Major holder Robert L. Bugbee discloses 9.3% Soluna Holdings (SLNH) stake

Rhea-AI Filing Summary

Soluna Holdings, Inc. received a large shareholder disclosure from investor Robert L. Bugbee, who reported beneficial ownership of 9,168,000 shares of common stock, representing 9.3% of the class as of February 6, 2026.

Bugbee reports sole voting and sole dispositive power over all 9,168,000 shares, with no shared voting or dispositive authority. He also certifies that the shares were not acquired to change or influence control of Soluna Holdings and that he is not part of any group with respect to this investment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Soluna Holdings, Inc

(Name of Issuer)

Common stock, par value $0.001 per share

(Title of Class of Securities)

583543301

(CUSIP Number)

02/06/2026

(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 No. 583543301

1

Names of Reporting Persons

BUGBEE ROBERT L

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 KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,168,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 9,168,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,168,000.00

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)

9.3 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Soluna Holdings, Inc
(b)	Address of issuer's principal executive offices: 325 WASHINGTON AVENUE EXTENSION, ALBANY, NEW YORK, 12205.
Item 2.
(a)	Name of person filing: Robert L. Bugbee
(b)	Address or principal business office or, if none, residence: L'Exotique, 99 Boulevard Jardin Exotique, Monaco, 98000
(c)	Citizenship: United Kingdom
(d)	Title of class of securities: Common stock, par value $0.001 per share
(e)	CUSIP No.: 583543301
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: 9,168,000
(b)	Percent of class: 9.3%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 9,168,000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 9,168,000
	(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 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.

BUGBEE ROBERT L

Signature:	/s/
Name/Title:	Robert L. Bugbee
Date:	02/11/2026

FAQ

What ownership stake did Robert L. Bugbee report in Soluna Holdings (SLNH)?

Robert L. Bugbee reported beneficial ownership of 9,168,000 shares of Soluna Holdings common stock, representing 9.3% of the outstanding class. This Schedule 13G filing reflects his status as a significant shareholder with a sizable single-investor position in the company.

Does Robert L. Bugbee have control over how his Soluna Holdings (SLNH) shares are voted?

Yes. The filing states that Bugbee has sole voting power over all 9,168,000 shares and sole dispositive power over the same amount. He reports zero shared voting or shared dispositive power with any other person or entity.

Is Robert L. Bugbee acting as part of a group in his Soluna Holdings (SLNH) investment?

No. The Schedule 13G indicates that group-related items are Not Applicable, and there is no identification of any group members. The filing presents Bugbee as an individual reporting person, not as part of a coordinated shareholder group.

What reason does Robert L. Bugbee give for holding Soluna Holdings (SLNH) shares?

Bugbee certifies that his Soluna Holdings securities were not acquired and are not held for the purpose of changing or influencing control of the issuer. He also states they are not held in connection with any control-related transaction, other than specified nomination activities.

When did Robert L. Bugbee’s Soluna Holdings (SLNH) ownership trigger this Schedule 13G filing?

The filing lists February 6, 2026 as the Date of Event requiring the statement. That date reflects when his Soluna Holdings beneficial ownership position reached a level that triggered the Schedule 13G reporting requirement under SEC rules.

What class of Soluna Holdings (SLNH) securities is covered by Robert L. Bugbee’s Schedule 13G?

The Schedule 13G covers common stock of Soluna Holdings, Inc., with a par value of $0.001 per share. The filing also identifies the relevant CUSIP number as 583543301, which helps precisely reference this security class.