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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
+3.8%
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
$7.47M
AUM Growth
-$5.59M
Cap. Flow
-$3.04M
Cap. Flow %
-40.7%
Top 10 Hldgs %
100%
Holding
17
New
1
Increased
3
Reduced
–
Closed
7

Top Buys

Rank Stock Value
1
SEAT icon
Vivid Seats
SEAT
+$680K
2
NE icon
Noble Corp
NE
+$576K
3
ALTG icon
Alta Equipment Group
ALTG
+$506K
4
CNK icon
Cinemark Holdings
CNK
+$181K

Top Sells

Rank Stock Value
1
PR
Permian Resources
PR
+$1.77M
2
BOOM icon
DMC Global
BOOM
+$1.4M
3
PDEX icon
Pro-Dex
PDEX
+$247K
4
SRFM icon
Surf Air Mobility
SRFM
+$211K
5
NE.WS icon
Noble Corporation PLC Tranche 1 Warrants
NE.WS
+$185K

Sector Composition

Rank Sector Weight
1 Communication Services 56.37%
2 Energy 23.63%
3 Industrials 5.38%
4 Consumer Discretionary 0.26%
5 Healthcare 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CNK icon
1
Cinemark Holdings
CNK
$4.45B
$2.92M 39.05%
135,000
+10,000
+8% +$181K
SEAT icon
2
Vivid Seats
SEAT
$78.7M
$1.29M 17.31%
11,250
+6,250
+125% +$680K
CRC icon
3
California Resources
CRC
$4.65B
$1.01M 13.51%
18,974
– –
NE icon
4
Noble Corp
NE
$7.34B
$756K 10.12%
16,931
+12,456
+278% +$576K
ALTG icon
5
Alta Equipment Group
ALTG
$208M
$402K 5.38%
+50,000
New +$506K
THCH icon
6
TH International
THCH
$36.8M
$19.6K 0.26%
5,242
– –
EVTL.WS
7
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
$5.74K 0.08%
164,100
– –
ECXWW
8
ECARX Holdings Warrants
ECXWW
$1.19M
$2.56K 0.03%
75,000
– –
AEAEW
9
DELISTED
AltEnergy Acquisition Corp Warrant
AEAEW
$522 0.01%
22,500
– –
BOOM icon
10
DMC Global
BOOM
$139M
– –
-72,000
Closed -$1.4M
NE.WS icon
11
Noble Corporation PLC Tranche 1 Warrants
NE.WS
$4.15B
– –
-6,228
Closed -$185K
NE.WS.A icon
12
Noble Corporation PLC Tranche 2 Warrants
NE.WS.A
$3.63B
– –
-6,228
Closed -$158K
NINE
13
DELISTED
Nine Energy Service
NINE
– –
-10,000
Closed -$22.4K
PDEX icon
14
Pro-Dex
PDEX
$213M
– –
-14,053
Closed -$247K
PR
15
Permian Resources
PR
$19.8B
– –
-100,000
Closed -$1.77M
SRFM icon
16
Surf Air Mobility
SRFM
$81.4M
– –
-35,714
Closed -$211K

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Covalent Partners's Q2 2024 Portfolio in Review

As of Q2 2024, Covalent Partners held 17 positions worth $7.47M, down 43% from $13.1M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Covalent Partners withdrew a net $3.04M in Q2 2024, closing 7 positions. Its most notable exit was Permian Resources, an estimated $1.77M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 56% of assets, up from 22% a quarter earlier, followed by Energy and Industrials.

Against the trend, Covalent Partners opened a new position in Alta Equipment Group worth $402K.

  • Covalent Partners's largest Q2 2024 buy was Alta Equipment Group: 50,000 shares worth $402K.
  • Covalent Partners added most to Vivid Seats in Q2 2024, an estimated $680K increase.
  • Covalent Partners fully exited Permian Resources in Q2 2024, selling an estimated $1.77M.
  • Covalent Partners's ten largest holdings make up 100% of its $7.47M portfolio in Q2 2024.
  • Covalent Partners opened 1 new position and closed 7 in Q2 2024.
  • Covalent Partners's portfolio value fell 43% quarter-over-quarter to $7.47M.

Based on Covalent Partners's 13F filing for Q2 2024, filed 14 Aug 2024.