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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
+7.28%
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
$288M
AUM Growth
+$2.02M
Cap. Flow
-$32.7M
Cap. Flow %
-11.35%
Top 10 Hldgs %
64.46%
Holding
33
New
6
Increased
6
Reduced
4
Closed
5
Avg Time Held Equity + Options
0.8 quarters
Top 10 Avg Time Held Equity + Options
0.8 quarters
Top 20 Avg Time Held Equity + Options
0.8 quarters
Avg Time Held Equity only
0.8 quarters
Top 10 Avg Time Held Equity only
0.8 quarters
Top 20 Avg Time Held Equity only
0.8 quarters

Top Buys

Rank Stock Value
1
CNR
Cornerstone Building Brands, Inc.
CNR
+$9.29M
2
BAC icon
Bank of America
BAC
+$7.56M
3
PENN icon
PENN Entertainment
PENN
+$7.46M
4
CYS
CYS Investments Inc.
CYS
+$6.21M
5
BEE
STRATEGIC HOTELS & RESORTS, INC
BEE
+$4.51M

Top Sells

Rank Stock Value
1
ASCA
AMERISTAR CASINOS INC
ASCA
+$15.2M
2
ISCA
International Speedway Corp
ISCA
+$7.44M
3
PNK
Pinnacle Entertainment Inc.
PNK
+$7.15M
4
CMLS
Cumulus Media Inc. Class A Common Stock
CMLS
+$4.01M
5
DAN icon
Dana Inc
DAN
+$3.42M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 32.55%
2 Financials 20.12%
3 Industrials 16.13%
4 Miscellaneous 14%
5 Communication Services 7.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
CNR
1
DELISTED
Cornerstone Building Brands, Inc.
CNR
$22.3M 7.75%
1,749,699
+697,630
+66% +$9.29M
2013 Q2
1 quarter
SBGI icon
2
Sinclair Inc
SBGI
$921M
$22.3M 7.74%
664,750
+63,105
+10% +$1.78M
2013 Q2
1 quarter
C icon
3
Citigroup
C
$217B
$20.1M 6.99%
414,642
– –
2013 Q2
1 quarter
PNK
4
DELISTED
Pinnacle Entertainment Inc.
PNK
$17.8M 6.19%
711,245
-318,837
-31% -$7.15M
2013 Q2
1 quarter
GM icon
5
General Motors
GM
$72.6B
$17.4M 6.03%
482,600
– –
2013 Q2
1 quarter
DAN icon
6
Dana Inc
DAN
$3.16B
$17M 5.91%
744,488
-158,000
-18% -$3.42M
2013 Q2
1 quarter
BEE
7
DELISTED
STRATEGIC HOTELS & RESORTS, INC
BEE
$13.7M 4.78%
1,583,837
+518,000
+49% +$4.51M
2013 Q2
1 quarter
WMS
8
DELISTED
WMS INDS INC
WMS
$12.3M 4.29%
475,267
– –
2013 Q2
1 quarter
BSBR icon
9
Santander
BSBR
$43.5B
$12.1M 4.22%
1,823,774
+327,294
+22% +$1.91M
2013 Q2
1 quarter
LCC
10
DELISTED
US AIRWAYS GROUP INC.
LCC
$11.8M 4.1%
622,492
+192,692
+45% +$3.41M
2013 Q2
1 quarter
CIT
11
DELISTED
CIT Group Inc.
CIT
$11.7M 4.07%
240,300
+48,000
+25% +$2.36M
2013 Q2
1 quarter
MGM icon
12
MGM Resorts International
MGM
$7.36B
$10.9M 3.8%
535,500
– –
2013 Q2
1 quarter
F icon
13
Ford
F
$48.5B
$8.81M 3.06%
522,000
– –
2013 Q2
1 quarter
PENN icon
14
PENN Entertainment
PENN
$2.08B
$7.75M 2.69%
+619,220
New +$7.46M
2013 Q3
0 quarters
BAC icon
15
Bank of America
BAC
$380B
$7.31M 2.54%
+529,777
New +$7.56M
2013 Q3
0 quarters
AAPL icon
16
Apple
AAPL
$4.91T
$7.2M 2.5%
422,800
– –
2013 Q2
1 quarter
EEM icon
17
iShares MSCI Emerging Markets ETF
EEM
$31B
$6.61M 2.3%
162,262
– –
2013 Q2
1 quarter
GS icon
18
Goldman Sachs
GS
$261B
$6.61M 2.3%
41,800
– –
2013 Q2
1 quarter
CYS
19
DELISTED
CYS Investments Inc.
CYS
$6.25M 2.17%
+768,152
New +$6.21M
2013 Q3
0 quarters
TRK
20
DELISTED
Speedway Motorsports, Inc.
TRK
$6.17M 2.15%
344,902
– –
2013 Q2
1 quarter
ISCA
21
DELISTED
International Speedway Corp
ISCA
$4.97M 1.73%
154,278
-226,163
-59% -$7.44M
2013 Q2
1 quarter
BRSL
22
Brightstar Lottery PLC
BRSL
$1.8B
$2.85M 0.99%
150,500
– –
2013 Q2
1 quarter
SPY icon
23
State Street SPDR S&P 500 ETF Trust
SPY
$833B
$2.13M 0.74%
12,700
– –
2013 Q2
1 quarter
IWM icon
24
PUT
iShares Russell 2000 ETF
IWM
$77.4B
$365K 0.13%
+5,000
New +$517K
2013 Q3
0 quarters
VBF icon
25
Invesco Bond Fund
VBF
$162M
$278K 0.1%
+15,844
New +$279K
2013 Q3
0 quarters
1
2

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BCPE
Bain Capital Public Equity Boston, Massachusetts $18M AUM 35.19% 1-Year Est. Return
HAM
Honeycomb Asset Management New York $19.4M AUM 25.86% 1-Year Est. Return
BCA
Boundary Creek Advisors New York $15.3M AUM 0.41% 1-Year Est. Return
BCM
BCK Capital Management Stamford, Connecticut $23M AUM 33.03% 1-Year Est. Return
MS
Mizuho Securities Tokyo, Japan $7.68M AUM 15.91% 1-Year Est. Return
RA
Ritter Alpha New York $4.78M AUM
AIIC
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HFA
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Covalent Partners's Q3 2013 Portfolio in Review

As of Q3 2013, Covalent Partners held 33 positions worth $288M, up 0.71% from $286M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Covalent Partners withdrew a net $32.7M in Q3 2013, closing 5 positions and reducing 4 holdings. Its most notable exit was AMERISTAR CASINOS INC, an estimated $15.2M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 33% of assets, down from 33% a quarter earlier, followed by Financials and Industrials.

Against the trend, Covalent Partners opened a new position in Bank of America worth $7.31M.

  • Covalent Partners's largest Q3 2013 buy was Bank of America: 529,777 shares worth $7.31M.
  • Covalent Partners added most to Cornerstone Building Brands, Inc. in Q3 2013, an estimated $9.29M increase.
  • Covalent Partners's biggest Q3 2013 reduction was International Speedway Corp, cutting an estimated $7.44M.
  • Covalent Partners fully exited AMERISTAR CASINOS INC in Q3 2013, selling an estimated $15.2M.
  • Covalent Partners's ten largest holdings make up 64% of its $288M portfolio in Q3 2013.
  • Covalent Partners opened 6 new positions and closed 5 in Q3 2013.
  • Covalent Partners's portfolio value rose 0.71% quarter-over-quarter to $288M.

Based on Covalent Partners's 13F filing for Q3 2013, filed 14 Nov 2013.