Euroholdings 13D/A: Friends Investment Cuts Stake, Still Above 5 %

Rhea-AI Filing Summary

Key Take-away: Amendment No. 1 to Schedule 13D indicates that Friends Investment Company Inc. (Marshall Islands) has reduced its equity stake in Euroholdings Ltd. (EHLD).

• Current ownership: 151,582 common shares, representing 5.38 % of the 2,816,615 shares outstanding.
• Recent transaction: On 23 Jun 2025, Friends Investment Company sold 64,626 shares to Marla Investments Inc. under a Share Purchase Agreement executed with a consortium of sellers.
• Voting & dispositive power: The reporting person retains sole voting and dispositive power over the remaining 151,582 shares; no shared power is reported.
• Funding source: Working capital ("WC") was cited for the original acquisition of the securities.
• No additional arrangements: The filer states there are no other contracts, pledges or understandings regarding EHLD securities beyond those described.

This filing is largely administrative but signals a partial exit by a >5 % holder, trimming its position by roughly 30 % (64,626 / 216,208 previous shares) while remaining above the Schedule 13D threshold.

Positive

• Filer remains above 5 % ownership, indicating continued vested interest in Euroholdings Ltd.
• No new adverse contracts or litigation disclosed, limiting additional risk signals.

Negative

• Sale of 64,626 shares represents roughly 30 % reduction in the reporting person’s prior stake.
• The transaction may be interpreted as insider selling pressure, a potentially negative sentiment indicator.

Insights

Securities Analyst

TL;DR: Large shareholder sold ~30 % of stake, still holds 5.38 %; modestly negative signal, limited immediate impact.

The amendment shows Friends Investment Company cut its position to 151,582 shares, barely above the 5 % disclosure threshold. Although no strategic commentary is provided, such sales by significant holders can imply profit-taking or rebalancing. The ownership concentration remains meaningful but offers slightly reduced support for the float. Because the filer retains sole voting power and no new governance initiatives are disclosed, the change is unlikely to alter near-term control dynamics. From a liquidity viewpoint, 64,626 shares—about 2.3 % of the total outstanding—have transitioned to a new investor, adding float dispersion. Without price, valuation or forward-looking statements, the filing’s market impact should be modest, leaning negative due to insider selling.

Corporate Governance Specialist

TL;DR: Governance unchanged; sale lowers individual influence but keeps filer in 5 %+ bracket—overall neutral.

The document confirms compliance with Section 13(d) after a share sale. Friends Investment Company still exceeds the 5 % threshold, so its disclosure obligations and potential influence in shareholder actions remain. No group formation, voting agreements or board change intentions are reported, and the filer expressly disclaims additional arrangements. Therefore, governance structure is status quo. The filing is a routine update rather than a catalyst, and I do not see material corporate-control implications.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

Euroholdings Ltd

(Name of Issuer)

Common Shares, $0.01 par value

(Title of Class of Securities)

Y234DY109

(CUSIP Number)

Stephania Karmiri
4 Messogiou & Evropis Street,
Maroussi, J3, 151 24
30-211-180-4005

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/23/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. Y234DY109

1

Name of reporting person

Friends Investment Company Inc.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

MARSHALL ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 151,582.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 151,582.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

151,582.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.38 %

14

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, $0.01 par value
(b)	Name of Issuer: Euroholdings Ltd
(c)	Address of Issuer's Principal Executive Offices: 4 Messogiou & Evropis Street, Maroussi, GREECE , 151 24.
Item 1 Comment: This Amendment No. 1 (the "Amendment No. 1") to the Schedule 13D amends the statement on Schedule 13D that was filed with the U.S. Securities and Exchange Commission (the "Original Schedule 13D"), by Friends Investment Company Inc. (the "Reporting Person") of Euroholdings Ltd (the "Issuer"). Except as supplemented and amended herein, Amendment No. 1 is unchanged. Reference should be made to the Original Schedule 13D for additional information.
Item 4.	Purpose of Transaction
	On June 23, 2025 (the "Closing Date") pursuant to the terms of that certain Share Purchase Agreement (the "Share Purchase Agreement" or "SPA"), by and among Containers Shareholders Trinity Ltd., Friends Investment Company Inc., Eurobulk Marine Holdings Inc. and Family United Navigation Co. (each, a "Seller" and collectively, the "Sellers") and Marla Investments Inc. (the "Purchaser"), the Reporting Person sold to the Purchaser 64,626 Common Shares of the Issuer (the "Closing").
Item 5.	Interest in Securities of the Issuer
(a)	As of the date hereof, Friends Investment Company may be deemed to be the beneficial owner of 151,582 Common Shares, constituting 5.38% of the Common Shares, based upon 2,816,615 Common Shares outstanding.
(b)	Friends Investment Company has the sole power to vote or direct the vote of 151,582 Common Shares and the shared power to vote or direct the vote of 0 Common Shares. Friends Investment Company has the sole power to dispose or direct the disposition of 151,582 Common Shares and the shared power to dispose or direct the disposition of 0 Common Shares. None of the other persons named in response to Item 2 have the sole power to vote or to direct the vote, the shared power to vote or direct the vote, the sole power to dispose or to direct the disposition of the Common Shares that are the subject of this Schedule 13D/A.
(c)	Except as otherwise disclosed herein, no transactions in the Common Shares were effected by the Reporting Person during the past 60 days.
(d)	No other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, any of the Common Shares beneficially owned by the Reporting Person.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Other than as set forth above, the Reporting Person does not have any contract, arrangement, understanding or relationship with any person with respect to securities of the Issuer.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Friends Investment Company Inc.

Signature:	/s/ Aristides J. Pittas
Name/Title:	Aristides J. Pittas
Date:	06/27/2025

FAQ

How many Euroholdings Ltd. (EHLD) shares does Friends Investment Company currently own?

Friends Investment Company beneficially owns 151,582 common shares, or 5.38 % of the outstanding shares.

What transaction triggered this Schedule 13D/A amendment for EHLD?

On 23 Jun 2025, Friends Investment Company sold 64,626 shares to Marla Investments Inc. under a Share Purchase Agreement.

Does Friends Investment Company share voting or dispositive power over EHLD shares?

No. The filer retains sole voting and sole dispositive power over all 151,582 shares; shared power is 0.

Did the filing disclose any new contracts or agreements affecting EHLD control?

No. The filer stated there are no additional contracts, arrangements, or understandings regarding EHLD securities beyond the described sale.

What percentage of Euroholdings Ltd.’s shares were sold in the recent transaction?

The 64,626 shares sold equal about 2.3 % of the 2,816,615 shares outstanding and roughly 30 % of the filer’s prior holdings.