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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
-$15.1M
Cap. Flow %
-43.13%
Top 10 Hldgs %
86.37%
Holding
19
New
3
Increased
–
Reduced
6
Closed
2
Avg Time Held Equity + Options
5 quarters
Top 10 Avg Time Held Equity + Options
4.5 quarters
Top 20 Avg Time Held Equity + Options
4.3 quarters
Avg Time Held Equity only
5.3 quarters
Top 10 Avg Time Held Equity only
4.5 quarters
Top 20 Avg Time Held Equity only
4.6 quarters

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 Miscellaneous 31.45%
3 Real Estate 13.05%
4 Industrials 7.3%
5 Consumer Discretionary 6.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
NEX
1
DELISTED
NexTier Oilfield Solutions Inc.
NEX
$5.26M 15.04%
785,000
-447,340
-36% -$2.41M
2018 Q2
6 quarters
GLPI icon
2
Gaming and Leisure Properties
GLPI
$11.1B
$4.56M 13.05%
106,000
-13,569
-11% -$557K
2013 Q4
24 quarters
PXD
3
DELISTED
Pioneer Natural Resource Co.
PXD
$4.54M 12.99%
30,000
-10,000
-25% -$1.33M
2017 Q3
9 quarters
CNR
4
DELISTED
Cornerstone Building Brands, Inc.
CNR
$2.55M 7.3%
300,000
-200,000
-40% -$1.41M
2019 Q2
2 quarters
BRSL
5
Brightstar Lottery PLC
BRSL
$1.8B
$2.11M 6.04%
141,000
-75,652
-35% -$1.08M
2018 Q4
4 quarters
PUMP icon
6
ProPetro Holding
PUMP
$1.12B
$1.46M 4.18%
+130,000
New +$1.16M
2019 Q4
0 quarters
SPN
7
DELISTED
Superior Energy Services, Inc.
SPN
$1.38M 3.94%
+275,000
New +$1.37M
2019 Q4
0 quarters
PR
8
Permian Resources
PR
$19.3B
$1.07M 3.07%
232,100
– –
2018 Q3
5 quarters
NBR icon
9
Nabors Industries
NBR
$1.23B
$541K 1.55%
3,754
– –
2017 Q3
9 quarters
NE
10
DELISTED
Noble Corporation
NE
$378K 1.08%
309,889
– –
2019 Q2
2 quarters
NEXT icon
11
NextDecade
NEXT
$1.76B
$111K 0.32%
18,003
-46,997
-72% -$293K
2015 Q3
17 quarters
HYG icon
12
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.3B
$8K 0.02%
+107,700
New +$9.37M
2019 Q4
0 quarters
OIH icon
13
PUT
VanEck Oil Services ETF
OIH
$1.87B
– –
-42,750
Closed -$162K –
USO icon
14
PUT
United States Oil Fund
USO
$1.68B
– –
-102,500
Closed -$325K –

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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 $15.1M 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 Miscellaneous and Real Estate.

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.