GameSquare: Blue & Silver stake falls to about 4.46%

The percentage change followed GameSquare’s issuance of 5,439,416 shares in connection with the closing of transactions under a Contribution Agreement.

Available on EDGAR 11/04/2026 - 09:01 AM EST Accepted by SEC EDGAR 11/04/2026 - 09:00 AM EST Learn about SEC filing dates

Rhea-AI Filing Summary

GameSquare Holdings, Inc. reports that Blue & Silver Ventures, Ltd. beneficially owned 810,322 shares, or approximately 4.46%, as of October 26, 2026, below the 5% threshold. The position consisted of 768,452 shares held directly and 41,870 shares issuable upon exercise of warrants.

The percentage decrease resulted from GameSquare’s issuance of 5,439,416 shares on October 26, 2026, in connection with the closing of transactions under the Contribution Agreement. Blue & Silver reported no transactions in GameSquare common stock during the past 60 days.

Key Figures

Beneficially owned shares: 810,322 shares Directly held shares: 768,452 shares Shares issuable upon warrant exercise: 41,870 shares +3 more

6 metrics

Beneficially owned shares 810,322 shares As of October 26, 2026

Directly held shares 768,452 shares Blue & Silver Ventures’ holdings as of October 26, 2026

Shares issuable upon warrant exercise 41,870 shares Blue & Silver Ventures’ holdings as of October 26, 2026

Beneficial ownership Approximately 4.46% As of October 26, 2026

Shares issued 5,439,416 shares Issued by GameSquare on October 26, 2026 in connection with the Contribution Agreement closing

Common shares outstanding 18,131,385 shares Immediately following the transactions contemplated by the Contribution Agreement on October 26, 2026

Key Terms

beneficially owned, warrants, Rule 13d-3(d)(1)(i), Contribution Agreement

4 terms

beneficially owned regulatory

"Blue & Silver beneficially owned an aggregate of 810,322 shares"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

warrants financial

"41,870 shares of Common Stock issuable upon the exercise of warrants"

Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.

Rule 13d-3(d)(1)(i) regulatory

"calculated in accordance with Rule 13d-3(d)(1)(i)"

Contribution Agreement financial

"transactions contemplated by the Contribution Agreement"

A contribution agreement is a legal contract in which one party transfers assets, business units, intellectual property, cash, or equity to another party or to a joint entity in exchange for payment, shares, or an ownership interest. It matters to investors because it spells out who will own which assets, how the transfer affects the company’s balance sheet and ownership stakes, and which liabilities and promises follow the contributed assets—like a detailed receipt and warranty list for a transaction.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many GAME shares does Blue & Silver Ventures beneficially own?

As of October 26, 2026, Blue & Silver Ventures, Ltd. beneficially owned 810,322 shares of GameSquare common stock, approximately 4.46%. This comprised 768,452 shares held directly and 41,870 shares issuable upon warrant exercise.

Why did Blue & Silver Ventures’ GAME ownership percentage fall below 5%?

The percentage declined after GameSquare issued 5,439,416 common shares on October 26, 2026, in connection with the closing of transactions contemplated by the Contribution Agreement dated September 8, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

GameSquare Holdings, Inc.

(Name of Issuer)

Common Stock, par value $0.0001

(Title of Class of Securities)

36468G202

(CUSIP Number)

Thomas Walker
One Cowboys Way, Suite 100
Frisco, TX, 75034
(972) 497-4900

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/26/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 36468G202

1

Name of reporting person

Blue & Silver Ventures, Ltd.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 810,322.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 810,322.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

810,322.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.46 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

(1) Consists of (i) 768,452 shares of Common Stock held directly by Blue & Silver Ventures, Ltd. ("Blue & Silver") and (ii) 41,870 shares of Common Stock issuable upon the exercise of warrants held by Blue & Silver. The amounts reported herein give effect to the Issuer's 1-for-8 reverse stock split effective August 24, 2026. (2) The percentage of class was calculated based on 18,131,385 shares of Common Stock outstanding immediately following the closing of the transactions contemplated by the Contribution Agreement on October 26, 2026, plus 41,870 shares of Common Stock issuable upon the exercise of warrants held by Blue & Silver, which shares are deemed outstanding for purposes of calculating Blue & Silver's percentage beneficial ownership in accordance with Rule 13d-3(d)(1)(i) under the Act.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.0001
(b)	Name of Issuer: GameSquare Holdings, Inc.
(c)	Address of Issuer's Principal Executive Offices: 6775 Cowboys Way, Ste. 1335, Frisco, TEXAS , 75034.
Item 1 Comment: This Amendment No. 4 ("Amendment No. 4") amends and supplements the statement on Schedule 13D filed on April 21, 2023, as amended by Amendment No. 1 filed on October 23, 2023, Amendment No. 2 filed on April 27, 2026 and Amendment No. 3 filed on May 27, 2026 (as so amended, the "Schedule 13D"), with respect to Blue & Silver Ventures, Ltd. ("Blue & Silver"), relating to the common stock, par value $0.0001 per share (the "Common Stock"), of GameSquare Holdings, Inc., a Delaware corporation (the "Issuer"). This Amendment No. 4 is being filed to reflect a greater than 1% decrease in the percentage of Common Stock beneficially owned by Blue & Silver as a result of an increase in the number of outstanding shares of Common Stock of the Issuer and to report that Blue & Silver has ceased to be the beneficial owner of more than 5% of the outstanding Common Stock. Except as specifically provided herein, this Amendment No. 4 does not modify any of the information previously reported in the Schedule 13D. All capitalized terms used in this Amendment No. 4 and not otherwise defined herein shall have the meanings ascribed to such terms in the Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	The responses of the Reporting Person to rows 7 through 13 on the cover page of this Schedule 13D are incorporated by reference herein. As of October 26, 2026, Blue & Silver beneficially owned an aggregate of 810,322 shares of Common Stock, consisting of (i) 768,452 shares of Common Stock held directly by Blue & Silver and (ii) 41,870 shares of Common Stock issuable upon the exercise of warrants held by Blue & Silver. Such shares represented approximately 4.46% of the outstanding Common Stock, calculated in accordance with Rule 13d-3(d)(1)(i) under the Act based on 18,131,385 shares of Common Stock outstanding immediately following the closing of the transactions contemplated by the Contribution Agreement on October 26, 2026, plus 41,870 shares of Common Stock issuable upon exercise of the warrants held by Blue & Silver. The decrease in Blue & Silver's percentage beneficial ownership resulted from an increase in the number of outstanding shares of Common Stock following the Issuer's issuance of 5,439,416 shares of Common Stock on October 26, 2026 in connection with the closing of the transactions contemplated by that certain Contribution Agreement, dated September 8, 2026, by and among the Issuer and the other parties thereto.
(b)	The responses of the Reporting Person to rows 7 through 13 on the cover page of this Schedule 13D are incorporated by reference herein.
(c)	The Reporting Person has not effected any transactions in the Common Stock during the past 60 days.
(d)	Not applicable.
(e)	On October 26, 2026, Blue & Silver ceased to be the beneficial owner of more than five percent of the outstanding Common Stock as a result of the increase in the number of outstanding shares of Common Stock described in this Item 5.

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.

Blue & Silver Ventures, Ltd.

Signature:	/s/ Thomas Walker
Name/Title:	Thomas Walker, Assistant Treasurer
Date:	11/04/2026