SCHEDULE: M3 Funds Group Discloses 3.84% Passive Stake in SHF Holdings

M3 Funds, LLC and its affiliates reported a passive beneficial ownership of 3.84% of SHF Holdings, Inc.'s common stock as of September 30, 2025.

Summary

• M3 Funds, LLC, M3 Partners, LP, M3F, Inc., Jason A. Stock, and William C. Waller collectively reported beneficial ownership of 111,943 shares of SHF Holdings, Inc. common stock.
• This ownership represents 3.84% of the class of securities.
• The reporting persons share both voting and dispositive power over all 111,943 shares.
• The filing is an Amendment No. 2 to a Schedule 13G, indicating a passive investment strategy.
• The securities were not acquired or held for the purpose of changing or influencing control of the issuer, other than activities solely in connection with a nomination under Rule 14a-11.

Sentiment

Score: 5

Explanation: The filing is a routine disclosure of a passive beneficial ownership stake below the 5% threshold, indicating a neutral stance regarding the company's immediate performance or strategic direction.

Positives

• Disclosure of a passive investment by M3 Funds, LLC and its affiliates, potentially signaling investor confidence in SHF Holdings, Inc.

Negatives

• NA

Risks

• NA

Future Outlook

NA

Management Comments

• 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 Rule 14a-11.

Industry Context

This filing is a routine disclosure of beneficial ownership by an investment group, common in the financial industry. It does not provide specific insights into broader industry trends for SHF Holdings, Inc. beyond indicating continued institutional interest.

Stakeholder Impact

• Shareholders: Provides transparency regarding significant passive institutional ownership, which can be a factor in assessing investor confidence and liquidity.
• Management: Awareness of a passive institutional investor holding a notable stake.

Key Dates

Keywords

SHF Holdings Inc., M3 Funds LLC, M3 Partners LP, M3F Inc., Jason A. Stock, William C. Waller, Beneficial Ownership, Common Stock, Schedule 13G, Passive Investment, Institutional Ownership