Filed: 11/14/2025ACC: 0001531611-25-000005
📋 What this filing means
COVALENT PARTNERS LLC filed this quarterly 13F‑HR report disclosing 18 equity positions with a total reported market value of $26.55M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
18
Positions
$26.55M
Total AUM (reported)
3.83M
Total Shares
Allocation by class
COM$12.66M47.7%
RUSSELL 2000 ETF$6.05M22.8%
NOTE 1.750%12/0$2.43M9.2%
PFD C CV 5.75%$1.40M5.3%
COM STOCK$1.01M3.8%
NOTE 2.750% 5/0$983.5K3.7%
NOTE 3.500%12/0$945.0K3.6%
Portfolio Concentration
Top 3$11.08M41.7%
4–10$10.74M40.5%
11–25$4.73M17.8%
Top 3 weight
41.7%
Top 10 weight
82.2%
Voting Authority Distribution
Total shares with voting rights: 3.83M
Sole
Full voting authority
3.81M
shares
% of voting shares99.3%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
25K
shares
% of voting shares0.7%
Investment Discretion (by position count)
Sole18
Shared0
Other0
Dominant voting typeSole · 99.3% of voting shares
Institutional Holdings18
Rows:
ISHARES TR
SOLEShares25K
TypeSH
Market value$6.05M
22.78%
Sole
0.00
Shared
0.00
None
25K
MARCUS CORP DEL
SOLEShares167K
TypeSH
Market value$2.59M
9.76%
Sole
167K
Shared
0.00
None
0.00
CINEMARK HLDGS INC
SOLEShares87K
TypeSH
Market value$2.44M
9.18%
Sole
87K
Shared
0.00
None
0.00
PATRICK INDS INC
SOLEShares1.50M
TypePRN
Market value$2.43M
9.16%
Sole
1.50M
Shared
0.00
None
0.00
UFP INDUSTRIES INC
SOLEShares18.50K
TypeSH
Market value$1.73M
6.51%
Sole
18.50K
Shared
0.00
None
0.00
GIBRALTAR INDS INC
SOLEShares27K
TypeSH
Market value$1.70M
6.39%
Sole
27K
Shared
0.00
None
0.00
PENN ENTERTAINMENT INC
SOLEShares75K
TypeSH
Market value$1.44M
5.44%
Sole
75K
Shared
0.00
None
0.00
EPR PPTYS
SOLEShares55K
TypeSH
Market value$1.40M
5.27%
Sole
55K
Shared
0.00
None
0.00
GREENE CNTY BANCORP INC
SOLEShares45.67K
TypeSH
Market value$1.03M
3.89%
Sole
45.67K
Shared
0.00
None
0.00
CALIFORNIA RES CORP
SOLEShares18.97K
TypeSH
Market value$1.01M
3.80%
Sole
18.97K
Shared
0.00
None
0.00
TOPGOLF CALLAWAY BRANDS CORP
SOLEShares1M
TypePRN
Market value$983.5K
3.70%
Sole
1M
Shared
0.00
None
0.00
SPHERE ENTERTAINMENT CO
SOLEShares500K
TypePRN
Market value$945.0K
3.56%
Sole
500K
Shared
0.00
None
0.00
CAESARS ENTERTAINMENT INC NE
SOLEShares25K
TypeSH
Market value$675.6K
2.54%
Sole
25K
Shared
0.00
None
0.00
EPR PPTYS
SOLEShares20K
TypeSH
Market value$631.2K
2.38%
Sole
20K
Shared
0.00
None
0.00
SR BANCORP INC
SOLEShares40.26K
TypeSH
Market value$607.5K
2.29%
Sole
40.26K
Shared
0.00
None
0.00
REGENERON PHARMACEUTICALS
SOLEShares800.00
TypeSH
Market value$449.8K
1.69%
Sole
800.00
Shared
0.00
None
0.00
AMC ENTMT HLDGS INC
SOLEShares150K
TypeSH
Market value$435.0K
1.64%
Sole
150K
Shared
0.00
None
0.00
ECARX HOLDINGS INC
SOLEShares75K
TypeSH
Market value$4.5K
0.02%
Sole
75K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
ISHARES TRSOLE | RUSSELL 2000 ETF | 25K | SH | $6.05M 22.78% | 0.00 | 0.00 | 25K |
MARCUS CORP DELSOLE | COM | 167K | SH | $2.59M 9.76% | 167K | 0.00 | 0.00 |
CINEMARK HLDGS INCSOLE | COM | 87K | SH | $2.44M 9.18% | 87K | 0.00 | 0.00 |
PATRICK INDS INCSOLE | NOTE 1.750%12/0 | 1.50M | PRN | $2.43M 9.16% | 1.50M | 0.00 | 0.00 |
UFP INDUSTRIES INCSOLE | COM | 18.50K | SH | $1.73M 6.51% | 18.50K | 0.00 | 0.00 |
GIBRALTAR INDS INCSOLE | COM | 27K | SH | $1.70M 6.39% | 27K | 0.00 | 0.00 |
PENN ENTERTAINMENT INCSOLE | COM | 75K | SH | $1.44M 5.44% | 75K | 0.00 | 0.00 |
EPR PPTYSSOLE | PFD C CV 5.75% | 55K | SH | $1.40M 5.27% | 55K | 0.00 | 0.00 |
GREENE CNTY BANCORP INCSOLE | COM | 45.67K | SH | $1.03M 3.89% | 45.67K | 0.00 | 0.00 |
CALIFORNIA RES CORPSOLE | COM STOCK | 18.97K | SH | $1.01M 3.80% | 18.97K | 0.00 | 0.00 |
TOPGOLF CALLAWAY BRANDS CORPSOLE | NOTE 2.750% 5/0 | 1M | PRN | $983.5K 3.70% | 1M | 0.00 | 0.00 |
SPHERE ENTERTAINMENT COSOLE | NOTE 3.500%12/0 | 500K | PRN | $945.0K 3.56% | 500K | 0.00 | 0.00 |
CAESARS ENTERTAINMENT INC NESOLE | COM | 25K | SH | $675.6K 2.54% | 25K | 0.00 | 0.00 |
EPR PPTYSSOLE | CONV PFD 9% SR E | 20K | SH | $631.2K 2.38% | 20K | 0.00 | 0.00 |
SR BANCORP INCSOLE | COM | 40.26K | SH | $607.5K 2.29% | 40.26K | 0.00 | 0.00 |
REGENERON PHARMACEUTICALSSOLE | COM | 800.00 | SH | $449.8K 1.69% | 800.00 | 0.00 | 0.00 |
AMC ENTMT HLDGS INCSOLE | CL A NEW | 150K | SH | $435.0K 1.64% | 150K | 0.00 | 0.00 |
ECARX HOLDINGS INCSOLE | *W EXP 99/99/999 | 75K | SH | $4.5K 0.02% | 75K | 0.00 | 0.00 |