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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
-4.06%
1 Year Est. Return
+12.91%
3 Year Est. Return
+62.45%
5 Year Est. Return
+50.69%
10 Year Est. Return
–
AUM
$178M
AUM Growth
+$27.2M
(+18%)
Cap. Flow
+$41.2M
Cap. Flow
% of AUM
23.16%
Top 10 Holdings %
Top 10 Hldgs %
75.88%
Holding
22
New
3
Increased
5
Reduced
7
Closed
1
Avg Time Held
7.5
quarters
Top 10 Avg Time Held
4.4
quarters
Top 20 Avg Time Held
6.8
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SANUWAVE Health Inc
SNWV
|
+$19.1M |
| 2 |
Grocery Outlet
GO
|
+$14.5M |
| 3 |
Petco
WOOF
|
+$9.39M |
| 4 |
Algoma Steel
ASTL
|
+$3M |
| 5 |
Advance Auto Parts
AAP
|
+$2.06M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walgreens Boots Alliance
WBA
|
+$3.58M |
| 2 |
Par Pacific Holdings
PARR
|
+$1.59M |
| 3 |
Mural Oncology
MURA
|
+$1.39M |
| 4 |
Ardagh Metal Packaging
AMBP
|
+$975K |
| 5 |
ZimVie
ZIMV
|
+$647K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 39.69% |
| 2 | Consumer Discretionary | 20.84% |
| 3 | Energy | 20.53% |
| 4 | Materials | 8% |
| 5 | Consumer Staples | 7.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Epsilon Energy
EPSN
$180M
| $26.6M | 14.97% |
3,768,467
| – | – |
2019 Q4
21 quarters
|
|
|
2
SANUWAVE Health Inc
SNWV
$51M
| $20.7M | 11.62% |
+584,048
| New | +$19.1M |
2025 Q1
0 quarters
|
|
|
3
Grocery Outlet
GO
$1.18B
| $13.7M | 7.73% |
+982,515
| New | +$14.5M |
2025 Q1
0 quarters
|
|
4
Fennec Pharmaceuticals
FENC
$375M
| $13.7M | 7.71% |
2,250,919
| – | – |
2019 Q2
23 quarters
|
|
5
Sonida Senior Living
SNDA
$1.73B
| $12.1M | 6.82% |
520,360
+11,443
| +2% | +$271K |
2021 Q3
14 quarters
|
|
|
6
Advance Auto Parts
AAP
$2.5B
| $11.1M | 6.25% |
283,395
+47,911
| +20% | +$2.06M |
2023 Q3
6 quarters
|
|
|
7
Par Pacific Holdings
PARR
$4.13B
| $9.89M | 5.56% |
693,577
-101,423
| -13% | -$1.59M |
2024 Q3
2 quarters
|
|
|
8
Petco
WOOF
$664M
| $9.15M | 5.15% |
+3,000,000
| New | +$9.39M |
2025 Q1
0 quarters
|
|
|
9
Ardagh Metal Packaging
AMBP
$2.59B
| $9.1M | 5.12% |
3,013,910
-347,468
| -10% | -$975K |
2022 Q3
10 quarters
|
|
|
10
DELISTED
Walgreens Boots Alliance
WBA
| $8.79M | 4.94% |
786,787
-330,000
| -30% | -$3.58M |
2024 Q1
4 quarters
|
|
|
11
Algoma Steel
ASTL
$453M
| $7.92M | 4.45% |
1,460,646
+400,000
| +38% | +$3M |
2022 Q1
12 quarters
|
|
12
Alpha Cognition
ACOG
$192M
| $6.96M | 3.92% |
1,393,328
| – | – |
2024 Q4
1 quarter
|
|
13
Mercer International
MERC
$13.1M
| $6.3M | 3.55% |
1,025,157
-51,843
| -5% | -$348K |
2024 Q4
1 quarter
|
|
14
Lee Enterprises
LEE
$163M
| $5.01M | 2.82% |
482,212
| – | – |
2020 Q1
20 quarters
|
|
|
15
DELISTED
ZimVie
ZIMV
| $3.68M | 2.07% |
340,536
-49,220
| -13% | -$647K |
2023 Q4
5 quarters
|
|
16
Modular Medical
MODD
$22.1M
| $3.52M | 1.98% |
108,116
+25,413
| +31% | +$848K |
2022 Q1
12 quarters
|
|
17
Citi Trends
CTRN
$404M
| $3.35M | 1.89% |
151,412
| – | – |
2024 Q3
2 quarters
|
|
|
LOGC
18
DELISTED
ContextLogic
LOGC
| $2.48M | 1.39% |
355,154
| – | – |
2024 Q3
2 quarters
|
|
19
Sportsman's Warehouse
SPWH
$44.2M
| $1.84M | 1.04% |
1,852,091
+744,954
| +67% | +$1.25M |
2022 Q4
9 quarters
|
|
|
20
DELISTED
Mural Oncology
MURA
| $1.12M | 0.63% |
887,995
-381,005
| -30% | -$1.39M |
2024 Q1
4 quarters
|
|
21
Kyndryl
KD
$2.57B
| $705K | 0.4% |
22,445
-4,373
| -16% | -$164K |
2022 Q4
9 quarters
|
|
22
Vestis
VSTS
$1.87B
| – | – |
-41,386
| Closed | -$631K | – |
|
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Solas Capital Management's Q1 2025 Portfolio in Review
As of Q1 2025, Solas Capital Management held 22 positions worth $178M, up 18% from $151M the previous quarter. Its ten largest holdings account for 76% of the portfolio.
Solas Capital Management deployed $41.2M of net new capital in Q1 2025, opening 3 new positions and adding to 5 existing holdings. Its largest new stake was SANUWAVE Health Inc: 584,048 shares worth $20.7M.
By sector, the portfolio is most concentrated in Healthcare at 40% of assets, up from 38% a quarter earlier, followed by Consumer Discretionary and Energy.
On the sell side, the largest reduction was Walgreens Boots Alliance, an estimated $3.58M trimmed.
- Solas Capital Management's largest Q1 2025 buy was SANUWAVE Health Inc: 584,048 shares worth $20.7M.
- Solas Capital Management added most to Algoma Steel in Q1 2025, an estimated $3M increase.
- Solas Capital Management's biggest Q1 2025 reduction was Walgreens Boots Alliance, cutting an estimated $3.58M.
- Solas Capital Management fully exited Vestis in Q1 2025, selling an estimated $631K.
- Solas Capital Management's ten largest holdings make up 76% of its $178M portfolio in Q1 2025.
- Solas Capital Management opened 3 new positions and closed 1 in Q1 2025.
- Solas Capital Management's portfolio value rose 18% quarter-over-quarter to $178M.
Based on Solas Capital Management's 13F filing for Q1 2025, filed 15 May 2025.