Driehaus Capital discloses 6.08% CDNL stake in client accounts

Rhea-AI Filing Summary

Driehaus Capital Management LLC reported beneficial ownership of Class A common stock of Cardinal Infrastructure Group Inc. amounting to 1,208,910 shares, representing 6.08% of the class as of June 30, 2026. These shares are treated as beneficially owned by Driehaus because it has discretionary authority over client accounts holding the securities.

Driehaus reports no sole voting or dispositive power over the shares and shared voting and dispositive power over 1,208,910 shares. The holdings are spread across numerous clients’ accounts managed on a fully discretionary basis, and to the best of Driehaus’s knowledge, no individual client has the right to receive dividends or sale proceeds relating to more than 5% of the class.

Key Figures

Beneficially owned shares: 1,208,910 shares Percent of class: 6.08% Shared voting power: 1,208,910 +3 more

6 metrics

Beneficially owned shares 1,208,910 shares Class A common stock beneficially owned by Driehaus Capital Management

Percent of class 6.08% Portion of Cardinal Infrastructure Group Inc. Class A common stock

Shared voting power 1,208,910 Shares over which Driehaus has shared power to vote or direct the vote

Shared dispositive power 1,208,910 Shares over which Driehaus has shared power to dispose or direct disposition

Sole voting power 0 Shares over which Driehaus has sole power to vote

Sole dispositive power 0 Shares over which Driehaus has sole power to dispose

Key Terms

beneficially owned, Sole voting power, Shared dispositive power, dispositive power, +1 more

5 terms

beneficially owned financial

"Item 4. | Ownership (a) | Amount beneficially owned: 1208910"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole voting power financial

"5 | Sole Voting Power 0.00 6 | Shared Voting Power 1,208,910.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Shared dispositive power financial

"8 | Shared Dispositive Power 1,208,910.00"

dispositive power financial

"has dispositive power. To the best of DCM's knowledge"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Investment Company Act of 1940 regulatory

"investment company registered under the Investment Company Act of 1940"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

FAQ

What percentage of Cardinal Infrastructure Group Inc. (CDNL) does Driehaus Capital Management own?

Driehaus Capital Management reports beneficial ownership of 6.08% of Cardinal Infrastructure Group Inc.’s Class A common stock, representing 1,208,910 shares held across discretionary client accounts it manages.

How many CDNL shares does Driehaus Capital Management report as beneficially owned?

Driehaus Capital Management reports beneficial ownership of 1,208,910 shares of Cardinal Infrastructure Group Inc. Class A common stock, corresponding to 6.08% of the outstanding class as disclosed in the Schedule 13G filing.

Does Driehaus Capital Management have sole voting power over its CDNL holdings?

Driehaus Capital Management reports no sole voting power over Cardinal Infrastructure Group Inc. shares and shared voting power over 1,208,910 shares held in discretionary client accounts it manages.

Who actually holds the CDNL shares reported by Driehaus Capital Management?

The 1,208,910 CDNL shares are held by numerous clients in accounts managed on a fully discretionary basis by Driehaus Capital Management, which reports beneficial ownership due to its voting and dispositive authority.

Do any Driehaus clients hold more than 5% of CDNL’s Class A common stock?

To the best of Driehaus Capital Management’s knowledge, none of its referenced clients have rights to dividends or sale proceeds relating to more than 5% of CDNL’s Class A common stock.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/14/2026 - 07:40 AM Accepted by SEC EDGAR 08/14/2026 - 07:39 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Cardinal Infrastructure Group Inc.

(Name of Issuer)

Class A Common Stock

(Title of Class of Securities)

14154A102

(CUSIP Number)

06/30/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 14154A102

1

Names of Reporting Persons

DRIEHAUS CAPITAL MANAGEMENT LLC

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

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,208,910.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,208,910.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,208,910.00

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)

6.08 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Cardinal Infrastructure Group Inc.
(b)	Address of issuer's principal executive offices: 100 E. Six Forks Road #300, Raleigh, North Carolina 27609
Item 2.
(a)	Name of person filing: Driehaus Capital Management LLC
(b)	Address or principal business office or, if none, residence: 25 East Erie Street, Chicago, Illinois 60611
(c)	Citizenship: USA
(d)	Title of class of securities: Class A Common Stock
(e)	CUSIP Number(s): 14154A102
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: 1208910
(b)	Percent of class: 6.08%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 1208910
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 1208910
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.
	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 shares reported by Driehaus Capital Management LLC (DCM) are held by numerous clients on a fully discretionary basis in accounts managed by DCM. Securities held in these clients' accounts are included in this report to reflect that DCM may have voting power and has dispositive power. To the best of DCM's knowledge, none of the referenced clients have the right to receive dividends or direct proceeds from the sale of interests relating to more than 5% of the class.
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:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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.

DRIEHAUS CAPITAL MANAGEMENT LLC

Signature:	Janet McWilliams
Name/Title:	General Counsel
Date:	08/14/2026