Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q1 2020 (← Previous) (Next →)

Filing Date: May 15, 2020

Total Value ($000): $23,906 (49.7% shares, 50.3% debt)

Holdings (24)

GLPI GAMING & LEISURE PPTYS INC 16.8%

Value ($000) $4,018 Shares 145,000 Est. Cost $33.85 Unrealized —

— TESLA INC 15.3%

Value ($000) $3,648 Shares 2,000,000 Est. Cost $1.67 Unrealized —

— Q2 HLDGS INC 14.8%

Value ($000) $3,544 Shares 3,000,000 Est. Cost $1.43 Unrealized —

— RINGCENTRAL INC 11.0%

Value ($000) $2,619 Shares 1,000,000 Est. Cost $1.50 Unrealized —

— NEXTIER OILFIELD SOLUTIONS 9.0%

Value ($000) $2,160 Shares 1,846,200 Est. Cost $3.52 Unrealized —

— PIONEER NAT RES CO 8.0%

Value ($000) $1,912 Shares 27,250 Est. Cost $164.54 Unrealized —

— WORKDAY INC 4.6%

Value ($000) $1,108 Shares 1,000,000 Est. Cost $1.31 Unrealized —

— LENDINGTREE INC NEW 4.6%

Value ($000) $1,095 Shares 1,000,000 Est. Cost $2.09 Unrealized —

— UNITED STATES OIL FUND LP 2.6%

Value ($000) $614 Shares 1,603,500 Est. Cost — Unrealized —

— PROSHARES TR II 2.5%

Value ($000) $594 Shares 593,100 Est. Cost — Unrealized —

MCRI MONARCH CASINO & RESORT INC 1.8%

Value ($000) $421 Shares 15,000 Est. Cost $43.86 Unrealized 0.0%

SPY SPDR S&P 500 ETF TR 1.6%

Value ($000) $391 Shares 55,000 Est. Cost — Unrealized —

PUMP PROPETRO HLDG CORP 1.4%

Value ($000) $325 Shares 130,000 Est. Cost $8.94 Unrealized -10.1%

— SUPERIOR ENERGY SVCS INC 1.3%

Value ($000) $320 Shares 217,500 Est. Cost $5.01 Unrealized —

HYG ISHARES TR 1.2%

Value ($000) $288 Shares 160,000 Est. Cost — Unrealized —

— CORNERSTONE BLDG BRANDS INC 1.0%

Value ($000) $251 Shares 55,000 Est. Cost $5.83 Unrealized —

XLI SELECT SECTOR SPDR TR 0.6%

Value ($000) $135 Shares 100,000 Est. Cost — Unrealized —

EEM ISHARES TR 0.5%

Value ($000) $116 Shares 90,000 Est. Cost — Unrealized —

— NOBLE CORP PLC 0.3%

Value ($000) $81 Shares 309,889 Est. Cost $1.79 Unrealized —

QQQ INVESCO QQQ TR 0.3%

Value ($000) $72 Shares 25,000 Est. Cost — Unrealized —

AAL AMERICAN AIRLS GROUP INC 0.3%

Value ($000) $66 Shares 170,000 Est. Cost — Unrealized —

— PIONEER NAT RES CO 0.3%

Value ($000) $63 Shares 20,000 Est. Cost $164.54 Unrealized —

IWM ISHARES TR 0.2%

Value ($000) $39 Shares 325,200 Est. Cost — Unrealized —

— CENTENNIAL RESOURCE DEV INC 0.1%

Value ($000) $26 Shares 100,000 Est. Cost $13.81 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLPI	GAMING & LEISURE PPTYS INC	145,000	$4,018	16.8%	$33.85	—	COM	36467J108
—	TESLA INC	2,000,000	$3,648	15.3%	$1.67	—	NOTE 2.000% 5/1	88160RAG6
—	Q2 HLDGS INC	3,000,000	$3,544	14.8%	$1.43	—	NOTE 0.750% 2/1	74736LAB5
—	RINGCENTRAL INC	1,000,000	$2,619	11.0%	$1.50	—	NOTE 3/1	76680RAD9
—	NEXTIER OILFIELD SOLUTIONS	1,846,200	$2,160	9.0%	$3.52	—	COM	65290C105
—	PIONEER NAT RES CO	27,250	$1,912	8.0%	$164.54	—	COM	723787107
—	WORKDAY INC	1,000,000	$1,108	4.6%	$1.31	—	NOTE 0.250% 10/0	98138HAF8
—	LENDINGTREE INC NEW	1,000,000	$1,095	4.6%	$2.09	—	NOTE 0.625% 6/0	52603BAA5
—	UNITED STATES OIL FUND LP	1,603,500	$614	2.6%	—	—	Put	91232N108
—	PROSHARES TR II	593,100	$594	2.5%	—	—	Put	74347W148
MCRI	MONARCH CASINO & RESORT INC	15,000	$421	1.8%	$43.86	0.0%	COM	609027107
SPY	SPDR S&P 500 ETF TR	55,000	$391	1.6%	—	—	Call	78462F103
PUMP	PROPETRO HLDG CORP	130,000	$325	1.4%	$8.94	-10.1%	COM	74347M108
—	SUPERIOR ENERGY SVCS INC	217,500	$320	1.3%	$5.01	—	COM NEW	868157306
HYG	ISHARES TR	160,000	$288	1.2%	—	—	Put	464288513
—	CORNERSTONE BLDG BRANDS INC	55,000	$251	1.0%	$5.83	—	COM	21925D109
XLI	SELECT SECTOR SPDR TR	100,000	$135	0.6%	—	—	Put	81369Y704
EEM	ISHARES TR	90,000	$116	0.5%	—	—	Put	464287234
—	NOBLE CORP PLC	309,889	$81	0.3%	$1.79	—	SHS USD	G65431101
QQQ	INVESCO QQQ TR	25,000	$72	0.3%	—	—	Put	46090E103
AAL	AMERICAN AIRLS GROUP INC	170,000	$66	0.3%	—	—	Put	02376R102
—	PIONEER NAT RES CO	20,000	$63	0.3%	$164.54	—	Put	723787107
IWM	ISHARES TR	325,200	$39	0.2%	—	—	Put	464287655
—	CENTENNIAL RESOURCE DEV INC	100,000	$26	0.1%	$13.81	—	CL A	15136A102