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Liqtech International

LIQT on Nasdaq. Market value $14m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

Nothing stands out yet.

What to watch out for

Read the warning sign in its own filings

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 27 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

5 investors own more than 5%.

  • Bleichroeder LP
    Passive investor
    at least 20.9%−12.8 pts
    (filed with 2 related holders)
    Since 5 June 2026
    What they said

    Item 4 to Schedule 13D is hereby amended to include the following: The disclosure under Item 3 in this Amendment is incorporated herein by reference.

    Read the filing
  • LYTTON LAURENCE W
    Passive investor
    at least 10.0%0.0 pts
    (filed with 1 related holder)
    Since 30 June 2026
  • Marathon Micro Fund, LP
    Passive investor
    9.1%
    Since 10 June 2026
  • Andrews Ben
    Passive investor
    9.0%
    Since 31 December 2024
  • at least 6.7%
    (filed with 2 related holders)
    Since 30 June 2026

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 1 insider bought $50,000 of shares on the open market.

  • Wowk Robert
    Director
    Bought
    Date
    5 June 2026
    Shares
    50,000
    Price
    $1.00
    Value
    $50,000

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

1 serious warning sign in Liqtech International’s filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 27 Feb 2026, plus the 10-Q filed 12 Aug 2026 and 5 later 8-Ks.

  • Weak checks on its own accounts

    Serious

    The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

    “Based upon that evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that our disclosure controls and procedures as of June 30, 2026 were not effective as of the period covered by this Quarterly Report due to material weaknesses in internal controls over financial reporting.”
    Show the full paragraph
    Based upon that evaluation, our Chief Executive Officer and our Chief Financial Officer concluded that our disclosure controls and procedures as of June 30, 2026 were not effective as of the period covered by this Quarterly Report due to material weaknesses in internal controls over financial reporting. For more information on material weaknesses identified by management, please refer to our Form 10-K filed on February 27, 2026 for the year ended December 31, 2025 .

    From the 10-Q filed 12 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.