SEC 13F Intelligence

Managers / Q1 2019 · view latest →

Covalent Partners LLC

CIK 0001531611 · 30 MONUMENT SQUARE, SUITE 250, CONCORD, MA, 01742 · 617-658-5508

Reported Value
$52M
Q1 2019
Positions
20
Filings on Record
31
2019–present window
Filed
May 15, 2019
original filing

Summary

Covalent Partners LLC reported $52M in U.S.-listed holdings across 20 positions for Q1 2019.

Its largest position, GLPI, represents 19.0% of the portfolio.

Compared with Q4 2018, the fund opened 3 new positions and exited 8.

Portfolio Metrics

Turnover
+14.2%
vs prior filed quarter
Top-10 Concentration
+89.9%
share of reported value
Largest Position
+19.0%
Gaming Leisure Pptys
New / Exited
3 / 8
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $62MQ4 ’18Q1 ’19: $52MQ2 ’19: $52MQ3 ’19: $36MQ4 ’19: $35MQ4 ’19Q1 ’20: $24MQ2 ’20: $15MQ3 ’20: $23MQ4 ’20: $36MQ4 ’20Q1 ’21: $57MQ2 ’21: $114MQ3 ’21: $60MQ4 ’21: $118MQ4 ’21Q1 ’22: $118MQ2 ’22: $80MQ3 ’22: $70MQ4 ’22: $88MQ4 ’22Q1 ’23: $45MQ2 ’23: $28MQ3 ’23: $31MQ4 ’23: $23MQ4 ’23Q1 ’24: $13MQ2 ’24: $7MQ3 ’24: $12MQ4 ’24: $27MQ4 ’24Q1 ’25: $20MQ2 ’25: $42MQ3 ’25: $27MQ4 ’25: $23MQ4 ’25Q1 ’26: $18Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 60.5%REIT: 19.0%Other: 19.0%ETP: 1.4%
  • Common Stock · 60.5% · $32M
  • REIT · 19.0% · $10M
  • Other · 19.0% · $10M
  • ETP · 1.4% · $753,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2018 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VANECK VECTORS ETF TRNEW+2.53M2.53M+$531,000$531,000
EP ENERGY CORPNEW+395.5K395.5K+$103,000$103,000
CALIFORNIA RES CORPNEW+70.0K70.0K+$82,000$82,000
AGCOAGCO CORPSOLD OUT−59.7K0−$3M$0
LGIHLGI HOMES INCSOLD OUT−58.5K0−$3M$0
SEISOLARIS OILFIELD INFRSTR INCSOLD OUT−214.8K0−$3M$0
DHID R HORTON INCSOLD OUT−61.5K0−$2M$0
C&J ENERGY SVCS INC NEWSOLD OUT−137.9K0−$2M$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2019

15 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1GLPIGAMING & LEISURE PPTYS INChistory →COM19.03%$10M259.0K
2HALHALLIBURTON COhistory →COM13.01%$7M233.0K
3PIONEER NAT RES COCOM12.55%$7M43.3K
4KEANE GROUP INCCOM11.16%$6M538.0K
5PTENPATTERSON UTI ENERGY INChistory →COM9.08%$5M340.1K
6PUMPPROPETRO HLDG CORPhistory →COM6.92%$4M161.1K
7UNIVERSAL FST PRODS INCCOM5.70%$3M100.1K
8BRSLINTERNATIONAL GAME TECHNOLOGhistory →SHS USD5.51%$3M222.5K
9NABORS INDUSTRIES LTDSHS3.65%$2M556.5K
10SUPERIOR ENERGY SVCS INCCOM3.26%$2M366.5K
11LENLENNAR CORPhistory →CL A3.12%$2M33.4K
12CENTENNIAL RESOURCE DEV INCCL A3.05%$2M182.1K
13NEXTNEXTDECADE CORPhistory →COM1.22%$640,000115.9K
14WEATHERFORD INTL PLCORD SHS0.71%$373,000535.0K
15EP ENERGY CORPCL A0.20%$103,000395.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$18M16May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$23M12Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$27M18Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$42M11Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$20M15May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$27M17Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$12M11Nov 15, 2024RESTATEMENTchanges · EDGAR ↗
Q2 2024$7M10Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$13M17May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$23M24Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$31M25Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$28M25Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$45M27May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$88M33Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$70M48Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$80M49Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$118M59May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$118M64Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$60M54Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$114M59Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$57M47May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$36M22Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$23M16Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$15M16Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$24M24May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$35M18Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$36M16Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$52M24Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$52M20May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$62M25Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.