Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q3 2017 (← Previous) (Next →)

Filing Date: Nov 14, 2017

Total Value ($000): $147,333 (95.8% shares, 4.2% debt)

Holdings (27)

— UNIVERSAL FST PRODS INC 11.9%

Value ($000) $17,543 Shares 178,721 Est. Cost $87.31 Unrealized —

— BMC STK HLDGS INC 8.5%

Value ($000) $12,554 Shares 588,004 Est. Cost $19.50 Unrealized —

— SUPERIOR ENERGY SVCS INC 7.4%

Value ($000) $10,837 Shares 1,014,681 Est. Cost $13.36 Unrealized —

DHI D R HORTON INC 6.4%

Value ($000) $9,422 Shares 235,973 Est. Cost $24.31 Unrealized +36.8%

MHO M/I HOMES INC 6.2%

Value ($000) $9,204 Shares 344,316 Est. Cost $20.91 Unrealized +23.9%

MPT MEDICAL PPTYS TRUST INC 5.8%

Value ($000) $8,570 Shares 652,702 Est. Cost $12.93 Unrealized —

GLPI GAMING & LEISURE PPTYS INC 5.8%

Value ($000) $8,565 Shares 232,187 Est. Cost $35.75 Unrealized —

— ENERGY XXI GULF COAST INC 5.6%

Value ($000) $8,226 Shares 795,567 Est. Cost $28.93 Unrealized —

ALLY ALLY FINL INC 5.1%

Value ($000) $7,568 Shares 311,955 Est. Cost $13.23 Unrealized +31.6%

— GREAT AJAX CORP 4.8%

Value ($000) $7,048 Shares 500,245 Est. Cost $13.48 Unrealized —

LEN LENNAR CORP 4.5%

Value ($000) $6,614 Shares 125,271 Est. Cost $38.99 Unrealized +17.0%

— TESLA INC 4.2%

Value ($000) $6,141 Shares 5,000,000 Est. Cost $1.26 Unrealized —

— C&J ENERGY SVCS INC NEW 4.1%

Value ($000) $5,994 Shares 200,000 Est. Cost $29.97 Unrealized —

— WEATHERFORD INTL PLC 2.9%

Value ($000) $4,334 Shares 946,304 Est. Cost $5.62 Unrealized —

— PLY GEM HLDGS INC 2.6%

Value ($000) $3,831 Shares 224,694 Est. Cost $17.05 Unrealized —

— NABORS INDUSTRIES LTD 2.4%

Value ($000) $3,588 Shares 444,556 Est. Cost $8.07 Unrealized —

PUMP PROPETRO HLDG CORP 1.9%

Value ($000) $2,756 Shares 192,072 Est. Cost $12.55 Unrealized 0.0%

NEXT NEXTDECADE CORP 1.8%

Value ($000) $2,587 Shares 274,649 Est. Cost $9.79 Unrealized 0.0%

PHM PULTE GROUP INC 1.7%

Value ($000) $2,576 Shares 94,269 Est. Cost $16.97 Unrealized +35.7%

C CITIGROUP INC 1.5%

Value ($000) $2,205 Shares 30,311 Est. Cost $36.41 Unrealized +42.6%

— PIONEER NAT RES CO 1.4%

Value ($000) $2,117 Shares 14,350 Est. Cost $147.53 Unrealized —

— CALIFORNIA RES CORP 1.3%

Value ($000) $1,910 Shares 182,564 Est. Cost $15.32 Unrealized —

CYH COMMUNITY HEALTH SYS INC NEW 0.9%

Value ($000) $1,266 Shares 164,795 Est. Cost $9.15 Unrealized -14.8%

— UNITED STATES OIL FUND LP 0.6%

Value ($000) $813 Shares 3,495,000 Est. Cost — Unrealized —

— NEXTDECADE CORP 0.5%

Value ($000) $756 Shares 812,417 Est. Cost $0.93 Unrealized —

IWM ISHARES TR 0.2%

Value ($000) $221 Shares 230,000 Est. Cost — Unrealized —

— POWERSHARES QQQ TRUST 0.1%

Value ($000) $87 Shares 140,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	UNIVERSAL FST PRODS INC	178,721	$17,543	11.9%	$87.31	—	COM	913543104
—	BMC STK HLDGS INC	588,004	$12,554	8.5%	$19.50	—	COM	05591B109
—	SUPERIOR ENERGY SVCS INC	1,014,681	$10,837	7.4%	$13.36	—	COM	868157108
DHI	D R HORTON INC	235,973	$9,422	6.4%	$24.31	+36.8%	COM	23331A109
MHO	M/I HOMES INC	344,316	$9,204	6.2%	$20.91	+23.9%	COM	55305B101
MPT	MEDICAL PPTYS TRUST INC	652,702	$8,570	5.8%	$12.93	—	COM	58463J304
GLPI	GAMING & LEISURE PPTYS INC	232,187	$8,565	5.8%	$35.75	—	COM	36467J108
—	ENERGY XXI GULF COAST INC	795,567	$8,226	5.6%	$28.93	—	COM	29276K101
ALLY	ALLY FINL INC	311,955	$7,568	5.1%	$13.23	+31.6%	COM	02005N100
—	GREAT AJAX CORP	500,245	$7,048	4.8%	$13.48	—	COM	38983D300
LEN	LENNAR CORP	125,271	$6,614	4.5%	$38.99	+17.0%	CL A	526057104
—	TESLA INC	5,000,000	$6,141	4.2%	$1.26	—	NOTE 2.375% 3/1	88160RAD3
—	C&J ENERGY SVCS INC NEW	200,000	$5,994	4.1%	$29.97	—	COM	12674R100
—	WEATHERFORD INTL PLC	946,304	$4,334	2.9%	$5.62	—	ORD SHS	G48833100
—	PLY GEM HLDGS INC	224,694	$3,831	2.6%	$17.05	—	COM	72941W100
—	NABORS INDUSTRIES LTD	444,556	$3,588	2.4%	$8.07	—	SHS	G6359F103
PUMP	PROPETRO HLDG CORP	192,072	$2,756	1.9%	$12.55	0.0%	COM	74347M108
NEXT	NEXTDECADE CORP	274,649	$2,587	1.8%	$9.79	0.0%	COM	65342K105
PHM	PULTE GROUP INC	94,269	$2,576	1.7%	$16.97	+35.7%	COM	745867101
C	CITIGROUP INC	30,311	$2,205	1.5%	$36.41	+42.6%	COM NEW	172967424
—	PIONEER NAT RES CO	14,350	$2,117	1.4%	$147.53	—	COM	723787107
—	CALIFORNIA RES CORP	182,564	$1,910	1.3%	$15.32	—	COM NEW	13057Q206
CYH	COMMUNITY HEALTH SYS INC NEW	164,795	$1,266	0.9%	$9.15	-14.8%	COM	203668108
—	UNITED STATES OIL FUND LP	3,495,000	$813	0.6%	—	—	Put	91232N108
—	NEXTDECADE CORP	812,417	$756	0.5%	$0.93	—	*W EXP 07/23/202	65342K113
IWM	ISHARES TR	230,000	$221	0.2%	—	—	Put	464287655
—	POWERSHARES QQQ TRUST	140,000	$87	0.1%	—	—	Put	73935A104