GARNET EQUITY CAPITAL HOLDINGS, INC.

NEW YORK, NY · CIK 1423876 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2013 · corporation

Assets managed$339.5m
Staff7 · 4 in investment roles
Main clients (by assets)Private funds 100%
Private funds1 (1 hedge) · $339.5m gross assets
Form ADV · 2026-02-24SEC adviser record

Legal entityGARNET EQUITY CAPITAL HOLDINGS, INC. (US)

$223.3m reported value +26.9% vs Q1 2026

25positions

75.1%in top 10

6 new 5 added 5 reduced 0 sold out vs Q1 2026

Options: 2 call positions ($8.6m notional), 2 put positions ($298.1m notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TALEN ENERGY CORP COM TLN	TLN	64,537	$24.8m11.10%	11.10%	Unchanged
2	FTAI AVIATION LTD SHS FTAI	FTAI	90,028	$24.4m10.91%	10.91%	Unchanged
3	GROUPON INC COM NEW GRPN	GRPN	970,776	$23.4m10.46%	10.46%	Added +12.1k	+12,116 1.3%
4	TURTLE BEACH CORP COM NEW TBCH	TBCH	1,506,759	$18.8m8.40%	8.40%	Reduced -7.2k	-7,200 -0.5%
5	ANTERIX INC COM ATEX	ATEX	156,119	$16.1m7.20%	7.20%	Reduced -187.4k	-187,377 -54.5%
6	ESTABLISHMENT LABS HLDGS INC COM ESTA	ESTA	170,490	$14.6m6.55%	6.55%	Reduced -94.0k	-93,952 -35.5%
7	NETGEAR INC COM NTGR	NTGR	516,701	$12.1m5.40%	5.40%	Reduced -103.9k	-103,911 -16.7%
8	GOLAR LNG LTD SHS GLNG	GLNG	234,504	$11.7m5.23%	5.23%	Added +15.0k	+15,000 6.8%
9	HALLADOR ENERGY COMPANY COM HNRG	HNRG	633,895	$11.0m4.94%	4.94%	Added +201.4k	+201,421 46.6%
10	SONIDA SENIOR LIVING INC COM SNDA	SNDA	269,368	$11.0m4.92%	4.92%	Added +77.4k	+77,440 40.4%
11	FTAI INFRASTRUCTURE INC COMMON STOCK FIP	FIP	2,164,177	$10.0m4.50%	4.50%	Added +205.5k	+205,458 10.5%
12	A2Z CUST2MATE SOLUTIONS CORP COM AZ	AZ	1,505,598	$8.8m3.92%	3.92%	Unchanged
13	CAMECO CORP COM CCJ	CCJ	75,594	$7.7m3.45%	3.45%	Unchanged
14	NEXTNAV INC COMMON STOCK NN	NN	250,000	$4.5m2.00%	2.00%	New
15	GEO GROUP INC NEW COM GEO	GEO	150,546	$4.4m1.99%	1.99%	New
16	SUNCRETE INC COM SHS CL A RMIX	RMIX	149,190	$3.4m1.51%	1.51%	New
17	CALUMET INC COM CLMT	CLMT	80,746	$2.9m1.30%	1.30%	Reduced -20.0k	-20,000 -19.9%
18	CORECIVIC INC COM CXW	CXW	90,577	$2.8m1.23%	1.23%	New
19	KRATOS DEFENSE & SEC SOLUTIO COM NEW KTOS	KTOS	45,000	$2.2m1.00%	1.00%	New
20	SPROTT FDS TR URANIUM MINERS E URNM	URNM	39,686	$2.1m0.93%	0.93%	Unchanged
21	NEXGEN ENERGY LTD COM NXE	NXE	220,000	$2.1m0.92%	0.92%	Unchanged
22	ECHOSTAR CORP CL A ECHO	ECHO	20,000	$2.0m0.91%	0.91%	New
23	MATCH GROUP INC NEW COM MTCH	MTCH	29,704	$1.1m0.51%	0.51%	Unchanged
24	URANIUM ENERGY CORP COM UEC	UEC	85,000	$906.1k0.41%	0.41%	Unchanged
25	NEW FORTRESS ENERGY INC COM CL A COM CL A		1,945,617	$706.5k0.32%	0.32%	Unchanged

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
INVESCO QQQ TR QQQ · Put	QQQ	Put	400,000	$294.6m400.0k shares	New
GOLAR LNG LTD GLNG · Call	GLNG	Call	100,000	$5.0m100.0k shares	New
NEXTNAV INC NN · Call	NN	Call	200,000	$3.6m200.0k shares	New
NEXTNAV INC NN · Put	NN	Put	200,000	$3.6m200.0k shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
TURTLE BEACH CORP TBCH · 13G · filed 2025-08-14	TBCH	8.2%≈ $20.1m	-0.5 pts	13G	2025-08-14