Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q4 2022 (← Previous) (Next →)

Filing Date: Feb 14, 2023

Total Value ($000): $88,471 (87.0% shares, 13.0% debt)

Holdings (33)

SPY SPDR S&P 500 ETF TR 39.8%

Value ($000) $35,184 Shares 92,000 Est. Cost — Unrealized —

IWM ISHARES TR 23.6%

Value ($000) $20,923 Shares 120,000 Est. Cost $166.78 Unrealized —

GLD SPDR GOLD TR 6.4%

Value ($000) $5,683 Shares 33,500 Est. Cost — Unrealized —

— COPA HOLDINGS SA 5.8%

Value ($000) $5,103 Shares 3,000,000 Est. Cost $1.75 Unrealized —

QQQ INVESCO QQQ TR 5.3%

Value ($000) $4,660 Shares 17,500 Est. Cost — Unrealized —

— NCL CORP LTD 4.6%

Value ($000) $4,034 Shares 4,000,000 Est. Cost $1.31 Unrealized —

— SOUTHWEST AIRLS CO 2.7%

Value ($000) $2,402 Shares 2,000,000 Est. Cost $1.33 Unrealized —

DAL DELTA AIR LINES INC DEL 2.3%

Value ($000) $2,054 Shares 62,500 Est. Cost $32.81 Unrealized -1.7%

— CHURCHILL CAPITAL CORP VI 2.3%

Value ($000) $1,999 Shares 200,000 Est. Cost $9.86 Unrealized —

RIG TRANSOCEAN LTD 1.3%

Value ($000) $1,140 Shares 250,000 Est. Cost $3.86 Unrealized 0.0%

IWM ISHARES TR 1.2%

Value ($000) $1,046 Shares 6,000 Est. Cost $166.78 Unrealized —

PR PERMIAN RESOURCES CORP 1.1%

Value ($000) $940 Shares 100,000 Est. Cost $6.91 Unrealized +38.6%

CRC CALIFORNIA RES CORP 0.9%

Value ($000) $826 Shares 18,974 Est. Cost $16.48 Unrealized +143.0%

LUV SOUTHWEST AIRLS CO 0.8%

Value ($000) $673 Shares 20,000 Est. Cost $33.87 Unrealized -1.0%

PDEX PRO-DEX INC COLO 0.4%

Value ($000) $398 Shares 25,000 Est. Cost $26.17 Unrealized -31.7%

GTIM GOOD TIMES RESTAURANTS INC 0.4%

Value ($000) $379 Shares 169,160 Est. Cost $4.22 Unrealized -43.6%

BHC BAUSCH HEALTH COS INC 0.4%

Value ($000) $377 Shares 60,000 Est. Cost $6.95 Unrealized +0.6%

— ROIVANT SCIENCES LTD 0.2%

Value ($000) $194 Shares 100,000 Est. Cost — Unrealized —

BLCO BAUSCH PLUS LOMB CORP 0.2%

Value ($000) $189 Shares 12,200 Est. Cost $15.02 Unrealized 0.0%

NE NOBLE CORP PLC 0.2%

Value ($000) $169 Shares 4,475 Est. Cost $25.79 Unrealized +20.3%

EVTWF VERTICAL AEROSPACE LTD 0.1%

Value ($000) $52 Shares 164,100 Est. Cost $0.68 Unrealized —

— TH INTERNATIONAL LIMITED 0.0%

Value ($000) $13 Shares 110,000 Est. Cost $0.35 Unrealized —

— FAZE HOLDINGS INC 0.0%

Value ($000) $8 Shares 65,000 Est. Cost $0.55 Unrealized —

ECXWW ECARX HOLDINGS INC 0.0%

Value ($000) $7 Shares 75,000 Est. Cost $0.10 Unrealized —

— CIPHER MINING INC 0.0%

Value ($000) $6 Shares 100,000 Est. Cost $2.28 Unrealized —

— EVO ACQUISITION CORP 0.0%

Value ($000) $3 Shares 50,000 Est. Cost $0.62 Unrealized —

— CHURCHILL CAPITAL CORP VI 0.0%

Value ($000) $2 Shares 40,000 Est. Cost $1.40 Unrealized —

AEAEW ALTENERGY ACQUISITION CORP 0.0%

Value ($000) $2 Shares 22,500 Est. Cost $0.58 Unrealized —

— LUMIRADX LTD 0.0%

Value ($000) $2 Shares 27,500 Est. Cost $1.16 Unrealized —

— SKYDECK ACQUISITION CORP 0.0%

Value ($000) $1 Shares 45,900 Est. Cost $0.74 Unrealized —

— TZP STRATEGIES ACQUISTN CORP 0.0%

Value ($000) $1 Shares 35,000 Est. Cost $0.60 Unrealized —

— SILVER SPIKE ACQUISITN CORP 0.0%

Value ($000) $1 Shares 27,500 Est. Cost $1.35 Unrealized —

— EDIFY ACQUISITION CORP 0.0%

Value ($000) $0 Shares 15,000 Est. Cost $0.53 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	92,000	$35,184	39.8%	—	—	Call	78462F103
IWM	ISHARES TR	120,000	$20,923	23.6%	$166.78	—	Call	464287655
GLD	SPDR GOLD TR	33,500	$5,683	6.4%	—	—	Call	78463V107
—	COPA HOLDINGS SA	3,000,000	$5,103	5.8%	$1.75	—	NOTE 4.500% 4/1	21720AAB8
QQQ	INVESCO QQQ TR	17,500	$4,660	5.3%	—	—	Call	46090E103
—	NCL CORP LTD	4,000,000	$4,034	4.6%	$1.31	—	NOTE 5.375% 8/0	62886HAX9
—	SOUTHWEST AIRLS CO	2,000,000	$2,402	2.7%	$1.33	—	NOTE 1.250% 5/0	844741BG2
DAL	DELTA AIR LINES INC DEL	62,500	$2,054	2.3%	$32.81	-1.7%	COM NEW	247361702
—	CHURCHILL CAPITAL CORP VI	200,000	$1,999	2.3%	$9.86	—	COM CL A	17143W101
RIG	TRANSOCEAN LTD	250,000	$1,140	1.3%	$3.86	0.0%	REG SHS	H8817H100
IWM	ISHARES TR	6,000	$1,046	1.2%	$166.78	—	RUSSELL 2000 ETF	464287655
PR	PERMIAN RESOURCES CORP	100,000	$940	1.1%	$6.91	+38.6%	CLASS A COM	71424F105
CRC	CALIFORNIA RES CORP	18,974	$826	0.9%	$16.48	+143.0%	COM STOCK	13057Q305
LUV	SOUTHWEST AIRLS CO	20,000	$673	0.8%	$33.87	-1.0%	COM	844741108
PDEX	PRO-DEX INC COLO	25,000	$398	0.4%	$26.17	-31.7%	COM NEW	74265M205
GTIM	GOOD TIMES RESTAURANTS INC	169,160	$379	0.4%	$4.22	-43.6%	COM NEW	382140879
BHC	BAUSCH HEALTH COS INC	60,000	$377	0.4%	$6.95	+0.6%	COM	071734107
—	ROIVANT SCIENCES LTD	100,000	$194	0.2%	—	—	*W EXP 09/30/202	G76279119
BLCO	BAUSCH PLUS LOMB CORP	12,200	$189	0.2%	$15.02	0.0%	COMMON SHARES	071705107
NE	NOBLE CORP PLC	4,475	$169	0.2%	$25.79	+20.3%	ORD SHS A	G65431127
EVTWF	VERTICAL AEROSPACE LTD	164,100	$52	0.1%	$0.68	—	*W EXP 09/15/202	G9471C115
—	TH INTERNATIONAL LIMITED	110,000	$13	0.0%	$0.35	—	*W EXP 09/28/202	G8656L114
—	FAZE HOLDINGS INC	65,000	$8	0.0%	$0.55	—	*W EXP 03/01/202	31423J110
ECXWW	ECARX HOLDINGS INC	75,000	$7	0.0%	$0.10	—	*W EXP 12/20/202 ADDED	G29201111
—	CIPHER MINING INC	100,000	$6	0.0%	$2.28	—	*W EXP 10/22/202	17253J114
—	EVO ACQUISITION CORP	50,000	$3	0.0%	$0.62	—	*W EXP 01/04/202	30052G116
—	CHURCHILL CAPITAL CORP VI	40,000	$2	0.0%	$1.40	—	*W EXP 02/17/202	17143W119
AEAEW	ALTENERGY ACQUISITION CORP	22,500	$2	0.0%	$0.58	—	*W EXP 10/29/202	02157M116
—	LUMIRADX LTD	27,500	$2	0.0%	$1.16	—	*W EXP 09/28/202	G5709L117
—	SKYDECK ACQUISITION CORP	45,900	$1	0.0%	$0.74	—	*W EXP 05/13/202	G82220115
—	TZP STRATEGIES ACQUISTN CORP	35,000	$1	0.0%	$0.60	—	*W EXP 01/06/202	G91595119
—	SILVER SPIKE ACQUISITN CORP	27,500	$1	0.0%	$1.35	—	*W EXP 02/26/202	G8201H113
—	EDIFY ACQUISITION CORP	15,000	$0	0.0%	$0.53	—	*W EXP 11/25/202	28059Q111