Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q2 2017 (← Previous) (Next →)

Filing Date: Aug 14, 2017

Total Value ($000): $211,220 (95.3% shares, 4.7% debt)

Holdings (26)

— UNIVERSAL FST PRODS INC 11.1%

Value ($000) $23,518 Shares 269,366 Est. Cost $87.31 Unrealized —

— ENERGY XXI GULF COAST INC 9.7%

Value ($000) $20,571 Shares 1,107,740 Est. Cost $28.93 Unrealized —

DHI D R HORTON INC 7.9%

Value ($000) $16,774 Shares 485,213 Est. Cost $24.31 Unrealized +25.0%

— BMC STK HLDGS INC 7.7%

Value ($000) $16,212 Shares 741,951 Est. Cost $19.50 Unrealized —

— GREAT AJAX CORP 6.4%

Value ($000) $13,446 Shares 961,767 Est. Cost $13.48 Unrealized —

— SUPERIOR ENERGY SVCS INC 6.3%

Value ($000) $13,264 Shares 1,271,703 Est. Cost $13.36 Unrealized —

LGIH LGI HOMES INC 5.6%

Value ($000) $11,857 Shares 295,109 Est. Cost $23.19 Unrealized +44.7%

ALLY ALLY FINL INC 5.5%

Value ($000) $11,697 Shares 559,672 Est. Cost $13.23 Unrealized +15.2%

MHO M/I HOMES INC 5.5%

Value ($000) $11,521 Shares 403,538 Est. Cost $20.91 Unrealized +30.0%

GLPI GAMING & LEISURE PPTYS INC 4.8%

Value ($000) $10,085 Shares 267,712 Est. Cost $35.75 Unrealized —

LEN LENNAR CORP 4.1%

Value ($000) $8,632 Shares 161,889 Est. Cost $38.99 Unrealized +15.4%

— WEATHERFORD INTL PLC 3.7%

Value ($000) $7,816 Shares 2,019,528 Est. Cost $5.62 Unrealized —

CYH COMMUNITY HEALTH SYS INC NEW 3.7%

Value ($000) $7,759 Shares 779,000 Est. Cost $9.15 Unrealized 0.0%

MPT MEDICAL PPTYS TRUST INC 3.0%

Value ($000) $6,396 Shares 497,000 Est. Cost $12.87 Unrealized —

— TESLA INC 3.0%

Value ($000) $6,281 Shares 5,000,000 Est. Cost $1.26 Unrealized —

TOL TOLL BROTHERS INC 2.6%

Value ($000) $5,388 Shares 136,361 Est. Cost $28.10 Unrealized +32.8%

— BASIC ENERGY SVCS INC NEW 2.3%

Value ($000) $4,936 Shares 198,216 Est. Cost $27.25 Unrealized —

PHM PULTE GROUP INC 1.8%

Value ($000) $3,856 Shares 157,188 Est. Cost $16.97 Unrealized +24.7%

C CITIGROUP INC 1.8%

Value ($000) $3,746 Shares 56,011 Est. Cost $36.41 Unrealized +27.6%

— TOLL BROS FIN CORP 1.4%

Value ($000) $2,993 Shares 3,000,000 Est. Cost $1.06 Unrealized —

— CALIFORNIA RES CORP 1.4%

Value ($000) $2,892 Shares 338,246 Est. Cost $15.32 Unrealized —

— MERITAGE HOMES CORP 0.3%

Value ($000) $605 Shares 600,000 Est. Cost $1.07 Unrealized —

— HARMONY MERGER CORP 0.3%

Value ($000) $576 Shares 720,000 Est. Cost $0.22 Unrealized —

— HARMONY MERGER CORP 0.1%

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

— PENNEY J C INC 0.0%

Value ($000) $83 Shares 757,600 Est. Cost — 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
—	UNIVERSAL FST PRODS INC	269,366	$23,518	11.1%	$87.31	—	COM	913543104
—	ENERGY XXI GULF COAST INC	1,107,740	$20,571	9.7%	$28.93	—	COM	29276K101
DHI	D R HORTON INC	485,213	$16,774	7.9%	$24.31	+25.0%	COM	23331A109
—	BMC STK HLDGS INC	741,951	$16,212	7.7%	$19.50	—	COM	05591B109
—	GREAT AJAX CORP	961,767	$13,446	6.4%	$13.48	—	COM	38983D300
—	SUPERIOR ENERGY SVCS INC	1,271,703	$13,264	6.3%	$13.36	—	COM	868157108
LGIH	LGI HOMES INC	295,109	$11,857	5.6%	$23.19	+44.7%	COM	50187T106
ALLY	ALLY FINL INC	559,672	$11,697	5.5%	$13.23	+15.2%	COM	02005N100
MHO	M/I HOMES INC	403,538	$11,521	5.5%	$20.91	+30.0%	COM	55305B101
GLPI	GAMING & LEISURE PPTYS INC	267,712	$10,085	4.8%	$35.75	—	COM	36467J108
LEN	LENNAR CORP	161,889	$8,632	4.1%	$38.99	+15.4%	CL A	526057104
—	WEATHERFORD INTL PLC	2,019,528	$7,816	3.7%	$5.62	—	ORD SHS	G48833100
CYH	COMMUNITY HEALTH SYS INC NEW	779,000	$7,759	3.7%	$9.15	0.0%	COM	203668108
MPT	MEDICAL PPTYS TRUST INC	497,000	$6,396	3.0%	$12.87	—	COM	58463J304
—	TESLA INC	5,000,000	$6,281	3.0%	$1.26	—	NOTE 2.375% 3/1	88160RAD3
TOL	TOLL BROTHERS INC	136,361	$5,388	2.6%	$28.10	+32.8%	COM	889478103
—	BASIC ENERGY SVCS INC NEW	198,216	$4,936	2.3%	$27.25	—	COM NEW	06985P209
PHM	PULTE GROUP INC	157,188	$3,856	1.8%	$16.97	+24.7%	COM	745867101
C	CITIGROUP INC	56,011	$3,746	1.8%	$36.41	+27.6%	COM NEW	172967424
—	TOLL BROS FIN CORP	3,000,000	$2,993	1.4%	$1.06	—	NOTE 0.500% 9/1	88947EAM2
—	CALIFORNIA RES CORP	338,246	$2,892	1.4%	$15.32	—	COM NEW	13057Q206
—	MERITAGE HOMES CORP	600,000	$605	0.3%	$1.07	—	NOTE 1.875% 9/1	59001AAR3
—	HARMONY MERGER CORP	720,000	$576	0.3%	$0.22	—	*W EXP 01/01/202	413247123
—	HARMONY MERGER CORP	90,000	$315	0.1%	$8.18	—	UNIT 99/99/9999	413247206
—	PENNEY J C INC	757,600	$83	0.0%	—	—	Call	708160106
—	HARMONY MERGER CORP	182,232	$1	0.0%	$0.01	—	COM	413247107