WhaleCreep

Cove Street Capital 13F holdings, Q3 2020

Long-only investorSEC filingsCompare with another fundHoldings as of 2020-09-30, filed 2020-11-13

Cove Street Capital disclosed 74 US equity positions worth $528.3m in its Q3 2020 13F filing. Its largest position is CMP at 6.8% of the reported book, followed by VSAT and TIGO. Versus Q2 2020 it opened 9 new positions, added to 17, reduced 37 and exited 9.

$528m
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.
6.8%
Largest position
The largest single position as a share of the reported equity book.
46.8%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
30
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 2020: 9 new, 17 added, 37 reduced, 9 exited

50 of 74
CMP COMPASS MINERALS INTL INCBasic Materials6.8%$36.0m606,123−2.0%reduced
VSAT VIASAT INCTechnology6.8%$35.9m1.04m+26%added
TIGO MILLICOM INTL CELLULAR S ACommunication Services5.5%$29.0m958,640−7.4%reduced
MIC2EUR MACQUARIE INFRASTRUCTURE COR–5.1%$27.1m1.01m+12%added
GPX GP STRATEGIES CORP–4.7%$24.9m2.58m−2.6%reduced
COLFAX CORP no ticker–4.6%$24.5m781,300−15%reduced
SSP SCRIPPS E W CO OHIOCommunication Services4.3%$22.7m1.99m−19%reduced
SNEX STONEX GROUP INCFinancial Services3.2%$16.7m325,763–new
PQGEUR PQ GROUP HLDGS INC–3.1%$16.2m1.58m–new
TPR TAPESTRY INCConsumer Cyclical2.7%$14.2m905,671+1247%added
CVLT COMMVAULT SYSTEMS INCTechnology2.6%$14.0m342,620+0.2%held
AVID TECHNOLOGY INC no ticker–2.6%$13.6m1.59m−7.0%reduced
8HH AVANOS MED INC–2.5%$13.3m400,689−11%reduced
AYI ACUITY INCIndustrials2.5%$13.2m128,481−9.0%reduced
SKAA SKECHERS U S A INC–2.4%$12.9m425,600+56%added
AZZ AZZ INCIndustrials2.3%$12.2m357,870+63%added
SXI STANDEX INTL CORPIndustrials2.3%$12.2m205,984+8.1%added
PAHC PHIBRO ANIMAL HEALTH CORPHealthcare2.1%$10.8m623,361+24%added
TGNA TEGNA INC–2.0%$10.8m915,821+2.8%added
KBR KBR INCIndustrials2.0%$10.5m469,000–new
WPXUSD WPX ENERGY INC–1.9%$10.0m2.04m+13%added
SIXEUR SIX FLAGS ENTMT CORP NEW–1.8%$9.7m477,970+0.1%held
SPB SPECTRUM BRANDS HLDGS INC NEConsumer Defensive1.8%$9.5m165,727−41%reduced
GCPEUR GCP APPLIED TECHNOLOGIES INC–1.8%$9.3m444,900−4.6%reduced
TRNS TRANSCAT INCIndustrials1.7%$9.2m315,117+266%added
MWA Mueller Water Products Inc.Industrials1.7%$9.0m862,117−4.5%reduced
UFPT UFP TECHNOLOGIES INCHealthcare1.7%$8.8m212,080−25%reduced
YUSD ALLEGHANY CORP DEL–1.5%$8.1m15,573+50%added
HCCIUSD HERITAGE CRYSTAL CLEAN INC–1.5%$8.0m598,415+5.0%added
LFCR LIFECORE BIOMEDICAL INCHealthcare1.2%$6.4m660,182+840%added
CTLEUR CENTURYLINK INC–1.1%$5.8m579,135−2.3%reduced
LIBERTY MEDIA CORP DEL no ticker–1.0%$5.5m165,374−3.2%reduced
HSIC HENRY SCHEIN INCHealthcare1.0%$5.2m87,789−3.9%reduced
VMD VIEMED HEALTHCARE INCHealthcare0.9%$4.8m557,416−13%reduced
CNK CINEMARK HLDGS INCCommunication Services0.9%$4.5m454,920−4.8%reduced
FMC FMC CORPBasic Materials0.9%$4.5m42,431−11%reduced
GEC GREAT ELM CAP GROUP INC–0.8%$4.1m1.73m−0.1%held
BRK/B BERKSHIRE HATHAWAY INC DEL–0.7%$3.9m18,450−5.9%reduced
AXALTA COATING SYS LTD no ticker–0.7%$3.5m156,246−75%reduced
LTRPAUSD LIBERTY TRIPADVISOR HLDGS IN–0.6%$3.3m1.88m−9.7%reduced
GBLI GLOBAL INDEMNITY GROUP LLC–0.6%$3.1m148,600–new
WFC WELLS FARGO & COFinancial Services0.6%$2.9m123,800−1.3%reduced
DLHC DLH HLDGS CORPIndustrials0.5%$2.8m385,857+2.4%added
BNY BANK OF NY MELLON CORPFinancial Services0.4%$1.9m55,565+0.5%added
CLH CLEAN HARBORS INCIndustrials0.3%$1.7m30,751+0.7%added
CSUUSD CAPITAL SR LIVING CORP–0.3%$1.5m2.33m−16%reduced
FLIR FLIR SYS INC–0.3%$1.4m39,030–new
SENSATA TECHNOLOGIES HLDG PL no ticker–0.2%$1.3m29,482−26%reduced
RXNEUR REXNORD CORP–0.2%$1.0m33,785−7.9%reduced
AGNC Investment Corp 6.125 no ticker–0.2%$885k40,0000.0%held

Exited since Q2 2020

9 rows
INTLUSD INTL FCSTONE INC3.6%$18.2m
PDCOEUR PATTERSON COS INC2.4%$12.2m
YELP YELP INC2.0%$10.1m
EPAC ENERPAC TOOL GROUP CORP1.3%$6.5m
GE GENERAL ELECTRIC CO0.4%$1.9m
AVD AMERICAN VANGUARD CORP0.3%$1.6m
APEX GLOBAL BRANDS INC no ticker0.2%$1.1m
PCH POTLATCHDELTIC CORPORATION0.04%$202k
CSW CSW INDUSTRIALS INC0.0%$14.0k

Sector mix

  • Unclassified42.8%
  • Industrials13.6%
  • Communication Services10.8%
  • Technology9.4%
  • Basic Materials7.7%
  • Healthcare6.9%
  • Financial Services4.1%
  • Consumer Cyclical2.7%
  • Consumer Defensive1.9%
  • Energy0.2%
  • Real Estate0.01%

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