Cove Street Capital 13F annual report

Cove Street Capital is an investment fund managing more than $316 billion ran by Merihan Tynan. There are currently 70 companies in Tynan’s portfolio. The largest investments include IAC Inc and Ecovyst Inc, together worth $43.3 billion.

Limited to 30 biggest holdings

$316 billion Assets Under Management (AUM)

As of 30th April 2024, Cove Street Capital’s top holding is 427,289 shares of IAC Inc currently worth over $22.8 billion and making up 7.2% of the portfolio value. Relative to the number of outstanding shares of IAC Inc, Cove Street Capital owns more than approximately 0.1% of the company. In addition, the fund holds 1,839,956 shares of Ecovyst Inc worth $20.5 billion. The third-largest holding is White Mtns Ins Group Ltd worth $18 billion and the next is Scripps E W Co Ohio worth $14.6 billion, with 3,703,082 shares owned.

Currently, Cove Street Capital's portfolio is worth at least $316 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Cove Street Capital

The Cove Street Capital office and employees reside in El Segundo, California. According to the last 13-F report filed with the SEC, Merihan Tynan serves as the Chief Compliance Officer at Cove Street Capital.

Recent trades

In the most recent 13F filing, Cove Street Capital revealed that it had opened a new position in Computer Programs & Sys Inc and bought 733,369 shares worth $6.76 billion.

The investment fund also strengthened its position in Scripps E W Co Ohio by buying 944,328 additional shares. This makes their stake in Scripps E W Co Ohio total 3,703,082 shares worth $14.6 billion.

On the other hand, there are companies that Cove Street Capital is getting rid of from its portfolio. Cove Street Capital closed its position in Liberty TripAdvisor on 7th May 2024. It sold the previously owned 8,356,310 shares for $7.1 billion. Merihan Tynan also disclosed a decreased stake in IAC Inc by approximately 0.1%. This leaves the value of the investment at $22.8 billion and 427,289 shares.

One of the smaller hedge funds

The two most similar investment funds to Cove Street Capital are Puzo Michael J and Poehling Capital Management, Inc. They manage $316 billion and $316 billion respectively.


Merihan Tynan investment strategy

Cove Street Capital’s portfolio is diversified across 12 sectors. Currently, their heaviest sector is Technology — making up 20.2% of the total portfolio value. The fund focuses on investments in the United States as 52.9% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 17% of the total holdings value. On the other hand, small-cap stocks make up only 2.9% of the portfolio. The average market cap of the portfolio companies is close to $45.8 billion.

The complete list of Cove Street Capital trades based on 13F SEC filings

These positions were updated on May 7th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security Shares Owned Value Allocation
IAC Inc
8.11%
427,289
$22,791,595,000 7.21%
Ecovyst Inc
3.61%
1,839,956
$20,515,509,000 6.49%
White Mtns Ins Group Ltd
5.67%
10,057
$18,045,275,000 5.71%
Scripps E W Co Ohio
34.23%
3,703,082
$14,553,112,000 4.60%
Viasat, Inc.
17.69%
766,753
$13,870,561,000 4.39%
Outfront Media Inc
2.99%
816,100
$13,702,319,000 4.34%
Climb Global Solutions Inc
18.70%
155,424
$11,016,453,000 3.49%
Research Solutions, Inc.
2.23%
3,433,882
$10,851,067,000 3.43%
KBR Inc
7.55%
162,823
$10,365,312,000 3.28%
Six Flags Entmt Corp New
0.64%
387,811
$10,207,186,000 3.23%
Enovis Corporation
2.15%
158,989
$9,928,863,000 3.14%
American Vanguard Corp.
166.06%
709,287
$9,185,266,000 2.91%
Viemed Healthcare Inc
2.94%
893,797
$8,428,506,000 2.67%
Vitesse Energy Inc
26.27%
351,365
$8,337,891,000 2.64%
Triple Flag Precious Metal
15.40%
541,255
$7,821,135,000 2.47%
Cnx Res Corp
2.39%
322,747
$7,655,559,000 2.42%
Tiptree Inc
7.11%
423,767
$7,322,693,000 2.32%
Liberty TripAdvisor Holdings, Inc.
Closed
8,356,310
$7,102,864,000
NewMarket Corp.
6.62%
10,847
$6,883,724,000 2.18%
Lifecore Biomedical Inc
41.03%
1,283,780
$6,816,872,000 2.16%
Computer Programs & Sys Inc
Opened
733,369
$6,761,662,000 2.14%
Ducommun Inc.
Closed
123,255
$6,416,656,000
Stonex Group Inc
8.07%
89,945
$6,319,536,000 2.00%
Amer Software Inc
5.12%
541,707
$6,202,545,000 1.96%
Park Aerospace Corp
Opened
357,250
$5,941,068,000 1.88%
Motorcar Pts Amer Inc
4.99%
720,753
$5,794,854,000 1.83%
Red Violet Inc
Opened
275,000
$5,376,250,000 1.70%
Dlh Hldgs Corp
49.76%
375,776
$4,986,548,000 1.58%
Compass Minerals International Inc
35.33%
310,188
$4,882,359,000 1.54%
SecureWorks Corp
1.42%
638,626
$4,291,567,000 1.36%
Warner Bros.Discovery Inc
2.75%
452,800
$3,955,208,000 1.25%
Standex Intl Corp
27.61%
20,267
$3,693,053,000 1.17%
InfuSystem Holdings Inc
4.18%
392,325
$3,362,225,000 1.06%
Lions Gate Entmnt Corp
19.73%
310,985
$2,895,270,000 0.92%
Devon Energy Corp.
103.10%
55,516
$2,785,793,000 0.88%
Axalta Coating Sys Ltd
34.56%
77,502
$2,665,294,000 0.84%
Franco Nev Corp
5.37%
19,400
$2,311,704,000 0.73%
FMC Corp.
16.10%
35,478
$2,259,949,000 0.72%
Schwab Charles Corp
8.23%
30,100
$2,177,434,000 0.69%
Global Indemnity Group, LLC
26.20%
68,319
$2,085,779,000 0.66%
Great Elm Group Inc
0.85%
1,012,946
$1,944,856,000 0.62%
Archer Daniels Midland Co.
Opened
28,800
$1,808,928,000 0.57%
Trimble Inc
4.20%
26,000
$1,673,360,000 0.53%
Bank New York Mellon Corp
No change
27,400
$1,578,788,000 0.50%
Wells Fargo Co New
19.93%
27,315
$1,715,547,000 0.54%
Hallador Energy Co
5.13%
289,259
$1,541,750,000 0.49%
Regal Rexnord Corporation
19.43%
8,441
$1,520,224,000 0.48%
Berkshire Hathaway Inc.
67.66%
3,590
$1,509,667,000 0.48%
Skechers U S A, Inc.
Closed
20,717
$1,291,498,000
Howmet Aerospace Inc.
51.67%
14,170
$969,653,000 0.31%
Clean Harbors, Inc.
7.47%
4,618
$929,650,000 0.29%
Element Solutions Inc
Closed
38,696
$895,425,000
Littelfuse, Inc.
7.94%
3,202
$776,005,000 0.25%
Kinder Morgan Inc
285.15%
38,900
$713,426,000 0.23%
Simplify Exchange Traded Fun
Opened
7,700
$392,007,000 0.12%
Spdr Ser Tr
Opened
14,100
$356,660,000 0.11%
Cto Rlty Growth Inc New
No change
13,404
$227,198,000 0.07%
Abbvie Inc
No change
1,000
$182,100,000 0.06%
Star Group L.P.
6.01%
16,000
$160,320,000 0.05%
Chevron Corp.
No change
1,000
$157,740,000 0.05%
Tapestry Inc
88.95%
3,000
$142,440,000 0.05%
Abbott Labs
No change
1,000
$113,660,000 0.04%
Ishares Tr
Opened
3,500
$112,805,000 0.04%
Ishares Tr
No change
2,200
$112,343,000 0.04%
Philip Morris International Inc
No change
1,100
$100,782,000 0.03%
Janus Detroit Str Tr
Opened
1,900
$96,406,000 0.03%
Great Elm Cap Corp
50.00%
6,100
$67,466,000 0.02%
Tredegar Corp.
54.56%
5,000
$32,600,000 0.01%
Angi Inc
25.59%
7,373
$19,317,000 0.01%
Innovative Solutions & Suppo
No change
2,535
$18,556,000 0.01%
Eastern Co.
No change
544
$18,545,000 0.01%
Citizens Hldg Co Miss
Closed
1,586
$12,292,000
Northern Technologies Intl
Closed
918
$10,814,000
Issuer Direct Corp
Closed
509
$9,228,000
Liberty Media Corp.
100.00%
2
$85,000 0.00%
Millicom Intl Cellular S A
No change
2
$40,000 0.00%
Great Lakes Dredge & Dock Corporation
100.00%
3
$26,000 0.00%
No transactions found
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