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Covalent Partners LLC

Q3 2025 · Filed 2025-11-14
Market Value
$10.8B
+23.4%
Holdings
12
+5
New Purchases
7
Added To
1
Closed
0
Reduced
1
Top 10 Concentration
100.0%
Turnover
58.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
PENN 13.35% 0.00% +13.35% $1.4B
GCBC 9.54% 0.00% +9.54% $1.0B
CZR 6.24% 0.00% +6.24% $676M
SRBK 5.61% 0.00% +5.61% $608M
UFPI 0.02% 0.00% +0.02% $2M
ROCK 0.02% 0.00% +0.02% $2M
REGN 0.00% 0.00% +0.00% $450K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
EPR-PC 12.92% 24.43% -11.51% $1.4B
CRC 0.01% 9.88% -9.87% $1M
MCS 23.93% 32.09% -8.16% $2.6B
CNK 22.52% 26.49% -3.96% $2.4B
EPR-PE 5.83% 7.11% -1.28% $631M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 1 $450K 0.0%
Mid Cap 7 $6.6B 60.9%
Small Cap 3 $3.6B 33.5%
Micro Cap 1 $608M 5.6%

Portfolio Analytics

Avg Market Cap
$7.8B
Median Market Cap
$2.4B
Avg P/E
31.8
Median P/E
17.2
Avg Dividend Yield
0.02%
Avg Beta
0.98
# Stocks
12
# ETFs / Funds
0

Top Holdings (12 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 MCS 23.93% 167,000 $2.6B $15,510.00 -$225M
2 CNK 22.52% 87,000 $2.4B $28,020.00 $114M +10,000 +13.0%
3 PENN 13.35% 75,000 $1.4B $19,260.00 +75,000 NEW
4 EPR-PC 12.92% 55,000 $1.4B $25,430.00 -$745M -30,562 -35.7%
5 GCBC 9.54% 45,671 $1.0B $22,600.01 +45,671 NEW
6 CZR 6.24% 25,000 $676M $27,025.00 +25,000 NEW
7 EPR-PE 5.83% 20,000 $631M $31,560.00 $8M
8 SRBK 5.61% 40,260 $608M $15,089.99 +40,260 NEW
9 UFPI 0.02% 18,500 $2M $93.49 +18,500 NEW
10 ROCK 0.02% 27,000 $2M $62.80 +27,000 NEW
11 CRC 0.01% 18,974 $1M $53.18 -$866M
12 REGN —% 800 $450K $562.27 +800 NEW

Options Breakdown

0 Calls $0 Call Value 2 Puts $6M Put Value

Top Puts

SymbolSharesValueStatus
IWM 25,000 $6M NEW
HYG $0 SOLD

New Positions

SymbolValue% Port
PENN $1.4B 13.35%
GCBC $1.0B 9.54%
CZR $676M 6.24%
SRBK $608M 5.61%
UFPI $2M 0.02%
ROCK $2M 0.02%
REGN $450K —%
View SEC EDGAR Filings for Covalent Partners LLC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms