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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
+14.09%
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
$57.4M
AUM Growth
+$21M
Cap. Flow
+$8.23M
Cap. Flow %
14.33%
Top 10 Hldgs %
55.12%
Holding
56
New
34
Increased
3
Reduced
2
Closed
9

Top Buys

Rank Stock Value
1
MAAC
Montes Archimedes Acquisition Corp. Class A Common Stock
MAAC
+$3.05M
2
AGAC
African Gold Acquisition Corp
AGAC
+$2.39M
3
BRPMU
B. Riley Principal 150 Merger Corp. Unit
BRPMU
+$2.04M
4
DHI icon
D.R. Horton
DHI
+$1.96M
5
CCVI.U
Churchill Capital Corp VI Units, each consisting of one share of Class A common stock, and one-fifth of one redeemable warrant
CCVI.U
+$1.95M

Top Sells

Rank Stock Value
1
CYXT
Cyxtera Technologies, Inc. Class A Common Stock
CYXT
+$3.17M
2
MAACU
Montes Archimedes Acquisition Corp. Unit
MAACU
+$2.1M
3
LCID icon
Lucid Motors
LCID
+$2M
4
FST
FAST Acquisition Corp.
FST
+$1.79M
5
LVOX
LiveVox Holding, Inc. Class A Common Stock
LVOX
+$1.04M

Sector Composition

Rank Sector Weight
1 Financials 27.18%
2 Industrials 12.15%
3 Consumer Discretionary 10.74%
4 Materials 9.18%
5 Energy 5.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UFPI icon
1
UFP Industries
UFPI
$4.92B
$4.55M 7.92%
60,000
+6,000
+11% +$376K
CCL icon
2
Carnival Corporation Ltd
CCL
$35.2B
$3.45M 6.01%
130,000
– –
BSN
3
DELISTED
Broadstone Acquisition Corp.
BSN
$3.21M 5.6%
328,200
– –
MAAC
4
DELISTED
Montes Archimedes Acquisition Corp. Class A Common Stock
MAAC
$2.93M 5.11%
+300,000
New +$3.05M
DAL icon
5
Delta Air Lines
DAL
$54.2B
$2.63M 4.58%
54,500
– –
ACII.U
6
PUT
DELISTED
Atlas Crest Investment Corp. II Units, each consisting of one Class A common stock, $.0001 par value, and one-fourth of one redeemable warrant
ACII.U
$2.55M 4.44%
+255,000
New +$2.67M
AGAC
7
DELISTED
African Gold Acquisition Corp
AGAC
$2.39M 4.17%
+250,000
New +$2.39M
CNR
8
DELISTED
Cornerstone Building Brands, Inc.
CNR
$2.38M 4.15%
170,000
+50,000
+42% +$606K
DHI icon
9
D.R. Horton
DHI
$41.7B
$2.23M 3.88%
+25,000
New +$1.96M
NEX
10
DELISTED
NexTier Oilfield Solutions Inc.
NEX
$2.21M 3.86%
595,103
-219,897
-27% -$889K
BRPMU
11
DELISTED
B. Riley Principal 150 Merger Corp. Unit
BRPMU
$2M 3.48%
+200,000
New +$2.04M
SLCR
12
DELISTED
Silver Crest Acquisition Corporation Class A Ordinary Share
SLCR
$1.94M 3.38%
+200,134
New +$1.94M
MVBF icon
13
MVB Financial
MVBF
$392M
$1.86M 3.24%
55,000
+19,863
+57% +$556K
CCVI.U
14
DELISTED
Churchill Capital Corp VI Units, each consisting of one share of Class A common stock, and one-fifth of one redeemable warrant
CCVI.U
$1.82M 3.17%
+180,711
New +$1.95M
TMAC
15
DELISTED
The Music Acquisition Corporation
TMAC
$1.71M 2.98%
+175,000
New +$1.7M
BBCP icon
16
Concrete Pumping Holdings
BBCP
$474M
$1.67M 2.9%
+225,000
New +$1.35M
HHH icon
17
Howard Hughes
HHH
$3.99B
$1.52M 2.65%
+16,784
New +$1.48M
COVAU
18
DELISTED
COVA Acquisition Corp. Unit
COVAU
$1.49M 2.6%
+150,000
New +$1.54M
SPKBU
19
DELISTED
Silver Spike Acquisition Corp II Units
SPKBU
$1.07M 1.86%
+107,150
New +$1.07M
TZPS
20
DELISTED
TZP Strategies Acquisition Corp. Class A Ordinary Share
TZPS
$1.02M 1.78%
+105,000
New +$1.03M
EVOJU
21
DELISTED
Evo Acquisition Corp. Unit
EVOJU
$993K 1.73%
+100,000
New +$1.01M
MON
22
DELISTED
Monument Circle Acquisition Corp. Class A Common Stock
MON
$722K 1.26%
+75,000
New +$728K
CAHC
23
DELISTED
CA Healthcare Acquisition Corp. Class A Common Stock
CAHC
$532K 0.93%
+55,000
New +$532K
FTAAU
24
DELISTED
FTAC Athena Acquisition Corp. Unit
FTAAU
$500K 0.87%
+50,000
New +$517K
MOND
25
DELISTED
Mondee Holdings, Inc. Class A Common Stock
MOND
$488K 0.85%
+50,000
New +$487K
1
2 3

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Covalent Partners's Q1 2021 Portfolio in Review

As of Q1 2021, Covalent Partners held 56 positions worth $57.4M, up 58% from $36.4M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Covalent Partners deployed $8.23M of net new capital in Q1 2021, opening 34 new positions and adding to 3 existing holdings. Its largest new stake was Montes Archimedes Acquisition Corp. Class A Common Stock: 300,000 shares worth $2.93M.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 16% a quarter earlier, followed by Industrials and Consumer Discretionary.

On the sell side, the largest reduction was NexTier Oilfield Solutions Inc., an estimated $889K trimmed.

  • Covalent Partners's largest Q1 2021 buy was Montes Archimedes Acquisition Corp. Class A Common Stock: 300,000 shares worth $2.93M.
  • Covalent Partners added most to Cornerstone Building Brands, Inc. in Q1 2021, an estimated $606K increase.
  • Covalent Partners's biggest Q1 2021 reduction was NexTier Oilfield Solutions Inc., cutting an estimated $889K.
  • Covalent Partners fully exited Cyxtera Technologies, Inc. Class A Common Stock in Q1 2021, selling an estimated $3.17M.
  • Covalent Partners's ten largest holdings make up 55% of its $57.4M portfolio in Q1 2021.
  • Covalent Partners opened 34 new positions and closed 9 in Q1 2021.
  • Covalent Partners's portfolio value rose 58% quarter-over-quarter to $57.4M.

Based on Covalent Partners's 13F filing for Q1 2021, filed 17 May 2021.