Encompass Capital, Todd Kantor disclose 2.88% SHOALS (SHLS) ownership in 13G/A

Rhea-AI Filing Summary

Encompass Capital Advisors LLC and Todd J. Kantor report their beneficial ownership of Shoals Technologies Group, Inc. Class A common stock in this amended Schedule 13G filing. They disclose beneficial ownership of 4,823,369 shares, representing 2.88% of the Class A common stock outstanding as of December 31, 2025.

Both reporting persons indicate they have no sole voting or dispositive power, but share voting and dispositive power over all reported shares. They also state that they now own 5 percent or less of this class and certify that the holdings are not for the purpose of changing or influencing control of Shoals Technologies Group, Inc.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

Shoals Technologies Group, Inc.

(Name of Issuer)

Class A Common Stock, $0.00001 Par Value

(Title of Class of Securities)

82489W107

(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. 82489W107

1

Names of Reporting Persons

Encompass Capital Advisors 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 4,823,369.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,823,369.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,823,369.00

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)

2.88 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 82489W107

1

Names of Reporting Persons

Todd J. Kantor

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 4,823,369.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,823,369.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,823,369.00

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)

2.88 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Shoals Technologies Group, Inc.
(b)	Address of issuer's principal executive offices: 1400 Shoals Way, Portland, TN 37148
Item 2.
(a)	Name of person filing: Encompass Capital Advisors LLC Todd J. Kantor
(b)	Address or principal business office or, if none, residence: Encompass Capital Advisors LLC is 200 Park Avenue, Suite 1604, New York, NY 10166 Todd J. Kantor is c/o Encompass Capital Advisors LLC, 200 Park Avenue, Suite 1604, New York, NY 10166
(c)	Citizenship: Encompass Capital Advisors LLC is a Delaware Limited Liability Company Todd J. Kantor is a US citizen
(d)	Title of class of securities: Class A Common Stock, $0.00001 Par Value
(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: Encompass Capital Advisors LLC 4,823,369 Todd J. Kantor 4,823,369
(b)	Percent of class: Encompass Capital Advisors LLC 2.88% Todd J. Kantor 2.88%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Encompass Capital Advisors LLC 0 Todd J. Kantor 0
	(ii) Shared power to vote or to direct the vote: Encompass Capital Advisors LLC 4,823,369 Todd J. Kantor 4,823,369
	(iii) Sole power to dispose or to direct the disposition of: Encompass Capital Advisors LLC 0 Todd J. Kantor 0
	(iv) Shared power to dispose or to direct the disposition of: Encompass Capital Advisors LLC 4,823,369 Todd J. Kantor 4,823,369
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.
	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 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.

Encompass Capital Advisors LLC

Signature:	Todd J. Kantor
Name/Title:	Todd J. Kantor | Managing Member
Date:	02/17/2026

Todd J. Kantor

Signature:	Todd J. Kantor
Name/Title:	Todd J. Kantor | Self
Date:	02/17/2026

Exhibit Information

JOINT FILING AGREEMENT The undersigned hereby agree that the statement on SCHEDULE 13G/A with respect to the shares of Class A Common Stock of Shoals Technologies Group, Inc., dated as of December 31, 2025 is, and any amendments thereto signed by each of the undersigned shall be, filed on behalf of each of us pursuant to and in accordance with the provisions of Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. Date: February 17, 2026 Encompass Capital Advisors LLC By: Todd J. Kantor Name: Todd J. Kantor Title: Managing Member Todd J. Kantor By: Todd J. Kantor Name: Todd J. Kantor

FAQ

What ownership stake in Shoals Technologies Group (SHLS) is reported in this Schedule 13G/A?

The filing reports that Encompass Capital Advisors LLC and Todd J. Kantor beneficially own 4,823,369 shares of Shoals Technologies Group Class A common stock, representing 2.88% of the class as of December 31, 2025, based on the issuer’s outstanding shares.

Who are the reporting persons in this Shoals Technologies Group (SHLS) Schedule 13G/A?

The reporting persons are Encompass Capital Advisors LLC, a Delaware limited liability company, and Todd J. Kantor, a U.S. citizen. Both jointly file regarding their beneficial ownership of Shoals Technologies Group Class A common stock and share voting and dispositive power over the reported shares.

How much voting power do the filers report over SHLS shares in this Schedule 13G/A?

The filers report no sole voting power and shared voting power over 4,823,369 shares of Shoals Technologies Group Class A common stock. They also report identical shared dispositive power over the same number of shares, reflecting coordinated control of this stake.

Does Encompass Capital Advisors remain a 5% holder of Shoals Technologies Group (SHLS)?

No. The filing states “Ownership of 5 percent or less of a class,” indicating the reported stake is now below 5%. Their beneficial ownership is 2.88% of Shoals Technologies Group’s Class A common stock as of December 31, 2025.

Are the SHLS shares held to influence control of Shoals Technologies Group?

The reporting persons certify the securities were not acquired and are not held for the purpose of changing or influencing control of Shoals Technologies Group, Inc., and are not held in connection with any transaction having that purpose, aside from specified proxy nomination activities under Rule 14a-11.

What type of Shoals Technologies Group (SHLS) security is covered in this Schedule 13G/A?

The filing covers Class A common stock of Shoals Technologies Group, Inc., with a par value of $0.00001 per share. The securities are identified by CUSIP 82489W107, and the reported ownership percentages relate specifically to this class of stock.