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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Sep 3, 2025 | Cove Street Capital Small Cap Value Fund | - | - | FUN, VSAT | Credit markets, liquidity, Speculation, valuation, value | The letter discusses late-cycle speculative behavior across equities, crypto, and credit markets driven by liquidity and policy expectations. Management contrasts this environment with disciplined value investing focused on cash flows and balance sheets. Speculation is viewed as cyclical and a source of future opportunity when excesses unwind. | VSAT FUN |
View |
| 2024 Q1 | Apr 15, 2024 | Cove Street Capital Small Cap Value Fund | 3.7% | -6.0% | CLMB, CMP, DCO, GLDD, HNRG, LFCR, LTRPA, PKE, RDVT, SSP, TBRG, TRU, VSAT, WMT | - | View | ||
| 2023 Q2 | Dec 7, 2023 | Cove Street Capital Small Cap Value Fund | 3.7% | -6.0% | ALC, ANGI, DCO, DELL, GBLI, GLDD, IAC, LFCR, LTRPA, SCWX, SNEX, SSP, VSAT | - | View | ||
| 2025 Q3 | Oct 27, 2025 | 13D Activist Fund | 8.9% | 2.7% | BILL, PFGC, TRIP, VSAT, WK | activism, catalysts, Governance, Margins, SMIDcaps | Shareholder activism continues to accelerate in both frequency and success rates, aided by the universal proxy and a rotation toward SMID value that favors activist-led turnarounds. The letter highlights multiple new activist campaigns across technology, food distribution, travel, defense, and software, emphasizing margin improvement and strategic optionality. Activism remains a compelling alpha source as activists target undervalued companies with identifiable catalysts and operational inefficiencies. | WK VSAT TRIP PFGC |
View |
| 2023 Q3 | Oct 10, 2023 | Cove Street Capital Small Cap Value Fund | 3.7% | -6.0% | AMSWA, CCF, CNX, CVLT, DLHC, ECVT, HCCI, HNRG, IAC, LFCR, MGM, SSP, VSAT | - | View | ||
| 2024 Q3 | Sep 30, 2024 | Cove Street Capital Small Cap Value Fund | 3.7% | -6.0% | CLMB, CMP, OUT, RDVT, SSP, VSAT | - | View | ||
| 2022 Q3 | Sep 30, 2022 | Cove Street Capital Small Cap Value Fund | 3.7% | -6.0% | AZZ, CARG, CMP, ECVT, GBLI, HCCI, LGF/A, VSAT, WSTG | - | View | ||
| 2023 Q4 | Aug 1, 2024 | Cove Street Capital Small Cap Value Fund | 3.7% | -6.0% | 0UR4 LN, AVD, DLHC, HNGR, LFCR, LTRPA, OUT, SSP, VSAT | - | View | ||
| 2024 Q2 | Jun 30, 2024 | Cove Street Capital Small Cap Value Fund | 3.7% | -6.0% | AAP, CLVT, CMP, KBR, LFCR, LGF/B, NEU, NVDA, RDVT, SIX, SSP, SXI, VSAT | - | View | ||
| 2022 Q2 | Jun 30, 2022 | Cove Street Capital Small Cap Value Fund | 3.7% | -6.0% | BKEP, CMP, HNRG, INFU, LGF/B, VSAT, WTM | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| Dec 5, 2025 | Fund Letters | Jeffrey Bronchick | Viasat, Inc. | Information Technology | Alternative Carriers | Bear | NASDAQ | broadband, Capitalintensity, Execution, leverage, Satellite | View Pitch |
| Nov 28, 2025 | Fund Letters | Ken Squire | Viasat, Inc. | Information Technology | Communications Equipment | Bull | NASDAQ | Defense, growth, Satellites, Spin-offs, valuation | View Pitch |
| Nov 11, 2025 | Seeking Alpha | Seeking Alpha | Viasat, Inc. | Communication Equipment | Bull | backlog growth, capital efficiency, cash flow growth, communications services, Defense and Advanced Technologies, mobile satellite spectrum, quantum-resistant cryptography, satellite technology, secure systems, Viasat | View Pitch | ||
| Sep 16, 2025 | Short Thesis | Kerrisdale Capital | Viasat Inc | Information Technology | Alternative Carriers (Satellite Communications) | Bear | NASDAQ | broadband, debt, Integration, Satellite, Starlink | View Pitch |
| Sep 16, 2025 | Short Thesis | The Bear Cave | Viasat Inc | Information Technology | Alternative Carriers (Satellite Communications) | Bear | NASDAQ | broadband, Integration, leverage, Satellite, Starlink | View Pitch |
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||