Alyeska caps PSQ Holdings (PSQH) ownership at 9.9% with warrants

Rhea-AI Filing Summary

Alyeska Investment Group and related entities report beneficial ownership of 4,424,571 shares of PSQ Holdings, Inc. Class A common stock, representing 9.9% of the class. The group reports no sole voting or dispositive power and shared power over all reported shares.

Their position includes 3,862,102 shares of common stock, pre-funded warrants to purchase 5,018,184 shares, and additional warrants to purchase 8,522,730 shares, all subject to a 9.9% beneficial ownership cap. As of December 31, 2025, they may exercise warrants for up to 562,469 shares, based on 44,692,639 shares outstanding.

The filers certify the holdings were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of PSQ Holdings.

Insights

Equity ownership and governance analyst

Alyeska discloses a capped 9.9% passive stake in PSQ Holdings.

Alyeska Investment Group, its general partner, and Anand Parekh jointly report beneficial ownership of 4,424,571 PSQ Holdings Class A shares, equal to 9.9% of the class as of December 31, 2025, with only shared voting and dispositive power.

The structure combines 3,862,102 common shares with pre-funded warrants for 5,018,184 shares and other warrants for 8,522,730 shares. A 9.9% beneficial ownership limitation means only 562,469 warrant shares are currently exercisable, calculated against 44,692,639 shares outstanding cited from a December 19, 2025 prospectus.

The certification states the position is held in the ordinary course of business and not to change or influence control. As a passive 9.9% holder with an explicit cap, actual influence will depend on future ownership levels within that limit and any later amendments.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

PSQ Holdings, Inc.

(Name of Issuer)

Class A common stock, par value $0.0001 per share

(Title of Class of Securities)

693691107

(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. 693691107

1

Names of Reporting Persons

Alyeska Investment Group, L.P.

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,424,571.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,424,571.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,424,571.00

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)

9.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP No. 693691107

1

Names of Reporting Persons

Alyeska Fund GP, LLC

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,424,571.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,424,571.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,424,571.00

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)

9.9 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

CUSIP No. 693691107

1

Names of Reporting Persons

Anand Parekh

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 STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,424,571.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,424,571.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,424,571.00

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)

9.9 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PSQ Holdings, Inc.
(b)	Address of issuer's principal executive offices: 313 Datura Street, Suite 200, West Palm Beach, Florida 33401
Item 2.
(a)	Name of person filing: (i) Alyeska Investment Group, L.P. (ii) Alyeska Fund GP, LLC (iii) Anand Parekh
(b)	Address or principal business office or, if none, residence: (i) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601 (ii) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601 (iii) 77 West Wacker Drive, 7th Floor, Chicago, IL 60601
(c)	Citizenship: (i) Alyeska Investment Group, L.P. - Delaware (ii) Alyeska Fund GP, LLC - Delaware (iii) Anand Parekh - United States of America
(d)	Title of class of securities: Class A common stock, par value $0.0001 per share
(e)	CUSIP No.: 693691107
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: 4,424,571
(b)	Percent of class: 9.9%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 4,424,571
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 4,424,571
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 acquired and are held in the ordinary course of business and 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.

Alyeska Investment Group, L.P.

Signature:	Jason Bragg
Name/Title:	Jason Bragg | Chief Financial Officer
Date:	02/17/2026

Alyeska Fund GP, LLC

Signature:	Jason Bragg
Name/Title:	Jason Bragg | Chief Financial Officer
Date:	02/17/2026

Anand Parekh

Signature:	Anand Parekh
Name/Title:	Anand Parekh | Self
Date:	02/17/2026

Exhibit Information

The reporting persons are the beneficial owners of 3,862,102 shares of common stock, hold pre-funded warrants to purchase 5,018,184 shares of the Issuer's Class A common stock, and hold warrants to purchase 8,522,730 shares of the Issuer's Class A common stock, (the "Warrants"). However, per their terms, the Warrants can only be exercised into such number of shares that would constitute 9.9% of the total number of Common Stock of the Issuer outstanding immediately after giving effect to the issuance of Common Stock upon exercise of this Warrant by the Holder. Accordingly, as of December 31, 2025 the reporting persons may only exercise up to 562,469 Ordinary Shares under the Warrant Agreement, and as such, is reporting beneficial ownership of only such number of shares. The percentage calculation assumes that there are currently 44,692,639 outstanding shares of Ordinary Shares of the Issuer, based on the Issuer's Prospectus filed with the Securities and Exchange Commission on December 19, 2025. JOINT FILING STATEMENT PURSUANT TO RULE 13d-1(k) The undersigned acknowledge and agree that the foregoing statement on SCHEDULE 13G/A, is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on SCHEDULE 13G/A, shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate.

FAQ

What ownership stake in PSQ Holdings (PSQH) does Alyeska report?

Alyeska and related filers report beneficial ownership of 4,424,571 PSQ Holdings Class A shares, representing 9.9% of the class as of December 31, 2025. They hold only shared voting and dispositive power over these shares.

How is Alyeska’s PSQ Holdings (PSQH) position structured?

Alyeska’s reported position includes 3,862,102 common shares, pre-funded warrants to purchase 5,018,184 shares, and additional warrants to purchase 8,522,730 shares. Warrant exercises are constrained by a 9.9% beneficial ownership limitation in the terms.

What limits apply to Alyeska’s warrant exercises in PSQ Holdings (PSQH)?

The warrants can only be exercised so Alyeska’s holdings remain at or below 9.9% of PSQ Holdings common stock. As of December 31, 2025, this cap allows exercise of up to 562,469 shares, based on 44,692,639 shares outstanding.

Is Alyeska’s PSQ Holdings (PSQH) stake intended to influence control?

The filers certify the securities were acquired and held in the ordinary course of business and not for the purpose of changing or influencing control of PSQ Holdings, consistent with a passive Schedule 13G filing status.

Who are the reporting persons for this PSQ Holdings (PSQH) Schedule 13G/A?

The reporting persons are Alyeska Investment Group, L.P., Alyeska Fund GP, LLC, and Anand Parekh. All three report the same 4,424,571 shares with shared voting and dispositive power, reflecting joint beneficial ownership.

What PSQ Holdings (PSQH) share count underlies Alyeska’s 9.9% ownership figure?

The reported 9.9% beneficial ownership is based on 44,692,639 outstanding shares of PSQ Holdings common stock. This outstanding share figure comes from a company prospectus dated December 19, 2025, referenced in the filing’s exhibit.