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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
-3.18%
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
$60.2M
AUM Growth
-$53.9M
Cap. Flow
-$2.6M
Cap. Flow %
-4.32%
Top 10 Hldgs %
55.9%
Holding
64
New
5
Increased
6
Reduced
8
Closed
10
Avg Time Held Equity + Options
2.2 quarters
Top 10 Avg Time Held Equity + Options
1.2 quarters
Top 20 Avg Time Held Equity + Options
3 quarters
Avg Time Held Equity only
2.2 quarters
Top 10 Avg Time Held Equity only
2 quarters
Top 20 Avg Time Held Equity only
3 quarters

Top Buys

Rank Stock Value
1
HP icon
Helmerich & Payne
HP
+$1.74M
2
SKYA
Skydeck Acquisition Corp. Class A Ordinary Shares
SKYA
+$1.33M
3
DAL icon
Delta Air Lines
DAL
+$1.04M
4
UFPI icon
UFP Industries
UFPI
+$1.02M
5
BYD icon
Boyd Gaming
BYD
+$919K

Top Sells

Rank Stock Value
1
SKYAU
Skydeck Acquisition Corp. Units
SKYAU
+$1.38M
2
SLCR
Silver Crest Acquisition Corporation Class A Ordinary Share
SLCR
+$1.27M
3
BSN
Broadstone Acquisition Corp.
BSN
+$1.19M
4
NEX
NexTier Oilfield Solutions Inc.
NEX
+$611K
5
ACII
Atlas Crest Investment Corp. II
ACII
+$535K

Sector Composition

Rank Sector Weight
1 Financials 27.49%
2 Miscellaneous 19.19%
3 Consumer Discretionary 15.92%
4 Industrials 13.33%
5 Materials 10.35%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
UFPI icon
1
UFP Industries
UFPI
$4.09B
$5.51M 9.14%
81,000
+14,000
+21% +$1.02M
2020 Q4
3 quarters
GLD icon
2
CALL
SPDR Gold Trust
GLD
$142B
$5.5M 9.13%
33,500
– –
2021 Q2
1 quarter
DHI icon
3
D.R. Horton
DHI
$37.7B
$3.44M 5.72%
41,000
-2,000
-5% -$184K
2021 Q1
2 quarters
DAL icon
4
Delta Air Lines
DAL
$54B
$3.41M 5.66%
80,000
+25,500
+47% +$1.04M
2020 Q2
5 quarters
HAL icon
5
CALL
Halliburton
HAL
$27.1B
$3.15M 5.22%
145,500
– –
2021 Q2
1 quarter
CCL icon
6
Carnival Corporation Ltd
CCL
$35.4B
$2.94M 4.88%
117,500
-22,500
-16% -$523K
2020 Q4
3 quarters
BYD icon
7
Boyd Gaming
BYD
$5.01B
$2.72M 4.52%
43,000
+15,500
+56% +$919K
2021 Q2
1 quarter
CNR
8
DELISTED
Cornerstone Building Brands, Inc.
CNR
$2.7M 4.49%
185,000
+20,000
+12% +$325K
2019 Q2
9 quarters
MVBF icon
9
MVB Financial
MVBF
$375M
$2.36M 3.91%
55,000
– –
2020 Q4
3 quarters
CCVI
10
DELISTED
Churchill Capital Corp VI
CCVI
$1.95M 3.24%
200,000
– –
2021 Q2
1 quarter
ACII
11
DELISTED
Atlas Crest Investment Corp. II
ACII
$1.95M 3.24%
200,000
-55,000
-22% -$535K
2021 Q2
1 quarter
AGAC
12
DELISTED
African Gold Acquisition Corp
AGAC
$1.94M 3.23%
200,000
-50,000
-20% -$483K
2021 Q1
2 quarters
BBCP icon
13
Concrete Pumping Holdings
BBCP
$472M
$1.92M 3.19%
225,000
– –
2021 Q1
2 quarters
HP icon
14
Helmerich & Payne
HP
$3.99B
$1.71M 2.84%
+62,500
New +$1.74M
2021 Q3
0 quarters
TMAC
15
DELISTED
The Music Acquisition Corporation
TMAC
$1.7M 2.83%
175,000
– –
2021 Q1
2 quarters
NEX
16
DELISTED
NexTier Oilfield Solutions Inc.
NEX
$1.6M 2.66%
348,100
-151,900
-30% -$611K
2018 Q2
13 quarters
FAZE
17
DELISTED
FaZe Holdings Inc. Common Stock
FAZE
$1.46M 2.43%
150,000
-51,000
-25% -$495K
2021 Q2
1 quarter
COVA
18
DELISTED
COVA Acquisition Corp. Class A Ordinary Share
COVA
$1.46M 2.43%
150,000
– –
2021 Q2
1 quarter
HHH icon
19
Howard Hughes
HHH
$4.4B
$1.41M 2.33%
16,784
– –
2021 Q1
2 quarters
SKYA
20
DELISTED
Skydeck Acquisition Corp. Class A Ordinary Shares
SKYA
$1.33M 2.21%
+137,700
New +$1.33M
2021 Q3
0 quarters
SPKB
21
DELISTED
Silver Spike Acquisition Corp II Class A Ordinary Shares
SPKB
$1.08M 1.79%
110,000
– –
2021 Q2
1 quarter
TZPS
22
DELISTED
TZP Strategies Acquisition Corp. Class A Ordinary Share
TZPS
$1.03M 1.7%
105,000
– –
2021 Q1
2 quarters
EVOJ
23
DELISTED
Evo Acquisition Corp. Class A Common Stock
EVOJ
$969K 1.61%
100,000
– –
2021 Q2
1 quarter
CRC icon
24
California Resources
CRC
$4.7B
$778K 1.29%
18,974
– –
2020 Q4
3 quarters
MON
25
DELISTED
Monument Circle Acquisition Corp. Class A Common Stock
MON
$732K 1.22%
75,000
– –
2021 Q1
2 quarters
1
2 3

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Covalent Partners's Q3 2021 Portfolio in Review

As of Q3 2021, Covalent Partners held 64 positions worth $60.2M, down 47% from $114M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Covalent Partners withdrew a net $2.6M in Q3 2021, closing 10 positions and reducing 8 holdings. Its most notable exit was Skydeck Acquisition Corp. Units, an estimated $1.38M position sold in full.

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

Against the trend, Covalent Partners opened a new position in Helmerich & Payne worth $1.71M.

  • Covalent Partners's largest Q3 2021 buy was Helmerich & Payne: 62,500 shares worth $1.71M.
  • Covalent Partners added most to Delta Air Lines in Q3 2021, an estimated $1.04M increase.
  • Covalent Partners's biggest Q3 2021 reduction was Silver Crest Acquisition Corporation Class A Ordinary Share, cutting an estimated $1.27M.
  • Covalent Partners fully exited Skydeck Acquisition Corp. Units in Q3 2021, selling an estimated $1.38M.
  • Covalent Partners's ten largest holdings make up 56% of its $60.2M portfolio in Q3 2021.
  • Covalent Partners opened 5 new positions and closed 10 in Q3 2021.
  • Covalent Partners's portfolio value fell 47% quarter-over-quarter to $60.2M.

Based on Covalent Partners's 13F filing for Q3 2021, filed 15 Nov 2021.