Latest Solas Capital Management, LLC Stock Portfolio

Solas Capital Management, LLC Performance:

2025 Q4: -9.68%YTD: -13.22%2024: -1.9%

Performance for 2025 Q4 is -9.68%, and YTD is -13.22%, and 2024 is -1.9%.

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

Solas Capital Management, LLC is a hedge fund based in Darien, CT. On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, Solas Capital Management, LLC reported an equity portfolio of $176.2 Millions as of 31 Dec, 2025.

The top stock holdings of Solas Capital Management, LLC are FENC, EPSN, SNDA. The fund has invested 11.2% of it's portfolio in FENNEC PHARMACEUTICALS INC and 9.3% of portfolio in EPSILON ENERGY LTD.

The fund managers got completely rid off REGENERON PHARMACEUTICALS (REGN), ZIMVIE INC (ZIMV) and THE ODP CORP (ODP) stocks. They significantly reduced their stock positions in SPORTSMANS WHSE HLDGS INC (SPWH), SONIDA SENIOR LIVING INC (SNDA) and MERCER INTL INC (MERC). Solas Capital Management, LLC opened new stock positions in KYNDRYL HLDGS INC (KD), PRIMO BRANDS CORPORATION and INSPERITY INC (NSP). The fund showed a lot of confidence in some stocks as they added substantially to GROCERY OUTLET HLDG CORP (GO), ALPHA COGNITION INC and SANUWAVE HEALTH INC (SNWV).

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

Our best estimate is that Solas Capital Management, LLC made a return of -9.68% in the last quarter. In trailing 12 months, it's portfolio return was -13.22%.

Performance
S&P 500

New Buys

Ticker	$ Bought
kyndryl hldgs inc	10,826,800
primo brands corporation	7,531,120
insperity inc	7,052,150
euronet worldwide inc	5,593,630
green plains inc	5,521,840
terex corp new	3,825,370

New stocks bought by Solas Capital Management, LLC

Additions

Ticker	% Inc.
grocery outlet hldg corp	66.25
alpha cognition inc	53.49
sanuwave health inc	45.81
advance auto parts inc	31.41
molina healthcare inc	20.4
advansix inc	18.1
modular med inc	17.09
fennec pharmaceuticals inc	17.04

Additions to existing portfolio by Solas Capital Management, LLC

Reductions

Ticker	% Reduced
sportsmans whse hldgs inc	-76.77
sonida senior living inc	-2.6
mercer intl inc	-2.59
goodyear tire & rubr co	-2.11
epsilon energy ltd	-2.06
algoma stl group inc	-2.01
seaport entmt group inc	-2.01

Solas Capital Management, LLC reduced stake in above stock

Sold off

Ticker	$ Sold
zimvie inc	-10,038,400
the odp corp	-7,355,100
bristow group inc	-2,938,460
regeneron pharmaceuticals	-10,243,400

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.

Sector	%
Healthcare	27.3
Others	21.5
Basic Materials	11
Technology	9.3
Energy	9.3
Consumer Cyclical	7.7
Consumer Defensive	6.4
Industrials	6.2
Communication Services	1.3

Market Cap. Distribution

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

Category	%
SMALL-CAP	28
MID-CAP	25.9
MICRO-CAP	23.6
UNALLOCATED	21.5

Stocks belong to which Index?

About 36.6% of the stocks held by Solas Capital Management, LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	63.3
RUSSELL 2000	29.9
S&P 500	6.7

Top 5 Winners (%)		%
SNDA	sonida senior living inc	17.4 %
GT	goodyear tire & rubr co	16.9 %
ASTL	algoma stl group inc	15.2 %

Top 5 Winners ($)		$
SNDA	sonida senior living inc	2.3 M
GT	goodyear tire & rubr co	0.9 M
ASTL	algoma stl group inc	0.6 M

Top 5 Losers (%)		%
MODD	modular med inc	-46.1 %
AAP	advance auto parts inc	-33.1 %
GO	grocery outlet hldg corp	-32.0 %
MERC	mercer intl inc	-30.9 %
SPWH	sportsmans whse hldgs inc	-29.1 %

Top 5 Losers ($)		$
GO	grocery outlet hldg corp	-5.4 M
FENC	fennec pharmaceuticals inc	-3.9 M
AAP	advance auto parts inc	-3.7 M
SNWV	sanuwave health inc	-1.9 M
MERC	mercer intl inc	-1.5 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 22 stocks in it's portfolio. About 70.8% of the portfolio is in top 10 stocks. GO proved to be the most loss making stock for the portfolio. SNDA was the most profitable stock for Solas Capital Management, LLC last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AAP	advance auto parts inc	4.30	192,663	7,571,660	added	31.41

ASIX	advansix inc	6.04	615,445	10,647,200	added	18.1

ASTL	algoma stl group inc	2.49	1,069,350	4,384,340	reduced	-2.01

EEFT	euronet worldwide inc	3.17	73,494	5,593,630	new

EPSN	epsilon energy ltd	9.33	3,545,190	16,449,700	reduced	-2.06

FENC	fennec pharmaceuticals inc	11.19	2,560,730	19,717,600	added	17.04

GO	grocery outlet hldg corp	6.44	1,124,060	11,353,000	added	66.25

GPRE	green plains inc	3.13	563,453	5,521,840	new

GT	goodyear tire & rubr co	3.37	676,976	5,930,310	reduced	-2.11

KD	kyndryl hldgs inc	6.14	407,634	10,826,800	new

LEE	lee enterprises inc	1.26	472,748	2,217,190	unchanged	0.00

MERC	mercer intl inc	1.81	1,607,320	3,182,480	reduced	-2.59

MODD	modular med inc	0.91	4,424,060	1,610,800	added	17.09

MOH	molina healthcare inc	6.73	68,314	11,855,200	added	20.4

NSP	insperity inc	4.00	182,132	7,052,150	new

ODP	the odp corp	0.00	0.00	0.00	sold off	-100

REGN	regeneron pharmaceuticals	0.00	0.00	0.00	sold off	-100

SNDA	sonida senior living inc	8.43	455,537	14,855,100	reduced	-2.6

SNWV	sanuwave health inc	4.97	293,529	8,758,900	added	45.81

SPWH	sportsmans whse hldgs inc	0.04	44,387	64,805	reduced	-76.77