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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
-9.25%
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
$20.2M
AUM Growth
-$7.1M
Cap. Flow
-$5.94M
Cap. Flow %
-29.38%
Top 10 Hldgs %
94%
Holding
19
New
2
Increased
3
Reduced
3
Closed
4

Top Buys

Rank Stock Value
1
CNK icon
Cinemark Holdings
CNK
+$1.45M
2
MCS icon
Marcus Corp
MCS
+$560K
3
AMC icon
AMC Entertainment Holdings
AMC
+$115K

Top Sells

Rank Stock Value
1
LGIH icon
LGI Homes
LGIH
+$733K
2
EPR icon
EPR Properties
EPR
+$554K
3
SEAT icon
Vivid Seats
SEAT
+$503K
4
EPR.PRC icon
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
+$223K
5
THCH icon
TH International
THCH
+$3

Sector Composition

Rank Sector Weight
1 Communication Services 27.93%
2 Energy 6.11%
3 Consumer Discretionary 0.08%
4 Real Estate 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IWM icon
1
PUT
iShares Russell 2000 ETF
IWM
$81.4B
$3.99M 19.74%
+20,000
New +$4.34M
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$819B
$3.08M 15.22%
+5,500
New +$3.23M
CNK icon
3
Cinemark Holdings
CNK
$4.45B
$3.04M 15.02%
122,000
+52,000
+74% +$1.45M
EPR.PRC icon
4
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$145M
$1.97M 9.77%
85,562
-10,000
-10% -$223K
MCS icon
5
Marcus Corp
MCS
$953M
$1.82M 9%
109,000
+29,000
+36% +$560K
CRC icon
6
California Resources
CRC
$4.65B
$834K 4.13%
18,974
– –
EPR.PRE icon
7
EPR Properties 9.00% Series E Preferred Shares
EPR.PRE
$112M
$600K 2.97%
20,000
– –
SEAT icon
8
Vivid Seats
SEAT
$78.7M
$518K 2.56%
8,750
-6,250
-42% -$503K
NE icon
9
Noble Corp
NE
$7.34B
$401K 1.99%
16,931
– –
AMC icon
10
AMC Entertainment Holdings
AMC
$2.38B
$273K 1.35%
95,000
+35,000
+58% +$115K
THCH icon
11
TH International
THCH
$36.8M
$15.4K 0.08%
5,241
-1
-0% -$3
ECXWW
12
ECARX Holdings Warrants
ECXWW
$1.19M
$4.5K 0.02%
75,000
– –
ALTG icon
13
PUT
Alta Equipment Group
ALTG
$208M
– –
-120,000
Closed -$785K
EPR icon
14
EPR Properties
EPR
$4.64B
– –
-12,500
Closed -$554K
IWM icon
15
CALL
iShares Russell 2000 ETF
IWM
$81.4B
– –
-55,000
Closed -$12.2M
LGIH icon
16
LGI Homes
LGIH
$1.35B
– –
-8,200
Closed -$733K

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Covalent Partners's Q1 2025 Portfolio in Review

As of Q1 2025, Covalent Partners held 19 positions worth $20.2M, down 26% from $27.3M the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Covalent Partners withdrew a net $5.94M in Q1 2025, closing 4 positions and reducing 3 holdings. Its most notable exit was LGI Homes, an estimated $733K position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 28% of assets, up from 20% a quarter earlier, followed by Energy and Consumer Discretionary.

Against the trend, Covalent Partners added an estimated $1.45M to Cinemark Holdings.

  • Covalent Partners added most to Cinemark Holdings in Q1 2025, an estimated $1.45M increase.
  • Covalent Partners's biggest Q1 2025 reduction was Vivid Seats, cutting an estimated $503K.
  • Covalent Partners fully exited LGI Homes in Q1 2025, selling an estimated $733K.
  • Covalent Partners's ten largest holdings make up 94% of its $20.2M portfolio in Q1 2025.
  • Covalent Partners opened 2 new positions and closed 4 in Q1 2025.
  • Covalent Partners's portfolio value fell 26% quarter-over-quarter to $20.2M.

Based on Covalent Partners's 13F filing for Q1 2025, filed 15 May 2025.