Covalent Partners LLC Hedge Fund

CIK: 0001531611 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Aug 14, 2025

Total Value ($000): $41,600 (90.6% shares, 9.4% debt)

Holdings (11)

HYG ISHARES TR 65.9%

Value ($000) $27,421 Shares 340,000 Est. Cost — Unrealized —

MCS MARCUS CORP DEL 6.8%

Value ($000) $2,816 Shares 167,000 Est. Cost $18.72 Unrealized -9.8%

CNK CINEMARK HLDGS INC 5.6%

Value ($000) $2,324 Shares 77,000 Est. Cost $21.01 Unrealized +42.8%

— PATRICK INDS INC 5.3%

Value ($000) $2,223 Shares 1,500,000 Est. Cost $1.40 Unrealized —

— EPR PPTYS 5.2%

Value ($000) $2,143 Shares 85,562 Est. Cost $20.80 Unrealized —

AMC AMC ENTMT HLDGS INC 3.6%

Value ($000) $1,507 Shares 486,000 Est. Cost $3.17 Unrealized -6.3%

— TOPGOLF CALLAWAY BRANDS CORP 2.3%

Value ($000) $971 Shares 1,000,000 Est. Cost $0.97 Unrealized —

CRC CALIFORNIA RES CORP 2.1%

Value ($000) $867 Shares 18,974 Est. Cost $16.48 Unrealized +142.7%

— SPHERE ENTERTAINMENT CO 1.7%

Value ($000) $701 Shares 500,000 Est. Cost $1.36 Unrealized —

— EPR PPTYS 1.5%

Value ($000) $624 Shares 20,000 Est. Cost $27.23 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
HYG	ISHARES TR	340,000	$27,421	65.9%	—	—	Put	464288513
MCS	MARCUS CORP DEL	167,000	$2,816	6.8%	$18.72	-9.8%	COM	566330106
CNK	CINEMARK HLDGS INC	77,000	$2,324	5.6%	$21.01	+42.8%	COM	17243V102
—	PATRICK INDS INC	1,500,000	$2,223	5.3%	$1.40	—	NOTE 1.750%12/0	703343AG8
—	EPR PPTYS	85,562	$2,143	5.2%	$20.80	—	PFD C CV 5.75%	26884U208
AMC	AMC ENTMT HLDGS INC	486,000	$1,507	3.6%	$3.17	-6.3%	CL A NEW	00165C302
—	TOPGOLF CALLAWAY BRANDS CORP	1,000,000	$971	2.3%	$0.97	—	NOTE 2.750% 5/0	131193AE4
CRC	CALIFORNIA RES CORP	18,974	$867	2.1%	$16.48	+142.7%	COM STOCK	13057Q305
—	SPHERE ENTERTAINMENT CO	500,000	$701	1.7%	$1.36	—	NOTE 3.500%12/0	55826TAB8
—	EPR PPTYS	20,000	$624	1.5%	$27.23	—	CONV PFD 9% SR E	26884U307
ECXWW	ECARX HOLDINGS INC	75,000	$4	0.0%	$0.10	—	*W EXP 99/99/999	G29201111