WhaleCreep

Cove Street Capital 13F holdings, Q2 2021

Long-only investorSEC filingsCompare with another fundHoldings as of 2021-06-30, filed 2021-08-12

Cove Street Capital disclosed 87 US equity positions worth $690.9m in its Q2 2021 13F filing. Its largest position is VSAT at 7.4% of the reported book, followed by PQGEUR and CMP. Versus Q1 2021 it opened 8 new positions, added to 25, reduced 39 and exited 7.

$691m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
87
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
7.4%
Largest position
The largest single position as a share of the reported equity book.
44.4%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
32
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 2021: 8 new, 25 added, 39 reduced, 7 exited

50 of 87
VSAT VIASAT INCTechnology7.4%$51.4m1.03m−2.0%reduced
PQGEUR PQ GROUP HLDGS INC–6.8%$46.8m3.05m+51%added
CMP COMPASS MINERALS INTL INCBasic Materials5.2%$35.8m603,286−17%reduced
COLFAX CORP no ticker–4.7%$32.5m709,667−12%reduced
TIGO MILLICOM INTL CELLULAR S ACommunication Services4.6%$31.7m802,206−17%reduced
GPX GP STRATEGIES CORP–3.7%$25.6m1.63m−13%reduced
SSP SCRIPPS E W CO OHIOCommunication Services3.1%$21.7m1.07m−8.2%reduced
KBR KBR INCIndustrials3.0%$20.9m548,865−28%reduced
WHITE MTNS INS GROUP LTD no ticker–3.0%$20.4m17,759−24%reduced
LFCR LIFECORE BIOMEDICAL INCHealthcare2.9%$20.2m1.79m+6.8%added
SNEX STONEX GROUP INCFinancial Services2.7%$18.7m308,979−14%reduced
AZZ AZZ INCIndustrials2.6%$17.8m343,271−9.8%reduced
OPLN OPENLANE INCConsumer Cyclical2.3%$16.2m923,302−14%reduced
HCCIUSD HERITAGE CRYSTAL CLEAN INC–2.3%$16.1m542,260−9.4%reduced
CVLT COMMVAULT SYSTEMS INCTechnology2.3%$15.7m201,343−20%reduced
TGNA TEGNA INC–2.2%$15.5m824,201+155%added
SKAA SKECHERS U S A INC–2.1%$14.5m290,756−50%reduced
SIXEUR SIX FLAGS ENTMT CORP NEW–2.1%$14.4m332,269−3.3%reduced
LUMN LUMEN TECHNOLOGIES INCCommunication Services2.0%$13.9m1.02m−31%reduced
NEU NEWMARKET CORPBasic Materials2.0%$13.5m42,015–new
SXI STANDEX INTL CORPIndustrials1.9%$13.1m137,619−4.2%reduced
07S SECUREWORKS CORP–1.8%$12.7m683,740+24%added
VMD VIEMED HEALTHCARE INCHealthcare1.8%$12.6m1.76m−8.2%reduced
ATRO ASTRONICS CORPIndustrials1.7%$11.5m656,711–new
UFPT UFP TECHNOLOGIES INCHealthcare1.6%$11.3m197,337−6.7%reduced
GCPEUR GCP APPLIED TECHNOLOGIES INC–1.6%$11.2m480,363−2.1%reduced
CNX CNX RESOURCES CORPORATIONEnergy1.4%$9.7m707,200+2.8%added
LIBERTY MEDIA ACQUISITION CO no ticker–1.4%$9.6m940,800+2995%added
LIBERTY MEDIA CORP DEL no ticker–1.3%$9.1m196,281+7.5%added
DLHC DLH HLDGS CORPIndustrials1.3%$8.8m756,033+4.0%added
AYS1 SANDSTORM GOLD LTD–1.3%$8.7m1.10m−6.6%reduced
YUSD ALLEGHANY CORP DEL–1.0%$6.9m10,284−7.0%reduced
PAHC PHIBRO ANIMAL HEALTH CORPHealthcare0.9%$6.2m213,377−70%reduced
CCFEUR CHASE CORP–0.9%$6.1m59,416–new
HSIC HENRY SCHEIN INCHealthcare0.9%$6.1m81,611−4.2%reduced
RSSS RESEARCH SOLUTIONS INC–0.9%$6.0m2.10m+8.3%added
AXALTA COATING SYS LTD no ticker–0.8%$5.5m180,344+7.4%added
CLMB CLIMB GLOBAL SOLUTIONS INCTechnology0.8%$5.4m215,075+34%added
FMC FMC CORPBasic Materials0.8%$5.2m48,018+4.9%added
LTRPAUSD LIBERTY TRIPADVISOR HLDGS IN–0.7%$4.5m1.10m−3.3%reduced
BRK/B BERKSHIRE HATHAWAY INC DEL–0.6%$4.5m16,150−10%reduced
GBLI GLOBAL INDEMNITY GROUP LLC–0.6%$4.4m162,531+53%added
FNV FRANCO NEVADA CORPBasic Materials0.6%$4.4m30,000−2.9%reduced
GEG GREAT ELM GROUP INC–0.6%$3.8m1.69m+1.7%added
WFC WELLS FARGO & COFinancial Services0.5%$3.7m81,100−21%reduced
DISH DISH NETWORK CORPORATION–0.4%$2.9m69,1000.0%held
CLH CLEAN HARBORS INCIndustrials0.4%$2.8m29,773+2.0%added
DISCAUSD DISCOVERY INC–0.4%$2.7m87,400–new
Blueknight Energy Partners 11 no ticker–0.4%$2.7m324,657−0.5%reduced
BKEPUSD BLUEKNIGHT ENERGY PARTNERS L–0.4%$2.6m700,000+420%added

Exited since Q1 2021

7 rows
TRNS TRANSCAT INC0.9%$6.0m
HALLUSD HALLMARK FINL SVCS INC0.1%$825k
WMB WILLIAMS COS INC0.03%$227k
Apex Global Brands Inc no ticker0.03%$181k
QIPT QUIPT HOME MEDICAL CORP0.01%$73.0k
MIC2EUR MACQUARIE INFRASTRUCTURE COR0.0%$22.0k
PHI Group Inc no ticker0.0%$5.0k

Sector mix

  • Unclassified42.9%
  • Industrials11.6%
  • Technology10.5%
  • Communication Services9.8%
  • Basic Materials8.5%
  • Healthcare8.2%
  • Financial Services4.0%
  • Consumer Cyclical2.6%
  • 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