Garnet Equity Capital Holdings, Inc. In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Garnet Equity Capital Holdings, Inc. reported 22 stock positions worth $228.0 million . Its top holding was Kratos Defense & Security (KTOS) at 13.0% of the portfolio, followed by Talen Energy (TLN, 12.0% ) and Turtle Beach (TBCH, 11.2% ). Compared with Q2 2025, it opened 2 new positions, sold out of 1, added to 6 and reduced 11. The biggest buy was Ftai Aviation (FTAI, shares +7% ) and the biggest sale Sable Offshore (SOC, shares −61% ).
Location NEW YORK, NY
CIK 0001423876
Portfolio Value $228.0M (Q3 2025) Holdings 22 stocks · $228.0M 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 Q2 2025 KTOS Kratos Defense & Security 324,100 $29.6M Reduce -0.6% TLN Talen Energy Corp. 64,537 $27.5M No change TBCH Turtle Beach Corp. 1,602,548 $25.5M Reduce -2.0% FTAI Ftai Aviation Ltd. 137,028 $22.9M Add +7.0% GRPN Groupon Inc. 918,660 $21.5M Add +3.4% GLNG Golar LNG Ltd. 384,504 $15.5M Reduce -3.9% NTGR Netgear Inc. 471,710 $15.3M Add +10.0% ESTA Establishment Labs Holdings 225,143 $9.2M Add +36.2% ATEX Anterix Inc. 397,395 $8.5M No change AZ A2Z CUST2MATE Solutions Corp. 1,033,025 $8.3M Add +30.8% CLMT Calumet Inc. 381,962 $7.0M Reduce -37.4% FIP Ftai Infrastructure Inc. 1,586,754 $6.9M Add +104.3% CCJ Cameco Corp. 75,694 $6.3M No change HNRG Hallador Energy Co. 299,900 $5.9M Reduce -11.8% SOC Sable Offshore Corp. 207,891 $3.6M Reduce -61.0% NXE Nexgen Energy Ltd. 296,810 $2.7M Reduce -25.8% BGC BGC Group Inc. Class A 269,790 $2.6M Reduce -70.1% URNM Sprott Uranium Miners ETF 39,686 $2.4M Reduce -69.7% NFE New Fortress Energy Inc. 1,045,617 $2.3M New XPOF Xponential Fitness Inc. Class A 258,587 $2.0M New UEC Uranium Energy Corp. 100,301 $1.3M Reduce -33.1% SEAT Vivid Seats Inc. Class A 76,130 $1.3M Reduce -28.3%
Options reported separately and not counted above: SOC calls ($27.9M), HNRG calls ($4.9M), CCOI calls ($3.8M), FIP calls ($2.2M), BNED calls ($1.7M), AZ calls ($412K).
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 ▲ SOC Sable Offshore Corp. Reduce -61.0% 1.59% −3.83 BGC BGC Group Inc. Class A Reduce -70.1% 1.12% −3.16 URNM Sprott Uranium Miners ETF Reduce -69.7% 1.05% −1.85 CLMT Calumet Inc. Reduce -37.4% 3.06% −1.39 SEAT Vivid Seats Inc. Class A Reduce -28.3% 0.56% −1.11 GLNG Golar LNG Ltd. Reduce -3.9% 6.82% −0.81 GEO The Geo Group Inc. Sold out 0.00% −0.22 NXE Nexgen Energy Ltd. Reduce -25.8% 1.17% −0.12 HNRG Hallador Energy Co. Reduce -11.8% 2.57% +0.08 UEC Uranium Energy Corp. Reduce -33.1% 0.59% +0.11 TBCH Turtle Beach Corp. Reduce -2.0% 11.18% +0.71 KTOS Kratos Defense & Security Reduce -0.6% 12.99% +5.98
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 ▼ FTAI Ftai Aviation Ltd. Add +7.0% 10.03% +3.21 NFE New Fortress Energy Inc. New 1.01% +1.01 NTGR Netgear Inc. Add +10.0% 6.70% +0.93 XPOF Xponential Fitness Inc. Class A New 0.88% +0.88 FIP Ftai Infrastructure Inc. Add +104.3% 3.03% +0.82 ESTA Establishment Labs Holdings Add +36.2% 4.05% +0.78 AZ A2Z CUST2MATE Solutions Corp. Add +30.8% 3.62% −0.24 GRPN Groupon Inc. Add +3.4% 9.41% −4.35
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 300,000 $185.4Mbefore exit SOC Sable Offshore Corp. call New 1,600,000 $27.9M GLNG Golar LNG Ltd. call Sold out 200,000 $8.2Mbefore exit NTGR Netgear Inc. call Sold out 175,000 $5.1Mbefore exit CCOI Cogent Communications Holdin call New 100,000 $3.8M BNED Barnes & Noble Education Inc. call New 175,400 $1.7M SEAT Vivid Seats Inc. Class A call Sold out 25,000 $845Kbefore 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 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