WhaleCreep

Cove Street Capital 13F holdings, Q1 2019

Long-only investorSEC filingsCompare with another fundHoldings as of 2019-03-31, filed 2019-05-14

Cove Street Capital disclosed 97 US equity positions worth $817.1m in its Q1 2019 13F filing. Its largest position is VSAT at 7.0% of the reported book, followed by CMP and TIGO. Versus Q4 2018 it opened 5 new positions, added to 31, reduced 32 and exited 8.

$817m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
97
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
7.0%
Largest position
The largest single position as a share of the reported equity book.
44.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
34
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 Q4 2018: 5 new, 31 added, 32 reduced, 8 exited

50 of 97
VSAT VIASAT INCTechnology7.0%$56.8m733,031−6.8%reduced
CMP COMPASS MINERALS INTL INCBasic Materials5.6%$45.9m843,666−9.2%reduced
TIGO MILLICOM INTL CELLULAR S ACommunication Services5.6%$45.7m751,446−4.1%reduced
AVID TECHNOLOGY INC no ticker–5.1%$41.8m5.61m−13%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–4.1%$33.2m1.21m−5.0%reduced
TGNA TEGNA INC–3.7%$30.4m2.15m−31%reduced
GPX GP STRATEGIES CORP–3.4%$27.9m2.30m+3.8%added
COLFAX CORP no ticker–3.3%$27.1m913,925+1.9%added
UFPT UFP TECHNOLOGIES INCHealthcare3.3%$26.9m720,344+1.0%added
SPB SPECTRUM BRANDS HLDGS INC NEConsumer Defensive3.2%$26.3m480,185−2.7%reduced
WAIREUR WESCO AIRCRAFT HLDGS INC–2.7%$22.2m2.52m+9.7%added
INTLUSD INTL FCSTONE INC–2.7%$22.0m568,838−3.6%reduced
SSP SCRIPPS E W CO OHIOCommunication Services2.4%$19.6m933,327−52%reduced
HALLUSD HALLMARK FINL SVCS INC–2.1%$17.5m1.69m+1.4%added
DNOW DNOW INCIndustrials2.1%$17.3m1.24m−6.9%reduced
CSW CSW INDUSTRIALS INCIndustrials2.1%$17.3m302,124−7.1%reduced
GTT1USD GTT COMMUNICATIONS INC–2.1%$17.2m496,708−32%reduced
AVD AMERICAN VANGUARD CORPBasic Materials2.1%$16.8m978,161−5.3%reduced
MIC2EUR MACQUARIE INFRASTRUCTURE COR–2.0%$16.5m401,080−3.3%reduced
PDCOEUR PATTERSON COS INC–2.0%$16.3m743,737−6.0%reduced
ATUEUR ACTUANT CORP–1.9%$15.5m636,115−6.2%reduced
SMART & FINAL STORES INC no ticker–1.8%$15.1m3.06m+3.6%added
YELP YELP INCCommunication Services1.8%$14.4m416,100−22%reduced
CSUUSD CAPITAL SR LIVING CORP–1.5%$12.5m3.14m+20%added
HP5A EQUITY COMWLTH–1.4%$11.8m360,800+19%added
AXALTA COATING SYS LTD no ticker–1.4%$11.4m450,383+54%added
TUP TUPPERWARE BRANDS CORP–1.4%$11.3m440,064−6.0%reduced
LIBERTY MEDIA CORP DEL no ticker–1.3%$10.6m277,174+52%added
YUSD ALLEGHANY CORP DEL–1.3%$10.6m17,230−6.0%reduced
TASTUSD CARROLS RESTAURANT GROUP INC–1.1%$8.8m880,357−8.1%reduced
HSIC HENRY SCHEIN INCHealthcare1.0%$8.5m140,800+4.2%added
MAMS MAM SOFTWARE GROUP INC–1.0%$8.0m939,335+2.2%added
DOWDUPONT INC no ticker–0.9%$7.6m141,900+58%added
CTLEUR CENTURYLINK INC–0.9%$7.6m629,840+24%added
JPM JPMORGAN CHASE & COFinancial Services0.9%$7.3m72,234−3.8%reduced
AYI ACUITY INCIndustrials0.8%$6.8m56,515+74%added
GEC GREAT ELM CAP GROUP INC–0.8%$6.5m1.52m0.0%held
VIAB VIACOM INC NEW–0.8%$6.3m225,513+25%added
BNY BANK OF NY MELLON CORPFinancial Services0.7%$6.0m119,715−19%reduced
FMC FMC CORPBasic Materials0.7%$6.0m78,431+18%added
QVCG QVC GROUP INCConsumer Cyclical0.7%$5.7m357,473−8.3%reduced
JEF JEFFERIES FINANCIAL GROUP INFinancial Services0.6%$4.6m244,262−32%reduced
MAT MATTEL INCConsumer Cyclical0.5%$4.2m323,000+95%added
LIBERTY GLOBAL PLC no ticker–0.5%$4.0m160,565+6.3%added
GE GENERAL ELECTRIC COIndustrials0.5%$3.7m369,500+27%added
TEL TE CONNECTIVITY LTDTechnology0.4%$3.1m38,060−0.3%held
ITRN ITURAN LOCATION AND CONTROLTechnology0.3%$2.7m79,678+77%added
CHEROKEE INC DEL NEW no ticker–0.3%$2.7m3.91m+41%added
Carbon Energy Corporation no ticker–0.3%$2.5m267,3300.0%held
EVLVUSD EVINE LIVE INC–0.3%$2.4m5.09m−5.9%reduced

Exited since Q4 2018

8 rows
PANDORA MEDIA INC no ticker1.3%$10.0m
BELMOND LTD no ticker0.7%$5.6m
ESTERLINE TECHNOLOGIES CORP no ticker0.05%$401k
CSWC CAPITAL SOUTHWEST CORP0.04%$323k
Computer Services Inc no ticker0.02%$124k
STT STATE STR CORP0.01%$95.0k
COF CAPITAL ONE FINL CORP0.0%$15.0k
WPXUSD WPX ENERGY INC0.0%$4.0k

Sector mix

  • Unclassified55.2%
  • Communication Services10.0%
  • Basic Materials8.6%
  • Technology7.8%
  • Industrials6.1%
  • Healthcare4.4%
  • Consumer Defensive3.2%
  • Financial Services2.4%
  • Consumer Cyclical1.6%
  • Energy0.4%
  • 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