Solas Capital Management, LLC

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, Solas Capital Management, LLC maintained a portfolio of 26 distinct positions. The most significant new addition to the portfolio was KYNDRYL HLDGS INC, which now represents 6.14% of the total fund value. They heavily accumulated shares in FENNEC PHARMACEUTICA, increasing their position by 17.0%. Conversely, Solas Capital Management, LLC completely exited their position in REGENERON PHARMACEUT.
PCA Score Concentration Risk
Risk ENB
Total Positions
26
Quarter
2025 Q4
Top Holding
FENC (11.2%)
Top 10 Concentration
70.8%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-25 of 26
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
FENC
FENNEC PHARMACE...
Healthcare 11.19% 12.50% #1
Prev: #1
6.5 372,824 17.0%
P
S
2,560,726 $19,717,590 2019 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
EPSN
EPSILON ENERGY ...
Energy 9.33% 11.13% #2
Prev: #2
3.7 -74,427 -2.1%
P
S
3,545,186 $16,449,663 2019 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SNDA
SONIDA SENIOR L...
Healthcare 8.43% 7.91% #3
Prev: #3
3.4 -12,172 -2.6%
P
S
455,537 $14,855,062 2021 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ACOG
ALPHA COGNITION...
Healthcare 7.26% 5.09% #4 6
Prev: #10
5.1 685,860 53.5%
P
S
1,968,052 $12,792,338 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MOH
MOLINA HEALTHCA...
Healthcare 6.73% 6.63% #5 1
Prev: #4
4.8 11,577 20.4%
P
S
68,314 $11,855,212 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
GO
GROCERY OUTLET ...
Consumer Defensive 6.44% 6.62% #6 1
Prev: #5
4.8 447,913 66.2%
P
S
1,124,055 $11,352,956 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
KD
KYNDRYL HLDGS I...
Technology 6.14% #7
Prev: #—
4.5 407,634 no change
NEW
407,634 $10,826,759 2021 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ASIX
ADVANSIX INC
Basic Materials 6.04% 6.16% #8 1
Prev: #7
4.5 94,304 18.1%
P
S
615,445 $10,647,199 2020 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
SNWV
SANUWAVE HEALTH...
Healthcare 4.97% 4.61% #9 2
Prev: #11
4.1 92,225 45.8%
P
S
293,529 $8,758,905 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
AAP
ADVANCE AUTO PA...
Consumer Cyclical 4.30% 5.49% #10 1
Prev: #9
3.8 46,046 31.4%
P
S
192,663 $7,571,656 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
PRMB
PRIMO BRANDS CO...
Consumer Defensive 4.27% #11
Prev: #—
3.7 460,619 no change
NEW
460,619 $7,531,121 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
NSP
INSPERITY INC
Industrials 4.00% #12
Prev: #—
3.6 182,132 no change
NEW
182,132 $7,052,151 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GT
GOODYEAR TIRE &...
Consumer Cyclical 3.36% 3.16% #13 1
Prev: #14
1.4 -14,593 -2.1%
P
S
676,976 $5,930,310 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
EEFT
EURONET WORLDWI...
Technology 3.17% #14
Prev: #—
3.3 73,494 no change
NEW
73,494 $5,593,628 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GPRE
GREEN PLAINS IN...
Basic Materials 3.13% #15
Prev: #—
3.3 563,453 no change
NEW
563,453 $5,521,839 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SEG
SEAPORT ENTMT G...
Real Estate 2.55% 3.25% #16 3
Prev: #13
1.0 -4,660 -2.0%
P
S
227,578 $4,499,217 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ASTL
ALGOMA STL GROU...
Basic Materials 2.49% 2.37% #17 1
Prev: #16
1.0 -21,897 -2.0%
P
S
1,069,351 $4,384,339 2022 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
TEX
TEREX CORP NEW
Industrials 2.17% #18
Prev: #—
2.9 71,663 no change
NEW
71,663 $3,825,371 2025 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MERC
MERCER INTL INC
Basic Materials 1.81% 2.90% #19 4
Prev: #15
0.7 -42,717 -2.6%
P
S
1,607,315 $3,182,484 2024 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
LEE
LEE ENTERPRISES...
Communication Services 1.26% 1.57% #20 1
Prev: #19
0.5 no change no change
P
S
472,748 $2,217,188 2020 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
MODD
MODULAR MED INC
Healthcare 0.91% 1.61% #21 3
Prev: #18
2.4 645,579 17.1%
P
S
4,424,059 $1,610,800 2022 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
SPWH
SPORTSMANS WHSE...
Consumer Cyclical 0.04% 0.32% #22 2
Prev: #20
0.2 -146,729 -76.8%
P
S
44,387 $64,805 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
REGN
REGENERON PHARM...
Healthcare 0.00% 6.25%
Sold All 😨
(Was: #6)
0.3 -18,218 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ZIMV
ZIMVIE INC
Unknown 0.00% 6.13%
Sold All 😨
(Was: #8)
0.3 -530,013 -100.0%
CLOSED
$— 2022 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ODP
THE ODP CORP
Consumer Cyclical 0.00% 4.49%
Sold All 😨
(Was: #12)
0.3 -264,097 -100.0%
CLOSED
$— 2021 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
VTOL
BRISTOW GROUP I...
Energy 0.00% 1.79%
Sold All 😨
(Was: #17)
0.3 -81,443 -100.0%
CLOSED
$— 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-25 of 26 holdings

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