Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q3 2023 (← Previous) (Next →)

Filing Date: Nov 14, 2023

Total Value ($000): $31,253 (79.2% shares, 20.8% debt)

Holdings (25)

IWM ISHARES TR RUSSELL 2000 ETF 38.7%

Value ($000) $12,107 Shares 68,500 Est. Cost — Unrealized —

— NCL CORP LTD 14.9%

Value ($000) $4,650 Shares 4,000,000 Est. Cost $1.31 Unrealized —

IEF ISHARES TR 7-10 YR TRSY BD 13.5%

Value ($000) $4,229 Shares 46,175 Est. Cost $98.71 Unrealized —

— NINE ENERGY SERVICE INC 5.9%

Value ($000) $1,854 Shares 2,000,000 Est. Cost $0.93 Unrealized —

CNK CINEMARK HLDGS INC 5.9%

Value ($000) $1,835 Shares 100,000 Est. Cost $16.54 Unrealized 0.0%

PR PERMIAN RESOURCES CORP 4.5%

Value ($000) $1,396 Shares 100,000 Est. Cost $6.91 Unrealized +82.1%

DAL DELTA AIR LINES INC DEL 3.6%

Value ($000) $1,110 Shares 30,000 Est. Cost $33.48 Unrealized +26.4%

CRC CALIFORNIA RES CORP 3.4%

Value ($000) $1,063 Shares 18,974 Est. Cost $16.48 Unrealized +201.2%

NE NOBLE CORP PLC 2.6%

Value ($000) $810 Shares 16,000 Est. Cost $32.38 Unrealized +37.8%

— CARROLS RESTAURANT GROUP INC 1.6%

Value ($000) $494 Shares 75,000 Est. Cost $2.23 Unrealized —

GTIM GOOD TIMES RESTAURANTS INC 1.4%

Value ($000) $438 Shares 146,924 Est. Cost $4.22 Unrealized -29.1%

PDEX PRO-DEX INC COLO 1.0%

Value ($000) $321 Shares 20,421 Est. Cost $26.17 Unrealized -34.1%

— SURF AIR MOBILITY INC 0.8%

Value ($000) $245 Shares 150,000 Est. Cost $1.63 Unrealized —

BLCO BAUSCH PLUS LOMB CORP 0.7%

Value ($000) $207 Shares 12,200 Est. Cost $15.02 Unrealized +24.5%

NE/WS NOBLE CORP PLC 0.6%

Value ($000) $201 Shares 6,228 Est. Cost $27.23 Unrealized —

NE/WS/A NOBLE CORP PLC 0.6%

Value ($000) $174 Shares 6,228 Est. Cost $24.96 Unrealized —

— TH INTERNATIONAL LIMITED 0.2%

Value ($000) $47 Shares 26,208 Est. Cost $2.87 Unrealized —

— CIPHER MINING INC 0.1%

Value ($000) $43 Shares 100,000 Est. Cost $2.28 Unrealized —

EVTWF VERTICAL AEROSPACE LTD 0.1%

Value ($000) $16 Shares 164,100 Est. Cost $0.68 Unrealized —

— CHURCHILL CAPITAL CORP VI 0.0%

Value ($000) $6 Shares 40,000 Est. Cost $1.40 Unrealized —

ECXWW ECARX HOLDINGS INC 0.0%

Value ($000) $3 Shares 75,000 Est. Cost $0.10 Unrealized —

AEAEW ALTENERGY ACQUISITION CORP 0.0%

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

— FAZE HOLDINGS INC 0.0%

Value ($000) $1 Shares 65,000 Est. Cost $0.55 Unrealized —

— LUMIRADX LTD 0.0%

Value ($000) $1 Shares 27,500 Est. Cost $1.16 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
IWM	ISHARES TR RUSSELL 2000 ETF	68,500	$12,107	38.7%	—	—	Put	464287655
—	NCL CORP LTD	4,000,000	$4,650	14.9%	$1.31	—	NOTE 5.375% 8/0	62886HAX9
IEF	ISHARES TR 7-10 YR TRSY BD	46,175	$4,229	13.5%	$98.71	—	UNIT	464287440
—	NINE ENERGY SERVICE INC	2,000,000	$1,854	5.9%	$0.93	—	DEBT 13.000%10/2 ADDED	65441VAC5
CNK	CINEMARK HLDGS INC	100,000	$1,835	5.9%	$16.54	0.0%	COM	17243V102
PR	PERMIAN RESOURCES CORP	100,000	$1,396	4.5%	$6.91	+82.1%	CLASS A COM	71424F105
DAL	DELTA AIR LINES INC DEL	30,000	$1,110	3.6%	$33.48	+26.4%	COM NEW	247361702
CRC	CALIFORNIA RES CORP	18,974	$1,063	3.4%	$16.48	+201.2%	COM STOCK	13057Q305
NE	NOBLE CORP PLC	16,000	$810	2.6%	$32.38	+37.8%	ORD SHS A	G65431127
—	CARROLS RESTAURANT GROUP INC	75,000	$494	1.6%	$2.23	—	COM	14574X104
GTIM	GOOD TIMES RESTAURANTS INC	146,924	$438	1.4%	$4.22	-29.1%	COM NEW	382140879
PDEX	PRO-DEX INC COLO	20,421	$321	1.0%	$26.17	-34.1%	COM NEW	74265M205
—	SURF AIR MOBILITY INC	150,000	$245	0.8%	$1.63	—	COM ADDED	868927104
BLCO	BAUSCH PLUS LOMB CORP	12,200	$207	0.7%	$15.02	+24.5%	COMMON SHARES	071705107
NE/WS	NOBLE CORP PLC	6,228	$201	0.6%	$27.23	—	*W EXP 02/04/202	G65431135
NE/WS/A	NOBLE CORP PLC	6,228	$174	0.6%	$24.96	—	*W EXP 02/04/202	G65431150
—	TH INTERNATIONAL LIMITED	26,208	$47	0.2%	$2.87	—	ORDINARY SHARES	G8656L106
—	CIPHER MINING INC	100,000	$43	0.1%	$2.28	—	*W EXP 10/22/202	17253J114
EVTWF	VERTICAL AEROSPACE LTD	164,100	$16	0.1%	$0.68	—	*W EXP 09/15/202	G9471C115
—	CHURCHILL CAPITAL CORP VI	40,000	$6	0.0%	$1.40	—	*W EXP 02/17/202	17143W119
ECXWW	ECARX HOLDINGS INC	75,000	$3	0.0%	$0.10	—	*W EXP 12/20/202	G29201111
AEAEW	ALTENERGY ACQUISITION CORP	22,500	$2	0.0%	$0.58	—	*W EXP 10/29/202	02157M116
—	FAZE HOLDINGS INC	65,000	$1	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
—	EDIFY ACQUISITION CORP	15,000	$0	0.0%	$0.53	—	*W EXP 11/25/202	28059Q111