Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q3 2020 (← Previous) (Next →)

Filing Date: Nov 16, 2020

Total Value ($000): $22,671 (64.0% shares, 36.0% debt)

Holdings (16)

— Q2 HLDGS INC 22.4%

Value ($000) $5,072 Shares 3,000,000 Est. Cost $1.43 Unrealized —

BSN/U BROADSTONE ACQUISITION CORP 14.4%

Value ($000) $3,272 Shares 328,149 Est. Cost $9.97 Unrealized —

— STARBOARD VALUE ACQUISITN CO 13.4%

Value ($000) $3,036 Shares 300,600 Est. Cost $10.10 Unrealized —

— CHURCHILL CAPITAL CORP IV 8.6%

Value ($000) $1,956 Shares 200,000 Est. Cost $9.78 Unrealized —

DAL DELTA AIR LINES INC DEL 8.1%

Value ($000) $1,835 Shares 60,000 Est. Cost $24.75 Unrealized +13.3%

— NEXTIER OILFIELD SOLUTIONS 7.1%

Value ($000) $1,618 Shares 874,765 Est. Cost $3.52 Unrealized —

— LENDINGTREE INC NEW 6.9%

Value ($000) $1,564 Shares 1,000,000 Est. Cost $2.09 Unrealized —

— WORKDAY INC 6.8%

Value ($000) $1,536 Shares 1,000,000 Est. Cost $1.31 Unrealized —

— CRESCENT ACQUISITION CORP 4.4%

Value ($000) $1,004 Shares 100,000 Est. Cost $10.04 Unrealized —

— CORNERSTONE BLDG BRANDS INC 3.7%

Value ($000) $838 Shares 105,000 Est. Cost $6.85 Unrealized —

— PIONEER NAT RES CO 1.7%

Value ($000) $387 Shares 4,500 Est. Cost $164.54 Unrealized —

AAL AMERICAN AIRLS GROUP INC 1.4%

Value ($000) $314 Shares 980,000 Est. Cost — Unrealized —

QQQ INVESCO QQQ TR 0.4%

Value ($000) $102 Shares 17,500 Est. Cost — Unrealized —

— CENTENNIAL RESOURCE DEV INC 0.3%

Value ($000) $60 Shares 100,000 Est. Cost $13.81 Unrealized —

IWM ISHARES TR 0.2%

Value ($000) $55 Shares 25,000 Est. Cost — Unrealized —

EEM ISHARES TR 0.1%

Value ($000) $22 Shares 180,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Q2 HLDGS INC	3,000,000	$5,072	22.4%	$1.43	—	NOTE 0.750% 2/1	74736LAB5
BSN/U	BROADSTONE ACQUISITION CORP	328,149	$3,272	14.4%	$9.97	—	UNIT 99/99/9999	G1739V118
—	STARBOARD VALUE ACQUISITN CO	300,600	$3,036	13.4%	$10.10	—	UNIT 09/10/2025	85521J208
—	CHURCHILL CAPITAL CORP IV	200,000	$1,956	8.6%	$9.78	—	CL A	171439102
DAL	DELTA AIR LINES INC DEL	60,000	$1,835	8.1%	$24.75	+13.3%	COM NEW	247361702
—	NEXTIER OILFIELD SOLUTIONS	874,765	$1,618	7.1%	$3.52	—	COM	65290C105
—	LENDINGTREE INC NEW	1,000,000	$1,564	6.9%	$2.09	—	NOTE 0.625% 6/0	52603BAA5
—	WORKDAY INC	1,000,000	$1,536	6.8%	$1.31	—	NOTE 0.250% 10/0	98138HAF8
—	CRESCENT ACQUISITION CORP	100,000	$1,004	4.4%	$10.04	—	COM CL A	22564L105
—	CORNERSTONE BLDG BRANDS INC	105,000	$838	3.7%	$6.85	—	COM	21925D109
—	PIONEER NAT RES CO	4,500	$387	1.7%	$164.54	—	COM	723787107
AAL	AMERICAN AIRLS GROUP INC	980,000	$314	1.4%	—	—	Put	02376R102
QQQ	INVESCO QQQ TR	17,500	$102	0.4%	—	—	Put	46090E103
—	CENTENNIAL RESOURCE DEV INC	100,000	$60	0.3%	$13.81	—	CL A	15136A102
IWM	ISHARES TR	25,000	$55	0.2%	—	—	Put	464287655
EEM	ISHARES TR	180,000	$22	0.1%	—	—	Put	464287234