The opinions expressed herein are those of Cove Street Capital, LLC and are subject to change without notice. Past performance is not a guarantee or indicator of future results. Consider the investment objectives, risks, and expenses before investing. Actual holdings will vary for each client. The information discussed on this call should not be considered as a recommendation to buy or sell any particular security and should not be considered as investment advice of any kind. You should not assume that any of the securities discussed are or will be profitable, or that recommendations we make in the future will be profitable or equal the performance of any securities discussed. The report is based on data obtained from sources believed to be reliable but is not guaranteed as being accurate and does not purport to be a complete summary of the available data. Recommendations for the past twelve months are available upon request. In addition to clients, partners and employees or their family members may have a position in security mentioned herein. Cove Street Capital, LLC is a registered investment advisor. Registration does not imply a certain level of skill or training. More information about Cove Street Capital including our investment strategies, fees, and objectives can be found in our ADV Part 2, which is available by request or via download here.