SEC 13F Intelligence

Managers / Q4 2019 · view latest →

Covalent Partners LLC

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

Reported Value
$35M
Q4 2019
Positions
18
Filings on Record
31
2019–present window
Filed
Feb 14, 2020
original filing

Summary

Covalent Partners LLC reported $35M in U.S.-listed holdings across 18 positions for Q4 2019.

Its largest position, Nextier Oilfield Solutions I, represents 15.0% of the portfolio.

Compared with Q3 2019, the fund opened 5 new positions and exited 3.

Portfolio Metrics

Turnover
+28.0%
vs prior filed quarter
Top-10 Concentration
+86.4%
share of reported value
Largest Position
+15.0%
Nextier Oilfield Solutions I
New / Exited
5 / 3
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: 48.9%US DOMESTIC: 31.4%REIT: 13.0%Other: 6.6%ETP: 0.0%
  • Common Stock · 48.9% · $17M
  • US DOMESTIC · 31.4% · $11M
  • REIT · 13.0% · $5M
  • Other · 6.6% · $2M
  • ETP · 0.0% · $8,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NEXTIER OILFIELD SOLUTIONS INEW+785.0K785.0K+$5M$5M
TESLA INCNEW+1.00M1.00M+$2M$2M
PUMPPROPETRO HLDG CORPNEW+130.0K130.0K+$1M$1M
SUPERIOR ENERGY SVCS INCNEW+275.0K275.0K+$1M$1M
ISHARES TRNEW+107.7K107.7K+$8,000$8,000
KEANE GROUP INCSOLD OUT−1.23M0−$7M$0
UNITED STATES OIL FUND LPSOLD OUT−820.0K0−$325,000$0
VANECK VECTORS ETF TRSOLD OUT−855.0K0−$162,000$0

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

Holdings — Q4 2019

16 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NEXTIER OILFIELD SOLUTIONS ICOM15.04%$5M785.0K
2GLPIGAMING & LEISURE PPTYS INChistory →COM13.05%$5M106.0K
3PIONEER NAT RES COCOM12.99%$5M30.0K
4Q2 HLDGS INCNOTE 0.750% 2/112.98%$5M3.00M
5CORNERSTONE BLDG BRANDS INCCOM7.30%$3M300.0K
6BRSLINTERNATIONAL GAME TECHNOLOGhistory →SHS USD6.04%$2M141.0K
7RINGCENTRAL INCNOTE 3/16.00%$2M1.00M
8LENDINGTREE INC NEWNOTE 0.625% 6/04.47%$2M1.00M
9TESLA INCNOTE 2.000% 5/14.32%$2M1.00M
10PUMPPROPETRO HLDG CORPhistory →COM4.18%$1M130.0K
11SUPERIOR ENERGY SVCS INCCOM NEW3.94%$1M275.0K
12WORKDAY INCNOTE 0.250% 10/03.65%$1M1.00M
13CENTENNIAL RESOURCE DEV INCCL A3.07%$1M232.1K
14NABORS INDUSTRIES LTDSHS1.55%$541,000187.7K
15NOBLE CORP PLCSHS USD1.08%$378,000309.9K
16NEXTNEXTDECADE CORPCOM0.32%$111,00018.0K

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 ↗.