Arcadia Biosciences: Capuchin reports 15.7% stake

The reported position represents 15.7% of Arcadia Biosciences’ outstanding common shares, with shared voting and disposition authority.

Rhea-AI Filing Summary

Arcadia Biosciences, Inc. (RKDA) is the issuer in a Schedule 13G reporting that MJL Manager LLC, Michael Liu, and Capuchin Capital Fund LP each report beneficial ownership of 378,740 common shares, representing 15.7% of the class. Each reports shared voting and dispositive power over 378,740 shares, with no sole voting or dispositive power. MJL is the fund’s general partner; Michael Liu is MJL’s sole control person and has authority to direct voting and disposition of shares held by the fund. The reporting persons state that reporting shared power is not an admission of beneficial ownership of shares attributed to another reporting person, and disclaim beneficial ownership except to the extent of each person’s actual pecuniary interest. The 15.7% calculation uses 2,409,211 shares outstanding, as reported by Arcadia in its Form 10-Q filed August 13, 2026.

Key Figures

Beneficial ownership: 378,740 shares Percent of class: 15.7% Shares outstanding: 2,409,211 shares +2 more

5 metrics

Beneficial ownership 378,740 shares Reported by each of the three reporting persons

Percent of class 15.7% Calculated using shares outstanding reported in Arcadia’s Form 10-Q filed August 13, 2026

Shares outstanding 2,409,211 shares Reported by Arcadia in its Form 10-Q filed August 13, 2026

Shared voting power 378,740 shares Reported by each of the three reporting persons

Shared dispositive power 378,740 shares Reported by each of the three reporting persons

Key Terms

beneficial ownership, Shared Voting Power, Shared Dispositive Power, actual pecuniary interest

4 terms

beneficial ownership regulatory

"Amount beneficially owned: 378,740"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

Shared Voting Power regulatory

"Shared Voting Power 378,740.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

Shared Dispositive Power regulatory

"Shared Dispositive Power 378,740.00"

actual pecuniary interest regulatory

"except to the extent of such person's actual pecuniary interest therein"

FAQ

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

How many RKDA shares are reported in the Schedule 13G?

MJL Manager LLC, Michael Liu, and Capuchin Capital Fund LP each report beneficial ownership of 378,740 common shares, equal to 15.7% of the class. Each reports shared voting and dispositive power over 378,740 shares.

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

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Available on EDGAR 09/30/2026 - 08:27 AM Accepted by SEC EDGAR 09/30/2026 - 08:26 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Arcadia Biosciences, Inc.

(Name of Issuer)

Common

(Title of Class of Securities)

039014303

(CUSIP Number)

09/25/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 039014303

1

Names of Reporting Persons

MJL Manager 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

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 378,740.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 378,740.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

378,740.00

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)

15.7 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: MJL Manager LLC ("MJL") is the general partner of Capuchin Capital Fund LP.

SCHEDULE 13G

CUSIP Number(s): 039014303

1

Names of Reporting Persons

Michael Liu

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 378,740.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 378,740.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

378,740.00

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)

15.7 %

12

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person: Michael Liu is the sole control person of MJL and, in such capacity, has the authority to direct the voting and disposition of the shares held by Capuchin Capital Fund LP. The reporting of shared power by the reporting persons shall not be construed as an admission that they are the beneficial owner of shares beneficially owned by the other, and each expressly disclaims beneficial ownership except to the extent of such person's actual pecuniary interest therein.

SCHEDULE 13G

CUSIP Number(s): 039014303

1

Names of Reporting Persons

Capuchin Capital Fund LP

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 378,740.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 378,740.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

378,740.00

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)

15.7 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Arcadia Biosciences, Inc.
(b)	Address of issuer's principal executive offices: 5956 SHERRY LANE, SUITE 2000, DALLAS, TEXAS, 75225
Item 2.
(a)	Name of person filing: MJL Manager LLC Michael Liu Capuchin Capital Fund LP
(b)	Address or principal business office or, if none, residence: 12 Manley Road, Pennington NJ 08534
(c)	Citizenship: MJL Manager LLC - New Jersey Michael Liu - USA Capuchin Capital Fund LP - Delaware
(d)	Title of class of securities: Common
(e)	CUSIP Number(s): 039014303
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: 378,740
(b)	Percent of class: 15.7%, calculated based on 2,409,211 total shares outstanding as reported by the issuer in its Form 10-Q filed August 13th, 2026
(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: 378,740
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 378,740
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.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. See Item 2(a) in lieu of an Exhibit.
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.

MJL Manager LLC

Signature:	Michael Liu
Name/Title:	Managing Member
Date:	09/30/2026

Michael Liu

Signature:	Michael Liu
Name/Title:	Individual
Date:	09/30/2026

Capuchin Capital Fund LP

Signature:	Michael Liu
Name/Title:	Managing Member
Date:	09/30/2026

Exhibit Information

Exhibit I - JOINT FILING STATEMENT