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SOLAS CAPITAL MANAGEMENT, LLC

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DARIEN CT Investment Advisor Hedge Fund
13F Summary

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Equal-WT
WhaleScore 2.0 ?

84

S&P 500
WhaleScore ?

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Equal-WT
WhaleScore 1.0 ?

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 $537,737,000 (Form ADV from 2023-11-03). Their last reported 13F filing for Q3 2023 included $142,946,928 in managed 13F securities and a top 10 holdings concentration of 78.5%. Solas Capital Management's largest holding is Epsilon Energy Ltd with shares held of 3,768,467. Whalewisdom has at least 20 13F filings, 13 13D filings, 30 13G filings, and 42 Form 4 filings

2023-09-30

Top Buys (13F)

Name % Change
AAP Advance Auto Parts, 5.85%
KD Kyndryl Holdings Inc 5.23%
GTX Garrett Motion Inc 1.15%
EPSN Epsilon Energy Ltd 1.1%
CVEO Civeo Corp 0.88%

2023-09-30

Top Sells (13F)

Name % Change
GPS Gap (The) 5.02%
CRC California Resources 4.13%
CGNT Cognyte Software Ltd 3.2%
QMCO Quantum Corp 1.49%
FIP FTAI Infrastructure 0.38%

2023-09-30

13F Holdings Summary

Name $ Change
EPSN Epsilon Energy Ltd 13.92%
KD Kyndryl Holdings Inc 12.05%
FENC Fennec Pharmaceutica 9.07%
AMBP Ardagh Metal Packagi 7.62%
ASTL Algoma Steel Group I 7.26%

2023-09-30

13F Activity

Market Value $143m, Prior: $150m
New Purchases 1 stocks
Additional Purchases 12 stocks
Sold out of 3 stocks
Reduced holdings in 4 stocks
Top 10 Holdings % 78.5%
Turnover %[1] 21.05%
Turnover Alt %[2] 14.51%
Time Held Top 20 5.3684 quarters
Time Held Top 10 4.6 quarters
Time Held All 7 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.

2023-09-30

13F Sector Allocation Over Time

2023-09-30

Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2023-09-30

Portfolio Performance