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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
-23.7%
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
$23.9M
AUM Growth
-$11.1M
Cap. Flow
+$116M
Cap. Flow %
483.9%
Top 10 Hldgs %
89.15%
Holding
27
New
10
Increased
3
Reduced
4
Closed
3

Top Buys

Rank Stock Value
1
NEX
NexTier Oilfield Solutions Inc.
NEX
+$4.66M
2
GLPI icon
Gaming and Leisure Properties
GLPI
+$1.6M
3
MCRI icon
Monarch Casino & Resort
MCRI
+$658K

Top Sells

Rank Stock Value
1
BRSL
Brightstar Lottery PLC
BRSL
+$2.11M
2
CNR
Cornerstone Building Brands, Inc.
CNR
+$1.82M
3
NBR icon
Nabors Industries
NBR
+$541K
4
PR
Permian Resources
PR
+$336K
5
PXD
Pioneer Natural Resource Co.
PXD
+$327K

Sector Composition

Rank Sector Weight
1 Energy 20.18%
2 Real Estate 16.81%
3 Consumer Discretionary 1.76%
4 Industrials 1.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLPI icon
1
Gaming and Leisure Properties
GLPI
$12.8B
$4.02M 16.81%
145,000
+39,000
+37% +$1.6M
NEX
2
DELISTED
NexTier Oilfield Solutions Inc.
NEX
$2.16M 9.04%
1,846,200
+1,061,200
+135% +$4.66M
PXD
3
DELISTED
Pioneer Natural Resource Co.
PXD
$1.91M 8%
27,250
-2,750
-9% -$327K
USO icon
4
PUT
United States Oil Fund
USO
$2.07B
$614K 2.57%
+200,438
New +$15.4M
UVXY icon
5
PUT
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$292M
$594K 2.48%
+237
New +$17.3M
MCRI icon
6
Monarch Casino & Resort
MCRI
$2.23B
$421K 1.76%
+15,000
New +$658K
SPY icon
7
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$819B
$391K 1.64%
+55,000
New +$16.8M
PUMP icon
8
ProPetro Holding
PUMP
$1.33B
$325K 1.36%
130,000
– –
SPN
9
DELISTED
Superior Energy Services, Inc.
SPN
$320K 1.34%
217,500
-57,500
-21% -$226K
HYG icon
10
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.6B
$288K 1.2%
160,000
+52,300
+49% +$4.42M
CNR
11
DELISTED
Cornerstone Building Brands, Inc.
CNR
$251K 1.05%
55,000
-245,000
-82% -$1.82M
XLI icon
12
PUT
State Street Industrial Select Sector SPDR ETF
XLI
$33.2B
$135K 0.56%
+100,000
New +$7.53M
EEM icon
13
PUT
iShares MSCI Emerging Markets ETF
EEM
$30.7B
$116K 0.49%
+90,000
New +$3.69M
NE
14
DELISTED
Noble Corporation
NE
$81K 0.34%
309,889
– –
QQQ icon
15
PUT
Invesco QQQ Trust
QQQ
$483B
$72K 0.3%
+25,000
New +$5.29M
AAL icon
16
PUT
American Airlines Group
AAL
$9.02B
$66K 0.28%
+170,000
New +$3.87M
PXD
17
PUT
DELISTED
Pioneer Natural Resource Co.
PXD
$63K 0.26%
+20,000
New +$2.38M
IWM icon
18
PUT
iShares Russell 2000 ETF
IWM
$81.4B
$39K 0.16%
+325,200
New +$48.5M
PR
19
Permian Resources
PR
$19.8B
$26K 0.11%
100,000
-132,100
-57% -$336K
BRSL
20
Brightstar Lottery PLC
BRSL
$2.16B
– –
-141,000
Closed -$2.11M
NBR icon
21
Nabors Industries
NBR
$1.31B
– –
-3,754
Closed -$541K
NEXT icon
22
NextDecade
NEXT
$1.96B
– –
-18,003
Closed -$111K

Similar funds

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
AJU IB Investment Company Seoul, South Korea $30.5M AUM 128.96% 1-Year Est. Return
HFA
Harbert Fund Advisors Birmingham, Alabama $3.03M AUM 40.55% 1-Year Est. Return

Covalent Partners's Q1 2020 Portfolio in Review

As of Q1 2020, Covalent Partners held 27 positions worth $23.9M, down 32% from $35M the previous quarter. Its ten largest holdings account for 89% of the portfolio.

Covalent Partners deployed $116M of net new capital in Q1 2020, opening 10 new positions and adding to 3 existing holdings. Its largest new stake was Monarch Casino & Resort: 15,000 shares worth $421K.

By sector, the portfolio is most concentrated in Energy at 20% of assets, down from 42% a quarter earlier, followed by Real Estate and Consumer Discretionary.

On the sell side, the largest reduction was Cornerstone Building Brands, Inc., an estimated $1.82M trimmed.

  • Covalent Partners's largest Q1 2020 buy was Monarch Casino & Resort: 15,000 shares worth $421K.
  • Covalent Partners added most to NexTier Oilfield Solutions Inc. in Q1 2020, an estimated $4.66M increase.
  • Covalent Partners's biggest Q1 2020 reduction was Cornerstone Building Brands, Inc., cutting an estimated $1.82M.
  • Covalent Partners fully exited Brightstar Lottery PLC in Q1 2020, selling an estimated $2.11M.
  • Covalent Partners's ten largest holdings make up 89% of its $23.9M portfolio in Q1 2020.
  • Covalent Partners opened 10 new positions and closed 3 in Q1 2020.
  • Covalent Partners's portfolio value fell 32% quarter-over-quarter to $23.9M.

Based on Covalent Partners's 13F filing for Q1 2020, filed 15 May 2020.