WhaleCreep

Cove Street Capital 13F holdings, Q4 2019

Long-only investorSEC filingsCompare with another fundHoldings as of 2019-12-31, filed 2020-02-13

Cove Street Capital disclosed 100 US equity positions worth $756.3m in its Q4 2019 13F filing. Its largest position is CMP at 6.6% of the reported book, followed by TIGO and COLFAX CORP. Versus Q3 2019 it opened 8 new positions, added to 16, reduced 40 and exited 3.

$756m
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.
6.6%
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.
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 2019: 8 new, 16 added, 40 reduced, 3 exited

50 of 100
CMP COMPASS MINERALS INTL INCBasic Materials6.6%$49.8m817,330+14%added
TIGO MILLICOM INTL CELLULAR S ACommunication Services5.5%$41.6m862,057+6.3%added
COLFAX CORP no ticker–5.2%$39.2m1.08m−13%reduced
SSP SCRIPPS E W CO OHIOCommunication Services5.1%$38.8m2.47m−0.1%held
VSAT VIASAT INCTechnology4.5%$34.1m466,007+1.3%added
GPX GP STRATEGIES CORP–4.2%$31.8m2.41m+2.3%added
MIC2EUR MACQUARIE INFRASTRUCTURE COR–3.1%$23.5m548,015+41%added
INTLUSD INTL FCSTONE INC–3.0%$23.0m471,288−4.7%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–2.6%$19.4m619,501−37%reduced
HALLUSD HALLMARK FINL SVCS INC–2.4%$18.5m1.05m−3.2%reduced
UFPT UFP TECHNOLOGIES INCHealthcare2.4%$18.3m368,970−34%reduced
AVID TECHNOLOGY INC no ticker–2.4%$17.9m2.09m−0.2%held
QVCG QVC GROUP INCConsumer Cyclical2.3%$17.2m2.04m+514%added
CVLT COMMVAULT SYSTEMS INCTechnology2.2%$16.7m373,000+26%added
PDCOEUR PATTERSON COS INC–2.2%$16.4m799,578−14%reduced
LTRPAUSD LIBERTY TRIPADVISOR HLDGS IN–2.1%$16.2m2.20m–new
YELP YELP INCCommunication Services2.1%$16.1m462,064−0.5%held
TGNA TEGNA INC–2.1%$15.9m951,819−18%reduced
HP5A EQUITY COMWLTH–2.0%$14.8m451,240+4.6%added
PAHC PHIBRO ANIMAL HEALTH CORPHealthcare2.0%$14.8m595,297+1.6%added
LOGMEUR LOGMEIN INC–1.9%$14.2m165,400−36%reduced
SPB SPECTRUM BRANDS HLDGS INC NEConsumer Defensive1.7%$13.0m202,547−38%reduced
AVD AMERICAN VANGUARD CORPBasic Materials1.7%$12.9m663,875−26%reduced
SXI STANDEX INTL CORPIndustrials1.6%$12.3m155,072−5.6%reduced
ATUEUR ACTUANT CORP–1.6%$11.9m458,042−21%reduced
LIBERTY MEDIA CORP DEL no ticker–1.5%$11.7m241,509−5.4%reduced
DNOW DNOW INCIndustrials1.5%$11.3m1.00m0.0%held
CSUUSD CAPITAL SR LIVING CORP–1.5%$11.3m3.65m−0.7%reduced
CTLEUR CENTURYLINK INC–1.3%$10.1m767,176−9.5%reduced
AXALTA COATING SYS LTD no ticker–1.3%$10.1m331,173−2.8%reduced
GCPEUR GCP APPLIED TECHNOLOGIES INC–1.3%$9.7m427,700+0.3%held
YUSD ALLEGHANY CORP DEL–1.2%$8.8m11,008−14%reduced
MWA Mueller Water Products Inc.Industrials1.2%$8.7m729,3170.0%held
8HH AVANOS MED INC–1.1%$8.6m255,503+334%added
AYI ACUITY INCIndustrials1.1%$8.5m61,293−0.2%held
HSIC HENRY SCHEIN INCHealthcare1.0%$7.4m110,270−1.9%reduced
FMC FMC CORPBasic Materials0.8%$6.2m61,749−6.6%reduced
JPM JPMORGAN CHASE & COFinancial Services0.8%$6.0m43,402−19%reduced
CSW CSW INDUSTRIALS INCIndustrials0.8%$6.0m77,580−45%reduced
GEC GREAT ELM CAP GROUP INC–0.8%$5.8m1.74m0.0%held
TASTUSD CARROLS RESTAURANT GROUP INC–0.7%$5.5m777,234−4.1%reduced
0VVB PARAMOUNT GLOBAL–0.7%$5.2m124,854–new
TPR TAPESTRY INCConsumer Cyclical0.7%$4.9m182,679−15%reduced
BNY BANK OF NY MELLON CORPFinancial Services0.6%$4.3m85,365−3.6%reduced
MAT MATTEL INCConsumer Cyclical0.5%$3.5m261,200−3.1%reduced
GE GENERAL ELECTRIC COIndustrials0.4%$3.3m297,400−1.7%reduced
WAIREUR WESCO AIRCRAFT HLDGS INC–0.4%$3.2m288,988−77%reduced
TEL TE CONNECTIVITY LTDTechnology0.4%$3.0m31,315−11%reduced
EMERALD EXPOSITIONS EVENTS I no ticker–0.4%$2.7m257,317–new
LIBERTY GLOBAL PLC no ticker–0.3%$2.2m96,565−22%reduced

Exited since Q3 2019

3 rows
VIAB VIACOM INC NEW0.9%$6.1m
AQUAUSD EVOQUA WATER TECHNOLOGIES CO0.1%$851k
CTGUSD COMPUTER TASK GROUP INC0.02%$167k

Sector mix

  • Unclassified49.8%
  • Communication Services13.0%
  • Basic Materials9.2%
  • Technology7.5%
  • Industrials7.4%
  • Healthcare5.5%
  • Consumer Cyclical3.9%
  • Consumer Defensive1.8%
  • Financial Services1.4%
  • Energy0.2%
  • 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