Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q2 2023 (← Previous) (Next →)

Filing Date: Aug 14, 2023

Total Value ($000): $27,620 (56.2% shares, 43.8% debt)

Holdings (25)

— COPA HOLDINGS SA 24.0%

Value ($000) $6,624 Shares 3,000,000 Est. Cost $1.75 Unrealized —

— NCL CORP LTD 19.8%

Value ($000) $5,480 Shares 4,000,000 Est. Cost $1.31 Unrealized —

IEF ISHARES TR 7-10 YR TRSY BD 15.3%

Value ($000) $4,216 Shares 43,639 Est. Cost $99.12 Unrealized —

DAL DELTA AIR LINES INC DEL 11.1%

Value ($000) $3,066 Shares 64,500 Est. Cost $33.48 Unrealized +7.2%

LUV SOUTHWEST AIRLS CO 9.2%

Value ($000) $2,535 Shares 70,000 Est. Cost $32.09 Unrealized -8.1%

PR PERMIAN RESOURCES CORP 4.0%

Value ($000) $1,096 Shares 100,000 Est. Cost $6.91 Unrealized +48.1%

CRC CALIFORNIA RES CORP 3.1%

Value ($000) $859 Shares 18,974 Est. Cost $16.48 Unrealized +128.0%

— BALLYS CORPORATION 2.5%

Value ($000) $700 Shares 45,000 Est. Cost $15.56 Unrealized —

NE NOBLE CORP PLC 2.4%

Value ($000) $661 Shares 16,000 Est. Cost $32.38 Unrealized +3.8%

— CARROLS RESTAURANT GROUP INC 1.8%

Value ($000) $504 Shares 100,000 Est. Cost $2.23 Unrealized —

GTIM GOOD TIMES RESTAURANTS INC 1.8%

Value ($000) $500 Shares 146,924 Est. Cost $4.22 Unrealized -32.5%

PDEX PRO-DEX INC COLO 1.4%

Value ($000) $390 Shares 20,421 Est. Cost $26.17 Unrealized -33.6%

— ROIVANT SCIENCES LTD 0.9%

Value ($000) $248 Shares 100,000 Est. Cost — Unrealized —

BLCO BAUSCH PLUS LOMB CORP 0.9%

Value ($000) $245 Shares 12,200 Est. Cost $15.02 Unrealized +20.8%

NE/WS NOBLE CORP PLC 0.6%

Value ($000) $170 Shares 6,228 Est. Cost $27.23 Unrealized —

NE/WS/A NOBLE CORP PLC 0.6%

Value ($000) $155 Shares 6,228 Est. Cost $24.96 Unrealized —

— TH INTERNATIONAL LIMITED 0.3%

Value ($000) $75 Shares 26,208 Est. Cost $2.87 Unrealized —

— CIPHER MINING INC 0.2%

Value ($000) $50 Shares 100,000 Est. Cost $2.28 Unrealized —

EVTWF VERTICAL AEROSPACE LTD 0.1%

Value ($000) $30 Shares 164,100 Est. Cost $0.68 Unrealized —

— CHURCHILL CAPITAL CORP VI 0.0%

Value ($000) $7 Shares 40,000 Est. Cost $1.40 Unrealized —

ECXWW ECARX HOLDINGS INC 0.0%

Value ($000) $6 Shares 75,000 Est. Cost $0.10 Unrealized —

— FAZE HOLDINGS INC 0.0%

Value ($000) $2 Shares 65,000 Est. Cost $0.55 Unrealized —

— LUMIRADX LTD 0.0%

Value ($000) $1 Shares 27,500 Est. Cost $1.16 Unrealized —

AEAEW ALTENERGY ACQUISITION CORP 0.0%

Value ($000) $1 Shares 22,500 Est. Cost $0.58 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
—	COPA HOLDINGS SA	3,000,000	$6,624	24.0%	$1.75	—	NOTE 4.500% 4/1	21720AAB8
—	NCL CORP LTD	4,000,000	$5,480	19.8%	$1.31	—	NOTE 5.375% 8/0	62886HAX9
IEF	ISHARES TR 7-10 YR TRSY BD	43,639	$4,216	15.3%	$99.12	—	UNIT	464287440
DAL	DELTA AIR LINES INC DEL	64,500	$3,066	11.1%	$33.48	+7.2%	COM NEW	247361702
LUV	SOUTHWEST AIRLS CO	70,000	$2,535	9.2%	$32.09	-8.1%	COM	844741108
PR	PERMIAN RESOURCES CORP	100,000	$1,096	4.0%	$6.91	+48.1%	CLASS A COM	71424F105
CRC	CALIFORNIA RES CORP	18,974	$859	3.1%	$16.48	+128.0%	COM STOCK	13057Q305
—	BALLYS CORPORATION	45,000	$700	2.5%	$15.56	—	COM	05875B106
NE	NOBLE CORP PLC	16,000	$661	2.4%	$32.38	+3.8%	ORD SHS A	G65431127
—	CARROLS RESTAURANT GROUP INC	100,000	$504	1.8%	$2.23	—	COM	14574X104
GTIM	GOOD TIMES RESTAURANTS INC	146,924	$500	1.8%	$4.22	-32.5%	COM NEW	382140879
PDEX	PRO-DEX INC COLO	20,421	$390	1.4%	$26.17	-33.6%	COM NEW	74265M205
—	ROIVANT SCIENCES LTD	100,000	$248	0.9%	—	—	*W EXP 09/30/202	G76279119
BLCO	BAUSCH PLUS LOMB CORP	12,200	$245	0.9%	$15.02	+20.8%	COMMON SHARES	071705107
NE/WS	NOBLE CORP PLC	6,228	$170	0.6%	$27.23	—	*W EXP 02/04/202 ADDED	G65431135
NE/WS/A	NOBLE CORP PLC	6,228	$155	0.6%	$24.96	—	*W EXP 02/04/202 ADDED	G65431150
—	TH INTERNATIONAL LIMITED	26,208	$75	0.3%	$2.87	—	ORDINARY SHARES	G8656L106
—	CIPHER MINING INC	100,000	$50	0.2%	$2.28	—	*W EXP 10/22/202	17253J114
EVTWF	VERTICAL AEROSPACE LTD	164,100	$30	0.1%	$0.68	—	*W EXP 09/15/202	G9471C115
—	CHURCHILL CAPITAL CORP VI	40,000	$7	0.0%	$1.40	—	*W EXP 02/17/202	17143W119
ECXWW	ECARX HOLDINGS INC	75,000	$6	0.0%	$0.10	—	*W EXP 12/20/202	G29201111
—	FAZE HOLDINGS INC	65,000	$2	0.0%	$0.55	—	*W EXP 03/01/202	31423J110
—	LUMIRADX LTD	27,500	$1	0.0%	$1.16	—	*W EXP 09/28/202	G5709L117
AEAEW	ALTENERGY ACQUISITION CORP	22,500	$1	0.0%	$0.58	—	*W EXP 10/29/202	02157M116
—	EDIFY ACQUISITION CORP	15,000	$0	0.0%	$0.53	—	*W EXP 11/25/202	28059Q111