WhaleCreep

Cove Street Capital 13F holdings, Q4 2018

Long-only investorSEC filingsCompare with another fundHoldings as of 2018-12-31, filed 2019-02-13

Cove Street Capital disclosed 100 US equity positions worth $772.9m in its Q4 2018 13F filing. Its largest position is TIGO at 6.5% of the reported book, followed by VSAT and CMP. Versus Q3 2018 it opened 6 new positions, added to 27, reduced 38 and exited 4.

$773m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
100
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
6.5%
Largest position
The largest single position as a share of the reported equity book.
42.8%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
35
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 2018: 6 new, 27 added, 38 reduced, 4 exited

50 of 100
TIGO MILLICOM INTL CELLULAR S ACommunication Services6.5%$49.9m783,653+7.5%added
VSAT VIASAT INCTechnology6.0%$46.4m786,298−5.4%reduced
CMP COMPASS MINERALS INTL INCBasic Materials5.0%$38.7m928,780+136%added
TGNA TEGNA INC–4.4%$33.8m3.11m−18%reduced
AVID TECHNOLOGY INC no ticker–4.0%$30.8m6.48m+3.2%added
SSP SCRIPPS E W CO OHIOCommunication Services4.0%$30.8m1.96m−37%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–3.8%$29.3m1.27m−1.1%reduced
GPX GP STRATEGIES CORP–3.6%$27.9m2.21m+26%added
INTLUSD INTL FCSTONE INC–2.8%$21.6m590,316+12%added
UFPT UFP TECHNOLOGIES INCHealthcare2.8%$21.4m712,8640.0%held
SPB SPECTRUM BRANDS HLDGS INC NEConsumer Defensive2.7%$20.8m493,425+104%added
COLFAX CORP no ticker–2.4%$18.7m896,514+40%added
YELP YELP INCCommunication Services2.4%$18.7m534,200–new
WAIREUR WESCO AIRCRAFT HLDGS INC–2.4%$18.2m2.30m+42%added
HALLUSD HALLMARK FINL SVCS INC–2.3%$17.8m1.66m−1.0%reduced
CSUUSD CAPITAL SR LIVING CORP–2.3%$17.8m2.61m−2.0%reduced
GTT1USD GTT COMMUNICATIONS INC–2.2%$17.3m733,047−8.3%reduced
CSW CSW INDUSTRIALS INCIndustrials2.0%$15.7m325,324−4.0%reduced
AVD AMERICAN VANGUARD CORPBasic Materials2.0%$15.7m1.03m+7.4%added
PDCOEUR PATTERSON COS INC–2.0%$15.6m791,137+5.8%added
DNOW DNOW INCIndustrials2.0%$15.5m1.33m+6.8%added
MIC2EUR MACQUARIE INFRASTRUCTURE COR–2.0%$15.2m414,980−6.9%reduced
TUP TUPPERWARE BRANDS CORP–1.9%$14.8m468,237−43%reduced
ATUEUR ACTUANT CORP–1.8%$14.2m678,065+57%added
SMART & FINAL STORES INC no ticker–1.8%$14.0m2.95m+38%added
YUSD ALLEGHANY CORP DEL–1.5%$11.4m18,324+1.0%added
HSIC HENRY SCHEIN INCHealthcare1.4%$10.6m135,078+8.0%added
PANDORA MEDIA INC no ticker–1.3%$10.0m1.23m−45%reduced
TASTUSD CARROLS RESTAURANT GROUP INC–1.2%$9.4m958,063+3.1%added
HP5A EQUITY COMWLTH–1.2%$9.1m302,200−18%reduced
CTLEUR CENTURYLINK INC–1.0%$7.7m507,611+0.8%added
QVCG QVC GROUP INCConsumer Cyclical1.0%$7.6m389,983−15%reduced
JPM JPMORGAN CHASE & COFinancial Services0.9%$7.3m75,080−3.3%reduced
MAMS MAM SOFTWARE GROUP INC–0.9%$7.3m919,3350.0%held
BNY BANK OF NY MELLON CORPFinancial Services0.9%$6.9m147,315−5.9%reduced
AXALTA COATING SYS LTD no ticker–0.9%$6.9m293,167−23%reduced
LIBERTY MEDIA CORP DEL no ticker–0.9%$6.7m182,767−28%reduced
JEF JEFFERIES FINANCIAL GROUP INFinancial Services0.8%$6.2m357,958−18%reduced
BELMOND LTD no ticker–0.7%$5.6m223,224−81%reduced
GEC GREAT ELM CAP GROUP INC–0.7%$5.2m1.52m0.0%held
FMC FMC CORPBasic Materials0.6%$4.9m66,384−19%reduced
DOWDUPONT INC no ticker–0.6%$4.8m89,700+31%added
VIAB VIACOM INC NEW–0.6%$4.7m181,040−9.2%reduced
AYI ACUITY INCIndustrials0.5%$3.7m32,524−40%reduced
LIBERTY GLOBAL PLC no ticker–0.4%$3.2m151,065−46%reduced
TEL TE CONNECTIVITY LTDTechnology0.4%$2.9m38,191−16%reduced
SGU STAR GROUP L PEnergy0.3%$2.6m276,150+11%added
Carbon Energy Corporation no ticker–0.3%$2.5m267,3300.0%held
GE GENERAL ELECTRIC COIndustrials0.3%$2.2m290,200−46%reduced
EVLVUSD EVINE LIVE INC–0.3%$2.2m5.40m−2.5%reduced

Exited since Q3 2018

4 rows
JCI JOHNSON CONTROLS INTERNATION0.4%$4.0m
OPY OPPENHEIMER HLDGS INC0.1%$1.3m
OUT OUTFRONT MEDIA INC0.01%$138k
CTT1USD CATCHMARK TIMBER TR INC0.0%$27.0k

Sector mix

  • Unclassified55.2%
  • Communication Services13.0%
  • Basic Materials7.8%
  • Technology6.7%
  • Industrials5.3%
  • Healthcare4.2%
  • Financial Services3.0%
  • Consumer Defensive2.7%
  • Consumer Cyclical1.5%
  • Energy0.5%
  • Utilities0.1%
  • Real Estate0.1%

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