Fund tied to Intelligent Fanatics boosts Koil Energy (KLNG) stake

Rhea-AI Filing Summary

Koil Energy Solutions, Inc. saw a significant shareholder associated with Intelligent Fanatics increase its position through open-market buying. On April 13, 2026, IFCM MicroCap Fund LP, for which Intelligent Fanatics Capital Management LLC is general partner, purchased a total of 36,322 shares of common stock at $1.72 per share.

After these transactions, the fund beneficially owned 1,567,131 shares of Koil Energy Solutions common stock. The shares are held directly by IFCM MicroCap Fund LP and indirectly by Intelligent Fanatics Capital Management LLC and Ian J. Cassel, who has shared voting and investment power but disclaims beneficial ownership beyond his partnership interests.

Insider Trade Summary

Net Buyer: 36,322 shares ($62,474)

Net Buy 2 txns

Insider Intelligent Fanatics Capital Management LLC, Cassel Ian J., IFCM MicroCap Fund LP

Role 10% Owner | 10% Owner | 10% Owner

Bought 36,322 shs ($62K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.0001	18,161	$1.72	$31K
Purchase	Common Stock, par value $0.0001	18,161	$1.72	$31K

Holdings After Transaction: Common Stock, par value $0.0001 — 1,567,131 shares (Direct); Common Stock, par value $0.0001 — 1,567,131 shares (Indirect, See Footnotes)

Footnotes (1)

1. Intelligent Fanatics Capital Management LLC (IFCM) is the general partner of IFCM MicroCap Fund LP (Fund). The securities reported in this form are held directly by the Fund and indirectly by IFCM and Mr. Cassel (see footnote 2). 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. Mr. Cassel disclaims beneficial ownership of the shares beneficially owned by the Fund, other than the shares attributable to his limited and general partnership interest therein.

Key Figures

Total shares purchased: 36,322 shares Purchase price: $1.72 per share Shares per transaction: 18,161 shares +1 more

4 metrics

Total shares purchased 36,322 shares Open-market buys on April 13, 2026

Purchase price $1.72 per share Common Stock, par value $0.0001

Shares per transaction 18,161 shares Each of two reported purchases on April 13, 2026

Shares after transactions 1,567,131 shares Total beneficial ownership following purchases

Key Terms

general partner, beneficial owner, shared voting and investment power, limited and general partnership interest

4 terms

general partner financial

"Intelligent Fanatics Capital Management LLC (IFCM) is the general partner of IFCM MicroCap Fund LP"

A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.

beneficial owner financial

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

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 and investment power financial

"Mr. Cassel has shared voting and investment power with respect to the shares"

limited and general partnership interest financial

"other than the shares attributable to his limited and general partnership interest therein"

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Intelligent Fanatics Capital Management LLC

(Last) (First) (Middle)

350 RUMFORD ROAD

(Street)

LITITZ PENNSYLVANIA 17543

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Koil Energy Solutions, Inc. [ KLNG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.0001	04/13/2026		P		18,161	A	$1.72	1,567,131	D(1)
Common Stock, par value $0.0001	04/13/2026		P		18,161	A	$1.72	1,567,131	I	See Footnotes(1)(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Intelligent Fanatics Capital Management LLC

(Last) (First) (Middle)

350 RUMFORD ROAD

(Street)

LITITZ PENNSYLVANIA 17543

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Cassel Ian J.

(Last) (First) (Middle)

350 RUMFORD ROAD

(Street)

LITITZ PENNSYLVANIA 17543

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

IFCM MicroCap Fund LP

(Last) (First) (Middle)

350 RUMFORD ROAD

(Street)

LITITZ PENNSYLVANIA 17543

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. Intelligent Fanatics Capital Management LLC (IFCM) is the general partner of IFCM MicroCap Fund LP (Fund). The securities reported in this form are held directly by the Fund and indirectly by IFCM and Mr. Cassel (see footnote 2).

2. 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. Mr. Cassel disclaims beneficial ownership of the shares beneficially owned by the Fund, other than the shares attributable to his limited and general partnership interest therein.

	/s/ Ian Cassel, on behalf of himself and each other reporting person here	04/13/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider activity did KLNG report in this Form 4 filing?

The filing shows an affiliated fund bought more KLNG shares in the open market. IFCM MicroCap Fund LP acquired 36,322 common shares at $1.72, increasing its beneficial holdings to 1,567,131 shares linked to Intelligent Fanatics and Ian J. Cassel.

How many Koil Energy (KLNG) shares were purchased and at what price?

The affiliated fund purchased 36,322 shares of Koil Energy common stock. The transactions occurred at a price of $1.72 per share, representing open-market purchases that modestly increased the fund’s existing position in the company.

Who is the main holder involved in this KLNG insider purchase?

The main holder is IFCM MicroCap Fund LP, a fund for which Intelligent Fanatics Capital Management LLC acts as general partner. The shares are held directly by the fund and indirectly by IFCM and Ian J. Cassel through their partnership interests.

What is Ian J. Cassel’s relationship to the KLNG shares reported?

Ian J. Cassel is the sole managing member of Intelligent Fanatics Capital Management LLC, the fund’s general partner. He shares voting and investment power over the fund’s KLNG shares but disclaims beneficial ownership beyond his limited and general partnership interests.

How many Koil Energy (KLNG) shares did the fund hold after the transactions?

Following the April 13, 2026 purchases, IFCM MicroCap Fund LP beneficially owned 1,567,131 shares of Koil Energy common stock. This figure reflects the position after adding the 36,322 shares bought in the reported open-market transactions.