Soluna Holdings Ownership

Who are the major shareholders and have insiders been buying or selling?

Recent Insider Transactions

NasdaqCM:SLNH Recent Insider Transactions by Companies or Individuals
Date	Value	Name	Entity	Shares	Max Price
16 Dec 25	SellUS$1,833	William Phelan	Individual	1,300	US$1.41
12 Dec 25	SellUS$2,227	David Michaels	Individual	1,017	US$2.19
21 Nov 25	SellUS$13,323	John Belizaire	Individual	9,222	US$1.45
22 May 25	SellUS$8,435	Jessica Thomas	Individual	10,851	US$0.78
20 May 25	SellUS$1,593	Thomas Marusak	Individual	1,991	US$0.80

Insider Trading Volume

Insider Buying: SLNH insiders have only sold shares in the past 3 months.

Ownership Breakdown

What is the ownership structure of SLNH?
Owner Type	Number of Shares	Ownership Percentage
Institutions	6,353,974	6.45%
Individual Insiders	23,931,383	24.3%
General Public	68,289,111	69.3%

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 1077.3%.

Top Shareholders

Top 25 shareholders own 30.41% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
9.96%	Michael Toporek	9,822,282	US$14.2m	236%	no data
4.11%	John Belizaire	4,053,287	US$5.9m	232%	no data
1.52%	Point72 Asset Management, L.P.	1,500,891	US$2.2m	0%	no data
1.34%	William Phelan	1,318,715	US$1.9m	228%	no data
1.2%	David Michaels	1,179,787	US$1.7m	211%	no data
1.17%	Thomas Marusak	1,149,040	US$1.7m	230%	no data
1.07%	Yorkville Advisors Global LP	1,059,641	US$1.5m	0%	0.45%
1.06%	Alpha Capital Anstalt	1,045,318	US$1.5m	1,080%	65.04%
0.99%	Matthew Lipman	977,402	US$1.4m	234%	no data
0.99%	Mary O’Reilly	977,274	US$1.4m	234%	no data
0.99%	John Bottomley	977,158	US$1.4m	235%	no data
0.99%	Edward Hirshfield	976,318	US$1.4m	235%	no data
0.97%	William Hazelip	958,799	US$1.4m	229%	no data
0.81%	Jessica Thomas	795,197	US$1.2m	607%	no data
0.72%	Hudson River Trading LLC	711,967	US$1.0m	0%	no data
0.7%	Mirae Asset Global Investments Co., Ltd.	691,314	US$1.0m	0%	no data
0.49%	Agnieska Budzyn	485,000	US$703.2k	0%	no data
0.34%	The Vanguard Group, Inc.	335,276	US$486.1k	723%	no data
0.26%	John Tunison	255,186	US$370.0k	0%	no data
0.22%	Geode Capital Management, LLC	220,732	US$320.1k	149%	no data
0.2%	Millennium Management LLC	200,279	US$290.4k	0%	no data
0.1%	State Street Global Advisors, Inc.	98,794	US$143.2k	752%	no data
0.082%	XTX Markets Limited	80,513	US$116.7k	0%	0.01%
0.062%	Jane Street Group, LLC	61,109	US$88.6k	113%	no data
0.044%	Northern Trust Global Investments	43,466	US$63.0k	306%	no data

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2026/01/22 03:16
End of Day Share Price	2026/01/22 00:00
Earnings	2025/09/30
Annual Earnings	2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Soluna Holdings, Inc. is covered by 1 analysts. 1 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Kevin Dede	H.C. Wainwright & Co.