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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
-9.36%
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
$105M
AUM Growth
-$13.1M
Cap. Flow
-$2.33M
Cap. Flow %
-2.22%
Top 10 Hldgs %
65.76%
Holding
30
New
7
Increased
7
Reduced
9
Closed
5
Avg Time Held Equity + Options
4.3 quarters
Top 10 Avg Time Held Equity + Options
2.9 quarters
Top 20 Avg Time Held Equity + Options
4.6 quarters
Avg Time Held Equity only
5 quarters
Top 10 Avg Time Held Equity only
2.9 quarters
Top 20 Avg Time Held Equity only
4.6 quarters

Top Buys

Rank Stock Value
1
PTEN icon
Patterson-UTI
PTEN
+$5.91M
2
LEN icon
Lennar Class A
LEN
+$2.59M
3
TWI icon
Titan International
TWI
+$2.59M
4
EVRI
Everi Holdings
EVRI
+$2.26M
5
PCG icon
PG&E
PCG
+$1.82M

Top Sells

Rank Stock Value
1
ALLY icon
Ally Financial
ALLY
+$3.98M
2
BMCH
BMC Stock Holdings, Inc
BMCH
+$3.81M
3
PGEM
Ply Gem Holdings, Inc.
PGEM
+$2.28M
4
C icon
Citigroup
C
+$2.25M
5
BXC icon
BlueLinx
BXC
+$2.24M

Sector Composition

Rank Sector Weight
1 Energy 33.32%
2 Real Estate 23.4%
3 Consumer Discretionary 16.86%
4 Industrials 15.42%
5 Financials 4.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
GLPI icon
1
Gaming and Leisure Properties
GLPI
$11.1B
$13.4M 12.77%
400,024
+29,658
+8% +$1.03M
2013 Q4
17 quarters
AGCO icon
2
AGCO
AGCO
$7.23B
$7.19M 6.85%
110,802
+10,334
+10% +$714K
2017 Q4
1 quarter
SPN
3
DELISTED
Superior Energy Services, Inc.
SPN
$6.66M 6.35%
79,019
-18,296
-19% -$1.8M
2016 Q3
6 quarters
MPT
4
Medical Properties Trust
MPT
$1.88B
$6.66M 6.35%
512,226
– –
2017 Q2
3 quarters
PGEM
5
DELISTED
Ply Gem Holdings, Inc.
PGEM
$6.48M 6.18%
300,000
-111,333
-27% -$2.28M
2017 Q3
2 quarters
LEN icon
6
Lennar Class A
LEN
$18.2B
$6.16M 5.87%
107,946
+42,932
+66% +$2.59M
2014 Q4
13 quarters
MHO icon
7
M/I Homes
MHO
$3.23B
$5.97M 5.7%
187,580
+19,100
+11% +$627K
2016 Q2
7 quarters
PUMP icon
8
ProPetro Holding
PUMP
$1.12B
$5.83M 5.55%
366,585
+82,692
+29% +$1.49M
2017 Q3
2 quarters
CJ
9
DELISTED
C&J Energy Services, Inc.
CJ
$5.51M 5.26%
213,538
+32,609
+18% +$931K
2017 Q3
2 quarters
NBR icon
10
Nabors Industries
NBR
$1.23B
$5.13M 4.89%
14,669
-1,208
-8% -$440K
2017 Q3
2 quarters
PTEN icon
11
Patterson-UTI
PTEN
$4.31B
$4.96M 4.73%
+283,320
New +$5.91M
2018 Q1
0 quarters
ALLY icon
12
Ally Financial
ALLY
$11.4B
$4.7M 4.48%
173,237
-138,718
-44% -$3.98M
2016 Q1
8 quarters
RPT
13
Rithm Property Trust
RPT
$83.8M
$4.5M 4.29%
57,261
-6,124
-10% -$475K
2015 Q2
11 quarters
UFPI icon
14
UFP Industries
UFPI
$4.09B
$4.49M 4.28%
138,344
-53,499
-28% -$1.9M
2017 Q2
3 quarters
DHI icon
15
D.R. Horton
DHI
$37.7B
$3.56M 3.39%
81,171
+6,461
+9% +$302K
2014 Q4
13 quarters
EGC
16
DELISTED
Energy XXI Gulf Coast, Inc. Common Stock
EGC
$3.15M 3%
820,322
-118,849
-13% -$690K
2017 Q1
4 quarters
PXD
17
DELISTED
Pioneer Natural Resource Co.
PXD
$2.84M 2.71%
16,547
-6,841
-29% -$1.21M
2017 Q3
2 quarters
TWI icon
18
Titan International
TWI
$449M
$2.51M 2.39%
+199,130
New +$2.59M
2018 Q1
0 quarters
EVRI
19
DELISTED
Everi Holdings
EVRI
$1.99M 1.9%
+303,544
New +$2.26M
2018 Q1
0 quarters
PCG icon
20
PG&E
PCG
$39.4B
$1.88M 1.79%
+42,831
New +$1.82M
2018 Q1
0 quarters
NEXT icon
21
NextDecade
NEXT
$1.76B
$864K 0.82%
182,231
– –
2015 Q3
10 quarters
SPY icon
22
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$833B
$225K 0.21%
+121,600
New +$33.2M
2018 Q1
0 quarters
NBR icon
23
CALL
Nabors Industries
NBR
$1.23B
$104K 0.1%
+4,216
New +$1.54M
2018 Q1
0 quarters
IWM icon
24
PUT
iShares Russell 2000 ETF
IWM
$77.4B
$74K 0.07%
+168,000
New +$25.9M
2018 Q1
0 quarters
USO icon
25
PUT
United States Oil Fund
USO
$1.68B
$55K 0.05%
377,188
-628,150
-62% -$63.4M
2017 Q3
2 quarters
1
2

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Covalent Partners's Q1 2018 Portfolio in Review

As of Q1 2018, Covalent Partners held 30 positions worth $105M, down 11% from $118M the previous quarter. Its ten largest holdings account for 66% of the portfolio.

Covalent Partners's Q1 2018 filing shows 7 new, 7 increased, 9 reduced and 5 closed positions. Its largest new stake was Patterson-UTI: 283,320 shares worth $4.96M. The largest sale was Ally Financial, an estimated $3.98M.

By sector, the portfolio is most concentrated in Energy at 33% of assets, up from 33% a quarter earlier, followed by Real Estate and Consumer Discretionary.

  • Covalent Partners's largest Q1 2018 buy was Patterson-UTI: 283,320 shares worth $4.96M.
  • Covalent Partners added most to Lennar Class A in Q1 2018, an estimated $2.59M increase.
  • Covalent Partners's biggest Q1 2018 reduction was Ally Financial, cutting an estimated $3.98M.
  • Covalent Partners fully exited BMC Stock Holdings, Inc in Q1 2018, selling an estimated $3.81M.
  • Covalent Partners's ten largest holdings make up 66% of its $105M portfolio in Q1 2018.
  • Covalent Partners opened 7 new positions and closed 5 in Q1 2018.
  • Covalent Partners's portfolio value fell 11% quarter-over-quarter to $105M.

Based on Covalent Partners's 13F filing for Q1 2018, filed 15 May 2018.