Shoals Technologies Group, Inc.

SHLS • NASDAQ

Shoals Technologies Group, Inc. is a solar company in the energy sector on NASDAQ, led by Brandon Moss, with a market cap of $1.6B. As of Q3 2025, 108% of shares are held by 232 institutional investors, with BlackRock, Inc. as the largest holder at 16.55%.

Chief Executive OfficerBrandon Moss

Market Cap$1.6B

Solar

Energy

Employees1.3K

Websiteshoals.com

Country

United States of America

Overview

Overview of institutional ownership in SHLS as of Q3 2025 with a market cap of $1.2B

All Institutions

Institutions: 232
Value Held: $1.3B
Shares Held: 180.0M
Avg Position: $5.8M
Median Position: $424.1K

Hedge Funds

Hedge Funds: 38
Value Held: $311.4M
Shares Held: 42.0M
Avg Position: $8.2M
Median Position: $1.9M

Ownership Breakdown

Institutional (non-HF)

82.48%

$1.0B

Hedge Funds

25.11%

$311.4M

Retail & Other

Based on market cap of $1.2B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in SHLS as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BlackRock, Inc. Institution	-	$205.3M 0.00% of portfolio	16.55% 27.7M shares	Q1 2021 Held for 4y 8m	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$97.7M 0.00% of portfolio	7.88% 13.2M shares	Q1 2021 Held for 4y 8m	$6.69T
Encompass Capital Advisors LLC Hedge Fund•Long/Short	Todd Jason Kantor Managing Partner	$87.9M 3.94% of portfolio	7.09% 11.9M shares	Q1 2021 Held for 4y 8m	$2.2B
PECONIC PARTNERS LLC Hedge Fund•Long/Short	Richard Harvey Adelaar President	$52.3M 1.45% of portfolio	4.22% 7.1M shares	Q4 2024 Held for 11 months	$3.6B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$42.9M 0.00% of portfolio	3.46% 5.8M shares	Q1 2021 Held for 4y 8m	$2.88T
B BNP Paribas Investment Partners S.A. Institution	-	$42.9M 0.11% of portfolio	3.46% 5.8M shares	Q4 2024 Held for 11 months	$37.9B
Invesco Ltd. ETF Provider	Brian Christopher Hartigan CEO	$41.2M 0.01% of portfolio	3.32% 5.6M shares	Q1 2021 Held for 4y 8m	$633.08B
Pictet Asset Management Holding SA Long Only Manager	Elizabeth Retta Dillon CEO	$38.9M 0.04% of portfolio	3.13% 5.2M shares	Q3 2023 Held for 2y 2m	$103.68B
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	Robert W Sharps President	$37.6M 0.00% of portfolio	3.03% 5.1M shares	Q1 2021 Held for 4y 8m	$912.31B
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$35.3M 0.02% of portfolio	2.85% 4.8M shares	Q1 2025 Held for 8 months	$161.58B

Net Capital Flow

Institutional buying and selling activity for SHLS in Q3 2025

Traded: −$17.2M
Buyers: 120
Sellers: 118
Total Bought: +$228.7M
Total Sold: −$245.9M
Avg Position: $5.1M

Biggest Buyers

Institution	Net Bought	Current Position
PRICE T ROWE ASSOCIATES INC /MD/ Long Only Manager	+$36.6M +4.9M shares	$37.6M 5.1M shares
Y Yaupon Capital Management LP Hedge Fund•Multi-Strategy	+$17.6M +2.4M shares	$23.9M 3.2M shares
A Amundi Institution	+$14.2M +1.9M shares	$15.8M 2.1M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$13.5M +1.8M shares	$31.2M 4.2M shares
SCHRODER INVESTMENT MANAGEMENT GROUP RIA/Wealth	+$11.4M +1.5M shares	$25.3M 3.4M shares
UBS Group AG Institution	+$11.1M +1.5M shares	$24.2M 3.3M shares
E Erste Asset Management GmbH Institution	+$10.4M +1.4M shares	$33.9M 4.5M shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$10.0M +1.4M shares	$13.3M 1.8M shares
ING INVESTMENT MANAGEMENT LLC Insurance Manager	+$6.8M +917.4K shares	$7.1M 963.9K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$6.2M +839.2K shares	$6.2M 839.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$97.6M −13.2M shares	$31.4M 4.2M shares
B BlackRock, Inc. Institution	−$24.3M −3.3M shares	$205.3M 27.7M shares
B BNP Paribas Investment Partners S.A. Institution	−$14.7M −2.0M shares	$42.9M 5.8M shares
Electron Capital Partners, LLC Hedge Fund•Long/Short	−$12.3M −1.7M shares	$2.4M 317.7K shares
Encompass Capital Advisors LLC Hedge Fund•Long/Short	−$9.9M −1.3M shares	$87.9M 11.9M shares
FRONTIER CAPITAL MANAGEMENT CO LLC Long Only Manager	−$7.9M −1.1M shares	$14.9M 2.0M shares
BANK OF AMERICA CORP /DE/ Institution	−$7.3M −986.1K shares	$6.9M 936.1K shares
FRANKLIN RESOURCES INC Institution	−$6.9M −936.7K shares	$13.3M 1.8M shares
GOLDMAN SACHS GROUP INC Institution	−$5.9M −798.7K shares	$17.2M 2.3M shares
S Squarepoint Ops LLC Hedge Fund•Quant	−$5.7M −765.3K shares	$2.9M 388.2K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited SHLS in Q3 2025

New Positions: 21
New Value: $28.5M
Exited Positions: 31
Exited Value: $15.7M

New Positions

Institution	Position Value
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	$6.2M 839.2K shares
Portolan Capital Management, LLC Hedge Fund•Long/Short	$6.0M 815.2K shares
Palo Duro Investment Partners, LP Hedge Fund•Sector	$4.2M 566.6K shares
R Ruffer LLP Long Only Manager	$2.7M 369.1K shares
M Mercuria Capital Strategies, LLC Institution	$2.2M 300.0K shares
GREAT LAKES ADVISORS, LLC Long Only Manager	$1.5M 208.6K shares
T Torrey Growth & Income Advisors RIA/Wealth	$1.3M 179.4K shares
SummitTX Capital, L.P. Hedge Fund•Multi-Strategy	$1.1M 150.0K shares
F Financial Enhancement Group LLC RIA/Wealth	$992.2K 112.2K shares
L LSV ASSET MANAGEMENT Long Only Manager	$423.1K 57.1K shares

Exited Positions

Institution	Previous Position
P Pacer Advisors, Inc. Institution	$3.4M 806.0K shares
CenterBook Partners LP Hedge Fund•Market Neutral	$2.8M 651.5K shares
Trexquant Investment LP Hedge Fund•Quant	$2.6M 617.1K shares
Caption Management, LLC Hedge Fund•Long/Short	$1.3M 299.2K shares
Lighthouse Investment Partners, LLC Fund of Funds	$1.0M 240.0K shares
M Maxi Investments CY Ltd Institution	$850.0K 200.0K shares
Centiva Capital, LP Hedge Fund•Multi-Strategy	$811.9K 191.0K shares
Militia Capital Partners, LP Hedge Fund•Long/Short	$506.1K 119.1K shares
R ROBECOSAM AG Institution	$467.5K 110.0K shares
M Manatuck Hill Partners, LLC Hedge Fund•Long/Short	$425.0K 100.0K shares

Options Activity

Institutions with the largest Call and Put options positions in SHLS as of Q3 2025

Call Positions: 18
Call Value: $40.1M
Put Positions: 9
Put Value: $6.9M

Call Positions

Institution	Position Value
B BNP PARIBAS ARBITRAGE, SA Institution	$9.4M 126.4 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$8.0M 10.8K contracts
Y Yaupon Capital Management LP Hedge Fund•Multi-Strategy	$7.4M 10.0K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$3.8M 5.2K contracts
J JANE STREET GROUP, LLC Institution	$3.8M 5.2K contracts
P PEAK6 LLC Institution	$2.6M 3.4K contracts
W WOLVERINE TRADING, LLC Institution	$1.9M 2.6K contracts
Walleye Trading LLC RIA/Wealth	$1.0M 1.4K contracts
WELLINGTON MANAGEMENT CO LLP Long Only Manager	$910.1K 82.7 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$476.5K 643.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.5M 2.1K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.3M 1.8K contracts
Centiva Capital, LP Hedge Fund•Multi-Strategy	$1.2M 1.7K contracts
W WOLVERINE TRADING, LLC Institution	$978.1K 1.3K contracts
WELLINGTON MANAGEMENT CO LLP Long Only Manager	$679.5K 84.9 contracts
J JANE STREET GROUP, LLC Institution	$662.5K 894.0 contracts
D D. E. Shaw & Co., Inc. Institution	$296.4K 400.0 contracts
Walleye Trading LLC RIA/Wealth	$157.1K 212.0 contracts
Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy	$62.2K 84.0 contracts

Most Committed Institutions

Institutions with SHLS as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Redwood Grove Capital, LLC Hedge Fund•Value	Theodore Roosevelt Managing Partner	6.12% $21.4M	1.72% 2.9M shares	Q1 2024 Held for 1y 8m	$349.4M
Encompass Capital Advisors LLC Hedge Fund•Long/Short	Todd Jason Kantor Managing Partner	3.94% $87.9M	7.09% 11.9M shares	Q1 2021 Held for 4y 8m	$2.2B
M Mercuria Capital Strategies, LLC Institution	-	2.93% $2.2M	0.18% 300.0K shares	Q3 2025 Held for 2 months	$75.9M
PECONIC PARTNERS LLC Hedge Fund•Long/Short	Richard Harvey Adelaar President	1.45% $52.3M	4.22% 7.1M shares	Q4 2024 Held for 11 months	$3.6B
Palo Duro Investment Partners, LP Hedge Fund•Sector	Matthew Waller Dougherty Founder	1.33% $4.2M	0.34% 566.6K shares	Q3 2025 Held for 2 months	$315.3M
Y Yaupon Capital Management LP Hedge Fund•Multi-Strategy	Steven James Pattyn CIO	1.23% $23.9M	1.92% 3.2M shares	Q2 2025 Held for 5 months	$1.9B
C CoreCommodity Management, LLC Hedge Fund•Global Macro	Bradford L Klein President	0.89% $4.9M	0.39% 659.2K shares	Q2 2023 Held for 2y 5m	$551.0M
T Telemark Asset Management, LLC Hedge Fund•Long/Short	Colin Mcnay President	0.70% $7.4M	0.60% 1.0M shares	Q2 2025 Held for 5 months	$1.1B
T Torrey Growth & Income Advisors RIA/Wealth	George Richard Hoover Managing Partner	0.39% $1.3M	0.11% 179.4K shares	Q3 2025 Held for 2 months	$339.8M
E Erste Asset Management GmbH Institution	-	0.33% $33.9M	2.70% 4.5M shares	Q2 2021 Held for 4y 5m	$10.3B