Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q1 2017 (← Previous) (Next →)

Filing Date: May 15, 2017

Total Value ($000): $260,485 (97.1% shares, 2.9% debt)

Holdings (30)

— ENERGY XXI GULF COAST INC 11.6%

Value ($000) $30,168 Shares 1,006,615 Est. Cost $29.97 Unrealized —

DHI D R HORTON INC 8.3%

Value ($000) $21,720 Shares 652,061 Est. Cost $24.31 Unrealized +15.7%

GLPI GAMING & LEISURE PPTYS INC 8.0%

Value ($000) $20,894 Shares 625,184 Est. Cost $35.75 Unrealized —

LEN LENNAR CORP 7.2%

Value ($000) $18,692 Shares 365,159 Est. Cost $38.99 Unrealized +6.2%

— BMC STK HLDGS INC 6.7%

Value ($000) $17,529 Shares 775,609 Est. Cost $19.50 Unrealized —

LGIH LGI HOMES INC 6.3%

Value ($000) $16,499 Shares 486,563 Est. Cost $23.19 Unrealized +31.4%

PHM PULTE GROUP INC 6.0%

Value ($000) $15,682 Shares 665,891 Est. Cost $16.97 Unrealized +14.7%

— GREAT AJAX CORP 5.6%

Value ($000) $14,615 Shares 1,119,901 Est. Cost $13.48 Unrealized —

ALLY ALLY FINL INC 4.8%

Value ($000) $12,395 Shares 609,672 Est. Cost $13.23 Unrealized +24.1%

— WEATHERFORD INTL PLC 4.6%

Value ($000) $12,112 Shares 1,821,293 Est. Cost $5.81 Unrealized —

TOL TOLL BROTHERS INC 4.6%

Value ($000) $12,046 Shares 333,579 Est. Cost $28.10 Unrealized +18.7%

— SUPERIOR ENERGY SVCS INC 4.6%

Value ($000) $11,928 Shares 836,481 Est. Cost $14.89 Unrealized —

MHO M/I HOMES INC 3.8%

Value ($000) $9,887 Shares 403,538 Est. Cost $20.91 Unrealized +17.2%

— CALATLANTIC GROUP INC 3.2%

Value ($000) $8,210 Shares 219,224 Est. Cost $37.92 Unrealized —

— LYON WILLIAM HOMES 2.8%

Value ($000) $7,387 Shares 358,256 Est. Cost $20.71 Unrealized —

GM GENERAL MTRS CO 1.7%

Value ($000) $4,369 Shares 123,544 Est. Cost $25.54 Unrealized +21.2%

— CALIFORNIA RES CORP 1.6%

Value ($000) $4,094 Shares 272,208 Est. Cost $16.96 Unrealized —

— EVERI HLDGS INC 1.6%

Value ($000) $4,059 Shares 847,393 Est. Cost $1.15 Unrealized —

C CITIGROUP INC 1.3%

Value ($000) $3,351 Shares 56,011 Est. Cost $36.41 Unrealized +22.7%

— M/I HOMES INC 1.2%

Value ($000) $3,061 Shares 2,715,000 Est. Cost $1.18 Unrealized —

— TOLL BROS FIN CORP 1.1%

Value ($000) $2,981 Shares 3,000,000 Est. Cost $1.06 Unrealized —

PENN PENN NATL GAMING INC 1.1%

Value ($000) $2,934 Shares 159,178 Est. Cost $13.40 Unrealized +9.5%

— ATWOOD OCEANICS INC 0.6%

Value ($000) $1,661 Shares 174,323 Est. Cost $9.53 Unrealized —

— BASIC ENERGY SVCS INC NEW 0.6%

Value ($000) $1,486 Shares 44,534 Est. Cost $35.35 Unrealized —

— STANDARD PAC CORP NEW 0.4%

Value ($000) $989 Shares 957,000 Est. Cost $1.05 Unrealized —

— MERITAGE HOMES CORP 0.2%

Value ($000) $598 Shares 600,000 Est. Cost $1.07 Unrealized —

IWM ISHARES TR 0.2%

Value ($000) $462 Shares 650,000 Est. Cost — Unrealized —

— HARMONY MERGER CORP 0.1%

Value ($000) $360 Shares 720,000 Est. Cost $0.22 Unrealized —

— HARMONY MERGER CORP 0.1%

Value ($000) $315 Shares 90,000 Est. Cost $8.18 Unrealized —

— HARMONY MERGER CORP 0.0%

Value ($000) $1 Shares 182,232 Est. Cost $0.01 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	ENERGY XXI GULF COAST INC	1,006,615	$30,168	11.6%	$29.97	—	COM	29276K101
DHI	D R HORTON INC	652,061	$21,720	8.3%	$24.31	+15.7%	COM	23331A109
GLPI	GAMING & LEISURE PPTYS INC	625,184	$20,894	8.0%	$35.75	—	COM	36467J108
LEN	LENNAR CORP	365,159	$18,692	7.2%	$38.99	+6.2%	CL A	526057104
—	BMC STK HLDGS INC	775,609	$17,529	6.7%	$19.50	—	COM	05591B109
LGIH	LGI HOMES INC	486,563	$16,499	6.3%	$23.19	+31.4%	COM	50187T106
PHM	PULTE GROUP INC	665,891	$15,682	6.0%	$16.97	+14.7%	COM	745867101
—	GREAT AJAX CORP	1,119,901	$14,615	5.6%	$13.48	—	COM	38983D300
ALLY	ALLY FINL INC	609,672	$12,395	4.8%	$13.23	+24.1%	COM	02005N100
—	WEATHERFORD INTL PLC	1,821,293	$12,112	4.6%	$5.81	—	ORD SHS	G48833100
TOL	TOLL BROTHERS INC	333,579	$12,046	4.6%	$28.10	+18.7%	COM	889478103
—	SUPERIOR ENERGY SVCS INC	836,481	$11,928	4.6%	$14.89	—	COM	868157108
MHO	M/I HOMES INC	403,538	$9,887	3.8%	$20.91	+17.2%	COM	55305B101
—	CALATLANTIC GROUP INC	219,224	$8,210	3.2%	$37.92	—	COM	128195104
—	LYON WILLIAM HOMES	358,256	$7,387	2.8%	$20.71	—	CL A NEW	552074700
GM	GENERAL MTRS CO	123,544	$4,369	1.7%	$25.54	+21.2%	COM	37045V100
—	CALIFORNIA RES CORP	272,208	$4,094	1.6%	$16.96	—	COM NEW	13057Q206
—	EVERI HLDGS INC	847,393	$4,059	1.6%	$1.15	—	COM	30034T103
C	CITIGROUP INC	56,011	$3,351	1.3%	$36.41	+22.7%	COM NEW	172967424
—	M/I HOMES INC	2,715,000	$3,061	1.2%	$1.18	—	NOTE 3.250% 9/1	55292PAA3
—	TOLL BROS FIN CORP	3,000,000	$2,981	1.1%	$1.06	—	NOTE 0.500% 9/1	88947EAM2
PENN	PENN NATL GAMING INC	159,178	$2,934	1.1%	$13.40	+9.5%	COM	707569109
—	ATWOOD OCEANICS INC	174,323	$1,661	0.6%	$9.53	—	COM	050095108
—	BASIC ENERGY SVCS INC NEW	44,534	$1,486	0.6%	$35.35	—	COM NEW	06985P209
—	STANDARD PAC CORP NEW	957,000	$989	0.4%	$1.05	—	NOTE 1.250% 8/0	85375CBC4
—	MERITAGE HOMES CORP	600,000	$598	0.2%	$1.07	—	NOTE 1.875% 9/1	59001AAR3
IWM	ISHARES TR	650,000	$462	0.2%	—	—	Put	464287655
—	HARMONY MERGER CORP	720,000	$360	0.1%	$0.22	—	*W EXP 01/01/202	413247123
—	HARMONY MERGER CORP	90,000	$315	0.1%	$8.18	—	UNIT 99/99/9999	413247206
—	HARMONY MERGER CORP	182,232	$1	0.0%	$0.01	—	COM	413247107