WhaleCreep

Cove Street Capital 13F holdings, Q2 2016

Long-only investorSEC filingsCompare with another fundHoldings as of 2016-06-30, filed 2016-08-19

Cove Street Capital disclosed 103 US equity positions worth $905.2m in its Q2 2016 13F filing. Its largest position is FMC at 5.4% of the reported book, followed by VSAT and FOR. Versus Q1 2016 it opened 19 new positions, added to 38, reduced 21 and exited 19.

$905m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
103
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.
37.8%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
40
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 Q1 2016: 19 new, 38 added, 21 reduced, 19 exited

50 of 103
FMC FMC CORPBasic Materials5.4%$49.0m1.06m+19%added
VSAT VIASAT INCTechnology5.1%$46.6m652,403+26%added
FOR FORESTAR GROUP INCReal Estate4.6%$42.1m3.54m+10%added
HCCIUSD HERITAGE CRYSTAL CLEAN INC–3.6%$32.5m2.66m+20%added
U S G CORP no ticker–3.6%$32.5m1.20m−22%reduced
VERIFONE SYS INC no ticker–3.6%$32.1m1.73m–new
TASTUSD CARROLS RESTAURANT GROUP INC–3.3%$30.1m2.53m+23%added
LIBERTY MEDIA CORP DELAWARE no ticker–2.9%$26.7m1.39m+5062%added
HALYARD HEALTH INC no ticker–2.9%$26.6m816,808+61%added
GPX GP STRATEGIES CORP–2.7%$24.0m1.11m+46%added
ZBRA ZEBRA TECHNOLOGIES CORPTechnology2.6%$23.8m474,325+159%added
TIGO MILLICOM INTL CELLULAR S ACommunication Services2.6%$23.6m385,812+43%added
HALLUSD HALLMARK FINL SVCS INC–2.6%$23.1m1.99m+26%added
AVID TECHNOLOGY INC no ticker–2.3%$20.6m3.55m+54%added
BELMOND LTD no ticker–2.3%$20.6m2.08m+7.0%added
RAVN RAVEN INDS INC–2.3%$20.5m1.08m+17%added
NOVT NOVANTA INCTechnology2.1%$19.0m1.26m–new
COLFAX CORP no ticker–2.1%$18.9m715,153+10%added
CHEROKEE INC DEL NEW no ticker–2.0%$18.1m1.63m+28%added
American Vanguard Corp no ticker–1.9%$17.6m1.17m–new
WAIREUR WESCO AIRCRAFT HLDGS INC–1.9%$17.4m1.30m+46%added
FELE FRANKLIN ELEC INCIndustrials1.9%$17.1m518,244+14%added
HP5A EQUITY COMWLTH–1.9%$16.8m577,221+40%added
Dundee Corp - CL A no ticker–1.8%$16.5m2.81m+29%added
TUP TUPPERWARE BRANDS CORP–1.8%$16.4m290,805+35%added
LIBERTY GLOBAL PLC no ticker–1.8%$16.2m502,622+51%added
Baldwin & Lyons Inc Cl - B no ticker–1.7%$15.2m617,354–new
PRKS UNITED PARKS & RESORTS INCConsumer Cyclical1.6%$14.2m991,186+74%added
LEUCADIA NATL CORP no ticker–1.3%$12.0m690,459+1.6%added
EVLVUSD EVINE LIVE INC–1.2%$10.9m6.59m+24%added
SSP SCRIPPS E W CO OHIOCommunication Services1.2%$10.8m681,660–new
LIBERTY GLOBAL PLC no ticker–1.1%$9.9m341,050+51%added
Tesco Plc no ticker–1.1%$9.9m1.41m+18%added
LEVEL 3 COMMUNICATIONS INC no ticker–1.0%$9.1m176,140−4.2%reduced
JPM JPMORGAN CHASE & COFinancial Services1.0%$8.8m142,228−1.1%reduced
UFPT UFP TECHNOLOGIES INCHealthcare1.0%$8.8m389,173+335%added
IBM INTERNATIONAL BUSINESS MACHSTechnology1.0%$8.8m57,700+6.4%added
GDEN GOLDEN ENTMT INC–1.0%$8.7m740,812−1.6%reduced
COF CAPITAL ONE FINL CORPFinancial Services0.9%$7.8m123,495−2.0%reduced
Alleghany Corp no ticker–0.8%$7.4m13,451–new
WPXUSD WPX ENERGY INC–0.7%$6.4m684,022−32%reduced
CSW CSW INDUSTRIALS INCIndustrials0.6%$5.6m172,748+149%added
WESTELL TECHNOLOGIES INC no ticker–0.6%$5.4m7.73m+16%added
LIBERTY INTERACTIVE CORP no ticker–0.6%$5.2m205,560+3.5%added
WSM WILLIAMS SONOMA INCConsumer Cyclical0.6%$5.0m96,790–new
JOHNSON CTLS INC no ticker–0.6%$5.0m113,750−47%reduced
HERTZ GLOBAL HOLDINGS INC no ticker–0.6%$5.0m450,4100.0%held
The Bank of New York Mellon Co no ticker–0.5%$4.4m113,425–new
EFX EQUIFAX INCIndustrials0.5%$4.4m34,053−17%reduced
TEL TE CONNECTIVITY LTDTechnology0.5%$4.2m74,109−1.5%reduced

Exited since Q1 2016

19 rows
NEUSTAR INC no ticker2.1%$16.4m
AVD AMERICAN VANGUARD CORP2.0%$15.1m
GSI GROUP INC CDA NEW no ticker2.0%$15.1m
HRG GROUP INC no ticker1.5%$11.7m
BALDWIN & LYONS INC no ticker1.5%$11.4m
DREAMWORKS ANIMATION SKG INC no ticker1.2%$9.0m
AIG American International Group1.1%$8.7m
VIAB VIACOM INC NEW1.1%$8.2m
YUSD ALLEGHANY CORP DEL0.9%$6.7m
BNY BANK OF NY MELLON CORP0.5%$4.2m
BA BOEING CO0.3%$2.4m
AWI ARMSTRONG WORLD INDS INC NEW0.3%$2.3m
CCFEUR CHASE CORP0.3%$2.2m
ALBANY MOLECULAR RESH INC no ticker0.2%$1.8m
SPX CORP no ticker0.1%$1.0m
UCP INC no ticker0.1%$804k
ANIK ANIKA THERAPEUTICS INC0.10%$729k
OVERSEAS SHIPHOLDING GROUP I no ticker0.06%$468k
UNIVERSAL STAINLESS & ALLOY no ticker0.04%$298k

Sector mix

  • Unclassified65.4%
  • Technology11.6%
  • Basic Materials5.4%
  • Real Estate5.0%
  • Communication Services4.0%
  • Industrials3.1%
  • Consumer Cyclical2.1%
  • Financial Services2.1%
  • Healthcare1.1%
  • Utilities0.2%
  • Energy0.06%

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