SEC 13F Intelligence

Managers / Q1 2021 · view latest →

Covalent Partners LLC

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

Reported Value
$57M
Q1 2021
Positions
47
Filings on Record
30
2019–present window
Filed
May 17, 2021
original filing

Summary

Covalent Partners LLC reported $57M in U.S.-listed holdings across 47 positions for Q1 2021.

Its largest position, Q2, represents 9.3% of the portfolio.

Compared with Q4 2020, the fund opened 34 new positions and exited 9.

Portfolio Metrics

Turnover
+27.9%
vs prior filed quarter
Top-10 Concentration
+55.0%
share of reported value
Largest Position
+9.3%
Q2
New / Exited
34 / 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
Other: 46.4%Common Stock: 40.8%US DOMESTIC: 12.3%ETP: 0.6%
  • Other · 46.4% · $27M
  • Common Stock · 40.8% · $23M
  • US DOMESTIC · 12.3% · $7M
  • ETP · 0.6% · $333,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MONTES ARCHIMEDES ACQUISITIONEW+300.0K300.0K+$3M$3M
ATLAS CREST INVESTMENT CORPNEW+255.0K255.0K+$3M$3M
AFRICAN GOLD ACQUISITION CORNEW+250.0K250.0K+$2M$2M
DHID R HORTON INCNEW+25.0K25.0K+$2M$2M
B RILEY PRINCIPAL 150 MERGERNEW+200.0K200.0K+$2M$2M
SILVER CREST ACQUISITION CORNEW+200.1K200.1K+$2M$2M
CHURCHILL CAPITAL CORP VINEW+180.7K180.7K+$2M$2M
THE MUSIC ACQUISITION CORPNEW+175.0K175.0K+$2M$2M

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

Holdings — Q1 2021

32 positions (from 42 filing rows — )
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1Q2 HLDGS INCNOTE 0.750% 2/19.26%$5M3.00M
2UFPIUFP INDUSTRIES INChistory →COM7.92%$5M60.0K
3CCLCARNIVAL CORPhistory →UNIT 99/99/99996.01%$3M130.0K
4BROADSTONE ACQUISITION CORPSHS CL A · *W EXP 09/15/2025.79%$3M492.3K
5MONTES ARCHIMEDES ACQUISITIOCOM CL A · *W EXP 99/99/9995.26%$3M400.0K
6DALDELTA AIR LINES INC DELhistory →COM NEW4.58%$3M54.5K
7AFRICAN GOLD ACQUISITION CORSHS CL A · *W EXP 03/31/2024.32%$2M437.5K
8CORNERSTONE BLDG BRANDS INCCOM4.15%$2M170.0K
9DHID R HORTON INChistory →COM3.88%$2M25.0K
10NEXTIER OILFIELD SOLUTIONSCOM3.86%$2M595.1K
11B RILEY PRINCIPAL 150 MERGERUNIT 99/99/99993.48%$2M200.0K
12SILVER CREST ACQUISITION CORCL A SHS · *W EXP 12/15/2023.47%$2M300.2K
13MVBFMVB FINL CORPhistory →COM3.24%$2M55.0K
14CHURCHILL CAPITAL CORP VIUNIT 99/99/99993.17%$2M180.7K
15THE MUSIC ACQUISITION CORPCOM CLASS A · *W EXP 02/05/2023.08%$2M262.5K
16WORKDAY INCNOTE 0.250% 10/03.00%$2M1.00M
17BBCPCONCRETE PUMPING HLDGS INChistory →COM2.90%$2M225.0K
18HOWARD HUGHES CORPCOM2.65%$2M16.0K
19COVA ACQUISITION CORPUNIT 04/01/20212.60%$1M150.0K
20SILVER SPIKE ACQUISITN CORPUNIT 02/26/20261.86%$1M107.2K
21TZP STRATEGIES ACQUISTN CORPCL A SHS · *W EXP 01/06/2021.81%$1M140.0K
22EVO ACQUISITION CORPUNIT 99/99/99991.73%$993,000100.0K
23MONUMENT CIRCLE ACQUISITN COCOM CL A · *W EXP 01/14/2021.29%$741,000112.5K
24CA HEALTHCARE ACQUISITION COCOM CL A · *W EXP 12/25/2020.95%$547,00082.5K
25ITHAX ACQUISITION CORPCL A SHS · *W EXP 02/01/2020.89%$509,00075.0K
26FTAC ATHENA ACQUISITION CORPUNIT 99/99/99990.87%$500,00050.0K
27CRCCALIFORNIA RES CORPCOMMON STOCK0.80%$457,00019.0K
28CENTENNIAL RESOURCE DEV INCCL A0.73%$420,000100.0K
29NOVUS CAPITAL CORPORATION IIUNIT 99/99/99990.52%$300,00030.0K
30EDIFY ACQUISITION CORPCL A · *W EXP 11/25/2020.52%$299,00045.0K
31CF ACQUISITION CORP VIUNIT 99/99/99990.17%$99,00010.0K
32FUSION ACQUISITION CORP IIUNIT 02/29/20280.17%$99,00010.0K

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 ↗.