WhaleCreep

Cove Street Capital 13F holdings, Q2 2018

Long-only investorSEC filingsCompare with another fundHoldings as of 2018-06-30, filed 2018-08-13

Cove Street Capital disclosed 102 US equity positions worth $918.8m in its Q2 2018 13F filing. Its largest position is SSP at 5.9% of the reported book, followed by VSAT and TIGO. Versus Q1 2018 it opened 8 new positions, added to 39, reduced 25 and exited 12.

$919m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
102
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.9%
Largest position
The largest single position as a share of the reported equity book.
38.2%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
39
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 2018: 8 new, 39 added, 25 reduced, 12 exited

50 of 102
SSP SCRIPPS E W CO OHIOCommunication Services5.9%$53.9m4.03m+8.8%added
VSAT VIASAT INCTechnology5.4%$49.8m757,105+1.7%added
TIGO MILLICOM INTL CELLULAR S ACommunication Services4.6%$42.5m722,721+4.6%added
TGNA TEGNA INC–4.0%$37.1m3.42m−1.3%reduced
AVID TECHNOLOGY INC no ticker–3.6%$32.9m6.32m+1.4%added
WAIREUR WESCO AIRCRAFT HLDGS INC–3.2%$29.3m2.61m−39%reduced
GPX GP STRATEGIES CORP–3.1%$28.4m1.61m+8.5%added
INTLUSD INTL FCSTONE INC–3.0%$27.4m529,197−1.0%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–2.9%$26.4m1.32m−2.9%reduced
CSUUSD CAPITAL SR LIVING CORP–2.6%$23.6m2.21m+51%added
TUP TUPPERWARE BRANDS CORP–2.5%$23.3m564,961−2.2%reduced
DNOW DNOW INCIndustrials2.5%$23.2m1.74m−0.8%reduced
GTT1USD GTT COMMUNICATIONS INC–2.4%$22.4m497,306+3.4%added
PANDORA MEDIA INC no ticker–2.4%$22.0m2.79m−3.8%reduced
UFPT UFP TECHNOLOGIES INCHealthcare2.4%$21.9m711,072+5.8%added
CMP COMPASS MINERALS INTL INCBasic Materials2.4%$21.6m328,530−4.2%reduced
AVD AMERICAN VANGUARD CORPBasic Materials2.3%$21.5m937,534−1.5%reduced
COLFAX CORP no ticker–2.2%$19.8m647,143+8.4%added
MIC2EUR MACQUARIE INFRASTRUCTURE COR–2.2%$19.8m468,680+15%added
TASTUSD CARROLS RESTAURANT GROUP INC–2.0%$18.4m1.24m−17%reduced
HRG GROUP INC no ticker–2.0%$18.2m1.39m–new
CSW CSW INDUSTRIALS INCIndustrials2.0%$18.1m341,950+0.6%added
HALLUSD HALLMARK FINL SVCS INC–1.8%$16.9m1.69m+0.3%held
PDCOEUR PATTERSON COS INC–1.8%$16.1m711,790+16%added
ESTERLINE TECHNOLOGIES CORP no ticker–1.7%$15.7m212,205+0.9%added
HP5A EQUITY COMWLTH–1.6%$15.1m479,675−6.8%reduced
BELMOND LTD no ticker–1.5%$13.6m1.22m+4.7%added
ATUEUR ACTUANT CORP–1.4%$12.4m423,805−23%reduced
LIBERTY MEDIA CORP DEL no ticker–1.2%$11.0m244,019+3.3%added
AXALTA COATING SYS LTD no ticker–1.2%$10.9m359,429+19%added
YUSD ALLEGHANY CORP DEL–1.2%$10.8m18,724+9.7%added
JEF JEFFERIES FINANCIAL GROUP INFinancial Services1.1%$10.0m441,681–new
CTLEUR CENTURYLINK INC–1.1%$10.0m534,788−1.5%reduced
GE GENERAL ELECTRIC COIndustrials1.0%$9.4m691,700+98%added
BNY BANK OF NY MELLON CORPFinancial Services1.0%$8.9m164,115−0.3%held
JPM JPMORGAN CHASE & COFinancial Services0.9%$8.6m82,951+2.0%added
HSIC HENRY SCHEIN INCHealthcare0.9%$8.6m118,331+56%added
QVCG QVC GROUP INCConsumer Cyclical0.9%$8.6m403,258+11%added
LIBERTY GLOBAL PLC no ticker–0.9%$8.1m292,390+0.5%held
FMC FMC CORPBasic Materials0.8%$7.4m83,073−8.4%reduced
EVLVUSD EVINE LIVE INC–0.8%$7.2m5.84m−3.9%reduced
GEC GREAT ELM CAP GROUP INC–0.8%$7.1m1.97m0.0%held
MAMS MAM SOFTWARE GROUP INC–0.8%$6.9m805,537+7.9%added
AYI ACUITY INCIndustrials0.7%$6.7m57,904+30%added
LILAB LIBERTY LATIN AMERICA LTDCommunication Services0.7%$6.6m345,932−28%reduced
VIAB VIACOM INC NEW–0.6%$5.6m184,151+23%added
SMART & FINAL STORES INC no ticker–0.6%$5.3m947,182–new
MAT MATTEL INCConsumer Cyclical0.5%$5.0m302,900−5.5%reduced
TEL TE CONNECTIVITY LTDTechnology0.5%$4.3m47,266+8.1%added
JCI JOHNSON CONTROLS INTERNATIONIndustrials0.4%$4.1m122,360+1.6%added

Exited since Q1 2018

12 rows
U S G CORP no ticker2.4%$22.1m
SBH SALLY BEAUTY HLDGS INC1.9%$17.1m
LEUCADIA NATL CORP no ticker1.2%$10.7m
Carbon Natural Gas Company no ticker0.3%$2.5m
Tropicana Entertainment Inc no ticker0.2%$1.5m
MNTXEUR MANITEX INTL INC0.1%$1.1m
WSTLEUR WESTELL TECHNOLOGIES INC0.06%$545k
DIT AMCON DISTRG CO0.05%$481k
TRIB TRINITY BIOTECH PLC0.05%$473k
CSCO CISCO SYS INC0.05%$472k
VERIFONE SYS INC no ticker0.02%$225k
CLPR CLIPPER RLTY INC0.02%$166k

Sector mix

  • Unclassified60.4%
  • Communication Services11.2%
  • Industrials7.2%
  • Technology6.2%
  • Basic Materials5.6%
  • Healthcare3.5%
  • Financial Services3.3%
  • Consumer Cyclical1.7%
  • Energy0.4%
  • Real Estate0.2%
  • Utilities0.1%
  • Consumer Defensive0.1%

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