Cove Street Capital, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Cove Street Capital, LLC reported 94 stock positions worth $76.0 million. Its top holding was American Vanguard (AVD) at 10.6% of the portfolio, followed by Research Solutions (RSSS, 6.6%) and Six Flags Entertainment (FUN, 6.1%). Compared with Q2 2025, it opened 6 new positions, sold out of 8, added to 25 and reduced 21. The biggest buy was Six Flags Entertainment (FUN, shares +1711%) and the biggest sale Ecovyst (ECVT, shares −45%).

Most Recent 13F
Q3 2025
Location
El Segundo, CA
CIK
0001531612
Portfolio Value
$76.0M (Q3 2025)
SEC Filing
0001531612-25-000017 ↗ filed Nov 13, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $315.9M Q1 2024 Q2 2024: $138.4M Q2 2024 Q3 2024: $127.6M Q3 2024 Q4 2024: $85.5M Q4 2024 Q1 2025: $63.5M Q1 2025 Q2 2025: $68.0M Q2 2025 Q3 2025: $76.0M $76.0M Q3 2025

Holdings 94 stocks · $76.0M
AVD American Vanguard Corp. 10.57% 1,398,986 $8.0M Add +12.1%
RSSS Research Solutions Inc. 6.56% 1,335,627 $5.0M Reduce -0.1%
FUN Six Flags Entertainment Corp. 6.11% 204,414 $4.6M Add +1711.4%
VSAT Viasat Inc. 4.59% 118,932 $3.5M Reduce -54.0%
ECVT Ecovyst Inc. 3.62% 313,713 $2.7M Reduce -44.9%
SNEX Stonex Group Inc. 3.46% 26,084 $2.6M Add +1.3%
CCO Clear Channel Outdoor Holdin 3.42% 1,642,567 $2.6M Add +59.9%
CLMB Climb Global Solutions Inc. 3.35% 18,865 $2.5M Add +20.7%
AAP Advance Auto Parts Inc. 2.99% 36,993 $2.3M Reduce -1.6%
NEU Newmarket Corp. 2.81% 2,582 $2.1M Add +2.4%
OUT Outfront Media Inc. 2.72% 112,859 $2.1M Add +1.6%
WEX Wex Inc. 2.66% 12,851 $2.0M Reduce -0.1%
IIIV I3 Verticals Inc. Class A 2.57% 60,222 $2.0M Add +3.2%
PPLI People Inc. filed as IAC INC 2.52% 56,268 $1.9M Add +20.3%
WTM White Mountains Insurance GP 2.38% 1,083 $1.8M Add +128.5%
CLVT Clarivate PLC 2.28% 452,462 $1.7M Add +4075.2%
KMI Kinder Morgan Inc. 2.09% 56,120 $1.6M Reduce -6.3%
VMD Viemed Healthcare Inc. 1.96% 219,848 $1.5M Add +57.5%
SCHW Schwab (charles) Corp. 1.94% 15,424 $1.5M Reduce -1.6%
TFPM Triple Flag Precious Met 1.91% 49,712 $1.5M Reduce -0.2%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 1.90% 13,243 $1.4M Reduce -0.8%
CMP Compass Minerals Internation 1.80% 71,417 $1.4M Reduce -0.1%
ENOV Enovis Corp. 1.77% 44,442 $1.3M No change
WBD Warner Bros Discovery Inc. 1.75% 68,032 $1.3M Reduce -64.7%
AVNS Avanos Medical Inc. 1.71% 112,081 $1.3M Add +430.7%
WFC Wells Fargo & Co. 1.55% 14,020 $1.2M No change
BRK.B Berkshire Hathaway Inc. Class B 1.51% 2,280 $1.1M No change
ANIK Anika Therapeutics Inc. 1.26% 101,956 $958K Add +37.6%
SSP Ew Scripps Co./the-A filed as SCRIPPS E W CO OHIO 1.15% 356,437 $877K Reduce -43.6%
MTBA Simplify MBS ETF 1.01% 15,205 $766K Add +4.1%
IZEA Izea Worldwide Inc. 0.89% 181,860 $677K Add +2.7%
BTI British American Tob-SP ADR 0.85% 12,221 $649K Reduce -12.2%
MINO PIMCO Municipal Income Oppor 0.81% 13,665 $619K Add +19.6%
GBLI Global Indemnity Group LLC-A 0.72% 18,746 $545K Add +5.6%
NRC NRC Health filed as NATIONAL RESH CORP 0.55% 32,634 $417K Add +911.0%
IDV iShares International Select 0.54% 11,261 $412K Reduce -8.2%
AVGO Broadcom Inc. 0.52% 1,200 $396K No change
RDVT Red Violet Inc. 0.50% 7,335 $383K Reduce -7.0%
CDX Simplify High Yield ETF 0.50% 16,577 $380K New
PKE Park Aerospace Corp. 0.50% 18,495 $376K Reduce -14.4%
GOOGL Alphabet Inc. Class A 0.48% 1,500 $365K No change
SPAB SS SPDR P Agg Bond ETF 0.48% 14,100 $365K No change
FLOT iShares Floating Rate Bond E 0.41% 6,099 $312K Add +56.3%
MSFT Microsoft Corp. 0.41% 600 $311K No change
AAPL Apple Inc. 0.40% 1,200 $306K No change
SGU Star Group LP 0.40% 25,600 $303K Add +46.3%
VGIT Vanguard Intermediate-Term T 0.40% 5,000 $300K No change
AMZN Amazon.com Inc. 0.31% 1,060 $233K No change
VTS Vitesse Energy Inc. 0.27% 8,900 $207K Add +50.9%
CTAS Cintas Corp. 0.25% 940 $193K No change
ABBV Abbvie Inc. 0.24% 800 $185K No change
USB US Bancorp 0.24% 3,730 $180K Reduce -39.9%
MPC Marathon Petroleum Corp. 0.22% 855 $165K No change
PFF iShares Preferred & Income S 0.19% 4,500 $142K Add +28.6%
CVX Chevron Corp. 0.16% 800 $124K No change
JAAA Janus Henderson Aaa Clo ETF 0.16% 2,400 $122K Add +26.3%
ISRG Intuitive Surgical Inc. 0.16% 270 $121K No change
IDXX Idexx Laboratories Inc. 0.15% 180 $115K No change
KBR KBR Inc. 0.14% 2,300 $109K Reduce -60.3%
ABT Abbott Laboratories 0.14% 800 $107K No change
TER Teradyne Inc. 0.13% 720 $99K No change
ETN Eaton Corp. PLC 0.13% 260 $97K No change
WSO Watsco Inc. 0.13% 240 $97K No change
V Visa Inc. Class A 0.12% 275 $94K No change
HD Home Depot Inc. 0.12% 220 $89K No change
RFIX Simplify Bond Bull ETF 0.12% 2,075 $89K Add +59.5%
TMO Thermo Fisher Scientific Inc. 0.11% 175 $85K No change
ROP Roper Technologies Inc. 0.11% 165 $82K No change
PGR Progressive Corp. 0.10% 315 $78K No change
CB Chubb Ltd. 0.10% 260 $73K No change
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 0.09% 4,199 $69K No change
DHR Danaher Corp. 0.08% 315 $62K No change
LMT Lockheed Martin Corp. 0.08% 125 $62K No change
GECC Great Elm Capital Corp. 0.08% 6,100 $61K No change
PLD Prologis Inc. 0.08% 505 $58K No change
CHD Church & Dwight Co. Inc. 0.07% 650 $57K No change
ZBRA Zebra Technologies Corp. Class A 0.07% 180 $53K No change
XOM Exxon Mobil Corp. 0.07% 453 $51K No change
ARLP Alliance Resource Partners 0.07% 2,000 $51K No change
PM Philip Morris International 0.04% 200 $32K Reduce -80.0%
SRG Seritage Growth Prop- A 0.03% 5,103 $22K New
OSG Octave Specialty Group Inc. filed as AMBAC FINL GROUP INC 0.02% 1,861 $16K New
TG Tredegar Corp. 0.02% 1,829 $15K No change
BOC Boston Omaha Corp. Class A 0.01% 860 $11K No change
IA Innovative Solutions & Supp 0.01% 867 $11K No change
CLAR Clarus Corp. 0.01% 3,005 $11K Reduce -98.9%
MGPI MGP Ingredients Inc. 0.01% 415 $10K No change
UFI Unifi Inc. 0.01% 1,406 $7K New
SIF Sifco Industries 0.01% 923 $6K Reduce -80.2%
SJT San Juan Basin Royalty TR 0.01% 1,002 $6K New
UTMD Utah Medical Products Inc. 0.01% 87 $5K No change
POCI Precision Optics Corp. Inc. 0.01% 1,254 $5K No change
GDEN Golden Entertainment Inc. 0.01% 198 $5K No change
GEG Great Elm Group Inc. 0.00% 1 $2 New
Other holdings (2): bonds, preferreds, convertibles and warrants · $573K (not counted above)
SecurityClassShares / PrincipalValueChange
CABLE ONE INC (CABO 1.125 03/15/28) NOTE 1.125% 3/1 · principal 500,000$431KNew
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 115$142KNo change

Total filed on the 13F, all lines: $76.6M.

Portfolio Sells Q2 2025 → Q3 2025
ECVT Ecovyst Inc. Reduce -44.9% 3.62% −3.28
ANGI Angi Inc. Sold out 0.00% −2.28
FMC FMC Corp. Sold out 0.00% −2.18
INFU Infusystem Holdings Inc. Sold out 0.00% −2.13
SSP Ew Scripps Co./the-A Reduce -43.6% 1.15% −1.59
WBD Warner Bros Discovery Inc. Reduce -64.7% 1.75% −1.50
CLAR Clarus Corp. Reduce -98.9% 0.01% −1.35
VSAT Viasat Inc. Reduce -54.0% 4.59% −0.97
TIPT Tiptree Inc. Sold out 0.00% −0.84
OXY Occidental Petroleum Corp. Sold out 0.00% −0.82
NABL N-Able Inc. Sold out 0.00% −0.77
KMI Kinder Morgan Inc. Reduce -6.3% 2.09% −0.50
CMP Compass Minerals Internation Reduce -0.1% 1.80% −0.31
KBR KBR Inc. Reduce -60.3% 0.14% −0.27
PM Philip Morris International Reduce -80.0% 0.04% −0.23
USB US Bancorp Reduce -39.9% 0.24% −0.18
SCHW Schwab (charles) Corp. Reduce -1.6% 1.94% −0.16
BTI British American Tob-SP ADR Reduce -12.2% 0.85% −0.11
WEX Wex Inc. Reduce -0.1% 2.66% −0.11
IDV iShares International Select Reduce -8.2% 0.54% −0.08
RDVT Red Violet Inc. Reduce -7.0% 0.50% −0.07
SIF Sifco Industries Reduce -80.2% 0.01% −0.02
NVRI Enviri Corp. Sold out 0.00% −0.01
RHLD Resolute Holdings Manag Sold out 0.00% −0.01
PKE Park Aerospace Corp. Reduce -14.4% 0.50% +0.03
BNY Bank of New York Mellon Corp. Reduce -0.8% 1.90% +0.11
TFPM Triple Flag Precious Met Reduce -0.2% 1.91% +0.18
AAP Advance Auto Parts Inc. Reduce -1.6% 2.99% +0.42
RSSS Research Solutions Inc. Reduce -0.1% 6.56% +0.92

Portfolio Buys Q2 2025 → Q3 2025
FUN Six Flags Entertainment Corp. Add +1711.4% 6.11% +5.61
AVD American Vanguard Corp. Add +12.1% 10.57% +3.38
CLVT Clarivate PLC Add +4075.2% 2.28% +2.21
CCO Clear Channel Outdoor Holdin Add +59.9% 3.42% +1.65
AVNS Avanos Medical Inc. Add +430.7% 1.71% +1.33
WTM White Mountains Insurance GP Add +128.5% 2.38% +1.13
CLMB Climb Global Solutions Inc. Add +20.7% 3.35% +0.89
VMD Viemed Healthcare Inc. Add +57.5% 1.96% +0.55
CDX Simplify High Yield ETF New 0.50% +0.50
NRC NRC Health Add +911.0% 0.55% +0.47
NEU Newmarket Corp. Add +2.4% 2.81% +0.25
IZEA Izea Worldwide Inc. Add +2.7% 0.89% +0.23
IIIV I3 Verticals Inc. Class A Add +3.2% 2.57% +0.21
FLOT iShares Floating Rate Bond E Add +56.3% 0.41% +0.12
ANIK Anika Therapeutics Inc. Add +37.6% 1.26% +0.11
SGU Star Group LP Add +46.3% 0.40% +0.10
VTS Vitesse Energy Inc. Add +50.9% 0.27% +0.08
MINO PIMCO Municipal Income Oppor Add +19.6% 0.81% +0.07
OUT Outfront Media Inc. Add +1.6% 2.72% +0.06
PFF iShares Preferred & Income S Add +28.6% 0.19% +0.03
SRG Seritage Growth Prop- A New 0.03% +0.03
RFIX Simplify Bond Bull ETF Add +59.5% 0.12% +0.02
OSG Octave Specialty Group Inc. New 0.02% +0.02
JAAA Janus Henderson Aaa Clo ETF Add +26.3% 0.16% +0.02
SNEX Stonex Group Inc. Add +1.3% 3.46% +0.01
UFI Unifi Inc. New 0.01% +0.01
SJT San Juan Basin Royalty TR New 0.01% +0.01
GEG Great Elm Group Inc. New 0.00% 0.00
PPLI People Inc. Add +20.3% 2.52% −0.05
MTBA Simplify MBS ETF Add +4.1% 1.01% −0.07
GBLI Global Indemnity Group LLC-A Add +5.6% 0.72% −0.10

Notes & Other Activity Q2 2025 → Q3 2025
CABLE ONE INC (CABO 1.125 03/15/28) NOTE 1.125% 3/1 · principal New 500,000 $431K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q3 2025 94$76.0MAVD, RSSS, FUN, VSAT, ECVT
Q2 2025 96$68.0MAVD, ECVT, RSSS, VSAT, SNEX
Q1 2025 97$63.5MAVD, ECVT, RSSS, PPLI, WBD
Q4 2024 93$85.5MRSSS, WBD, AVD, ECVT, CLVT
Q3 2024 98$127.6MPPLI, RSSS, CMP, SSP, OUT
Q2 2024 78$138.4MRSSS, SSP, VSAT, PPLI, ECVT
Q1 2024 70$315.9MPPLI, ECVT, WTM, SSP, VSAT