Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q2 2013 (Next →)

Filing Date: Aug 14, 2013

Total Value ($000): $285,753 (83.1% shares, 16.9% debt)

Holdings (29)

— D.R. HORTON INC 11.6%

Value ($000) $33,188 Shares 20,000,000 Est. Cost $1.66 Unrealized —

— PINNACLE ENTMT INC 7.1%

Value ($000) $20,262 Shares 1,030,082 Est. Cost $19.67 Unrealized —

C CITIGROUP INC 7.0%

Value ($000) $19,890 Shares 414,642 Est. Cost $35.76 Unrealized 0.0%

— SINCLAIR BROADCAST GROUP INC 6.2%

Value ($000) $17,670 Shares 601,645 Est. Cost $29.37 Unrealized —

DAN DANA HLDG CORP 6.1%

Value ($000) $17,382 Shares 902,488 Est. Cost $14.00 Unrealized 0.0%

— NCI BUILDING SYSTEMS INC 5.6%

Value ($000) $16,086 Shares 1,052,069 Est. Cost $15.29 Unrealized —

GM GENERAL MTRS CO 5.6%

Value ($000) $16,075 Shares 482,600 Est. Cost $23.62 Unrealized 0.0%

— AMERISTAR CASINOS INC 5.3%

Value ($000) $15,200 Shares 578,161 Est. Cost $26.29 Unrealized —

— WMS INDS INC 4.2%

Value ($000) $12,124 Shares 475,267 Est. Cost $25.51 Unrealized —

— INTERNATIONAL SPEEDWAY CORP 4.2%

Value ($000) $11,972 Shares 380,441 Est. Cost $31.47 Unrealized —

— NAVISTAR INTL CORP NEW 3.7%

Value ($000) $10,684 Shares 11,000,000 Est. Cost $0.97 Unrealized —

— STRATEGIC HOTELS & RESORTS 3.3%

Value ($000) $9,443 Shares 1,065,837 Est. Cost $8.86 Unrealized —

— CIT GROUP INC 3.1%

Value ($000) $8,967 Shares 192,300 Est. Cost $46.63 Unrealized —

BSBR BANCO SANTANDER BRASIL SA 3.1%

Value ($000) $8,916 Shares 1,433,410 Est. Cost $6.22 Unrealized —

F FORD MOTORS CO 2.8%

Value ($000) $8,075 Shares 522,000 Est. Cost $7.61 Unrealized 0.0%

MGM MGM RESORTS INTERNATIONAL 2.8%

Value ($000) $7,915 Shares 535,500 Est. Cost $13.35 Unrealized 0.0%

— U S AIRWAYS GROUP INC 2.5%

Value ($000) $7,057 Shares 429,800 Est. Cost $16.42 Unrealized —

GS GOLDMAN SACHS GROUP INC 2.2%

Value ($000) $6,322 Shares 41,800 Est. Cost $120.06 Unrealized 0.0%

EEM ISHARES TR 2.2%

Value ($000) $6,247 Shares 162,262 Est. Cost $38.50 Unrealized —

— SPEEDWAY MOTORSPORTS INC 2.1%

Value ($000) $6,001 Shares 344,902 Est. Cost $17.40 Unrealized —

AAPL APPLE INC 2.1%

Value ($000) $5,988 Shares 15,100 Est. Cost $13.16 Unrealized 0.0%

— MGM RESORTS INTERNATIONAL 1.6%

Value ($000) $4,478 Shares 4,000,000 Est. Cost $1.12 Unrealized —

— CUMULUS MEDIA INC 1.4%

Value ($000) $4,011 Shares 1,183,044 Est. Cost $3.39 Unrealized —

LGND LIGAND PHARMACEUTICALS 1.1%

Value ($000) $3,276 Shares 87,587 Est. Cost $17.99 Unrealized 0.0%

— XERIUM TECHNOLOGIES INC 0.9%

Value ($000) $2,621 Shares 257,461 Est. Cost $10.18 Unrealized —

— INTERNATIONAL GAME TECHNOLOG 0.9%

Value ($000) $2,515 Shares 150,500 Est. Cost $16.71 Unrealized —

SPY SPDR S&P 500 ETF TR 0.7%

Value ($000) $2,037 Shares 12,700 Est. Cost $160.39 Unrealized —

SRI STONERIDGE INC 0.4%

Value ($000) $1,125 Shares 96,687 Est. Cost $9.26 Unrealized 0.0%

XLI SELECT SECTOR SPDR TR 0.1%

Value ($000) $226 Shares 5,500 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	D.R. HORTON INC	20,000,000	$33,188	11.6%	$1.66	—	NOTE 2.000% 5/1	23331ABB4
—	PINNACLE ENTMT INC	1,030,082	$20,262	7.1%	$19.67	—	COM	723456109
C	CITIGROUP INC	414,642	$19,890	7.0%	$35.76	0.0%	COM	172967424
—	SINCLAIR BROADCAST GROUP INC	601,645	$17,670	6.2%	$29.37	—	CL A	829226109
DAN	DANA HLDG CORP	902,488	$17,382	6.1%	$14.00	0.0%	COM	235825205
—	NCI BUILDING SYSTEMS INC	1,052,069	$16,086	5.6%	$15.29	—	COM	628852204
GM	GENERAL MTRS CO	482,600	$16,075	5.6%	$23.62	0.0%	COM	37045V100
—	AMERISTAR CASINOS INC	578,161	$15,200	5.3%	$26.29	—	COM	03070Q101
—	WMS INDS INC	475,267	$12,124	4.2%	$25.51	—	COM	929297109
—	INTERNATIONAL SPEEDWAY CORP	380,441	$11,972	4.2%	$31.47	—	CL A	460335201
—	NAVISTAR INTL CORP NEW	11,000,000	$10,684	3.7%	$0.97	—	NOTE 3.000%10/1	63934EAL2
—	STRATEGIC HOTELS & RESORTS	1,065,837	$9,443	3.3%	$8.86	—	COM	86272T106
—	CIT GROUP INC	192,300	$8,967	3.1%	$46.63	—	COM NEW	125581801
BSBR	BANCO SANTANDER BRASIL SA	1,433,410	$8,916	3.1%	$6.22	—	ADS REP 1 UNIT	05967A107
F	FORD MOTORS CO	522,000	$8,075	2.8%	$7.61	0.0%	COM	345370860
MGM	MGM RESORTS INTERNATIONAL	535,500	$7,915	2.8%	$13.35	0.0%	COM	552953101
—	U S AIRWAYS GROUP INC	429,800	$7,057	2.5%	$16.42	—	COM	90341W108
GS	GOLDMAN SACHS GROUP INC	41,800	$6,322	2.2%	$120.06	0.0%	COM	38141G104
EEM	ISHARES TR	162,262	$6,247	2.2%	$38.50	—	MSCI EMERG MKT	464287234
—	SPEEDWAY MOTORSPORTS INC	344,902	$6,001	2.1%	$17.40	—	COM	847788106
AAPL	APPLE INC	15,100	$5,988	2.1%	$13.16	0.0%	COM	037833100
—	MGM RESORTS INTERNATIONAL	4,000,000	$4,478	1.6%	$1.12	—	NOTE 4.250% 4/1	55303QAE0
—	CUMULUS MEDIA INC	1,183,044	$4,011	1.4%	$3.39	—	CL A	231082108
LGND	LIGAND PHARMACEUTICALS	87,587	$3,276	1.1%	$17.99	0.0%	COM NEW	53220K504
—	XERIUM TECHNOLOGIES INC	257,461	$2,621	0.9%	$10.18	—	COM NEW	98416J118
—	INTERNATIONAL GAME TECHNOLOG	150,500	$2,515	0.9%	$16.71	—	COM	459902102
SPY	SPDR S&P 500 ETF TR	12,700	$2,037	0.7%	$160.39	—	TR UNIT	78462F103
SRI	STONERIDGE INC	96,687	$1,125	0.4%	$9.26	0.0%	COM	86183P102
XLI	SELECT SECTOR SPDR TR	5,500	$226	0.1%	—	—	Put	81369Y704