FitLife Brands (FTLF): Askeladden Capital, Samir Patel report 7.0% ownership stake

Rhea-AI Filing Summary

FitLife Brands, Inc. is the subject of an amended Schedule 13G filing by Askeladden Capital Management, LLC and Samir Patel, reporting passive ownership of the company’s common stock. Through separately managed client accounts, they report beneficial ownership of 661,374 shares, representing 7.0% of the common stock outstanding.

All 661,374 shares are reported with shared voting and shared dispositive power and no sole voting or dispositive power. The ownership percentage is based on 9,391,072 shares of common stock outstanding as of May 13, 2026, as described in FitLife Brands’ Form 10-Q. The filers state that their inclusion should not be construed as an admission of beneficial ownership or of being part of a group under Section 13(d) or 13(g).

Key Figures

Shares beneficially owned: 661,374 shares Ownership percentage: 7.0% Shares outstanding: 9,391,072 shares +2 more

5 metrics

Shares beneficially owned 661,374 shares Common stock of FitLife Brands, Inc. reported by Askeladden Capital and Samir Patel

Ownership percentage 7.0% Percentage of FitLife Brands, Inc. common stock class reported as beneficially owned

Shares outstanding 9,391,072 shares Common stock outstanding as of May 13, 2026, used to calculate ownership percentage

Shared voting power 661,374 shares Shares over which filers report shared power to vote or direct the vote

Shared dispositive power 661,374 shares Shares over which filers report shared power to dispose or direct disposition

Key Terms

beneficially own, Managed Accounts, shared voting power, dispositive power, +1 more

5 terms

beneficially own financial

"As the investment adviser to the Managed Accounts, Askeladden may be deemed to beneficially own the securities covered by this statement."

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

Managed Accounts financial

"The separately managed accounts on behalf of investment advisory clients ("Managed Accounts") of Askeladden are the record and direct beneficial owners"

Managed accounts are collections of investments owned by an individual or institution but run day-to-day by a professional who buys, sells and allocates assets according to an agreed plan. They matter to investors because they provide tailored oversight, active risk control and potential tax efficiency—like hiring a personal chef to manage your diet—while fees and the manager’s skill directly affect returns.

shared voting power financial

"6 | Shared Voting Power 661,374.00 7 | Sole Dispositive Power 0.00 8 | Shared Dispositive Power 661,374.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power financial

"7 | Sole Dispositive Power 0.00 8 | Shared Dispositive Power 661,374.00"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Section 13(d) or 13(g) regulatory

"for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities"

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FAQ

What ownership stake in FTLF does Askeladden Capital report on this Schedule 13G/A?

Askeladden Capital and Samir Patel report beneficial ownership of 661,374 shares of FitLife Brands, Inc. common stock, representing 7.0% of the class based on 9,391,072 shares outstanding as of May 13, 2026.

How much of FitLife Brands (FTLF) stock is outstanding for this 13G/A calculation?

The reported 7.0% ownership of FitLife Brands, Inc. is calculated using 9,391,072 shares of common stock outstanding as of May 13, 2026, as disclosed in the company’s Form 10-Q for the quarter ended March 31, 2026.

Do Askeladden Capital and Samir Patel have sole or shared voting power over FTLF shares?

They report 0 shares with sole voting power and 661,374 shares with shared voting power. They likewise report 0 shares with sole dispositive power and 661,374 shares with shared dispositive power over FitLife Brands, Inc. stock.

Who is the reporting person on the FitLife Brands (FTLF) Schedule 13G/A?

The filing is made jointly by Askeladden Capital Management, LLC, a Texas investment adviser, and Samir Patel, its Member. Client Managed Accounts are the record owners, and the filers may be deemed beneficial owners of the covered securities.

Do the FTLF Schedule 13G/A filers admit being part of a group under Section 13(d) or 13(g)?

No. The reporting persons state that nothing in the filing should be construed as an admission that they are beneficial owners of the securities or that they are members of any group with respect to FitLife Brands, Inc. under Section 13(d) or 13(g).

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

FITLIFE BRANDS, INC.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

33817P405

(CUSIP Number)

01/15/2025

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 33817P405

1

Names of Reporting Persons

ASKELADDEN CAPITAL MANAGEMENT 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

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 661,374.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 661,374.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

661,374.00

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)

7.0 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 33817P405

1

Names of Reporting Persons

Samir Patel

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 0.00
6	Shared Voting Power 661,374.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 661,374.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

661,374.00

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)

7.0 %

12

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FITLIFE BRANDS, INC.
(b)	Address of issuer's principal executive offices: 5214 S. 136TH STREET, OMAHA, NEBRASKA, 68137.
Item 2.
(a)	Name of person filing: This statement is being jointly filed by and on behalf of each of Askeladden Capital Management, LLC, a Texas limited liability company ('Askeladden') and Samir Patel. The separately managed accounts on behalf of investment advisory clients ("Managed Accounts") of Askeladden are the record and direct beneficial owners of the securities covered by this statement. As the investment adviser to the Managed Accounts, Askeladden may be deemed to beneficially own the securities covered by this statement. Mr. Patel is the Member of, and may be deemed to beneficially own securities owned by, Askeladden. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement. Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any group with respect to the issuer or any securities of the issuer.
(b)	Address or principal business office or, if none, residence: 5214 S. 136th Street, Omaha, Nebraska 68137, USA
(c)	Citizenship: See Item 4 on the cover page(s) hereto.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 33817P405
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: See Item 9 on the cover page(s) hereto.
(b)	Percent of class: The percentage calculated in Item 11 is based on 9,391,072 shares of Common Stock outstanding as of May 13, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 and as filed with the SEC on May 14, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Item 5 on the cover page(s) hereto.
	(ii) Shared power to vote or to direct the vote: See Item 6 on the cover page(s) hereto.
	(iii) Sole power to dispose or to direct the disposition of: See Item 7 on the cover page(s) hereto.
	(iv) Shared power to dispose or to direct the disposition of: See Item 8 on the cover page(s) hereto.
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:
	Not Applicable

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.

ASKELADDEN CAPITAL MANAGEMENT LLC

Signature:	/s/ Samir Patel
Name/Title:	Managing Member
Date:	08/07/2026

Samir Patel

Signature:	/s/ Samir Patel
Name/Title:	Managing Member
Date:	08/07/2026