WhaleCreep

Cove Street Capital 13F holdings, Q3 2018

Long-only investorSEC filingsCompare with another fundHoldings as of 2018-09-30, filed 2018-11-13

Cove Street Capital disclosed 98 US equity positions worth $948.2m in its Q3 2018 13F filing. Its largest position is VSAT at 5.6% of the reported book, followed by SSP and TGNA. Versus Q2 2018 it opened 1 new position, added to 30, reduced 34 and exited 5.

$948m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
98
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.6%
Largest position
The largest single position as a share of the reported equity book.
39.5%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
38
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 2018: 1 new, 30 added, 34 reduced, 5 exited

50 of 98
VSAT VIASAT INCTechnology5.6%$53.2m831,452+9.8%added
SSP SCRIPPS E W CO OHIOCommunication Services5.4%$51.4m3.12m−23%reduced
TGNA TEGNA INC–4.8%$45.1m3.77m+10%added
TIGO MILLICOM INTL CELLULAR S ACommunication Services4.4%$41.7m729,022+0.9%added
AVID TECHNOLOGY INC no ticker–3.9%$37.2m6.28m−0.6%reduced
GTT1USD GTT COMMUNICATIONS INC–3.7%$34.7m799,237+61%added
GPX GP STRATEGIES CORP–3.1%$29.5m1.75m+8.7%added
HCCIUSD HERITAGE CRYSTAL CLEAN INC–2.9%$27.5m1.29m−2.2%reduced
TUP TUPPERWARE BRANDS CORP–2.9%$27.5m821,084+45%added
CMP COMPASS MINERALS INTL INCBasic Materials2.8%$26.4m392,830+20%added
UFPT UFP TECHNOLOGIES INCHealthcare2.8%$26.2m712,982+0.3%held
INTLUSD INTL FCSTONE INC–2.7%$25.4m524,942−0.8%reduced
CSUUSD CAPITAL SR LIVING CORP–2.7%$25.1m2.66m+21%added
COLFAX CORP no ticker–2.4%$23.1m639,494−1.2%reduced
PANDORA MEDIA INC no ticker–2.2%$21.1m2.22m−20%reduced
BELMOND LTD no ticker–2.2%$20.9m1.15m−5.7%reduced
DNOW DNOW INCIndustrials2.2%$20.7m1.25m−28%reduced
MIC2EUR MACQUARIE INFRASTRUCTURE COR–2.2%$20.6m445,680−4.9%reduced
HALLUSD HALLMARK FINL SVCS INC–1.9%$18.5m1.68m−0.7%reduced
PDCOEUR PATTERSON COS INC–1.9%$18.3m747,937+5.1%added
CSW CSW INDUSTRIALS INCIndustrials1.9%$18.2m339,050−0.8%reduced
WAIREUR WESCO AIRCRAFT HLDGS INC–1.9%$18.2m1.62m−38%reduced
SPB SPECTRUM BRANDS HLDGS INC NEConsumer Defensive1.9%$18.1m242,133+1888%added
AVD AMERICAN VANGUARD CORPBasic Materials1.8%$17.3m961,447+2.6%added
TASTUSD CARROLS RESTAURANT GROUP INC–1.4%$13.6m929,263−25%reduced
ESTERLINE TECHNOLOGIES CORP no ticker–1.4%$13.5m148,447−30%reduced
SMART & FINAL STORES INC no ticker–1.3%$12.1m2.13m+125%added
ATUEUR ACTUANT CORP–1.3%$12.1m433,140+2.2%added
YUSD ALLEGHANY CORP DEL–1.2%$11.8m18,139−3.1%reduced
HP5A EQUITY COMWLTH–1.2%$11.8m368,000−23%reduced
AXALTA COATING SYS LTD no ticker–1.2%$11.1m381,367+6.1%added
LIBERTY MEDIA CORP DEL no ticker–1.2%$11.0m253,008+3.7%added
CTLEUR CENTURYLINK INC–1.1%$10.7m503,788−5.8%reduced
HSIC HENRY SCHEIN INCHealthcare1.1%$10.6m125,102+5.7%added
QVCG QVC GROUP INCConsumer Cyclical1.1%$10.2m458,287+14%added
JEF JEFFERIES FINANCIAL GROUP INFinancial Services1.0%$9.6m439,146−0.6%reduced
JPM JPMORGAN CHASE & COFinancial Services0.9%$8.8m77,606−6.4%reduced
AYI ACUITY INCIndustrials0.9%$8.6m54,497−5.9%reduced
LIBERTY GLOBAL PLC no ticker–0.8%$8.0m277,390−5.1%reduced
BNY BANK OF NY MELLON CORPFinancial Services0.8%$8.0m156,615−4.6%reduced
FMC FMC CORPBasic Materials0.8%$7.2m82,443−0.8%reduced
MAMS MAM SOFTWARE GROUP INC–0.7%$7.1m919,335+14%added
VIAB VIACOM INC NEW–0.7%$6.7m199,413+8.3%added
EVLVUSD EVINE LIVE INC–0.7%$6.4m5.54m−5.1%reduced
GE GENERAL ELECTRIC COIndustrials0.6%$6.0m534,400−23%reduced
LILAB LIBERTY LATIN AMERICA LTDCommunication Services0.6%$5.5m264,863−23%reduced
GEC GREAT ELM CAP GROUP INC–0.5%$5.0m1.52m−23%reduced
MAT MATTEL INCConsumer Cyclical0.5%$4.5m283,900−6.3%reduced
DOWDUPONT INC no ticker–0.5%$4.4m68,300+132%added
JCI JOHNSON CONTROLS INTERNATIONIndustrials0.4%$4.0m115,360−5.7%reduced

Exited since Q2 2018

5 rows
HRG GROUP INC no ticker2.0%$18.2m
SLP SIMULATIONS PLUS INC0.2%$1.6m
THRM GENTHERM INC0.09%$845k
GNTX GENTEX CORP0.08%$737k
SERVUSD SERVICEMASTER GLOBAL HLDGS I0.0%$3.0k

Sector mix

  • Unclassified59.9%
  • Communication Services10.4%
  • Industrials6.6%
  • Technology6.3%
  • Basic Materials5.5%
  • Healthcare3.9%
  • Financial Services3.1%
  • Consumer Defensive1.9%
  • Consumer Cyclical1.7%
  • Energy0.4%
  • 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