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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
+5.44%
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
$27.3M
AUM Growth
+$15.5M
Cap. Flow
+$12.5M
Cap. Flow %
45.61%
Top 10 Hldgs %
90.58%
Holding
19
New
7
Increased
–
Reduced
3
Closed
2

Top Buys

Rank Stock Value
1
EPR.PRC icon
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
+$2.05M
2
MCS icon
Marcus Corp
MCS
+$1.59M
3
EPR.PRE icon
EPR Properties 9.00% Series E Preferred Shares
EPR.PRE
+$591K
4
EPR icon
EPR Properties
EPR
+$573K
5
AMC icon
AMC Entertainment Holdings
AMC
+$263K

Top Sells

Rank Stock Value
1
LGIH icon
LGI Homes
LGIH
+$1.49M
2
CNK icon
Cinemark Holdings
CNK
+$464K
3
SEAT icon
Vivid Seats
SEAT
+$280K
4
EVTL.WS
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
+$3.02K
5
AEAEW
AltEnergy Acquisition Corp Warrant
AEAEW
+$252

Sector Composition

Rank Sector Weight
1 Communication Services 20.19%
2 Energy 5.55%
3 Consumer Discretionary 2.75%
4 Real Estate 2.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
CALL
iShares Russell 2000 ETF
IWM
$81.4B
$12.2M 44.49%
+55,000
New +$12.5M
CNK icon
2
Cinemark Holdings
CNK
$4.45B
$2.17M 7.94%
70,000
-15,000
-18% -$464K
EPR.PRC icon
3
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$145M
$1.99M 7.28%
+95,562
New +$2.05M
MCS icon
4
Marcus Corp
MCS
$953M
$1.72M 6.3%
+80,000
New +$1.59M
SEAT icon
5
Vivid Seats
SEAT
$78.7M
$1.39M 5.08%
15,000
-3,750
-20% -$280K
CRC icon
6
California Resources
CRC
$4.65B
$985K 3.6%
18,974
– –
ALTG icon
7
PUT
Alta Equipment Group
ALTG
$208M
$785K 2.87%
+120,000
New +$836K
LGIH icon
8
LGI Homes
LGIH
$1.35B
$733K 2.68%
8,200
-14,200
-63% -$1.49M
EPR icon
9
EPR Properties
EPR
$4.64B
$554K 2.03%
+12,500
New +$573K
EPR.PRE icon
10
EPR Properties 9.00% Series E Preferred Shares
EPR.PRE
$112M
$545K 1.99%
+20,000
New +$591K
NE icon
11
Noble Corp
NE
$7.34B
$532K 1.95%
16,931
– –
AMC icon
12
AMC Entertainment Holdings
AMC
$2.38B
$239K 0.87%
+60,000
New +$263K
THCH icon
13
TH International
THCH
$36.8M
$18.6K 0.07%
5,242
– –
ECXWW
14
ECARX Holdings Warrants
ECXWW
$1.19M
$3.75K 0.01%
75,000
– –
EVTL.WS
15
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
– –
-164,100
Closed -$3.02K
AEAEW
16
DELISTED
AltEnergy Acquisition Corp Warrant
AEAEW
– –
-22,500
Closed -$252

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HAM
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BCA
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BCM
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Covalent Partners's Q4 2024 Portfolio in Review

As of Q4 2024, Covalent Partners held 19 positions worth $27.3M, up 132% from $11.8M the previous quarter. Its ten largest holdings account for 91% of the portfolio.

Covalent Partners deployed $12.5M of net new capital in Q4 2024, opening 7 new positions. Its largest new stake was EPR Properties 5.75% Series C Preferred Shares: 95,562 shares worth $1.99M.

By sector, the portfolio is most concentrated in Communication Services at 20% of assets, down from 32% a quarter earlier, followed by Energy and Consumer Discretionary.

On the sell side, the largest reduction was LGI Homes, an estimated $1.49M trimmed.

  • Covalent Partners's largest Q4 2024 buy was EPR Properties 5.75% Series C Preferred Shares: 95,562 shares worth $1.99M.
  • Covalent Partners's biggest Q4 2024 reduction was LGI Homes, cutting an estimated $1.49M.
  • Covalent Partners fully exited Vertical Aerospace Ltd. Warrants, each whole warrant exercisable for 1/10th of an ordinary share at an exercise price of $115.00 per share in Q4 2024, selling an estimated $3.02K.
  • Covalent Partners's ten largest holdings make up 91% of its $27.3M portfolio in Q4 2024.
  • Covalent Partners opened 7 new positions and closed 2 in Q4 2024.
  • Covalent Partners's portfolio value rose 132% quarter-over-quarter to $27.3M.

Based on Covalent Partners's 13F filing for Q4 2024, filed 14 Feb 2025.