Filed: 2/14/2023ACC: 0001531611-23-000001
📋 What this filing means
COVALENT PARTNERS LLC filed this quarterly 13F‑HR report disclosing 32 equity positions with a total reported market value of $88.47M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
32
Positions
$88.47M
Total AUM (reported)
11.07M
Total Shares
Allocation by class
TR UNIT$35.18M39.8%
RUSSELL 2000 ETF$21.97M24.8%
SHS GOLD$5.68M6.4%
NOTE 4.500% 4/1$5.10M5.8%
UNIT SER 1$4.66M5.3%
NOTE 5.375% 8/0$4.03M4.6%
COM NEW$2.83M3.2%
Portfolio Concentration
Top 3$62.84M71.0%
4–10$21.39M24.2%
11–25$4.23M4.8%
Rest$9.9K0.0%
Top 3 weight
71.0%
Top 10 weight
95.2%
Voting Authority Distribution
Total shares with voting rights: 11.07M
Sole
Full voting authority
10.81M
shares
% of voting shares97.6%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
263K
shares
% of voting shares2.4%
Investment Discretion (by position count)
Sole32
Shared0
Other0
Dominant voting typeSole · 97.6% of voting shares
Institutional Holdings32
Rows:
SPDR S&P 500 ETF TR
SOLEShares92K
TypeSH
Market value$35.18M
39.77%
Sole
0.00
Shared
0.00
None
92K
ISHARES TR
SOLEShares126K
TypeSH
Market value$21.97M
24.83%
Sole
6K
Shared
0.00
None
120K
SPDR GOLD TR
SOLEShares33.50K
TypeSH
Market value$5.68M
6.42%
Sole
0.00
Shared
0.00
None
33.50K
COPA HOLDINGS SA
SOLEShares3M
TypePRN
Market value$5.10M
5.77%
Sole
3M
Shared
0.00
None
0.00
INVESCO QQQ TR
SOLEShares17.50K
TypeSH
Market value$4.66M
5.27%
Sole
0.00
Shared
0.00
None
17.50K
NCL CORP LTD
SOLEShares4M
TypePRN
Market value$4.03M
4.56%
Sole
4M
Shared
0.00
None
0.00
SOUTHWEST AIRLS CO
SOLEShares2M
TypePRN
Market value$2.40M
2.72%
Sole
2M
Shared
0.00
None
0.00
DELTA AIR LINES INC DEL
SOLEShares62.50K
TypeSH
Market value$2.05M
2.32%
Sole
62.50K
Shared
0.00
None
0.00
CHURCHILL CAPITAL CORP VI
SOLEShares200K
TypeSH
Market value$2.00M
2.26%
Sole
200K
Shared
0.00
None
0.00
TRANSOCEAN LTD
SOLEShares250K
TypeSH
Market value$1.14M
1.29%
Sole
250K
Shared
0.00
None
0.00
PERMIAN RESOURCES CORP
SOLEShares100K
TypeSH
Market value$940.0K
1.06%
Sole
100K
Shared
0.00
None
0.00
CALIFORNIA RES CORP
SOLEShares18.97K
TypeSH
Market value$825.6K
0.93%
Sole
18.97K
Shared
0.00
None
0.00
SOUTHWEST AIRLS CO
SOLEShares20K
TypeSH
Market value$673.4K
0.76%
Sole
20K
Shared
0.00
None
0.00
PRO-DEX INC COLO
SOLEShares25K
TypeSH
Market value$397.5K
0.45%
Sole
25K
Shared
0.00
None
0.00
GOOD TIMES RESTAURANTS INC
SOLEShares169.16K
TypeSH
Market value$378.9K
0.43%
Sole
169.16K
Shared
0.00
None
0.00
BAUSCH HEALTH COS INC
SOLEShares60K
TypeSH
Market value$376.8K
0.43%
Sole
60K
Shared
0.00
None
0.00
ROIVANT SCIENCES LTD
SOLEShares100K
TypeSH
Market value$194.0K
0.22%
Sole
100K
Shared
0.00
None
0.00
BAUSCH PLUS LOMB CORP
SOLEShares12.20K
TypeSH
Market value$189.2K
0.21%
Sole
12.20K
Shared
0.00
None
0.00
NOBLE CORP PLC
SOLEShares4.47K
TypeSH
Market value$168.8K
0.19%
Sole
4.47K
Shared
0.00
None
0.00
VERTICAL AEROSPACE LTD
SOLEShares164.10K
TypeSH
Market value$51.6K
0.06%
Sole
164.10K
Shared
0.00
None
0.00
TH INTERNATIONAL LIMITED
SOLEShares110K
TypeSH
Market value$13.2K
0.01%
Sole
110K
Shared
0.00
None
0.00
FAZE HOLDINGS INC
SOLEShares65K
TypeSH
Market value$8.2K
<0.01%
Sole
65K
Shared
0.00
None
0.00
ECARX HOLDINGS INC
SOLEShares75K
TypeSH
Market value$7.4K
<0.01%
Sole
75K
Shared
0.00
None
0.00
CIPHER MINING INC
SOLEShares100K
TypeSH
Market value$6.0K
<0.01%
Sole
100K
Shared
0.00
None
0.00
EVO ACQUISITION CORP
SOLEShares50K
TypeSH
Market value$2.8K
<0.01%
Sole
50K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
SPDR S&P 500 ETF TRSOLE | TR UNIT | 92K | SH | $35.18M 39.77% | 0.00 | 0.00 | 92K |
ISHARES TRSOLE | RUSSELL 2000 ETF | 126K | SH | $21.97M 24.83% | 6K | 0.00 | 120K |
SPDR GOLD TRSOLE | SHS GOLD | 33.50K | SH | $5.68M 6.42% | 0.00 | 0.00 | 33.50K |
COPA HOLDINGS SASOLE | NOTE 4.500% 4/1 | 3M | PRN | $5.10M 5.77% | 3M | 0.00 | 0.00 |
INVESCO QQQ TRSOLE | UNIT SER 1 | 17.50K | SH | $4.66M 5.27% | 0.00 | 0.00 | 17.50K |
NCL CORP LTDSOLE | NOTE 5.375% 8/0 | 4M | PRN | $4.03M 4.56% | 4M | 0.00 | 0.00 |
SOUTHWEST AIRLS COSOLE | NOTE 1.250% 5/0 | 2M | PRN | $2.40M 2.72% | 2M | 0.00 | 0.00 |
DELTA AIR LINES INC DELSOLE | COM NEW | 62.50K | SH | $2.05M 2.32% | 62.50K | 0.00 | 0.00 |
CHURCHILL CAPITAL CORP VISOLE | COM CL A | 200K | SH | $2.00M 2.26% | 200K | 0.00 | 0.00 |
TRANSOCEAN LTDSOLE | REG SHS | 250K | SH | $1.14M 1.29% | 250K | 0.00 | 0.00 |
PERMIAN RESOURCES CORPSOLE | CLASS A COM | 100K | SH | $940.0K 1.06% | 100K | 0.00 | 0.00 |
CALIFORNIA RES CORPSOLE | COM STOCK | 18.97K | SH | $825.6K 0.93% | 18.97K | 0.00 | 0.00 |
SOUTHWEST AIRLS COSOLE | COM | 20K | SH | $673.4K 0.76% | 20K | 0.00 | 0.00 |
PRO-DEX INC COLOSOLE | COM NEW | 25K | SH | $397.5K 0.45% | 25K | 0.00 | 0.00 |
GOOD TIMES RESTAURANTS INCSOLE | COM NEW | 169.16K | SH | $378.9K 0.43% | 169.16K | 0.00 | 0.00 |
BAUSCH HEALTH COS INCSOLE | COM | 60K | SH | $376.8K 0.43% | 60K | 0.00 | 0.00 |
ROIVANT SCIENCES LTDSOLE | *W EXP 09/30/202 | 100K | SH | $194.0K 0.22% | 100K | 0.00 | 0.00 |
BAUSCH PLUS LOMB CORPSOLE | COMMON SHARES | 12.20K | SH | $189.2K 0.21% | 12.20K | 0.00 | 0.00 |
NOBLE CORP PLCSOLE | ORD SHS A | 4.47K | SH | $168.8K 0.19% | 4.47K | 0.00 | 0.00 |
VERTICAL AEROSPACE LTDSOLE | *W EXP 09/15/202 | 164.10K | SH | $51.6K 0.06% | 164.10K | 0.00 | 0.00 |
TH INTERNATIONAL LIMITEDSOLE | *W EXP 09/28/202 | 110K | SH | $13.2K 0.01% | 110K | 0.00 | 0.00 |
FAZE HOLDINGS INCSOLE | *W EXP 03/01/202 | 65K | SH | $8.2K <0.01% | 65K | 0.00 | 0.00 |
ECARX HOLDINGS INCSOLE | *W EXP 12/20/202 ADDED | 75K | SH | $7.4K <0.01% | 75K | 0.00 | 0.00 |
CIPHER MINING INCSOLE | *W EXP 10/22/202 | 100K | SH | $6.0K <0.01% | 100K | 0.00 | 0.00 |
EVO ACQUISITION CORPSOLE | *W EXP 01/04/202 | 50K | SH | $2.8K <0.01% | 50K | 0.00 | 0.00 |
Page 1 of 2