WhaleCreep

Cove Street Capital 13F holdings, Q3 2015

Long-only investorSEC filingsCompare with another fundHoldings as of 2015-09-30, filed 2015-11-13

Cove Street Capital disclosed 112 US equity positions worth $754.5m in its Q3 2015 13F filing. Its largest position is VSAT at 5.4% of the reported book, followed by TASTUSD and FOR. Versus Q2 2015 it opened 13 new positions, added to 25, reduced 39 and exited 9.

$755m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
112
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.4%
Largest position
The largest single position as a share of the reported equity book.
35.7%
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 2015: 13 new, 25 added, 39 reduced, 9 exited

50 of 112
VSAT VIASAT INCTechnology5.4%$40.8m634,858+1.1%added
TASTUSD CARROLS RESTAURANT GROUP INC–5.2%$39.5m3.32m−8.8%reduced
FOR FORESTAR GROUP INCReal Estate4.5%$34.3m2.60m+12%added
BELMOND LTD no ticker–3.9%$29.4m2.91m−4.6%reduced
FMC FMC CORPBasic Materials3.8%$28.9m851,065–new
XURA INC no ticker–2.9%$21.7m968,768–new
NEUSTAR INC no ticker–2.7%$20.6m755,408−29%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–2.6%$19.5m1.90m−1.3%reduced
GPX GP STRATEGIES CORP–2.3%$17.6m772,713+94%added
HALLUSD HALLMARK FINL SVCS INC–2.3%$17.2m1.50m−0.5%reduced
AVD AMERICAN VANGUARD CORPBasic Materials2.2%$16.8m1.45m−4.8%reduced
LIBERTY INTERACTIVE CORP no ticker–2.2%$16.7m415,047−47%reduced
FRANUSD FRANCESCAS HLDGS CORP–2.1%$16.1m1.32m+22%added
AVID TECHNOLOGY INC no ticker–2.0%$15.3m1.92m+182%added
GSI GROUP INC CDA NEW no ticker–2.0%$15.1m1.19m−0.8%reduced
EVLVUSD EVINE LIVE INC–1.9%$14.5m5.54m+23%added
TIGO MILLICOM INTL CELLULAR S ACommunication Services1.8%$13.4m213,990+369%added
HP5A EQUITY COMWLTH–1.7%$12.8m469,415−21%reduced
HRG GROUP INC no ticker–1.7%$12.7m1.08m+2.4%added
LIBERTY GLOBAL PLC no ticker–1.7%$12.6m372,738–new
CHEROKEE INC DEL NEW no ticker–1.6%$12.4m796,652+36%added
PRKS UNITED PARKS & RESORTS INCConsumer Cyclical1.6%$12.2m683,720+2.1%added
ANIK ANIKA THERAPEUTICS INCHealthcare1.6%$11.8m370,441+16%added
LEUCADIA NATL CORP no ticker–1.5%$11.4m562,685−18%reduced
AIG American International GroupFinancial Services1.4%$10.9m191,100−7.4%reduced
TUP TUPPERWARE BRANDS CORP–1.4%$10.7m216,280–new
HALYARD HEALTH INC no ticker–1.4%$10.6m372,548+41%added
LEVEL 3 COMMUNICATIONS INC no ticker–1.4%$10.6m242,275+0.4%held
JPM JPMORGAN CHASE & COFinancial Services1.4%$10.5m172,408−7.2%reduced
DREAMWORKS ANIMATION SKG INC no ticker–1.3%$10.1m581,027−8.6%reduced
Dundee Corp - CL A no ticker–1.3%$10.0m1.54m+251%added
BALDWIN & LYONS INC no ticker–1.3%$9.9m456,992−0.2%held
COF CAPITAL ONE FINL CORPFinancial Services1.3%$9.6m132,370−4.4%reduced
IBM INTERNATIONAL BUSINESS MACHSTechnology1.3%$9.6m65,885−4.1%reduced
FELE FRANKLIN ELEC INCIndustrials1.3%$9.5m350,105–new
Tesco Plc no ticker–1.2%$9.2m1.11m−0.8%reduced
ATUEUR ACTUANT CORP–1.2%$9.2m500,318−0.8%reduced
LIBERTY GLOBAL PLC no ticker–1.2%$8.8m205,000+78%added
JOHNSON CTLS INC no ticker–1.2%$8.7m211,075−2.4%reduced
HERTZ GLOBAL HOLDINGS INC no ticker–1.1%$8.2m487,885+0.3%held
WESTELL TECHNOLOGIES INC no ticker–1.0%$7.9m6.93m0.0%held
LIBERTY INTERACTIVE CORP no ticker–1.0%$7.5m285,390−5.7%reduced
YUSD ALLEGHANY CORP DEL–0.9%$7.0m14,943−3.5%reduced
GDEN GOLDEN ENTMT INC–0.9%$6.9m763,378–new
AREXQ APPROACH RESOURCES INC–0.8%$6.3m3.39m−4.1%reduced
WPXUSD WPX ENERGY INC–0.8%$6.1m926,622−10%reduced
EFX EQUIFAX INCIndustrials0.8%$6.0m61,765−7.5%reduced
TEL TE CONNECTIVITY LTDTechnology0.7%$5.2m86,284−3.9%reduced
WHITE MTNS INS GROUP LTD no ticker–0.7%$5.0m6,627−70%reduced
BNY BANK OF NY MELLON CORPFinancial Services0.6%$4.8m122,965−23%reduced

Exited since Q2 2015

9 rows
COMVERSE INC no ticker3.7%$30.5m
LAKES ENTMNT INC no ticker0.8%$6.7m
GM General Motors Corp0.7%$5.6m
BBBYEUR BED BATH & BEYOND INC0.2%$1.5m
ITRN ITURAN LOCATION AND CONTROL0.08%$623k
ORIT ORITANI FINL CORP DEL0.07%$562k
INTLUSD INTL FCSTONE INC0.04%$317k
NATURAL RESOURCE PARTNERS L no ticker0.01%$118k
AETIEUR AMERICAN ELECTRIC TECH INC0.01%$115k

Sector mix

  • Unclassified67.9%
  • Technology7.6%
  • Basic Materials6.1%
  • Financial Services5.0%
  • Real Estate4.9%
  • Industrials2.5%
  • Healthcare2.0%
  • Communication Services2.0%
  • Consumer Cyclical1.6%
  • Utilities0.3%
  • Energy0.1%

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