# EDGAR Filing Document

**Accession Number:** 0001423876
**File Stem:** 0001423876-25-000014
**Filing Date:** 2025-11
**Character Count:** 6751
**Document Hash:** c131c010d5f1ca0c2be3c2098bd40278
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001423876-25-000014.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001423876-25-000014

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**EFFECTIVENESS DATE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GARNET EQUITY CAPITAL HOLDINGS, INC.
- **CENTRAL INDEX KEY:** 0001423876

**ORGANIZATION NAME:**
- **EIN:** 133755685
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12687
- **FILM NUMBER:** 251483061

**BUSINESS ADDRESS:**
- **STREET 1:** 575 MADISON AVENUE
- **STREET 2:** SUITE 1601
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** (212) 755-7577

**MAIL ADDRESS:**
- **STREET 1:** 575 MADISON AVENUE
- **STREET 2:** SUITE 1601
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GARNET CAPITAL HOLDINGS, INC.
- **DATE OF NAME CHANGE:** 20080114

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** GARNET EQUITY CAPITAL HOLDINGS INC.<br>**Address:** 575 MADISON AVENUE<br>SUITE 1601<br>NEW YORK, NY 10022

**Form 13F File Number:** 028-12687

**CRD Number (if applicable):** 000161948

**SEC File Number (if applicable):** 801-78064

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Joseph A. Cohen<br>**Title:** President<br>**Phone:** 212-755-7577

**Signature, Place, and Date of Signing:**

Joseph A. Cohen  New York, NY  11-14-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 28

**Form 13F Information Table Value Total:** $268964506

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

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|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| A2Z CUST2MATE SOLUTIONS CORP | COM | 002205102 |  | 8253870 | 1033025 | SH |  | SOLE |  | 1033025 | 0 | 0 |
| A2Z CUST2MATE SOLUTIONS CORP | COM | 002205102 |  | 412284 | 51600 | SH | Call | SOLE |  | 51600 | 0 | 0 |
| ANTERIX INC | COM | 03676C100 |  | 8532071 | 397395 | SH |  | SOLE |  | 397395 | 0 | 0 |
| BARNES  NOBLE ED INC | COM NEW | 06777U200 |  | 1745230 | 175400 | SH | Call | SOLE |  | 175400 | 0 | 0 |
| BGC GROUP INC | CL A | 088929104 |  | 2552213 | 269790 | SH |  | SOLE |  | 269790 | 0 | 0 |
| CALUMET INC | COM | 131428104 |  | 6970806 | 381962 | SH |  | SOLE |  | 381962 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 6347699 | 75694 | SH |  | SOLE |  | 75694 | 0 | 0 |
| COGENT COMMUNICATIONS HLDGS | COM NEW | 19239V302 |  | 3835000 | 100000 | SH | Call | SOLE |  | 100000 | 0 | 0 |
| ESTABLISHMENT LABS HLDGS INC | COM | G31249108 |  | 9228612 | 225143 | SH |  | SOLE |  | 225143 | 0 | 0 |
| FTAI AVIATION LTD | SHS | G3730V105 |  | 22864492 | 137028 | SH |  | SOLE |  | 137028 | 0 | 0 |
| FTAI INFRASTRUCTURE INC | COMMON STOCK | 35953C106 |  | 6918247 | 1586754 | SH |  | SOLE |  | 1586754 | 0 | 0 |
| FTAI INFRASTRUCTURE INC | COMMON STOCK | 35953C106 |  | 2180000 | 500000 | SH | Call | SOLE |  | 500000 | 0 | 0 |
| GOLAR LNG LTD | SHS | G9456A100 |  | 15537807 | 384504 | SH |  | SOLE |  | 384504 | 0 | 0 |
| GROUPON INC | COM NEW | 399473206 |  | 21450711 | 918660 | SH |  | SOLE |  | 918660 | 0 | 0 |
| HALLADOR ENERGY COMPANY | COM | 40609P105 |  | 5869043 | 299900 | SH |  | SOLE |  | 299900 | 0 | 0 |
| HALLADOR ENERGY COMPANY | COM | 40609P105 |  | 4892500 | 250000 | SH | Call | SOLE |  | 250000 | 0 | 0 |
| KRATOS DEFENSE  SEC SOLUTIO | COM NEW | 50077B207 |  | 29613017 | 324100 | SH |  | SOLE |  | 324100 | 0 | 0 |
| NETGEAR INC | COM | 64111Q104 |  | 15278687 | 471710 | SH |  | SOLE |  | 471710 | 0 | 0 |
| NEW FORTRESS ENERGY INC | COM CL A | 644393100 |  | 2310814 | 1045617 | SH |  | SOLE |  | 1045617 | 0 | 0 |
| NEXGEN ENERGY LTD | COM | 65340P106 |  | 2656450 | 296810 | SH |  | SOLE |  | 296810 | 0 | 0 |
| SABLE OFFSHORE CORP | COM SHS | 78574H104 |  | 3629777 | 207891 | SH |  | SOLE |  | 207891 | 0 | 0 |
| SABLE OFFSHORE CORP | COM SHS | 78574H104 |  | 27936000 | 1600000 | SH | Call | SOLE |  | 1600000 | 0 | 0 |
| SPROTT FDS TR | URANIUM MINERS E | 85208P303 |  | 2398225 | 39686 | SH |  | SOLE |  | 39686 | 0 | 0 |
| TALEN ENERGY CORP | COM | 87422Q109 |  | 27452749 | 64537 | SH |  | SOLE |  | 64537 | 0 | 0 |
| TURTLE BEACH CORP | COM NEW | 900450206 |  | 25480513 | 1602548 | SH |  | SOLE |  | 1602548 | 0 | 0 |
| URANIUM ENERGY CORP | COM | 916896103 |  | 1338015 | 100301 | SH |  | SOLE |  | 100301 | 0 | 0 |
| VIVID SEATS INC | COM CL A | 92854T209 |  | 1265281 | 76130 | SH |  | SOLE |  | 76130 | 0 | 0 |
| XPONENTIAL FITNESS INC | COM CL A | 98422X101 |  | 2014393 | 258587 | SH |  | SOLE |  | 258587 | 0 | 0 |

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