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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
+3.87%
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
+$44.6M
Cap. Flow %
37.79%
Top 10 Hldgs %
63.67%
Holding
67
New
10
Increased
4
Reduced
4
Closed
3

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
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 Financials 14.36%
2 Industrials 9.28%
3 Consumer Discretionary 7.98%
4 Materials 5.3%
5 Energy 4.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPKBW
51
DELISTED
Silver Spike Acquisition Corp II Warrant
SPKBW
$24K 0.02%
27,500
– –
MONCW
52
DELISTED
Monument Circle Acquisition Corp. Warrant
MONCW
$19K 0.02%
37,500
– –
TZPSW
53
DELISTED
TZP Strategies Acquisition Corp. Warrant
TZPSW
$18K 0.02%
35,000
– –
AEAEW
54
DELISTED
AltEnergy Acquisition Corp Warrant
AEAEW
$13K 0.01%
+22,500
New +$12.7K
MONDW
55
DELISTED
Mondee Holdings, Inc. Warrant
MONDW
$13K 0.01%
25,000
– –
NXU.WS
56
DELISTED
Novus Capital Corporation II Redeemable warrants, each whole warrant exercisable for shares of Class
NXU.WS
$13K 0.01%
10,000
– –
FTAAW
57
DELISTED
FTAC Athena Acquisition Corp. Warrant
FTAAW
$8K 0.01%
6,700
– –
EACPW
58
DELISTED
Edify Acquisition Corp. Warrant
EACPW
$7K 0.01%
15,000
– –
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
– –
RUMBW
60
RUM Group Inc Warrant
RUMBW
$16.7M
– –
-2,500
Closed -$2K
ROIVW
61
DELISTED
Roivant Sciences Ltd. Warrant
ROIVW
$0 ﹤0.01%
+100,000
New +$153K
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 deployed $44.6M of net new capital in Q4 2021, opening 10 new positions and adding to 4 existing holdings. Its largest new stake was Southwest Airlines: 25,000 shares worth $1.07M.

By sector, the portfolio is most concentrated in Financials at 14% of assets, down from 27% a quarter earlier, followed by Industrials and Consumer Discretionary.

On the sell side, the largest reduction was UFP Industries, an estimated $1.77M trimmed.

  • 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.