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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
-0.03%
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
$26.6M
AUM Growth
-$15M
(-36%)
Cap. Flow
+$2.4M
Cap. Flow
% of AUM
9.03%
Top 10 Holdings %
Top 10 Hldgs %
82.18%
Holding
19
New
8
Increased
1
Reduced
2
Closed
1
Avg Time Held Equity + Options
3.2
quarters
Top 10 Avg Time Held Equity + Options
2.6
quarters
Top 20 Avg Time Held Equity + Options
2.6
quarters
Avg Time Held Equity only
3.4
quarters
Top 10 Avg Time Held Equity only
2.9
quarters
Top 20 Avg Time Held Equity only
2.8
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
UFP Industries
UFPI
|
+$1.87M |
| 2 |
Gibraltar Industries
ROCK
|
+$1.69M |
| 3 |
PENN Entertainment
PENN
|
+$1.41M |
| 4 |
Greene County Bancorp
GCBC
|
+$1.1M |
| 5 |
Caesars Entertainment
CZR
|
+$677K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AMC Entertainment Holdings
AMC
|
+$998K |
| 2 |
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
|
+$761K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 46.87% |
| 2 | Communication Services | 20.58% |
| 3 | Consumer Discretionary | 7.99% |
| 4 | Materials | 6.51% |
| 5 | Industrials | 6.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
PUT
iShares Russell 2000 ETF
IWM
$77.4B
| $6.05M | 22.78% |
+25,000
| New | +$5.74M |
2025 Q3
0 quarters
|
|
2
Marcus Corp
MCS
$835M
| $2.59M | 9.76% |
167,000
| – | – |
2024 Q4
3 quarters
|
|
3
Cinemark Holdings
CNK
$4.22B
| $2.44M | 9.18% |
87,000
+10,000
| +13% | +$276K |
2023 Q3
8 quarters
|
|
|
4
UFP Industries
UFPI
$4.09B
| $1.73M | 6.51% |
+18,500
| New | +$1.87M |
2025 Q3
0 quarters
|
|
|
5
Gibraltar Industries
ROCK
$1.09B
| $1.7M | 6.39% |
+27,000
| New | +$1.69M |
2025 Q3
0 quarters
|
|
|
6
PENN Entertainment
PENN
$2.08B
| $1.44M | 5.44% |
+75,000
| New | +$1.41M |
2025 Q3
0 quarters
|
|
|
7
EPR Properties 5.75% Series C Preferred Shares
EPR.PRC
$131M
| $1.4M | 5.27% |
55,000
-30,562
| -36% | -$761K |
2024 Q4
3 quarters
|
|
|
8
Greene County Bancorp
GCBC
$573M
| $1.03M | 3.89% |
+45,671
| New | +$1.1M |
2025 Q3
0 quarters
|
|
9
California Resources
CRC
$4.7B
| $1.01M | 3.8% |
18,974
| – | – |
2020 Q4
19 quarters
|
|
|
10
Caesars Entertainment
CZR
$6.01B
| $676K | 2.54% |
+25,000
| New | +$677K |
2025 Q3
0 quarters
|
|
|
11
EPR Properties 9.00% Series E Preferred Shares
EPR.PRE
$104M
| $631K | 2.38% |
20,000
| – | – |
2024 Q4
3 quarters
|
|
12
SR Bancorp
SRBK
$131M
| $608K | 2.29% |
+40,260
| New | +$586K |
2025 Q3
0 quarters
|
|
13
Regeneron Pharmaceuticals
REGN
$76.9B
| $450K | 1.69% |
+800
| New | +$452K |
2025 Q3
0 quarters
|
|
|
14
AMC Entertainment Holdings
AMC
$2.66B
| $435K | 1.64% |
150,000
-336,000
| -69% | -$998K |
2024 Q4
3 quarters
|
|
|
ECXWW
15
ECARX Holdings Warrants
ECXWW
| $4.5K | 0.02% |
75,000
| – | – |
2022 Q4
11 quarters
|
|
16
PUT
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$17.3B
| – | – |
-340,000
| Closed | -$27.4M | – |
|
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Covalent Partners's Q3 2025 Portfolio in Review
As of Q3 2025, Covalent Partners held 19 positions worth $26.6M, down 36% from $41.6M the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Covalent Partners deployed $2.4M of net new capital in Q3 2025, opening 8 new positions and adding to 1 existing holding. Its largest new stake was UFP Industries: 18,500 shares worth $1.73M.
By sector, the portfolio is most concentrated in Miscellaneous at 47% of assets, down from 82% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was AMC Entertainment Holdings, an estimated $998K trimmed.
- Covalent Partners's largest Q3 2025 buy was UFP Industries: 18,500 shares worth $1.73M.
- Covalent Partners added most to Cinemark Holdings in Q3 2025, an estimated $276K increase.
- Covalent Partners's biggest Q3 2025 reduction was AMC Entertainment Holdings, cutting an estimated $998K.
- Covalent Partners's ten largest holdings make up 82% of its $26.6M portfolio in Q3 2025.
- Covalent Partners opened 8 new positions and closed 1 in Q3 2025.
- Covalent Partners's portfolio value fell 36% quarter-over-quarter to $26.6M.
Based on Covalent Partners's 13F filing for Q3 2025, filed 14 Nov 2025.