SNWVNasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31
SANUWAVE Health, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 6, 2026
$4.83−0.13 (-2.62%)
Close on Oct 19, 2026
- Market cap
- $41.54M
- P/E (TTM)
- 11.8
- Dividend yield
- –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
37.3%
3M of 9M shares
Institutional holders
50
12 new, 24 sold out
Net institutional buying
-1M
In Q2 2026
Insider trades, 12 months
0 buys · 21 sales
Net sold $11.65M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Manchester Management Co LLC | 947,979 | 11.10% | 13D (active) amendment | Dec 8, 2025 |
| James E. Besser | 929,979 | 10.80% | 13D (active) amendment | Dec 11, 2025 |
| Frederick Tucker Golden | 610,968 | 7.10% | 13G (passive) amendment | Jun 30, 2026 |
| AWM Investment Company, Inc. | 513,230 | 6.00% | 13G (passive) amendment | May 9, 2025 |
| Solas Capital Management, LLC | 121,142,237 | 9.90% | 13G (passive) | Sep 30, 2024 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of SNWV | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Solas Capital Management, LLC | 610,968 | 7.10% | $6.11M | +323,454 | 3.27% |
| AWM Investment Company, Inc. | 454,550 | 5.28% | $4.55M | – | 0.39% |
| Praetorian PR LLC | 395,000 | 4.59% | $3.95M | +45,000 | 1.26% |
| Vanguard Capital Management LLC | 352,756 | 4.10% | $3.53M | +3,882 | 0.00% |
| Opaleye Management Inc. | 306,140 | 3.56% | $3.06M | −675,127 | 0.28% |
| UBS Group AG | 256,791 | 2.99% | $2.57M | +46,528 | 0.00% |
| BlackRock, Inc. | 159,867 | 1.86% | $1.60M | −321,673 | 0.00% |
| Geode Capital Management, LLC | 86,098 | 1.00% | $861.39K | −85,700 | 0.00% |
| Citadel Advisors LLC | 59,473 | 0.69% | $594.73K | +41,375 | 0.00% |
| Vanguard Fiduciary Trust Co | 43,097 | 0.50% | $430.97K | −6,184 | 0.00% |
| Marshall Wace, Llp | 42,125 | 0.49% | $421.25K | New | 0.00% |
| Goldman Sachs Group Inc | 40,426 | 0.47% | $404.26K | +1,921 | 0.00% |
| JPMorgan Chase & Co | 39,697 | 0.46% | $391.02K | +36,649 | 0.00% |
| Stonebridge Wealth Management, LLC | 38,434 | 0.45% | $384.34K | +1,250 | 0.34% |
| Luxor Capital Group, LP | 37,200 | 0.43% | $372.00K | New | 0.01% |
| State Street Corp | 32,282 | 0.38% | $322.82K | −107,807 | 0.00% |
| Morgan Stanley | 31,619 | 0.37% | $316.19K | +25,826 | 0.00% |
| Jane Street Group, LLC | 23,847 | 0.28% | $238.47K | New | 0.00% |
| Aqr Capital Management LLC | 22,908 | 0.27% | $229.08K | New | 0.00% |
| XTX Topco Ltd | 21,834 | 0.25% | $218.34K | +7,153 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 50 | 3M | 37.3% | 12 / 14 | 15 / 24 | 1M | 2M |
| Q1 2026 | 63 | 4M | 48.4% | 16 / 20 | 13 / 11 | 1M | 0M |
| Q4 2025 | 59 | 4M | 45.2% | 10 / 21 | 18 / 10 | 1M | 0M |
| Q3 2025 | 59 | 3M | 39.4% | 15 / 17 | 13 / 2 | 0M | 0M |
| Q2 2025 | 46 | 3M | 37.5% | 34 / 3 | 6 / 7 | 1M | 1M |
| Q1 2025 | 19 | 3M | 29.1% | 18 / 0 | 0 / 0 | 3M | 0M |
| Q4 2024 | 1 | 0M | 0.0% | 1 / 0 | 0 / 0 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
| Fund | Shares | % of SNWV | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 264,933 | 3.08% | $2.65M | 0.00% | Jun 30, 2026 |
| Vanguard Extended Market Index Fund | 78,885 | 0.92% | $788.85K | 0.00% | Jun 30, 2026 |
| Vanguard Russell 2000 Index Fund | 38,422 | 0.45% | $632.81K | 0.00% | May 31, 2026 |
| Fidelity Extended Market Index Fund | 36,377 | 0.42% | $599.13K | 0.00% | May 31, 2026 |
| iShares Micro-Cap ETF | 26,001 | 0.30% | $260.01K | 0.02% | Jun 30, 2026 |
| Fidelity Total Market Index Fund | 13,580 | 0.16% | $223.66K | 0.00% | May 31, 2026 |
| Fidelity Series Total Market Index Fund | 10,764 | 0.13% | $177.28K | 0.00% | May 31, 2026 |
| Ultra-Small Company Market Fund | 10,000 | 0.12% | $100.00K | 0.07% | Jun 30, 2026 |
| Goldman Sachs ActiveBeta(R) U.S. Small Cap Equity ETF | 9,750 | 0.11% | $160.58K | 0.02% | May 31, 2026 |
| Goldman Sachs Absolute Return Tracker Fund | 9,271 | 0.11% | $92.71K | 0.00% | Jun 30, 2026 |
| Vanguard Russell 2000 Growth Index Fund | 7,105 | 0.08% | $117.02K | 0.01% | May 31, 2026 |
| Fidelity Nasdaq Composite Index Fund | 5,459 | 0.06% | $89.91K | 0.00% | May 31, 2026 |
| Vanguard Balanced Index Fund | 4,706 | 0.05% | $47.06K | 0.00% | Jun 30, 2026 |
| Vanguard Institutional Total Stock Market Index Fund | 4,232 | 0.05% | $42.32K | 0.00% | Jun 30, 2026 |
| Fidelity ZERO Total Market Index Fund | 3,564 | 0.04% | $21.99K | 0.00% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Morgan C. Frank | Chief Executive Officer, Director | 120,403,452 | 1399.66% | Jul 2, 2026 |
| David Timothy Wern | Exec VP of Sales | 469 | 0.01% | Feb 3, 2026 |
| Daniel Coyle | Chief Operating Officer | 37 | 0.00% | Oct 6, 2025 |
| Peter Stegagno | Chief Operating Officer | 3,894 | 0.05% | Jun 9, 2025 |
| Iulian Cioanta | Chief Sci. and Tech. Officer | 1,818 | 0.02% | May 16, 2025 |
| Nanci Gilmore | Chief Commercial Officer | – | – | Feb 7, 2025 |
| Peter Sorensen | Chief Financial Officer | – | – | Feb 7, 2025 |
| Timothy Hendricks | Executive VP of Sales | – | – | Oct 23, 2024 |
| Andrew Walko | President | – | – | Oct 23, 2024 |
| Ian D. Miller | Director | 19,349 | 0.22% | Jul 2, 2026 |
| James Tyler | Director | 8,700 | 0.10% | Jul 2, 2026 |
| Jeffrey Blizard | Director | – | – | Jul 2, 2026 |
| Gregory Matthew Bazar | Director | – | – | Jul 2, 2026 |
| Anthony Michael Stolarski | Director | 317,686 | 3.69% | Jun 12, 2025 |
| Management Inc. Opaleye | 10% owner | 858,569 | 9.98% | May 4, 2026 |
| Manchester Management Pr, Llc | – | 929,979 | 10.81% | Dec 15, 2025 |
| Management Co Llc Manchester | – | 865,980 | 10.07% | Dec 15, 2025 |
| Manchester Explorer, L.P. | – | – | – | Dec 15, 2025 |
| James E. Besser | – | 865,980 | 10.07% | Dec 15, 2025 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Management Inc. Opaleye 10% owner | May 1, 2026 | Sale | −500 | $16.11 | $8.06K | 5,000 |
| Management Inc. Opaleye 10% owner | May 1, 2026 | Sale | −10,081 | $16.11 | $162.40K | 853,569 |
| Management Inc. Opaleye 10% owner | Apr 30, 2026 | Sale | −24,000 | $16.15 | $387.60K | 863,650 |
| Management Inc. Opaleye 10% owner | Apr 30, 2026 | Sale | −1,000 | $16.15 | $16.15K | 5,500 |
| Management Inc. Opaleye 10% owner | Apr 29, 2026 | Sale | −23,360 | $17.25 | $402.96K | 887,650 |
| Management Inc. Opaleye 10% owner | Apr 29, 2026 | Sale | −1,000 | $17.25 | $17.25K | 6,500 |
| Management Inc. Opaleye 10% owner | Apr 28, 2026 | Sale | −2,500 | $18.47 | $46.18K | 7,500 |
| Management Inc. Opaleye 10% owner | Apr 28, 2026 | Sale | −43,788 | $18.47 | $808.76K | 911,010 |
| Management Inc. Opaleye 10% owner | Apr 21, 2026 | Sale | −202 | $20.50 | $4.14K | 954,798 |
| Management Inc. Opaleye 10% owner | Apr 17, 2026 | Sale | −11,267 | $20.46 | $230.52K | 955,000 |
| Management Inc. Opaleye 10% owner | Apr 17, 2026 | Sale | −5,000 | $20.46 | $102.30K | 10,000 |
| Manchester Management Pr, Llc – | Dec 12, 2025 | Sale | −6,500 | $21.04 | $136.76K | 63,999 |
| Manchester Management Pr, Llc – | Dec 11, 2025 | Sale | −13,500 | $31.28 | $422.28K | 70,499 |
| James E. Besser – | Dec 10, 2025 | Sale | −8,625 | $30.39 | $262.11K | 863,980 |
| Management Co Llc Manchester – | Dec 10, 2025 | Sale | −8,625 | $30.39 | $262.11K | 863,980 |
| James E. Besser – | Dec 9, 2025 | Sale | −8,785 | $30.58 | $268.65K | 872,605 |
| Management Co Llc Manchester – | Dec 9, 2025 | Sale | −8,785 | $30.58 | $268.65K | 872,605 |
| James E. Besser – | Dec 8, 2025 | Sale | −125,400 | $30.75 | $3.86M | 881,390 |
| James E. Besser – | Dec 8, 2025 | Sale | −2,000 | $31.60 | $63.20K | 2,000 |
| Management Co Llc Manchester – | Dec 8, 2025 | Sale | −125,400 | $30.75 | $3.86M | 881,390 |
| Management Co Llc Manchester – | Dec 8, 2025 | Sale | −2,000 | $31.60 | $63.20K | 2,000 |
| Management Inc. Opaleye 10% owner | Oct 6, 2025 | Buy | +1,267 | $30.28 | $38.36K | 966,267 |
| Peter Stegagno Chief Operating Officer | Jun 5, 2025 | Option exercise | +1,333 | $15.00 | $20.00K | 3,894 |
| Peter Stegagno Chief Operating Officer | Jun 5, 2025 | Sale | −1,862 | $27.71 | $51.60K | 2,032 |
| Peter Stegagno Chief Operating Officer | Jun 5, 2025 | Option exercise | +529 | $22.50 | $11.90K | 2,561 |
| Iulian Cioanta Chief Sci. and Tech. Officer | May 15, 2025 | Option exercise | +1,777 | $14.20 | $25.23K | 1,818 |
| Iulian Cioanta Chief Sci. and Tech. Officer | May 15, 2025 | Option exercise | +529 | $22.50 | $11.90K | 2,347 |
| Iulian Cioanta Chief Sci. and Tech. Officer | May 15, 2025 | Sale | −3,639 | $31.60 | $114.99K | 41 |
| Iulian Cioanta Chief Sci. and Tech. Officer | May 15, 2025 | Option exercise | +1,333 | $15.00 | $20.00K | 3,680 |
| Management Inc. Opaleye 10% owner | Apr 29, 2025 | Buy | +2,998 | $25.49 | $76.42K | 15,000 |
| Management Inc. Opaleye 10% owner | Apr 29, 2025 | Buy | +5,000 | $25.49 | $127.45K | 965,000 |
| Management Inc. Opaleye 10% owner | Nov 1, 2024 | Buy | +8,002 | $15.20 | $121.63K | 12,002 |
| Management Inc. Opaleye 10% owner | Nov 1, 2024 | Buy | +7,998 | $15.20 | $121.57K | 960,000 |
| Management Inc. Opaleye 10% owner | Oct 31, 2024 | Buy | +5,868 | $16.29 | $95.59K | 952,002 |
| Management Inc. Opaleye 10% owner | Oct 31, 2024 | Buy | +4,000 | $16.29 | $65.16K | 4,000 |
| Management Inc. Opaleye 10% owner | Oct 30, 2024 | Buy | +2,000 | $17.50 | $35.00K | 946,134 |
| Anthony Michael Stolarski Director | Oct 18, 2024 | Award | +5,400 | – | – | 317,686 |
| Anthony Michael Stolarski Director | Oct 18, 2024 | Award | +9,000 | – | – | 343,286 |
| Anthony Michael Stolarski Director | Oct 18, 2024 | Award | +11,500 | – | – | 334,286 |
| Anthony Michael Stolarski Director | Oct 18, 2024 | Award | +5,100 | – | – | 322,786 |
| Anthony Michael Stolarski Director | Oct 18, 2024 | Award | +8,500 | – | – | 351,786 |
| Anthony Michael Stolarski Director | Oct 18, 2024 | Award | +76,215 | – | – | 312,286 |
| Anthony Michael Stolarski Director | Oct 18, 2024 | Award | +80,698 | – | – | 236,071 |
| Ian D. Miller Director | Oct 18, 2024 | Award | +2,834 | – | – | 48,426 |
| Ian D. Miller Director | Oct 18, 2024 | Award | +6,300 | – | – | 36,642 |
| Ian D. Miller Director | Oct 18, 2024 | Award | +5,950 | – | – | 42,592 |
| Ian D. Miller Director | Oct 18, 2024 | Award | +3,000 | – | – | 45,592 |
| James Tyler Director | Oct 18, 2024 | Award | +2,550 | – | – | 8,700 |
| James Tyler Director | Oct 18, 2024 | Award | +2,700 | – | – | 6,150 |
| Management Co Llc Manchester – | Oct 18, 2024 | Other | +15,000 | $15.00 | $225.00K | 38,486 |
| Management Co Llc Manchester – | Oct 18, 2024 | Other | +22,667 | $25.13 | $569.62K | 83,999 |
| Management Co Llc Manchester – | Oct 18, 2024 | Other | +24,000 | $15.00 | $360.00K | 61,332 |
| Management Co Llc Manchester – | Oct 18, 2024 | Buy | +181,818 | $8.25 | $1.50M | 1,006,790 |
| Management Co Llc Manchester – | Oct 18, 2024 | Other | +6,375 | $25.13 | $160.20K | 824,971 |
| Management Co Llc Manchester – | Oct 18, 2024 | Other | +42,498 | $25.13 | $1.07M | 818,596 |
| Management Co Llc Manchester – | Oct 18, 2024 | Other | +6,750 | $15.00 | $101.25K | 776,098 |
| Management Co Llc Manchester – | Oct 18, 2024 | Other | +44,998 | $15.00 | $674.97K | 769,348 |
| Management Co Llc Manchester – | Oct 18, 2024 | Conversion | +8,625 | $15.00 | $129.38K | 724,350 |
| Management Co Llc Manchester – | Oct 18, 2024 | Conversion | +57,498 | $15.00 | $862.47K | 715,725 |
| Management Co Llc Manchester – | Oct 18, 2024 | Other | +5,667 | $25.13 | $142.41K | 658,227 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Anthony Michael Stolarski Director | Jun 25, 2025 | 155,373 | $5.06M | Jun 25, 2025 | Convertible Note & Warrants For Common Stock |