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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
-9.08%
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
$417M
AUM Growth
+$24.7M
Cap. Flow
-$70.9M
Cap. Flow %
-17%
Top 10 Hldgs %
63.63%
Holding
37
New
4
Increased
15
Reduced
12
Closed
5

Top Buys

Rank Stock Value
1
DAN icon
Dana Inc
DAN
+$17.3M
2
GM icon
General Motors
GM
+$12.3M
3
PHM icon
Pultegroup
PHM
+$9.97M
4
RYL
RYLAND GROUP INC
RYL
+$9.75M
5
AXLL
AXIALL CORP COM STK (DE)
AXLL
+$9.14M

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$10.6M
2
CNR
Cornerstone Building Brands, Inc.
CNR
+$8.79M
3
LPX icon
Louisiana-Pacific
LPX
+$4.95M
4
JGW
J G WENTWORTH CO CL A COM STK (DE)
JGW
+$2.97M
5
IWM icon
iShares Russell 2000 ETF
IWM
+$2.63M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 50.91%
2 Industrials 13.29%
3 Real Estate 12.3%
4 Financials 11.66%
5 Communication Services 6.52%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
C icon
1
Citigroup
C
$221B
$38.5M 9.24%
743,842
-12,000
-2% -$603K
GM icon
2
General Motors
GM
$76.3B
$36.6M 8.77%
1,144,411
+352,811
+45% +$12.3M
MGM icon
3
MGM Resorts International
MGM
$11B
$32.5M 7.79%
1,426,500
+199,500
+16% +$4.97M
DAN icon
4
Dana Inc
DAN
$3.24B
$31.1M 7.46%
1,621,616
+761,112
+88% +$17.3M
PHM icon
5
Pultegroup
PHM
$24.7B
$29.4M 7.05%
1,665,257
+529,500
+47% +$9.97M
GLPI icon
6
Gaming and Leisure Properties
GLPI
$12.8B
$27.8M 6.68%
901,273
+117,000
+15% +$3.94M
NCFT
7
DELISTED
NORCRAFT COS INC COM STK (DE)
NCFT
$19.8M 4.74%
1,239,788
+158,187
+15% +$2.4M
RYL
8
DELISTED
RYLAND GROUP INC
RYL
$17.6M 4.23%
529,992
+268,300
+103% +$9.75M
ISCA
9
DELISTED
International Speedway Corp
ISCA
$16.3M 3.91%
514,648
-8,329
-2% -$268K
BEE
10
DELISTED
STRATEGIC HOTELS & RESORTS, INC
BEE
$15.7M 3.77%
1,348,271
-205,000
-13% -$2.41M
SBGI icon
11
Sinclair Inc
SBGI
$1.05B
$14.7M 3.52%
562,083
+12,589
+2% +$386K
CNR
12
DELISTED
Cornerstone Building Brands, Inc.
CNR
$14.6M 3.49%
750,202
-458,982
-38% -$8.79M
AAL icon
13
American Airlines Group
AAL
$9.02B
$13.1M 3.15%
369,701
+221,271
+149% +$8.71M
NWHM
14
DELISTED
THE NEW HOME COMPANY INC.
NWHM
$11.2M 2.68%
826,195
+12,242
+2% +$167K
GS icon
15
Goldman Sachs
GS
$302B
$10.1M 2.42%
54,930
-770
-1% -$135K
F icon
16
Ford
F
$55.5B
$8.48M 2.03%
573,654
-7,346
-1% -$126K
LPX icon
17
Louisiana-Pacific
LPX
$5.08B
$7.95M 1.91%
585,161
-349,839
-37% -$4.95M
CYS
18
DELISTED
CYS Investments Inc.
CYS
$7.75M 1.86%
939,899
-13,253
-1% -$119K
AXLL
19
DELISTED
AXIALL CORP COM STK (DE)
AXLL
$7.74M 1.86%
+215,988
New +$9.14M
GTN icon
20
Gray Television
GTN
$507M
$7.13M 1.71%
904,535
+413,665
+84% +$4.53M
TRK
21
DELISTED
Speedway Motorsports, Inc.
TRK
$6.87M 1.65%
402,652
-3,380
-0.8% -$60.3K
MHO icon
22
M/I Homes
MHO
$3.84B
$6.39M 1.53%
322,404
+108,675
+51% +$2.37M
BYD icon
23
Boyd Gaming
BYD
$5.89B
$5.93M 1.42%
583,625
-167,718
-22% -$1.82M
NXST icon
24
Nexstar Media Group
NXST
$5.74B
$5.41M 1.3%
133,902
+27,867
+26% +$1.29M
MCRI icon
25
Monarch Casino & Resort
MCRI
$2.23B
$4.79M 1.15%
401,756
+107,663
+37% +$1.42M
1
2

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HAM
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BCA
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BCM
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MS
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AIIC
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HFA
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Covalent Partners's Q3 2014 Portfolio in Review

As of Q3 2014, Covalent Partners held 37 positions worth $417M, up 6.3% from $392M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Covalent Partners withdrew a net $70.9M in Q3 2014, closing 5 positions and reducing 12 holdings. Its most notable exit was Apple, an estimated $10.6M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 51% of assets, up from 46% a quarter earlier, followed by Industrials and Real Estate.

Against the trend, Covalent Partners opened a new position in AXIALL CORP COM STK (DE) worth $7.74M.

  • Covalent Partners's largest Q3 2014 buy was AXIALL CORP COM STK (DE): 215,988 shares worth $7.74M.
  • Covalent Partners added most to Dana Inc in Q3 2014, an estimated $17.3M increase.
  • Covalent Partners's biggest Q3 2014 reduction was Cornerstone Building Brands, Inc., cutting an estimated $8.79M.
  • Covalent Partners fully exited Apple in Q3 2014, selling an estimated $10.6M.
  • Covalent Partners's ten largest holdings make up 64% of its $417M portfolio in Q3 2014.
  • Covalent Partners opened 4 new positions and closed 5 in Q3 2014.
  • Covalent Partners's portfolio value rose 6.3% quarter-over-quarter to $417M.

Based on Covalent Partners's 13F filing for Q3 2014, filed 14 Nov 2014.