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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
-6.16%
1 Year Est. Return
+6.33%
3 Year Est. Return
+41.54%
5 Year Est. Return
+46.6%
10 Year Est. Return
–
AUM
$187M
AUM Growth
+$20.5M
(+12%)
Cap. Flow
+$38.1M
Cap. Flow
% of AUM
20.34%
Top 10 Holdings %
Top 10 Hldgs %
63.41%
Holding
31
New
5
Increased
12
Reduced
5
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sweetgreen
SG
|
+$13.9M |
| 2 |
GAP
The Gap Inc
GAP
|
+$10.1M |
| 3 |
ZIMV
ZimVie
ZIMV
|
+$9.2M |
| 4 |
California Resources
CRC
|
+$9.02M |
| 5 |
Flex
FLEX
|
+$5.05M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
FRG
Franchise Group, Inc.
FRG
|
+$6.19M |
| 2 |
Warner Bros
WBD
|
+$5.69M |
| 3 |
Liberty Latin America Class C
LILAK
|
+$4.02M |
| 4 |
GTXAP
Garrett Motion Inc. Series A Cumulative Convertible Preferred Stock
GTXAP
|
+$3.18M |
| 5 |
Quantum Corp
QMCO
|
+$1.77M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 22.32% |
| 2 | Technology | 19.01% |
| 3 | Energy | 15.28% |
| 4 | Healthcare | 13.85% |
| 5 | Industrials | 10.1% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Epsilon Energy
EPSN
$169M
| $19.3M | 10.29% |
3,608,467
+300,000
| +9% | +$1.71M |
|
2
Ardagh Metal Packaging
AMBP
$2.9B
| $12.7M | 6.77% |
3,106,517
+423,060
| +16% | +$2.08M |
|
|
ZIMV
3
DELISTED
ZimVie
ZIMV
| $12.4M | 6.6% |
1,709,511
+1,079,511
| +171% | +$9.2M |
|
|
4
Sweetgreen
SG
$689M
| $12.4M | 6.6% |
+1,575,574
| New | +$13.9M |
|
|
5
Liberty Latin America Class C
LILAK
$1.67B
| $11.9M | 6.36% |
1,585,220
-504,387
| -24% | -$4.02M |
|
6
Algoma Steel
ASTL
$441M
| $10.7M | 5.73% |
1,327,751
+21,329
| +2% | +$163K |
|
7
Fennec Pharmaceuticals
FENC
$348M
| $10.7M | 5.71% |
1,284,543
+32,155
| +3% | +$298K |
|
8
Kyndryl
KD
$3.2B
| $10.5M | 5.6% |
709,951
-114,049
| -14% | -$1.62M |
|
9
Cognyte Software
CGNT
$683M
| $9.32M | 4.97% |
2,747,837
| – | – |
|
|
AAN
10
DELISTED
The Aaron's Company Inc
AAN
| $8.99M | 4.8% |
930,969
+46,985
| +5% | +$604K |
|
|
11
California Resources
CRC
$4.64B
| $8.39M | 4.48% |
+218,000
| New | +$9.02M |
|
|
GAP
12
The Gap Inc
GAP
$7.47B
| $8.32M | 4.44% |
+828,750
| New | +$10.1M |
|
13
FTAI Infrastructure
FIP
$414M
| $6.66M | 3.56% |
2,220,000
+470,000
| +27% | +$1.43M |
|
14
NCR Voyix
VYX
$1.2B
| $6.46M | 3.45% |
446,307
+220,389
| +98% | +$3.38M |
|
15
Sportsman's Warehouse
SPWH
$45.3M
| $5.9M | 3.15% |
695,440
+100,788
| +17% | +$920K |
|
|
ONL
16
Orion Office REIT
ONL
$152M
| $5.44M | 2.91% |
812,010
+165,612
| +26% | +$1.35M |
|
|
17
Flex
FLEX
$47.2B
| $5.06M | 2.7% |
+291,940
| New | +$5.05M |
|
|
GTXAP
18
DELISTED
Garrett Motion Inc. Series A Cumulative Convertible Preferred Stock
GTXAP
| $4.42M | 2.36% |
497,000
-361,008
| -42% | -$3.18M |
|
|
19
Quantum Corp
QMCO
$454M
| $4.29M | 2.29% |
186,405
-67,895
| -27% | -$1.77M |
|
20
Lee Enterprises
LEE
$180M
| $3.32M | 1.77% |
266,880
+34,985
| +15% | +$614K |
|
|
GIFI
21
DELISTED
Gulf Island Fabrication
GIFI
| $3.26M | 1.74% |
881,717
| – | – |
|
22
Civeo
CVEO
$336M
| $2.55M | 1.36% |
+123,600
| New | +$3.52M |
|
23
Sonida Senior Living
SNDA
$1.85B
| $2.23M | 1.19% |
328,290
| – | – |
|
24
Natural Resource Partners
NRP
$1.29B
| $954K | 0.51% |
18,285
-15,999
| -47% | -$858K |
|
25
Modular Medical
MODD
$11.7M
| $656K | 0.35% |
15,072
| – | – |
|
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Solas Capital Management's Q1 2023 Portfolio in Review
As of Q1 2023, Solas Capital Management held 31 positions worth $187M, up 12% from $167M the previous quarter. Its ten largest holdings account for 63% of the portfolio.
Solas Capital Management deployed $38.1M of net new capital in Q1 2023, opening 5 new positions and adding to 12 existing holdings. Its largest new stake was Sweetgreen: 1,575,574 shares worth $12.4M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 22% of assets, up from 12% a quarter earlier, followed by Technology and Energy.
On the sell side, the largest reduction was Liberty Latin America Class C, an estimated $4.02M trimmed.
- Solas Capital Management's largest Q1 2023 buy was Sweetgreen: 1,575,574 shares worth $12.4M.
- Solas Capital Management added most to ZimVie in Q1 2023, an estimated $9.2M increase.
- Solas Capital Management's biggest Q1 2023 reduction was Liberty Latin America Class C, cutting an estimated $4.02M.
- Solas Capital Management fully exited Franchise Group, Inc. in Q1 2023, selling an estimated $6.19M.
- Solas Capital Management's ten largest holdings make up 63% of its $187M portfolio in Q1 2023.
- Solas Capital Management opened 5 new positions and closed 5 in Q1 2023.
- Solas Capital Management's portfolio value rose 12% quarter-over-quarter to $187M.
Based on Solas Capital Management's 13F filing for Q1 2023, filed 15 May 2023.