Solas Capital Management, LLC — 13F Holdings & Portfolio
CIK 1604867 · latest 13F-HR filed 2026-08-14
Solas Capital Management, LLC manages $186.6M in 13F-reported U.S. long-equity assets across 21 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are FENC (10.88%), EPSN (10.06%), ACOG (7.45%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 2 new positions and exited 3; 10 existing positions rose in reported value and 5 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-14
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 72.7%Cumulative share of the portfolio held in the largest N positions.
As of the firm’s regulatory filing dated Mar 27, 2026.
2ND FLOOR
DARIEN, CT 06820
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| Anderson, Robert, John Control | CHIEF OPERATING OFFICER since Feb 2025 | Less than 5% | Individual |
| GOLDEN, FREDERICK, TUCKER Control | CHIEF INVESTMENT OFFICER since Sep 2004 | Less than 5% | Individual |
| SOLAS CAPITAL HOLDINGS, LP Control | MEMBER since Dec 2018 | 75% or more | Domestic Entity |
| CATOR, JAMES, STEPHEN | CHIEF COMPLIANCE OFFICER since Nov 2023 | Less than 5% | Individual |
| GOLDEN, FREDERICK, TUCKER Control Indirect owner via SOLAS CAPITAL HOLDINGS, LP | LIMITED PARTNER since Dec 2018 | 75% or more | Individual |
| GOLDEN, FREDERICK, TUCKER Control Indirect owner via SOLAS CAPITAL HOLDINGS, LP | GENERAL PARTNER since Dec 2018 | General partner, trustee or manager | Individual |
Ownership & leadership changes · 8 filings with changes since Feb 14, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
- ChangedCATOR, JAMES, STEPHEN · no longer a control person
- AddedAnderson, Robert, John · CHIEF OPERATING OFFICER · Less than 5% · control person
- No longer listedNURTMAN, HOWARD, IAN · CCO · Less than 5% · control person · listed since Jun 2021
- AddedCATOR, JAMES, STEPHEN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ChangedGOLDEN, FREDERICK, TUCKER · indirect via SOLAS CAPITAL HOLDINGS, LP: title PARTNER → GENERAL PARTNER / LIMITED PARTNER; ownership 75% or more → General partner, trustee or manager
- No longer listedLEVY, ESTEE · CHIEF FINANCIAL OFFICER, CHIEF COMPLIANCE OFFICER, CHIEF OPERATING OFFICER · Less than 5% · control person · listed since May 2011
- AddedNURTMAN, HOWARD, IAN · CCO · Less than 5% · control person
- ChangedSOLAS CAPITAL HOLDINGS, LP · title PARTNERSHIP → MEMBER
- ChangedLEVY, ESTEE · title CHIEF FINANCIAL OFFICER, CHIEF COMPLIANCE OFFICER → CHIEF FINANCIAL OFFICER, CHIEF COMPLIANCE OFFICER, CHIEF OPERATING OFFICER
- AddedGOLDEN, FREDERICK, TUCKER · PARTNER · 75% or more · indirect via SOLAS CAPITAL HOLDINGS, LP · control person
- AddedSOLAS CAPITAL HOLDINGS, LP · PARTNERSHIP · 75% or more · control person
- ChangedGOLDEN, FREDERICK, TUCKER · title MANAGING MEMBER → CHIEF INVESTMENT OFFICER; ownership 75% or more → Less than 5%
- No longer listedATRE, ANAND · MANAGING MEMBER · 50–75% · control person · listed since Sep 2004
- ChangedGOLDEN, FREDERICK, TUCKER · ownership 50–75% → 75% or more
- ChangedLEVY, ESTEE · title CHIEF COMPLIANCE OFFICER → CHIEF FINANCIAL OFFICER, CHIEF COMPLIANCE OFFICER
- ListedATRE, ANAND · MANAGING MEMBER · 50–75% · control person
- ListedGOLDEN, FREDERICK, TUCKER · MANAGING MEMBER · 50–75% · control person
- ListedLEVY, ESTEE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- FENNEC PHARMACEUTICALS INC$5.0M +33.0%
- INSPERITY INC$4.8M +71.0%
- EURONET WORLDWIDE INC$4.4M +91.5%
- ALPHA COGNITION INC$3.3M +31.5%
- ADVANCE AUTO PARTS INC$1.6M +18.0%
Top Trims
- EPSILON ENERGY LTD-$2.6M -12.2%
- KYNDRYL HLDGS INC-$1.7M -13.8%
- MAIA BIOTECHNOLOGY INC-$1.7M -27.5%
- ADVANSIX INC-$1.3M -10.0%
- HAIN CELESTIAL GROUP INC-$117.8K -19.7%
Solas Capital Management, LLC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | FENNEC PHARMACEUTICALS INC | FENC | 31447P100 | $20.3M | 10.88% | 1,889,366 | SH |
| 2 | EPSILON ENERGY LTD | EPSN | 294375209 | $18.8M | 10.06% | 3,470,761 | SH |
| 3 | ALPHA COGNITION INC | ACOG | 02074J501 | $13.9M | 7.45% | 1,924,617 | SH |
| 4 | SONIDA SENIOR LIVING INC | SNDA | 140475203 | $13.8M | 7.38% | 337,679 | SH |
| 5 | LEE ENTERPRISES INC | LEE | 523768406 | $13.7M | 7.36% | 1,549,944 | SH |
| 6 | INSPERITY INC | NSP | 45778Q107 | $11.6M | 6.24% | 281,852 | SH |
| 7 | GROCERY OUTLET HLDG CORP | GO | 39874R101 | $11.4M | 6.09% | 1,139,058 | SH |
| 8 | ADVANSIX INC | ASIX | 00773T101 | $11.4M | 6.09% | 571,324 | SH |
| 9 | ADVANCE AUTO PARTS INC | AAP | 00751Y106 | $10.5M | 5.64% | 169,163 | SH |
| 10 | KYNDRYL HLDGS INC | KD | 50155Q100 | $10.4M | 5.55% | 915,443 | SH |
| 11 | MOLINA HEALTHCARE INC | MOH | 60855R100 | $9.2M | 4.93% | 40,219 | SH |
| 12 | EURONET WORLDWIDE INC | EEFT | 298736109 | $9.1M | 4.90% | 124,988 | SH |
| 13 | SANUWAVE HEALTH INC | SNWV | 80303D305 | $6.1M | 3.27% | 610,968 | SH |
| 14 | SEAPORT ENTMT GROUP INC | SEG | 812215200 | $5.7M | 3.03% | 212,892 | SH |
| 15 | BURFORD CAPITAL LIMITED | BUR | G17977110 | $5.0M | 2.66% | 1,210,944 | SH |
| 16 | MAIA BIOTECHNOLOGY INC | MAIA | 552641102 | $4.4M | 2.34% | 3,030,845 | SH |
| 17 | ENVIRI CORP | NVRI | 29390K102 | $4.0M | 2.16% | 183,333 | SH |
| 18 | LUXEXPERIENCE BV | LUXE | 55406W103 | $2.6M | 1.37% | 344,529 | SH |
| 19 | ALIGHT INC | ALIT | 01626W101 | $2.4M | 1.28% | 4,253,822 | SH |
| 20 | MODULAR MED INC | MODD | 60785L306 | $2.0M | 1.06% | 438,095 | SH |
| 21 | HAIN CELESTIAL GROUP INC | HAIN | 405217100 | $479.6K | 0.26% | 856,064 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $186.6M | 21 | 0001604867-26-000017 |
| 2026-03-31 | 2026-05-15 | $173.9M | 22 | 0001604867-26-000009 |
| 2025-12-31 | 2026-02-17 | $176.2M | 22 | 0001604867-26-000004 |
| 2025-09-30 | 2025-11-14 | $163.8M | 20 | 0001604867-25-000022 |
2ND FLOOR
DARIEN, CT 06820