Solas Capital Management, LLC
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Solas Capital Management, LLC reported 19 stock positions worth $155.5 million. Its top holding was Epsilon Energy (EPSN) at 13.3% of the portfolio, followed by Sonida Senior Living (SNDA, 9.9%) and Walgreens Boots Alliance (WBA, 8.5%). Compared with Q4 2023, it opened 3 new positions, sold out of 7, added to 9 and reduced 6. The biggest buy was a new position in Walgreens Boots Alliance (WBA) and the biggest sale an exit from Flex (FLEX).
- Most Recent 13F
- Q2 2026
- Location
- DARIEN, CT
- CIK
- 0001604867
- Portfolio Value
- $155.5M (Q1 2024)
- SEC Filing
- 0001604867-24-000008 ↗ filed May 15, 2024
Holdings Value
Holdings 19 stocks · $155.5M
| EPSN Epsilon Energy Ltd. | 13.32% | 3,768,467 | $20.7M | No change |
| SNDA Sonida Senior Living Inc. | 9.93% | 561,034 | $15.4M | Add +53.0% |
| WBA Walgreens Boots Alliance Inc. | 8.50% | 609,373 | $13.2M | New |
| ASTL Algoma Steel Group Inc. | 7.98% | 1,462,213 | $12.4M | Add +23.9% |
| FENC Fennec Pharmaceuticals Inc. | 7.94% | 1,110,233 | $12.3M | Reduce -19.5% |
| LILAK Liberty Latin Americ Class C | 6.93% | 1,541,436 | $10.8M | Add +9.0% |
| KD Kyndryl Holdings Inc. | 5.98% | 427,405 | $9.3M | Add +14.8% |
| AAN The Aaron's Co. Inc. filed as THE AARONS COMPANY INC | 5.92% | 1,226,982 | $9.2M | Add +48.1% |
| AMBP Ardagh Metal Packaging SA | 5.35% | 2,427,384 | $8.3M | Add +0.4% |
| VSTO Vista Outdoor Inc. | 4.61% | 218,596 | $7.2M | New |
| ZIMV Zimvie Inc. | 4.55% | 429,010 | $7.1M | Reduce -30.5% |
| LEE Lee Enterprises | 3.80% | 443,446 | $5.9M | Add +7.1% |
| AAP Advance Auto Parts Inc. | 3.63% | 66,258 | $5.6M | Reduce -44.1% |
| SPWH Sportsman's Warehouse Holdin | 2.93% | 1,463,009 | $4.5M | Add +11.8% |
| MURA Mural Oncology PLC | 2.36% | 748,961 | $3.7M | New |
| MODULAR MED INC | 2.25% | 1,888,901 | $3.5M | Add +86.1% |
| GIFI Gulf Island Fabrication Inc. | 2.15% | 455,621 | $3.3M | Reduce -47.7% |
| ONL Orion Properties Inc. filed as ORION OFFICE REIT INC | 1.84% | 815,312 | $2.9M | Reduce -2.3% |
| CVEO Civeo Corp. | 0.04% | 2,176 | $58K | Reduce -99.0% |
Portfolio Sells Q4 2023 → Q1 2024
| FLEX Flex Ltd. | Sold out | 0.00% | −6.34 |
| KLG WK Kellogg Co. | Sold out | 0.00% | −6.01 |
| SG Sweetgreen Inc. Class A | Sold out | 0.00% | −4.25 |
| FIP Ftai Infrastructure Inc. | Sold out | 0.00% | −3.14 |
| CVEO Civeo Corp. | Reduce -99.0% | 0.04% | −3.07 |
| ZIMV Zimvie Inc. | Reduce -30.5% | 4.55% | −2.25 |
| FENC Fennec Pharmaceuticals Inc. | Reduce -19.5% | 7.94% | −1.66 |
| ONL Orion Properties Inc. | Reduce -2.3% | 1.84% | −1.12 |
| AAP Advance Auto Parts Inc. | Reduce -44.1% | 3.63% | −0.87 |
| GIFI Gulf Island Fabrication Inc. | Reduce -47.7% | 2.15% | −0.19 |
| BALL Ball Corp. | Sold out | 0.00% | −0.15 |
| BDN Brandywine Realty Trust | Sold out | 0.00% | −0.09 |
| TDAY USA Today Co. Inc. | Sold out | 0.00% | −0.04 |
Portfolio Buys Q4 2023 → Q1 2024
| WBA Walgreens Boots Alliance Inc. | New | 8.50% | +8.50 |
| SNDA Sonida Senior Living Inc. | Add +53.0% | 9.93% | +7.74 |
| VSTO Vista Outdoor Inc. | New | 4.61% | +4.61 |
| MURA Mural Oncology PLC | New | 2.36% | +2.36 |
| LEE Lee Enterprises | Add +7.1% | 3.80% | +1.78 |
| KD Kyndryl Holdings Inc. | Add +14.8% | 5.98% | +1.18 |
| MODULAR MED INC | Add +86.1% | 2.25% | +1.10 |
| ASTL Algoma Steel Group Inc. | Add +23.9% | 7.98% | +0.63 |
| LILAK Liberty Latin Americ Class C | Add +9.0% | 6.93% | +0.48 |
| AAN The Aaron's Co. Inc. | Add +48.1% | 5.92% | +0.32 |
| AMBP Ardagh Metal Packaging SA | Add +0.4% | 5.35% | −0.41 |
| SPWH Sportsman's Warehouse Holdin | Add +11.8% | 2.93% | −0.54 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 21 | $186.6M | FENC, EPSN, ACOG, SNDA, LEE |
| Q1 2026 | 22 | $173.9M | EPSN, FENC, SNDA, LEE, ASIX |
| Q4 2025 | 22 | $176.2M | FENC, EPSN, SNDA, ACOG, MOH |
| Q3 2025 | 20 | $163.8M | FENC, EPSN, SNDA, MOH, GO |
| Q2 2025 | 20 | $178.7M | EPSN, FENC, GO, ACOG, SNDA |
| Q1 2025 | 21 | $177.7M | EPSN, SNWV, GO, FENC, SNDA |
| Q4 2024 | 19 | $150.6M | EPSN, FENC, PARR, SNDA, AAP |
| Q3 2024 | 18 | $142.5M | EPSN, KD, SNDA, WBA, AMBP |
| Q2 2024 | 20 | $182.9M | EPSN, KD, WBA, SNDA, AAN |
| Q1 2024 | 19 | $155.5M | EPSN, SNDA, WBA, ASTL, FENC |