11.95% Cheer Holding (CHR) stake disclosed by investor Brueckner

Rhea-AI Filing Summary

Cheer Holding, Inc. disclosed that individual investor Frank Ulrich Brueckner has filed a Schedule 13G for Class A ordinary shares. He reports beneficial ownership of 560,024 Class A shares, representing 11.95% of the Class A share class.

Brueckner has sole voting and dispositive power over all reported shares and no shared power. He certifies that the shares were not acquired to change or influence control of Cheer Holding, indicating a passive investment intent under the Schedule 13G framework.

Insights

Equity Ownership Analyst

Schedule 13G shows a passive 11.95% stake in Cheer Holding.

Frank Ulrich Brueckner reports owning 560,024 Class A ordinary shares of Cheer Holding, Inc., equal to 11.95% of that class. He has sole voting and dispositive power, meaning he alone decides how these shares are voted and whether they are sold.

The filing is made on Schedule 13G, which is generally used for passive holdings. Brueckner certifies the shares were not acquired to change or influence control of the company, aligning with this passive status. The percentage is based on 4,686,199 Class A shares published by the issuer.

This disclosure mainly updates the public float ownership profile by identifying a significant non‑controlling shareholder. Future ownership updates, if any, would typically appear in later beneficial ownership filings by this holder or the company.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Cheer Holding, Inc.

(Name of Issuer)

Class A Ordinary Shares, par value $0.005 per share

(Title of Class of Securities)

G39973121

(CUSIP Number)

01/06/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G39973121

1

Names of Reporting Persons

Brueckner Frank Ulrich

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

GERMANY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 560,024.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 560,024.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

560,024.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

12.0 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Cheer Holding, Inc.
(b)	Address of issuer's principal executive offices: 19F, BLOCK B, XINHUA TECHNOLOGY BUILDING, NO. 8 TUOFANGYING SOUTH RD, JIUXIANQIAO, CHAOYANG DISTRICT, BEIJING, CHINA, 100016
Item 2.
(a)	Name of person filing: Brueckner Frank Ulrich
(b)	Address or principal business office or, if none, residence: Im Hebetal 12 D 07778 Tautenburg Germany
(c)	Citizenship: german
(d)	Title of class of securities: Class A Ordinary Shares, par value $0.005 per share
(e)	CUSIP No.: G39973121
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 560,024 Class A Shares
(b)	Percent of class: The following percentages are based on the total of: (i) 4,686,199 Class A ordinary shares published by CHR Cheer Holding on 12/19/2025 and 01/27/2016 (b) Percent of class A: 11.95%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See Cover Pages Items 5-9
	(ii) Shared power to vote or to direct the vote: See Cover Pages Items 5-9See
	(iii) Sole power to dispose or to direct the disposition of: See Cover Pages Items 5-9
	(iv) Shared power to dispose or to direct the disposition of: See Cover Pages Items 5-9
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Brueckner Frank Ulrich

Signature:	Frank Ulrich Brueckner
Name/Title:	Private Owner
Date:	01/30/2026

FAQ

What does the Schedule 13G filing for Cheer Holding (CHR) disclose?

The Schedule 13G shows that investor Frank Ulrich Brueckner beneficially owns 560,024 Class A shares of Cheer Holding, Inc., representing 11.95% of that share class, and holds sole voting and dispositive power over these shares as of the reported event date.

How large is Frank Ulrich Brueckner’s stake in Cheer Holding (CHR)?

Frank Ulrich Brueckner reports beneficial ownership of 560,024 Class A ordinary shares of Cheer Holding, Inc.. Based on 4,686,199 Class A shares published by the company, this represents approximately 11.95% of the Class A share class, making him a significant shareholder.

Is the Cheer Holding (CHR) 13G filing an active or passive ownership disclosure?

The filing is on Schedule 13G, which is generally used for passive ownership. Brueckner certifies the securities were not acquired and are not held for the purpose of changing or influencing control of Cheer Holding, Inc., consistent with a passive investment intent.

What voting and dispositive powers does the reporting person have in the Cheer Holding (CHR) 13G?

The Schedule 13G states that Frank Ulrich Brueckner has sole voting power and sole dispositive power over all 560,024 Class A shares. It reports no shared voting or shared dispositive power, indicating exclusive authority over how these shares are voted and potentially sold.

When did the ownership event triggering the Cheer Holding (CHR) Schedule 13G occur?

The Schedule 13G identifies 01/06/2026 as the date of event requiring the filing. This date marks when Frank Ulrich Brueckner reached or held the reportable ownership level in Cheer Holding, Inc. Class A ordinary shares that triggered the beneficial ownership disclosure requirement.