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Solas Capital Management Portfolio holdings

AUM $174M
1-Year Est. Return 6.33%
This Fund
S&P 500
This Quarter Est. Return
-1.42%
1 Year Est. Return
+6.33%
3 Year Est. Return
+41.54%
5 Year Est. Return
+46.6%
10 Year Est. Return
–
AUM
$96.7M
AUM Growth
-$1.21M
Cap. Flow
+$3.46M
Cap. Flow %
3.58%
Top 10 Hldgs %
67.17%
Holding
25
New
3
Increased
10
Reduced
5
Closed
2

Top Buys

Rank Stock Value
1
PBF icon
PBF Energy
PBF
+$5.11M
2
NIHD
NII Holdings, Inc. Common Stock
NIHD
+$3.27M
3
VRS
Verso Corporation
VRS
+$3.01M
4
GTX icon
Garrett Motion
GTX
+$1.41M
5
AUD
Audacy, Inc.
AUD
+$1.06M

Top Sells

Rank Stock Value
1
BXC icon
BlueLinx
BXC
+$4.65M
2
SMTA
Spirit MTA REIT Common Shares of Beneficial Interest
SMTA
+$3.34M
3
FLEX icon
Flex
FLEX
+$2.68M
4
VRTS icon
Virtus Investment Partners
VRTS
+$1.01M
5
HIL
Hill International, Inc. Common Stock
HIL
+$682K

Sector Composition

Rank Sector Weight
1 Communication Services 27.74%
2 Industrials 16.87%
3 Materials 8.26%
4 Financials 7.83%
5 Consumer Discretionary 7.73%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NWSA icon
1
News Corp Class A
NWSA
$15.5B
$11.7M 12.1%
840,100
– –
VRS
2
DELISTED
Verso Corporation
VRS
$7.68M 7.94%
620,000
+220,076
+55% +$3.01M
GTX icon
3
Garrett Motion
GTX
$5.86B
$7.47M 7.73%
750,000
+114,718
+18% +$1.41M
BXC icon
4
BlueLinx
BXC
$502M
$6.8M 7.04%
210,418
-184,282
-47% -$4.65M
EMKR
5
DELISTED
Emcore Corp
EMKR
$5.85M 6.05%
190,435
+10,338
+6% +$309K
PBF icon
6
PBF Energy
PBF
$7.81B
$5.44M 5.63%
+200,000
New +$5.11M
MSGN
7
DELISTED
MSG Networks Inc.
MSGN
$5.37M 5.55%
331,000
+56,000
+20% +$1M
HIL
8
DELISTED
Hill International, Inc. Common Stock
HIL
$5.29M 5.47%
1,768,530
-233,732
-12% -$682K
CPLG
9
DELISTED
CorePoint Lodging Inc. Common Stock
CPLG
$4.8M 4.97%
475,000
+25,000
+6% +$270K
FENC icon
10
Fennec Pharmaceuticals
FENC
$351M
$4.54M 4.69%
943,200
+93,221
+11% +$411K
ARTX
11
DELISTED
Arotech Corporation
ARTX
$4.22M 4.37%
1,436,954
+133,654
+10% +$295K
IEC
12
DELISTED
IEC Electronics Corp.
IEC
$4.07M 4.21%
589,078
+89,078
+18% +$570K
NIHD
13
DELISTED
NII Holdings, Inc. Common Stock
NIHD
$3.65M 3.77%
+1,859,895
New +$3.27M
OCSL icon
14
Oaktree Specialty Lending
OCSL
$1.07B
$3.26M 3.38%
210,000
– –
AUD
15
DELISTED
Audacy, Inc.
AUD
$3.17M 3.28%
950,000
+236,825
+33% +$1.06M
RRTS
16
DELISTED
RoadRunner Transportation Systems, Inc.
RRTS
$3.04M 3.15%
293,901
-67,445
-19% -$656K
INAP
17
DELISTED
Internap Corporation
INAP
$2.93M 3.03%
1,135,635
+11,839
+1% +$30.9K
VRTS icon
18
Virtus Investment Partners
VRTS
$1.11B
$2.37M 2.45%
21,400
-9,400
-31% -$1.01M
FGNX
19
FG Nexus Inc
FGNX
$44.2M
$1.94M 2.01%
3,519
– –
SPRT
20
DELISTED
support.com, Inc.
SPRT
$1.43M 1.48%
926,724
– –
STCN
21
DELISTED
Steel Connect, Inc. Common Stock
STCN
$1.17M 1.21%
71,579
– –
ALTO icon
22
Alto Ingredients
ALTO
$410M
$309K 0.32%
552,030
-747,970
-58% -$484K
ESTE
23
DELISTED
Earthstone Energy Inc. Class A Common Stock
ESTE
$167K 0.17%
+51,275
New +$219K
FLEX icon
24
Flex
FLEX
$46.8B
– –
-371,560
Closed -$2.68M
SMTA
25
DELISTED
Spirit MTA REIT Common Shares of Beneficial Interest
SMTA
– –
-400,000
Closed -$3.34M

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GWAM
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VWWMG
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GRA
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CFS
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CAM
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AMD
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Solas Capital Management's Q3 2019 Portfolio in Review

As of Q3 2019, Solas Capital Management held 25 positions worth $96.7M, down 1.2% from $97.9M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Solas Capital Management deployed $3.46M of net new capital in Q3 2019, opening 3 new positions and adding to 10 existing holdings. Its largest new stake was PBF Energy: 200,000 shares worth $5.44M.

By sector, the portfolio is most concentrated in Communication Services at 28% of assets, up from 25% a quarter earlier, followed by Industrials and Materials.

On the sell side, the largest reduction was BlueLinx, an estimated $4.65M trimmed.

  • Solas Capital Management's largest Q3 2019 buy was PBF Energy: 200,000 shares worth $5.44M.
  • Solas Capital Management added most to Verso Corporation in Q3 2019, an estimated $3.01M increase.
  • Solas Capital Management's biggest Q3 2019 reduction was BlueLinx, cutting an estimated $4.65M.
  • Solas Capital Management fully exited Spirit MTA REIT Common Shares of Beneficial Interest in Q3 2019, selling an estimated $3.34M.
  • Solas Capital Management's ten largest holdings make up 67% of its $96.7M portfolio in Q3 2019.
  • Solas Capital Management opened 3 new positions and closed 2 in Q3 2019.
  • Solas Capital Management's portfolio value fell 1.2% quarter-over-quarter to $96.7M.

Based on Solas Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.