This 12x Turnaround Hiding in Plain Sight | Portfolio Update #9

CPS gutted its cost base, stayed critical to OEMs, and could 12x if volumes normalize.

Hey All 👋
Welcome to 📉 DeepValue Capital 📈

From 1/1/24 to 3/31/25, my portfolio delivered market-crushing returns of 156%.

YTD my returns are 14% . This week I want to refocus on a high-conviction name.

Cooper Standard (CPS)

A turnaround story that’s been delayed, not broken.

This portfolio update is designed to give you updates so you can maintain conviction amidst the noise or pass on the changed thesis if there is new important information.

This is a company that:

• Is down over 90% from its highs

• Has stripped out $600M+ in structural costs since 2019

• Builds critical vehicle systems used by the world’s top OEMs

• Was named a GM Supplier of the Year, for the 8th straight time

• And still has the potential for 12x+ returns if volumes normalize to cycle peaks.

Let’s break down what’s changed, what hasn’t, and why patient investors will be rewarded.