WhaleCreep

Cove Street Capital 13F holdings, Q3 2024

Long-only investorSEC filingsCompare with another fundHoldings as of 2024-09-30, filed 2024-11-12

Cove Street Capital disclosed 99 US equity positions worth $127.7m in its Q3 2024 13F filing. Its largest position is PPLI at 5.6% of the reported book, followed by RSSS and CMP. Versus Q2 2024 it opened 39 new positions, added to 9, reduced 31 and exited 18.

$128m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
99
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
5.6%
Largest position
The largest single position as a share of the reported equity book.
43.8%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
34
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 2024: 39 new, 9 added, 31 reduced, 18 exited

50 of 99
PPLI PEOPLE INCCommunication Services5.6%$7.1m132,434−11%reduced
RSSS RESEARCH SOLUTIONS INC–5.6%$7.1m2.61m−0.6%reduced
CMP COMPASS MINERALS INTL INCBasic Materials5.2%$6.6m551,780+109%added
SSP SCRIPPS E W CO OHIOCommunication Services4.8%$6.1m2.71m−3.8%reduced
OUT OUTFRONT MEDIA INCReal Estate4.7%$6.0m325,183−21%reduced
AVD AMERICAN VANGUARD CORPBasic Materials4.4%$5.6m1.05m+67%added
CLVT CLARIVATE PLCTechnology3.7%$4.7m662,796−11%reduced
VSAT VIASAT INCTechnology3.5%$4.5m377,556−32%reduced
ECVT ECOVYST INCBasic Materials3.5%$4.4m647,879−15%reduced
AAP ADVANCE AUTO PARTS INCConsumer Cyclical3.0%$3.8m98,406+52%added
WHITE MTNS INS GROUP LTD no ticker–2.8%$3.6m2,123−15%reduced
TIPT TIPTREE INCFinancial Services2.7%$3.5m178,001−12%reduced
NEU NEWMARKET CORPBasic Materials2.5%$3.2m5,738−0.7%reduced
WBD WARNER BROS DISCOVERY INCCommunication Services2.4%$3.0m366,805−12%reduced
SNEX STONEX GROUP INCFinancial Services2.3%$3.0m36,626−3.4%reduced
CLMB CLIMB GLOBAL SOLUTIONS INCTechnology2.2%$2.8m27,676−68%reduced
VMD VIEMED HEALTHCARE INCHealthcare2.0%$2.6m349,167+8.1%added
KMI KINDER MORGAN INC DELEnergy1.9%$2.5m110,9420.0%held
ENOV ENOVIS CORPORATIONHealthcare1.9%$2.4m55,963−16%reduced
TFPM TRIPLE FLAG PRECIOUS METALBasic Materials1.9%$2.4m147,082−12%reduced
RDVT RED VIOLET INC–1.9%$2.4m83,411−28%reduced
GBLI GLOBAL INDEMNITY GROUP LLC–1.7%$2.2m66,868+8.2%added
TBRG TRUBRIDGE INC–1.7%$2.2m181,428−9.9%reduced
07S SECUREWORKS CORP–1.7%$2.2m243,835+4.1%added
FNV FRANCO NEVADA CORPBasic Materials1.7%$2.1m17,1140.0%held
MPAA MOTORCAR PTS AMER INC–1.5%$2.0m266,067−28%reduced
SCHW SCHWAB CHARLES CORPFinancial Services1.5%$1.9m29,8240.0%held
AMSWAUSD LOGILITY SUPPLY CHAIN SOLUTI–1.4%$1.8m164,075−4.2%reduced
BRK/B BERKSHIRE HATHAWAY INC DEL–1.4%$1.8m3,935+9.6%added
BNY BANK OF NY MELLON CORPFinancial Services1.4%$1.8m24,9540.0%held
FMC FMC CORPBasic Materials1.3%$1.7m25,853−16%reduced
ADM ARCHER DANIELS MIDLAND COConsumer Defensive1.2%$1.6m26,3190.0%held
INFU INFUSYSTEM HLDGS INCHealthcare1.2%$1.5m222,011−3.1%reduced
KBR KBR INCIndustrials1.1%$1.4m21,601−22%reduced
PKE PARK AEROSPACE CORPIndustrials1.0%$1.3m100,616−14%reduced
WFC WELLS FARGO & COFinancial Services1.0%$1.3m22,1500.0%held
FUN SIX FLAGS ENTERTAINMENT CORPConsumer Cyclical0.9%$1.2m28,742–new
HNRG HALLADOR ENERGY COMPANYUtilities0.7%$922k97,765+44%added
DVN DEVON ENERGY CORP NEWEnergy0.7%$891k22,775−63%reduced
CNX CNX RESOURCES CORPORATIONEnergy0.7%$887k27,241−40%reduced
DLHC DLH HLDGS CORPIndustrials0.7%$847k90,454−6.5%reduced
SIMPLIFY EXCHANGE TRADED FUN no ticker–0.6%$752k14,600–new
OXY OCCIDENTAL PETE CORPEnergy0.5%$694k13,460–new
GEG GREAT ELM GROUP INC–0.4%$553k289,689−4.1%reduced
VTS VITESSE ENERGY INC–0.4%$484k20,142−48%reduced
CLAR CLARUS CORP NEWConsumer Cyclical0.4%$474k105,332–new
SPAB SPDR SERIES TRUST–0.3%$369k14,100–new
TRIP TRIPADVISOR INCConsumer Cyclical0.3%$346k23,913−43%reduced
AAPL APPLE INCTechnology0.3%$338k1,450–new
MSFT MICROSOFT CORPTechnology0.2%$293k680–new

Exited since Q2 2024

18 rows
SIXEUR SIX FLAGS ENTMT CORP NEW1.5%$2.1m
LTRPAUSD LIBERTY TRIPADVISOR HLDGS IN0.9%$1.3m
BUTLER NATL ORD no ticker0.6%$856k
IEH ORD no ticker0.6%$839k
TRMB TRIMBLE INC0.4%$611k
CLH CLEAN HARBORS INC0.2%$344k
LFUS LITTELFUSE INC0.2%$330k
AGNC INVESTMENT CORP no ticker0.2%$304k
ARCH CAPITAL GROUP LTD no ticker0.1%$169k
GOLDMAN SACHS GROUP INC no ticker0.1%$143k
CTO Realty Growth no ticker0.07%$101k
FRMO CORPORATION no ticker0.06%$82.0k
MICROPAC INDUSTRIES no ticker0.01%$11.0k
CIZN CITIZENS HLDG CO MISS0.01%$11.0k
FRMO ORD no ticker0.01%$10.0k
HAMILTON THORNE ORD no ticker0.01%$8.0k
MONARCH CEMENT ORD no ticker0.0%$5.0k
MCDERMOTT INTERNATIONAL ORD no ticker0.0%$1.0k

Sector mix

  • Unclassified22.3%
  • Basic Materials20.4%
  • Communication Services12.9%
  • Technology10.3%
  • Financial Services9.3%
  • Healthcare5.7%
  • Consumer Cyclical4.8%
  • Real Estate4.7%
  • Energy4.3%
  • Industrials3.2%
  • Consumer Defensive1.4%
  • Utilities0.7%

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