WhaleCreep

Cove Street Capital 13F holdings, Q1 2021

Long-only investorSEC filingsCompare with another fundHoldings as of 2021-03-31, filed 2021-05-25

Cove Street Capital disclosed 86 US equity positions worth $697.6m in its Q1 2021 13F filing. Its largest position is VSAT at 7.3% of the reported book, followed by CMP and TIGO. Versus Q4 2020 it opened 18 new positions, added to 29, reduced 26 and exited 12.

$698m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
86
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
7.3%
Largest position
The largest single position as a share of the reported equity book.
48.4%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
29
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 Q4 2020: 18 new, 29 added, 26 reduced, 12 exited

50 of 86
VSAT VIASAT INCTechnology7.3%$50.6m1.05m−4.0%reduced
CMP COMPASS MINERALS INTL INCBasic Materials6.5%$45.5m725,712+38%added
TIGO MILLICOM INTL CELLULAR S ACommunication Services5.3%$36.9m966,296+16%added
COLFAX CORP no ticker–5.1%$35.3m805,556+8.2%added
PQGEUR PQ GROUP HLDGS INC–4.8%$33.7m2.02m−8.7%reduced
GPX GP STRATEGIES CORP–4.7%$32.5m1.86m−4.7%reduced
KBR KBR INCIndustrials4.2%$29.1m757,781+39%added
WHITE MTNS INS GROUP LTD no ticker–3.8%$26.2m23,470+3.3%added
SKAA SKECHERS U S A INC–3.5%$24.3m583,216+49%added
SNEX STONEX GROUP INCFinancial Services3.4%$23.5m359,178+24%added
SSP SCRIPPS E W CO OHIOCommunication Services3.2%$22.4m1.16m−37%reduced
LUMN LUMEN TECHNOLOGIES INCCommunication Services2.8%$19.8m1.48m+57%added
VMD VIEMED HEALTHCARE INCHealthcare2.8%$19.4m1.92m+126%added
AZZ AZZ INCIndustrials2.7%$19.2m380,725+2.1%added
LFCR LIFECORE BIOMEDICAL INCHealthcare2.6%$17.8m1.68m+50%added
PAHC PHIBRO ANIMAL HEALTH CORPHealthcare2.4%$17.1m700,032+11%added
CVLT COMMVAULT SYSTEMS INCTechnology2.3%$16.3m253,243−5.1%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–2.3%$16.2m598,594+7.6%added
OPLN OPENLANE INCConsumer Cyclical2.3%$16.2m1.08m–new
SIXEUR SIX FLAGS ENTMT CORP NEW–2.3%$16.0m343,769−19%reduced
SXI STANDEX INTL CORPIndustrials2.0%$13.7m143,619−23%reduced
GCPEUR GCP APPLIED TECHNOLOGIES INC–1.7%$12.0m490,757+14%added
UFPT UFP TECHNOLOGIES INCHealthcare1.5%$10.5m211,502+7.4%added
CNX CNX RESOURCES CORPORATIONEnergy1.4%$10.1m687,700–new
LIBERTY MEDIA CORP DEL no ticker–1.2%$8.0m182,595+16%added
AYS1 SANDSTORM GOLD LTD–1.1%$8.0m1.18m–new
07S SECUREWORKS CORP–1.1%$7.4m549,642+113%added
LTRPAUSD LIBERTY TRIPADVISOR HLDGS IN–1.0%$7.3m1.14m+4.2%added
DLHC DLH HLDGS CORPIndustrials1.0%$7.2m726,637+54%added
YUSD ALLEGHANY CORP DEL–1.0%$6.9m11,063−12%reduced
TGNA TEGNA INC–0.9%$6.1m322,671−62%reduced
TRNS TRANSCAT INCIndustrials0.9%$6.0m121,478−60%reduced
HSIC HENRY SCHEIN INCHealthcare0.8%$5.9m85,187+6.2%added
FMC FMC CORPBasic Materials0.7%$5.1m45,763+13%added
AXALTA COATING SYS LTD no ticker–0.7%$5.0m167,871+21%added
BRK/B BERKSHIRE HATHAWAY INC DEL–0.7%$4.6m17,950+3.5%added
RSSS RESEARCH SOLUTIONS INC–0.6%$4.5m1.93m+19445%added
GEG GREAT ELM GROUP INC–0.6%$4.1m1.66m−1.4%reduced
CLMB CLIMB GLOBAL SOLUTIONS INCTechnology0.6%$4.0m160,439–new
WFC WELLS FARGO & COFinancial Services0.6%$4.0m102,4000.0%held
FNV FRANCO NEVADA CORPBasic Materials0.6%$3.9m30,900–new
AYI ACUITY INCIndustrials0.5%$3.5m21,134−79%reduced
GBLI GLOBAL INDEMNITY GROUP LLC–0.5%$3.1m105,960−28%reduced
TPR TAPESTRY INCConsumer Cyclical0.4%$2.8m68,167−29%reduced
Blueknight Energy Partners 11 no ticker–0.4%$2.5m326,375+519%added
DISH DISH NETWORK CORPORATION–0.4%$2.5m69,100–new
CLH CLEAN HARBORS INCIndustrials0.4%$2.5m29,192−6.3%reduced
BNY BANK OF NY MELLON CORPFinancial Services0.3%$1.8m37,715+5.6%added
SENSATA TECHNOLOGIES HLDG PL no ticker–0.2%$1.7m29,502+0.3%held
MWA Mueller Water Products Inc.Industrials0.2%$1.3m90,470−7.1%reduced

Exited since Q4 2020

12 rows
AVID TECHNOLOGY INC no ticker2.4%$13.3m
8HH AVANOS MED INC1.7%$9.4m
FLIR FLIR SYS INC0.6%$3.3m
SNDA SONIDA SENIOR LIVING INC0.3%$1.6m
WPXUSD WPX ENERGY INC0.1%$640k
CTO REALTY GROWTH INC no ticker0.02%$118k
Winland Holdings Corp no ticker0.01%$38.0k
RDI READING INTL INC0.01%$29.0k
PKE PARK AEROSPACE CORP0.0%$27.0k
SMHI SEACOR MARINE HLDGS INC0.0%$27.0k
USLM UNITED STS LIME & MINERALS I0.0%$23.0k
RAIL FREIGHTCAR AMER INC0.0%$21.0k

Sector mix

  • Unclassified39.1%
  • Industrials12.3%
  • Communication Services11.3%
  • Healthcare10.2%
  • Technology10.2%
  • Basic Materials7.8%
  • Financial Services4.4%
  • Consumer Cyclical2.7%
  • Energy1.7%
  • Consumer Defensive0.3%
  • Real Estate0.0%

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