Innovative Food investor reports 4.9% stake

A shareholder group led by Intelligent Fanatics Capital Management reports a 4.9% passive stake in Innovative Food Holdings common stock.

Rhea-AI Filing Summary

INNOVATIVE FOOD HOLDINGS INC (IVFH) is the subject of an amended Schedule 13G filing in which Intelligent Fanatics Capital Management LLC, IFCM MicroCap Fund LP and Ian Cassel report beneficial ownership of IVFH common shares.

The group reports beneficial ownership of 2,690,153 common shares, representing 4.9% of the class. All three reporting persons have 0 shares with sole voting or dispositive power and 2,690,153 shares with shared voting and shared dispositive power

The filing is marked as reflecting ownership of 5 percent or less of IVFH’s common stock.

Key Figures

Beneficially owned shares: 2,690,153 shares Percent of class: 4.9% Sole voting power: 0 shares +4 more

7 metrics

Beneficially owned shares 2,690,153 shares Common shares of Innovative Food Holdings Inc reported by each reporting person

Percent of class 4.9% Portion of IVFH common shares beneficially owned by each reporting person

Sole voting power 0 shares Number of IVFH shares over which the reporting persons have sole voting power

Shared voting power 2,690,153 shares Number of IVFH shares over which each reporting person has shared voting power

Sole dispositive power 0 shares IVFH shares over which the reporting persons have sole power to dispose

Shared dispositive power 2,690,153 shares IVFH shares over which each reporting person has shared power to dispose

Filing date reference September 10, 2026 Date associated with the amended Schedule 13G for IVFH

Key Terms

beneficial owner, shared voting power, dispositive power, Schedule 13G, +1 more

5 terms

beneficial owner financial

"may be deemed to be the beneficial owner of, the shares beneficially"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared voting power financial

"Shared Voting Power 2,690,153.00"

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

"Shared Dispositive Power 2,690,153.00"

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.

Schedule 13G regulatory

"The securities reported in this are held directly by the Fund"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

percent of class financial

"Percent of class: Intelligent Fanatics Capital Management, LLC: 4.9%"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake in IVFH does Intelligent Fanatics Capital Management report in this Schedule 13G/A?

The reporting persons disclose beneficial ownership of 2,690,153 IVFH common shares, representing 4.9% of the outstanding class, with shared voting and dispositive power over all of these shares.

Who are the reporting persons in the IVFH Schedule 13G/A filing?

The filing lists Intelligent Fanatics Capital Management LLC, IFCM MicroCap Fund LP, and Ian Cassel as reporting persons, acting together with shared voting and investment power over 2,690,153 IVFH common shares.

How much voting power over IVFH shares does the Intelligent Fanatics group report?

The reporting persons state they have 0 shares with sole voting power and 2,690,153 shares with shared voting power in IVFH, matching the number of shares they beneficially own.

What percentage of IVFH common stock is reported as beneficially owned in this amendment?

Each of Intelligent Fanatics Capital Management LLC, IFCM MicroCap Fund LP, and Ian Cassel reports beneficial ownership of 4.9% of IVFH’s common shares, which is described as ownership of 5 percent or less of the class.

How does the filing describe Ian Cassel’s beneficial ownership of IVFH shares?

Ian Cassel is described as having shared voting and investment power over the IVFH shares through IFCM and the fund, and he disclaims beneficial ownership of shares held by the fund and clients except for those attributable to his limited and general partnership interests.

Where are the reporting entities in the IVFH Schedule 13G/A organized?

The filing states that Intelligent Fanatics Capital Management LLC is organized in Pennsylvania, IFCM MicroCap Fund LP in Delaware, and Ian Cassel is a citizen of the United States.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/11/2026 - 04:42 PM Accepted by SEC EDGAR 09/11/2026 - 04:41 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

INNOVATIVE FOOD HOLDINGS INC

(Name of Issuer)

Common Shares, par value $0.0001

(Title of Class of Securities)

45772H202

(CUSIP Number)

09/10/2026

(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): 45772H202

1

Names of Reporting Persons

Intelligent Fanatics 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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,690,153.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,690,153.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,690,153.00

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)

4.9 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: Intelligent Fanatics Capital Management LLC (IFCM) is the general partner of IFCM MicroCap Fund LP (Fund). The securities reported in this Schedule 13G are held directly by the Fund or other discretionary investment clients of IFCM.

SCHEDULE 13G

CUSIP Number(s): 45772H202

1

Names of Reporting Persons

Cassel Ian J.

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 2,690,153.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,690,153.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,690,153.00

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)

4.9 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Mr. Cassel is the sole managing member of IFCM. Mr. Cassel has shared voting and investment power with respect to, and therefore may be deemed to be the beneficial owner of, the shares beneficially owned by the Fund and other discretionary investment clients of IFCM. Mr. Cassel disclaims beneficial ownership of the shares beneficially owned by the Fund and other discretionary investment clients of IFCM, other than the shares attributable to his limited and general partnership interest therein

SCHEDULE 13G

CUSIP Number(s): 45772H202

1

Names of Reporting Persons

IFCM MicroCap Fund LP

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 2,690,153.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 2,690,153.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,690,153.00

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)

4.9 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: INNOVATIVE FOOD HOLDINGS INC
(b)	Address of issuer's principal executive offices: 2528 S 27TH AVE, BROADVIEW, ILLINOIS, 60155.
Item 2.
(a)	Name of person filing: Intelligent Fanatics Capital Management, LLC Ian Cassel IFCM MicroCap Fund LP
(b)	Address or principal business office or, if none, residence: 350 Rumford Road Lititz, Pennsylvania 17543
(c)	Citizenship: Intelligent Fanatics Capital Management, LLC - Pennsylvania IFCM MicroCap Fund LP- Delaware Ian Cassel - USA
(d)	Title of class of securities: Common Shares, par value $0.0001
(e)	CUSIP No.: 45772H202
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: Intelligent Fanatics Capital Management, LLC: 2,690,153 Ian Cassel: 2,690,153 IFCM MicroCap Fund LP: 2,690,153
(b)	Percent of class: Intelligent Fanatics Capital Management, LLC: 4.9% Ian Cassel: 4.9% IFCM MicroCap Fund LP: 4.9%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: Intelligent Fanatics Capital Management, LLC: 2,690,153 Ian Cassel: 2,690,153 IFCM MicroCap Fund LP: 2,690,153
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: Intelligent Fanatics Capital Management, LLC: 2,690,153 Ian Cassel: 2,690,153 IFCM MicroCap Fund LP: 2,690,153
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. See Item 2(a) in lieu of an Exhibit.
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 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.

Intelligent Fanatics Capital Management LLC

Signature:	Ian Cassel
Name/Title:	Managing Member
Date:	09/11/2026

Cassel Ian J.

Signature:	Ian Cassel
Name/Title:	Self
Date:	09/11/2026

IFCM MicroCap Fund LP

Signature:	Ian Cassel
Name/Title:	Managing Member
Date:	09/11/2026

Exhibit Information

Exhibit 1 - Agreement of Reporting