In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 13, 2025), Edenbrook Capital, LLC reported 5 stock positions worth $196.7 million . Its top holding was Frequency Electronics (FEIM) at 32.3% of the portfolio, followed by Cognyte Software (CGNT, 29.1% ) and Magnite (MGNI, 23.4% ). Compared with Q2 2025, it added to 2 and reduced 1. The biggest buy was Cognyte Software (CGNT, shares +1% ) and the biggest sale Magnite (MGNI, shares −42% ).
Location Mt. Kisco, NY
CIK 0001666682
Portfolio Value $196.7M (Q3 2025) Holdings 5 stocks · $196.7M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2025 FEIM Frequency Electronics Inc. 1,873,810 $63.5M No change CGNT Cognyte Software Ltd. 6,811,979 $57.2M Add +1.1% MGNI Magnite Inc. 2,110,370 $46.0M Reduce -41.5% MCHX Marchex Inc. Class B 14,664,380 $26.5M No change THRM Gentherm Inc. 103,315 $3.5M Add +3.3%
Options reported separately and not counted above: HYG puts ($101.5M), QQQ puts ($90.1M), SPY puts ($57.3M), IWM puts ($48.4M), XLY puts ($35.9M), ARKK puts ($18.1M), XLP puts ($11.8M), KRE puts ($6.3M), XRT puts ($5.2M), CGNT calls ($3.8M), IBIT puts ($3.3M), EWZ puts ($3.1M), and 2 more.
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ MGNI Magnite Inc. Reduce -41.5% 23.36% −15.02
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ CGNT Cognyte Software Ltd. Add +1.1% 29.09% +1.64 THRM Gentherm Inc. Add +3.3% 1.79% +0.54
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Add +98.4% 1,250,000 $101.5M QQQ Invesco QQQ Trust Series 1 put Add +150.0% 150,000 $90.1M SPY SS SPDR S&P 500 ETF Trust-US put Add +43.3% 86,000 $57.3M IWM iShares Russell 2000 ETF put Add +11.1% 200,000 $48.4M XLY SS Consumer Disc Select Sect put Add +114.3% 150,000 $35.9M TLT iShares 20+ Year Treasury BD call Sold out 220,000 $19.4Mbefore exit ARKK ARK Innovation ETF put Add +110.0% 210,000 $18.1M XLP SS Consumer Staples Sel Sect put Add +25.0% 150,000 $11.8M KRE SS SPDR S&P Regional Bank put New 100,000 $6.3M FEZ State Street SPDR Euro Stoxx put Sold out 100,000 $6.0Mbefore exit XRT SS SPDR S&P Retail ETF put New 60,000 $5.2M ARCC Ares Capital Corp. put Sold out 200,000 $4.4Mbefore exit BKLN Invesco Senior Loan ETF put Sold out 200,000 $4.2Mbefore exit CGNT Cognyte Software Ltd. call Add +125.0% 450,000 $3.8M EWZ iShares MSCI Brazil ETF put New 100,000 $3.1M ALLY Ally Financial Inc. put New 60,000 $2.4M AAPL Apple Inc. put Sold out 10,000 $2.1Mbefore exit XLE SS Energy Select Sector call Sold out 20,000 $1.7Mbefore exit XLE SS Energy Select Sector put Sold out 20,000 $1.7Mbefore exit VIXM Proshares Vix Mid-Term Fut call Sold out 50,000 $838Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 6 $286.1M FEIM, MGNI, CGNT, MCHX, DV Q1 2026 4 $195.6M FEIM, CGNT, MGNI, MCHX Q4 2025 5 $236.9M FEIM, CGNT, MGNI, MCHX, THRM Q3 2025 5 $196.7M FEIM, CGNT, MGNI, MCHX, THRM Q2 2025 5 $226.8M MGNI, CGNT, FEIM, MCHX, THRM Q1 2025 5 $165.1M CGNT, MGNI, FEIM, MCHX, PHX Q4 2024 6 $209.6M CGNT, MGNI, FEIM, BCOV, MCHX Q3 2024 8 $169.3M MGNI, CGNT, MCHX, FEIM, BCOV Q2 2024 8 $180.0M MGNI, CGNT, MCHX, FEIM, BCOV Q1 2024 8 $194.3M MGNI, CGNT, FEIM, MCHX, BCOV