Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q4 2014 (← Previous) (Next →)

Filing Date: Feb 13, 2015

Total Value ($000): $440,882 (98.4% shares, 1.6% debt)

Holdings (29)

GM GENERAL MTRS CO 9.6%

Value ($000) $42,462 Shares 1,216,342 Est. Cost $25.62 Unrealized -4.4%

MGM MGM RESORTS INTERNATIONAL 9.5%

Value ($000) $41,817 Shares 1,955,902 Est. Cost $19.55 Unrealized +4.9%

PHM PULTE GROUP INC 8.2%

Value ($000) $36,056 Shares 1,680,152 Est. Cost $16.65 Unrealized +4.0%

C CITIGROUP INC 7.7%

Value ($000) $33,846 Shares 625,497 Est. Cost $36.21 Unrealized +9.2%

DAN DANA HLDG CORP 6.8%

Value ($000) $30,134 Shares 1,386,087 Est. Cost $16.35 Unrealized -0.8%

— RYLAND GROUP INC 5.5%

Value ($000) $24,219 Shares 628,087 Est. Cost $36.76 Unrealized —

GLPI GAMING & LEISURE PPTYS INC 5.4%

Value ($000) $23,685 Shares 807,259 Est. Cost $40.14 Unrealized —

— NORCRAFT COS INC 4.8%

Value ($000) $21,340 Shares 1,105,724 Est. Cost $17.52 Unrealized —

AAL AMERICAN AIRLS GROUP INC. 4.3%

Value ($000) $19,128 Shares 356,660 Est. Cost $32.64 Unrealized +25.0%

PENN PENN NATL GAMING INC 4.0%

Value ($000) $17,596 Shares 1,281,540 Est. Cost $12.95 Unrealized 0.0%

TMHC TAYLOR MORRISON HOME CORP 3.7%

Value ($000) $16,473 Shares 872,044 Est. Cost $17.85 Unrealized 0.0%

— INTERNATIONAL SPEEDWAY CORP 3.6%

Value ($000) $16,071 Shares 507,780 Est. Cost $33.03 Unrealized —

LEN LENNAR CORP 2.7%

Value ($000) $11,740 Shares 262,000 Est. Cost $37.55 Unrealized 0.0%

— NEW HOME CO INC 2.6%

Value ($000) $11,457 Shares 791,210 Est. Cost $14.20 Unrealized —

— SINCLAIR BROADCAST GROUP INC 2.3%

Value ($000) $10,038 Shares 366,893 Est. Cost $29.44 Unrealized —

MTH MERITAGE HOMES CORP 2.3%

Value ($000) $10,005 Shares 278,000 Est. Cost $18.25 Unrealized 0.0%

DHI D R HORTON INC 2.3%

Value ($000) $9,964 Shares 394,000 Est. Cost $20.70 Unrealized 0.0%

— NCI BUILDING SYS INC 1.8%

Value ($000) $7,949 Shares 429,208 Est. Cost $16.48 Unrealized —

MCRI MONARCH CASINO & RESORT INC 1.7%

Value ($000) $7,583 Shares 457,072 Est. Cost $16.65 Unrealized -8.9%

F FORD MTR CO DEL 1.7%

Value ($000) $7,515 Shares 484,812 Est. Cost $7.68 Unrealized +6.2%

— SPEEDWAY MOTORSPORTS INC 1.7%

Value ($000) $7,511 Shares 343,426 Est. Cost $17.64 Unrealized —

GS GOLDMAN SACHS GROUP INC 1.6%

Value ($000) $7,133 Shares 36,802 Est. Cost $122.22 Unrealized +23.4%

— ICONIX BRAND GROUP INC 1.6%

Value ($000) $7,099 Shares 6,000,000 Est. Cost $1.27 Unrealized —

— LYON WILLIAM HOMES 1.3%

Value ($000) $5,888 Shares 290,500 Est. Cost $20.27 Unrealized —

MHO M/I HOMES INC 1.2%

Value ($000) $5,223 Shares 227,472 Est. Cost $23.06 Unrealized -5.6%

LNWO SCIENTIFIC GAMES CORP 1.0%

Value ($000) $4,377 Shares 343,800 Est. Cost $10.35 Unrealized +16.3%

— WCI CMNTYS INC 0.9%

Value ($000) $3,791 Shares 193,600 Est. Cost $19.58 Unrealized —

— CREDIT SUISSE NASSAU BRH 0.1%

Value ($000) $498 Shares 16,000 Est. Cost $31.13 Unrealized —

IWM ISHARES TR 0.1%

Value ($000) $284 Shares 1,000,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GM	GENERAL MTRS CO	1,216,342	$42,462	9.6%	$25.62	-4.4%	COM	37045V100
MGM	MGM RESORTS INTERNATIONAL	1,955,902	$41,817	9.5%	$19.55	+4.9%	COM	552953101
PHM	PULTE GROUP INC	1,680,152	$36,056	8.2%	$16.65	+4.0%	COM	745867101
C	CITIGROUP INC	625,497	$33,846	7.7%	$36.21	+9.2%	COM	172967424
DAN	DANA HLDG CORP	1,386,087	$30,134	6.8%	$16.35	-0.8%	COM	235825205
—	RYLAND GROUP INC	628,087	$24,219	5.5%	$36.76	—	COM	783764103
GLPI	GAMING & LEISURE PPTYS INC	807,259	$23,685	5.4%	$40.14	—	COM	36467J108
—	NORCRAFT COS INC	1,105,724	$21,340	4.8%	$17.52	—	COM	65557Y105
AAL	AMERICAN AIRLS GROUP INC.	356,660	$19,128	4.3%	$32.64	+25.0%	COM	02376R102
PENN	PENN NATL GAMING INC	1,281,540	$17,596	4.0%	$12.95	0.0%	COM	707569109
TMHC	TAYLOR MORRISON HOME CORP	872,044	$16,473	3.7%	$17.85	0.0%	CL A	87724P106
—	INTERNATIONAL SPEEDWAY CORP	507,780	$16,071	3.6%	$33.03	—	CL A	460335201
LEN	LENNAR CORP	262,000	$11,740	2.7%	$37.55	0.0%	CL A	526057104
—	NEW HOME CO INC	791,210	$11,457	2.6%	$14.20	—	COM	645370107
—	SINCLAIR BROADCAST GROUP INC	366,893	$10,038	2.3%	$29.44	—	CL A	829226109
MTH	MERITAGE HOMES CORP	278,000	$10,005	2.3%	$18.25	0.0%	COM	59001A102
DHI	D R HORTON INC	394,000	$9,964	2.3%	$20.70	0.0%	COM	23331A109
—	NCI BUILDING SYS INC	429,208	$7,949	1.8%	$16.48	—	COM NEW	628852204
MCRI	MONARCH CASINO & RESORT INC	457,072	$7,583	1.7%	$16.65	-8.9%	COM	609027107
F	FORD MTR CO DEL	484,812	$7,515	1.7%	$7.68	+6.2%	COM PAR $0.01	345370860
—	SPEEDWAY MOTORSPORTS INC	343,426	$7,511	1.7%	$17.64	—	COM	847788106
GS	GOLDMAN SACHS GROUP INC	36,802	$7,133	1.6%	$122.22	+23.4%	COM	38141G104
—	ICONIX BRAND GROUP INC	6,000,000	$7,099	1.6%	$1.27	—	NOTE 1.500% 3/1	451055AF4
—	LYON WILLIAM HOMES	290,500	$5,888	1.3%	$20.27	—	CL A NEW	552074700
MHO	M/I HOMES INC	227,472	$5,223	1.2%	$23.06	-5.6%	COM	55305B101
LNWO	SCIENTIFIC GAMES CORP	343,800	$4,377	1.0%	$10.35	+16.3%	CL A	80874P109
—	WCI CMNTYS INC	193,600	$3,791	0.9%	$19.58	—	COM PAR $0.01	92923C807
—	CREDIT SUISSE NASSAU BRH	16,000	$498	0.1%	$31.13	—	INVRS VIX STERM	22542D795
IWM	ISHARES TR	1,000,000	$284	0.1%	—	—	Put	464287655