Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q3 2013 (← Previous) (Next →)

Filing Date: Nov 14, 2013

Total Value ($000): $287,769 (89.4% shares, 10.6% debt)

Holdings (28)

— D.R. HORTON INC 10.6%

Value ($000) $30,400 Shares 20,000,000 Est. Cost $1.66 Unrealized —

— NCI BUILDING SYSTEMS INC 7.7%

Value ($000) $22,291 Shares 1,749,699 Est. Cost $14.27 Unrealized —

— SINCLAIR BROADCAST GROUP INC 7.7%

Value ($000) $22,282 Shares 664,750 Est. Cost $29.76 Unrealized —

C CITIGROUP INC 7.0%

Value ($000) $20,114 Shares 414,642 Est. Cost $35.76 Unrealized +5.2%

— PINNACLE ENTMT INC 6.2%

Value ($000) $17,817 Shares 711,245 Est. Cost $19.67 Unrealized —

GM GENERAL MTRS CO 6.0%

Value ($000) $17,359 Shares 482,600 Est. Cost $23.62 Unrealized +13.2%

DAN DANA HLDG CORP 5.9%

Value ($000) $17,004 Shares 744,488 Est. Cost $14.00 Unrealized +22.7%

— STRATEGIC HOTELS & RESORTS 4.8%

Value ($000) $13,748 Shares 1,583,837 Est. Cost $8.80 Unrealized —

— WMS INDS INC 4.3%

Value ($000) $12,333 Shares 475,267 Est. Cost $25.51 Unrealized —

BSBR BANCO SANTANDER BRASIL SA 4.2%

Value ($000) $12,141 Shares 1,746,910 Est. Cost $6.35 Unrealized —

— U S AIRWAYS GROUP INC 4.1%

Value ($000) $11,802 Shares 622,492 Est. Cost $17.21 Unrealized —

— CIT GROUP INC 4.1%

Value ($000) $11,719 Shares 240,300 Est. Cost $47.06 Unrealized —

MGM MGM RESORTS INTERNATIONAL 3.8%

Value ($000) $10,946 Shares 535,500 Est. Cost $13.35 Unrealized +23.2%

F FORD MOTORS CO 3.1%

Value ($000) $8,806 Shares 522,000 Est. Cost $7.61 Unrealized +18.6%

PENN PENN NATL GAMING INC 2.7%

Value ($000) $7,750 Shares 140,000 Est. Cost $12.05 Unrealized 0.0%

BAC BANK OF AMERICA 2.5%

Value ($000) $7,311 Shares 529,777 Est. Cost $11.23 Unrealized 0.0%

AAPL APPLE INC 2.5%

Value ($000) $7,199 Shares 15,100 Est. Cost $13.16 Unrealized +8.5%

GS GOLDMAN SACHS GROUP INC 2.3%

Value ($000) $6,613 Shares 41,800 Est. Cost $120.06 Unrealized +5.9%

EEM ISHARES TR 2.3%

Value ($000) $6,613 Shares 162,262 Est. Cost $38.50 Unrealized —

— CYS INVTS 2.2%

Value ($000) $6,245 Shares 768,152 Est. Cost $8.13 Unrealized —

— SPEEDWAY MOTORSPORTS INC 2.1%

Value ($000) $6,174 Shares 344,902 Est. Cost $17.40 Unrealized —

— INTERNATIONAL SPEEDWAY CORP 1.7%

Value ($000) $4,975 Shares 154,278 Est. Cost $31.47 Unrealized —

— INTERNATIONAL GAME TECHNOLOG 1.0%

Value ($000) $2,849 Shares 150,500 Est. Cost $16.71 Unrealized —

SPY SPDR S&P 500 ETF TR 0.7%

Value ($000) $2,134 Shares 12,700 Est. Cost $160.39 Unrealized —

IWM ISHARES TR 0.1%

Value ($000) $365 Shares 5,000 Est. Cost — Unrealized —

— INVESCO BD FD 0.1%

Value ($000) $278 Shares 15,844 Est. Cost $17.55 Unrealized —

SPY SPDR S&P 500 ETF TR 0.1%

Value ($000) $273 Shares 3,000 Est. Cost $160.39 Unrealized —

XLI SELECT SECTOR SPDR TR 0.1%

Value ($000) $228 Shares 4,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	D.R. HORTON INC	20,000,000	$30,400	10.6%	$1.66	—	NOTE 2.000% 5/1	23331ABB4
—	NCI BUILDING SYSTEMS INC	1,749,699	$22,291	7.7%	$14.27	—	COM	628852204
—	SINCLAIR BROADCAST GROUP INC	664,750	$22,282	7.7%	$29.76	—	CL A	829226109
C	CITIGROUP INC	414,642	$20,114	7.0%	$35.76	+5.2%	COM	172967424
—	PINNACLE ENTMT INC	711,245	$17,817	6.2%	$19.67	—	COM	723456109
GM	GENERAL MTRS CO	482,600	$17,359	6.0%	$23.62	+13.2%	COM	37045V100
DAN	DANA HLDG CORP	744,488	$17,004	5.9%	$14.00	+22.7%	COM	235825205
—	STRATEGIC HOTELS & RESORTS	1,583,837	$13,748	4.8%	$8.80	—	COM	86272T106
—	WMS INDS INC	475,267	$12,333	4.3%	$25.51	—	COM	929297109
BSBR	BANCO SANTANDER BRASIL SA	1,746,910	$12,141	4.2%	$6.35	—	ADS REP 1 UNIT	05967A107
—	U S AIRWAYS GROUP INC	622,492	$11,802	4.1%	$17.21	—	COM	90341W108
—	CIT GROUP INC	240,300	$11,719	4.1%	$47.06	—	COM NEW	125581801
MGM	MGM RESORTS INTERNATIONAL	535,500	$10,946	3.8%	$13.35	+23.2%	COM	552953101
F	FORD MOTORS CO	522,000	$8,806	3.1%	$7.61	+18.6%	COM	345370860
PENN	PENN NATL GAMING INC	140,000	$7,750	2.7%	$12.05	0.0%	COM	707569109
BAC	BANK OF AMERICA	529,777	$7,311	2.5%	$11.23	0.0%	COM	060505104
AAPL	APPLE INC	15,100	$7,199	2.5%	$13.16	+8.5%	COM	037833100
GS	GOLDMAN SACHS GROUP INC	41,800	$6,613	2.3%	$120.06	+5.9%	COM	38141G104
EEM	ISHARES TR	162,262	$6,613	2.3%	$38.50	—	MSCI EMG MKT ETF	464287234
—	CYS INVTS	768,152	$6,245	2.2%	$8.13	—	COM	12673A108
—	SPEEDWAY MOTORSPORTS INC	344,902	$6,174	2.1%	$17.40	—	COM	847788106
—	INTERNATIONAL SPEEDWAY CORP	154,278	$4,975	1.7%	$31.47	—	CL A	460335201
—	INTERNATIONAL GAME TECHNOLOG	150,500	$2,849	1.0%	$16.71	—	COM	459902102
SPY	SPDR S&P 500 ETF TR	12,700	$2,134	0.7%	$160.39	—	TR UNIT	78462F103
IWM	ISHARES TR	5,000	$365	0.1%	—	—	Put	464287655
—	INVESCO BD FD	15,844	$278	0.1%	$17.55	—	COM	46132L107
SPY	SPDR S&P 500 ETF TR	3,000	$273	0.1%	$160.39	—	Call	78462F103
XLI	SELECT SECTOR SPDR TR	4,000	$228	0.1%	—	—	Put	81369Y704