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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
+20.27%
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
$35M
AUM Growth
-$1.39M
Cap. Flow
-$6.2M
Cap. Flow %
-17.72%
Top 10 Hldgs %
86.37%
Holding
19
New
3
Increased
–
Reduced
6
Closed
2

Top Buys

Rank Stock Value
1
SPN
Superior Energy Services, Inc.
SPN
+$1.37M
2
PUMP icon
ProPetro Holding
PUMP
+$1.16M

Top Sells

Rank Stock Value
1
NEX
NexTier Oilfield Solutions Inc.
NEX
+$2.41M
2
CNR
Cornerstone Building Brands, Inc.
CNR
+$1.41M
3
PXD
Pioneer Natural Resource Co.
PXD
+$1.33M
4
BRSL
Brightstar Lottery PLC
BRSL
+$1.08M
5
GLPI icon
Gaming and Leisure Properties
GLPI
+$557K

Sector Composition

Rank Sector Weight
1 Energy 42.16%
2 Real Estate 13.05%
3 Industrials 7.3%
4 Consumer Discretionary 6.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NEX
1
DELISTED
NexTier Oilfield Solutions Inc.
NEX
$5.26M 15.04%
785,000
-447,340
-36% -$2.41M
GLPI icon
2
Gaming and Leisure Properties
GLPI
$12.8B
$4.56M 13.05%
106,000
-13,569
-11% -$557K
PXD
3
DELISTED
Pioneer Natural Resource Co.
PXD
$4.54M 12.99%
30,000
-10,000
-25% -$1.33M
CNR
4
DELISTED
Cornerstone Building Brands, Inc.
CNR
$2.55M 7.3%
300,000
-200,000
-40% -$1.41M
BRSL
5
Brightstar Lottery PLC
BRSL
$2.16B
$2.11M 6.04%
141,000
-75,652
-35% -$1.08M
PUMP icon
6
ProPetro Holding
PUMP
$1.33B
$1.46M 4.18%
+130,000
New +$1.16M
SPN
7
DELISTED
Superior Energy Services, Inc.
SPN
$1.38M 3.94%
+275,000
New +$1.37M
PR
8
Permian Resources
PR
$19.8B
$1.07M 3.07%
232,100
– –
NBR icon
9
Nabors Industries
NBR
$1.31B
$541K 1.55%
3,754
– –
NE
10
DELISTED
Noble Corporation
NE
$378K 1.08%
309,889
– –
NEXT icon
11
NextDecade
NEXT
$1.96B
$111K 0.32%
18,003
-46,997
-72% -$293K
HYG icon
12
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.6B
$8K 0.02%
+107,700
New +$9.37M
OIH icon
13
PUT
VanEck Oil Services ETF
OIH
$1.94B
– –
-42,750
Closed -$162K
USO icon
14
PUT
United States Oil Fund
USO
$2.07B
– –
-102,500
Closed -$325K

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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 Q4 2019 Portfolio in Review

As of Q4 2019, Covalent Partners held 19 positions worth $35M, down 3.8% from $36.4M the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Covalent Partners withdrew a net $6.2M in Q4 2019, closing 2 positions and reducing 6 holdings. Its largest reduction was NexTier Oilfield Solutions Inc., cutting an estimated $2.41M.

By sector, the portfolio is most concentrated in Energy at 42% of assets, up from 40% a quarter earlier, followed by Real Estate and Industrials.

Against the trend, Covalent Partners opened a new position in Superior Energy Services, Inc. worth $1.38M.

  • Covalent Partners's largest Q4 2019 buy was Superior Energy Services, Inc.: 275,000 shares worth $1.38M.
  • Covalent Partners's biggest Q4 2019 reduction was NexTier Oilfield Solutions Inc., cutting an estimated $2.41M.
  • Covalent Partners's ten largest holdings make up 86% of its $35M portfolio in Q4 2019.
  • Covalent Partners opened 3 new positions and closed 2 in Q4 2019.
  • Covalent Partners's portfolio value fell 3.8% quarter-over-quarter to $35M.

Based on Covalent Partners's 13F filing for Q4 2019, filed 14 Feb 2020.