13F-HR: Cannae Holdings Discloses Q3 2025 Equity Portfolio

Cannae Holdings, Inc. reported its institutional investment holdings for the quarter ended September 30, 2025, totaling $189.3 million across four equity positions.

Summary

• Cannae Holdings, Inc. filed its Form 13F-HR, disclosing its equity holdings for the calendar quarter ended September 30, 2025.
• The total market value of reportable securities held by Cannae Holdings, Inc. was $189,346,828.
• The report details four distinct equity positions held by the institutional investment manager.
• Key holdings include Alight Inc. (40,477,062 shares valued at $131,955,222), Paysafe Limited (2,462,237 shares valued at $31,812,102), System1 Inc. (2,701,279 shares valued at $19,017,004), and Rapid7 Inc. (350,000 shares valued at $6,562,500).
• All disclosed holdings are under sole investment discretion and sole voting authority.

Sentiment

Score: 5

Explanation: Neutral, as a 13F is a factual disclosure of holdings and does not inherently convey positive or negative sentiment about the filing entity's performance or outlook. It provides transparency into investment decisions.

Positives

• The filing demonstrates transparency in Cannae Holdings, Inc.'s investment activities, providing a clear snapshot of its equity portfolio.
• The report confirms compliance with SEC regulatory disclosure requirements for institutional investment managers.
• Cannae Holdings, Inc. maintains a substantial reportable equity portfolio valued at over $189 million.

Negatives

• The Form 13F-HR is a factual disclosure of holdings and does not inherently contain negative information regarding the institutional investment manager's performance or operational status.

Risks

• The filing itself does not detail specific risks of Cannae Holdings, Inc. as an entity.
• The disclosed equity holdings are subject to market volatility, investment-specific risks, and potential declines in value based on market conditions and the performance of the underlying companies.
• Concentration risk exists with Alight Inc. representing a significant portion of the reported portfolio value.

Future Outlook

The Form 13F-HR is a historical disclosure of past holdings and does not contain any forward-looking statements or guidance from Cannae Holdings, Inc. regarding future investment strategies or market outlook.

Management Comments

• Bryan D. Coy, Chief Financial Officer, signed the report on behalf of Cannae Holdings, Inc., representing that the information is true, correct, and complete.

Industry Context

This Form 13F-HR provides a quarterly snapshot of Cannae Holdings, Inc.'s public equity investments, offering transparency into its portfolio composition. Such filings are standard for institutional investment managers and contribute to market transparency, allowing investors and analysts to observe investment trends and strategies among major funds.

Comparison to Industry Standards

• The Form 13F-HR primarily discloses equity holdings and does not contain performance results or specific project outcomes that can be directly compared to global industry benchmarks or specific comparable companies.
• The act of filing the Form 13F-HR is a standard regulatory compliance requirement for institutional investment managers with reportable assets exceeding $100 million.

Stakeholder Impact

• Shareholders and potential investors of Cannae Holdings, Inc. gain insight into the company's investment strategy and portfolio allocation.
• Market analysts can use this data to track institutional investment trends and assess the conviction of Cannae Holdings, Inc. in its chosen equity positions.

Next Steps

• Cannae Holdings, Inc. will be required to file its next Form 13F-HR for the quarter ending December 31, 2025, within 45 days of the quarter's end.

Key Dates

Keywords

Cannae Holdings, 13F-HR, institutional holdings, equity portfolio, investment management, Paysafe Limited, Alight Inc, System1 Inc, Rapid7 Inc, SEC filing