SEC 13F Intelligence

Managers / Q3 2024 · view latest →

Covalent Partners LLC

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

Reported Value
$12M
Q3 2024
Positions
11
Filings on Record
30
2019–present window
Filed
Nov 15, 2024
amendment (RESTATEMENT)

Summary

Covalent Partners LLC reported $12M in U.S.-listed holdings across 11 positions for Q3 2024.

The portfolio is heavily concentrated: LGIH alone accounts for 22.5% of reported value.

Compared with Q2 2024, the fund opened 3 new positions and exited 2.

Portfolio Metrics

Turnover
+22.7%
vs prior filed quarter
Top-10 Concentration
+100.0%
share of reported value
Largest Position
+22.5%
Lgi Homes
New / Exited
3 / 2
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: 56.3%US DOMESTIC: 31.7%Other: 12.0%Equity WRT: 0.0%
  • Common Stock · 56.3% · $7M
  • US DOMESTIC · 31.7% · $4M
  • Other · 12.0% · $1M
  • Equity WRT · 0.0% · $252

Quarter-over-Quarter Changes full breakdown →

vs Q2 2024 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LGIHLGI HOMES INCNEW+22.4K22.4K+$3M$3M
LIVE NATION ENTERTAINMENT INNEW+2.00M2.00M+$2M$2M
INTEGER HLDGS CORPNEW+1.00M1.00M+$2M$2M
PETIQ INCSOLD OUT−1.00M0−$1M$0
ALTGALTA EQUIPMENT GROUP INCSOLD OUT−50.0K0−$402,000$0
VIVID SEATS INCADDED+150.0K375.0K+$93,750$1M
CNKCINEMARK HLDGS INCTRIMMED−50.0K85.0K−$552,300$2M
NENOBLE CORP PLCHELD+016.9K−$144,083$611,886

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

Holdings — Q3 2024

11 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1LGIHLGI HOMES INChistory →COM22.53%$3M22.4K
2CNKCINEMARK HLDGS INChistory →COM20.08%$2M85.0K
3LIVE NATION ENTERTAINMENT INNOTE 2.000% 2/118.36%$2M2.00M
4INTEGER HLDGS CORPNOTE 2.125% 2/113.38%$2M1.00M
5VIVID SEATS INCCOM CL A11.78%$1M375.0K
6CRCCALIFORNIA RES CORPhistory →COM STOCK8.45%$995,56619.0K
7NENOBLE CORP PLChistory →ORD SHS A5.19%$611,88616.9K
8TH INTERNATIONAL LIMITEDORDINARY SHARES0.18%$21,22826.2K
9VERTICAL AEROSPACE LTD*W EXP 12/16/2020.03%$3,019164.1K
10ECARX HOLDINGS INC*W EXP 99/99/9990.01%$1,59875.0K
11AEAEWALTENERGY ACQUISITION CORP*W EXP 10/29/2020.00%$25222.5K

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 ↗

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 ↗.