WhaleCreep

Cove Street Capital 13F holdings, Q3 2013

Long-only investorSEC filingsCompare with another fundHoldings as of 2013-09-30, filed 2013-11-19

Cove Street Capital disclosed 68 US equity positions worth $491.8m in its Q3 2013 13F filing. Its largest position is SPX CORP at 5.9% of the reported book, followed by AREXQ and The Washington Post Co. Versus Q2 2013 it opened 6 new positions, added to 21, reduced 29 and exited 7.

$492m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
68
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.9%
Largest position
The largest single position as a share of the reported equity book.
36.5%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
41
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
56
Quarters on file since Q3 2011
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q2 2013: 6 new, 21 added, 29 reduced, 7 exited

50 of 68
SPX CORP no ticker–5.9%$28.9m341,115+2.1%added
AREXQ APPROACH RESOURCES INC–5.7%$28.0m1.06m+14%added
The Washington Post Co no ticker–4.4%$21.6m35,280+38%added
FOR FORESTAR GROUP INCReal Estate4.0%$19.6m910,005+96%added
WHITE MTNS INS GROUP LTD no ticker–3.9%$19.2m33,795+2.1%added
NEUSTAR INC no ticker–2.8%$13.9m280,277−8.2%reduced
CLGX CORELOGIC INC–2.6%$13.0m479,815−9.3%reduced
GRAFTECH INTL LTD no ticker–2.5%$12.3m1.46m+3.2%added
AIG American International GroupFinancial Services2.4%$11.7m240,195−2.9%reduced
COF CAPITAL ONE FINL CORPFinancial Services2.3%$11.4m165,185−6.8%reduced
REMY INTL INC no ticker–2.3%$11.3m556,569−0.4%held
LIBERTY INTERACTIVE CORP no ticker–2.3%$11.1m474,045+4.2%added
L LOEWS CORPFinancial Services2.2%$11.0m235,180+1.0%added
YUSD ALLEGHANY CORP DEL–2.2%$10.9m26,656−0.5%held
GLOBAL CASH ACCESS HLDGS INC no ticker–2.2%$10.6m1.36m−7.4%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–2.2%$10.6m588,559+78%added
PMC-SIERRA INC no ticker–2.1%$10.5m1.59m−14%reduced
JPM JPMORGAN CHASE & COFinancial Services2.1%$10.1m195,073−3.3%reduced
LYV LIVE NATION ENTERTAINMENT INCommunication Services1.8%$8.7m471,617−3.6%reduced
VERIFONE SYS INC no ticker–1.8%$8.6m377,825−40%reduced
AZZ AZZ INCIndustrials1.6%$7.8m187,040–new
ORIENT-EXPRESS HOTELS LTD no ticker–1.5%$7.5m577,917−0.1%held
AVID TECHNOLOGY INC no ticker–1.5%$7.5m1.25m+32%added
EMERALD OIL INC no ticker–1.5%$7.5m1.04m–new
FICO FAIR ISAAC CORPTechnology1.5%$7.4m134,1480.0%held
CROSSTEX ENERGY INC no ticker–1.5%$7.2m346,882−38%reduced
GSI GROUP INC CDA NEW no ticker–1.4%$7.1m741,389−7.5%reduced
CHEROKEE INC DEL NEW no ticker–1.4%$7.0m538,748+12%added
SYMETRA FINL CORP no ticker–1.4%$6.9m387,819−17%reduced
TFX TELEFLEX INCORPORATEDHealthcare1.4%$6.8m83,233+4.8%added
WESTELL TECHNOLOGIES INC no ticker–1.4%$6.8m2.04m−8.6%reduced
GPX GP STRATEGIES CORP–1.4%$6.7m255,807+0.2%held
BARRY R G CORP OHIO no ticker–1.3%$6.6m350,005−3.1%reduced
HALLUSD HALLMARK FINL SVCS INC–1.3%$6.6m745,947+6.1%added
HSN INC no ticker–1.3%$6.5m121,395+5.0%added
HARMAN INTL INDS INC no ticker–1.3%$6.4m96,213−30%reduced
PXDEUR PIONEER NAT RES CO–1.3%$6.2m32,895−8.0%reduced
COVIDIEN PLC no ticker–1.2%$5.9m97,5570.0%held
LIBERTY MEDIA CORP DELAWARE no ticker–1.2%$5.9m40,295−1.9%reduced
JOHNSON CTLS INC no ticker–1.2%$5.8m139,635−1.6%reduced
BNY BANK OF NY MELLON CORPFinancial Services1.2%$5.7m190,350−8.0%reduced
TEL TE CONNECTIVITY LTDTechnology1.2%$5.7m110,799−1.8%reduced
GM General Motors CorpConsumer Cyclical1.1%$5.6m156,735−6.6%reduced
BARNES & NOBLE INC no ticker–1.1%$5.4m414,095+19%added
CHKEUR CHESAPEAKE ENERGY CORP–1.1%$5.3m205,508−21%reduced
LEUCADIA NATL CORP no ticker–1.1%$5.3m193,080+2.2%added
EFX EQUIFAX INCIndustrials1.0%$4.8m79,795−1.1%reduced
GEF/B GREIF INC–0.9%$4.6m86,141+12%added
APCO OIL & GAS INTERNATIONAL no ticker–0.7%$3.6m253,485–new
Signature Group Holdings Inc no ticker–0.7%$3.5m2.92m+71%added

Exited since Q2 2013

7 rows
WU WESTERN UN CO1.6%$7.1m
COINSTAR INC no ticker1.5%$6.9m
FFBC FIRST FINL BANCORP OH1.4%$6.2m
HEWLETT PACKARD CO no ticker1.1%$4.9m
RUBY TUESDAY INC no ticker1.1%$4.8m
MIC2EUR MACQUARIE INFRASTRUCTURE COR0.1%$554k
WPC W P CAREY INC0.09%$418k

Sector mix

  • Unclassified73.6%
  • Financial Services10.5%
  • Real Estate4.0%
  • Technology3.0%
  • Industrials2.9%
  • Communication Services1.8%
  • Consumer Cyclical1.5%
  • Healthcare1.4%
  • Energy0.7%
  • Consumer Defensive0.7%

Book over time

Every quarter on file (56)
QuarterPositionsEquity book
Q3 202596$76.6m
Q2 202597$68.2m
Q1 202598$63.7m
Q4 202494$85.7m
Q3 202499$128m
Q2 202478$139m
Q1 202471$316m
Q4 202370$327m
Q3 202381$296m
Q2 202380$322m
Q1 202383$335m
Q4 202281$367m
Q3 202279$358m
Q2 202282$397m
Q1 202286$565m
Q4 202189$571m
Q3 202189$674m
Q2 202187$691m
Q1 202186$698m
Q4 202080$565m
Q3 202074$528m
Q2 202074$505m
Q1 202098$488m
Q4 2019100$756m
Q3 201995$715m
Q2 201997$775m
Q1 201997$817m
Q4 2018100$773m
Q3 201898$948m
Q2 2018102$919m
Q1 2018106$907m
Q4 2017107$927m
Q3 2017108$896m
Q2 201790$825m
Q1 201786$947m
Q4 201692$957m
Q3 201695$928m
Q2 2016103$905m
Q1 2016103$766m
Q4 2015110$759m
Q3 2015112$755m
Q2 2015108$830m
Q1 2015114$763m
Q4 2014110$671m
Q3 201492$642m
Q2 201471$618m
Q1 201466$532m
Q4 201371$539m
Q3 201368$492m
Q2 201369$455m
Q1 201353$240m
Q4 201252$215m
Q3 201252$210m
Q2 201256$214m
Q4 201156$224m
Q3 201162$195m

Where Cove Street Capital was early

69 rows
STT State Street CorpQ4 20118 of 1391.4%1.9%25Exited by Q1 2019+56%
CLGX CoreLogic IncQ2 20121 of 943.1%3.3%7Exited by Q1 2014+191%
GEF/B Greif Inc CL BQ2 20121 of 260.6%1.1%10Exited by Q4 2014+10%
AIG American International Group IncQ2 20127 of 1552.0%3.9%18Exited by Q1 2018+86%
COF Capital One Financial CorpQ2 20128 of 2273.8%4.0%27Exited by Q1 2019+38%
WU Western Union CompanyQ2 201211 of 1331.0%4.4%10Exited by Q2 2022+11%
LYV Live Nation Entertainment IncQ4 20125 of 2162.7%4.4%7Exited by Q4 2020+479%
FOR Forestar Group IncQ1 20131 of 821.6%5.5%17Exited by Q2 2017−38%
GPX GP Strategies CorporationQ2 20131 of 271.3%4.7%34Exited by Q4 2021−13%
OXY OCCIDENTAL PETE CORPQ2 20134 of 1920.3%2.0%12Exited by Q3 2025−51%
GM General Motors CompanyQ2 201311 of 1691.2%1.2%9Exited by Q3 2015+0.1%
AZZ AZZ IncQ3 20131 of 801.6%3.1%15Exited by Q3 2022−2.5%
GHC Graham HoldingsQ4 20132 of 1124.3%4.5%6Exited by Q2 2015+58%
AVD AMERICAN VANGUARD CORPQ2 20141 of 590.3%10.5%32Held at last filing, Q3 2025−57%
VSAT VIASAT INCQ2 20142 of 1261.3%11.0%46Held at last filing, Q3 2025−49%
HNRG HALLADOR ENERGY COMPANYQ3 20142 of 910.1%2.1%36Exited by Q4 2024−20%
UFPT UFP Technologies IncQ3 20142 of 590.05%3.3%34Exited by Q1 2023+436%
ANIK ANIKA THERAPEUTICS INCQ4 20141 of 580.07%1.8%10Held at last filing, Q3 2025−77%
PRKS SeaWorld Entertainment IncQ4 20145 of 1521.6%1.7%7Exited by Q3 2016−20%
SSP SCRIPPS E W CO OHIOQ4 20145 of 730.6%6.7%40Held at last filing, Q3 2025−88%
RAVN Raven Industries IncQ1 20151 of 560.2%2.3%8Exited by Q1 2017+85%
TIGO MILLICOM INTL CELLULAR S AQ1 20152 of 800.2%6.5%37Exited by Q2 2024−44%
IBM International Business MachineQ1 20159 of 1681.5%1.5%9Exited by Q2 2017+8.5%
HP5A Equity CommonwealthQ2 201512 of 1111.8%2.1%19Exited by Q1 2020+28%
FELE Franklin Electric Co IncQ3 20152 of 731.3%1.9%7Exited by Q2 2017+58%
GDEN GOLDEN ENTMT INCQ3 20152 of 890.9%1.1%10Held at last filing, Q3 2025+74%
TUP Tupperware Brands CorpQ3 20152 of 701.4%3.1%16Exited by Q3 2019−62%
FMC FMC CORPQ3 20159 of 1573.8%5.4%40Exited by Q3 2025+42%
CSW CSW Industrials IncQ4 20153 of 770.1%2.4%19Exited by Q3 2020+83%
ZBRA ZEBRA TECHNOLOGIES CORPORATIQ1 20168 of 1541.6%2.6%13Held at last filing, Q3 2025+331%
NOVT Novanta IncQ2 20161 of 992.1%2.4%7Exited by Q1 2018+230%
EVC Entravision Communications CorQ2 20163 of 650.02%1.1%3Exited by Q1 2017+4.2%
JCI Johnson Controls InternationalQ3 201612 of 1730.6%1.1%9Exited by Q4 2018−25%
TGNA TEGNA IncQ4 20163 of 1473.8%5.5%23Exited by Q3 2022−35%
CMP COMPASS MINERALS INTL INCQ4 20164 of 1032.4%6.8%36Held at last filing, Q3 2025−75%
TRNS Transcat IncQ1 20172 of 540.1%1.9%17Exited by Q2 2021+286%
SBH Sally Beauty Holdings IncQ1 20178 of 1122.4%2.6%5Exited by Q2 2018−20%
NEU NEWMARKET CORPQ3 20171 of 860.05%3.2%20Held at last filing, Q3 2025+95%
DLHC DLH HLDGS CORPQ3 20172 of 240.1%3.8%29Exited by Q4 2024+44%
GE General Electric CompanyQ3 201723 of 2421.0%1.0%12Exited by Q3 2020−71%
LILAB Liberty Latin America CL AQ4 20173 of 1011.2%1.2%6Exited by Q2 2019−3.2%
QVCG Qurate Retail IncQ1 20181 of 1161.0%2.3%8Exited by Q1 2020−67%
AYI Acuity Brands IncQ1 20185 of 1370.7%2.9%14Exited by Q3 2021+34%
DNOW NOW IncQ1 20186 of 1332.0%2.5%9Exited by Q2 2020−50%
SPB Spectrum Brands Holdings IncQ1 201810 of 1470.05%3.2%18Exited by Q3 2022−19%
HSIC Henry Schein IncQ1 201811 of 1420.6%1.4%20Exited by Q1 2023+52%
JEF Jefferies Financial Group IncQ2 20183 of 1281.1%1.1%5Exited by Q3 2019−15%
TPR TAPESTRY INCQ4 201812 of 1730.1%2.7%22Exited by Q2 2024+41%
SXI STANDEX INTL CORPQ2 20191 of 591.1%2.6%20Exited by Q2 2024+149%
VMD VIEMED HEALTHCARE INCQ3 20192 of 480.09%2.8%25Held at last filing, Q3 2025−1.9%

Concentration and tenure

6.2%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
43.0%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
4
Median completed holding, quarters