WhaleCreep

Cove Street Capital 13F holdings, Q4 2017

Long-only investorSEC filingsCompare with another fundHoldings as of 2017-12-31, filed 2018-02-13

Cove Street Capital disclosed 107 US equity positions worth $926.8m in its Q4 2017 13F filing. Its largest position is VSAT at 6.2% of the reported book, followed by TGNA and SSP. Versus Q3 2017 it opened 10 new positions, added to 28, reduced 35 and exited 11.

$927m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
107
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
6.2%
Largest position
The largest single position as a share of the reported equity book.
43.9%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
36
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 Q3 2017: 10 new, 28 added, 35 reduced, 11 exited

50 of 107
VSAT VIASAT INCTechnology6.2%$57.6m769,394+14%added
TGNA TEGNA INC–5.5%$50.6m3.60m+6.9%added
SSP SCRIPPS E W CO OHIOCommunication Services5.3%$49.0m3.14m+30%added
TIGO MILLICOM INTL CELLULAR S ACommunication Services5.3%$49.0m726,768+17%added
GTT1USD GTT COMMUNICATIONS INC–4.3%$40.2m855,329+5.4%added
WAIREUR WESCO AIRCRAFT HLDGS INC–4.2%$38.6m5.21m+12%added
GPX GP STRATEGIES CORP–3.8%$34.8m1.50m+50%added
AVID TECHNOLOGY INC no ticker–3.6%$33.1m6.15m−9.5%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–3.5%$32.2m1.48m−12%reduced
U S G CORP no ticker–2.4%$22.0m569,734−16%reduced
WPXUSD WPX ENERGY INC–2.3%$20.9m1.48m+5.4%added
TASTUSD CARROLS RESTAURANT GROUP INC–2.2%$20.0m1.65m−4.6%reduced
AVD AMERICAN VANGUARD CORPBasic Materials2.1%$19.7m1.00m−11%reduced
CSUUSD CAPITAL SR LIVING CORP–2.1%$19.6m1.45m+12%added
SBH SALLY BEAUTY HLDGS INCConsumer Cyclical2.0%$19.0m1.01m−0.9%reduced
CMP COMPASS MINERALS INTL INCBasic Materials2.0%$18.8m259,980−27%reduced
HALLUSD HALLMARK FINL SVCS INC–1.9%$18.1m1.73m−4.6%reduced
INTLUSD INTL FCSTONE INC–1.9%$17.7m415,872+4.0%added
TUP TUPPERWARE BRANDS CORP–1.9%$17.5m278,521+0.5%held
UFPT UFP TECHNOLOGIES INCHealthcare1.8%$17.0m613,130+6.1%added
HALYARD HEALTH INC no ticker–1.8%$16.6m359,465−2.3%reduced
HP5A EQUITY COMWLTH–1.7%$16.1m528,455+4.9%added
CSW CSW INDUSTRIALS INCIndustrials1.7%$15.8m343,475−28%reduced
ESTERLINE TECHNOLOGIES CORP no ticker–1.7%$15.6m208,900–new
BELMOND LTD no ticker–1.5%$14.3m1.17m+1.7%added
ATUEUR ACTUANT CORP–1.5%$14.0m553,511−1.2%reduced
LEUCADIA NATL CORP no ticker–1.4%$12.8m482,0180.0%held
LIBERTY GLOBAL PLC no ticker–1.2%$11.4m316,830+7.1%added
LILAB LIBERTY LATIN AMERICA LTDCommunication Services1.2%$10.8m534,134–new
CTLEUR CENTURYLINK INC–1.2%$10.8m645,082+761%added
LIBERTY INTERACTIVE CORP no ticker–1.1%$10.1m414,712+0.3%held
JPM JPMORGAN CHASE & COFinancial Services1.1%$9.9m92,941−5.8%reduced
FMC FMC CORPBasic Materials1.0%$9.1m96,533−42%reduced
CSCO CISCO SYS INCTechnology1.0%$9.0m235,700−0.3%held
EVLVUSD EVINE LIVE INC–0.9%$8.5m6.08m−1.0%reduced
GEC GREAT ELM CAP GROUP INC–0.9%$8.1m1.99m0.0%held
GE GENERAL ELECTRIC COIndustrials0.8%$7.5m430,300+15%added
BNY BANK OF NY MELLON CORPFinancial Services0.7%$6.9m127,615+0.6%added
YUSD ALLEGHANY CORP DEL–0.7%$6.6m11,0630.0%held
COF CAPITAL ONE FINL CORPFinancial Services0.7%$6.4m64,270−21%reduced
AKAM AKAMAI TECHNOLOGIES INCTechnology0.7%$6.3m97,455−25%reduced
Tesco Plc no ticker–0.7%$6.1m722,745−24%reduced
Dundee Corp CL A no ticker–0.6%$5.7m2.85m+6.0%added
CHEROKEE INC DEL NEW no ticker–0.6%$5.2m2.77m+8.8%added
VIAB VIACOM INC NEW–0.5%$4.9m157,641+2050%added
MAT MATTEL INCConsumer Cyclical0.5%$4.8m314,600–new
TEL TE CONNECTIVITY LTDTechnology0.5%$4.8m50,616−5.1%reduced
SNBRQ SLEEP NUMBER CORPConsumer Cyclical0.5%$4.7m126,140–new
MAMS MAM SOFTWARE GROUP INC–0.5%$4.7m626,786+21%added
KODK EASTMAN KODAK COIndustrials0.5%$4.2m1.35m+86%added

Exited since Q3 2017

11 rows
SELECT COMFORT CORP no ticker1.6%$14.0m
LIBERTY GLOBAL PLC no ticker1.3%$11.8m
LEVEL 3 COMMUNICATIONS INC no ticker1.0%$9.3m
GCAPEUR GAIN CAP HLDGS INC0.2%$1.5m
PLANET PAYMENT INC no ticker0.2%$1.4m
CBPXEUR CONTINENTAL BLDG PRODS INC0.1%$1.3m
NEW YORK REIT INC no ticker0.1%$1.1m
HMTVUSD HEMISPHERE MEDIA GROUP INC0.07%$636k
VNCE VINCE HLDG CORP0.05%$493k
BUFFALO WILD WINGS INC no ticker0.02%$219k
MBI MBIA INC0.02%$177k

Sector mix

  • Unclassified61.3%
  • Communication Services11.7%
  • Technology8.9%
  • Basic Materials5.2%
  • Industrials3.8%
  • Financial Services3.4%
  • Consumer Cyclical3.1%
  • Healthcare2.0%
  • Energy0.3%
  • Real Estate0.1%
  • 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