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Solas Capital Management Portfolio holdings
AUM
$187M
Turnover
13.04%
1-Year Est. Return
12.91%
This Fund
S&P 500
This Quarter Est. Return
+19.56%
1 Year Est. Return
+12.91%
3 Year Est. Return
+62.45%
5 Year Est. Return
+50.69%
10 Year Est. Return
–
AUM
$187M
AUM Growth
+$12.7M
(+7.3%)
Cap. Flow
-$9.5M
Cap. Flow % of AUM
Cap. Flow %
-5.1%
Top 10 Holdings %
Top 10 Hldgs %
72.74%
Holding
23
New
1
Increased
6
Reduced
8
Closed
2
Avg Time Held
1.9
years
Top 10 Avg Time Held
1.6
years
Top 20 Avg Time Held
1.7
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SANUWAVE Health Inc
SNWV
|
+$5.01M |
| 2 |
Euronet Worldwide
EEFT
|
+$3.7M |
| 3 |
LuxExperience B.V.
LUXE
|
+$2.75M |
| 4 |
AdvanSix
ASIX
|
+$1.22M |
| 5 |
Burford Capital
BUR
|
+$1.05M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Molina Healthcare
MOH
|
+$5.17M |
| 2 |
Fennec Pharmaceuticals
FENC
|
+$4.84M |
| 3 |
Algoma Steel
ASTL
|
+$4.33M |
| 4 |
Sonida Senior Living
SNDA
|
+$3.88M |
| 5 |
Grocery Outlet
GO
|
+$2.11M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 37.31% |
| 2 | Technology | 11.73% |
| 3 | Energy | 10.06% |
| 4 | Industrials | 8.4% |
| 5 | Communication Services | 7.36% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Fennec Pharmaceuticals
FENC
$359M
| $20.3M | 10.88% |
1,889,366
-592,832
| -24% | -$4.84M |
2019 Q2
28 quarters
|
|
2
Epsilon Energy
EPSN
$183M
| $18.8M | 10.06% |
3,470,761
| – | – |
2019 Q4
26 quarters
|
|
3
Alpha Cognition
ACOG
$190M
| $13.9M | 7.45% |
1,924,617
| – | – |
2024 Q4
6 quarters
|
|
|
4
Sonida Senior Living
SNDA
$1.65B
| $13.8M | 7.38% |
337,679
-108,200
| -24% | -$3.88M |
2021 Q3
19 quarters
|
|
5
Lee Enterprises
LEE
$136M
| $13.7M | 7.36% |
1,549,944
-134,542
| -8% | -$1.22M |
2020 Q1
25 quarters
|
|
6
Insperity
NSP
$1.85B
| $11.6M | 6.24% |
281,852
+30,000
| +12% | +$983K |
2025 Q4
2 quarters
|
|
|
7
Grocery Outlet
GO
$1.31B
| $11.4M | 6.09% |
1,139,058
-256,127
| -18% | -$2.11M |
2025 Q1
5 quarters
|
|
|
8
AdvanSix
ASIX
$419M
| $11.4M | 6.09% |
571,324
+54,295
| +11% | +$1.22M |
2025 Q2
4 quarters
|
|
9
Advance Auto Parts
AAP
$2.89B
| $10.5M | 5.64% |
169,163
| – | – |
2023 Q3
11 quarters
|
|
10
Kyndryl
KD
$2.96B
| $10.4M | 5.55% |
915,443
| – | – |
2025 Q4
2 quarters
|
|
|
11
Molina Healthcare
MOH
$10.6B
| $9.2M | 4.93% |
40,219
-28,500
| -41% | -$5.17M |
2025 Q3
3 quarters
|
|
|
12
Euronet Worldwide
EEFT
$2.47B
| $9.15M | 4.9% |
124,988
+53,000
| +74% | +$3.7M |
2025 Q4
2 quarters
|
|
|
13
SANUWAVE Health Inc
SNWV
$50.3M
| $6.11M | 3.27% |
610,968
+323,454
| +113% | +$5.01M |
2025 Q1
5 quarters
|
|
14
Seaport Entertainment Group
SEG
$289M
| $5.66M | 3.03% |
212,892
-10,026
| -4% | -$236K |
2025 Q3
3 quarters
|
|
|
15
Burford Capital
BUR
$823M
| $4.96M | 2.66% |
1,210,944
+230,000
| +23% | +$1.05M |
2026 Q1
1 quarter
|
|
16
MAIA Biotechnology
MAIA
$67.9M
| $4.36M | 2.34% |
3,030,845
-1,266,159
| -29% | -$1.68M |
2026 Q1
1 quarter
|
|
17
Enviri
NVRI
$519M
| $4.02M | 2.16% |
183,333
-17,872
| -9% | -$357K |
2026 Q1
1 quarter
|
|
|
18
LuxExperience B.V.
LUXE
$1.35B
| $2.56M | 1.37% |
+344,529
| New | +$2.75M |
2026 Q2
0 quarters
|
|
19
Alight
ALIT
$261M
| $2.38M | 1.28% |
212,691
| – | – |
2026 Q1
1 quarter
|
|
20
Modular Medical
MODD
$16.3M
| $1.97M | 1.06% |
438,095
+150,000
| +52% | +$683K |
2022 Q1
17 quarters
|
|
21
Hain Celestial
HAIN
$12.2M
| $480K | 0.26% |
856,064
| – | – |
2026 Q1
1 quarter
|
|
|
22
Algoma Steel
ASTL
$504M
| – | – |
-1,047,454
| Closed | -$4.33M | – |
|
23
Mercer International
MERC
$8.44M
| – | – |
-790,338
| Closed | -$1.12M | – |
|
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Solas Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Solas Capital Management held 23 positions worth $187M, up 7.3% from $174M the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Solas Capital Management withdrew a net $9.5M in Q2 2026, closing 2 positions and reducing 8 holdings. Its most notable exit was Algoma Steel, an estimated $4.33M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 37% of assets, up from 36% a quarter earlier, followed by Technology and Energy.
Against the trend, Solas Capital Management opened a new position in LuxExperience B.V. worth $2.56M.
- Solas Capital Management's largest Q2 2026 buy was LuxExperience B.V.: 344,529 shares worth $2.56M.
- Solas Capital Management added most to SANUWAVE Health Inc in Q2 2026, an estimated $5.01M increase.
- Solas Capital Management's biggest Q2 2026 reduction was Molina Healthcare, cutting an estimated $5.17M.
- Solas Capital Management fully exited Algoma Steel in Q2 2026, selling an estimated $4.33M.
- Solas Capital Management's ten largest holdings make up 73% of its $187M portfolio in Q2 2026.
- Solas Capital Management opened 1 new position and closed 2 in Q2 2026.
- Solas Capital Management's portfolio value rose 7.3% quarter-over-quarter to $187M.
Based on Solas Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.