Solas Capital Management, LLC

CIK

1604867

Location

DARIEN, CT

Portfolio Value

Small $216,058,871

Diversification

Diversified

Filing Date

Global Rank

#4,035 / 8,605 ▲ 41 · as of Mar 2026

Top Industry

Software - Application 22.9%

3Y Alpha vs SPY

-23.5%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

-4.0%

SPY

+76.5%

Annualised alpha

-22.2%

Max drawdown

−52.2%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

21 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

22.9%

+1.3 pts

Top 5

53.3%

+3.0 pts

Top 10

78.4%

+4.1 pts

HHI

950

Diversified+88

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Technology	30.7%	$66,362,496	3
Healthcare	27.9%	$60,358,425	6
Energy	9.9%	$21,379,887	1
Basic Materials	8.4%	$18,063,771	3
Communication Services	6.7%	$14,503,424	1
Consumer Defensive	4.8%	$10,435,298	2
Consumer Cyclical	4.1%	$8,923,348	1
Industrials	3.2%	$6,810,078	2
Real Estate	2.2%	$4,788,278	1
Financial Services	2.1%	$4,433,866	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

5 positions

Ticker	Company	Δ Shares	Shares	Value
LEE	LEE ENTERPRISES, Inc	+1,211,738	1,684,486	$14,503,424
KD	Kyndryl Holdings, Inc.	+507,809	915,443	$12,010,612
GO	Grocery Outlet Holding Corp.	+271,130	1,395,185	$9,836,054
NSP	Insperity, Inc.	+69,720	251,852	$6,810,078
MOH	Molina Healthcare, Inc.	+405	68,719	$9,160,242
No positions match the current search.

Trimmed

Positions the filer reduced

11 positions

Ticker	Company	Δ Shares	Shares	Value
MERC	Mercer International Inc.	−816,977	790,338	$1,122,279
ASIX	AdvanSix Inc.	−98,416	517,029	$12,615,507
FENC	Fennec Pharmaceuticals Inc.	−78,528	2,482,198	$15,265,517
EPSN	Epsilon Energy Ltd.	−74,425	3,470,761	$21,379,887
ACOG	Alpha Cognition Inc.	−43,435	1,924,617	$10,566,147
AAP	Advance Auto Parts Inc	−23,500	169,163	$8,923,348
ASTL	Algoma Steel Group Inc.	−21,897	1,047,454	$4,325,985
SNDA	Sonida Senior Living, Inc.	−9,658	445,879	$14,379,597
SNWV	SANUWAVE Health, Inc.	−6,015	287,514	$4,971,117
SEG	Seaport Entertainment Group Inc.	−4,660	222,918	$4,788,278
EEFT	Euronet Worldwide, Inc.	−1,506	71,988	$4,777,843
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
ALIT	Alight, Inc. / Delaware	4,253,822	$49,574,041
MAIA	MAIA Biotechnology, Inc.	4,297,004	$6,015,805
BUR	Burford Capital Ltd	980,944	$4,433,866
HAIN	Hain Celestial Group Inc	856,064	$599,244
NVRI	Enviri Corp	201,205	$0
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
MODD	Modular Medical, Inc.	4,424,059	$48,310,724
PRMB	Primo Brands Corp	460,619	$7,531,120
GT	Goodyear Tire & Rubber Co /Oh/	676,976	$5,930,309
GPRE	Green Plains Inc.	563,453	$5,521,839
TEX	Terex Corp	71,663	$3,825,370
SPWH	Sportsman's Warehouse Holdings, Inc.	44,387	$64,805
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

21 positions · $216,058,871 total · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
ALIT	Alight, Inc. / Delaware Technology	NEW	4,253,822	NEW	$49,574,041	NEW	22.94%
EPSN	Epsilon Energy Ltd. Energy	Reduced	3,470,761	-3,619,611	$21,379,887	−35.0%	9.90%
FENC	Fennec Pharmaceuticals Inc. Healthcare	Reduced	2,482,198	-78,528	$15,265,517	−22.6%	7.07%
LEE	LEE ENTERPRISES, Inc Communication Services	Added	1,684,486	+1,211,738	$14,503,424	+540.5%	6.71%
SNDA	Sonida Senior Living, Inc. Healthcare	Reduced	445,879	-9,658	$14,379,597	−3.2%	6.66%
ASIX	AdvanSix Inc. Basic Materials	Reduced	517,029	-98,416	$12,615,507	+18.5%	5.84%
KD	Kyndryl Holdings, Inc. Technology	Added	915,443	+507,809	$12,010,612	+10.9%	5.56%
ACOG	Alpha Cognition Inc. Healthcare	Reduced	1,924,617	-43,435	$10,566,147	−17.4%	4.89%
GO	Grocery Outlet Holding Corp. Consumer Defensive	Added	1,395,185	+271,130	$9,836,054	−13.4%	4.55%
MOH	Molina Healthcare, Inc. Healthcare	Added	68,719	+405	$9,160,242	−22.7%	4.24%
AAP	Advance Auto Parts Inc Consumer Cyclical	Reduced	169,163	-23,500	$8,923,348	+17.9%	4.13%
NSP	Insperity, Inc. Industrials	Added	251,852	+69,720	$6,810,078	−3.4%	3.15%
MAIA	MAIA Biotechnology, Inc. Healthcare	NEW	4,297,004	NEW	$6,015,805	NEW	2.78%
SNWV	SANUWAVE Health, Inc. Healthcare	Reduced	287,514	-6,015	$4,971,117	−43.2%	2.30%
SEG	Seaport Entertainment Group Inc. Real Estate	Reduced	222,918	-4,660	$4,788,278	+6.4%	2.22%
EEFT	Euronet Worldwide, Inc. Technology	Reduced	71,988	-1,506	$4,777,843	−14.6%	2.21%
BUR	Burford Capital Ltd Financial Services	NEW	980,944	NEW	$4,433,866	NEW	2.05%
ASTL	Algoma Steel Group Inc. Basic Materials	Reduced	1,047,454	-21,897	$4,325,985	−1.3%	2.00%
MERC	Mercer International Inc. Basic Materials	Reduced	790,338	-816,977	$1,122,279	−64.7%	0.52%
HAIN	Hain Celestial Group Inc Consumer Defensive	NEW	856,064	NEW	$599,244	NEW	0.28%
NVRI	Enviri Corp Industrials	NEW	201,205	NEW	$0	NEW	0.00%