Knollwood discloses 6.3% Elutia Inc (NASDAQ: ELUT) stake

Rhea-AI Filing Summary

Knollwood Investment Advisory, LLC has filed a Schedule 13G reporting beneficial ownership of 2,556,724 shares of Elutia Inc. Class A Common Stock, representing 6.3% of the class as of 12/31/2025.

Knollwood reports sole voting and sole dispositive power over all 2,556,724 shares, with no shared voting or dispositive power. The firm states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Elutia Inc.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

ELUTIA INC.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

05479K106

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 05479K106

1

Names of Reporting Persons

Knollwood Investment Advisory, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,556,724.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,556,724.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,556,724.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.3 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: ELUTIA INC.
(b)	Address of issuer's principal executive offices: 12510 PROSPERITY DRIVE, SUITE 370, SILVER SPRING, MARYLAND 20904
Item 2.
(a)	Name of person filing: Knollwood Investment Advisory, LLC
(b)	Address or principal business office or, if none, residence: 217 INTERNATIONAL CIRCLE HUNT VALLEY, Maryland 21030
(c)	Citizenship: Knollwood Investment Advisory, LLC is a Delaware Corporation
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP No.: 05479K106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,556,724 shares are beneficially owned.
(b)	Percent of class: 6.3 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Knollwood Investment Advisory, LLC - 2,556,724
	(ii) Shared power to vote or to direct the vote: Knollwood Investment Advisory, LLC - 0
	(iii) Sole power to dispose or to direct the disposition of: Knollwood Investment Advisory, LLC - 2,556,724
	(iv) Shared power to dispose or to direct the disposition of: Knollwood Investment Advisory, LLC - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

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.

Knollwood Investment Advisory, LLC

Signature:	Stacy Landsman
Name/Title:	Stacy Landsman / Chief Compliance Officer
Date:	02/10/2026

FAQ

What percentage of Elutia Inc. (ELUT) does Knollwood Investment Advisory own?

Knollwood Investment Advisory, LLC reports beneficial ownership of 6.3% of Elutia Inc. Class A Common Stock. This stake reflects 2,556,724 shares and is disclosed in a Schedule 13G filing as of December 31, 2025.

How many Elutia Inc. (ELUT) shares does Knollwood Investment Advisory hold?

Knollwood Investment Advisory, LLC beneficially owns 2,556,724 shares of Elutia Inc. Class A Common Stock. The filing states Knollwood has sole voting and sole dispositive power over all these shares as of December 31, 2025.

Does Knollwood Investment Advisory seek control of Elutia Inc. (ELUT)?

Knollwood states the Elutia Inc. shares were acquired and are held in the ordinary course of business. The filing specifies they were not acquired or held to change or influence the control of Elutia, nor in connection with any such control-related transaction.

What type of SEC filing did Knollwood submit for Elutia Inc. (ELUT)?

Knollwood Investment Advisory, LLC submitted a Schedule 13G regarding Elutia Inc. Class A Common Stock. Schedule 13G is a beneficial ownership report typically used for passive investors holding more than five percent of a company’s registered equity securities.

Who signed the Schedule 13G related to Elutia Inc. (ELUT)?

The Schedule 13G for Elutia Inc. was signed by Stacy Landsman, Chief Compliance Officer of Knollwood Investment Advisory, LLC. The signature section certifies that the information in the statement is true, complete, and correct to the best of their knowledge.

What voting and dispositive powers does Knollwood have over Elutia Inc. (ELUT) shares?

Knollwood Investment Advisory, LLC reports sole voting power over 2,556,724 shares and sole dispositive power over the same 2,556,724 shares. The Schedule 13G indicates no shared voting or shared dispositive power over any Elutia Inc. shares.