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Covalent Partners LLC
Hedge Fund • Value
Covalent Partners LLC is a Value-focused Hedge Fund based in Concord, MA led by William Duncan Benjes, reporting $121.0M in AUM as of Q3 2025 with 39% Communication Services concentration, 97% concentrated in top 10 holdings, and 18% allocation to MCS.
Managing PartnerWilliam Duncan Benjes
- Portfolio Value
- $14.1M
- Positions
- 12
- Top Holding
- MCS at 18.36%
- Last Reported
- Q3 2025
Top Holdings
Largest long holdings in Covalent Partners LLC's portfolio (96.9% of total portfolio)
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| Holding | Sector | Position | Weight | Traded | Ownership |
|---|---|---|---|---|---|
Entertainment Communication Services | $2.6M | 18.36% | — | 0.53% 167.0K shares | |
Entertainment Communication Services | $2.4M | 17.28% | +$280.2K Bought | 0.08% 87.0K shares | |
Paper, Lumber & Forest Products Basic Materials | $1.7M | 12.26% | +$1.7M Bought | 0.03% 18.5K shares | |
Construction Industrials | $1.7M | 12.02% | +$1.7M New | 0.09% 27.0K shares | |
Gambling, Resorts & Casinos Consumer Cyclical | $1.4M | 10.24% | +$1.4M Bought | 0.05% 75.0K shares | |
Banks - Regional Financial Services | $1.0M | 7.31% | +$1.0M New | 0.27% 45.7K shares | |
Oil & Gas Exploration & Production Energy | $1.0M | 7.15% | — | 0.02% 19.0K shares | |
Gambling, Resorts & Casinos Consumer Cyclical | $675.6K | 4.79% | +$675.6K New | — 25.0K shares | |
Banks - Regional Financial Services | $607.5K | 4.31% | +$607.5K New | 0.50% 40.3K shares | |
Biotechnology Healthcare | $449.8K | 3.19% | +$449.8K New | 0.00% 800.0 shares |
Changes
Portfolio activity, position movements, and quarter-over-quarter changes in Covalent Partners LLC's latest filing
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Market Value
Q/Q Change
Net Flows % of MV
Turnover Ratio
New Purchases
Added To
Sold Out Of
Reduced Holdings
Increased Positions
| Position | Shares Δ |
|---|---|
New | |
New | |
New | |
New | |
New |
Decreased Positions
| Position | Shares Δ |
|---|---|
-69.14% |
Analytics
Portfolio insights and performance metrics for Covalent Partners LLC
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