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Solas Capital Management is based out of Darien. Solas Capital Management is a hedge fund with 3 clients and discretionary assets under management (AUM) of $599,105,084 (Form ADV from 2024-03-27). Their last reported 13F filing for Q2 2024 included $182,918,295 in managed 13F securities
and a top 10 holdings concentration of 74.02%. Solas Capital Management's largest holding is Epsilon Energy Ltd with shares held of 3,768,467. Whalewisdom has at least 23 13F filings, 13 13D filings, 34 13G filings, and 43 Form 4 filings
Business Description
Solas Capital Management, LLC, a Delaware limited liability company based in Darien, Connecticut, has been providing investment advisory services since 2004. They currently serve a private investment fund for sophisticated investors, another private investment fund for a specific investor and its affiliates, and a sleeve of a pooled investment vehicle managed by a third party. These entities are collectively referred to as "Clients." Solas may expand its services to other funds, pooled investment vehicles, and separately managed accounts in the future.
Solas may allow its personnel to buy, sell, or hold securities or instruments similar to those recommended for Clients. This could create conflicts of interest, as the actions of Solas personnel may differ from those taken on behalf of Clients. Solas has established policies and procedures to monitor and resolve these conflicts, aiming for equitable solutions based on the specific circumstances.
Investment Strategy
Solas Capital Management typically invests a large majority of its clients' assets in equity and equity-related securities. Their investment approach focuses on fundamental value with respect to specific securities, both in long and short strategies, aiming to achieve absolute investment returns and preserve capital, regardless of market conditions. They strive to avoid significant net exposure to the market as a whole and instead focus on identifying specific investment situations that offer optimal risk-adjusted returns.
Solas Capital Management utilizes primary research and fundamental bottom-up analysis to develop a deep understanding of companies and identify opportunities across investment instruments. They aim to identify companies that will outperform as well as those that will underperform within specific industry sectors and across global markets. Their value-oriented strategy remains consistent regardless of market environment, and they typically maintain low net exposure, avoiding significant variations in net exposure or attempts to predict broad market movements.
Owners
- CATOR, JAMES, STEPHEN - CHIEF COMPLIANCE OFFICER
- GOLDEN, FREDERICK, TUCKER - CHIEF INVESTMENT OFFICER
- SOLAS CAPITAL HOLDINGS, LP - MEMBER
- GOLDEN, FREDERICK, TUCKER - LIMITED PARTNER
- GOLDEN, FREDERICK, TUCKER - GENERAL PARTNER Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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Other Contact Information
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2024-06-30
Top Buys (13F)
| Name | % Change |
|---|---|
| SLCA U.S. Silica Holdings | 6.55% |
| CRC California Resources | 4.07% |
| VSTS Vestis Corp | 4.05% |
| KD Kyndryl Holdings Inc | 3.36% |
| VSTO Vista Outdoor Inc | 1.73% |
2024-06-30
Top Sells (13F)
| Name | % Change |
|---|---|
| ZIMV ZimVie Inc | 4.4% |
| SNDA Sonida Senior Living | 2.06% |
| ONL Orion Office REIT In | 1.84% |
| GIFI Gulf Island Fabricat | 1.78% |
| LILAK Liberty Latin Americ | 1.3% |
2024-06-30
13F Holdings Summary
| Name | $ Change |
|---|---|
| EPSN Epsilon Energy Ltd | 11.23% |
| KD Kyndryl Holdings Inc | 9.34% |
| WBA Walgreens Boots Alli | 8.49% |
| SNDA Sonida Senior Living | 7.87% |
| AAN Aarons Holdings Comp | 6.67% |
2024-06-30
13F Activity
| Market Value | $183m, Prior: $156m |
| Inflows (Outflows) as % of Total MV | +19.734% |
| New Purchases | 3 stocks |
| Added To | 9 stocks |
| Sold out of | 2 stocks |
| Reduced holdings in | 7 stocks |
| Top 10 Holdings % | 74.02% |
| Turnover %[1] | 22.73% |
| Turnover Alt %[2] | 8.95% |
| Time Held Top 20 | 6.5 quarters |
| Time Held Top 10 | 6.2 quarters |
| Time Held All | 7.8 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2024-06-30
13F Sector Allocation Over Time
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2024-06-30
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2024-06-30