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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
+$7.47M
Cap. Flow %
13%
Top 10 Hldgs %
55.12%
Holding
56
New
34
Increased
3
Reduced
2
Closed
9
Avg Time Held Equity + Options
1.1 quarters
Top 10 Avg Time Held Equity + Options
1.3 quarters
Top 20 Avg Time Held Equity + Options
1.9 quarters
Avg Time Held Equity only
1.2 quarters
Top 10 Avg Time Held Equity only
2.3 quarters
Top 20 Avg Time Held Equity only
1.9 quarters

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 Miscellaneous 32.72%
2 Financials 27.18%
3 Industrials 12.15%
4 Consumer Discretionary 10.74%
5 Materials 9.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
UFPI icon
1
UFP Industries
UFPI
$4.09B
$4.55M 7.92%
60,000
+6,000
+11% +$376K
2020 Q4
1 quarter
CCL icon
2
Carnival Corporation Ltd
CCL
$35.4B
$3.45M 6.01%
130,000
– –
2020 Q4
1 quarter
BSN
3
DELISTED
Broadstone Acquisition Corp.
BSN
$3.21M 5.6%
328,200
– –
2020 Q4
1 quarter
MAAC
4
DELISTED
Montes Archimedes Acquisition Corp. Class A Common Stock
MAAC
$2.93M 5.11%
+300,000
New +$3.05M
2021 Q1
0 quarters
DAL icon
5
Delta Air Lines
DAL
$54B
$2.63M 4.58%
54,500
– –
2020 Q2
3 quarters
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
2021 Q1
0 quarters
AGAC
7
DELISTED
African Gold Acquisition Corp
AGAC
$2.39M 4.17%
+250,000
New +$2.39M
2021 Q1
0 quarters
CNR
8
DELISTED
Cornerstone Building Brands, Inc.
CNR
$2.38M 4.15%
170,000
+50,000
+42% +$606K
2019 Q2
7 quarters
DHI icon
9
D.R. Horton
DHI
$37.7B
$2.23M 3.88%
+25,000
New +$1.96M
2021 Q1
0 quarters
NEX
10
DELISTED
NexTier Oilfield Solutions Inc.
NEX
$2.21M 3.86%
595,103
-219,897
-27% -$889K
2018 Q2
11 quarters
BRPMU
11
DELISTED
B. Riley Principal 150 Merger Corp. Unit
BRPMU
$2M 3.48%
+200,000
New +$2.04M
2021 Q1
0 quarters
SLCR
12
DELISTED
Silver Crest Acquisition Corporation Class A Ordinary Share
SLCR
$1.94M 3.38%
+200,134
New +$1.94M
2021 Q1
0 quarters
MVBF icon
13
MVB Financial
MVBF
$375M
$1.86M 3.24%
55,000
+19,863
+57% +$556K
2020 Q4
1 quarter
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
2021 Q1
0 quarters
TMAC
15
DELISTED
The Music Acquisition Corporation
TMAC
$1.71M 2.98%
+175,000
New +$1.7M
2021 Q1
0 quarters
BBCP icon
16
Concrete Pumping Holdings
BBCP
$472M
$1.67M 2.9%
+225,000
New +$1.35M
2021 Q1
0 quarters
HHH icon
17
Howard Hughes
HHH
$4.4B
$1.52M 2.65%
+16,784
New +$1.48M
2021 Q1
0 quarters
COVAU
18
DELISTED
COVA Acquisition Corp. Unit
COVAU
$1.49M 2.6%
+150,000
New +$1.54M
2021 Q1
0 quarters
SPKBU
19
DELISTED
Silver Spike Acquisition Corp II Units
SPKBU
$1.07M 1.86%
+107,150
New +$1.07M
2021 Q1
0 quarters
TZPS
20
DELISTED
TZP Strategies Acquisition Corp. Class A Ordinary Share
TZPS
$1.02M 1.78%
+105,000
New +$1.03M
2021 Q1
0 quarters
EVOJU
21
DELISTED
Evo Acquisition Corp. Unit
EVOJU
$993K 1.73%
+100,000
New +$1.01M
2021 Q1
0 quarters
MON
22
DELISTED
Monument Circle Acquisition Corp. Class A Common Stock
MON
$722K 1.26%
+75,000
New +$728K
2021 Q1
0 quarters
CAHC
23
DELISTED
CA Healthcare Acquisition Corp. Class A Common Stock
CAHC
$532K 0.93%
+55,000
New +$532K
2021 Q1
0 quarters
FTAAU
24
DELISTED
FTAC Athena Acquisition Corp. Unit
FTAAU
$500K 0.87%
+50,000
New +$517K
2021 Q1
0 quarters
MOND
25
DELISTED
Mondee Holdings, Inc. Class A Common Stock
MOND
$488K 0.85%
+50,000
New +$487K
2021 Q1
0 quarters
1
2 3

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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 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 $7.47M 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 Miscellaneous at 33% of assets, up from 31% a quarter earlier, followed by Financials and Industrials.

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.