Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q4 2013 (← Previous) (Next →)

Filing Date: Feb 14, 2014

Total Value ($000): $301,610 (88.6% shares, 11.4% debt)

Holdings (26)

— D.R. HORTON INC 11.4%

Value ($000) $34,513 Shares 20,000,000 Est. Cost $1.66 Unrealized —

C CITIGROUP INC 8.1%

Value ($000) $24,317 Shares 466,642 Est. Cost $35.98 Unrealized +4.7%

DAN DANA HLDG CORP 7.4%

Value ($000) $22,259 Shares 1,134,488 Est. Cost $14.74 Unrealized +9.5%

— STRATEGIC HOTELS & RESORTS 6.4%

Value ($000) $19,173 Shares 2,028,837 Est. Cost $8.94 Unrealized —

— NCI BUILDING SYS INC 6.2%

Value ($000) $18,634 Shares 1,062,398 Est. Cost $14.27 Unrealized —

AAL AMERICAN AIRLS GROUP INC. 5.7%

Value ($000) $17,271 Shares 683,994 Est. Cost $21.78 Unrealized 0.0%

MGM MGM RESORTS INTERNATIONAL 5.7%

Value ($000) $17,064 Shares 725,500 Est. Cost $14.89 Unrealized +29.2%

— CIT GROUP INC 5.5%

Value ($000) $16,593 Shares 318,300 Est. Cost $48.30 Unrealized —

GLPI GAMING & LEISURE PPTYS INC 5.3%

Value ($000) $15,853 Shares 312,000 Est. Cost $50.81 Unrealized —

— SINCLAIR BROADCAST GROUP INC 5.2%

Value ($000) $15,685 Shares 438,994 Est. Cost $29.76 Unrealized —

GM GENERAL MTRS CO 4.7%

Value ($000) $14,125 Shares 345,600 Est. Cost $23.62 Unrealized +19.3%

BSBR BANCO SANTANDER BRASIL S A 3.8%

Value ($000) $11,327 Shares 1,856,910 Est. Cost $6.34 Unrealized —

— PINNACLE ENTMT INC 3.2%

Value ($000) $9,558 Shares 367,745 Est. Cost $19.67 Unrealized —

— NORCRAFT COS INC 3.1%

Value ($000) $9,320 Shares 475,000 Est. Cost $19.62 Unrealized —

BAC BANK OF AMERICA CORPORATION 2.7%

Value ($000) $8,249 Shares 529,777 Est. Cost $11.23 Unrealized +4.0%

AAPL APPLE INC 2.7%

Value ($000) $8,062 Shares 14,371 Est. Cost $13.16 Unrealized +24.4%

F FORD MTR CO DEL 2.7%

Value ($000) $8,054 Shares 522,000 Est. Cost $7.61 Unrealized +18.4%

GS GOLDMAN SACHS GROUP INC 2.5%

Value ($000) $7,409 Shares 41,800 Est. Cost $120.06 Unrealized +8.8%

— SPEEDWAY MOTORSPORTS INC 2.4%

Value ($000) $7,147 Shares 360,032 Est. Cost $17.50 Unrealized —

— CYS INVTS INC 1.9%

Value ($000) $5,692 Shares 768,152 Est. Cost $8.13 Unrealized —

— INTERNATIONAL SPEEDWAY CORP 1.8%

Value ($000) $5,469 Shares 154,278 Est. Cost $31.47 Unrealized —

SPY SPDR S&P 500 ETF TR 1.6%

Value ($000) $4,839 Shares 26,200 Est. Cost $172.92 Unrealized —

— INVESCO BD FD 0.2%

Value ($000) $640 Shares 36,199 Est. Cost $17.62 Unrealized —

MDY SPDR S&P MIDCAP 400 ETF TR 0.0%

Value ($000) $148 Shares 325,000 Est. Cost — Unrealized —

MCRI MONARCH CASINO & RESORT INC 0.0%

Value ($000) $131 Shares 6,500 Est. Cost $18.76 Unrealized 0.0%

— POWERSHARES QQQ TRUST 0.0%

Value ($000) $78 Shares 560,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	D.R. HORTON INC	20,000,000	$34,513	11.4%	$1.66	—	NOTE 2.000% 5/1	23331ABB4
C	CITIGROUP INC	466,642	$24,317	8.1%	$35.98	+4.7%	COM	172967424
DAN	DANA HLDG CORP	1,134,488	$22,259	7.4%	$14.74	+9.5%	COM	235825205
—	STRATEGIC HOTELS & RESORTS	2,028,837	$19,173	6.4%	$8.94	—	COM	86272T106
—	NCI BUILDING SYS INC	1,062,398	$18,634	6.2%	$14.27	—	COM NEW	628852204
AAL	AMERICAN AIRLS GROUP INC.	683,994	$17,271	5.7%	$21.78	0.0%	COM	02376R102
MGM	MGM RESORTS INTERNATIONAL	725,500	$17,064	5.7%	$14.89	+29.2%	COM	552953101
—	CIT GROUP INC	318,300	$16,593	5.5%	$48.30	—	COM NEW	125581801
GLPI	GAMING & LEISURE PPTYS INC	312,000	$15,853	5.3%	$50.81	—	COM	36467J108
—	SINCLAIR BROADCAST GROUP INC	438,994	$15,685	5.2%	$29.76	—	CL A	829226109
GM	GENERAL MTRS CO	345,600	$14,125	4.7%	$23.62	+19.3%	COM	37045V100
BSBR	BANCO SANTANDER BRASIL S A	1,856,910	$11,327	3.8%	$6.34	—	ADS REP 1 UNIT	05967A107
—	PINNACLE ENTMT INC	367,745	$9,558	3.2%	$19.67	—	COM	723456109
—	NORCRAFT COS INC	475,000	$9,320	3.1%	$19.62	—	COM	65557Y105
BAC	BANK OF AMERICA CORPORATION	529,777	$8,249	2.7%	$11.23	+4.0%	COM	060505104
AAPL	APPLE INC	14,371	$8,062	2.7%	$13.16	+24.4%	COM	037833100
F	FORD MTR CO DEL	522,000	$8,054	2.7%	$7.61	+18.4%	COM PAR $0.01	345370860
GS	GOLDMAN SACHS GROUP INC	41,800	$7,409	2.5%	$120.06	+8.8%	COM	38141G104
—	SPEEDWAY MOTORSPORTS INC	360,032	$7,147	2.4%	$17.50	—	COM	847788106
—	CYS INVTS INC	768,152	$5,692	1.9%	$8.13	—	COM	12673A108
—	INTERNATIONAL SPEEDWAY CORP	154,278	$5,469	1.8%	$31.47	—	CL A	460335201
SPY	SPDR S&P 500 ETF TR	26,200	$4,839	1.6%	$172.92	—	TR UNIT	78462F103
—	INVESCO BD FD	36,199	$640	0.2%	$17.62	—	COM	46132L107
MDY	SPDR S&P MIDCAP 400 ETF TR	325,000	$148	0.0%	—	—	Put	78467Y107
MCRI	MONARCH CASINO & RESORT INC	6,500	$131	0.0%	$18.76	0.0%	COM	609027107
—	POWERSHARES QQQ TRUST	560,000	$78	0.0%	—	—	Put	73935A104