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SCM
Solas Capital Management Portfolio holdings
AUM
$174M
1-Year Est. Return
6.33%
This Fund
S&P 500
This Quarter
Est. Return
+32.05%
1 Year Est. Return
+6.33%
3 Year Est. Return
+41.54%
5 Year Est. Return
+46.6%
10 Year Est. Return
–
AUM
$108M
AUM Growth
+$16M
(+17%)
Cap. Flow
-$8.62M
Cap. Flow
% of AUM
-7.96%
Top 10 Holdings %
Top 10 Hldgs %
65.33%
Holding
31
New
1
Increased
4
Reduced
7
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Epsilon Energy
EPSN
|
+$3.69M |
| 2 |
Lee Enterprises
LEE
|
+$2.09M |
| 3 |
Bankwell Financial Group
BWFG
|
+$1.65M |
| 4 |
HIL
Hill International, Inc. Common Stock
HIL
|
+$989K |
| 5 |
GIFI
Gulf Island Fabrication
GIFI
|
+$951K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
VRS
Verso Corporation
VRS
|
+$5.94M |
| 2 |
MSGN
MSG Networks Inc.
MSGN
|
+$4.13M |
| 3 |
IEC
IEC Electronics Corp.
IEC
|
+$1.49M |
| 4 |
AdvanSix
ASIX
|
+$1.16M |
| 5 |
BlueLinx
BXC
|
+$1.16M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 19.92% |
| 2 | Communication Services | 14.24% |
| 3 | Financials | 13.99% |
| 4 | Consumer Discretionary | 12.83% |
| 5 | Industrials | 11.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Epsilon Energy
EPSN
$170M
| $11.6M | 10.68% |
3,921,938
+1,271,938
| +48% | +$3.69M |
|
2
News Corp Class A
NWSA
$15.5B
| $10.8M | 9.99% |
912,513
| – | – |
|
3
Fennec Pharmaceuticals
FENC
$351M
| $8.02M | 7.4% |
960,000
| – | – |
|
|
SWKH
4
DELISTED
SWK Holdings
SWKH
| $7.68M | 7.09% |
808,942
| – | – |
|
|
EMKR
5
DELISTED
Emcore Corp
EMKR
| $7.5M | 6.92% |
235,723
| – | – |
|
6
Marathon Petroleum
MPC
$91.3B
| $5.79M | 5.35% |
155,000
-35,000
| -18% | -$1.12M |
|
7
Garrett Motion
GTX
$5.86B
| $5.54M | 5.11% |
1,000,000
| – | – |
|
|
IEC
8
DELISTED
IEC Electronics Corp.
IEC
| $5.06M | 4.67% |
525,000
-188,397
| -26% | -$1.49M |
|
|
9
BlueLinx
BXC
$502M
| $4.65M | 4.29% |
542,367
-187,633
| -26% | -$1.16M |
|
|
HIL
10
DELISTED
Hill International, Inc. Common Stock
HIL
| $4.17M | 3.84% |
2,740,000
+590,000
| +27% | +$989K |
|
|
CPLG
11
DELISTED
CorePoint Lodging Inc. Common Stock
CPLG
| $3.89M | 3.59% |
925,000
| – | – |
|
12
Oaktree Specialty Lending
OCSL
$1.07B
| $3.52M | 3.25% |
262,796
| – | – |
|
13
Cheesecake Factory
CAKE
$5.26B
| $3.32M | 3.07% |
145,000
| – | – |
|
14
Build-A-Bear
BBW
$430M
| $3.27M | 3.02% |
1,500,000
| – | – |
|
|
VRS
15
DELISTED
Verso Corporation
VRS
| $2.94M | 2.72% |
246,272
-453,728
| -65% | -$5.94M |
|
|
ESTE
16
DELISTED
Earthstone Energy Inc. Class A Common Stock
ESTE
| $2.56M | 2.36% |
900,000
-325,000
| -27% | -$794K |
|
|
AUD
17
DELISTED
Audacy, Inc.
AUD
| $2.35M | 2.17% |
1,700,000
| – | – |
|
|
GIFI
18
DELISTED
Gulf Island Fabrication
GIFI
| $2.3M | 2.13% |
750,000
+316,727
| +73% | +$951K |
|
|
19
Lee Enterprises
LEE
$181M
| $2.26M | 2.09% |
230,598
+218,961
| +1,882% | +$2.09M |
|
|
FGNX
20
FG Nexus Inc
FGNX
$44.2M
| $2.18M | 2.01% |
3,911
| – | – |
|
|
21
Bankwell Financial Group
BWFG
$537M
| $1.77M | 1.64% |
+111,442
| New | +$1.65M |
|
22
BJ's Restaurants
BJRI
$1.43B
| $1.77M | 1.63% |
84,500
-33,000
| -28% | -$653K |
|
|
23
AdvanSix
ASIX
$546M
| $1.7M | 1.57% |
145,000
-100,000
| -41% | -$1.16M |
|
24
PBF Energy
PBF
$7.81B
| $1.66M | 1.53% |
162,000
| – | – |
|
|
GMLP
25
DELISTED
Golar LNG Partners LP
GMLP
| $1.01M | 0.93% |
390,000
| – | – |
|
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Solas Capital Management's Q2 2020 Portfolio in Review
As of Q2 2020, Solas Capital Management held 31 positions worth $108M, up 17% from $92.3M the previous quarter. Its ten largest holdings account for 65% of the portfolio.
Solas Capital Management withdrew a net $8.62M in Q2 2020, closing 4 positions and reducing 7 holdings. Its most notable exit was MSG Networks Inc., an estimated $4.13M position sold in full.
By sector, the portfolio is most concentrated in Energy at 20% of assets, up from 16% a quarter earlier, followed by Communication Services and Financials.
Against the trend, Solas Capital Management opened a new position in Bankwell Financial Group worth $1.77M.
- Solas Capital Management's largest Q2 2020 buy was Bankwell Financial Group: 111,442 shares worth $1.77M.
- Solas Capital Management added most to Epsilon Energy in Q2 2020, an estimated $3.69M increase.
- Solas Capital Management's biggest Q2 2020 reduction was Verso Corporation, cutting an estimated $5.94M.
- Solas Capital Management fully exited MSG Networks Inc. in Q2 2020, selling an estimated $4.13M.
- Solas Capital Management's ten largest holdings make up 65% of its $108M portfolio in Q2 2020.
- Solas Capital Management opened 1 new position and closed 4 in Q2 2020.
- Solas Capital Management's portfolio value rose 17% quarter-over-quarter to $108M.
Based on Solas Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.