Shoals Technologies (SHLS): T. Rowe Price reports 12.9% ownership stake

Rhea-AI Filing Summary

T. Rowe Price Associates, Inc. filed an amended Schedule 13G reporting a significant ownership position in Shoals Technologies Group -A common stock. The firm reports beneficial ownership of 21,602,202 shares, representing 12.9% of the outstanding common stock. It reports sole voting power over 21,578,058 shares and sole dispositive power over 21,602,202 shares, with no shared voting or dispositive power. T. Rowe Price Associates states that this filing should not be construed as an admission that it is the beneficial owner of these securities, and such beneficial ownership is expressly denied.

Key Figures

Shares beneficially owned: 21,602,202 shares Percent of class: 12.9% Sole voting power: 21,578,058 shares +3 more

6 metrics

Shares beneficially owned 21,602,202 shares Common stock of Shoals Technologies Group -A reported by T. Rowe Price Associates, Inc.

Percent of class 12.9% Portion of Shoals Technologies Group -A common stock class reported as beneficially owned

Sole voting power 21,578,058 shares Shares of SHLS over which T. Rowe Price Associates has sole voting power

Shared voting power 0 shares Shares of SHLS over which T. Rowe Price Associates has shared voting power

Sole dispositive power 21,602,202 shares SHLS shares over which T. Rowe Price Associates has sole power to dispose

Shared dispositive power 0 shares SHLS shares over which T. Rowe Price Associates has shared dispositive power

Key Terms

beneficially owned, sole voting power, dispositive power, Schedule 13G

4 terms

beneficially owned financial

"Amount beneficially owned: 21602202"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

sole voting power financial

"Sole power to vote or to direct the vote: 21578058"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

dispositive power financial

"Sole power to dispose or to direct the disposition of: 21602202"

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

"T. Rowe Price Associates, Inc. hereby declares and affirms that the filing of"

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.

FAQ

What ownership stake in SHLS does T. Rowe Price Associates report in this Schedule 13G/A?

T. Rowe Price Associates reports beneficial ownership of 21,602,202 SHLS shares, representing 12.9% of the common stock. This reflects a significant institutional position in Shoals Technologies Group -A.

How much voting power in SHLS stock does T. Rowe Price Associates have?

The filer reports sole voting power over 21,578,058 SHLS shares and no shared voting power. This means voting decisions for those shares are controlled solely by T. Rowe Price Associates.

What dispositive power over SHLS shares does T. Rowe Price Associates hold?

T. Rowe Price Associates reports sole dispositive power over 21,602,202 SHLS shares and no shared dispositive power. Dispositive power refers to the authority to sell or otherwise dispose of the shares.

Does T. Rowe Price Associates admit beneficial ownership of the SHLS securities?

No. The firm explicitly states that the filing shall not be construed as an admission that it is the beneficial owner of the SHLS securities, and that such beneficial ownership is expressly denied.

Who signed the SHLS Schedule 13G/A filing for T. Rowe Price Associates?

The filing is signed by Ellen York, identified as Vice President of T. Rowe Price Associates, Inc. Her signature certifies the accuracy of the reported SHLS ownership information.

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

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Available on EDGAR 08/14/2026 - 10:40 AM Accepted by SEC EDGAR 08/14/2026 - 10:38 AM 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)

SHOALS TECHNOLOGIES GROUP -A

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

82489W107

(CUSIP Number)

06/30/2026

(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): 82489W107

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 21,578,058.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 21,602,202.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

21,602,202.00

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)

12.9 %

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: 21602202
(b)	Percent of class: 12.9 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 21578058
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 21602202
	(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:	08/14/2026