Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q4 2024 (← Previous) (Next →)

Filing Date: Feb 14, 2025

Total Value ($000): $27,318 (87.2% shares, 12.8% debt)

Holdings (17)

IWM ISHARES TR 44.5%

Value ($000) $12,153 Shares 55,000 Est. Cost — Unrealized —

CNK CINEMARK HLDGS INC 7.9%

Value ($000) $2,169 Shares 70,000 Est. Cost $16.18 Unrealized +88.9%

— EPR PPTYS 7.3%

Value ($000) $1,988 Shares 95,562 Est. Cost $20.80 Unrealized —

MCS MARCUS CORP DEL 6.3%

Value ($000) $1,720 Shares 80,000 Est. Cost $19.83 Unrealized 0.0%

— INTEGER HLDGS CORP 5.8%

Value ($000) $1,598 Shares 1,000,000 Est. Cost $1.58 Unrealized —

— VIVID SEATS INC 5.1%

Value ($000) $1,389 Shares 300,000 Est. Cost $4.99 Unrealized —

— LIVE NATION ENTERTAINMENT IN 4.5%

Value ($000) $1,227 Shares 1,000,000 Est. Cost $1.08 Unrealized —

CRC CALIFORNIA RES CORP 3.6%

Value ($000) $985 Shares 18,974 Est. Cost $16.48 Unrealized +216.9%

ALTG ALTA EQUIPMENT GROUP INC 2.9%

Value ($000) $785 Shares 120,000 Est. Cost — Unrealized —

LGIH LGI HOMES INC 2.7%

Value ($000) $733 Shares 8,200 Est. Cost $105.43 Unrealized -0.4%

— SPHERE ENTERTAINMENT CO 2.5%

Value ($000) $682 Shares 500,000 Est. Cost $1.36 Unrealized —

EPR EPR PPTYS 2.0%

Value ($000) $554 Shares 12,500 Est. Cost $44.28 Unrealized —

— EPR PPTYS 2.0%

Value ($000) $545 Shares 20,000 Est. Cost $27.23 Unrealized —

NE NOBLE CORP PLC 1.9%

Value ($000) $532 Shares 16,931 Est. Cost $39.02 Unrealized -22.1%

AMC AMC ENTMT HLDGS INC 0.9%

Value ($000) $239 Shares 60,000 Est. Cost $4.39 Unrealized 0.0%

— TH INTERNATIONAL LIMITED 0.1%

Value ($000) $19 Shares 26,208 Est. Cost $2.87 Unrealized —

ECXWW ECARX HOLDINGS INC 0.0%

Value ($000) $4 Shares 75,000 Est. Cost $0.10 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IWM	ISHARES TR	55,000	$12,153	44.5%	—	—	Call	464287655
CNK	CINEMARK HLDGS INC	70,000	$2,169	7.9%	$16.18	+88.9%	COM	17243V102
—	EPR PPTYS	95,562	$1,988	7.3%	$20.80	—	PFD C CV 5.75%	26884U208
MCS	MARCUS CORP DEL	80,000	$1,720	6.3%	$19.83	0.0%	COM	566330106
—	INTEGER HLDGS CORP	1,000,000	$1,598	5.8%	$1.58	—	NOTE 2.125% 2/1	45826HAB5
—	VIVID SEATS INC	300,000	$1,389	5.1%	$4.99	—	COM CL A	92854T100
—	LIVE NATION ENTERTAINMENT IN	1,000,000	$1,227	4.5%	$1.08	—	NOTE 2.000% 2/1	538034AU3
CRC	CALIFORNIA RES CORP	18,974	$985	3.6%	$16.48	+216.9%	COM STOCK	13057Q305
ALTG	ALTA EQUIPMENT GROUP INC	120,000	$785	2.9%	—	—	Put	02128L106
LGIH	LGI HOMES INC	8,200	$733	2.7%	$105.43	-0.4%	COM	50187T106
—	SPHERE ENTERTAINMENT CO	500,000	$682	2.5%	$1.36	—	NOTE 3.500%12/0 ADDED	55826TAB8
EPR	EPR PPTYS	12,500	$554	2.0%	$44.28	—	COM SH BEN INT	26884U109
—	EPR PPTYS	20,000	$545	2.0%	$27.23	—	CONV PFD 9% SR E	26884U307
NE	NOBLE CORP PLC	16,931	$532	1.9%	$39.02	-22.1%	ORD SHS A	G65431127
AMC	AMC ENTMT HLDGS INC	60,000	$239	0.9%	$4.39	0.0%	CL A NEW	00165C302
—	TH INTERNATIONAL LIMITED	26,208	$19	0.1%	$2.87	—	ORDINARY SHARES	G8656L106
ECXWW	ECARX HOLDINGS INC	75,000	$4	0.0%	$0.10	—	*W EXP 99/99/999	G29201111