Accelerant Holdings: Jeffrey L. Radke filed a Schedule 13G reporting beneficial ownership of 36,750,813 Class A common shares as of September 30, 2025, representing 29.9% of the Class A class. The position comprises 33,481 shares held directly, 28,187,829 held by Badly Bent LLC (where he is the manager of the sole member), 249,951 held by a trust for his spouse, and 8,279,552 shares underlying options.
Due to the issuer’s dual‑class structure (Class A: one vote; Class B: ten votes), Radke reports approximately 2.4% aggregate voting power and, excluding options not exercisable within 60 days, approximately 12.8% of the aggregate Class A and Class B outstanding. Class A shares outstanding were 114,578,616 and Class B were 107,241,428 as of September 30, 2025.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Accelerant Holdings
(Name of Issuer)
Class A common shares, $0.0000011951862 par value per share
(Title of Class of Securities)
G00894108
(CUSIP Number)
09/30/2025
(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.
G00894108
1
Names of Reporting Persons
RADKE JEFFREY L
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
36,500,862.00
6
Shared Voting Power
249,951.00
7
Sole Dispositive Power
36,500,862.00
8
Shared Dispositive Power
249,951.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
36,750,813.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
29.9 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: Notwithstanding the percentage reported in row 11, and excluding the Class A common shares underlying the Reporting Person's options, which are not exercisable within 60 days but have been included in the Reporting Person's beneficial ownership as reported herein out of abundance of caution, the Reporting Person owns approximately 12.8% of the aggregate Class A common shares and Class B common shares outstanding, and the Reporting Person's voting power represents approximately 2.4% of the aggregate voting power of the Issuer.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Accelerant Holdings
(b)
Address of issuer's principal executive offices:
Unit 106, Windward 3, Regatta Office Park, West Bay Road, Grand Cayman, Cayman Islands, KY1-1108
Item 2.
(a)
Name of person filing:
Jeffrey L. Radke (the "Reporting Person")
(b)
Address or principal business office or, if none, residence:
Unit 106, Windward 3, Regatta Office Park, West Bay Road, Grand Cayman, Cayman Islands, KY1-1108
(c)
Citizenship:
United States
(d)
Title of class of securities:
Class A common shares, $0.0000011951862 par value per share
(e)
CUSIP No.:
G00894108
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 September 30, 2025, the Reporting Person may be deemed the beneficial owner of 36,750,813 Class A common shares. This amount includes (i) 33,481 Class A common shares held directly by the Reporting Person, (ii) 28,187,829 Class A common shares held directly by Badly Bent LLC, of which the Reporting Person is the manager of the sole member, (iii) 249,951 Class A common shares held directly by a trust established for the benefit of the Reporting Person's spouse, who is the trustee of the trust, and (iv) 8,279,552 Class A common shares the Reporting Person has the right to acquire upon exercise of options.
(b)
Percent of class:
The Issuer has two classes of Common Stock: Class A common shares and Class B common shares. Each Class A common share is entitled to one vote per share, and each Class B common share is entitled to ten votes per share. As of September 30, 2025, the Reporting Person may be deemed the beneficial owner of approximately 29.9% of the Class A common shares outstanding or, excluding the Class A common shares underlying the Reporting Person's options, which are not exercisable within 60 days but have been included in the Reporting Person's beneficial ownership as reported herein out of an abundance of caution, approximately 12.8% of the aggregate Class A common shares and Class B common shares outstanding. The Reporting Person's aggregate voting power represents approximately 2.4% of the voting power of the Issuer.
The beneficial ownership percentage of the Class A common shares set forth herein is calculated based on (i) 114,578,616 Class A common shares outstanding as of September 30, 2025, as reported in the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2025, and (ii) 8,279,552 Class A common shares the Reporting Person has the right to acquire upon exercise of options, which Class A common shares have been added to the quantity of Class A common shares outstanding in accordance with Rule 13d-3(d)(1)(i) under the Securities Exchange Act of 1934, as amended. The aggregate percentage ownership of the Class A common shares and Class B common shares, and the Reporting Person's aggregate voting power set forth herein, are also based on 107,241,428 Class B common shares outstanding as of September 30, 2025, as reported in the Issuer's quarterly report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2025.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
36,500,862
(ii) Shared power to vote or to direct the vote:
249,951
(iii) Sole power to dispose or to direct the disposition of:
36,500,862
(iv) Shared power to dispose or to direct the disposition of:
249,951
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.
The response to Item 4(a) is incorporated by reference herein.
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
Item 10.
Certifications:
Not Applicable
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.
RADKE JEFFREY L
Signature:
/s/ David Pelsue
Name/Title:
David Pelsue, attorney-in-fact for Jeffrey L. Radke
Date:
11/14/2025
Exhibit Information
Exhibit 1: Power of Attorney, dated September 24, 2025
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