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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
+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
-$19M
Cap. Flow %
-16.1%
Top 10 Hldgs %
70.71%
Holding
68
New
5
Increased
4
Reduced
7
Closed
9
Avg Time Held Equity + Options
0.8 years
Top 10 Avg Time Held Equity + Options
0.5 years
Top 20 Avg Time Held Equity + Options
0.5 years
Avg Time Held Equity only
0.8 years
Top 10 Avg Time Held Equity only
0.6 years
Top 20 Avg Time Held Equity only
0.6 years

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 icon
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 Miscellaneous 60.56%
2 Financials 12.2%
3 Industrials 8.87%
4 Consumer Discretionary 7.9%
5 Energy 5.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
MONCW
51
DELISTED
Monument Circle Acquisition Corp. Warrant
MONCW
$8K 0.01%
37,500
– –
2021 Q1
4 quarters
MONDW icon
52
DELISTED
Mondee Holdings, Inc. Warrant
MONDW
$8K 0.01%
25,000
– –
2021 Q1
4 quarters
AEAEW icon
53
DELISTED
AltEnergy Acquisition Corp Warrant
AEAEW
$5K ﹤0.01%
22,500
– –
2021 Q4
1 quarter
FTAAW
54
DELISTED
FTAC Athena Acquisition Corp. Warrant
FTAAW
$4K ﹤0.01%
6,700
– –
2021 Q2
3 quarters
EACPW
55
DELISTED
Edify Acquisition Corp. Warrant
EACPW
$2K ﹤0.01%
15,000
– –
2021 Q1
4 quarters
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
– –
2021 Q2
3 quarters
AMC icon
57
PUT
AMC Entertainment Holdings
AMC
$2.57B
– –
-30,000
Closed -$8.16M –
HAL icon
58
CALL
Halliburton
HAL
$28B
– –
-145,500
Closed -$3.33M –
MVBF icon
59
MVB Financial
MVBF
$378M
– –
-55,000
Closed -$2.28M –
MOND icon
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 icon
64
DELISTED
Cornerstone Building Brands, Inc.
CNR
– –
-185,000
Closed -$3.23M –
NXU.WS icon
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 $19M 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 Miscellaneous at 61% of assets, up from 56% a quarter earlier, followed by Financials and Industrials.

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.