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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
+19.09%
1 Year Est. Return
+6.33%
3 Year Est. Return
+41.54%
5 Year Est. Return
+46.6%
10 Year Est. Return
–
AUM
$161M
AUM Growth
+$18.1M
(+13%)
Cap. Flow
-$6.57M
Cap. Flow
% of AUM
-4.08%
Top 10 Holdings %
Top 10 Hldgs %
70.6%
Holding
26
New
7
Increased
3
Reduced
11
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Flex
FLEX
|
+$8.9M |
| 2 |
KLG
WK Kellogg Co
KLG
|
+$8.3M |
| 3 |
Sweetgreen
SG
|
+$6.37M |
| 4 |
ZIMV
ZimVie
ZIMV
|
+$6.22M |
| 5 |
Liberty Latin America Class C
LILAK
|
+$2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Kyndryl
KD
|
+$13.1M |
| 2 |
Garrett Motion
GTX
|
+$6.41M |
| 3 |
Ardagh Metal Packaging
AMBP
|
+$3.69M |
| 4 |
Fennec Pharmaceuticals
FENC
|
+$2.88M |
| 5 |
Algoma Steel
ASTL
|
+$2.67M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 21.22% |
| 2 | Healthcare | 19.75% |
| 3 | Energy | 11.89% |
| 4 | Technology | 11.14% |
| 5 | Industrials | 11.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Epsilon Energy
EPSN
$170M
| $19.1M | 11.89% |
3,768,467
| – | – |
|
|
2
Fennec Pharmaceuticals
FENC
$351M
| $15.5M | 9.6% |
1,378,513
-347,054
| -20% | -$2.88M |
|
|
3
Algoma Steel
ASTL
$445M
| $11.8M | 7.35% |
1,180,057
-345,404
| -23% | -$2.67M |
|
|
ZIMV
4
DELISTED
ZimVie
ZIMV
| $11M | 6.8% |
+617,072
| New | +$6.22M |
|
|
5
Liberty Latin America Class C
LILAK
$1.67B
| $10.4M | 6.44% |
1,555,503
+308,618
| +25% | +$2M |
|
|
6
Flex
FLEX
$46.8B
| $10.2M | 6.34% |
+444,545
| New | +$8.9M |
|
|
KLG
7
DELISTED
WK Kellogg Co
KLG
| $9.69M | 6.01% |
+737,128
| New | +$8.3M |
|
|
8
Ardagh Metal Packaging
AMBP
$2.96B
| $9.28M | 5.76% |
2,416,866
-1,061,926
| -31% | -$3.69M |
|
|
AAN
9
DELISTED
The Aaron's Company Inc
AAN
| $9.01M | 5.6% |
828,500
-150,506
| -15% | -$1.4M |
|
|
10
Kyndryl
KD
$3.24B
| $7.74M | 4.8% |
372,345
-768,836
| -67% | -$13.1M |
|
11
Advance Auto Parts
AAP
$3.55B
| $7.24M | 4.49% |
118,600
-30,900
| -21% | -$1.69M |
|
|
12
Sweetgreen
SG
$679M
| $6.84M | 4.25% |
+605,747
| New | +$6.37M |
|
13
Sportsman's Warehouse
SPWH
$44.9M
| $5.58M | 3.46% |
1,309,117
-157,417
| -11% | -$747K |
|
14
FTAI Infrastructure
FIP
$402M
| $5.06M | 3.14% |
1,300,361
-409,180
| -24% | -$1.43M |
|
15
Civeo
CVEO
$338M
| $5M | 3.11% |
219,021
-78,053
| -26% | -$1.69M |
|
|
ONL
16
Orion Office REIT
ONL
$154M
| $4.77M | 2.96% |
834,776
-227,234
| -21% | -$1.19M |
|
|
GIFI
17
DELISTED
Gulf Island Fabrication
GIFI
| $3.77M | 2.34% |
870,702
-11,015
| -1% | -$44.5K |
|
18
Sonida Senior Living
SNDA
$1.83B
| $3.54M | 2.2% |
366,752
+30,072
| +9% | +$282K |
|
19
Lee Enterprises
LEE
$181M
| $3.26M | 2.02% |
413,997
+13,986
| +3% | +$134K |
|
20
Modular Medical
MODD
$11.7M
| $1.85M | 1.15% |
33,838
| – | – |
|
21
Ball Corp
BALL
$17B
| $239K | 0.15% |
+4,147
| New | +$214K |
|
|
BDN
22
Brandywine Realty Trust
BDN
$546M
| $146K | 0.09% |
+27,000
| New | +$118K |
|
|
TDAY
23
USA Today Co
TDAY
$1.32B
| $57.5K | 0.04% |
+25,000
| New | +$55.7K |
|
|
24
Garrett Motion
GTX
$5.86B
| – | – |
-813,501
| Closed | -$6.41M |
|
25
Natural Resource Partners
NRP
$1.28B
| – | – |
-5,848
| Closed | -$461K |
|
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Solas Capital Management's Q4 2023 Portfolio in Review
As of Q4 2023, Solas Capital Management held 26 positions worth $161M, up 13% from $143M the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Solas Capital Management withdrew a net $6.57M in Q4 2023, closing 3 positions and reducing 11 holdings. Its most notable exit was Garrett Motion, an estimated $6.41M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 21% of assets, down from 27% a quarter earlier, followed by Healthcare and Energy.
Against the trend, Solas Capital Management opened a new position in Flex worth $10.2M.
- Solas Capital Management's largest Q4 2023 buy was Flex: 444,545 shares worth $10.2M.
- Solas Capital Management added most to Liberty Latin America Class C in Q4 2023, an estimated $2M increase.
- Solas Capital Management's biggest Q4 2023 reduction was Kyndryl, cutting an estimated $13.1M.
- Solas Capital Management fully exited Garrett Motion in Q4 2023, selling an estimated $6.41M.
- Solas Capital Management's ten largest holdings make up 71% of its $161M portfolio in Q4 2023.
- Solas Capital Management opened 7 new positions and closed 3 in Q4 2023.
- Solas Capital Management's portfolio value rose 13% quarter-over-quarter to $161M.
Based on Solas Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.