Cove Street Capital 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Qurate Retail Inc Preferred	PFD	74915M308	18	600	SH		SOLE		600	0	0
AGNC Investment Corporation	PFD	00123q500	337	14,000	SH		SOLE		14,000	0	0
Lifecore Series A Convertible	PFD	514766A99	1,783	3,000	SH		SOLE		3,000	0	0
Wells Fargo & Company FPP	PFD	949746804	259	220	SH		SOLE		220	0	0
Abbott Laboratories	COM	002824100	101	1,000	SH		SOLE		1,000	0	0
AbbVie Inc	COM	00287y109	159	1,000	SH		SOLE		1,000	0	0
ALJ Regional Holdings Inc	COM	001627108	7	4,158	SH		SOLE		4,158	0	0
Axalta Coating Systems Ltd	COM	g0750c108	4,128	136,275	SH		SOLE		136,275	0	0
Berkshire Hathaway Inc CL B	COM	084670702	3,597	11,650	SH		SOLE		11,650	0	0
Butler National Corporation	COM	123720104	2	3,000	SH		SOLE		3,000	0	0
Chase Corporation	COM	16150r104	2,290	21,867	SH		SOLE		21,867	0	0
Chase Corporation	COM	16150r104	2,147	20,503	SH		DFND		0	0	20,503
Chevron Corporation	COM	166764100	163	1,000	SH		SOLE		1,000	0	0
Clean Harbors Inc	COM	184496107	1,986	13,932	SH		SOLE		13,932	0	0
Climb Global Solutions Inc	COM	946760105	4,304	80,772	SH		SOLE		80,772	0	0
Climb Global Solutions Inc	COM	946760105	6,275	117,753	SH		DFND		0	0	117,753
CNX Resources Corporation	COM	12653C108	3,372	210,489	SH		SOLE		210,489	0	0
CNX Resources Corporation	COM	12653C108	3,441	214,800	SH		DFND		0	0	214,800
Commvault Systems Inc	COM	204166102	4,346	76,600	SH		SOLE		76,600	0	0
Commvault Systems Inc	COM	204166102	2,639	46,518	SH		DFND		0	0	46,518
Compass Minerals International	COM	20451n101	8,160	237,962	SH		SOLE		237,962	0	0
Compass Minerals International	COM	20451n101	5,994	174,789	SH		DFND		0	0	174,789
CTO Realty Growth Inc	COM	22948Q101	376	21,784	SH		SOLE		21,784	0	0
Devon Energy Corporation	COM	25179M103	1,146	22,634	SH		SOLE		22,634	0	0
DISH Network Corporation	COM	25470M109	404	43,300	SH		SOLE		43,300	0	0
DLH Holdings Corporation	COM	23335q100	3,082	268,701	SH		SOLE		268,701	0	0
DLH Holdings Corporation	COM	23335q100	2,830	246,730	SH		DFND		0	0	246,730
Ducommun Inc	COM	264147109	3,147	57,518	SH		SOLE		57,518	0	0
Ducommun Inc	COM	264147109	4,286	78,335	SH		DFND		0	0	78,335
E.W. Scripps Company	COM	811054402	6,120	650,414	SH		SOLE		650,414	0	0
E.W. Scripps Company	COM	811054402	3,135	333,174	SH		DFND		0	0	333,174
Ecovyst Inc	COM	27923Q109	14,606	1,321,841	SH		SOLE		1,321,841	0	0
Ecovyst Inc	COM	27923Q109	7,997	723,680	SH		DFND		0	0	723,680
Element Solutions Inc	COM	28618M106	998	51,689	SH		SOLE		51,689	0	0
Enovis Corporation	COM	194014502	6,854	128,135	SH		SOLE		128,135	0	0
Enovis Corporation	COM	194014502	3,097	57,894	SH		DFND		0	0	57,894
First Republic Bank	COM	33616C100	83	5,948	SH		SOLE		5,948	0	0
FMC Corporation	COM	302491303	2,782	22,776	SH		SOLE		22,776	0	0
Franco-Nevada Corporation	COM	351858105	3,441	23,600	SH		SOLE		23,600	0	0
Generac Holdings Inc	COM	368736104	13	123	SH		SOLE		123	0	0
Global Indemnity Group LLC	COM	37959r103	2,305	81,882	SH		SOLE		81,882	0	0
Godaddy Inc	COM	380237107	7	94	SH		SOLE		94	0	0
Great Elm Group Inc	COM	39037G109	700	308,178	SH		SOLE		308,178	0	0
Great Elm Group Inc	COM	39037G109	1,173	516,700	SH		DFND		0	0	516,700
Great Lakes Dredge & Doc	COM	390607109	1,690	311,277	SH		SOLE		311,277	0	0
Great Lakes Dredge & Doc	COM	390607109	2,117	389,900	SH		DFND		0	0	389,900
GXO Logistics Inc	COM	36262g101	15	299	SH		SOLE		299	0	0
Hallador Energy Company	COM	40609P105	3,862	420,221	SH		SOLE		420,221	0	0
Hallador Energy Company	COM	40609P105	1,915	208,385	SH		DFND		0	0	208,385
Hamilton Thorne Ltd	COM	407891100	12	10,564	SH		SOLE		10,564	0	0
Heritage-Crystal Clean Inc	COM	42726m106	4,277	120,098	SH		SOLE		120,098	0	0
Heritage-Crystal Clean Inc	COM	42726m106	6,077	170,665	SH		DFND		0	0	170,665
Howmet Aerospace Inc	COM	443201108	1,425	33,636	SH		SOLE		33,636	0	0
IAC InterActive Corporation	COM	44891N208	11,189	216,846	SH		SOLE		216,846	0	0
IAC InterActive Corporation	COM	44891N208	6,729	130,400	SH		DFND		0	0	130,400
IEH Corporation	COM	44949K107	612	90,804	SH		SOLE		90,804	0	0
InfuSystems Holdings Inc	COM	45685K102	2,012	259,575	SH		SOLE		259,575	0	0
InfuSystems Holdings Inc	COM	45685K102	2,239	288,964	SH		DFND		0	0	288,964
Innovative Solutions	COM	45769N105	8	1,031	SH		SOLE		1,031	0	0
IPG Photonics Corporation	COM	44980X109	1,016	8,242	SH		SOLE		8,242	0	0
Issuer Direct Corporation	COM	46520m204	6	264	SH		SOLE		264	0	0
KBR Inc	COM	48242W106	8,374	152,111	SH		SOLE		152,111	0	0
KBR Inc	COM	48242W106	4,553	82,700	SH		DFND		0	0	82,700
Kinder Morgan Inc	COM	49456B101	298	17,000	SH		SOLE		17,000	0	0
Liberty SiriusXM Group - A	COM	531229409	3,504	124,743	SH		SOLE		124,743	0	0
Liberty TripAdvisor Holdings Inc	COM	531465102	1,884	2,192,771	SH		SOLE		2,192,771	0	0
Liberty TripAdvisor Holdings Inc	COM	531465102	1,633	1,900,537	SH		DFND		0	0	1,900,537
Lifecore Biomedical	COM	514766104	4,811	1,274,351	SH		SOLE		1,274,351	0	0
Lifecore Biomedical	COM	514766104	2,303	609,993	SH		DFND		0	0	609,993
Lions Gate Entertainment Corporation	COM	535919500	4,269	411,307	SH		SOLE		411,307	0	0
Lions Gate Entertainment Corporation	COM	535919500	4,982	480,000	SH		DFND		0	0	480,000
Littelfuse Inc	COM	537008104	1,069	3,989	SH		SOLE		3,989	0	0
Masco Corporation	COM	574599106	14	278	SH		SOLE		278	0	0
McDermott International Ltd	COM	G5924V106	2	6,300	SH		SOLE		6,300	0	0
Millicom International Cellular	COM	l6388f110	1,461	77,237	SH		SOLE		77,237	0	0
Millicom International Cellular	COM	l6388f110	2,099	110,938	SH		DFND		0	0	110,938
N-able Inc	COM	62878D100	1,119	84,753	SH		SOLE		84,753	0	0
N-able Inc	COM	62878D100	1,869	141,563	SH		DFND		0	0	141,563
NewMarket Corporation	COM	651587107	3,997	10,951	SH		SOLE		10,951	0	0
NewMarket Corporation	COM	651587107	4,562	12,500	SH		DFND		0	0	12,500
Northern Technologies Internation	COM	665809109	6	514	SH		SOLE		514	0	0
Outfront Media Inc	COM	69007J106	160	9,870	SH		SOLE		9,870	0	0
Overseas Shipholding Group Inc	COM	69036R863	57	14,499	SH		SOLE		14,499	0	0
Philip Morris International Inc	COM	718172109	107	1,100	SH		SOLE		1,100	0	0
Regal Rexnord Corporation	COM	758750103	1,689	12,003	SH		SOLE		12,003	0	0
Research Solutions Inc	COM	761025105	2,980	1,482,698	SH		SOLE		1,482,698	0	0
Research Solutions Inc	COM	761025105	2,139	1,064,353	SH		DFND		0	0	1,064,353
SecureWorks Corporation	COM	81374A105	2,719	317,255	SH		SOLE		317,255	0	0
SecureWorks Corporation	COM	81374A105	2,521	294,112	SH		DFND		0	0	294,112
Six Flags Entertainment Corporation	COM	83001a102	7,187	269,074	SH		SOLE		269,074	0	0
Six Flags Entertainment Corporation	COM	83001a102	4,546	170,199	SH		DFND		0	0	170,199
Skechers U.S.A. Inc CL A	COM	830566105	1,132	23,818	SH		SOLE		23,818	0	0
Standex International Corporation	COM	854231107	2,801	22,876	SH		SOLE		22,876	0	0
Standex International Corporation	COM	854231107	4,027	32,889	SH		DFND		0	0	32,889
Star Group L.P.	COM	85512c105	345	26,600	SH		SOLE		26,600	0	0
StoneX Group Inc	COM	861896108	3,946	38,110	SH		SOLE		38,110	0	0
StoneX Group Inc	COM	861896108	3,737	36,100	SH		DFND		0	0	36,100
Tapestry Inc	COM	876030107	1,369	31,763	SH		SOLE		31,763	0	0
The Bank of New York Mellon Co	COM	064058100	1,204	26,500	SH		SOLE		26,500	0	0
The Charles Schwab Corporation	COM	808513105	576	11,000	SH		SOLE		11,000	0	0
The Eastern Company	COM	276317104	6	310	SH		SOLE		310	0	0
The Monarch Cement Company	COM	609031307	3	23	SH		SOLE		23	0	0
Tiptree Inc	COM	88822Q103	2,139	146,824	SH		SOLE		146,824	0	0
Tiptree Inc	COM	88822Q103	2,185	149,980	SH		DFND		0	0	149,980
Trimble Navigation Ltd	COM	896239100	946	18,039	SH		SOLE		18,039	0	0
Viasat Inc	COM	92552v100	20,625	609,485	SH		SOLE		609,485	0	0
Viasat Inc	COM	92552v100	11,377	336,200	SH		DFND		0	0	336,200
Viemed Healthcare Inc	COM	92663r105	3,618	374,572	SH		SOLE		374,572	0	0
Viemed Healthcare Inc	COM	92663r105	4,937	511,067	SH		DFND		0	0	511,067
Vitesse Energy Inc	COM	92852X103	938	49,274	SH		SOLE		49,274	0	0
Vitesse Energy Inc	COM	92852X103	1,663	87,400	SH		DFND		0	0	87,400
Warner Bros Discovery Inc	COM	934423104	5,167	342,200	SH		SOLE		342,200	0	0
Wells Fargo & Company	COM	949746101	1,327	35,500	SH		SOLE		35,500	0	0
White Mountains Insurance Group	COM	g9618e107	8,408	6,104	SH		SOLE		6,104	0	0
White Mountains Insurance Group	COM	g9618e107	6,668	4,841	SH		DFND		0	0	4,841
Zurn Water Solutions Corporation	COM	98983L108	7	321	SH		SOLE		321	0	0