| Item 1. | |
| (a) | Name of issuer:
Xcel Brands, Inc. |
| (b) | Address of issuer's principal executive offices:
550 Seventh Avenue, 11th Floor, New York, NY 10018 |
| Item 2. | |
| (a) | Name of person filing:
Jeffrey Sanford Link ("Mr. Link"). |
| (b) | Address or principal business office or, if none, residence:
444 Arthur Terrace, Paramus, New Jersey 07652. |
| (c) | Citizenship:
Mr. Link is a citizen of the United States. |
| (d) | Title of class of securities:
Common Stock, par value $0.001 per share |
| (e) | CUSIP Number(s):
98400M200 |
| 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:
The information required by this item with respect to Mr. Link is set forth in Rows 5 through 9 and 11 of the cover page to this Schedule 13G and is incorporated herein by reference for Mr. Link. The ownership percentages reported are based on 6,908,839 shares of Common Stock outstanding as of October 19, 2026, as disclosed in the Proxy Statement. 150,000 shares of Common Stock are held by Mr. Link and his wife in joint accounts. 402,758 shares of Common Stock are held in an account under the name of Mr. Link only. Mr. Link has the power to dispose of and the power to vote the shares of Common Stock held by him. |
| (b) | Percent of class:
8.0 %
|
| (c) | Number of shares as to which the person has:
|
| | (i) Sole power to vote or to direct the vote:
402,758.00
|
| | (ii) Shared power to vote or to direct the vote:
150,000.00
|
| | (iii) Sole power to dispose or to direct the disposition of:
402,758.00
|
| | (iv) Shared power to dispose or to direct the disposition of:
150,000.00
|
| 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
|
Rule 13d-1(b)
Rule 13d-1(c)