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# First Trust Group Reports 5.87% Stake In Shoals Technologies, Mostly Through Unit Trusts
- URL: https://www.bullished.co/first-trust-group-reports-5-87-stake-in-shoals-technologies-mostly-through-unit-trusts-31bcaf5f/
- Published: 2026-10-30T14:41:40.000Z
- Updated: 2026-10-30T14:41:40.000Z
- Description: The passive position covers 9,878,789 Shoals Class A shares, and the filers say they hold them in the ordinary course of business.
- Author: Matteo Parrino
- Tags: SEC Filings, SHLS, Industry: Industrials

First Trust Portfolios, First Trust Advisors and The Charger Corporation jointly reported a [5.87% stake](https://www.sec.gov/Archives/edgar/data/0001184765/000144554626008210/xslSCHEDULE%5F13G%5FX01/primary%5Fdoc.xml?ref=bullished.co) in [Shoals Technologies](https://www.bullished.co/tag/shls/), covering 9,878,789 Class A shares, in a passive ownership disclosure filed Friday. Shoals makes the electrical equipment that carries power from solar panels and battery storage systems to inverters and the grid.

## Where the shares sit

The filing lists September 30 as the event date. Most of the position is held through unit investment trusts that First Trust Portfolios sponsors, and First Trust Advisors acts as portfolio supervisor for those trusts.

Any shares beyond the trusts' holdings sit in other registered funds, pooled vehicles and separately managed accounts where First Trust Advisors serves as investment adviser or sub-adviser. The Charger Corporation is the general partner of both First Trust entities.

## Who votes the shares

All three filers report sole voting power of 0\. First Trust Advisors and The Charger Corporation each report [shared voting power](https://www.sec.gov/Archives/edgar/data/0001184765/000144554626008210/xslSCHEDULE%5F13G%5FX01/primary%5Fdoc.xml?ref=bullished.co) over 9,652,447 shares, and First Trust Portfolios reports none.

The filers say they have no power to vote the shares held by the trusts. The trusts' trustee votes them in the same general proportion as shares held by other owners. Each filer also disclaims beneficial ownership of the shares.

## A passive holder, by certification

The filers certify that the shares were acquired and are held in the ordinary course of business, not to change or influence control of Shoals.

Shoals, based in Portland, Tennessee, sells wire harnesses, combiners, recombiners and disconnect switches, mainly to firms that build large solar and battery projects in the United States. It is also developing offerings for data center power systems. Its shares traded at $7.24 in Friday trading, down about 4% from the prior close of $7.55, giving it a market value of $1.3 billion.

The certification leaves the First Trust group on the passive side of the ownership line: no control intent, and no voting power of its own over the trust-held shares.

### Sources

- [SCHEDULE 13G — First Trust Portfolios L.P. re: Shoals Technologies Group, Inc. (Class A) (SHLS)](https://www.sec.gov/Archives/edgar/data/0001184765/000144554626008210/xslSCHEDULE%5F13G%5FX01/primary%5Fdoc.xml?ref=bullished.co) — SEC EDGAR

### More on Shoals Technologies Group

- [BlackRock Unit Reports 6.6% Passive Stake In Shoals Technologies](https://www.bullished.co/blackrock-unit-reports-6-6-passive-stake-in-shoals-technologies-6926bf00/)

[All Shoals Technologies Group (SHLS) coverage →](https://www.bullished.co/tag/shls/)