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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
+5.99%
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
$114M
AUM Growth
+$56.7M
Cap. Flow
+$38.7M
Cap. Flow %
33.93%
Top 10 Hldgs %
72.33%
Holding
73
New
27
Increased
4
Reduced
4
Closed
14

Top Buys

Rank Stock Value
1
ACII
Atlas Crest Investment Corp. II
ACII
+$2.51M
2
CCVI
Churchill Capital Corp VI
CCVI
+$1.99M
3
FAZE
FaZe Holdings Inc. Common Stock
FAZE
+$1.96M
4
BYD icon
Boyd Gaming
BYD
+$1.73M
5
DHI icon
D.R. Horton
DHI
+$1.69M

Top Sells

Rank Stock Value
1
MAAC
Montes Archimedes Acquisition Corp. Class A Common Stock
MAAC
+$2.93M
2
BSN
Broadstone Acquisition Corp.
BSN
+$2.05M
3
BRPMU
B. Riley Principal 150 Merger Corp. Unit
BRPMU
+$2M
4
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
+$1.82M
5
COVAU
COVA Acquisition Corp. Unit
COVAU
+$1.49M

Sector Composition

Rank Sector Weight
1 Financials 16.87%
2 Consumer Discretionary 8.55%
3 Industrials 6.62%
4 Materials 5%
5 Energy 3.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$81.4B
$50.8M 44.52%
221,500
+147,000
+197% +$33.1M
GLD icon
2
CALL
SPDR Gold Trust
GLD
$155B
$5.55M 4.86%
+33,500
New +$5.69M
UFPI icon
3
UFP Industries
UFPI
$4.92B
$4.98M 4.36%
67,000
+7,000
+12% +$553K
DHI icon
4
D.R. Horton
DHI
$41.7B
$3.89M 3.4%
43,000
+18,000
+72% +$1.69M
CCL icon
5
Carnival Corporation Ltd
CCL
$35.2B
$3.69M 3.23%
140,000
+10,000
+8% +$280K
HAL icon
6
CALL
Halliburton
HAL
$28.9B
$3.36M 2.95%
+145,500
New +$3.23M
CNR
7
DELISTED
Cornerstone Building Brands, Inc.
CNR
$3M 2.63%
165,000
-5,000
-3% -$80.5K
ACII
8
DELISTED
Atlas Crest Investment Corp. II
ACII
$2.49M 2.18%
+255,000
New +$2.51M
AGAC
9
DELISTED
African Gold Acquisition Corp
AGAC
$2.41M 2.11%
250,000
– –
NEX
10
DELISTED
NexTier Oilfield Solutions Inc.
NEX
$2.38M 2.09%
500,000
-95,103
-16% -$418K
DAL icon
11
Delta Air Lines
DAL
$54.2B
$2.36M 2.07%
54,500
– –
MVBF icon
12
MVB Financial
MVBF
$392M
$2.35M 2.06%
55,000
– –
CCVI
13
DELISTED
Churchill Capital Corp VI
CCVI
$1.97M 1.73%
+200,000
New +$1.99M
FAZE
14
DELISTED
FaZe Holdings Inc. Common Stock
FAZE
$1.96M 1.72%
+201,000
New +$1.96M
SLCR
15
DELISTED
Silver Crest Acquisition Corporation Class A Ordinary Share
SLCR
$1.93M 1.69%
200,134
– –
BBCP icon
16
Concrete Pumping Holdings
BBCP
$474M
$1.91M 1.67%
225,000
– –
TMAC
17
DELISTED
The Music Acquisition Corporation
TMAC
$1.69M 1.48%
175,000
– –
BYD icon
18
Boyd Gaming
BYD
$5.89B
$1.69M 1.48%
+27,500
New +$1.73M
HHH icon
19
Howard Hughes
HHH
$3.99B
$1.56M 1.37%
16,784
– –
COVA
20
DELISTED
COVA Acquisition Corp. Class A Ordinary Share
COVA
$1.45M 1.27%
+150,000
New +$1.46M
SKYAU
21
DELISTED
Skydeck Acquisition Corp. Units
SKYAU
$1.38M 1.21%
+137,700
New +$1.38M
BSN
22
DELISTED
Broadstone Acquisition Corp.
BSN
$1.19M 1.04%
120,160
-208,040
-63% -$2.05M
SPKB
23
DELISTED
Silver Spike Acquisition Corp II Class A Ordinary Shares
SPKB
$1.07M 0.94%
+110,000
New +$1.08M
TZPS
24
DELISTED
TZP Strategies Acquisition Corp. Class A Ordinary Share
TZPS
$1.02M 0.89%
105,000
– –
EVOJ
25
DELISTED
Evo Acquisition Corp. Class A Common Stock
EVOJ
$970K 0.85%
+100,000
New +$973K
1
2 3

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Covalent Partners's Q2 2021 Portfolio in Review

As of Q2 2021, Covalent Partners held 73 positions worth $114M, up 99% from $57.4M the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Covalent Partners deployed $38.7M of net new capital in Q2 2021, opening 27 new positions and adding to 4 existing holdings. Its largest new stake was Atlas Crest Investment Corp. II: 255,000 shares worth $2.49M.

By sector, the portfolio is most concentrated in Financials at 17% of assets, down from 27% a quarter earlier, followed by Consumer Discretionary and Industrials.

On the sell side, the largest reduction was Broadstone Acquisition Corp., an estimated $2.05M trimmed.

  • Covalent Partners's largest Q2 2021 buy was Atlas Crest Investment Corp. II: 255,000 shares worth $2.49M.
  • Covalent Partners added most to D.R. Horton in Q2 2021, an estimated $1.69M increase.
  • Covalent Partners's biggest Q2 2021 reduction was Broadstone Acquisition Corp., cutting an estimated $2.05M.
  • Covalent Partners fully exited Montes Archimedes Acquisition Corp. Class A Common Stock in Q2 2021, selling an estimated $2.93M.
  • Covalent Partners's ten largest holdings make up 72% of its $114M portfolio in Q2 2021.
  • Covalent Partners opened 27 new positions and closed 14 in Q2 2021.
  • Covalent Partners's portfolio value rose 99% quarter-over-quarter to $114M.

Based on Covalent Partners's 13F filing for Q2 2021, filed 16 Aug 2021.