Solas Capital Management, LLC
CIK
1604867
Location
DARIEN, CT
Portfolio Value
Small
$223,148,137
Diversification
Moderately concentrated
Filing Date
Global Rank
#3,937
/ 7,976
▼ 203
Top Industry
Medical Devices
38.9%
3Y Alpha vs SPY
-26.5%
Period ended 9 months ago
Filed Nov 14, 2025 · 7mo
23 quarters · since Mar 2020
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
-16.1%
SPY
+76.3%
Annualised alpha
-26.5%
Max drawdown
−55.9%
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
18 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025Top Position
35.6%
+4.6 pts
Top 5
63.6%
+2.2 pts
Top 10
85.3%
+1.3 pts
HHI
1,602
Moderately concentrated+228
Portfolio Trend
23 quarters · across all stocks
Sector Breakdown
As of Sep 30, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 67.1% | $149,784,303 |
| Energy | 9.5% | $21,181,312 |
| Basic Materials | 8.4% | $18,731,190 |
| Consumer Cyclical | 6.6% | $14,704,610 |
| Consumer Defensive | 4.9% | $10,852,079 |
| Real Estate | 2.4% | $5,322,894 |
| Communication Services | 1.2% | $2,571,749 |
Last Quarter's Activity
Export CSVTrimmed
Positions the filer reduced
12 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| SPWH | Sportsman's Warehouse Holdings, Inc. | −440,180 | 191,116 | $529,391 | |
| ASTL | Algoma Steel Group Inc. | −340,688 | 1,091,248 | $3,879,386 | |
| GO | Grocery Outlet Holding Corp. | −303,539 | 676,142 | $10,852,079 | |
| VTOL | Bristow Group Inc. | −168,751 | 81,443 | $2,938,463 | |
| SNWV | SANUWAVE Health, Inc. | −95,387 | 201,304 | $7,544,873 | |
| EPSN | Epsilon Energy Ltd. | −74,427 | 3,619,613 | $18,242,849 | |
| AAP | Advance Auto Parts Inc | −67,444 | 146,617 | $9,002,283 | |
| FENC | Fennec Pharmaceuticals Inc. | −45,000 | 2,187,902 | $20,478,762 | |
| MERC | Mercer International Inc. | −25,110 | 1,650,032 | $4,752,092 | |
| GT | Goodyear Tire & Rubber Co /Oh/ | −14,215 | 691,569 | $5,172,936 | |
| SNDA | Sonida Senior Living, Inc. | −7,002 | 467,709 | $12,964,893 | |
| REGN | Regeneron Pharmaceuticals, Inc. | −376 | 18,218 | $10,243,434 | |
| No positions match the current search. | |||||
Sold Out
Positions the filer fully exited
1 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| CTRN | Citi Trends Inc | 4,875 | $162,776 | |
| No positions match the current search. | ||||
18 positions ·
$223,148,137 total
· as of Sep 30, 2025
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Healthcare
Real Estate
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| SPWH |
Sportsman's Warehouse Holdings, Inc.
Consumer Cyclical
|
Reduced | 191,116 | $529,391 | 0.24% | |
| LEE |
LEE ENTERPRISES, Inc
Communication Services
|
Held | 472,748 | $2,571,749 | 1.15% | |
| VTOL |
Bristow Group Inc.
Energy
|
Reduced | 81,443 | $2,938,463 | 1.32% | |
| ASTL |
Algoma Steel Group Inc.
Basic Materials
|
Reduced | 1,091,248 | $3,879,386 | 1.74% | |
| MERC |
Mercer International Inc.
Basic Materials
|
Reduced | 1,650,032 | $4,752,092 | 2.13% | |
| GT |
Goodyear Tire & Rubber Co /Oh/
Consumer Cyclical
|
Reduced | 691,569 | $5,172,936 | 2.32% | |
| SEG |
Seaport Entertainment Group Inc.
Real Estate
|
NEW | 232,238 | $5,322,894 | 2.39% | |
| SNWV |
SANUWAVE Health, Inc.
Healthcare
|
Reduced | 201,304 | $7,544,873 | 3.38% | |
| ACOG |
Alpha Cognition Inc.
Healthcare
|
Added | 1,282,192 | $8,347,069 | 3.74% | |
| AAP |
Advance Auto Parts Inc
Consumer Cyclical
|
Reduced | 146,617 | $9,002,283 | 4.03% | |
| ASIX |
AdvanSix Inc.
Basic Materials
|
Added | 521,141 | $10,099,712 | 4.53% | |
| REGN |
Regeneron Pharmaceuticals, Inc.
Healthcare
|
Reduced | 18,218 | $10,243,434 | 4.59% | |
| GO |
Grocery Outlet Holding Corp.
Consumer Defensive
|
Reduced | 676,142 | $10,852,079 | 4.86% | |
| MOH |
Molina Healthcare, Inc.
Healthcare
|
NEW | 56,737 | $10,857,192 | 4.87% | |
| SNDA |
Sonida Senior Living, Inc.
Healthcare
|
Reduced | 467,709 | $12,964,893 | 5.81% | |
| EPSN |
Epsilon Energy Ltd.
Energy
|
Reduced | 3,619,613 | $18,242,849 | 8.18% | |
| FENC |
Fennec Pharmaceuticals Inc.
Healthcare
|
Reduced | 2,187,902 | $20,478,762 | 9.18% | |
| MODD |
Modular Medical, Inc.
Healthcare
|
Added | 3,778,480 | $79,348,080 | 35.56% |