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Livermore
Livermore
ZHEN

Solas Capital Management, LLC

SEC CIK
0001604867
Latest filing
Aug 14, 2026

The latest 13F from Solas Capital Management, LLC covers Q2 2026 (filed Aug 14, 2026): 21 long positions worth $186.6M. The top 10 holdings make up 72.7% of the portfolio, and the largest is Fennec Pharmaceuticals Inc. (FENC) at 10.9%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
2
Est. +$6.58M
Added
6
Est. +$11.1M
Reduced
7
Est. −$23.1M
Sold out
3
Est. −$9.40M

Top 5 holdings

Share of this quarter's portfolio value

  1. FENCFennec Pharmaceuticals Inc.
    10.9%$20.3MHistory
  2. EPSNEpsilon Energy Ltd.
    10.1%$18.8MHistory
  3. ACOGAlpha Cognition Inc.
    7.4%$13.9MHistory
  4. SNDASonida Senior Living, Inc.
    7.4%$13.8MHistory
  5. LEELee Enterprises, Inc
    7.4%$13.7MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. NVRIEnviri Corp
    +$4.02MNewHistory
  2. EEFTEuronet Worldwide, Inc.
    +$3.88MAddedHistory
  3. SNWVSANUWAVE Health, Inc.
    +$3.23MAddedHistory
  4. LUXELuxExperience B.V.
    +$2.56MNewHistory
  5. NSPInsperity, Inc.
    +$1.24MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. NSPInsperity, Inc.
    +2.32 pp3.9% → 6.2%History
  2. NVRIEnviri Corp
    +2.16 pp0.0% → 2.2%History
  3. EEFTEuronet Worldwide, Inc.
    +2.15 pp2.7% → 4.9%History
  4. LUXELuxExperience B.V.
    +1.37 pp0.0% → 1.4%History
  5. SNWVSANUWAVE Health, Inc.
    +0.42 pp2.9% → 3.3%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. MOHMolina Healthcare, Inc.
    −$6.52MReducedHistory
  2. FENCFennec Pharmaceuticals Inc.
    −$6.37MReducedHistory
  3. SNDASonida Senior Living, Inc.
    −$4.41MReducedHistory
  4. ASTLAlgoma Steel Group Inc.
    −$4.33MSold outHistory
  5. NVRIEnviri Corp
    −$3.95MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. ASTLAlgoma Steel Group Inc.
    −2.49 pp2.5% → 0.0%History
  2. NVRIEnviri Corp
    −2.27 pp2.3% → 0.0%History
  3. MAIAMAIA Biotechnology, Inc.
    −1.12 pp3.5% → 2.3%History
  4. SNDASonida Senior Living, Inc.
    −0.89 pp8.3% → 7.4%History
  5. LEELee Enterprises, Inc
    −0.66 pp8.0% → 7.4%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$186.6M
+$12.7M (+7.3%) vs. prior quarter
Positions
21
−1 vs. prior quarter
Top 10 concentration
72.7%
Top 10 as share of value
Turnover
9.8%
Q2 2026, one quarter
Average holding period
10.8 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $187.3M (Q1 2023)

Q1 2021: $118.9MQ2 2021: $142.5MQ3 2021: $143.7MQ4 2021: $140.3MQ1 2022: $165.1MQ2 2022: $167.6MQ3 2022: $164.0MQ4 2022: $166.7MQ1 2023: $187.3MQ2 2023: $150.3MQ3 2023: $142.9MQ4 2023: $161.1MQ1 2024: $155.5MQ2 2024: $182.9MQ3 2024: $142.5MQ4 2024: $150.6MQ1 2025: $177.7MQ2 2025: $178.7MQ3 2025: $163.8MQ4 2025: $176.2MQ1 2026: $173.9MQ2 2026: $186.6M
Q1 2021Q2 2026
13F filings of Solas Capital Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202621$186.6MFENCEPSNACOGvs. Q1 2026SEC
Q1 2026May 15, 202622$173.9MEPSNFENCSNDAvs. Q4 2025SEC
Q4 2025Feb 17, 202622$176.2MFENCEPSNSNDAvs. Q3 2025SEC
Q3 2025Nov 14, 202520$163.8MFENCEPSNSNDAvs. Q2 2025SEC
Q2 2025Aug 14, 202520$178.7MEPSNFENCGOvs. Q1 2025SEC
Q1 2025May 15, 202521$177.7MEPSNSNWVGOvs. Q4 2024SEC
Q4 2024Feb 14, 202519$150.6MEPSNFENCPARRvs. Q3 2024SEC
Q3 2024Nov 14, 202418$142.5MEPSNKDSNDAvs. Q2 2024SEC
Q2 2024Aug 14, 202420$182.9MEPSNKDWBAvs. Q1 2024SEC
Q1 2024May 15, 202419$155.5MEPSNSNDAWBAvs. Q4 2023SEC
Q4 2023Feb 14, 202423$161.1MEPSNFENCASTLvs. Q3 2023SEC
Q3 2023Nov 14, 202319$142.9MEPSNKDFENCvs. Q2 2023SEC
Q2 2023Aug 14, 202321$150.3MEPSNFENCAMBPvs. Q1 2023SEC
Q1 2023May 15, 202326$187.3MEPSNAMBPZIMVvs. Q4 2022SEC
Q4 2022Feb 14, 202326$166.7MEPSNLILAKAMBPvs. Q3 2022SEC
Q3 2022Nov 14, 202222$164.0MEPSNLILAKPARRvs. Q2 2022SEC
Q2 2022Aug 15, 202221$167.6MEPSNFLEXGarrett Motion Inc.vs. Q1 2022SEC
Q1 2022May 16, 202223$165.1MEPSNGarrett Motion Inc.PARRvs. Q4 2021SEC
Q4 2021Feb 14, 202224$140.3MEPSNPARRODPvs. Q3 2021SEC
Q3 2021Nov 15, 202125$143.7MEPSNSWK Holdings CorpBXCvs. Q2 2021SEC
Q2 2021Aug 16, 202124$142.5MEPSNBXCSWK Holdings Corpvs. Q1 2021SEC
Q1 2021May 17, 202123$118.9MEPSNGLNGBXC–SEC

13D and 13G filings

Companies where Solas Capital Management, LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

7 companies, largest stake first.

Companies where Solas Capital Management, LLC owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
STLYHG Holdings, Inc.13G14.40%762.7K sharesNewApr 28, 20251 filingApr 28, 2025SEC
EPSNEpsilon Energy Ltd.13G/A11.90%3.55M shares–Feb 14, 20224 filingsFeb 17, 2026SEC
MODDModular Medical, Inc.13G/A9.90%552.2K shares+0.30 ppfrom 9.60%Nov 14, 20246 filingsAug 14, 2026SEC
ACOGAlpha Cognition Inc.13G8.70%1.39M sharesNewFeb 14, 20251 filingFeb 14, 2025SEC
LEELee Enterprises, Inc13G/A7.80%482.2K shares–Feb 14, 20242 filingsNov 14, 2024SEC
SNWVSANUWAVE Health, Inc.13G/A7.10%611.0K shares+3.60 ppfrom 3.50%Nov 14, 20245 filingsAug 14, 2026SEC
FENCFennec Pharmaceuticals Inc.13G/A5.40%1.89M shares−1.80 ppfrom 7.20%Feb 14, 20245 filingsAug 14, 2026SEC

Latest filings

39 filings on file made by Solas Capital Management, LLC or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Solas Capital Management, LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
SNWVSANUWAVE Health, Inc.Aug 14, 202611:00 AM ET13G/A7.10%611.0K shares+3.60 ppfrom 3.50%Jun 30, 2026SEC
MODDModular Medical, Inc.Aug 14, 202610:53 AM ET13G/A9.90%552.2K shares+0.30 ppfrom 9.60%Jun 30, 2026SEC
MAIAMAIA Biotechnology, Inc.Aug 14, 202610:47 AM ET13G/A4.90%3.03M shares−2.20 ppfrom 7.10%Below 5%Jun 30, 2026SEC
FENCFennec Pharmaceuticals Inc.Aug 14, 202610:38 AM ET13G/A5.40%1.89M shares−1.80 ppfrom 7.20%Jun 30, 2026SEC
MODDModular Medical, Inc.May 15, 202611:12 AM ET13G/A9.60%464.9K shares+2.80 ppfrom 6.80%Mar 31, 2026SEC
MAIAMAIA Biotechnology, Inc.May 15, 202611:06 AM ET13G7.10%4.30M sharesNewMar 31, 2026SEC
FENCFennec Pharmaceuticals Inc.May 15, 202610:58 AM ET13G/A7.20%2.48M shares−1.00 ppfrom 8.20%Mar 31, 2026SEC
MODDModular Medical, Inc.Feb 17, 202611:10 AM ET13G/A6.80%5.33M shares−0.90 ppfrom 7.70%Dec 31, 2025SEC
EPSNEpsilon Energy Ltd.Feb 17, 202611:00 AM ET13G/A11.90%3.55M shares–Dec 31, 2025SEC
MODDModular Medical, Inc.Nov 14, 202511:46 AM ET13G/A7.70%4.29M shares+0.20 ppfrom 7.50%Sep 30, 2025SEC
SNWVSANUWAVE Health, Inc.Aug 14, 20253:57 PM ET13G/A3.50%296.7K shares−3.30 ppfrom 6.80%Below 5%Jun 30, 2025SEC
MURAMural Oncology plcAug 14, 20253:34 PM ET13G/A0.00%0 shares−5.20 ppfrom 5.20%Below 5%Jun 30, 2025SEC
SNWVSANUWAVE Health, Inc.May 15, 202511:23 AM ET13G/A6.80%584.0K shares−1.60 ppfrom 8.40%Mar 31, 2025SEC
MURAMural Oncology plcMay 15, 202511:17 AM ET13G/A5.20%888.0K shares−2.20 ppfrom 7.40%Mar 31, 2025SEC
MODDModular Medical, Inc.May 15, 202511:12 AM ET13G/A7.50%4.09M shares+0.40 ppfrom 7.10%Mar 31, 2025SEC
STLYHG Holdings, Inc.Apr 28, 20254:10 PM ET13G14.40%762.7K sharesNewApr 21, 2025SEC
SNWVSANUWAVE Health, Inc.Feb 14, 20251:07 PM ET13G/A8.40%713.8K shares−1.50 ppfrom 9.90%Dec 31, 2024SEC
FENCFennec Pharmaceuticals Inc.Feb 14, 20251:00 PM ET13G/A8.20%2.25M shares+1.20 ppfrom 7.00%Dec 31, 2024SEC
ACOGAlpha Cognition Inc.Feb 14, 202512:54 PM ET13G8.70%1.39M sharesNewDec 31, 2024SEC
SNWVSANUWAVE Health, Inc.Nov 14, 20243:29 PM ET13G9.90%121.1M sharesNewSep 30, 2024SEC