Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q4 2020 (← Previous) (Next →)

Filing Date: Feb 16, 2021

Total Value ($000): $36,392 (77.1% shares, 22.9% debt)

Holdings (22)

— Q2 HLDGS INC 18.3%

Value ($000) $6,676 Shares 3,000,000 Est. Cost $1.43 Unrealized —

— BROADSTONE ACQUISITION CORP 9.1%

Value ($000) $3,298 Shares 328,200 Est. Cost $10.05 Unrealized —

— STARBOARD VALUE ACQUISITN CO 8.7%

Value ($000) $3,168 Shares 305,820 Est. Cost $10.36 Unrealized —

UFPI UFP INDUSTRIES INC 8.2%

Value ($000) $3,000 Shares 54,000 Est. Cost $54.88 Unrealized 0.0%

CCL CARNIVAL CORP 7.7%

Value ($000) $2,816 Shares 130,000 Est. Cost $17.78 Unrealized 0.0%

— NEXTIER OILFIELD SOLUTIONS 7.7%

Value ($000) $2,804 Shares 815,000 Est. Cost $3.52 Unrealized —

DAL DELTA AIR LINES INC DEL 6.0%

Value ($000) $2,191 Shares 54,500 Est. Cost $24.75 Unrealized +43.0%

— MONTES ARCHIMEDES ACQUISITIO 5.8%

Value ($000) $2,100 Shares 200,000 Est. Cost $10.50 Unrealized —

— CHURCHILL CAPITAL CORP IV 5.5%

Value ($000) $2,002 Shares 200,000 Est. Cost $9.78 Unrealized —

— FAST ACQUISITION CORP 4.9%

Value ($000) $1,792 Shares 175,000 Est. Cost $10.24 Unrealized —

— WORKDAY INC 4.6%

Value ($000) $1,671 Shares 1,000,000 Est. Cost $1.31 Unrealized —

— CORNERSTONE BLDG BRANDS INC 3.1%

Value ($000) $1,114 Shares 120,000 Est. Cost $7.16 Unrealized —

— CRESCENT ACQUISITION CORP 2.9%

Value ($000) $1,045 Shares 100,000 Est. Cost $10.04 Unrealized —

MVBF MVB FINL CORP 2.2%

Value ($000) $797 Shares 35,137 Est. Cost $16.61 Unrealized 0.0%

— PIONEER NAT RES CO 1.4%

Value ($000) $513 Shares 4,500 Est. Cost $164.54 Unrealized —

CRC CALIFORNIA RES CORP 1.2%

Value ($000) $448 Shares 18,974 Est. Cost $16.48 Unrealized 0.0%

IWM ISHARES TR 1.0%

Value ($000) $361 Shares 111,000 Est. Cost — Unrealized —

— BROADSTONE ACQUISITION CORP 0.5%

Value ($000) $184 Shares 164,100 Est. Cost $1.12 Unrealized —

— FAST ACQUISITION CORP 0.4%

Value ($000) $152 Shares 87,500 Est. Cost $1.74 Unrealized —

— CENTENNIAL RESOURCE DEV INC 0.4%

Value ($000) $150 Shares 100,000 Est. Cost $13.81 Unrealized —

— STARBOARD VALUE ACQUISITN CO 0.3%

Value ($000) $100 Shares 50,970 Est. Cost $1.96 Unrealized —

AAL AMERICAN AIRLS GROUP INC 0.0%

Value ($000) $10 Shares 980,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	Q2 HLDGS INC	3,000,000	$6,676	18.3%	$1.43	—	NOTE 0.750% 2/1	74736LAB5
—	BROADSTONE ACQUISITION CORP	328,200	$3,298	9.1%	$10.05	—	SHS CL A	G1739V100
—	STARBOARD VALUE ACQUISITN CO	305,820	$3,168	8.7%	$10.36	—	COM CL A	85521J109
UFPI	UFP INDUSTRIES INC	54,000	$3,000	8.2%	$54.88	0.0%	COM	90278Q108
CCL	CARNIVAL CORP	130,000	$2,816	7.7%	$17.78	0.0%	UNIT 99/99/9999	143658300
—	NEXTIER OILFIELD SOLUTIONS	815,000	$2,804	7.7%	$3.52	—	COM	65290C105
DAL	DELTA AIR LINES INC DEL	54,500	$2,191	6.0%	$24.75	+43.0%	COM NEW	247361702
—	MONTES ARCHIMEDES ACQUISITIO	200,000	$2,100	5.8%	$10.50	—	UNIT 09/30/2025	612657205
—	CHURCHILL CAPITAL CORP IV	200,000	$2,002	5.5%	$9.78	—	CL A	171439102
—	FAST ACQUISITION CORP	175,000	$1,792	4.9%	$10.24	—	COM CL A	311875108
—	WORKDAY INC	1,000,000	$1,671	4.6%	$1.31	—	NOTE 0.250% 10/0	98138HAF8
—	CORNERSTONE BLDG BRANDS INC	120,000	$1,114	3.1%	$7.16	—	COM	21925D109
—	CRESCENT ACQUISITION CORP	100,000	$1,045	2.9%	$10.04	—	COM CL A	22564L105
MVBF	MVB FINL CORP	35,137	$797	2.2%	$16.61	0.0%	COM	553810102
—	PIONEER NAT RES CO	4,500	$513	1.4%	$164.54	—	COM	723787107
CRC	CALIFORNIA RES CORP	18,974	$448	1.2%	$16.48	0.0%	COMMON STOCK	13057Q305
IWM	ISHARES TR	111,000	$361	1.0%	—	—	Put	464287655
—	BROADSTONE ACQUISITION CORP	164,100	$184	0.5%	$1.12	—	*W EXP 09/15/202	G1739V126
—	FAST ACQUISITION CORP	87,500	$152	0.4%	$1.74	—	*W EXP 08/25/202	311875116
—	CENTENNIAL RESOURCE DEV INC	100,000	$150	0.4%	$13.81	—	CL A	15136A102
—	STARBOARD VALUE ACQUISITN CO	50,970	$100	0.3%	$1.96	—	*W EXP 09/10/202	85521J117
AAL	AMERICAN AIRLS GROUP INC	980,000	$10	0.0%	—	—	Put	02376R102