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GARNET EQUITY CAPITAL HOLDINGS, INC.

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13F filer, CIK 1423876, NEW YORK, NY

GARNET EQUITY CAPITAL HOLDINGS, INC. reported $763,800,529 across 26 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 83.12% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001423876-26-000004

Period
2025-12-31
Reported value
$764M
Holdings
26
Top 10 weight
83.12%
New
3
Sold out
5

Largest buys vs the previous quarter

SecurityShares changeApprox. value
AZadded+462,573$3.01M
FIPadded+376,100$1.73M
NTGRadded+50,000$1.23M
HNRGadded+57,940$1.1M
NFEadded+900,000$1.03M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CLMTreduced-270,216-$5.37M
KTOSreduced-48,600-$3.69M
FTAIreduced-18,000-$3.54M
BGCexited-269,790-$2.55M
XPOFexited-258,587-$2.01M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001423876-26-000004, largest first. % of portfolio is the value over $200,987,086, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 80,600 shares; 2024Q4: 75,600 shares; 2025Q1: 64,537 shares; 2025Q2: 64,537 shares; 2025Q3: 64,537 shares; 2025Q4: 64,537 shares 64,537$24.2M12.04%0Timeline
FTAIFTAI AVIATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 88,000 shares; 2025Q2: 128,000 shares; 2025Q3: 137,028 shares; 2025Q4: 119,028 shares 119,028$23.4M11.66%-18,000Timeline
TBCHTURTLE BEACH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,085,526 shares; 2024Q4: 1,172,367 shares; 2025Q1: 1,443,218 shares; 2025Q2: 1,634,685 shares; 2025Q3: 1,602,548 shares; 2025Q4: 1,513,959 shares 1,513,959$21.2M10.57%-88,589Timeline
KTOSKRATOS DEFENSE & SEC SOLUTIOQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 338,500 shares; 2024Q4: 304,650 shares; 2025Q1: 251,000 shares; 2025Q2: 326,000 shares; 2025Q3: 324,100 shares; 2025Q4: 275,500 shares 275,500$20.9M10.41%-48,600Timeline
GRPNGROUPON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,195,976 shares; 2024Q4: 1,999,812 shares; 2025Q1: 1,649,705 shares; 2025Q2: 888,660 shares; 2025Q3: 918,660 shares; 2025Q4: 958,660 shares 958,660$16.9M8.4%+40,000Timeline
ESTAESTABLISHMENT LABS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 165,339 shares; 2025Q3: 225,143 shares; 2025Q4: 199,138 shares 199,138$14.5M7.22%-26,005Timeline
GLNGGOLAR LNG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 328,500 shares; 2024Q4: 328,500 shares; 2025Q1: 355,055 shares; 2025Q2: 400,055 shares; 2025Q3: 384,504 shares; 2025Q4: 384,504 shares 384,504$14.3M7.12%0Timeline
NTGRNETGEAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 272,033 shares; 2024Q4: 322,417 shares; 2025Q1: 388,917 shares; 2025Q2: 428,917 shares; 2025Q3: 471,710 shares; 2025Q4: 521,710 shares 521,710$12.8M6.37%+50,000Timeline
AZA2Z CUST2MATE SOLUTIONS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 300,000 shares; 2025Q1: 600,000 shares; 2025Q2: 790,000 shares; 2025Q3: 1,033,025 shares; 2025Q4: 1,495,598 shares 1,495,598$9.74M4.84%+462,573Timeline
FIPFTAI INFRASTRUCTURE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 776,832 shares; 2025Q3: 1,586,754 shares; 2025Q4: 1,962,854 shares 1,962,854$9.05M4.5%+376,100Timeline
ATEXANTERIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 291,702 shares; 2024Q4: 388,829 shares; 2025Q1: 387,395 shares; 2025Q2: 397,395 shares; 2025Q3: 397,395 shares; 2025Q4: 397,395 shares 397,395$8.68M4.32%0Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 231,350 shares; 2024Q4: 181,350 shares; 2025Q1: 160,694 shares; 2025Q2: 75,694 shares; 2025Q3: 75,694 shares; 2025Q4: 75,694 shares 75,694$6.93M3.45%0Timeline
HNRGHALLADOR ENERGY COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 310,393 shares; 2025Q2: 339,825 shares; 2025Q3: 299,900 shares; 2025Q4: 357,840 shares 357,840$6.81M3.39%+57,940Timeline
NXENEXGEN ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 500,000 shares; 2025Q1: 500,000 shares; 2025Q2: 400,000 shares; 2025Q3: 296,810 shares; 2025Q4: 250,000 shares 250,000$2.3M1.14%-46,810Timeline
CLMTCALUMET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 363,589 shares; 2024Q4: 455,589 shares; 2025Q1: 710,543 shares; 2025Q2: 610,543 shares; 2025Q3: 381,962 shares; 2025Q4: 111,746 shares 111,746$2.22M1.1%-270,216Timeline
NFENEW FORTRESS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,045,617 shares; 2025Q4: 1,945,617 shares 1,945,617$2.22M1.1%+900,000Timeline
URNMSPROTT FDS TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 264,517 shares; 2024Q4: 201,750 shares; 2025Q1: 200,860 shares; 2025Q2: 130,860 shares; 2025Q3: 39,686 shares; 2025Q4: 39,686 shares 39,686$2.18M1.08%0Timeline
SOCSABLE OFFSHORE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 220,400 shares; 2025Q1: 270,400 shares; 2025Q2: 533,061 shares; 2025Q3: 207,891 shares; 2025Q4: 157,891 shares 157,891$1.42M0.71%-50,000Timeline
UECURANIUM ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: 250,000 shares; 2025Q1: 250,000 shares; 2025Q2: 150,000 shares; 2025Q3: 100,301 shares; 2025Q4: 100,301 shares 100,301$1.17M0.58%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
SPYSTATE STR SPDR S&P 500 ETF T SHScall800,000$546Mnew
FTAIFTAI AVIATION LTD Stockcall40,000$7.87Mnew
DBRGDIGITALBRIDGE GROUP INC CL A NEWcall200,000$3.07Mnew
SOCSABLE OFFSHORE CORP COM SHScall300,000$2.71M-1,300,000
CCOICOGENT COMM HOLDINGS INC COM NEWcall100,000$2.16M0
FIPFTAI INFRASTRUCTURE INC COMMON STOCKcall250,000$1.15M-250,000
AZA2Z CUST2MATE SOLUTIONS CORP COMcall49,300$321K-2,300

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
HNRGHALLADOR ENERGY COMPANY250,000$4.89Mcall
BGCBGC GROUP INC269,790$2.55Mshares
XPOFXPONENTIAL FITNESS INC258,587$2.01Mshares
BNEDBARNES & NOBLE ED INC175,400$1.75Mcall
SEATVIVID SEATS INC76,130$1.27Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001423876-26-000004 base2026-02-17acceptance time not in the bulk data set