Q4 2025 · 13F-HR
Covalent Partners LLCholdings as filed
Filed 2026-02-17 · accession 0001531611-26-000003
$22.6M
Reported value
12
Positions
2025-12-31
Period end
The Brief · Covalent Partners LLC · Q4 2025
AI · grounded in 13F
Covalent Partners LLC established a new position in IWM valued at $11.2M. The fund also initiated new stakes in CINEMARK HLDGS INC for $1.96M and PENN for $1.62M. Additional new positions include UFPI at $1.46M and GCBC at $1.4M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 464287655 | IWM | ISHARES TR | $11.2M | 49.5% | 45,500 | PUT | NONE |
| 17243V102 | CNK | CINEMARK HLDGS INC | $2.0M | 8.68% | 84,500 | Common | SOLE |
| 707569109 | PENN | PENN ENTERTAINMENT INC | $1.6M | 7.17% | 110,000 | Common | SOLE |
| 90278Q108 | UFPI | UFP INDUSTRIES INC | $1.5M | 6.44% | 16,000 | Common | SOLE |
| 394357107 | GCBC | GREENE CNTY BANCORP INC | $1.4M | 6.19% | 63,000 | Common | SOLE |
| 131193AE4 | CALY 2.75 05/01/26 | TOPGOLF CALLAWAY BRANDS CORP | $993,800 | 4.39% | 1,000,000 | Common | SOLE |
| 85227J106 | SRBK | SR BANCORP INC | $944,400 | 4.17% | 60,000 | Common | SOLE |
| 703343AG8 | PATK 1.75 12/01/28 | PATRICK INDS INC | $848,500 | 3.75% | 500,000 | Common | SOLE |
| 13057Q305 | CRC | CALIFORNIA RES CORP | $848,328 | 3.75% | 18,974 | Common | SOLE |
| 566330106 | MCS | MARCUS CORP DEL | $775,500 | 3.43% | 50,000 | Common | SOLE |
| 26828M106 | ECBK | ECB BANCORP INC | $573,870 | 2.54% | 33,000 | Common | SOLE |
| G29201111 | ECXWW | ECARX HOLDINGS INC | $3,383 | 0.01% | 75,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.