WhaleCreep

Cove Street Capital 13F holdings, Q3 2016

Long-only investorSEC filingsCompare with another fundHoldings as of 2016-09-30, filed 2016-11-10

Cove Street Capital disclosed 95 US equity positions worth $927.6m in its Q3 2016 13F filing. Its largest position is VSAT at 5.0% of the reported book, followed by FMC and LIBERTY MEDIA CORP DELAWARE. Versus Q2 2016 it opened 13 new positions, added to 18, reduced 33 and exited 21.

$928m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
95
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.0%
Largest position
The largest single position as a share of the reported equity book.
38.4%
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 Q2 2016: 13 new, 18 added, 33 reduced, 21 exited

50 of 95
VSAT VIASAT INCTechnology5.0%$46.5m622,830−4.5%reduced
FMC FMC CORPBasic Materials4.6%$42.2m873,139−17%reduced
LIBERTY MEDIA CORP DELAWARE no ticker–4.2%$38.8m1.36m−2.8%reduced
LIBERTY GLOBAL PLC no ticker–4.2%$38.7m1.40m+179%added
FOR FORESTAR GROUP INCReal Estate3.9%$36.3m3.10m−12%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–3.9%$36.0m2.71m+1.8%added
U S G CORP no ticker–3.4%$31.7m1.23m+1.8%added
TASTUSD CARROLS RESTAURANT GROUP INC–3.3%$30.9m2.34m−7.5%reduced
GPX GP STRATEGIES CORP–3.1%$28.9m1.18m+6.1%added
BELMOND LTD no ticker–2.8%$26.1m2.05m−1.2%reduced
HALYARD HEALTH INC no ticker–2.8%$25.7m742,853−9.1%reduced
ZBRA ZEBRA TECHNOLOGIES CORPTechnology2.6%$24.3m348,826−26%reduced
TIGO MILLICOM INTL CELLULAR S ACommunication Services2.6%$24.3m464,861+20%added
VERIFONE SYS INC no ticker–2.6%$24.2m1.53m−11%reduced
NOVT NOVANTA INCTechnology2.4%$21.8m1.26m0.0%held
COLFAX CORP no ticker–2.3%$21.8m693,199−3.1%reduced
HALLUSD HALLMARK FINL SVCS INC–2.3%$21.1m2.05m+3.0%added
AVID TECHNOLOGY INC no ticker–2.2%$20.8m2.62m−26%reduced
TUP TUPPERWARE BRANDS CORP–2.0%$18.3m279,559−3.9%reduced
AVD AMERICAN VANGUARD CORPBasic Materials1.9%$17.8m1.11m–new
CHEROKEE INC DEL NEW no ticker–1.9%$17.7m1.72m+5.0%added
WAIREUR WESCO AIRCRAFT HLDGS INC–1.9%$17.6m1.31m+0.7%added
SSP SCRIPPS E W CO OHIOCommunication Services1.9%$17.2m1.08m+59%added
CSW CSW INDUSTRIALS INCIndustrials1.8%$16.4m505,330+193%added
RAVN RAVEN INDS INC–1.7%$16.0m693,142−36%reduced
BALDWIN & LYONS INC no ticker–1.7%$15.7m611,654–new
Dundee Corp - CL A no ticker–1.7%$15.4m2.96m+5.4%added
EVLVUSD EVINE LIVE INC–1.6%$15.2m6.65m+1.0%added
HP5A EQUITY COMWLTH–1.6%$15.0m497,648−14%reduced
LEUCADIA NATL CORP no ticker–1.3%$12.0m632,116−8.4%reduced
UFPT UFP TECHNOLOGIES INCHealthcare1.3%$11.7m440,443+13%added
FELE FRANKLIN ELEC INCIndustrials1.2%$11.1m271,599−48%reduced
LIBERTY GLOBAL PLC no ticker–1.2%$10.9m317,950−6.8%reduced
EVC ENTRAVISION COMMUNICATIONS CCommunication Services1.1%$10.2m1.33m+4101%added
WPXUSD WPX ENERGY INC–1.0%$9.4m715,787+4.6%added
LIBERTY INTERACTIVE CORP no ticker–1.0%$9.0m450,480+119%added
Tesco Plc no ticker–0.9%$8.8m1.23m−12%reduced
JPM JPMORGAN CHASE & COFinancial Services0.9%$8.1m122,328−14%reduced
COF CAPITAL ONE FINL CORPFinancial Services0.8%$7.6m106,395−14%reduced
LEVEL 3 COMMUNICATIONS INC no ticker–0.8%$7.3m156,979−11%reduced
YUSD ALLEGHANY CORP DEL–0.7%$6.4m12,192–new
JCI JOHNSON CONTROLS INTERNATIONIndustrials0.6%$6.0m129,073–new
GDEN GOLDEN ENTMT INC–0.5%$5.0m403,701−46%reduced
Swatch Group AG no ticker–0.5%$4.8m339,090–new
IBM INTERNATIONAL BUSINESS MACHSTechnology0.5%$4.4m27,490−52%reduced
WSM WILLIAMS SONOMA INCConsumer Cyclical0.5%$4.3m84,907−12%reduced
BNY BANK OF NY MELLON CORPFinancial Services0.4%$4.2m104,375–new
TEL TE CONNECTIVITY LTDTechnology0.4%$4.1m63,909−14%reduced
WESTELL TECHNOLOGIES INC no ticker–0.4%$3.9m7.60m−1.7%reduced
MAMS MAM SOFTWARE GROUP INC–0.3%$3.1m518,8000.0%held

Exited since Q2 2016

21 rows
American Vanguard Corp no ticker1.9%$17.6m
Baldwin & Lyons Inc Cl - B no ticker1.7%$15.2m
PRKS UNITED PARKS & RESORTS INC1.6%$14.2m
Alleghany Corp no ticker0.8%$7.4m
JOHNSON CTLS INC no ticker0.6%$5.0m
HERTZ GLOBAL HOLDINGS INC no ticker0.6%$5.0m
The Bank of New York Mellon Co no ticker0.5%$4.4m
The Boeing Company no ticker0.3%$2.4m
Albany Molecular Research no ticker0.2%$1.6m
CHIMERA INVT CORP no ticker0.2%$1.5m
VZ VERIZON COMMUNICATIONS INC0.2%$1.5m
COACH INC no ticker0.2%$1.4m
MNRUSD MONMOUTH REAL ESTATE INVT CO0.2%$1.4m
KEYW HLDG CORP no ticker0.1%$1.3m
FRANUSD FRANCESCAS HLDGS CORP0.1%$1.1m
XURA INC no ticker0.09%$843k
SPARK NETWORKS INC no ticker0.05%$474k
PICOEUR PICO HLDGS INC0.05%$426k
TPHS TRINITY PL HLDGS INC0.05%$423k
KLX INC no ticker0.04%$400k
BXMT BLACKSTONE MTG TR INC0.03%$244k

Sector mix

  • Unclassified63.8%
  • Technology11.2%
  • Basic Materials6.5%
  • Communication Services5.6%
  • Real Estate4.2%
  • Industrials3.9%
  • Financial Services2.5%
  • Healthcare1.4%
  • Consumer Cyclical0.5%
  • Utilities0.3%
  • Energy0.2%

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