SEC 13F Intelligence

Managers / Q3 2019 · view latest →

Covalent Partners LLC

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

Reported Value
$36M
Q3 2019
Positions
16
Filings on Record
30
2019–present window
Filed
Nov 14, 2019
original filing

Summary

Covalent Partners LLC reported $36M in U.S.-listed holdings across 16 positions for Q3 2019.

The portfolio is heavily concentrated: Keane alone accounts for 20.5% of reported value.

Compared with Q2 2019, the fund opened 1 new position and exited 9.

Portfolio Metrics

Turnover
+8.8%
vs prior filed quarter
Top-10 Concentration
+95.6%
share of reported value
Largest Position
+20.5%
Keane
New / Exited
1 / 9
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
Q1 ’19: $52MQ1 ’19Q2 ’19: $52MQ3 ’19: $36MQ4 ’19: $35MQ1 ’20: $24MQ1 ’20Q2 ’20: $15MQ3 ’20: $23MQ4 ’20: $36MQ1 ’21: $57MQ1 ’21Q2 ’21: $114MQ3 ’21: $60MQ4 ’21: $118MQ1 ’22: $118MQ1 ’22Q2 ’22: $80MQ3 ’22: $70MQ4 ’22: $88MQ1 ’23: $45MQ1 ’23Q2 ’23: $28MQ3 ’23: $31MQ4 ’23: $23MQ1 ’24: $13MQ1 ’24Q2 ’24: $7MQ3 ’24: $12MQ4 ’24: $27MQ1 ’25: $20MQ1 ’25Q2 ’25: $42MQ3 ’25: $27MQ4 ’25: $23MQ1 ’26: $18MQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 34.5%US DOMESTIC: 29.0%Other: 23.5%REIT: 12.6%ETP: 0.4%
  • Common Stock · 34.5% · $13M
  • US DOMESTIC · 29.0% · $11M
  • Other · 23.5% · $9M
  • REIT · 12.6% · $5M
  • ETP · 0.4% · $162,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
WORKDAY INCNEW+1.00M1.00M+$1M$1M
HALHALLIBURTON COSOLD OUT−134.0K0−$3M$0
PUMPPROPETRO HLDG CORPSOLD OUT−122.3K0−$3M$0
PTENPATTERSON UTI ENERGY INCSOLD OUT−214.1K0−$2M$0
NINEQNINE ENERGY SVC INCSOLD OUT−138.3K0−$2M$0
HPHELMERICH & PAYNE INCSOLD OUT−10.0K0−$506,000$0
SPYSPDR S&P 500 ETF TRSOLD OUT−189.0K0−$346,000$0
SUPERIOR ENERGY SVCS INCSOLD OUT−204.7K0−$266,000$0

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

Holdings — Q3 2019

13 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1KEANE GROUP INCCOM20.54%$7M1.23M
2PIONEER NAT RES COCOM13.84%$5M40.0K
3GLPIGAMING & LEISURE PPTYS INChistory →COM12.57%$5M119.6K
4Q2 HLDGS INCNOTE 0.750% 2/112.08%$4M3.00M
5RINGCENTRAL INCNOTE 3/18.87%$3M2.00M
6BRSLINTERNATIONAL GAME TECHNOLOGhistory →SHS USD8.47%$3M216.7K
7CORNERSTONE BLDG BRANDS INCCOM8.32%$3M500.0K
8LENDINGTREE INC NEWNOTE 0.625% 6/04.41%$2M1.00M
9WORKDAY INCNOTE 0.250% 10/03.61%$1M1.00M
10CENTENNIAL RESOURCE DEV INCCL A2.88%$1M232.1K
11NOBLE CORP PLCSHS USD1.08%$394,000309.9K
12NEXTNEXTDECADE CORPhistory →COM1.03%$374,00065.0K
13NABORS INDUSTRIES LTDSHS0.97%$351,000187.7K

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 ↗

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 ↗.