SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Cheer Holding, Inc.

(Name of Issuer)

Class A Ordinary Shares, $0.001 par value

(Title of Class of Securities)

G39973204

(CUSIP Number)

11/06/2025

(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.

G39973204

Names of Reporting Persons

BIGGER CAPITAL FUND L P

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

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 5,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,000,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

5,000,000.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

4.41 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

G39973204

Names of Reporting Persons

Bigger Capital Fund GP, LLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

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 5,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,000,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

5,000,000.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

4.41 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

G39973204

Names of Reporting Persons

District 2 Capital Fund LP

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

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 5,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,000,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

5,000,000.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

4.41 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

G39973204

Names of Reporting Persons

District 2 Capital LP

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

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 5,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,000,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

5,000,000.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

4.41 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

G39973204

Names of Reporting Persons

District 2 GP LLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

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 5,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,000,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

5,000,000.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

4.41 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

G39973204

Names of Reporting Persons

District 2 Holdings LLC

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

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 5,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,000,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

5,000,000.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

4.41 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

CUSIP No.

G39973204

Names of Reporting Persons

Bigger Michael

Check the appropriate box if a member of a Group (see instructions)

(a)

(b)

Sec Use Only

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 10,000,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 10,000,000.00

Aggregate Amount Beneficially Owned by Each Reporting Person

10,000,000.00

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in row (9)

8.83 %

Type of Reporting Person (See Instructions)

SCHEDULE 13G

Item 1.

(a)

Name of issuer:

Cheer Holding, Inc.

(b)

Address of issuer's principal executive offices:

19F, Block B, Xinhua Technology Building, No. 8 Tuofangying South Road, Jiuxianqiao, Chaoyang District, Beijing, China 100016

Item 2.

(a)

Name of person filing:

Bigger Capital Fund, LP ("Bigger Capital") Bigger Capital Fund GP, LLC ("Bigger GP") District 2 Capital Fund LP ("District 2 CF") District 2 Capital LP ("District 2") District 2 GP LLC ("District 2 GP") District 2 Holdings LLC ("District 2 Holdings") Michael Bigger Each of the foregoing is referred to as a "Reporting Person" and collectively as the "Reporting Persons."

(b)

Address or principal business office or, if none, residence:

Bigger Capital Fund, LP 11700 West Charleston Blvd., #170-659 Las Vegas, NV, 89135 Bigger Capital Fund GP, LLC 11700 West Charleston Blvd., #170-659 Las Vegas, NV, 89135 District 2 Capital Fund LP 175 W. Carver Street Huntington, NY 11743 District 2 Capital LP 175 W. Carver Street Huntington, NY 11743 District 2 GP LLC 175 W. Carver Street Huntington, NY 11743 District 2 Holdings LLC 175 W. Carver Street Huntington, NY 11743 Michael Bigger 11700 West Charleston Blvd., #170-659 Las Vegas, NV, 89135

(c)

Citizenship:

Bigger Capital Fund, LP Delaware Bigger Capital Fund GP, LLC Delaware District 2 Capital Fund LP Delaware District 2 Capital LP Delaware District 2 GP LLC Delaware District 2 Holdings LLC Delaware Michael Bigger USA

(d)

Title of class of securities:

Class A Ordinary Shares, $0.001 par value

(e)

CUSIP No.:

G39973204

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:

As of November 6, 2025, Bigger Capital beneficially owned 5,000,000 Class A Ordinary Shares. The amount does not include 26,250,000 Class A Ordinary Shares issuable upon exercise of Pre-Funded Warrants, which were subject to a 9.99% beneficial ownership limitation, which are not included in the amount deemed to be beneficially owned by the Reporting Persons. Bigger GP, as the general partner of Bigger Capital, may be deemed to beneficially own the Issuer's securities described herein. As of November 6, 2025, District 2 CF beneficially owned 5,000,000 Class A Ordinary Shares. The amount does not include 26,250,000 Class A Ordinary Shares issuable upon exercise of Pre-Funded Warrants, which were subject to a 9.99% beneficial ownership limitation, which are not included in the amount deemed to be beneficially owned by the Reporting Persons. District 2, as the investment manager of District 2 CF, may be deemed to beneficially own the Issuer's securities described herein beneficially owned by District 2 CF. District 2 GP, as the general partner of District 2 CF, may be deemed to beneficially own the Issuer's securities described herein beneficially owned by District 2 CF. District 2 Holdings, as the managing member of District 2 GP, may be deemed to beneficially own the Issuer's securities described herein beneficially owned by District 2 CF Mr. Bigger, as the managing member of Bigger GP and the managing member of District 2 Holdings, may be deemed to beneficially own the: (i) 5,000,000 Class A Ordinary Shares beneficially owned by Bigger Capital, and (ii) 5,000,000 Class A Ordinary Shares beneficially owned by District 2 CF. Does not include: (a) 26,250,000 Class A Ordinary Shares issuable upon exercise of Pre-Funded Warrants, which were subject to a 9.99% beneficial ownership limitation owned by Bigger Capital, and (b) 26,250,000 Class A Ordinary Shares issuable upon exercise of Pre-Funded Warrants, which were subject to a 9.99% beneficial ownership limitation owned by District 2 CF. The foregoing should not be construed in and of itself as an admission by any Reporting Person as to beneficial ownership of any shares of Class A Ordinary Shares owned by another Reporting Person. Each of Bigger GP and Mr. Bigger disclaims beneficial ownership of the shares of Class A Ordinary Shares beneficially owned by Bigger Capital. Each of District 2, District 2 GP, District 2 Holdings and Mr. Bigger disclaims beneficial ownership of the shares of Class A Ordinary Shares beneficially owned by District 2 CF. The filing of this statement shall not be construed as an admission that any such person or entity is the beneficial owner of any such securities.

(b)

Percent of class:

The following percentages are based on the aggregate of: (i) 89,309,902 Class A Ordinary Shares outstanding immediately before the offering, and (ii) 24,000,000 Class A Ordinary Shares, the number of shares of Class A Ordinary Shares being offered (excluding the Class A Ordinary Shares issuable upon exercise of the Pre-Funded Warrants), based upon the Issuer's Prospectus Supplement filed under Rule 424(b)(5) with the Securities and Exchange Commission on November 6, 2025. As of November 6, 2025, (i) each of Bigger Capital and Bigger GP may be deemed to beneficially own 4.41% of the outstanding Class A Ordinary Shares, (ii) each of District 2 CF, District 2, District 2 GP and District Holdings may be deemed to beneficially own 4.41% of the outstanding Class A Ordinary Shares, and (iii) Mr. Bigger may be deemed to beneficially own approximately 8.83% of the outstanding Class A Ordinary Shares. Does not include: (a) 26,250,000 Class A Ordinary Shares issuable upon exercise of Pre-Funded Warrants, which were subject to a 9.99% beneficial ownership limitation owned by Bigger Capital, and (b) 26,250,000 Class A Ordinary Shares issuable upon exercise of Pre-Funded Warrants, which were subject to a 9.99% beneficial ownership limitation owned by District 2 CF. Subsequent to November 6, 2025, each of the Reporting Person sold Class A Ordinary Shares. As of November 11, 2025, Mr. Bigger still beneficially owns greater than 5.00% of the outstanding Class A Ordinary Shares.

(c)

Number of shares as to which the person has:

(i) Sole power to vote or to direct the vote:

See Cover Pages Items 5-9.

(ii) Shared power to vote or to direct the vote:

See Cover Pages Items 5-9.

(iii) Sole power to dispose or to direct the disposition of:

See Cover Pages Items 5-9.

(iv) Shared power to dispose or to direct the disposition of:

See Cover Pages Items 5-9.

Item 5.

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.

Bigger GP and Mr. Bigger may be deemed to share voting and dispositive power over the Class A Ordinary Shares beneficially owned by Bigger Capital and each of District 2, District 2 GP, District 2 Holdings and Mr. Bigger may be deemed to share voting and dispositive power over the Class A Ordinary Shares beneficially owned by District 2 CF.

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 Exhibit 99.1.

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.

BIGGER CAPITAL FUND L P

Signature:	/s/ Michael Bigger
Name/Title:	Michael Bigger, Managing Member of Bigger Capital Fund GP, LLC, its general partner
Date:	11/12/2025

Bigger Capital Fund GP, LLC

Signature:	/s/ Michael Bigger
Name/Title:	Michael Bigger, Managing Member
Date:	11/12/2025

District 2 Capital Fund LP

Signature:	/s/ Michael Bigger
Name/Title:	Michael Bigger, Managing Member of District 2 GP LLC, its general partner
Date:	11/12/2025

District 2 Capital LP

Signature:	/s/ Michael Bigger
Name/Title:	Michael Bigger, Managing Member
Date:	11/12/2025

District 2 GP LLC

Signature:	/s/ Michael Bigger
Name/Title:	Michael Bigger, Managing Member
Date:	11/12/2025

District 2 Holdings LLC

Signature:	/s/ Michael Bigger
Name/Title:	Michael Bigger, Managing Member
Date:	11/12/2025

Bigger Michael

Signature:	/s/ Michael Bigger
Name/Title:	Michael Bigger
Date:	11/12/2025

Exhibit Information

99.1 - Joint Filing Agreement

SEC Form SCHEDULE 13G filed by Cheer Holding Inc.