WhaleCreep

Cove Street Capital 13F holdings, Q3 2019

Long-only investorSEC filingsCompare with another fundHoldings as of 2019-09-30, filed 2019-11-13

Cove Street Capital disclosed 95 US equity positions worth $715.2m in its Q3 2019 13F filing. Its largest position is CMP at 5.7% of the reported book, followed by TIGO and COLFAX CORP. Versus Q2 2019 it opened 10 new positions, added to 15, reduced 47 and exited 12.

$715m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
95
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.7%
Largest position
The largest single position as a share of the reported equity book.
42.3%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
36
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 2019: 10 new, 15 added, 47 reduced, 12 exited

50 of 95
CMP COMPASS MINERALS INTL INCBasic Materials5.7%$40.5m717,753+2.7%added
TIGO MILLICOM INTL CELLULAR S ACommunication Services5.5%$39.5m810,899−2.8%reduced
COLFAX CORP no ticker–5.0%$36.0m1.24m−5.6%reduced
VSAT VIASAT INCTechnology4.8%$34.6m459,993+0.1%held
SSP SCRIPPS E W CO OHIOCommunication Services4.6%$32.9m2.48m+130%added
GPX GP STRATEGIES CORP–4.2%$30.2m2.35m+10%added
HCCIUSD HERITAGE CRYSTAL CLEAN INC–3.7%$26.3m990,831−3.2%reduced
UFPT UFP TECHNOLOGIES INCHealthcare3.0%$21.5m556,327−11%reduced
HALLUSD HALLMARK FINL SVCS INC–2.9%$20.8m1.09m−31%reduced
INTLUSD INTL FCSTONE INC–2.8%$20.3m494,526−7.4%reduced
LOGMEUR LOGMEIN INC–2.6%$18.2m257,000–new
TGNA TEGNA INC–2.5%$18.1m1.16m−5.2%reduced
SPB SPECTRUM BRANDS HLDGS INC NEConsumer Defensive2.4%$17.3m328,522−23%reduced
PDCOEUR PATTERSON COS INC–2.3%$16.6m932,378+22%added
YELP YELP INCCommunication Services2.3%$16.1m464,164−6.3%reduced
CSUUSD CAPITAL SR LIVING CORP–2.3%$16.1m3.68m+5.5%added
MIC2EUR MACQUARIE INFRASTRUCTURE COR–2.1%$15.4m389,480−11%reduced
HP5A EQUITY COMWLTH–2.1%$14.8m431,340−3.7%reduced
AVD AMERICAN VANGUARD CORPBasic Materials2.0%$14.0m892,835−2.9%reduced
WAIREUR WESCO AIRCRAFT HLDGS INC–1.9%$13.6m1.23m−48%reduced
CVLT COMMVAULT SYSTEMS INCTechnology1.9%$13.2m296,000–new
AVID TECHNOLOGY INC no ticker–1.8%$13.0m2.10m−27%reduced
ATUEUR ACTUANT CORP–1.8%$12.8m582,915−6.2%reduced
PAHC PHIBRO ANIMAL HEALTH CORPHealthcare1.7%$12.5m586,056+164%added
SXI STANDEX INTL CORPIndustrials1.7%$12.0m164,202+36%added
DNOW DNOW INCIndustrials1.6%$11.5m1.00m−1.4%reduced
LIBERTY MEDIA CORP DEL no ticker–1.5%$10.6m255,358−16%reduced
CTLEUR CENTURYLINK INC–1.5%$10.6m847,875−18%reduced
AXALTA COATING SYS LTD no ticker–1.4%$10.3m340,578−25%reduced
YUSD ALLEGHANY CORP DEL–1.4%$10.2m12,823−22%reduced
CSW CSW INDUSTRIALS INCIndustrials1.4%$9.7m140,194−43%reduced
AYI ACUITY INCIndustrials1.2%$8.3m61,420+9.3%added
GCPEUR GCP APPLIED TECHNOLOGIES INC–1.1%$8.2m426,500–new
MWA Mueller Water Products Inc.Industrials1.1%$8.2m729,456−0.6%reduced
HSIC HENRY SCHEIN INCHealthcare1.0%$7.1m112,413−14%reduced
TASTUSD CARROLS RESTAURANT GROUP INC–0.9%$6.7m810,700−18%reduced
GEC GREAT ELM CAP GROUP INC–0.9%$6.4m1.74m+9.8%added
JPM JPMORGAN CHASE & COFinancial Services0.9%$6.3m53,448−23%reduced
VIAB VIACOM INC NEW–0.9%$6.1m255,226+12%added
FMC FMC CORPBasic Materials0.8%$5.8m66,145−17%reduced
TPR TAPESTRY INCConsumer Cyclical0.8%$5.6m214,269+522%added
BNY BANK OF NY MELLON CORPFinancial Services0.6%$4.0m88,515−18%reduced
QVCG QVC GROUP INCConsumer Cyclical0.5%$3.4m332,145−32%reduced
TEL TE CONNECTIVITY LTDTechnology0.5%$3.3m35,350−7.1%reduced
MAT MATTEL INCConsumer Cyclical0.4%$3.1m269,600−21%reduced
LIBERTY GLOBAL PLC no ticker–0.4%$3.1m123,725−23%reduced
GE GENERAL ELECTRIC COIndustrials0.4%$2.7m302,525−18%reduced
8HH AVANOS MED INC–0.3%$2.2m58,852–new
APEX GLOBAL BRANDS INC no ticker–0.3%$1.8m1.26m–new
NTIC NORTHERN TECHNOLOGIES INTL C–0.2%$1.7m141,667+240%added

Exited since Q2 2019

12 rows
MAMS MAM SOFTWARE GROUP INC1.4%$10.5m
GTT1USD GTT COMMUNICATIONS INC1.3%$10.0m
TUP TUPPERWARE BRANDS CORP1.2%$8.9m
JEF JEFFERIES FINANCIAL GROUP IN0.5%$4.1m
DD DUPONT DE NEMOURS INC0.5%$3.5m
DOW DOW HLDGS INC0.3%$2.3m
CHKEEUR APEX GLOBAL BRANDS INC0.2%$1.6m
WHG WESTWOOD HLDGS GROUP INC0.09%$704k
GSE SYS INC no ticker0.04%$330k
CSS INDS INC no ticker0.04%$293k
CTVA CORTEVA INC0.03%$265k
Wright Investors Service Holding no ticker0.0%$27.0k

Sector mix

  • Unclassified51.0%
  • Communication Services12.6%
  • Basic Materials8.6%
  • Industrials8.0%
  • Technology7.5%
  • Healthcare5.9%
  • Consumer Defensive2.4%
  • Consumer Cyclical1.9%
  • Financial Services1.5%
  • Energy0.3%
  • 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