Solas Capital Management, LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Solas Capital Management, LLC disclosed 22 US equity positions worth $176.2m in its Q4 2025 13F filing. The largest position was FENC at 11.2% of the reported book, followed by EPSN and SNDA. Against the Q3 2025 filing, it opened 6 new positions, added to 8 and reduced 7 among the top 22 holdings.
What did Solas Capital Management, LLC own in Q4 2025? Top 22 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | FENC FENNEC PHARMACEUTICALS INC | 11.2% | $19.7m | 2,560,726 | 17% | added | |
| 2 | EPSN EPSILON ENERGY LTD | 9.3% | $16.4m | 3,545,186 | -2% | reduced | |
| 3 | SNDA SONIDA SENIOR LIVING INC | Healthcare | 8.4% | $14.9m | 455,537 | -3% | reduced |
| 4 | ALPHA COGNITION INC | 7.3% | $12.8m | 1,968,052 | 53% | added | |
| 5 | MOH MOLINA HEALTHCARE INC | Healthcare | 6.7% | $11.9m | 68,314 | 20% | added |
| 6 | GO GROCERY OUTLET HLDG CORP | Consumer Defensive | 6.4% | $11.4m | 1,124,055 | 66% | added |
| 7 | KD KYNDRYL HLDGS INC | Technology | 6.1% | $10.8m | 407,634 | – | new |
| 8 | ASIX ADVANSIX INC | Basic Materials | 6.0% | $10.6m | 615,445 | 18% | added |
| 9 | SANUWAVE HEALTH INC | 5.0% | $8.8m | 293,529 | 46% | added | |
| 10 | AAP ADVANCE AUTO PARTS INC | Consumer Cyclical | 4.3% | $7.6m | 192,663 | 31% | added |
| 11 | PRMB PRIMO BRANDS CORPORATION | Consumer Defensive | 4.3% | $7.5m | 460,619 | – | new |
| 12 | NSP INSPERITY INC | Industrials | 4.0% | $7.1m | 182,132 | – | new |
| 13 | GT GOODYEAR TIRE & RUBR CO | Consumer Cyclical | 3.4% | $5.9m | 676,976 | -2% | reduced |
| 14 | EEFT EURONET WORLDWIDE INC | Technology | 3.2% | $5.6m | 73,494 | – | new |
| 15 | GPRE GREEN PLAINS INC | Basic Materials | 3.1% | $5.5m | 563,453 | – | new |
| 16 | SEG SEAPORT ENTMT GROUP INC | 2.6% | $4.5m | 227,578 | -2% | reduced | |
| 17 | ASTL ALGOMA STL GROUP INC | 2.5% | $4.4m | 1,069,351 | -2% | reduced | |
| 18 | TEX TEREX CORP NEW | Industrials | 2.2% | $3.8m | 71,663 | – | new |
| 19 | MERC MERCER INTL INC | Basic Materials | 1.8% | $3.2m | 1,607,315 | -3% | reduced |
| 20 | LEE LEE ENTERPRISES INC | 1.3% | $2.2m | 472,748 | 0% | held | |
| 21 | MODULAR MED INC | 0.9% | $1.6m | 4,424,059 | 17% | added | |
| 22 | SPWH SPORTSMANS WHSE HLDGS INC | 0.0% | $64.8k | 44,387 | -77% | reduced |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.