Edenbrook Capital, LLC Hedge Fund

CIK: 0001666682 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 13, 2026

Total Value ($000): $536,266 (100.0% shares, 0.0% debt)

Holdings (15)

New Positions (3)

MGNI MAGNITE INC 4.5%

Value ($000) $24,345 Shares 1,500,000 Est. Cost $13.79 Unrealized +20.4%

LQD ISHARES TR 2.1%

Value ($000) $11,019 Shares 100,000 Est. Cost — Unrealized —

TLT ISHARES TR 1.6%

Value ($000) $8,716 Shares 100,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
MGNI	MAGNITE INC	1,500,000	$24,345	4.5%	$13.79	+20.4%	CALL	55955D100
LQD	ISHARES TR	100,000	$11,019	2.1%	—	—	PUT	464287242
TLT	ISHARES TR	100,000	$8,716	1.6%	—	—	CALL	464287432

Increased Positions (5)

SPY SPDR S&P 500 ETF TR 12.7%

Value ($000) $68,192 (+19.0%) Shares 100,000 (+16.3%) Est. Cost — Unrealized —

CGNT COGNYTE SOFTWARE LTD 12.2%

Value ($000) $65,346 (+14.2%) Shares 6,951,671 (+2.1%) Est. Cost $8.06 Unrealized +7.3%

QQQ INVESCO QQQ TR 18.0%

Value ($000) $96,754 (+7.4%) Shares 157,500 (+5.0%) Est. Cost — Unrealized —

CGNT COGNYTE SOFTWARE LTD 1.1%

Value ($000) $5,687 (+50.4%) Shares 605,000 (+34.4%) Est. Cost $8.06 Unrealized +7.3%

MGNI MAGNITE INC 8.4%

Value ($000) $45,250 (-1.6%) Shares 2,788,036 (+32.1%) Est. Cost $13.79 Unrealized +20.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	100,000 (+16.3%)	$68,192 (+19.0%)	12.7%	—	—	PUT	78462F103
CGNT	COGNYTE SOFTWARE LTD	6,951,671 (+2.1%)	$65,346 (+14.2%)	12.2%	$8.06	+7.3%	ORD SHS	M25133105
QQQ	INVESCO QQQ TR	157,500 (+5.0%)	$96,754 (+7.4%)	18.0%	—	—	PUT	46090E103
CGNT	COGNYTE SOFTWARE LTD	605,000 (+34.4%)	$5,687 (+50.4%)	1.1%	$8.06	+7.3%	CALL	M25133105
MGNI	MAGNITE INC	2,788,036 (+32.1%)	$45,250 (-1.6%)	8.4%	$13.79	+20.4%	COM	55955D100

Exited Positions (7)

XLY SELECT SECTOR SPDR TR 6.7%

Value ($000) $35,946 Shares 150,000 Est. Cost — Unrealized —

XLP SELECT SECTOR SPDR TR 2.2%

Value ($000) $11,756 Shares 150,000 Est. Cost — Unrealized —

KRE SPDR SERIES TRUST 1.2%

Value ($000) $6,330 Shares 100,000 Est. Cost — Unrealized —

XRT SPDR SERIES TRUST 1.0%

Value ($000) $5,171 Shares 60,000 Est. Cost — Unrealized —

EWZ ISHARES INC 0.6%

Value ($000) $3,100 Shares 100,000 Est. Cost — Unrealized —

ALLY ALLY FINL INC 0.4%

Value ($000) $2,352 Shares 60,000 Est. Cost — Unrealized —

— EXCHANGE TRADED CONCEPTS TRU 0.4%

Value ($000) $2,006 Shares 80,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
XLY	SELECT SECTOR SPDR TR	150,000	$35,946	6.7%	—	—	PUT	81369Y407
XLP	SELECT SECTOR SPDR TR	150,000	$11,756	2.2%	—	—	PUT	81369Y308
KRE	SPDR SERIES TRUST	100,000	$6,330	1.2%	—	—	PUT	78464A698
XRT	SPDR SERIES TRUST	60,000	$5,171	1.0%	—	—	PUT	78464A714
EWZ	ISHARES INC	100,000	$3,100	0.6%	—	—	PUT	464286400
ALLY	ALLY FINL INC	60,000	$2,352	0.4%	—	—	PUT	02005N100
—	EXCHANGE TRADED CONCEPTS TRU	80,000	$2,006	0.4%	—	—	PUT	301505624

Decreased Positions (4)

HYG ISHARES TR 6.0%

Value ($000) $32,252 (-68.2%) Shares 400,000 (-68.0%) Est. Cost — Unrealized —

IWM ISHARES TR 7.2%

Value ($000) $38,401 (-20.6%) Shares 156,000 (-22.0%) Est. Cost — Unrealized —

ARKK ARK ETF TR 2.2%

Value ($000) $11,538 (-36.3%) Shares 150,000 (-28.6%) Est. Cost — Unrealized —

THRM GENTHERM INC 0.2%

Value ($000) $1,055 (-70.0%) Shares 29,012 (-71.9%) Est. Cost $26.77 Unrealized +34.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES TR	400,000 (-68.0%)	$32,252 (-68.2%)	6.0%	—	—	PUT	464288513
IWM	ISHARES TR	156,000 (-22.0%)	$38,401 (-20.6%)	7.2%	—	—	PUT	464287655
ARKK	ARK ETF TR	150,000 (-28.6%)	$11,538 (-36.3%)	2.2%	—	—	PUT	00214Q104
THRM	GENTHERM INC	29,012 (-71.9%)	$1,055 (-70.0%)	0.2%	$26.77	+34.5%	COM	37253A103

Unchanged Positions (3)

FEIM FREQUENCY ELECTRS INC 18.8%

Value ($000) $100,886 Shares 1,873,810 Est. Cost $8.42 Unrealized +337.1%

MCHX MARCHEX INC 4.5%

Value ($000) $24,343 Shares 14,664,380 Est. Cost $2.82 Unrealized -39.7%

IBIT ISHARES BITCOIN TRUST ETF 0.5%

Value ($000) $2,483 Shares 50,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
FEIM	FREQUENCY ELECTRS INC	1,873,810	$100,886	18.8%	$8.42	+337.1%	COM	358010106
MCHX	MARCHEX INC	14,664,380	$24,343	4.5%	$2.82	-39.7%	CL B	56624R108
IBIT	ISHARES BITCOIN TRUST ETF	50,000	$2,483	0.5%	—	—	PUT	46438F101