T. Rowe Price holds 11.1% in Shoals Technologies Group (SHLS)

Rhea-AI Filing Summary

T. Rowe Price Associates, Inc. reports beneficial ownership of 18,597,129 shares of Shoals Technologies Group -A, equal to 11.1% of the class. The filing lists sole voting power of 18,572,125 shares and sole dispositive power of 18,594,901 shares. The filing is an amended Schedule 13G/A signed on 03/06/2026.

Insights

Institutional Ownership Analyst

Large passive stake disclosed: T. Rowe Price holds 11.1% of Shoals.

T. Rowe Price reports 18,597,129 shares beneficially owned with 11.1% of the class, and substantial sole voting and dispositive powers as shown. The amendment updates prior holdings and affirms ownership metrics as of the filing.

Holder statements deny beneficial ownership in boilerplate; cash‑flow treatment or sale intentions are not stated in the excerpt, so subsequent filings would show any trading activity.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

SHOALS TECHNOLOGIES GROUP -A

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

02/28/2026

(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)

SCHEDULE 13G

CUSIP Number(s):

1

Names of Reporting Persons

T. Rowe Price Associates, Inc.

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

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 18,572,125.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 18,594,901.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

18,597,129.00

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)

11.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SHOALS TECHNOLOGIES GROUP -A
(b)	Address of issuer's principal executive offices: 1500 SHOALS WAY, PORTLAND, TN, 37148
Item 2.
(a)	Name of person filing: T. Rowe Price Associates, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 82489W107
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: 18597129
(b)	Percent of class: 11.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 18572125
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 18594901
	(iv) Shared power to dispose or to direct the disposition of: 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. T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Associates is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

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.

T. Rowe Price Associates, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	03/06/2026

FAQ

What stake does T. Rowe Price report in Shoals Technologies Group (SHLS)?

T. Rowe Price reports beneficial ownership of 18,597,129 shares, representing 11.1% of Shoals Technologies Group -A. The Schedule 13G/A shows sole voting power of 18,572,125 shares and sole dispositive power of 18,594,901.

When was the amended Schedule 13G/A for T. Rowe Price signed?

The amendment was signed on 03/06/2026. It amends the prior Schedule 13G filing to report the disclosed ownership figures and powers in the filing excerpt provided.

Does the filing state whether T. Rowe Price intends to sell SHLS shares?

The excerpt does not state any sale intentions or plan of distribution. It lists ownership and voting/dispositive powers only; no trading intentions or cash‑flow treatment are disclosed in the provided text.

What voting and dispositive powers does T. Rowe Price hold over SHLS shares?

The filing lists sole voting power for 18,572,125 shares and sole dispositive power for 18,594,901 shares. Shared voting and dispositive powers are shown as 0 in the excerpt.

Does the Schedule 13G/A assert beneficial ownership legally?

The filing includes a statement where T. Rowe Price "hereby declares and affirms" that the filing "shall not be construed as an admission" of beneficial ownership. That boilerplate denies beneficial ownership despite the reported figures.