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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
+8.19%
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
$13.1M
AUM Growth
-$9.84M
Cap. Flow
-$15.6M
Cap. Flow %
-119.1%
Top 10 Hldgs %
96.85%
Holding
27
New
2
Increased
2
Reduced
1
Closed
10

Top Buys

Rank Stock Value
1
BOOM icon
DMC Global
BOOM
+$1.26M
2
CNK icon
Cinemark Holdings
CNK
+$1.02M
3
SEAT icon
Vivid Seats
SEAT
+$587K
4
SRFM icon
Surf Air Mobility
SRFM
+$111K

Top Sells

Rank Stock Value
1
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$4.18M
2
IWM icon
iShares Russell 2000 ETF
IWM
+$2.28M
3
DAL icon
Delta Air Lines
DAL
+$1.65M
4
GTIM icon
Good Times Restaurants
GTIM
+$233K
5
BLCO icon
Bausch + Lomb
BLCO
+$208K

Sector Composition

Rank Sector Weight
1 Energy 23.36%
2 Communication Services 21.79%
3 Industrials 12.36%
4 Healthcare 1.89%
5 Consumer Discretionary 0.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CNK icon
1
Cinemark Holdings
CNK
$4.45B
$2.25M 17.2%
125,000
+65,000
+108% +$1.02M
PR
2
Permian Resources
PR
$19.8B
$1.77M 13.52%
100,000
– –
BOOM icon
3
DMC Global
BOOM
$139M
$1.4M 10.74%
+72,000
New +$1.26M
CRC icon
4
California Resources
CRC
$4.65B
$1.05M 8.01%
18,974
– –
SEAT icon
5
Vivid Seats
SEAT
$78.7M
$599K 4.59%
+5,000
New +$587K
PDEX icon
6
Pro-Dex
PDEX
$213M
$247K 1.89%
14,053
-1,600
-10% -$30.2K
NE icon
7
Noble Corp
NE
$7.34B
$217K 1.66%
4,475
– –
SRFM icon
8
Surf Air Mobility
SRFM
$81.4M
$211K 1.61%
35,714
+14,285
+67% +$111K
NE.WS icon
9
Noble Corporation PLC Tranche 1 Warrants
NE.WS
$4.15B
$185K 1.41%
6,228
– –
NE.WS.A icon
10
Noble Corporation PLC Tranche 2 Warrants
NE.WS.A
$3.63B
$158K 1.21%
6,228
– –
THCH icon
11
TH International
THCH
$36.8M
$30.1K 0.23%
5,242
– –
NINE
12
DELISTED
Nine Energy Service
NINE
$22.4K 0.17%
10,000
– –
EVTL.WS
13
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
$13.1K 0.1%
164,100
– –
ECXWW
14
ECARX Holdings Warrants
ECXWW
$1.19M
$2.25K 0.02%
75,000
– –
AEAEW
15
DELISTED
AltEnergy Acquisition Corp Warrant
AEAEW
$1.13K 0.01%
22,500
– –
BLCO icon
16
Bausch + Lomb
BLCO
$6.19B
– –
-12,200
Closed -$208K
CIFR icon
17
Cipher Digital
CIFR
$6.37B
– –
-50,000
Closed -$207K
DAL icon
18
Delta Air Lines
DAL
$54.2B
– –
-41,000
Closed -$1.65M
GTIM icon
19
Good Times Restaurants
GTIM
$15.9M
– –
-91,894
Closed -$233K
HYG icon
20
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.6B
– –
-54,000
Closed -$4.18M
IWM icon
21
iShares Russell 2000 ETF
IWM
$81.4B
– –
-11,375
Closed -$2.28M
IWM icon
22
PUT
iShares Russell 2000 ETF
IWM
$81.4B
– –
-23,000
Closed -$4.62M
EACPW
23
DELISTED
Edify Acquisition Corp. Warrant
EACPW
– –
-15,000
Closed -$216
FAZEW
24
DELISTED
FaZe Holdings Inc. Warrant
FAZEW
– –
-65,000
Closed -$280
LMDXW
25
DELISTED
LumiraDx Limited Warrant
LMDXW
– –
-27,500
Closed -$237

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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 2024 Portfolio in Review

As of Q1 2024, Covalent Partners held 27 positions worth $13.1M, down 43% from $22.9M the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Covalent Partners withdrew a net $15.6M in Q1 2024, closing 10 positions and reducing 1 holding. Its most notable exit was iShares iBoxx $ High Yield Corporate Bond ETF, an estimated $4.18M position sold in full.

By sector, the portfolio is most concentrated in Energy at 23% of assets, up from 12% a quarter earlier, followed by Communication Services and Industrials.

Against the trend, Covalent Partners opened a new position in DMC Global worth $1.4M.

  • Covalent Partners's largest Q1 2024 buy was DMC Global: 72,000 shares worth $1.4M.
  • Covalent Partners added most to Cinemark Holdings in Q1 2024, an estimated $1.02M increase.
  • Covalent Partners's biggest Q1 2024 reduction was Pro-Dex, cutting an estimated $30.2K.
  • Covalent Partners fully exited iShares iBoxx $ High Yield Corporate Bond ETF in Q1 2024, selling an estimated $4.18M.
  • Covalent Partners's ten largest holdings make up 97% of its $13.1M portfolio in Q1 2024.
  • Covalent Partners opened 2 new positions and closed 10 in Q1 2024.
  • Covalent Partners's portfolio value fell 43% quarter-over-quarter to $13.1M.

Based on Covalent Partners's 13F filing for Q1 2024, filed 15 May 2024.