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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
+3.87%
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
$118M
AUM Growth
+$57.8M
Cap. Flow
+$50K
Cap. Flow %
0.04%
Top 10 Hldgs %
63.67%
Holding
67
New
10
Increased
4
Reduced
4
Closed
3
Avg Time Held Equity + Options
0.6 years
Top 10 Avg Time Held Equity + Options
0.3 years
Top 20 Avg Time Held Equity + Options
0.7 years
Avg Time Held Equity only
0.7 years
Top 10 Avg Time Held Equity only
0.5 years
Top 20 Avg Time Held Equity only
0.9 years

Top Buys

Rank Stock Value
1
DAL icon
Delta Air Lines
DAL
+$1.72M
2
LUV icon
Southwest Airlines
LUV
+$1.17M
3
HP icon
Helmerich & Payne
HP
+$869K
4
DAOOU
Crypto 1 Acquisition Corp Unit
DAOOU
+$507K
5
AEAE icon
AltEnergy Acquisition Corp
AEAE
+$446K

Top Sells

Rank Stock Value
1
UFPI icon
UFP Industries
UFPI
+$1.77M
2
CCL icon
Carnival Corporation Ltd
CCL
+$1.44M
3
FAZE
FaZe Holdings Inc. Common Stock
FAZE
+$510K
4
BSN.WS
Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share
BSN.WS
+$177K
5
MAACW
Montes Archimedes Acquisition Corp. Warrant
MAACW
+$149K

Sector Composition

Rank Sector Weight
1 Miscellaneous 56.17%
2 Financials 14.36%
3 Industrials 9.28%
4 Consumer Discretionary 7.98%
5 Materials 5.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
SPKBW
51
DELISTED
Silver Spike Acquisition Corp II Warrant
SPKBW
$24K 0.02%
27,500
– –
2021 Q2
2 quarters
MONCW
52
DELISTED
Monument Circle Acquisition Corp. Warrant
MONCW
$19K 0.02%
37,500
– –
2021 Q1
3 quarters
TZPSW
53
DELISTED
TZP Strategies Acquisition Corp. Warrant
TZPSW
$18K 0.02%
35,000
– –
2021 Q1
3 quarters
AEAEW icon
54
DELISTED
AltEnergy Acquisition Corp Warrant
AEAEW
$13K 0.01%
+22,500
New +$12.7K
2021 Q4
0 quarters
MONDW icon
55
DELISTED
Mondee Holdings, Inc. Warrant
MONDW
$13K 0.01%
25,000
– –
2021 Q1
3 quarters
NXU.WS icon
56
DELISTED
Novus Capital Corporation II Redeemable warrants, each whole warrant exercisable for shares of Class
NXU.WS
$13K 0.01%
10,000
– –
2021 Q2
2 quarters
FTAAW
57
DELISTED
FTAC Athena Acquisition Corp. Warrant
FTAAW
$8K 0.01%
6,700
– –
2021 Q2
2 quarters
EACPW
58
DELISTED
Edify Acquisition Corp. Warrant
EACPW
$7K 0.01%
15,000
– –
2021 Q1
3 quarters
FSNB.WS
59
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
$2K ﹤0.01%
4,000
– –
2021 Q2
2 quarters
RUMBW icon
60
RUM Group Inc Warrant
RUMBW
$8.45M
– –
-2,500
Closed -$2K –
ROIVW icon
61
DELISTED
Roivant Sciences Ltd. Warrant
ROIVW
$0 ﹤0.01%
+100,000
New +$153K
2021 Q4
0 quarters
BSN.WS
62
DELISTED
Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share
BSN.WS
– –
-164,100
Closed -$177K –
MAACW
63
DELISTED
Montes Archimedes Acquisition Corp. Warrant
MAACW
– –
-100,000
Closed -$149K –
1 2
3

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Covalent Partners's Q4 2021 Portfolio in Review

As of Q4 2021, Covalent Partners held 67 positions worth $118M, up 96% from $60.2M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Covalent Partners's Q4 2021 filing shows 10 new, 4 increased, 4 reduced and 3 closed positions. Its largest new stake was Southwest Airlines: 25,000 shares worth $1.07M. The largest sale was UFP Industries, an estimated $1.77M.

By sector, the portfolio is most concentrated in Miscellaneous at 56% of assets, up from 19% a quarter earlier, followed by Financials and Industrials.

  • Covalent Partners's largest Q4 2021 buy was Southwest Airlines: 25,000 shares worth $1.07M.
  • Covalent Partners added most to Delta Air Lines in Q4 2021, an estimated $1.72M increase.
  • Covalent Partners's biggest Q4 2021 reduction was UFP Industries, cutting an estimated $1.77M.
  • Covalent Partners fully exited Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share in Q4 2021, selling an estimated $177K.
  • Covalent Partners's ten largest holdings make up 64% of its $118M portfolio in Q4 2021.
  • Covalent Partners opened 10 new positions and closed 3 in Q4 2021.
  • Covalent Partners's portfolio value rose 96% quarter-over-quarter to $118M.

Based on Covalent Partners's 13F filing for Q4 2021, filed 14 Feb 2022.