13F-HR: Cannae Holdings Reveals Q1 2025 Portfolio: Significant Holdings in Dun & Bradstreet, Paysafe, and Alight

Cannae Holdings' latest 13F filing unveils its investment portfolio as of March 31, 2025, with substantial holdings in Dun & Bradstreet, Paysafe, Alight, System1, and Rapid7.

Summary

• Cannae Holdings, Inc. filed its Form 13F for the quarter ended March 31, 2025.
• The filing reports holdings in five companies.
• The total value of the reported holdings is approximately $915.5 million.
• The largest holding is in Dun & Bradstreet Holdings Inc., valued at approximately $617.3 million, representing 69,048,691 shares.
• The second largest holding is in Alight Inc COM CL A, valued at approximately $240.0 million, representing 40,477,062 shares.
• Paysafe Limited SHS is valued at approximately $38.6 million, representing 2,462,237 shares.
• System1 Inc CL A COM is valued at approximately $10.3 million, representing 27,012,794 shares.
• Rapid7 Inc COM is valued at approximately $9.3 million, representing 350,000 shares.

Sentiment

Score: 6

Explanation: The document is a factual report of holdings. The sentiment is neutral, reflecting the objective nature of the filing. The score is a 6 as the document is purely informational.

Positives

• The portfolio is diversified across multiple companies in different sectors.
• Cannae Holdings has a significant investment in Dun & Bradstreet, indicating confidence in the company's future performance.
• The investments in Alight, Paysafe, System1, and Rapid7 suggest a broader investment strategy across various technology and service sectors.

Risks

• The value of the portfolio is subject to market fluctuations and the performance of the individual companies held.
• Concentration risk exists due to the large holding in Dun & Bradstreet, which could significantly impact the portfolio if the company underperforms.
• Investments in smaller companies like System1 and Rapid7 may carry higher volatility and risk compared to larger, more established companies.

Industry Context

Cannae Holdings' investment strategy appears to focus on companies in the technology, data, and financial services sectors. The significant investment in Dun & Bradstreet, a data and analytics provider, aligns with the increasing importance of data-driven decision-making in various industries. The investments in Paysafe and Alight suggest an interest in the payments and human capital management sectors, respectively.

Comparison to Industry Standards

• Cannae Holdings' portfolio allocation can be compared to other investment firms with a focus on technology and financial services.
• For example, firms like Berkshire Hathaway and Pershing Square Capital Management also hold concentrated positions in specific companies they believe will outperform the market.
• The size of Cannae Holdings' investments in companies like Dun & Bradstreet is significant relative to the company's market capitalization, indicating a strong conviction in its potential.

Stakeholder Impact

• Shareholders of Cannae Holdings will be interested in the performance of these investments.
• The companies in which Cannae Holdings has invested may see changes in their stock prices based on this disclosure.
• Employees of Cannae Holdings are impacted by the overall financial performance of the company.

Key Dates

Keywords

Cannae Holdings, Form 13F, Investment Portfolio, Dun & Bradstreet, Paysafe, Alight, System1, Rapid7, Holdings, Shares