Navigating the Changes: Cove Street Capital's Q4 2022 vs. Q1 2023 13F Holdings

Cove Street Capital, LLC released its Q4 2022 and Q1 2023 13F filings, indicating changes in holdings for the period. This report provides insights into the changes in stock positions, value, and percentages over the period.

In the Q4 2022 filing, Cove Street Capital holds 42 stocks, while in Q1 2023 filing, they hold 41 stocks, indicating a 2.3% decrease in positions. The total value of the shares in Q4 2022 amounted to $387 million, while in Q1 2023, it was valued at $317 million, representing a 18% drop in value.

Top 5 Increases in Stock Positions

1. IAC Interactive Corporation: Cove Street Capital increased its position in IAC Interactive Corporation by 51%, acquiring an additional 117,885 shares in Q1 2023. The value of the positions also spiked by 75.9%.

2. Six Flags Entertainment Corporation: The fund added 10,734 more shares of Six Flags, representing a 12% increase in stock positions.

3. Climb Global Solutions Inc.: Cove Street Capital increased its holding in Climb Global Solutions by 10.2%, with 105,791 additional shares in Q1 2023.

4. Enovis Corporation: The fund added 9,951 shares of Enovis Corporation, representing an 11.5% increase in stock positions.

5. Warner Bros Discovery Inc.: Cove Street Capital added another 49,400 shares of Warner Bros Discovery in Q1 2023, a 16.8% increase in stock positions.

Top 5 Decreases in Stock Positions

1. Lifecore Biomedical: Cove Street Capital reduced its holdings in Lifecore Biomedical by 43.6% in Q1 2023 by selling off 1.1 million shares.

2. SecureWorks Corporation: The fund sold off 61,800 shares of SecureWorks Corporation in Q1 2023, a 21.8% decrease in stock positions.

3. White Mountains Insurance Group: Cove Street Capital reduced its holdings in White Mountains Insurance Group by 28.6%, selling off 3,980 shares in Q1 2023.

4. E.W. Scripps Company: The fund sold off 27,874 shares of E.W. Scripps Company in Q1 2023, representing a 26.4% decrease in stock positions.

5. Regal Rexnord Corporation: Cove Street Capital reduced its position in Regal Rexnord Corporation by 21.1%, selling off 5,851 shares in Q1 2023.

Top 5 Holdings

1. Ecovyst Inc.: Cove Street Capital holds 2.04 million shares of Ecovyst Inc., valued at $22.6 million.

2. Viasat Inc.: The fund holds 945,685 shares of Viasat Inc., valued at $32 million.

3. Vitesse Energy Inc.: Cove Street Capital holds 1.36 million shares of Vitesse Energy Inc., valued at $2.6 million.

4. Liberty TripAdvisor Holdings: The fund holds 4.09 million shares of Liberty TripAdvisor Holdings, valued at $3.5 million.

5. Lifecore Series A Convertible: Cove Street Capital holds 3,000 shares of Lifecore Series A Convertible, valued at $1.8 million.

Conclusion

Cove Street Capital's Q4 2022 vs. Q1 2023 filings indicate positive and negative changes in stock positions, with Ecovyst Inc., Viasat Inc., and Vitesse Energy Inc. taking the top three positions in their holdings. The data is a valuable resource for fund managers, investors, and analysts to make informed investment decisions.