Latest Solas Capital Management, LLC Stock Portfolio

$173Million– No. of Holdings #23

Solas Capital Management, LLC Performance:

2026 Q1: -6.68%YTD: -6.68%2025: -13.22%

Performance for 2026 Q1 is -6.68%, and YTD is -6.68%, and 2025 is -13.22%.

About Solas Capital Management, LLC and 13F Hedge Fund Stock Holdings

Solas Capital Management, LLC is a hedge fund based in Darien, CT. On 2026-05-15, the fund reported it's updated stock portfolio. In the 13F Holdings report, Solas Capital Management, LLC reported an equity portfolio of $173.9 Millions as of 31 Mar, 2026.

The top stock holdings of Solas Capital Management, LLC are EPSN, FENC, SNDA. The fund has invested 12.3% of it's portfolio in EPSILON ENERGY LTD and 8.8% of portfolio in FENNEC PHARMACEUTICALS INC.

The fund managers got completely rid off PRIMO BRANDS CORPORATION, GOODYEAR TIRE & RUBR CO (GT) and GREEN PLAINS INC (GPRE) stocks. They significantly reduced their stock positions in MERCER INTL INC (MERC), ADVANSIX INC (ASIX) and ADVANCE AUTO PARTS INC (AAP). Solas Capital Management, LLC opened new stock positions in MAIA BIOTECHNOLOGY INC (MAIA), BURFORD CAPITAL LIMITED (BUR) and ENVIRI CORP. The fund showed a lot of confidence in some stocks as they added substantially to LEE ENTERPRISES INC (LEE), KYNDRYL HLDGS INC (KD) and INSPERITY INC (NSP).

Solas Capital Management, LLC Equity Portfolio Value

Last Reported on: 15 May, 2026

Solas Capital Management, LLC Annual Return Estimates Vs S&P 500

Our best estimate is that Solas Capital Management, LLC made a return of -6.68% in the last quarter. In trailing 12 months, it's portfolio return was -12.26%.

Performance
S&P 500

New Buys

Ticker	$ Bought
maia biotechnology inc	6,015,810
burford capital limited	4,433,870
enviri corp	3,947,640
alight inc	2,478,700
modular med inc	1,521,140
modular med inc	1,521,140
hain celestial group inc	597,361

New stocks bought by Solas Capital Management, LLC

Additions

Ticker	% Inc.
lee enterprises inc	256
kyndryl hldgs inc	124
insperity inc	38.28
grocery outlet hldg corp	24.12
molina healthcare inc	0.59

Additions to existing portfolio by Solas Capital Management, LLC

Reductions

Ticker	% Reduced
mercer intl inc	-50.83
advansix inc	-15.99
advance auto parts inc	-12.2
fennec pharmaceuticals inc	-3.07
alpha cognition inc	-2.21
sonida senior living inc	-2.12
epsilon energy ltd	-2.1
algoma stl group inc	-2.05

Solas Capital Management, LLC reduced stake in above stock

Sold off

Ticker	$ Sold
goodyear tire & rubr co	-5,930,310
green plains inc	-5,521,840
primo brands corporation	-7,531,120
modular med inc	-1,610,800
modular med inc	-1,610,800
terex corp new	-3,825,370
sportsmans whse hldgs inc	-64,805

Solas Capital Management, LLC got rid off the above stocks

Sector Distribution

Solas Capital Management, LLC has about 27.3% of it's holdings in Healthcare sector.

Healthcare
Others
Energy
Technology
Communication Services
Basic Materials
Consumer Defensive
Consumer Cyclical
Industrials

Sector	%
Healthcare	27.3
Others	18.8
Energy	12.2
Technology	11
Communication Services	8
Basic Materials	7.8
Consumer Defensive	5.9
Consumer Cyclical	5.1
Industrials	3.9

Market Cap. Distribution

Solas Capital Management, LLC has about 0% of it's portfolio invested in the large-cap and mega-cap stocks.

MICRO-CAP
SMALL-CAP
MID-CAP
UNALLOCATED
NANO-CAP

Category	%
MICRO-CAP	33.3
SMALL-CAP	26.3
MID-CAP	19.9
UNALLOCATED	18.8
NANO-CAP	1.7

Stocks belong to which Index?

About 26.7% of the stocks held by Solas Capital Management, LLC either belong to S&P 500 or RUSSELL 2000 index.

Others
RUSSELL 2000
S&P 500

Index	%
Others	73.2
RUSSELL 2000	21.5
S&P 500	5.2

Top 5 Winners (%)		%
LEE	lee enterprises inc	38.4 %
ASIX	advansix inc	37.8 %
EPSN	epsilon energy ltd	32.4 %
AAP	advance auto parts inc	32.1 %
	seaport entmt group inc	8.6 %

Top 5 Winners ($)		$
EPSN	epsilon energy ltd	5.3 M
ASIX	advansix inc	4.0 M
LEE	lee enterprises inc	3.9 M
AAP	advance auto parts inc	2.4 M
	seaport entmt group inc	0.4 M

Top 5 Losers (%)		%
KD	kyndryl hldgs inc	-42.5 %
SNWV	sanuwave health inc	-41.6 %
GO	grocery outlet hldg corp	-28.1 %
NSP	insperity inc	-27.1 %
MOH	molina healthcare inc	-23.1 %

Top 5 Losers ($)		$
KD	kyndryl hldgs inc	-8.9 M
FENC	fennec pharmaceuticals inc	-3.9 M
GO	grocery outlet hldg corp	-3.8 M
SNWV	sanuwave health inc	-3.6 M
MOH	molina healthcare inc	-2.8 M

Solas Capital Management, LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Solas Capital Management, LLC

Solas Capital Management, LLC has 23 stocks in it's portfolio. About 73.7% of the portfolio is in top 10 stocks. KD proved to be the most loss making stock for the portfolio. EPSN was the most profitable stock for Solas Capital Management, LLC last quarter.

Last Reported on: 15 May, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAP	advance auto parts inc	5.13	169,163	8,923,350	reduced	-12.2

ALIT	alight inc	1.43	4,253,820	2,478,700	new

ASIX	advansix inc	7.26	517,029	12,615,500	reduced	-15.99

ASTL	algoma stl group inc	2.49	1,047,450	4,325,980	reduced	-2.05

BUR	burford capital limited	2.55	980,944	4,433,870	new

EEFT	euronet worldwide inc	2.75	71,988	4,777,840	reduced	-2.05

EPSN	epsilon energy ltd	12.30	3,470,760	21,379,900	reduced	-2.1

FENC	fennec pharmaceuticals inc	8.78	2,482,200	15,265,500	reduced	-3.07

GO	grocery outlet hldg corp	5.66	1,395,180	9,836,050	added	24.12

GPRE	green plains inc	0.00	0.00	0.00	sold off	-100

GT	goodyear tire & rubr co	0.00	0.00	0.00	sold off	-100

HAIN	hain celestial group inc	0.34	856,064	597,361	new

KD	kyndryl hldgs inc	6.91	915,443	12,010,600	added	124

LEE	lee enterprises inc	8.02	1,684,490	13,945,400	added	256

MAIA	maia biotechnology inc	3.46	4,297,000	6,015,810	new

MERC	mercer intl inc	0.64	790,338	1,122,280	reduced	-50.83

MODD	modular med inc	0.88	9,603	1,521,140	new

MODD	modular med inc	0.00	0.00	0.00	sold off	-100

MOH	molina healthcare inc	5.27	68,719	9,160,240	added	0.59

NSP	insperity inc	3.92	251,852	6,810,080	added	38.28