WhaleCreep

Cove Street Capital 13F holdings, Q3 2014

Long-only investorSEC filingsCompare with another fundHoldings as of 2014-09-30, filed 2014-10-17

Cove Street Capital disclosed 92 US equity positions worth $641.7m in its Q3 2014 13F filing. Its largest position is AREXQ at 4.7% of the reported book, followed by FOR and WHITE MTNS INS GROUP LTD. Versus Q2 2014 it opened 27 new positions, added to 29, reduced 24 and exited 6.

$642m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
92
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
4.7%
Largest position
The largest single position as a share of the reported equity book.
34.9%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
45
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 2014: 27 new, 29 added, 24 reduced, 6 exited

50 of 92
AREXQ APPROACH RESOURCES INC–4.7%$30.3m2.09m+33%added
FOR FORESTAR GROUP INCReal Estate4.5%$28.7m1.62m+3.3%added
WHITE MTNS INS GROUP LTD no ticker–4.0%$25.7m40,756−3.1%reduced
GHC GRAHAM HLDGS COIndustrials3.7%$23.7m33,849+2.9%added
TAMINCO CORP no ticker–3.6%$23.3m891,060−33%reduced
CHIMERA INVT CORP no ticker–3.5%$22.2m7.29m+1.3%added
HCCIUSD HERITAGE CRYSTAL CLEAN INC–3.0%$19.5m1.31m+25%added
AZZ AZZ INCIndustrials2.7%$17.6m421,492+6.6%added
TASTUSD CARROLS RESTAURANT GROUP INC–2.7%$17.6m2.47m–new
PMC-SIERRA INC no ticker–2.4%$15.6m2.08m+4.8%added
VSAT VIASAT INCTechnology2.3%$14.9m271,235+103%added
REMY INTL INC no ticker–2.2%$14.2m690,344+25%added
CHEROKEE INC DEL NEW no ticker–2.0%$12.9m710,570+3.6%added
LEVEL 3 COMMUNICATIONS INC no ticker–2.0%$12.8m280,955+1.5%added
LEUCADIA NATL CORP no ticker–1.9%$12.4m520,145+2.2%added
GSI GROUP INC CDA NEW no ticker–1.9%$12.2m1.06m+76%added
AVID TECHNOLOGY INC no ticker–1.9%$12.0m1.19m−22%reduced
LIBERTY INTERACTIVE CORP no ticker–1.9%$12.0m419,955−1.3%reduced
HALLUSD HALLMARK FINL SVCS INC–1.9%$11.9m1.16m+7.0%added
YUSD ALLEGHANY CORP DEL–1.9%$11.9m28,571−2.4%reduced
JPM JPMORGAN CHASE & COFinancial Services1.8%$11.7m194,083−0.3%held
COF CAPITAL ONE FINL CORPFinancial Services1.8%$11.6m142,265−6.0%reduced
AIG American International GroupFinancial Services1.8%$11.4m210,860−4.6%reduced
GPX GP STRATEGIES CORP–1.8%$11.4m395,720+15%added
WESTELL TECHNOLOGIES INC no ticker–1.8%$11.4m6.17m+109%added
BELMOND LTD no ticker–1.7%$10.9m938,567–new
SYMETRA FINL CORP no ticker–1.7%$10.7m456,579+2.5%added
HERTZ GLOBAL HOLDINGS INC no ticker–1.6%$10.0m395,610+2.3%added
OXY OCCIDENTAL PETE CORPEnergy1.6%$10.0m104,070−4.2%reduced
HSN INC no ticker–1.5%$9.8m158,903+3.4%added
INTLUSD INTL FCSTONE INC–1.5%$9.7m560,846+50%added
JOHNSON CTLS INC no ticker–1.5%$9.7m220,3550.0%held
OM GROUP INC no ticker–1.4%$9.1m350,900–new
EMERALD OIL INC no ticker–1.4%$9.1m1.48m+15%added
AVD AMERICAN VANGUARD CORPBasic Materials1.4%$9.0m802,600+437%added
FRANUSD FRANCESCAS HLDGS CORP–1.3%$8.5m611,855−2.4%reduced
BALDWIN & LYONS INC no ticker–1.3%$8.1m326,919+53%added
FICO FAIR ISAAC CORPTechnology1.2%$7.9m142,984−13%reduced
WAIREUR WESCO AIRCRAFT HLDGS INC–1.2%$7.5m428,177–new
BNY BANK OF NY MELLON CORPFinancial Services1.0%$6.6m171,090−6.8%reduced
GEF/B GREIF INC–1.0%$6.4m130,226+26%added
NEUSTAR INC no ticker–1.0%$6.4m256,841−3.7%reduced
BARNES & NOBLE INC no ticker–1.0%$6.2m315,716−28%reduced
GM General Motors CorpConsumer Cyclical0.9%$6.0m189,170+1.0%added
APCO OIL & GAS INTERNATIONAL no ticker–0.9%$5.6m436,756+14%added
EFX EQUIFAX INCIndustrials0.9%$5.6m75,055−0.4%held
TEL TE CONNECTIVITY LTDTechnology0.8%$5.0m90,759−4.4%reduced
LAKES ENTMNT INC no ticker–0.7%$4.8m571,154–new
Signature Group Holdings Inc no ticker–0.7%$4.6m571,448−1.7%reduced
LIBERTY MEDIA CORP DELAWARE no ticker–0.6%$3.6m76,690–new

Exited since Q2 2014

6 rows
INTERNATIONAL GAME TECHNOLOG no ticker2.2%$13.4m
ORIENT-EXPRESS HOTELS LTD no ticker2.0%$12.2m
LAKES ENTMNT INC no ticker0.6%$3.5m
L LOEWS CORP0.5%$2.9m
AVPUSD AVON PRODS INC0.3%$1.6m
BP BP PLC0.03%$211k

Sector mix

  • Unclassified71.5%
  • Industrials7.7%
  • Financial Services6.8%
  • Technology4.6%
  • Real Estate4.6%
  • Energy1.7%
  • Basic Materials1.4%
  • Consumer Cyclical1.1%
  • Communication Services0.3%
  • Healthcare0.2%
  • Utilities0.1%

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