Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q3 2014 (← Previous) (Next →)

Filing Date: Nov 14, 2014

Total Value ($000): $416,947 (98.2% shares, 1.8% debt)

Holdings (32)

C CITIGROUP INC 9.2%

Value ($000) $38,546 Shares 743,842 Est. Cost $36.21 Unrealized +3.4%

GM GENERAL MTRS CO 8.8%

Value ($000) $36,552 Shares 1,144,411 Est. Cost $25.69 Unrealized +3.1%

MGM MGM RESORTS INTERNATIONAL 7.8%

Value ($000) $32,496 Shares 1,426,500 Est. Cost $19.19 Unrealized +22.5%

DAN DANA HLDG CORP 7.5%

Value ($000) $31,086 Shares 1,621,616 Est. Cost $16.35 Unrealized +11.1%

PHM PULTE GROUP INC 7.1%

Value ($000) $29,408 Shares 1,665,257 Est. Cost $16.65 Unrealized -2.1%

GLPI GAMING & LEISURE PPTYS INC 6.7%

Value ($000) $27,849 Shares 901,273 Est. Cost $40.14 Unrealized —

— NORCRAFT COS INC 4.7%

Value ($000) $19,775 Shares 1,239,788 Est. Cost $17.52 Unrealized —

— RYLAND GROUP INC 4.2%

Value ($000) $17,617 Shares 529,992 Est. Cost $36.42 Unrealized —

— INTERNATIONAL SPEEDWAY CORP 3.9%

Value ($000) $16,283 Shares 514,648 Est. Cost $33.03 Unrealized —

— STRATEGIC HOTELS & RESORTS 3.8%

Value ($000) $15,707 Shares 1,348,271 Est. Cost $8.94 Unrealized —

— SINCLAIR BROADCAST GROUP INC 3.5%

Value ($000) $14,665 Shares 562,083 Est. Cost $29.44 Unrealized —

— NCI BUILDING SYS INC 3.5%

Value ($000) $14,554 Shares 750,202 Est. Cost $16.48 Unrealized —

AAL AMERICAN AIRLS GROUP INC. 3.1%

Value ($000) $13,117 Shares 369,701 Est. Cost $32.64 Unrealized +13.8%

— NEW HOME CO INC 2.7%

Value ($000) $11,154 Shares 826,195 Est. Cost $14.20 Unrealized —

GS GOLDMAN SACHS GROUP INC 2.4%

Value ($000) $10,084 Shares 54,930 Est. Cost $122.22 Unrealized +15.0%

F FORD MTR CO DEL 2.0%

Value ($000) $8,484 Shares 573,654 Est. Cost $7.68 Unrealized +22.1%

LPX LOUISIANA PAC CORP 1.9%

Value ($000) $7,952 Shares 585,161 Est. Cost $15.23 Unrealized -7.1%

— CYS INVTS INC 1.9%

Value ($000) $7,745 Shares 939,899 Est. Cost $8.16 Unrealized —

— AXIALL CORP 1.9%

Value ($000) $7,735 Shares 215,988 Est. Cost $35.81 Unrealized —

— ICONIX BRAND GROUP INC 1.8%

Value ($000) $7,650 Shares 6,000,000 Est. Cost $1.27 Unrealized —

GTN GRAY TELEVISION INC 1.7%

Value ($000) $7,128 Shares 904,535 Est. Cost $11.10 Unrealized -1.4%

— SPEEDWAY MOTORSPORTS INC 1.6%

Value ($000) $6,869 Shares 402,652 Est. Cost $17.64 Unrealized —

MHO M/I HOMES INC 1.5%

Value ($000) $6,390 Shares 322,404 Est. Cost $23.06 Unrealized -5.5%

BYD BOYD GAMING CORP 1.4%

Value ($000) $5,930 Shares 583,625 Est. Cost $10.85 Unrealized -6.4%

NXST NEXSTAR BROADCASTING GROUP I 1.3%

Value ($000) $5,412 Shares 133,902 Est. Cost $32.60 Unrealized +6.9%

MCRI MONARCH CASINO & RESORT INC 1.1%

Value ($000) $4,785 Shares 401,756 Est. Cost $16.85 Unrealized -21.6%

SPY SPDR S&P 500 ETF TR 1.0%

Value ($000) $4,253 Shares 2,900,000 Est. Cost — Unrealized —

LNWO SCIENTIFIC GAMES CORP 0.8%

Value ($000) $3,433 Shares 318,800 Est. Cost $10.22 Unrealized 0.0%

— PINNACLE ENTMT INC 0.4%

Value ($000) $1,763 Shares 70,250 Est. Cost $25.10 Unrealized —

— WALTER ENERGY INC 0.3%

Value ($000) $1,304 Shares 557,330 Est. Cost $5.17 Unrealized —

— MULTIMEDIA GAMES HLDG CO INC 0.3%

Value ($000) $1,089 Shares 30,235 Est. Cost $36.02 Unrealized —

IWM ISHARES 0.0%

Value ($000) $132 Shares 660,000 Est. Cost $118.83 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
C	CITIGROUP INC	743,842	$38,546	9.2%	$36.21	+3.4%	COM	172967424
GM	GENERAL MTRS CO	1,144,411	$36,552	8.8%	$25.69	+3.1%	COM	37045V100
MGM	MGM RESORTS INTERNATIONAL	1,426,500	$32,496	7.8%	$19.19	+22.5%	COM	552953101
DAN	DANA HLDG CORP	1,621,616	$31,086	7.5%	$16.35	+11.1%	COM	235825205
PHM	PULTE GROUP INC	1,665,257	$29,408	7.1%	$16.65	-2.1%	COM	745867101
GLPI	GAMING & LEISURE PPTYS INC	901,273	$27,849	6.7%	$40.14	—	COM	36467J108
—	NORCRAFT COS INC	1,239,788	$19,775	4.7%	$17.52	—	COM	65557Y105
—	RYLAND GROUP INC	529,992	$17,617	4.2%	$36.42	—	COM	783764103
—	INTERNATIONAL SPEEDWAY CORP	514,648	$16,283	3.9%	$33.03	—	CL A	460335201
—	STRATEGIC HOTELS & RESORTS	1,348,271	$15,707	3.8%	$8.94	—	COM	86272T106
—	SINCLAIR BROADCAST GROUP INC	562,083	$14,665	3.5%	$29.44	—	CL A	829226109
—	NCI BUILDING SYS INC	750,202	$14,554	3.5%	$16.48	—	COM NEW	628852204
AAL	AMERICAN AIRLS GROUP INC.	369,701	$13,117	3.1%	$32.64	+13.8%	COM	02376R102
—	NEW HOME CO INC	826,195	$11,154	2.7%	$14.20	—	COM	645370107
GS	GOLDMAN SACHS GROUP INC	54,930	$10,084	2.4%	$122.22	+15.0%	COM	38141G104
F	FORD MTR CO DEL	573,654	$8,484	2.0%	$7.68	+22.1%	COM PAR $0.01	345370860
LPX	LOUISIANA PAC CORP	585,161	$7,952	1.9%	$15.23	-7.1%	COM	546347105
—	CYS INVTS INC	939,899	$7,745	1.9%	$8.16	—	COM	12673A108
—	AXIALL CORP	215,988	$7,735	1.9%	$35.81	—	COM	05463D100
—	ICONIX BRAND GROUP INC	6,000,000	$7,650	1.8%	$1.27	—	NOTE 1.500% 3/1	451055AF4
GTN	GRAY TELEVISION INC	904,535	$7,128	1.7%	$11.10	-1.4%	COM	389375106
—	SPEEDWAY MOTORSPORTS INC	402,652	$6,869	1.6%	$17.64	—	COM	847788106
MHO	M/I HOMES INC	322,404	$6,390	1.5%	$23.06	-5.5%	COM	55305B101
BYD	BOYD GAMING CORP	583,625	$5,930	1.4%	$10.85	-6.4%	COM	103304101
NXST	NEXSTAR BROADCASTING GROUP I	133,902	$5,412	1.3%	$32.60	+6.9%	CL A	65336K103
MCRI	MONARCH CASINO & RESORT INC	401,756	$4,785	1.1%	$16.85	-21.6%	COM	609027107
SPY	SPDR S&P 500 ETF TR	2,900,000	$4,253	1.0%	—	—	Put	78462F103
LNWO	SCIENTIFIC GAMES CORP	318,800	$3,433	0.8%	$10.22	0.0%	CL A	80874P109
—	PINNACLE ENTMT INC	70,250	$1,763	0.4%	$25.10	—	COM	723456109
—	WALTER ENERGY INC	557,330	$1,304	0.3%	$5.17	—	COM	93317Q105
—	MULTIMEDIA GAMES HLDG CO INC	30,235	$1,089	0.3%	$36.02	—	COM	625453105
IWM	ISHARES	660,000	$132	0.0%	$118.83	—	Call	464287655