SEC 13F Intelligence

Managers / Q3 2020 · view latest →

Covalent Partners LLC

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

Reported Value
$23M
Q3 2020
Positions
16
Filings on Record
30
2019–present window
Filed
Nov 16, 2020
original filing

Summary

Covalent Partners LLC reported $23M in U.S.-listed holdings across 16 positions for Q3 2020.

The portfolio is heavily concentrated: Q2 alone accounts for 22.4% of reported value.

Compared with Q2 2020, the fund opened 6 new positions and exited 6.

Portfolio Metrics

Turnover
+14.2%
vs prior filed quarter
Top-10 Concentration
+95.9%
share of reported value
Largest Position
+22.4%
Q2
New / Exited
6 / 6
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
Other: 40.9%US DOMESTIC: 36.0%Common Stock: 22.3%ETP: 0.8%
  • Other · 40.9% · $9M
  • US DOMESTIC · 36.0% · $8M
  • Common Stock · 22.3% · $5M
  • ETP · 0.8% · $179,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BROADSTONE ACQUISITION CORPNEW+328.1K328.1K+$3M$3M
STARBOARD VALUE ACQUISITN CONEW+300.6K300.6K+$3M$3M
CHURCHILL CAPITAL CORP IVNEW+200.0K200.0K+$2M$2M
CRESCENT ACQUISITION CORPNEW+100.0K100.0K+$1M$1M
QQQINVESCO QQQ TRNEW+17.5K17.5K+$102,000$102,000
EEMISHARES TRNEW+180.0K180.0K+$22,000$22,000
GLPIGAMING & LEISURE PPTYS INCSOLD OUT−21.6K0−$748,000$0
HALHALLIBURTON COSOLD OUT−445.0K0−$138,000$0

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

Holdings — Q3 2020

12 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1Q2 HLDGS INCNOTE 0.750% 2/122.37%$5M3.00M
2BROADSTONE ACQUISITION CORPUNIT 99/99/999914.43%$3M328.1K
3STARBOARD VALUE ACQUISITN COUNIT 09/10/202513.39%$3M300.6K
4CHURCHILL CAPITAL CORP IVCL A8.63%$2M200.0K
5DALDELTA AIR LINES INC DELhistory →COM NEW8.09%$2M60.0K
6NEXTIER OILFIELD SOLUTIONSCOM7.14%$2M874.8K
7LENDINGTREE INC NEWNOTE 0.625% 6/06.90%$2M1.00M
8WORKDAY INCNOTE 0.250% 10/06.78%$2M1.00M
9CRESCENT ACQUISITION CORPCOM CL A4.43%$1M100.0K
10CORNERSTONE BLDG BRANDS INCCOM3.70%$838,000105.0K
11PIONEER NAT RES COCOM1.71%$387,0004.5K
12CENTENNIAL RESOURCE DEV INCCL A0.26%$60,000100.0K

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 ↗

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 ↗.