Ryan Cohen boosts GameStop (NYSE: GME) ownership to 9.2% stake

Rhea-AI Filing Summary

GameStop Corp. shareholder Ryan Cohen reported beneficial ownership of 41,582,626 shares of Class A common stock, representing about 9.2% of the outstanding shares. This total includes 3,734,784 shares underlying warrants he received as a dividend from the company.

His ownership percentage is based on 448,009,480 shares outstanding as of December 5, 2025, plus the shares underlying his warrants. Cohen purchased 37,847,842 of these shares using personal funds, for an aggregate purchase price of approximately $117,409,775, excluding commissions.

On January 20, 2026, Cohen further increased his position by buying 500,000 GameStop shares in the open market at a weighted average price of $21.1174 per share, with individual trade prices ranging from $20.8071 to $21.1997.

Insights

Equity ownership and governance analyst

Ryan Cohen modestly increases an already sizable 9.2% GameStop stake.

Ryan Cohen now beneficially owns 41,582,626 GameStop shares, or about 9.2% of the Class A common stock. This figure is calculated using 448,009,480 shares outstanding as of December 5, 2025, plus the shares issuable from his warrants. The position combines 37,847,842 directly purchased shares with 3,734,784 shares underlying warrants received via a dividend.

The filing details that Cohen paid approximately $117,409,775 in aggregate for the directly owned shares, excluding commissions, indicating a substantial long-term capital commitment. On January 20, 2026, he added another 500,000 shares in open-market trades at a weighted average price of $21.1174 per share, with executions between $20.8071 and $21.1997. This incremental buying slightly lifts his ownership while leaving overall control dynamics unchanged at a sub-10% level.

Because the stake remains below common change-of-control thresholds, governance implications are limited to continued influence as a large shareholder. Future company disclosures may show whether his percentage changes meaningfully from the current 9.2% level through additional purchases, warrant exercises, or share count changes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 13)

GameStop Corp.

(Name of Issuer)

Class A Common Stock, $0.001 par value per share

(Title of Class of Securities)

36467W109

(CUSIP Number)

RYAN NEBEL
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

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

01/20/2026

(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).

SCHEDULE 13D

CUSIP No. 36467W109

1

Name of reporting person

Cohen Ryan

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)

PF, OO

5

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

6

Citizenship or place of organization

CANADA (FEDERAL LEVEL)

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 41,582,626.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 41,582,626.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

41,582,626.00

12

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

13

Percent of class represented by amount in Row (11)

9.2 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, $0.001 par value per share
(b)	Name of Issuer: GameStop Corp.
(c)	Address of Issuer's Principal Executive Offices: 625 WESTPORT PARKWAY, GRAPEVINE, TEXAS , 76051.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and restated to read as follows: The Shares directly owned by Mr. Cohen were purchased with personal funds (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 37,847,842 Shares directly owned by Mr. Cohen is approximately $117,409,775, excluding brokerage commissions. Mr. Cohen also owns 3,734,784 Warrants, which Mr. Cohen received from the Issuer for no consideration pursuant to a warrant dividend distribution to the Issuer's stockholders (as further explained in Amendment No. 12 to the Schedule 13D).
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated to read as follows: The aggregate percentage of Shares reported owned by the Reporting Person is based upon 448,009,480 Shares outstanding as of December 5, 2025 as reported in the Issuer's Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 9, 2025, plus the Shares underlying the Warrants that may be exercised by the Reporting Person. As of the date hereof, Mr. Cohen directly beneficially owned 41,582,626 Shares, including 3,734,784 Shares underlying the Warrants, constituting approximately 9.2% of the Shares outstanding.
(c)	Item 5(c) is hereby amended and restated to read as follows: On January 20, 2026, Mr. Cohen purchased an aggregate of 500,000 Shares at a weighted average price of $21.1174 per Share in multiple transactions at prices ranging from $20.8071 to $21.1997, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of securities purchased at each separate price. All of such transactions were effected in the open market. Except as otherwise disclosed herein, there have been no transactions in securities of the Issuer by the Reporting Person since the filing of Amendment No. 12 to the Schedule 13D.

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.

Cohen Ryan

Signature:	/s/ Ryan Cohen
Name/Title:	Ryan Cohen
Date:	01/20/2026

FAQ

How many GameStop (GME) shares does Ryan Cohen currently beneficially own?

Ryan Cohen beneficially owns 41,582,626 GameStop Class A common shares, including shares underlying warrants.

What percentage of GameStop (GME) does Ryan Cohen own according to this filing?

Ryan Cohen's beneficial ownership is approximately 9.2% of GameStop's outstanding Class A common stock.

Did Ryan Cohen recently buy additional GameStop (GME) shares?

Yes. On January 20, 2026, Ryan Cohen purchased 500,000 GameStop shares at a weighted average price of $21.1174 per share in open-market transactions.

How many GameStop (GME) shares underlying warrants are included in Ryan Cohen's stake?

His beneficial ownership includes 3,734,784 GameStop shares underlying warrants he received via a warrant dividend distribution.

What is the total purchase price Ryan Cohen paid for his directly owned GameStop (GME) shares?

Ryan Cohen paid an aggregate of approximately $117,409,775, excluding brokerage commissions, for 37,847,842 directly owned GameStop shares.

What GameStop (GME) share count was used to calculate Ryan Cohen's 9.2% ownership?

The percentage is based on 448,009,480 GameStop shares outstanding as of December 5, 2025, plus the shares underlying his warrants.