Kontiki Capital reports 5.03% GCI Liberty (GLIBA) Series C ownership in 13G

Rhea-AI Filing Summary

GCI Liberty Inc. received a Schedule 13G from Kontiki Capital entities and Gregard Heje reporting a passive stake in its Series C common stock. The filing states beneficial ownership of 1,796,821 shares, or 5.03% of the class, based on 35,713,233 Series C shares outstanding following the issuer’s rights offering that concluded on December 17, 2025.

The shares are held by two private funds advised by Kontiki Capital Management (HK) Ltd., with control cascading through Kontiki Capital Management (Cayman) Ltd. to Gregard Heje. The filers certify the position was not acquired to change or influence control of GCI Liberty.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

GCI LIBERTY INC

(Name of Issuer)

Series C Common Stock

(Title of Class of Securities)

36164V800

(CUSIP Number)

02/06/2026

(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. 36164V800

1

Names of Reporting Persons

Kontiki Capital Management (HK) Ltd.

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

HONG KONG

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,796,821.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,796,821.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,796,821.00

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)

5.03 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 36164V800

1

Names of Reporting Persons

Kontiki Capital Management (Cayman) Ltd.

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

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,796,821.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,796,821.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,796,821.00

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)

5.03 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 36164V800

1

Names of Reporting Persons

Gregard Heje

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

NORWAY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,796,821.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,796,821.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,796,821.00

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)

5.03 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: GCI LIBERTY INC
(b)	Address of issuer's principal executive offices: 12300 LIBERTY BLVD, ENGLEWOOD, CO 80112
Item 2.
(a)	Name of person filing: Kontiki Capital Management (HK) Ltd. (the "Investment Adviser"), Kontiki Capital Management (Cayman) Ltd. (the " Investment Adviser Parent") and Mr. Gregard Heje (collectively, the "Filing Persons").
(b)	Address or principal business office or, if none, residence: For the Investment Adviser and Mr. Gregard Heje: SUITE 3205-6 & 3207A, ICBC TOWER 3 GARDEN ROAD, CENTRAL Hong Kong, K3 00000 For the Investment Adviser Parent: BOX 309, UGLAND HOUSE GRAND CAYMAN, CAYMAN ISLANDS KY1-1104
(c)	Citizenship: The Investment Adviser is an exempted company incorporated with limited liability under the laws of Hong Kong. The Investment Adviser Parent is a company incorporated in the Cayman Islands. Mr. Gregard Heje is a citizen of Norway.
(d)	Title of class of securities: Series C Common Stock
(e)	CUSIP No.: 36164V800
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: 1,796,821 (the "Shares")
(b)	Percent of class: 5.03%* - *This percentage is based upon 35,713,233 Series C common stock of the Issuer outstanding, which is the total number of Series C common stock of the Issuer following the full subscription of the rights offering which concluded on December 17, 2025, as reported in the Issuer's Prospectus filed with the U.S. Securities and Exchange Commission on November 26, 2025.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,796,821
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,796,821
	(iv) Shared power to dispose or to direct the disposition of: 0
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.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Shares are owned directly by two private funds, which are managed and advised by the Investment Adviser, Kontiki Master Fund and Kontiki Long Only Master Fund (together, the "Private Funds"). The Private Funds own 1,054,842 Shares and 741,979 Shares, respectively. The Investment Adviser may be deemed to be a beneficial owner under Rule 13d-3 of the United States Securities Exchange Act of 1934, as amended (the "1934 Act"), of the Shares held by the Private Funds, as, in its capacity as investment adviser of the Private Funds, it has the power to vote and dispose of, or direct the voting and disposition of, the Shares held by the Private Funds. The Investment Adviser is directly controlled by the Investment Adviser Parent. As the owner of the Investment Adviser, the Investment Adviser Parent may be deemed to beneficially own the Shares under Rule 13d-3 of the 1934 Act. The Investment Adviser is indirectly controlled by Mr. Gregard Heje. As the owner of the Investment Adviser Parent, Mr. Gregard Heje may be deemed to beneficially own the Shares under Rule 13d-3 of the 1934 Act.
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.

Kontiki Capital Management (HK) Ltd.

Signature:	/s/ Scott Henderson
Name/Title:	Authorized Signatory
Date:	02/11/2026

Kontiki Capital Management (Cayman) Ltd.

Signature:	/s/ Scott Henderson
Name/Title:	Authorized Signatory
Date:	02/11/2026

Gregard Heje

Signature:	/s/ Gregard Heje
Name/Title:	Gregard Heje
Date:	02/11/2026

Exhibit Information

Joint Filing Agreement dated February 6, 2026, by and among the Investment Adviser, the Investment Adviser Parent and Mr. Gregard Heje.

FAQ

What stake in GCI Liberty (GLIBA) is reported in this Schedule 13G?

The Schedule 13G reports beneficial ownership of 1,796,821 Series C shares of GCI Liberty, representing 5.03% of that class. This percentage is calculated against 35,713,233 Series C shares outstanding following the company’s rights offering that concluded on December 17, 2025.

Who are the reporting persons in the GCI Liberty (GLIBA) Schedule 13G?

The reporting persons are Kontiki Capital Management (HK) Ltd., Kontiki Capital Management (Cayman) Ltd., and Gregard Heje. They are collectively identified as the filing persons and are deemed beneficial owners of the reported GCI Liberty Series C common stock stake.

How are the GCI Liberty (GLIBA) shares held according to the filing?

The filing states the shares are owned directly by two private funds, Kontiki Master Fund and Kontiki Long Only Master Fund, holding 1,054,842 and 741,979 shares respectively. Kontiki Capital Management (HK) Ltd. acts as investment adviser to these private funds.

Is the GCI Liberty (GLIBA) position described as passive or controlling?

The position is described as passive. The signatories certify the securities were not acquired and are not held for the purpose of changing or influencing control of GCI Liberty, other than activities solely in connection with a nomination under the referenced SEC rule.

What voting and dispositive power is reported over GCI Liberty (GLIBA) shares?

Each reporting person lists 1,796,821 shares with sole voting power and sole dispositive power, and zero shares with shared voting or shared dispositive power. This means decisions to vote or sell the reported shares are controlled on a sole, rather than shared, basis.

How was the 5.03% ownership in GCI Liberty (GLIBA) calculated?

The 5.03% ownership is based on 35,713,233 Series C common shares of GCI Liberty outstanding. That figure reflects the total Series C shares following full subscription of the rights offering that concluded on December 17, 2025, as described in the company’s prospectus.