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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
+16.07%
1 Year Est. Return
+6.33%
3 Year Est. Return
+41.54%
5 Year Est. Return
+46.6%
10 Year Est. Return
–
AUM
$104M
AUM Growth
-$3.97M
Cap. Flow
-$10.1M
Cap. Flow %
-9.68%
Top 10 Hldgs %
66.9%
Holding
29
New
2
Increased
3
Reduced
5
Closed
4

Top Buys

Rank Stock Value
1
LILAK icon
Liberty Latin America Class C
LILAK
+$4.19M
2
BMY.RT
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
+$2.57M
3
MPC icon
Marathon Petroleum
MPC
+$1.05M
4
LEE icon
Lee Enterprises
LEE
+$486K
5
BWFG icon
Bankwell Financial Group
BWFG
+$214K

Top Sells

Rank Stock Value
1
GTX icon
Garrett Motion
GTX
+$5.54M
2
NWSA icon
News Corp Class A
NWSA
+$4.36M
3
VRS
Verso Corporation
VRS
+$2.94M
4
BJRI icon
BJ's Restaurants
BJRI
+$1.77M
5
FENC icon
Fennec Pharmaceuticals
FENC
+$1.13M

Sector Composition

Rank Sector Weight
1 Energy 19.7%
2 Industrials 16.79%
3 Communication Services 16.68%
4 Financials 15.07%
5 Consumer Discretionary 7.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EPSN icon
1
Epsilon Energy
EPSN
$169M
$11.9M 11.39%
3,921,938
– –
BXC icon
2
BlueLinx
BXC
$509M
$10.3M 9.9%
480,000
-62,367
-11% -$1.01M
NWSA icon
3
News Corp Class A
NWSA
$15.4B
$8.41M 8.06%
600,000
-312,513
-34% -$4.36M
SWKH
4
DELISTED
SWK Holdings
SWKH
$8.26M 7.91%
744,252
-64,690
-8% -$676K
EMKR
5
DELISTED
Emcore Corp
EMKR
$7.06M 6.76%
217,193
-18,530
-8% -$613K
MPC icon
6
Marathon Petroleum
MPC
$91.1B
$5.43M 5.2%
185,000
+30,000
+19% +$1.05M
CPLG
7
DELISTED
CorePoint Lodging Inc. Common Stock
CPLG
$5.04M 4.83%
925,000
– –
FENC icon
8
Fennec Pharmaceuticals
FENC
$348M
$4.85M 4.64%
800,000
-160,000
-17% -$1.13M
IEC
9
DELISTED
IEC Electronics Corp.
IEC
$4.54M 4.35%
525,000
– –
CAKE icon
10
Cheesecake Factory
CAKE
$5.23B
$4.02M 3.85%
145,000
– –
LILAK icon
11
Liberty Latin America Class C
LILAK
$1.67B
$3.87M 3.7%
+522,500
New +$4.19M
OCSL icon
12
Oaktree Specialty Lending
OCSL
$1.07B
$3.82M 3.66%
262,796
– –
BBW icon
13
Build-A-Bear
BBW
$428M
$3.75M 3.59%
1,500,000
– –
HIL
14
DELISTED
Hill International, Inc. Common Stock
HIL
$3.62M 3.47%
2,740,000
– –
AUD
15
DELISTED
Audacy, Inc.
AUD
$2.74M 2.62%
1,700,000
– –
LEE icon
16
Lee Enterprises
LEE
$180M
$2.39M 2.29%
284,798
+54,200
+24% +$486K
GIFI
17
DELISTED
Gulf Island Fabrication
GIFI
$2.35M 2.25%
750,000
– –
ESTE
18
DELISTED
Earthstone Energy Inc. Class A Common Stock
ESTE
$2.33M 2.23%
900,000
– –
BMY.RT
19
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
$2.02M 1.94%
+900,000
New +$2.57M
FGNX
20
FG Nexus Inc
FGNX
$43.3M
$1.88M 1.8%
3,911
– –
ASIX icon
21
AdvanSix
ASIX
$543M
$1.87M 1.79%
145,000
– –
BWFG icon
22
Bankwell Financial Group
BWFG
$541M
$1.77M 1.7%
125,264
+13,822
+12% +$214K
PBF icon
23
PBF Energy
PBF
$7.82B
$922K 0.88%
162,000
– –
GMLP
24
DELISTED
Golar LNG Partners LP
GMLP
$792K 0.76%
390,000
– –
STCN
25
DELISTED
Steel Connect, Inc. Common Stock
STCN
$434K 0.42%
85,647
– –
1
2

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VWWMG
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GRA
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CFS
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AMD
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Solas Capital Management's Q3 2020 Portfolio in Review

As of Q3 2020, Solas Capital Management held 29 positions worth $104M, down 3.7% from $108M the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Solas Capital Management withdrew a net $10.1M in Q3 2020, closing 4 positions and reducing 5 holdings. Its most notable exit was Garrett Motion, an estimated $5.54M position sold in full.

By sector, the portfolio is most concentrated in Energy at 20% of assets, down from 20% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Solas Capital Management opened a new position in Liberty Latin America Class C worth $3.87M.

  • Solas Capital Management's largest Q3 2020 buy was Liberty Latin America Class C: 522,500 shares worth $3.87M.
  • Solas Capital Management added most to Marathon Petroleum in Q3 2020, an estimated $1.05M increase.
  • Solas Capital Management's biggest Q3 2020 reduction was News Corp Class A, cutting an estimated $4.36M.
  • Solas Capital Management fully exited Garrett Motion in Q3 2020, selling an estimated $5.54M.
  • Solas Capital Management's ten largest holdings make up 67% of its $104M portfolio in Q3 2020.
  • Solas Capital Management opened 2 new positions and closed 4 in Q3 2020.
  • Solas Capital Management's portfolio value fell 3.7% quarter-over-quarter to $104M.

Based on Solas Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.