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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
+4.96%
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
+$168K
Cap. Flow
-$12.8M
Cap. Flow %
-10.8%
Top 10 Hldgs %
70.71%
Holding
68
New
5
Increased
4
Reduced
7
Closed
9

Top Buys

Rank Stock Value
1
HTZ icon
Hertz
HTZ
+$3.78M
2
CCL icon
Carnival Corporation Ltd
CCL
+$1.01M
3
DHI icon
D.R. Horton
DHI
+$494K
4
DAOO
Crypto 1 Acquisition Corp Class A Ordinary Shares
DAOO
+$492K
5
GTIM icon
Good Times Restaurants
GTIM
+$462K

Top Sells

Rank Stock Value
1
CNR
Cornerstone Building Brands, Inc.
CNR
+$3.23M
2
MVBF icon
MVB Financial
MVBF
+$2.28M
3
NEX
NexTier Oilfield Solutions Inc.
NEX
+$1.98M
4
UFPI icon
UFP Industries
UFPI
+$1.25M
5
FAZE
FaZe Holdings Inc. Common Stock
FAZE
+$1.01M

Sector Composition

Rank Sector Weight
1 Financials 12.2%
2 Industrials 8.87%
3 Consumer Discretionary 7.9%
4 Energy 5.23%
5 Materials 3.56%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MONCW
51
DELISTED
Monument Circle Acquisition Corp. Warrant
MONCW
$8K 0.01%
37,500
– –
MONDW
52
DELISTED
Mondee Holdings, Inc. Warrant
MONDW
$8K 0.01%
25,000
– –
AEAEW
53
DELISTED
AltEnergy Acquisition Corp Warrant
AEAEW
$5K ﹤0.01%
22,500
– –
FTAAW
54
DELISTED
FTAC Athena Acquisition Corp. Warrant
FTAAW
$4K ﹤0.01%
6,700
– –
EACPW
55
DELISTED
Edify Acquisition Corp. Warrant
EACPW
$2K ﹤0.01%
15,000
– –
FSNB.WS
56
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
$1K ﹤0.01%
4,000
– –
AMC icon
57
PUT
AMC Entertainment Holdings
AMC
$2.38B
– –
-30,000
Closed -$8.16M
HAL icon
58
CALL
Halliburton
HAL
$28.9B
– –
-145,500
Closed -$3.33M
MVBF icon
59
MVB Financial
MVBF
$392M
– –
-55,000
Closed -$2.28M
MOND
60
DELISTED
Mondee Holdings, Inc. Class A Common Stock
MOND
– –
-50,000
Closed -$491K
FAZE
61
DELISTED
FaZe Holdings Inc. Common Stock
FAZE
– –
-100,000
Closed -$1.01M
DAOOU
62
DELISTED
Crypto 1 Acquisition Corp Unit
DAOOU
– –
-50,000
Closed -$505K
SLCR
63
DELISTED
Silver Crest Acquisition Corporation Class A Ordinary Share
SLCR
– –
-70,000
Closed -$687K
CNR
64
DELISTED
Cornerstone Building Brands, Inc.
CNR
– –
-185,000
Closed -$3.23M
NXU.WS
65
DELISTED
Novus Capital Corporation II Redeemable warrants, each whole warrant exercisable for shares of Class
NXU.WS
– –
-10,000
Closed -$13K
1 2
3

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Covalent Partners's Q1 2022 Portfolio in Review

As of Q1 2022, Covalent Partners held 68 positions worth $118M, up 0.14% from $118M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Covalent Partners withdrew a net $12.8M in Q1 2022, closing 9 positions and reducing 7 holdings. Its most notable exit was Cornerstone Building Brands, Inc., an estimated $3.23M position sold in full.

By sector, the portfolio is most concentrated in Financials at 12% of assets, down from 14% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, Covalent Partners opened a new position in Hertz worth $3.99M.

  • Covalent Partners's largest Q1 2022 buy was Hertz: 180,000 shares worth $3.99M.
  • Covalent Partners added most to Carnival Corporation Ltd in Q1 2022, an estimated $1.01M increase.
  • Covalent Partners's biggest Q1 2022 reduction was NexTier Oilfield Solutions Inc., cutting an estimated $1.98M.
  • Covalent Partners fully exited Cornerstone Building Brands, Inc. in Q1 2022, selling an estimated $3.23M.
  • Covalent Partners's ten largest holdings make up 71% of its $118M portfolio in Q1 2022.
  • Covalent Partners opened 5 new positions and closed 9 in Q1 2022.
  • Covalent Partners's portfolio value rose 0.14% quarter-over-quarter to $118M.

Based on Covalent Partners's 13F filing for Q1 2022, filed 16 May 2022.