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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
-7.05%
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
$80.3M
AUM Growth
-$37.9M
(-32%)
Cap. Flow
-$37.5M
Cap. Flow
% of AUM
-46.7%
Top 10 Holdings %
Top 10 Hldgs %
83.03%
Holding
64
New
5
Increased
1
Reduced
8
Closed
15
Avg Time Held Equity + Options
3.6
quarters
Top 10 Avg Time Held Equity + Options
1.6
quarters
Top 20 Avg Time Held Equity + Options
2.1
quarters
Avg Time Held Equity only
3.9
quarters
Top 10 Avg Time Held Equity only
2.2
quarters
Top 20 Avg Time Held Equity only
2.4
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares Russell 2000 ETF
IWM
|
+$553K |
| 2 |
NINE
Nine Energy Service
NINE
|
+$225K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Hertz
HTZ
|
+$3.99M |
| 2 |
Helmerich & Payne
HP
|
+$3M |
| 3 |
UFP Industries
UFPI
|
+$2.83M |
| 4 |
Carnival Corporation Ltd
CCL
|
+$2.02M |
| 5 |
AGAC
African Gold Acquisition Corp
AGAC
|
+$1.96M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 77.43% |
| 2 | Financials | 10.86% |
| 3 | Consumer Discretionary | 4.79% |
| 4 | Industrials | 3.43% |
| 5 | Energy | 2.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$833B
| $34.7M | 43.22% |
+92,000
| New | +$37.7M |
2022 Q2
0 quarters
|
|
|
2
CALL
iShares Russell 2000 ETF
IWM
$77.4B
| $5.76M | 7.17% |
+34,000
| New | +$6.27M |
2022 Q2
0 quarters
|
|
3
CALL
SPDR Gold Trust
GLD
$142B
| $5.64M | 7.03% |
33,500
| – | – |
2021 Q2
4 quarters
|
|
4
CALL
Invesco QQQ Trust
QQQ
$507B
| $3.08M | 3.84% |
+11,000
| New | +$3.41M |
2022 Q2
0 quarters
|
|
5
Delta Air Lines
DAL
$54B
| $2.75M | 3.43% |
95,000
-16,000
| -14% | -$610K |
2020 Q2
8 quarters
|
|
6
D.R. Horton
DHI
$37.7B
| $2.32M | 2.89% |
35,000
-11,700
| -25% | -$822K |
2021 Q1
5 quarters
|
|
|
ACII
7
DELISTED
Atlas Crest Investment Corp. II
ACII
| $1.96M | 2.44% |
200,000
| – | – |
2021 Q2
4 quarters
|
|
|
CCVI
8
DELISTED
Churchill Capital Corp VI
CCVI
| $1.96M | 2.44% |
200,000
| – | – |
2021 Q2
4 quarters
|
|
|
REV
9
PUT
DELISTED
Revlon, Inc.
REV
| $1.72M | 2.14% |
+316,600
| New | +$1.74M |
2022 Q2
0 quarters
|
|
|
SKYA
10
DELISTED
Skydeck Acquisition Corp. Class A Ordinary Shares
SKYA
| $1.34M | 1.67% |
137,700
| – | – |
2021 Q3
3 quarters
|
|
11
Boyd Gaming
BYD
$5.01B
| $1.08M | 1.35% |
21,719
-28,281
| -57% | -$1.64M |
2021 Q2
4 quarters
|
|
|
TZPS
12
DELISTED
TZP Strategies Acquisition Corp. Class A Ordinary Share
TZPS
| $1.03M | 1.29% |
105,000
| – | – |
2021 Q1
5 quarters
|
|
|
TMAC
13
DELISTED
The Music Acquisition Corporation
TMAC
| $980K | 1.22% |
100,000
-75,000
| -43% | -$735K |
2021 Q1
5 quarters
|
|
14
California Resources
CRC
$4.7B
| $730K | 0.91% |
18,974
| – | – |
2020 Q4
6 quarters
|
|
|
PR
15
Permian Resources
PR
$19.3B
| $598K | 0.74% |
100,000
| – | – |
2018 Q3
15 quarters
|
|
|
NINE
16
DELISTED
Nine Energy Service
NINE
| $530K | 0.66% |
200,000
+74,799
| +60% | +$225K |
2022 Q1
1 quarter
|
|
|
17
UFP Industries
UFPI
$4.09B
| $511K | 0.64% |
7,500
-37,500
| -83% | -$2.83M |
2020 Q4
6 quarters
|
|
|
18
iShares Russell 2000 ETF
IWM
$77.4B
| $508K | 0.63% |
+3,000
| New | +$553K |
2022 Q2
0 quarters
|
|
|
DAOO
19
DELISTED
Crypto 1 Acquisition Corp Class A Ordinary Shares
DAOO
| $496K | 0.62% |
50,000
| – | – |
2022 Q1
1 quarter
|
|
|
EVOJ
20
DELISTED
Evo Acquisition Corp. Class A Common Stock
EVOJ
| $489K | 0.61% |
50,000
-50,000
| -50% | -$490K |
2021 Q2
4 quarters
|
|
21
Good Times Restaurants
GTIM
$15.4M
| $449K | 0.56% |
149,140
-5,360
| -3% | -$16.4K |
2021 Q4
2 quarters
|
|
|
AEAE
22
DELISTED
AltEnergy Acquisition Corp
AEAE
| $447K | 0.56% |
45,000
| – | – |
2021 Q4
2 quarters
|
|
23
Pro-Dex
PDEX
$202M
| $319K | 0.4% |
19,999
-1
| -0% | -$15 |
2021 Q3
3 quarters
|
|
24
Noble Corp
NE
$6.76B
| $113K | 0.14% |
4,475
| – | – |
2021 Q2
4 quarters
|
|
|
EVTL.WS
25
DELISTED
Vertical Aerospace Ltd. Warrants, each whole warrant exercisable for 1/10th of an ordinary share at an exercise price of $115.00 per share
EVTL.WS
| $64K | 0.08% |
164,100
| – | – |
2021 Q4
2 quarters
|
|
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Covalent Partners's Q2 2022 Portfolio in Review
As of Q2 2022, Covalent Partners held 64 positions worth $80.3M, down 32% from $118M the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Covalent Partners withdrew a net $37.5M in Q2 2022, closing 15 positions and reducing 8 holdings. Its most notable exit was Hertz, an estimated $3.99M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 77% of assets, up from 61% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Covalent Partners opened a new position in iShares Russell 2000 ETF worth $508K.
- Covalent Partners's largest Q2 2022 buy was iShares Russell 2000 ETF: 3,000 shares worth $508K.
- Covalent Partners added most to Nine Energy Service in Q2 2022, an estimated $225K increase.
- Covalent Partners's biggest Q2 2022 reduction was UFP Industries, cutting an estimated $2.83M.
- Covalent Partners fully exited Hertz in Q2 2022, selling an estimated $3.99M.
- Covalent Partners's ten largest holdings make up 83% of its $80.3M portfolio in Q2 2022.
- Covalent Partners opened 5 new positions and closed 15 in Q2 2022.
- Covalent Partners's portfolio value fell 32% quarter-over-quarter to $80.3M.
Based on Covalent Partners's 13F filing for Q2 2022, filed 15 Aug 2022.