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SCM
Solas Capital Management Portfolio holdings
AUM
$187M
1-Year Est. Return
12.91%
This Fund
S&P 500
This Quarter
Est. Return
-7.4%
1 Year Est. Return
+12.91%
3 Year Est. Return
+62.45%
5 Year Est. Return
+50.69%
10 Year Est. Return
–
AUM
$143M
AUM Growth
-$7.34M
(-4.9%)
Cap. Flow
+$6.82M
Cap. Flow
% of AUM
4.77%
Top 10 Holdings %
Top 10 Hldgs %
78.5%
Holding
22
New
1
Increased
12
Reduced
4
Closed
3
Avg Time Held
7
quarters
Top 10 Avg Time Held
4.6
quarters
Top 20 Avg Time Held
5.4
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Advance Auto Parts
AAP
|
+$10M |
| 2 |
Kyndryl
KD
|
+$5.47M |
| 3 |
Fennec Pharmaceuticals
FENC
|
+$2.33M |
| 4 |
The Aaron's Company Inc
AAN
|
+$1.61M |
| 5 |
Orion Office REIT
ONL
|
+$1.52M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
The Gap Inc
GAP
|
+$7.54M |
| 2 |
California Resources
CRC
|
+$6.2M |
| 3 |
Cognyte Software
CGNT
|
+$4.8M |
| 4 |
Natural Resource Partners
NRP
|
+$807K |
| 5 |
Quantum Corp
QMCO
|
+$769K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 26.87% |
| 2 | Energy | 14.24% |
| 3 | Technology | 13.25% |
| 4 | Industrials | 13.04% |
| 5 | Healthcare | 12.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Epsilon Energy
EPSN
$180M
| $19.9M | 13.92% |
3,768,467
+160,000
| +4% | +$891K |
2019 Q4
15 quarters
|
|
|
2
Kyndryl
KD
$2.56B
| $17.2M | 12.05% |
1,141,181
+369,130
| +48% | +$5.47M |
2022 Q4
3 quarters
|
|
|
3
Fennec Pharmaceuticals
FENC
$374M
| $13M | 9.07% |
1,725,567
+286,539
| +20% | +$2.33M |
2019 Q2
17 quarters
|
|
4
Ardagh Metal Packaging
AMBP
$2.58B
| $10.9M | 7.62% |
3,478,792
+210,000
| +6% | +$738K |
2022 Q3
4 quarters
|
|
5
Algoma Steel
ASTL
$452M
| $10.4M | 7.26% |
1,525,461
-68,157
| -4% | -$489K |
2022 Q1
6 quarters
|
|
|
6
DELISTED
The Aaron's Company Inc
AAN
| $10.3M | 7.17% |
979,006
+126,437
| +15% | +$1.61M |
2021 Q1
10 quarters
|
|
7
Liberty Latin America Class C
LILAK
$1.61B
| $9.25M | 6.47% |
1,246,885
+141,714
| +13% | +$1.09M |
2020 Q3
12 quarters
|
|
|
8
Advance Auto Parts
AAP
$2.52B
| $8.36M | 5.85% |
+149,500
| New | +$10M |
2023 Q3
0 quarters
|
|
9
Sportsman's Warehouse
SPWH
$43.8M
| $6.58M | 4.61% |
1,466,534
+155,994
| +12% | +$806K |
2022 Q4
3 quarters
|
|
10
Garrett Motion
GTX
$4.83B
| $6.41M | 4.48% |
813,501
+150,999
| +23% | +$1.16M |
2023 Q2
1 quarter
|
|
11
Civeo
CVEO
$325M
| $6.16M | 4.31% |
297,074
+32,678
| +12% | +$635K |
2023 Q1
2 quarters
|
|
|
12
Orion Office REIT
ONL
$123M
| $5.53M | 3.87% |
1,062,010
+250,000
| +31% | +$1.52M |
2022 Q1
6 quarters
|
|
13
FTAI Infrastructure
FIP
$305M
| $5.5M | 3.85% |
1,709,541
-13,992
| -0.8% | -$48.3K |
2022 Q4
3 quarters
|
|
14
Lee Enterprises
LEE
$163M
| $4.28M | 3% |
400,011
+92,533
| +30% | +$1.13M |
2020 Q1
14 quarters
|
|
15
Sonida Senior Living
SNDA
$1.72B
| $3.03M | 2.12% |
336,680
+8,390
| +3% | +$77.3K |
2021 Q3
8 quarters
|
|
16
DELISTED
Gulf Island Fabrication
GIFI
| $2.88M | 2.02% |
881,717
| – | – |
2020 Q1
14 quarters
|
|
|
17
Quantum Corp
QMCO
$1.05B
| $1.71M | 1.2% |
140,272
-46,559
| -25% | -$769K |
2022 Q2
5 quarters
|
|
18
Modular Medical
MODD
$22.1M
| $1.18M | 0.82% |
33,838
| – | – |
2022 Q1
6 quarters
|
|
|
19
Natural Resource Partners
NRP
$1.46B
| $461K | 0.32% |
5,848
-12,437
| -68% | -$807K |
2022 Q3
4 quarters
|
|
|
20
Cognyte Software
CGNT
$650M
| – | – |
-788,761
| Closed | -$4.8M | – |
|
|
21
California Resources
CRC
$4.76B
| – | – |
-137,000
| Closed | -$6.2M | – |
|
|
22
The Gap Inc
GAP
$7.93B
| – | – |
-844,250
| Closed | -$7.54M | – |
|
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Solas Capital Management's Q3 2023 Portfolio in Review
As of Q3 2023, Solas Capital Management held 22 positions worth $143M, down 4.9% from $150M the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Solas Capital Management deployed $6.82M of net new capital in Q3 2023, opening 1 new position and adding to 12 existing holdings. Its largest new stake was Advance Auto Parts: 149,500 shares worth $8.36M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 27% of assets, up from 25% a quarter earlier, followed by Energy and Technology.
On the sell side, the largest reduction was Natural Resource Partners, an estimated $807K trimmed.
- Solas Capital Management's largest Q3 2023 buy was Advance Auto Parts: 149,500 shares worth $8.36M.
- Solas Capital Management added most to Kyndryl in Q3 2023, an estimated $5.47M increase.
- Solas Capital Management's biggest Q3 2023 reduction was Natural Resource Partners, cutting an estimated $807K.
- Solas Capital Management fully exited The Gap Inc in Q3 2023, selling an estimated $7.54M.
- Solas Capital Management's ten largest holdings make up 78% of its $143M portfolio in Q3 2023.
- Solas Capital Management opened 1 new position and closed 3 in Q3 2023.
- Solas Capital Management's portfolio value fell 4.9% quarter-over-quarter to $143M.
Based on Solas Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.