Garnet Equity Capital Holdings, Inc. In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Garnet Equity Capital Holdings, Inc. reported 21 stock positions worth $216.0 million . Its top holding was Groupon (GRPN) at 13.8% of the portfolio, followed by Turtle Beach (TBCH, 10.5% ) and Talen Energy (TLN, 8.7% ). Compared with Q1 2025, it opened 4 new positions, sold out of 2, added to 9 and reduced 6. The biggest buy was a new position in Establishment Labs (ESTA) and the biggest sale an exit from KBR (KBR).
Location NEW YORK, NY
CIK 0001423876
Portfolio Value $216.0M (Q2 2025) Holdings 21 stocks · $216.0M 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 Q1 2025 GRPN Groupon Inc. 888,660 $29.7M Reduce -46.1% TBCH Turtle Beach Corp. 1,634,685 $22.6M Add +13.3% TLN Talen Energy Corp. 64,537 $18.8M No change GLNG Golar LNG Ltd. 400,055 $16.5M Add +12.7% KTOS Kratos Defense & Security 326,000 $15.1M Add +29.9% FTAI Ftai Aviation Ltd. 128,000 $14.7M Add +45.5% NTGR Netgear Inc. 428,917 $12.5M Add +10.3% SOC Sable Offshore Corp. 533,061 $11.7M Add +97.1% ATEX Anterix Inc. 397,395 $10.2M Add +2.6% CLMT Calumet Inc. 610,543 $9.6M Reduce -14.1% BGC BGC Group Inc. Class A 903,466 $9.2M No change AZ A2Z CUST2MATE Solutions Corp. 790,000 $8.4M Add +31.7% ESTA Establishment Labs Holdings 165,339 $7.1M New URNM Sprott Uranium Miners ETF 130,860 $6.3M Reduce -34.9% CCJ Cameco Corp. 75,694 $5.6M Reduce -52.9% HNRG Hallador Energy Co. 339,825 $5.4M Add +9.5% FIP Ftai Infrastructure Inc. 776,832 $4.8M New VIVID SEATS INC 2,124,823 $3.6M New NXE Nexgen Energy Ltd. 400,000 $2.8M Reduce -20.0% UEC Uranium Energy Corp. 150,000 $1.0M Reduce -40.0% GEO The Geo Group Inc. 20,000 $479K New
Options reported separately and not counted above: SPY puts ($185.4M), GLNG calls ($8.2M), NTGR calls ($5.1M), HNRG calls ($4.0M), FIP calls ($3.1M), VIVID SEATS INC calls ($845K), AZ calls ($545K).
Portfolio Sells Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ KBR KBR Inc. Sold out 0.00% −5.05 GRPN Groupon Inc. Reduce -46.1% 13.76% −3.63 CCJ Cameco Corp. Reduce -52.9% 2.60% −1.11 AMZN Amazon.com Inc. Sold out 0.00% −0.79 URNM Sprott Uranium Miners ETF Reduce -34.9% 2.90% −0.76 CLMT Calumet Inc. Reduce -14.1% 4.45% −0.61 UEC Uranium Energy Corp. Reduce -40.0% 0.47% −0.20 NXE Nexgen Energy Ltd. Reduce -20.0% 1.28% +0.02
Portfolio Buys Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ ESTA Establishment Labs Holdings New 3.27% +3.27 KTOS Kratos Defense & Security Add +29.9% 7.01% +2.82 FIP Ftai Infrastructure Inc. New 2.22% +2.22 VIVID SEATS INC New 1.66% +1.66 SOC Sable Offshore Corp. Add +97.1% 5.42% +1.57 AZ A2Z CUST2MATE Solutions Corp. Add +31.7% 3.87% +1.49 FTAI Ftai Aviation Ltd. Add +45.5% 6.82% +1.33 NTGR Netgear Inc. Add +10.3% 5.77% +0.43 HNRG Hallador Energy Co. Add +9.5% 2.49% +0.35 GEO The Geo Group Inc. New 0.22% +0.22 GLNG Golar LNG Ltd. Add +12.7% 7.63% +0.05 TBCH Turtle Beach Corp. Add +13.3% 10.47% −1.10 ATEX Anterix Inc. Add +2.6% 4.72% −3.25
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -78.6% 300,000 $185.4M SOC Sable Offshore Corp. call Sold out 600,000 $15.2Mbefore exit GLNG Golar LNG Ltd. call New 200,000 $8.2M NTGR Netgear Inc. call Add +16.7% 175,000 $5.1M TBCH Turtle Beach Corp. call Sold out 300,000 $4.3Mbefore exit HNRG Hallador Energy Co. call Reduce -19.3% 250,000 $4.0M FIP Ftai Infrastructure Inc. call New 500,000 $3.1M VIVID SEATS INC call New 500,000 $845K AZ A2Z CUST2MATE Solutions Corp. call New 51,600 $545K
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 25 $223.3M TLN, FTAI, GRPN, TBCH, ATEX Q1 2026 19 $176.0M FTAI, TLN, TBCH, ESTA, NTGR Q4 2025 19 $201.0M TLN, FTAI, TBCH, KTOS, GRPN Q3 2025 22 $228.0M KTOS, TLN, TBCH, FTAI, GRPN Q2 2025 21 $216.0M GRPN, TBCH, TLN, GLNG, KTOS Q1 2025 19 $178.0M GRPN, TBCH, ATEX, GLNG, TLN Q4 2024 18 $166.4M GRPN, TBCH, TLN, GLNG, ATEX Q3 2024 19 $154.1M TBCH, TLN, BGC, URNM, GLNG Q2 2024 20 $130.3M GRPN, BGC, TBCH, KBR, DBRG Q1 2024 23 $118.0M GRPN, BGC, KBR, TBCH, DBRG