Covalent Partners is an investment fund managing more than $6.4 billion ran by Gail Mattera. There are currently 6 companies in Mrs. Mattera’s portfolio. The largest investments include Cinemark Inc and Vivid Seats Inc, together worth $4.21 billion.
As of 7th August 2024, Covalent Partners’s top holding is 135,000 shares of Cinemark Inc currently worth over $2.92 billion and making up 45.6% of the portfolio value.
Relative to the number of outstanding shares of Cinemark Inc, Covalent Partners owns more than approximately 0.1% of the company.
In addition, the fund holds 225,000 shares of Vivid Seats Inc worth $1.29 billion.
The third-largest holding is California Res Corp worth $1.01 billion and the next is Noble Corp Plc worth $756 million, with 16,931 shares owned.
Currently, Covalent Partners's portfolio is worth at least $6.4 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
The Covalent Partners office and employees reside in Concord, Massachusetts. According to the last 13-F report filed with the SEC, Gail Mattera serves as the Chief Compliance Officer at Covalent Partners.
In the most recent 13F filing, Covalent Partners revealed that it had opened a new position in
Alta Equipment Inc and bought 50,000 shares worth $402 million.
This means they effectively own approximately 0.1% of the company.
Alta Equipment Inc makes up
100.0%
of the fund's Industrials sector allocation and has decreased its share price by 61.3% in the past year.
The investment fund also strengthened its position in Cinemark Inc by buying
10,000 additional shares.
This makes their stake in Cinemark Inc total 135,000 shares worth $2.92 billion.
Cinemark Inc soared 53.9% in the past year.
On the other hand, there are companies that Covalent Partners is getting rid of from its portfolio.
Covalent Partners closed its position in Permian Resources Corp on 14th August 2024.
It sold the previously owned 100,000 shares for $1.77 billion.
The two most similar investment funds to Covalent Partners are Milliman Risk Management and Ahl Partners LL.P.. They manage $6.4 billion and $6.39 billion respectively.
Covalent Partners’s portfolio is diversified across 4 sectors.
Currently, their heaviest sector is Communication Services — making up 45.6% of
the total portfolio value.
The fund focuses on investments in the United States as
50.0% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
approximately 0.1% of the total holdings value.
On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $1.25 billion.
These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Cinemark Holdings Inc |
8.00%
135,000
|
$2,918,700,000 | 45.61% |
| Permian Resources Corp |
Closed
100,000
|
$1,766,000,000 | |
| DMC Global Inc |
Closed
72,000
|
$1,403,280,000 | |
| Vivid Seats Inc |
125.00%
225,000
|
$1,293,750,000 | 20.22% |
| California Res Corp |
No change
18,974
|
$1,009,796,000 | 15.78% |
| Noble Corp Plc |
278.35%
16,931
|
$755,969,000 | 11.81% |
| Alta Equipment Group Inc |
Opened
50,000
|
$402,000,000 | 6.28% |
| Pro-dex Inc Colo |
Closed
14,053
|
$247,333,000 | |
| Surf Air Mobility Inc |
Closed
250,000
|
$210,750,000 | |
| Nine Energy Service Inc |
Closed
10,000
|
$22,400,000 | |
| Th International Limited |
No change
26,208
|
$19,614,000 | 0.31% |
| No transactions found | |||
| Showing first 500 out of 11 holdings | |||