Cove Street Capital, LLC

Cove Street Capital, LLC is an SEC-registered investment adviser established in 2011, specializing in portfolio management for institutional and high net worth clients. The firm's investment strategies include Small Cap Value, All Cap Value, and Strategic Value, among others. Cove Street Capital manages approximately $127 million in assets as of December 31, 2024, with a minimum initial investment requirement of $5 million for management services and $250,000 for the Partners Fund. Fees for portfolio management services range from 0.40% to 1.25% of assets under management, with performance-based fees negotiable in certain circumstances. The firm acts as a fiduciary for ERISA accounts, ensuring that fees are not tied to commissions or 12b-1 fees. Clients have investment discretion, allowing Cove Street Capital to make trades without prior client approval. The firm maintains a Code of Ethics emphasizing client interests, fair disclosures, and conflict resolution. Cove Street Capital does not engage in principal transactions and provides quarterly reports to clients for transparency. The firm votes proxies for client accounts unless instructed otherwise and does not require prepayment of fees exceeding $1,200. Cove Street Capital has no financial conditions impairing its ability to meet obligations and has not faced bankruptcy in the past decade.