# Cloverdale Capital Management, LLC

> Institutional holdings reported to the SEC as of Q2 2020 on Form 13F. CIK 1635925. Source: https://holderbook.com/funds/1635925-cloverdale-capital-management-llc/

- Reported value: $134.6M
- Positions: 32
- Weight of the ten largest: 47.8%
- Filed: 2020-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| US FOODS HLDG CORP | [USFD](https://holderbook.com/stocks/USFD/) | $11.1M | 561,000 | 8.2% | 2 |
| REGIONAL MGMT CORP | [RM](https://holderbook.com/stocks/RM/) | $7.1M | 401,700 | 5.3% | 4 |
| CARLISLE COS INC | [CSL](https://holderbook.com/stocks/CSL/) | $6.7M | 56,000 | 5.0% | 1 |
| AARONS INC | [AANXXXX](https://holderbook.com/stocks/AANXXXX/) | $6.4M | 140,112 | 4.7% | 1 |
| ULTA BEAUTY INC | [ULTA](https://holderbook.com/stocks/ULTA/) | $6.1M | 30,000 | 4.5% | 1 |
| DROPBOX INC | [DBX](https://holderbook.com/stocks/DBX/) | $5.9M | 270,000 | 4.4% | 1 |
| UPBOUND GROUP INC | [UPBD](https://holderbook.com/stocks/UPBD/) | $5.7M | 204,687 | 4.2% | 6 |
| D R HORTON INC | [DHI](https://holderbook.com/stocks/DHI/) | $5.5M | 100,000 | 4.1% | 1 |
| CITI TRENDS INC | [CTRN](https://holderbook.com/stocks/CTRN/) | $4.9M | 244,307 | 3.7% | 2 |
| MITEK SYS INC | [MITK](https://holderbook.com/stocks/MITK/) | $4.9M | 508,191 | 3.6% | 2 |
| EVERCORE INC | [EVR](https://holderbook.com/stocks/EVR/) | $4.4M | 75,000 | 3.3% | 1 |
| AEROJET ROCKETDYNE HLDGS INC | [AJRD](https://holderbook.com/stocks/AJRD/) | $4.1M | 103,486 | 3.0% | 1 |
| HEXCEL CORP NEW | [HXL](https://holderbook.com/stocks/HXL/) | $4.1M | 90,000 | 3.0% | 1 |
| CF INDUSTRIES HOLD | [CF](https://holderbook.com/stocks/CF/) | $3.9M | 140,000 | 2.9% | 1 |
| SEABOARD CORP DEL | [SEB](https://holderbook.com/stocks/SEB/) | $3.8M | 1,300 | 2.8% | 1 |
| PURSUIT ATTRACTIONS AND HOSP | [PRSU](https://holderbook.com/stocks/PRSU/) | $3.8M | 198,384 | 2.8% | 1 |
| CRACKER BARREL OLD CTRY STOR | [CBRL](https://holderbook.com/stocks/CBRL/) | $3.8M | 34,000 | 2.8% | 1 |
| GENERAL DYNAMICS CORP | [GD](https://holderbook.com/stocks/GD/) | $3.7M | 25,000 | 2.8% | 1 |
| HEWLETT PACKARD ENTERPRISE C | [HPE](https://holderbook.com/stocks/HPE/) | $3.7M | 209,500 | 2.7% | 1 |
| TRANSUNION | [TRU](https://holderbook.com/stocks/TRU/) | $3.5M | 40,000 | 2.6% | 1 |
| SPIRIT AEROSYSTEMS HLDGS INC | [SPR](https://holderbook.com/stocks/SPR/) | $3.4M | 142,000 | 2.5% | 1 |
| WORTHINGTON ENTERPRISES INC | [WOR](https://holderbook.com/stocks/WOR/) | $3.2M | 85,000 | 2.4% | 1 |
| FRONT YD RESIDENTIAL CORP | [RESI](https://holderbook.com/stocks/RESI/) | $3.0M | 350,000 | 2.3% | 1 |
| AMEDISYS INC | [AMED](https://holderbook.com/stocks/AMED/) | $3.0M | 15,050 | 2.2% | 1 |
| LHC GROUP INC | [LHCG](https://holderbook.com/stocks/LHCG/) | $2.9M | 16,880 | 2.2% | 1 |
| AES CORP | [AES](https://holderbook.com/stocks/AES/) | $2.9M | 200,000 | 2.2% | 1 |
| AMERICAN CAMPUS CMNTYS INC | [ACC](https://holderbook.com/stocks/ACC/) | $2.8M | 80,000 | 2.1% | 1 |
| ADDUS HOMECARE CORP | [ADUS](https://holderbook.com/stocks/ADUS/) | $2.7M | 29,200 | 2.0% | 4 |
| SOUTHWEST AIRLS CO | [LUV](https://holderbook.com/stocks/LUV/) | $2.4M | 69,149 | 1.8% | 1 |
| AMERICAN WOODMARK CORP | [AMWD](https://holderbook.com/stocks/AMWD/) | $2.1M | 28,121 | 1.6% | 1 |
| ATLASSIAN CORP PLC | [TEAMXXXX](https://holderbook.com/stocks/TEAMXXXX/) | $1.9M | 350,000 | 1.4% | 1 |
| BARNES & NOBLE ED INC | [BNED](https://holderbook.com/stocks/BNED/) | $1.1M | 706,469 | 0.8% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2020 | +39.0% | +19.6% | +19.3% | 99% |
| Q1 2020 | -37.6% | -19.9% | -17.7% | 100% |
| Q4 2019 | +6.5% | +8.5% | -2.0% | 100% |
| Q3 2019 | +1.3% | +1.3% | -0.0% | 100% |
| Q2 2019 | +8.2% | +3.7% | +4.5% | 91% |
| Q1 2019 | +22.7% | +13.0% | +9.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2020 | $134.6M | 32 |
| Q1 2020 | $128.0M | 25 |
| Q4 2019 | $154.3M | 20 |
| Q3 2019 | $147.5M | 16 |
| Q2 2019 | $145.6M | 13 |
| Q1 2019 | $182.0M | 16 |
| Q4 2018 | $141.6M | 12 |