WhaleCreep

Cove Street Capital 13F holdings, Q1 2014

Long-only investorSEC filingsCompare with another fundHoldings as of 2014-03-31, filed 2014-05-16

Cove Street Capital disclosed 66 US equity positions worth $532.1m in its Q1 2014 13F filing. Its largest position is TAMINCO CORP at 5.1% of the reported book, followed by AREXQ and CHIMERA INVT CORP. Versus Q4 2013 it opened 6 new positions, added to 29, reduced 25 and exited 11.

$532m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
66
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.1%
Largest position
The largest single position as a share of the reported equity book.
39.5%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
39
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 Q4 2013: 6 new, 29 added, 25 reduced, 11 exited

50 of 66
TAMINCO CORP no ticker–5.1%$27.3m1.30m+3.2%added
AREXQ APPROACH RESOURCES INC–5.0%$26.5m1.27m+8.9%added
CHIMERA INVT CORP no ticker–5.0%$26.5m8.65m+26%added
FOR FORESTAR GROUP INCReal Estate4.7%$24.8m1.40m+4.6%added
GHC GRAHAM HLDGS COIndustrials4.5%$23.7m33,745−3.4%reduced
WHITE MTNS INS GROUP LTD no ticker–4.4%$23.7m39,437+4.1%added
AZZ AZZ INCIndustrials3.0%$15.7m352,037+107%added
NEUSTAR INC no ticker–2.7%$14.5m447,276+34%added
PMC-SIERRA INC no ticker–2.6%$14.0m1.84m−7.9%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–2.5%$13.3m731,326+12%added
REMY INTL INC no ticker–2.5%$13.1m553,899−0.5%reduced
LIBERTY INTERACTIVE CORP no ticker–2.4%$12.9m448,570−1.3%reduced
LEUCADIA NATL CORP no ticker–2.4%$12.6m449,975+131%added
YUSD ALLEGHANY CORP DEL–2.3%$12.3m30,215+0.7%added
COF CAPITAL ONE FINL CORPFinancial Services2.3%$12.2m158,160−3.8%reduced
JPM JPMORGAN CHASE & COFinancial Services2.2%$11.8m195,073−0.8%reduced
AIG American International GroupFinancial Services2.1%$11.3m226,160−4.4%reduced
OXY OCCIDENTAL PETE CORPEnergy2.0%$10.5m109,830−0.5%held
JOHNSON CTLS INC no ticker–1.9%$10.3m216,740+59%added
AVID TECHNOLOGY INC no ticker–1.6%$8.7m1.43m+17%added
TFX TELEFLEX INCORPORATEDHealthcare1.6%$8.6m79,861−5.2%reduced
ORIENT-EXPRESS HOTELS LTD no ticker–1.6%$8.3m579,057+6.0%added
GLOBAL CASH ACCESS HLDGS INC no ticker–1.6%$8.3m1.21m+24%added
CHEROKEE INC DEL NEW no ticker–1.5%$8.2m587,223+6.8%added
FICO FAIR ISAAC CORPTechnology1.5%$8.2m147,508+9.5%added
SYMETRA FINL CORP no ticker–1.5%$8.1m407,360+4.0%added
EMERALD OIL INC no ticker–1.5%$8.1m1.20m+12%added
HSN INC no ticker–1.5%$7.9m131,539+0.7%added
GPX GP STRATEGIES CORP–1.5%$7.8m287,343+12%added
HALLUSD HALLMARK FINL SVCS INC–1.4%$7.7m921,541+9.5%added
GSI GROUP INC CDA NEW no ticker–1.3%$7.2m548,444−12%reduced
COVIDIEN PLC no ticker–1.3%$7.0m94,882−4.2%reduced
BARRY R G CORP OHIO no ticker–1.3%$6.8m360,643−9.3%reduced
BARNES & NOBLE INC no ticker–1.3%$6.8m324,975−37%reduced
BNY BANK OF NY MELLON CORPFinancial Services1.3%$6.7m190,600−0.7%reduced
TEL TE CONNECTIVITY LTDTechnology1.2%$6.1m101,771−8.9%reduced
Signature Group Holdings Inc no ticker–1.1%$6.0m582,157+16%added
GEF/B GREIF INC–1.1%$5.6m96,197+2.1%added
GM General Motors CorpConsumer Cyclical1.0%$5.3m153,735−3.6%reduced
EFX EQUIFAX INCIndustrials1.0%$5.2m76,375−3.6%reduced
WESTELL TECHNOLOGIES INC no ticker–1.0%$5.1m1.39m−3.3%reduced
LIBERTY MEDIA CORP DELAWARE no ticker–1.0%$5.1m38,995−3.2%reduced
LQDT LIQUIDITY SERVICES INCConsumer Cyclical1.0%$5.1m194,918–new
CHKEUR CHESAPEAKE ENERGY CORP–0.9%$5.1m197,258−4.0%reduced
APCO OIL & GAS INTERNATIONAL no ticker–0.9%$4.9m336,995+25%added
SPX CORP no ticker–0.7%$3.7m37,370−72%reduced
LAKES ENTMNT INC no ticker–0.6%$2.9m587,602+539%added
L LOEWS CORPFinancial Services0.5%$2.9m64,700−73%reduced
FRANUSD FRANCESCAS HLDGS CORP–0.5%$2.8m153,200–new
BA BOEING COIndustrials0.5%$2.8m22,025+94%added

Exited since Q4 2013

11 rows
VERIFONE SYS INC no ticker1.9%$10.1m
TGT TARGET CORP1.7%$9.4m
CLGX CORELOGIC INC0.3%$1.5m
CTLEUR CENTURYLINK INC0.2%$1.2m
LYV LIVE NATION ENTERTAINMENT IN0.2%$933k
CROSSTEX ENERGY INC no ticker0.2%$883k
PXDEUR PIONEER NAT RES CO0.1%$703k
HARMAN INTL INDS INC no ticker0.08%$454k
Wells Fargo L 7.5% Pfd Series no ticker0.06%$350k
AES Trust III 6.75% 10/15/29 no ticker0.06%$321k
Capital One Finl Warrants 11/1 no ticker0.06%$315k

Sector mix

  • Unclassified68.4%
  • Industrials8.9%
  • Financial Services8.8%
  • Real Estate4.8%
  • Technology3.0%
  • Consumer Cyclical2.3%
  • Energy2.1%
  • Healthcare1.6%

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