Pertento group discloses NETGEAR (NTGR) stake below 5% in 13G/A

Rhea-AI Filing Summary

Pertento Partners LLP and related reporting persons filed an amended Schedule 13G disclosing passive ownership in NETGEAR, Inc. common stock. As of 12/31/2025, Pertento Partners LLP and Eduardo Marques each reported beneficial ownership of 970,277 shares, or 3.4% of NETGEAR’s common stock, while Pertento Master Fund Limited reported 837,691 shares, or 2.9%.

All reported shares are directly owned by advisory clients of Pertento Partners LLP, and no individual client is deemed to own more than 5% of the stock. The filers certify the holdings were not acquired to change or influence control of NETGEAR.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

NETGEAR, Inc.

(Name of Issuer)

Common Stock, $0.001 par value

(Title of Class of Securities)

64111Q104

(CUSIP Number)

12/31/2025

(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. 64111Q104

1

Names of Reporting Persons

Pertento Partners LLP

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

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 970,277.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 970,277.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

970,277.00

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)

3.4 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 64111Q104

1

Names of Reporting Persons

Pertento Master Fund Limited

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 0.00
6	Shared Voting Power 837,691.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 837,691.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

837,691.00

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)

2.9 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 64111Q104

1

Names of Reporting Persons

Eduardo Marques

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

BRAZIL

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 970,277.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 970,277.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

970,277.00

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)

3.4 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: NETGEAR, Inc.
(b)	Address of issuer's principal executive offices: 3553 North First Street, San Jose, California 95134
Item 2.
(a)	Name of person filing: Pertento Partners LLP Pertento Master Fund Limited Eduardo Marques
(b)	Address or principal business office or, if none, residence: Pertento Partners LLP 111 Park Street London W1K7JL United Kingdom Pertento Master Fund Limited 111 Park Street London W1K7JL United Kingdom Eduardo Marques 111 Park Street London W1K7JL United Kingdom
(c)	Citizenship: Pertento Partners LLP - Other - United Kingdom Pertento Master Fund Limited - Cayman Islands Eduardo Marques - Brazil
(d)	Title of class of securities: Common Stock, $0.001 par value
(e)	CUSIP No.: 64111Q104
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: Pertento Partners LLP - 970,277 Pertento Master Fund Limited - 837,691 Eduardo Marques - 970,277
(b)	Percent of class: Pertento Partners LLP - 3.4% Pertento Master Fund Limited - 2.9% Eduardo Marques - 3.4%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Pertento Partners LLP - 0 Pertento Master Fund Limited - 0 Eduardo Marques - 0
	(ii) Shared power to vote or to direct the vote: Pertento Partners LLP - 970,277 Pertento Master Fund Limited - 837,691 Eduardo Marques - 970,277
	(iii) Sole power to dispose or to direct the disposition of: Pertento Partners LLP - 0 Pertento Master Fund Limited - 0 Eduardo Marques - 0
	(iv) Shared power to dispose or to direct the disposition of: Pertento Partners LLP - 970,277 Pertento Master Fund Limited - 837,691 Eduardo Marques - 970,277
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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. All of the securities reported in this Schedule 13G are directly owned by advisory clients of Pertento Partners LLP. None of those advisory clients may be deemed to beneficially own more than 5% of the Common Stock, $0.01 par value.
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.

Pertento Partners LLP

Signature:	/s/ Eduardo Marques
Name/Title:	Eduardo Marques, Managing Partner
Date:	02/11/2026

Pertento Master Fund Limited

Signature:	/s/ Eduardo Marques
Name/Title:	Eduardo Marques, Authorized Person
Date:	02/11/2026

Eduardo Marques

Signature:	/s/ Eduardo Marques
Name/Title:	Eduardo Marques
Date:	02/11/2026

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

Exhibit A - Joint Filing Agreement

FAQ

What ownership in NETGEAR (NTGR) does Pertento report in this Schedule 13G/A?

Pertento Partners LLP and Eduardo Marques each report beneficial ownership of 970,277 NETGEAR shares, or 3.4% of the common stock. Pertento Master Fund Limited reports 837,691 shares, or 2.9% of the class, based on the figures in the filing.

Who are the reporting persons in the NETGEAR (NTGR) Schedule 13G/A amendment?

The reporting persons are Pertento Partners LLP, Pertento Master Fund Limited, and Eduardo Marques. They collectively report shared voting and dispositive power over NETGEAR common shares held for advisory clients, with signatures and certifications provided by Eduardo Marques in multiple reporting capacities.

Are Pertento’s NETGEAR (NTGR) holdings intended to influence control of the company?

The filers certify the NETGEAR securities were not acquired and are not held for the purpose of changing or influencing control of the issuer. They also state the holdings are not in connection with any control-related transaction, other than activities solely tied to a nomination under Rule 14a-11.

How are the NETGEAR (NTGR) shares held that are reported by Pertento?

All NETGEAR shares reported are directly owned by advisory clients of Pertento Partners LLP. The filing states none of those advisory clients may be deemed to beneficially own more than 5% of NETGEAR’s common stock, based on the information provided in the ownership section.

What voting and dispositive power does Pertento have over NETGEAR (NTGR) shares?

The filing reports no sole voting or dispositive power for any reporting person. Pertento Partners LLP and Eduardo Marques each have shared voting and dispositive power over 970,277 NETGEAR shares, while Pertento Master Fund Limited has shared voting and dispositive power over 837,691 shares.

What disclaimers about beneficial ownership are included in the NETGEAR (NTGR) Schedule 13G/A?

Each reporting person disclaims beneficial ownership of the NETGEAR securities except to the extent of their pecuniary interest. The report states it should not be deemed an admission of beneficial ownership for purposes of Section 16 of the Exchange Act or for any other purpose.