Solas Capital Management, LLC Diversified Active

CIK: 0001604867 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $176,241 (100.0% shares, 0.0% debt)

Holdings (22)

New Positions (6)

KD KYNDRYL HLDGS INC 6.1%

Value ($000) $10,827 Shares 407,634 Est. Cost $27.11 Unrealized 0.0%

PRMB PRIMO BRANDS CORPORATION 4.3%

Value ($000) $7,531 Shares 460,619 Est. Cost $18.48 Unrealized 0.0%

NSP INSPERITY INC 4.0%

Value ($000) $7,052 Shares 182,132 Est. Cost $39.43 Unrealized 0.0%

EEFT EURONET WORLDWIDE INC 3.2%

Value ($000) $5,594 Shares 73,494 Est. Cost $77.96 Unrealized 0.0%

GPRE GREEN PLAINS INC 3.1%

Value ($000) $5,522 Shares 563,453 Est. Cost $10.07 Unrealized 0.0%

TEX TEREX CORP NEW 2.2%

Value ($000) $3,825 Shares 71,663 Est. Cost $50.50 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KD	KYNDRYL HLDGS INC	407,634	$10,827	6.1%	$27.11	0.0%	COMMON STOCK	50155Q100
PRMB	PRIMO BRANDS CORPORATION	460,619	$7,531	4.3%	$18.48	0.0%	CLASS A COM SHS	741623102
NSP	INSPERITY INC	182,132	$7,052	4.0%	$39.43	0.0%	COM	45778Q107
EEFT	EURONET WORLDWIDE INC	73,494	$5,594	3.2%	$77.96	0.0%	COM	298736109
GPRE	GREEN PLAINS INC	563,453	$5,522	3.1%	$10.07	0.0%	COM	393222104
TEX	TEREX CORP NEW	71,663	$3,825	2.2%	$50.50	0.0%	COM	880779103

Increased Positions (8)

ACOG ALPHA COGNITION INC 7.3%

Value ($000) $12,792 (+53.3%) Shares 1,968,052 (+53.5%) Est. Cost $5.86 Unrealized +7.9%

AAP ADVANCE AUTO PARTS INC 4.3%

Value ($000) $7,572 (-15.9%) Shares 192,663 (+31.4%) Est. Cost $53.85 Unrealized -7.5%

SNWV SANUWAVE HEALTH INC 5.0%

Value ($000) $8,759 (+16.1%) Shares 293,529 (+45.8%) Est. Cost $29.61 Unrealized +8.3%

MODD MODULAR MED INC 0.9%

Value ($000) $1,611 (-39.1%) Shares 4,424,059 (+17.1%) Est. Cost $1.52 Unrealized -67.7%

MOH MOLINA HEALTHCARE INC 6.7%

Value ($000) $11,855 (+9.2%) Shares 68,314 (+20.4%) Est. Cost $180.72 Unrealized -9.0%

FENC FENNEC PHARMACEUTICALS INC 11.2%

Value ($000) $19,718 (-3.7%) Shares 2,560,726 (+17.0%) Est. Cost $6.34 Unrealized +29.6%

ASIX ADVANSIX INC 6.0%

Value ($000) $10,647 (+5.4%) Shares 615,445 (+18.1%) Est. Cost $21.24 Unrealized -18.3%

GO GROCERY OUTLET HLDG CORP 6.4%

Value ($000) $11,353 (+4.6%) Shares 1,124,055 (+66.2%) Est. Cost $13.91 Unrealized -9.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ACOG	ALPHA COGNITION INC	1,968,052 (+53.5%)	$12,792 (+53.3%)	7.3%	$5.86	+7.9%	COM NEW	02074J501
AAP	ADVANCE AUTO PARTS INC	192,663 (+31.4%)	$7,572 (-15.9%)	4.3%	$53.85	-7.5%	COM	00751Y106
SNWV	SANUWAVE HEALTH INC	293,529 (+45.8%)	$8,759 (+16.1%)	5.0%	$29.61	+8.3%	COM	80303D305
MODD	MODULAR MED INC	4,424,059 (+17.1%)	$1,611 (-39.1%)	0.9%	$1.52	-67.7%	COM NEW	60785L207
MOH	MOLINA HEALTHCARE INC	68,314 (+20.4%)	$11,855 (+9.2%)	6.7%	$180.72	-9.0%	COM	60855R100
FENC	FENNEC PHARMACEUTICALS INC	2,560,726 (+17.0%)	$19,718 (-3.7%)	11.2%	$6.34	+29.6%	COM	31447P100
ASIX	ADVANSIX INC	615,445 (+18.1%)	$10,647 (+5.4%)	6.0%	$21.24	-18.3%	COM	00773T101
GO	GROCERY OUTLET HLDG CORP	1,124,055 (+66.2%)	$11,353 (+4.6%)	6.4%	$13.91	-9.5%	COM	39874R101

Exited Positions (4)

REGN REGENERON PHARMACEUTICALS 5.8%

Value ($000) $10,243 Shares 18,218 Est. Cost $556.12 Unrealized +22.0%

— ZIMVIE INC 5.7%

Value ($000) $10,038 Shares 530,013 Est. Cost $12.62 Unrealized —

— THE ODP CORP 4.2%

Value ($000) $7,355 Shares 264,097 Est. Cost $22.66 Unrealized —

VTOL BRISTOW GROUP INC 1.7%

Value ($000) $2,938 Shares 81,443 Est. Cost $30.16 Unrealized +24.8%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
REGN	REGENERON PHARMACEUTICALS	18,218	$10,243	5.8%	$556.12	+22.0%	—	75886F107
—	ZIMVIE INC	530,013	$10,038	5.7%	$12.62	—	—	98888T107
—	THE ODP CORP	264,097	$7,355	4.2%	$22.66	—	—	88337F105
VTOL	BRISTOW GROUP INC	81,443	$2,938	1.7%	$30.16	+24.8%	—	11040G103

Decreased Positions (7)

SNDA SONIDA SENIOR LIVING INC 8.4%

Value ($000) $14,855 (+14.6%) Shares 455,537 (-2.6%) Est. Cost $21.46 Unrealized +38.2%

EPSN EPSILON ENERGY LTD 9.3%

Value ($000) $16,450 (-9.8%) Shares 3,545,186 (-2.1%) Est. Cost $3.04 Unrealized +56.8%

MERC MERCER INTL INC 1.8%

Value ($000) $3,182 (-33.0%) Shares 1,607,315 (-2.6%) Est. Cost $5.41 Unrealized -61.1%

SEG SEAPORT ENTMT GROUP INC 2.6%

Value ($000) $4,499 (-15.5%) Shares 227,578 (-2.0%) Est. Cost $23.50 Unrealized -4.6%

GT GOODYEAR TIRE & RUBR CO 3.4%

Value ($000) $5,930 (+14.6%) Shares 676,976 (-2.1%) Est. Cost $10.59 Unrealized -25.6%

ASTL ALGOMA STL GROUP INC 2.5%

Value ($000) $4,384 (+13.0%) Shares 1,069,351 (-2.0%) Est. Cost $8.15 Unrealized -51.1%

SPWH SPORTSMANS WHSE HLDGS INC 0.0%

Value ($000) $65 (-87.8%) Shares 44,387 (-76.8%) Est. Cost $4.89 Unrealized -55.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SNDA	SONIDA SENIOR LIVING INC	455,537 (-2.6%)	$14,855 (+14.6%)	8.4%	$21.46	+38.2%	COM	140475203
EPSN	EPSILON ENERGY LTD	3,545,186 (-2.1%)	$16,450 (-9.8%)	9.3%	$3.04	+56.8%	COM	294375209
MERC	MERCER INTL INC	1,607,315 (-2.6%)	$3,182 (-33.0%)	1.8%	$5.41	-61.1%	COM	588056101
SEG	SEAPORT ENTMT GROUP INC	227,578 (-2.0%)	$4,499 (-15.5%)	2.6%	$23.50	-4.6%	COMMON STOCK	812215200
GT	GOODYEAR TIRE & RUBR CO	676,976 (-2.1%)	$5,930 (+14.6%)	3.4%	$10.59	-25.6%	COM	382550101
ASTL	ALGOMA STL GROUP INC	1,069,351 (-2.0%)	$4,384 (+13.0%)	2.5%	$8.15	-51.1%	COM	015658107
SPWH	SPORTSMANS WHSE HLDGS INC	44,387 (-76.8%)	$65 (-87.8%)	0.0%	$4.89	-55.5%	COM	84920Y106

Unchanged Positions (1)

LEE LEE ENTERPRISES INC 1.3%

Value ($000) $2,217 Shares 472,748 Est. Cost $16.76 Unrealized -74.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
LEE	LEE ENTERPRISES INC	472,748	$2,217	1.3%	$16.76	-74.5%	COM	523768406