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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
+3.87%
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
$118M
AUM Growth
+$57.8M
Cap. Flow
+$50K
Cap. Flow %
0.04%
Top 10 Hldgs %
63.67%
Holding
67
New
10
Increased
4
Reduced
4
Closed
3
Avg Time Held Equity + Options
2.5 quarters
Top 10 Avg Time Held Equity + Options
1.2 quarters
Top 20 Avg Time Held Equity + Options
2.7 quarters
Avg Time Held Equity only
2.7 quarters
Top 10 Avg Time Held Equity only
1.9 quarters
Top 20 Avg Time Held Equity only
3.6 quarters

Top Buys

Rank Stock Value
1
DAL icon
Delta Air Lines
DAL
+$1.72M
2
LUV icon
Southwest Airlines
LUV
+$1.17M
3
HP icon
Helmerich & Payne
HP
+$869K
4
DAOOU
Crypto 1 Acquisition Corp Unit
DAOOU
+$507K
5
AEAE
AltEnergy Acquisition Corp
AEAE
+$446K

Top Sells

Rank Stock Value
1
UFPI icon
UFP Industries
UFPI
+$1.77M
2
CCL icon
Carnival Corporation Ltd
CCL
+$1.44M
3
FAZE
FaZe Holdings Inc. Common Stock
FAZE
+$510K
4
BSN.WS
Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share
BSN.WS
+$177K
5
MAACW
Montes Archimedes Acquisition Corp. Warrant
MAACW
+$149K

Sector Composition

Rank Sector Weight
1 Miscellaneous 56.17%
2 Financials 14.36%
3 Industrials 9.28%
4 Consumer Discretionary 7.98%
5 Materials 5.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$77.4B
$21.1M 17.91%
+95,000
New +$21.5M
2021 Q4
0 quarters
USO icon
2
PUT
United States Oil Fund
USO
$1.68B
$12.5M 10.6%
+230,000
New +$12.5M
2021 Q4
0 quarters
AMC icon
3
PUT
AMC Entertainment Holdings
AMC
$2.66B
$8.16M 6.91%
+30,000
New +$10.6M
2021 Q4
0 quarters
GLD icon
4
CALL
SPDR Gold Trust
GLD
$142B
$5.73M 4.85%
33,500
– –
2021 Q2
2 quarters
UFPI icon
5
UFP Industries
UFPI
$4.09B
$5.52M 4.68%
60,000
-21,000
-26% -$1.77M
2020 Q4
4 quarters
DAL icon
6
Delta Air Lines
DAL
$54B
$4.81M 4.07%
123,000
+43,000
+54% +$1.72M
2020 Q2
6 quarters
DHI icon
7
D.R. Horton
DHI
$37.7B
$4.45M 3.77%
41,000
– –
2021 Q1
3 quarters
HAL icon
8
CALL
Halliburton
HAL
$27.1B
$3.33M 2.82%
145,500
– –
2021 Q2
2 quarters
BYD icon
9
Boyd Gaming
BYD
$5.01B
$3.28M 2.78%
50,000
+7,000
+16% +$444K
2021 Q2
2 quarters
CNR
10
DELISTED
Cornerstone Building Brands, Inc.
CNR
$3.23M 2.73%
185,000
– –
2019 Q2
10 quarters
MVBF icon
11
MVB Financial
MVBF
$375M
$2.28M 1.94%
55,000
– –
2020 Q4
4 quarters
HP icon
12
Helmerich & Payne
HP
$3.99B
$2.2M 1.87%
93,000
+30,500
+49% +$869K
2021 Q3
1 quarter
CCVI
13
DELISTED
Churchill Capital Corp VI
CCVI
$1.96M 1.66%
200,000
– –
2021 Q2
2 quarters
ACII
14
DELISTED
Atlas Crest Investment Corp. II
ACII
$1.95M 1.65%
200,000
– –
2021 Q2
2 quarters
AGAC
15
DELISTED
African Gold Acquisition Corp
AGAC
$1.94M 1.64%
200,000
– –
2021 Q1
3 quarters
BBCP icon
16
Concrete Pumping Holdings
BBCP
$472M
$1.84M 1.56%
225,000
– –
2021 Q1
3 quarters
TMAC
17
DELISTED
The Music Acquisition Corporation
TMAC
$1.71M 1.45%
175,000
– –
2021 Q1
3 quarters
HHH icon
18
Howard Hughes
HHH
$4.4B
$1.63M 1.38%
16,784
– –
2021 Q1
3 quarters
COVA
19
DELISTED
COVA Acquisition Corp. Class A Ordinary Share
COVA
$1.46M 1.24%
150,000
– –
2021 Q2
2 quarters
SKYA
20
DELISTED
Skydeck Acquisition Corp. Class A Ordinary Shares
SKYA
$1.35M 1.14%
137,700
– –
2021 Q3
1 quarter
NEX
21
DELISTED
NexTier Oilfield Solutions Inc.
NEX
$1.33M 1.13%
375,000
+26,900
+8% +$113K
2018 Q2
14 quarters
LUV icon
22
Southwest Airlines
LUV
$20.4B
$1.07M 0.91%
+25,000
New +$1.17M
2021 Q4
0 quarters
SPKB
23
DELISTED
Silver Spike Acquisition Corp II Class A Ordinary Shares
SPKB
$1.07M 0.91%
110,000
– –
2021 Q2
2 quarters
TZPS
24
DELISTED
TZP Strategies Acquisition Corp. Class A Ordinary Share
TZPS
$1.03M 0.87%
105,000
– –
2021 Q1
3 quarters
FAZE
25
DELISTED
FaZe Holdings Inc. Common Stock
FAZE
$1.01M 0.86%
100,000
-50,000
-33% -$510K
2021 Q2
2 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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Covalent Partners's Q4 2021 Portfolio in Review

As of Q4 2021, Covalent Partners held 67 positions worth $118M, up 96% from $60.2M the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Covalent Partners's Q4 2021 filing shows 10 new, 4 increased, 4 reduced and 3 closed positions. Its largest new stake was Southwest Airlines: 25,000 shares worth $1.07M. The largest sale was UFP Industries, an estimated $1.77M.

By sector, the portfolio is most concentrated in Miscellaneous at 56% of assets, up from 19% a quarter earlier, followed by Financials and Industrials.

  • Covalent Partners's largest Q4 2021 buy was Southwest Airlines: 25,000 shares worth $1.07M.
  • Covalent Partners added most to Delta Air Lines in Q4 2021, an estimated $1.72M increase.
  • Covalent Partners's biggest Q4 2021 reduction was UFP Industries, cutting an estimated $1.77M.
  • Covalent Partners fully exited Broadstone Acquisition Corp. Warrants, each whole warrant exercisable for one Class A ordinary share in Q4 2021, selling an estimated $177K.
  • Covalent Partners's ten largest holdings make up 64% of its $118M portfolio in Q4 2021.
  • Covalent Partners opened 10 new positions and closed 3 in Q4 2021.
  • Covalent Partners's portfolio value rose 96% quarter-over-quarter to $118M.

Based on Covalent Partners's 13F filing for Q4 2021, filed 14 Feb 2022.