Fund 1 Investments, LLC has filed an amended ownership report showing beneficial ownership of 4,294,596 shares of ENVIRI Corp common stock, representing 5.32% of the class as of the event date. All voting and dispositive power over these shares is shared, with no sole authority reported.
The shares are held by private investment funds for which Pleasant Lake Partners LLC serves as investment adviser, while Fund 1 Investments, LLC is managing member of Pleasant Lake Partners LLC. The filing states the position is held in the ordinary course of business and not for the purpose of changing or influencing control of ENVIRI Corp.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 1)
ENVIRI Corp
(Name of Issuer)
Common Stock
(Title of Class of Securities)
415864107
(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.
415864107
1
Names of Reporting Persons
Fund 1 Investments, 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
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
4,294,596.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
4,294,596.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
4,294,596.00
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)
5.32 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: (Limited Liability Company)
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
ENVIRI Corp
(b)
Address of issuer's principal executive offices:
Two Logan Square, 100-120 North 18th Street, 17th Floor, Philadelphia, Pennsylvania, 19103
Item 2.
(a)
Name of person filing:
Fund 1 Investments, LLC
(b)
Address or principal business office or, if none, residence:
100 Carr 115 Unit 1900
Rincon, Puerto Rico 00677
(c)
Citizenship:
Delaware
(d)
Title of class of securities:
Common Stock
(e)
CUSIP No.:
415864107
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:
4,294,596
(b)
Percent of class:
5.32 %
(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:
4,294,596
(iii) Sole power to dispose or to direct the disposition of:
0
(iv) Shared power to dispose or to direct the disposition of:
4,294,596
Shares reported herein for Fund 1 Investments, LLC are held by private investment vehicles (the "Funds") for which Pleasant Lake Partners LLC serves as investment adviser. Fund 1 Investments, LLC serves as managing member of Pleasant Lake Partners LLC. Jonathan Lennon serves as managing member of Fund 1 Investments, LLC. The Reporting Person disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein.
All percentages reported herein with respect to the Reporting Person's holdings are calculated based upon a statement in Exhibit 2.2 to the Issuer's Current Report on Form 8-K, as filed with the Securities and Exchange Commission on November 21, 2025, that there were 80,698,491 shares of Common Stock of the Issuer outstanding as of November 19, 2025.
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.
If any 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, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The Funds have the right to receive and/or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than five percent of the Common Stock of the Issuer.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary.
See Item 4.
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.
What percentage of ENVIRI Corp (NVRI) does Fund 1 Investments own?
Fund 1 Investments, LLC reports beneficial ownership of 5.32% of ENVIRI Corp’s common stock. This is based on 4,294,596 shares held, calculated against 80,698,491 outstanding shares as of November 19, 2025, according to the company’s previously filed current report.
How many ENVIRI Corp (NVRI) shares does Fund 1 Investments report?
Fund 1 Investments, LLC reports beneficial ownership of 4,294,596 ENVIRI Corp common shares. These shares are held through private investment funds advised by Pleasant Lake Partners LLC, with Fund 1 Investments acting as managing member of the adviser entity in the ownership structure.
Does Fund 1 Investments have sole voting power over ENVIRI Corp (NVRI) shares?
Fund 1 Investments, LLC reports no sole voting or dispositive power over ENVIRI Corp shares. It discloses shared voting power and shared dispositive power over all 4,294,596 shares, indicating decisions are made jointly rather than under exclusive authority of the reporting person.
On what share count is the 5.32% ENVIRI Corp (NVRI) stake based?
The reported 5.32% ownership is calculated using 80,698,491 ENVIRI Corp common shares outstanding as of November 19, 2025. That outstanding share figure comes from a statement in an exhibit to the company’s current report on Form 8-K dated November 21, 2025.
Are ENVIRI Corp (NVRI) shares held to influence control according to the filing?
The filing 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 ENVIRI Corp. It also notes they are not held in connection with any transaction having that control-related purpose.
Who ultimately benefits from Fund 1 Investments’ ENVIRI Corp (NVRI) holdings?
The filing explains the shares are held by private investment funds that have the right to receive dividends and sale proceeds. Pleasant Lake Partners LLC advises these funds, and Fund 1 Investments, LLC is its managing member, while disclaiming beneficial ownership beyond its pecuniary interest.
