WhaleCreep

Cove Street Capital 13F holdings, Q2 2025

Long-only investorSEC filingsCompare with another fundHoldings as of 2025-06-30, filed 2025-08-14

Cove Street Capital disclosed 97 US equity positions worth $68.2m in its Q2 2025 13F filing. Its largest position is AVD at 7.2% of the reported book, followed by ECVT and RSSS. Versus Q1 2025 it opened 9 new positions, added to 11, reduced 33 and exited 10.

$68.2m
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
97
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
7.2%
Largest position
The largest single position as a share of the reported equity book.
42.7%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
33
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 2025: 9 new, 11 added, 33 reduced, 10 exited

50 of 97
AVD AMERICAN VANGUARD CORPBasic Materials7.2%$4.9m1.25m+11%added
ECVT ECOVYST INCBasic Materials6.9%$4.7m569,674−11%reduced
RSSS RESEARCH SOLUTIONS INC–5.6%$3.8m1.34m−0.6%reduced
VSAT VIASAT INCTechnology5.5%$3.8m258,785+31%added
SNEX STONEX GROUP INCFinancial Services3.4%$2.3m25,760−3.4%reduced
WBD WARNER BROS DISCOVERY INCCommunication Services3.2%$2.2m192,596−26%reduced
WEX WEX INCTechnology2.8%$1.9m12,869+17%added
SSP SCRIPPS E W CO OHIOCommunication Services2.7%$1.9m631,682−10%reduced
OUT OUTFRONT MEDIA INCReal Estate2.7%$1.8m111,076+504791%added
KMI KINDER MORGAN INC DELEnergy2.6%$1.8m59,9200.0%held
AAP ADVANCE AUTO PARTS INCConsumer Cyclical2.6%$1.7m37,594−31%reduced
PPLI PEOPLE INCCommunication Services2.6%$1.7m46,786−34%reduced
NEU NEWMARKET CORPBasic Materials2.6%$1.7m2,522−1.1%reduced
CLMB CLIMB GLOBAL SOLUTIONS INCTechnology2.5%$1.7m15,624+90%added
IIIV I3 VERTICALS INCTechnology2.4%$1.6m58,362+24525%added
ANGI ANGI INC–2.3%$1.6m101,739–new
FMC FMC CORPBasic Materials2.2%$1.5m35,587−0.8%reduced
INFU INFUSYSTEM HLDGS INCHealthcare2.1%$1.4m232,295+10%added
CMP COMPASS MINERALS INTL INCBasic Materials2.1%$1.4m71,527−47%reduced
SCHW SCHWAB CHARLES CORPFinancial Services2.1%$1.4m15,6680.0%held
ENOV ENOVIS CORPORATIONHealthcare2.0%$1.4m44,442+33%added
BNY BANK OF NY MELLON CORPFinancial Services1.8%$1.2m13,3430.0%held
CCO CLEAR CHANNEL OUTDOOR HLDGSCommunication Services1.8%$1.2m1.03m+24686%added
TFPM TRIPLE FLAG PRECIOUS METALBasic Materials1.7%$1.2m49,800−29%reduced
WFC WELLS FARGO & COFinancial Services1.6%$1.1m14,0200.0%held
BRK/B BERKSHIRE HATHAWAY INC DEL–1.6%$1.1m2,280−24%reduced
VMD VIEMED HEALTHCARE INCHealthcare1.4%$965k139,621−1.4%reduced
CLAR CLARUS CORP NEWConsumer Cyclical1.4%$929k267,829−0.9%reduced
WHITE MTNS INS GROUP LTD no ticker–1.2%$851k474−3.5%reduced
ANIK ANIKA THERAPEUTICS INCHealthcare1.2%$784k74,099−1.1%reduced
SIMPLIFY EXCHANGE TRADED FUN no ticker–1.1%$731k14,6000.0%held
BTI BRITISH AMERN TOB PLCConsumer Defensive1.0%$659k13,9210.0%held
TIPT TIPTREE INCFinancial Services0.8%$573k24,315−67%reduced
OXY OCCIDENTAL PETE CORPEnergy0.8%$561k13,3450.0%held
GBLI GLOBAL INDEMNITY GROUP LLC–0.8%$557k17,746−50%reduced
NABL N-ABLE INCTechnology0.8%$521k64,283−1.3%reduced
PIMCO ETF TR no ticker–0.7%$505k11,427–new
IZEA IZEA WORLDWIDE INC–0.7%$446k177,084–new
IDV ISHARES TR–0.6%$423k12,2650.0%held
RDVT RED VIOLET INC–0.6%$388k7,885−5.0%reduced
SPAB SPDR SERIES TRUST–0.5%$361k14,1000.0%held
FUN SIX FLAGS ENTERTAINMENT CORPConsumer Cyclical0.5%$343k11,285−3.2%reduced
AVGO BROADCOM INCTechnology0.5%$331k1,2000.0%held
PKE PARK AEROSPACE CORPIndustrials0.5%$319k21,613−4.8%reduced
VGIT VANGUARD SCOTTSDALE FDS–0.4%$299k5,000–new
MSFT MICROSOFT CORPTechnology0.4%$298k6000.0%held
USB US BANCORPFinancial Services0.4%$281k6,202–new
KBR KBR INCIndustrials0.4%$278k5,8000.0%held
GOOGL ALPHABET INCCommunication Services0.4%$264k1,5000.0%held
8HH AVANOS MED INC–0.4%$258k21,118−4.9%reduced

Exited since Q1 2025

10 rows
ATRO ASTRONICS CORP0.6%$400k
GBDC GOLUB CAP BDC INC0.3%$164k
BNY MELLON MUN INCOME INC no ticker0.3%$160k
UNH UNITEDHEALTH GROUP INC0.07%$47.1k
HQI HIREQUEST INC0.02%$10.1k
GEG GREAT ELM GROUP INC0.02%$10.1k
EML EASTERN CO0.02%$10.1k
BRN BARNWELL INDS INC0.01%$6.2k
RRX REGAL REXNORD CORPORATION0.0%$114
LGF/BEUR LIONS GATE ENTMNT CORP0.0%$8

Sector mix

  • Basic Materials22.6%
  • Unclassified18.0%
  • Technology15.6%
  • Communication Services10.7%
  • Financial Services10.6%
  • Healthcare7.8%
  • Consumer Cyclical4.9%
  • Energy4.2%
  • Real Estate2.7%
  • Industrials1.6%
  • Consumer Defensive1.3%

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