WhaleCreep

Cove Street Capital 13F holdings, Q2 2020

Long-only investorSEC filingsCompare with another fundHoldings as of 2020-06-30, filed 2020-08-13

Cove Street Capital disclosed 74 US equity positions worth $505.3m in its Q2 2020 13F filing. Its largest position is VSAT at 6.3% of the reported book, followed by CMP and MIC2EUR. Versus Q1 2020 it opened 6 new positions, added to 14, reduced 48 and exited 30.

$505m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
74
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
6.3%
Largest position
The largest single position as a share of the reported equity book.
46.0%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
31
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 2020: 6 new, 14 added, 48 reduced, 30 exited

50 of 74
VSAT VIASAT INCTechnology6.3%$31.9m830,686+0.3%held
CMP COMPASS MINERALS INTL INCBasic Materials6.0%$30.2m618,729−22%reduced
MIC2EUR MACQUARIE INFRASTRUCTURE COR–5.4%$27.5m895,546−1.2%reduced
TIGO MILLICOM INTL CELLULAR S ACommunication Services5.4%$27.1m1.04m+22%added
COLFAX CORP no ticker–5.0%$25.5m914,532−18%reduced
GPX GP STRATEGIES CORP–4.5%$22.8m2.65m+7.3%added
SSP SCRIPPS E W CO OHIOCommunication Services4.2%$21.4m2.45m−0.7%reduced
INTLUSD INTL FCSTONE INC–3.6%$18.2m330,663−22%reduced
AXALTA COATING SYS LTD no ticker–2.8%$14.3m633,181−40%reduced
AYI ACUITY INCIndustrials2.7%$13.5m141,198−16%reduced
8HH AVANOS MED INC–2.6%$13.3m450,816−44%reduced
CVLT COMMVAULT SYSTEMS INCTechnology2.6%$13.2m341,900−5.3%reduced
PAHC PHIBRO ANIMAL HEALTH CORPHealthcare2.6%$13.2m500,873−16%reduced
SPB SPECTRUM BRANDS HLDGS INC NEConsumer Defensive2.5%$12.8m278,753−16%reduced
UFPT UFP TECHNOLOGIES INCHealthcare2.5%$12.5m283,184−17%reduced
AVID TECHNOLOGY INC no ticker–2.5%$12.5m1.71m−7.5%reduced
PDCOEUR PATTERSON COS INC–2.4%$12.2m553,539+6.0%added
WPXUSD WPX ENERGY INC–2.3%$11.5m1.80m–new
SXI STANDEX INTL CORPIndustrials2.2%$11.0m190,572−0.1%held
YELP YELP INCCommunication Services2.0%$10.1m438,464−1.2%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–2.0%$10.0m570,086−3.4%reduced
TGNA TEGNA INC–2.0%$9.9m890,916+99%added
SIXEUR SIX FLAGS ENTMT CORP NEW–1.8%$9.2m477,300−29%reduced
GCPEUR GCP APPLIED TECHNOLOGIES INC–1.7%$8.7m466,400+2.0%added
SKAA SKECHERS U S A INC–1.7%$8.6m272,600+64%added
MWA Mueller Water Products Inc.Industrials1.7%$8.5m902,611+8.4%added
AZZ AZZ INCIndustrials1.5%$7.5m218,900–new
EPAC ENERPAC TOOL GROUP CORPIndustrials1.3%$6.5m367,595−9.7%reduced
VMD VIEMED HEALTHCARE INCHealthcare1.2%$6.2m642,216+328%added
CTLEUR CENTURYLINK INC–1.2%$5.9m592,492−13%reduced
LIBERTY MEDIA CORP DEL no ticker–1.2%$5.9m170,825−7.5%reduced
CNK CINEMARK HLDGS INCCommunication Services1.1%$5.5m478,027−16%reduced
HSIC HENRY SCHEIN INCHealthcare1.1%$5.3m91,346−8.5%reduced
YUSD ALLEGHANY CORP DEL–1.0%$5.1m10,399−3.4%reduced
FMC FMC CORPBasic Materials0.9%$4.7m47,550−20%reduced
LTRPAUSD LIBERTY TRIPADVISOR HLDGS IN–0.9%$4.4m2.08m−13%reduced
GEC GREAT ELM CAP GROUP INC–0.8%$4.0m1.73m+0.8%added
BRK/B BERKSHIRE HATHAWAY INC DEL–0.7%$3.5m19,600−8.4%reduced
WFC WELLS FARGO & COFinancial Services0.6%$3.2m125,400+214%added
DLHC DLH HLDGS CORPIndustrials0.5%$2.8m376,943+2.7%added
TRNS TRANSCAT INCIndustrials0.4%$2.2m86,009+105%added
BNY BANK OF NY MELLON CORPFinancial Services0.4%$2.1m55,265−22%reduced
CSUUSD CAPITAL SR LIVING CORP–0.4%$2.0m2.77m−26%reduced
GE GENERAL ELECTRIC COIndustrials0.4%$1.9m281,200+2.4%added
CLH CLEAN HARBORS INCIndustrials0.4%$1.8m30,531−35%reduced
AVD AMERICAN VANGUARD CORPBasic Materials0.3%$1.6m113,055−77%reduced
SENSATA TECHNOLOGIES HLDG PL no ticker–0.3%$1.5m39,989−88%reduced
LYV LIVE NATION ENTERTAINMENT INCommunication Services0.3%$1.3m28,600–new
MSM MSC INDL DIRECT INCIndustrials0.3%$1.3m17,371−5.5%reduced
NTIC NORTHERN TECHNOLOGIES INTL C–0.2%$1.1m135,398−4.4%reduced

Exited since Q1 2020

30 rows
DCI DONALDSON INC1.0%$5.0m
HALLUSD HALLMARK FINL SVCS INC0.5%$2.3m
JPM JPMORGAN CHASE & CO0.4%$2.1m
EM7 EMERALD HOLDING INC0.4%$2.0m
GLOBAL INDTY LTD CAYMAN no ticker0.2%$1.1m
The Monarch Cement Company no ticker0.2%$1.1m
DNOW DNOW INC0.1%$664k
ANIK ANIKA THERAPEUTICS INC0.1%$578k
LYTS LSI INDS INC OHIO0.1%$529k
TRIP TRIPADVISOR INC0.1%$515k
SIF SIFCO INDS INC0.10%$483k
FRPH FRP HLDGS INC0.10%$468k
GOLD GOLD COM INC0.09%$453k
GIFI GULF IS FABRICATION INC0.08%$375k
FRMO Corporation no ticker0.07%$356k
ALJ REGL HLDGS INC no ticker0.06%$305k
HNRG HALLADOR ENERGY COMPANY0.06%$285k
ITRN ITURAN LOCATION AND CONTROL0.06%$283k
BG3 BIG 5 SPORTING GOODS CORP0.06%$278k
SMHI SEACOR MARINE HLDGS INC0.06%$278k
SEACOR HOLDINGS INC no ticker0.06%$270k
INSE INSPIRED ENTMT INC0.05%$266k
SONAUSD SOUTHERN NATL BANCORP OF VA0.05%$255k
PARR PAR PACIFIC HOLDINGS INC0.05%$248k
CARS CARS COM INC0.04%$215k
PATRIOT TRANSN HLDG INC no ticker0.04%$213k
EXPE EXPEDIA GROUP INC0.04%$193k
TPHS TRINITY PL HLDGS INC0.03%$164k
OKE ONEOK INC NEW0.03%$157k
SIRI SIRIUS XM HOLDINGS INC0.0%$7.0k

Sector mix

  • Unclassified48.0%
  • Communication Services12.9%
  • Industrials11.3%
  • Technology8.9%
  • Healthcare7.5%
  • Basic Materials7.2%
  • Consumer Defensive2.7%
  • Financial Services1.1%
  • Energy0.2%
  • Consumer Cyclical0.2%

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