Skip to content
Disclosery

Solas Capital Management, LLC

Follow

13F filer, CIK 1604867, DARIEN, CT

Solas Capital Management, LLC reported $163,837,793 across 20 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 73.93% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001604867-25-000022

Period
2025-09-30
Reported value
$164M
Holdings
20
Top 10 weight
73.93%
New
2
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MOHnew+56,737$10.9M
SEGnew+232,238$5.32M
ODPadded+122,952$3.42M
ASIXadded+72,135$1.4M
MODDadded+598,890$419K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
WALGREENS BOOTS ALLIANCE INCexited-771,300-$8.85M
VTOLreduced-168,751-$6.09M
GOreduced-303,539-$4.87M
AAPreduced-67,444-$4.14M
SNWVreduced-95,387-$3.58M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001604867-25-000022, largest first. % of portfolio is the value over $163,837,793, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FENCFENNEC PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,923,536 shares; 2024Q4: 2,250,919 shares; 2025Q1: 2,250,919 shares; 2025Q2: 2,232,902 shares; 2025Q3: 2,187,902 shares 2,187,902$20.5M12.5%-45,000Timeline
EPSNEPSILON ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,768,467 shares; 2024Q4: 3,768,467 shares; 2025Q1: 3,768,467 shares; 2025Q2: 3,694,040 shares; 2025Q3: 3,619,613 shares 3,619,613$18.2M11.13%-74,427Timeline
SNDASONIDA SENIOR LIVING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 582,917 shares; 2024Q4: 508,917 shares; 2025Q1: 520,360 shares; 2025Q2: 474,711 shares; 2025Q3: 467,709 shares 467,709$13M7.91%-7,002Timeline
MOHMOLINA HEALTHCARE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 56,737 shares 56,737$10.9M6.63%newTimeline
GOGROCERY OUTLET HLDG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 982,515 shares; 2025Q2: 979,681 shares; 2025Q3: 676,142 shares 676,142$10.9M6.62%-303,539Timeline
REGNREGENERON PHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 18,594 shares; 2025Q3: 18,218 shares 18,218$10.2M6.25%-376Timeline
ASIXADVANSIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 449,006 shares; 2025Q3: 521,141 shares 521,141$10.1M6.16%+72,135Timeline
ZIMVIE INCZIMVIE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 389,756 shares; 2025Q1: 340,536 shares; 2025Q2: 686,634 shares; 2025Q3: 530,013 shares 530,013$10M6.13%-156,621
AAPADVANCE AUTO PARTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 215,484 shares; 2024Q4: 235,484 shares; 2025Q1: 283,395 shares; 2025Q2: 214,061 shares; 2025Q3: 146,617 shares 146,617$9M5.49%-67,444Timeline
ACOGALPHA COGNITION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,393,328 shares; 2025Q1: 1,393,328 shares; 2025Q2: 1,276,012 shares; 2025Q3: 1,282,192 shares 1,282,192$8.35M5.09%+6,180Timeline
SNWVSANUWAVE HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 584,048 shares; 2025Q2: 296,691 shares; 2025Q3: 201,304 shares 201,304$7.54M4.61%-95,387Timeline
ODPTHE ODP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 141,145 shares; 2025Q3: 264,097 shares 264,097$7.36M4.49%+122,952Timeline
SEGSEAPORT ENTMT GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 232,238 shares 232,238$5.32M3.25%newTimeline
GTGOODYEAR TIRE & RUBR COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 705,784 shares; 2025Q3: 691,569 shares 691,569$5.17M3.16%-14,215Timeline
MERCMERCER INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,077,000 shares; 2025Q1: 1,025,157 shares; 2025Q2: 1,675,142 shares; 2025Q3: 1,650,032 shares 1,650,032$4.75M2.9%-25,110Timeline
ASTLALGOMA STL GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 990,646 shares; 2024Q4: 1,060,646 shares; 2025Q1: 1,460,646 shares; 2025Q2: 1,431,936 shares; 2025Q3: 1,091,248 shares 1,091,248$3.88M2.37%-340,688Timeline
VTOLBRISTOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 250,194 shares; 2025Q3: 81,443 shares 81,443$2.94M1.79%-168,751Timeline
MODDMODULAR MED INC COM NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,881,095 shares; 2024Q4: 2,481,095 shares; 2025Q1: 3,243,475 shares; 2025Q2: 3,179,590 shares; 2025Q3: 3,778,480 shares 3,778,480$2.64M1.61%+598,890Timeline
LEELEE ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 482,212 shares; 2024Q4: 482,212 shares; 2025Q1: 482,212 shares; 2025Q2: 472,748 shares; 2025Q3: 472,748 shares 472,748$2.57M1.57%0Timeline
SPWHSPORTSMANS WHSE HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,456,963 shares; 2024Q4: 1,107,137 shares; 2025Q1: 1,852,091 shares; 2025Q2: 631,296 shares; 2025Q3: 191,116 shares 191,116$529K0.32%-440,180Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
WALGREENS BOOTS ALLIANCE INCWALGREENS BOOTS ALLIANCE INC771,300$8.85Mshares
CTRNCITI TRENDS INC4,875$163Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001604867-25-000022 base2025-11-14acceptance time not in the bulk data set