SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Covalent Partners LLC

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

Reported Value
$60M
Q3 2021
Positions
54
Filings on Record
31
2019–present window
Filed
Nov 15, 2021
original filing

Summary

Covalent Partners LLC reported $60M in U.S.-listed holdings across 54 positions for Q3 2021.

Its largest position, UFPI, represents 9.1% of the portfolio.

Compared with Q2 2021, the fund opened 6 new positions and exited 11.

Portfolio Metrics

Turnover
+7.8%
vs prior filed quarter
Top-10 Concentration
+48.3%
share of reported value
Largest Position
+9.1%
Ufp Industries
New / Exited
6 / 11
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: 58.0%Other: 29.7%ETP: 9.1%US DOMESTIC: 2.8%Equity WRT: 0.4%
  • Common Stock · 58.0% · $35M
  • Other · 29.7% · $18M
  • ETP · 9.1% · $6M
  • US DOMESTIC · 2.8% · $2M
  • Equity WRT · 0.4% · $228,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
HPHELMERICH & PAYNE INCNEW+62.5K62.5K+$2M$2M
SKYDECK ACQUISITION CORP CLASS A ORDNEW+137.7K137.7K+$1M$1M
PDEXPRO-DEX INC COLONEW+20.0K20.0K+$513,000$513,000
CIPHER MINING INCNEW+100.0K100.0K+$228,000$228,000
SKYDECK ACQUISITION CORPNEW+45.9K45.9K+$34,000$34,000
LUMIRADX LIMITEDNEW+27.5K27.5K+$32,000$32,000
IWMISHARES TR RUSSELL 2000SOLD OUT−221.5K0−$51M$0
SKYDECK ACQUISITION CORPSOLD OUT−137.7K0−$1M$0

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

Holdings — Q3 2021

41 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1UFPIUFP INDUSTRIES INChistory →COM9.14%$6M81.0K
2DHID R HORTON INChistory →COM5.72%$3M41.0K
3DALDELTA AIR LINES INC DELhistory →COM NEW5.66%$3M80.0K
4CCLCARNIVAL CORPhistory →UNIT 99/99/99994.88%$3M117.5K
5BYDBOYD GAMING CORPhistory →COM4.51%$3M43.0K
6CORNERSTONE BLDG BRANDS INCCOM4.49%$3M185.0K
7MVBFMVB FINL CORPhistory →COM3.91%$2M55.0K
8AFRICAN GOLD ACQUISITION CORSHS CL A · *W EXP 03/31/2023.38%$2M387.5K
9ATLAS CREST INVESTMENT CORPCOM CL A · *W EXP 02/03/2023.34%$2M268.3K
10CHURCHILL CAPITAL CORP VICOM CL A · *W EXP 02/17/2023.32%$2M240.0K
11BBCPCONCRETE PUMPING HLDGS INChistory →COM3.19%$2M225.0K
12THE MUSIC ACQUISITION CORPCOM CLASS A · *W EXP 02/05/2022.93%$2M262.5K
13HPHELMERICH & PAYNE INChistory →COM2.84%$2M62.5K
14WORKDAY INCNOTE 0.250%10/02.84%$2M1.00M
15NEXTIER OILFIELD SOLUTIONSCOM2.66%$2M348.1K
16B RILEY PRINCIPAL 150 MERGERCOM CL A · *W EXP 03/01/2022.51%$2M217.0K
17COVA ACQUISITION CORP CL ASHS · *W EXP 02/05/2022.50%$2M225.0K
18HOWARD HUGHES CORPCOM2.33%$1M16.0K
19SKYDECK ACQUISITION CORP CLASS A ORDSHS2.21%$1M137.7K
20SILVER SPIKE ACQUISITN CORP CLASS A ORDSHS1.79%$1M110.0K
21TZP STRATEGIES ACQUISTN CORP CL ASHS · *W EXP 01/06/2021.74%$1M140.0K
22EVO ACQUISITION CORPCOM CL A · *W EXP 01/04/2021.65%$997,000150.0K
23CRCCALIFORNIA RES CORPhistory →COM STOCK1.29%$778,00019.0K
24SILVER CREST ACQUISITION COR CL ASHS · *W EXP 12/15/2021.26%$761,000180.0K
25MONUMENT CIRCLE ACQUISITN COCOM CL A · *W EXP 01/14/2021.25%$753,000112.5K
26CENTENNIAL RESOURCE DEV INCCL A1.11%$670,000100.0K
27PDEXPRO-DEX INC COLOCOM NEW0.85%$513,00020.0K
28ITHAX ACQUISITION CORP CL ASHS · *W EXP 02/01/2020.84%$504,00075.0K
29CIPHER MINING INC*W EXP 10/22/2020.38%$228,000100.0K
30BROADSTONE ACQUISITION CORP*W EXP 09/15/2020.29%$177,000164.1K
31MONTES ARCHIMEDES ACQUISITIO*W EXP 99/99/9990.25%$149,000100.0K
32NOBLE CORP NEWSHS0.20%$121,0004.5K
33COINCOINBASE GLOBAL INCCOM CL A0.15%$91,000400
34SKYDECK ACQUISITION CORP*W EXP 05/13/2020.06%$34,00045.9K
35LUMIRADX LIMITED*W EXP 09/28/2020.05%$32,00027.5K
36SILVER SPIKE ACQUISITN CORP*W EXP 02/26/2020.05%$30,00027.5K
37NOVUS CAPITAL CORPORATION II*W EXP 02/02/2020.02%$11,00010.0K
38FTAC ATHENA ACQUISITION CORP CL A*W EXP 03/01/2020.01%$9,0006.7K
39EDIFY ACQUISITION CORP*W EXP 11/25/2020.01%$9,00015.0K
40FUSION ACQUISITION CORP II*W EXP 02/29/2020.00%$3,0004.0K
41CF ACQUISITION CORP VI*W EXP 02/18/2020.00%$2,0002.5K

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 ↗.