Solas Capital Management, LLC

CIK

1604867

Location

DARIEN, CT

Portfolio Value

Micro $4,433,866

Diversification

Diversified

Filing Date

Global Rank

#4,583 / 8,586 ▼ 509

Top Industry

Biotechnology 18.8%

3Y Alpha vs SPY

-24.4%

Period ended 3 months ago

Filed May 15, 2026 · 32d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

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

Cloned portfolio

-9.2%

SPY

+78.1%

Annualised alpha

-24.4%

Max drawdown

−52.1%

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

12.7%

−9.0 pts

Top 5

46.2%

−4.0 pts

Top 10

76.1%

+1.9 pts

HHI

694

Diversified−167

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	35.7%	$60,358,425	6
Energy	12.7%	$21,379,887	1
Technology	11.4%	$19,268,433	3
Basic Materials	10.7%	$18,063,771	3
Communication Services	8.6%	$14,503,424	1
Consumer Defensive	6.2%	$10,435,298	2
Consumer Cyclical	5.3%	$8,923,348	1
Industrials	4.0%	$6,810,078	2
Real Estate	2.8%	$4,788,278	1
Financial Services	2.6%	$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
MAIA	MAIA Biotechnology, Inc.	4,297,004	$6,015,805
BUR	Burford Capital Ltd	980,944	$4,433,866
ALIT	Alight, Inc. / Delaware	4,253,822	$2,479,978
HAIN	Hain Celestial Group Inc	856,064	$599,244
NVRI-WI	Enviri II 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

1 positions · $4,433,866 total · Financial Services only · 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	History
BUR	Burford Capital Ltd Financial Services	NEW	980,944	NEW	$4,433,866	NEW	100.00%