"When you look at what transpired, you can figure out who we would have had some interest in," Holland told the News. "At the end of the day we didn't get it done and it was for a whole host of reasons."
It's believed the Wings were not interested in trading away some of their top young talent in exchange for short-term fixes.
The Wings had pursued Jay Bouwmeester, but were not willing to trade Calgary a first-round draft pick. As a result, the Flames dealt Bouwmeester to the St. Louis Blues.
Future Hall of Fame right wing Jaromir Jagr was also a target of Holland's, but the Dallas Stars ended up shipping him to the Boston Bruins.
"We don't need depth players," Holland said. "From a depth standpoint, we have players on our team. We're going to go with the kids."
The Red Wings have been decimated by injuries this season, but are expected to get forwards Todd Bertuzzi, Mikael Samuelsson and Darren Helm, and defenseman Kyle Quincey back in the next couple weeks.
Meanwhile, Wings forward Valtteri Filppula is scheduled to become an unrestricted free agent July 5, but he's expressed an interest in staying with the team.
"It's been a great place to be, a great team obviously," he told the News. "You want to be on that kind of team."
Filppula and the Wings are expected to continue contract negotiations, though it's unclear when talks will get serious. It's possible the two sides will push talks off until Detroit's season is over.