WhaleCreep

Cove Street Capital 13F holdings, Q2 2019

Long-only investorSEC filingsCompare with another fundHoldings as of 2019-06-30, filed 2019-08-13

Cove Street Capital disclosed 97 US equity positions worth $775.1m in its Q2 2019 13F filing. Its largest position is TIGO at 6.0% of the reported book, followed by CMP and VSAT. Versus Q1 2019 it opened 8 new positions, added to 28, reduced 44 and exited 8.

$775m
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.
6.0%
Largest position
The largest single position as a share of the reported equity book.
41.2%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
37
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 2019: 8 new, 28 added, 44 reduced, 8 exited

50 of 97
TIGO MILLICOM INTL CELLULAR S ACommunication Services6.0%$46.5m834,255+11%added
CMP COMPASS MINERALS INTL INCBasic Materials5.0%$38.4m698,566−17%reduced
VSAT VIASAT INCTechnology4.8%$37.2m459,689−37%reduced
COLFAX CORP no ticker–4.7%$36.7m1.31m+43%added
GPX GP STRATEGIES CORP–4.1%$32.1m2.13m−7.3%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–3.5%$26.9m1.02m−15%reduced
WAIREUR WESCO AIRCRAFT HLDGS INC–3.4%$26.4m2.38m−5.9%reduced
AVID TECHNOLOGY INC no ticker–3.4%$26.2m2.87m−49%reduced
UFPT UFP TECHNOLOGIES INCHealthcare3.3%$25.9m621,827−14%reduced
SPB SPECTRUM BRANDS HLDGS INC NEConsumer Defensive3.0%$23.0m427,513−11%reduced
HALLUSD HALLMARK FINL SVCS INC–2.9%$22.3m1.57m−7.0%reduced
INTLUSD INTL FCSTONE INC–2.7%$21.1m534,038−6.1%reduced
TGNA TEGNA INC–2.4%$18.6m1.23m−43%reduced
MIC2EUR MACQUARIE INFRASTRUCTURE COR–2.3%$17.8m438,080+9.2%added
PDCOEUR PATTERSON COS INC–2.3%$17.6m766,937+3.1%added
CSUUSD CAPITAL SR LIVING CORP–2.3%$17.5m3.48m+11%added
YELP YELP INCCommunication Services2.2%$16.9m495,264+19%added
CSW CSW INDUSTRIALS INCIndustrials2.2%$16.7m244,954−19%reduced
SSP SCRIPPS E W CO OHIOCommunication Services2.1%$16.5m1.08m+15%added
ATUEUR ACTUANT CORP–2.0%$15.4m621,615−2.3%reduced
DNOW DNOW INCIndustrials1.9%$15.0m1.02m−18%reduced
HP5A EQUITY COMWLTH–1.9%$14.6m447,940+24%added
AVD AMERICAN VANGUARD CORPBasic Materials1.8%$14.2m919,261−6.0%reduced
AXALTA COATING SYS LTD no ticker–1.7%$13.5m452,427+0.5%held
CTLEUR CENTURYLINK INC–1.6%$12.1m1.03m+64%added
LIBERTY MEDIA CORP DEL no ticker–1.5%$11.5m305,257+10%added
YUSD ALLEGHANY CORP DEL–1.4%$11.2m16,390−4.9%reduced
MAMS MAM SOFTWARE GROUP INC–1.4%$10.5m1.04m+11%added
GTT1USD GTT COMMUNICATIONS INC–1.3%$10.0m569,927+15%added
HSIC HENRY SCHEIN INCHealthcare1.2%$9.2m130,989−7.0%reduced
TUP TUPPERWARE BRANDS CORP–1.2%$8.9m468,659+6.5%added
TASTUSD CARROLS RESTAURANT GROUP INC–1.1%$8.9m984,232+12%added
SXI STANDEX INTL CORPIndustrials1.1%$8.8m120,493–new
JPM JPMORGAN CHASE & COFinancial Services1.0%$7.8m69,434−3.9%reduced
AYI ACUITY INCIndustrials1.0%$7.8m56,198−0.6%reduced
MWA Mueller Water Products Inc.Industrials0.9%$7.2m733,581–new
PAHC PHIBRO ANIMAL HEALTH CORPHealthcare0.9%$7.0m221,856–new
VIAB VIACOM INC NEW–0.9%$6.8m228,172+1.2%added
GEC GREAT ELM CAP GROUP INC–0.9%$6.8m1.58m+4.0%added
FMC FMC CORPBasic Materials0.9%$6.6m79,433+1.3%added
QVCG QVC GROUP INCConsumer Cyclical0.8%$6.1m488,634+37%added
BNY BANK OF NY MELLON CORPFinancial Services0.6%$4.8m107,815−9.9%reduced
LIBERTY GLOBAL PLC no ticker–0.6%$4.3m160,5650.0%held
JEF JEFFERIES FINANCIAL GROUP INFinancial Services0.5%$4.1m214,800−12%reduced
GE GENERAL ELECTRIC COIndustrials0.5%$3.9m369,5000.0%held
MAT MATTEL INCConsumer Cyclical0.5%$3.8m343,100+6.2%added
TEL TE CONNECTIVITY LTDTechnology0.5%$3.6m38,0600.0%held
DD DUPONT DE NEMOURS INCBasic Materials0.5%$3.5m47,290–new
DOW DOW HLDGS INCBasic Materials0.3%$2.3m47,290–new
SGU STAR GROUP L PEnergy0.3%$2.3m229,800−7.5%reduced

Exited since Q1 2019

8 rows
SMART & FINAL STORES INC no ticker1.8%$15.1m
DOWDUPONT INC no ticker0.9%$7.6m
CHEROKEE INC DEL NEW no ticker0.3%$2.7m
EVLVUSD EVINE LIVE INC0.3%$2.4m
LILAB LIBERTY LATIN AMERICA LTD0.1%$1.2m
Dundee Corp CL A no ticker0.1%$821k
JG Boswell Company no ticker0.08%$670k
SWCHF SIERRA WIRELESS INC0.08%$618k

Sector mix

  • Unclassified54.1%
  • Communication Services10.5%
  • Basic Materials8.6%
  • Industrials8.2%
  • Technology5.6%
  • Healthcare5.5%
  • Consumer Defensive3.0%
  • Financial Services2.3%
  • Consumer Cyclical1.7%
  • Energy0.4%
  • Utilities0.1%
  • Real Estate0.07%

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