.2B
– –
-221,500
Closed -$50.8M –
NRGV icon
55
Energy Vault
NRGV
$516M
– –
-30,000
Closed -$292K –
PTEN icon
56
PUT
Patterson-UTI
PTEN
$4.39B
– –
-17,600
Closed -$175K –
RUM icon
57
RUM Group Inc
RUM
$2.28B
– –
-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 icon
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 $2.6M 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 Miscellaneous and Consumer Discretionary.

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.