Neil Gagnon's reported position includes shares subject to shared voting or disposition authority, with beneficial ownership disclaimed for customer accounts and a private fund.
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CNFinance Holdings Ltd. (CNF) is the issuer covered by an amended beneficial-ownership report listing positions for Neil Gagnon, Gagnon Securities LLC and Gagnon Advisors, LLC. The reported beneficial-ownership amounts were 126,893,600 ordinary shares (8.1%) for Neil Gagnon, 65,198,800 (4.2%) for Gagnon Securities and 48,407,800 (3.1%) for Gagnon Advisors.
Neil Gagnon, the company's Chief Executive Officer, reported sole voting and dispositive power over 8,408,800 ordinary shares, shared voting power over 117,655,400 and shared dispositive power over 118,484,800. The report describes shared authority over customer-account securities and shares held by Gagnon Investment Associates, LLC; the related reporting persons disclaim beneficial ownership of those securities. The percentages were calculated using 1,559,576,960 ordinary shares outstanding as of May 6, 2026.
Key Figures
Neil Gagnon reported beneficial ownership:126,893,600 ordinary sharesGagnon Securities reported beneficial ownership:65,198,800 ordinary sharesGagnon Advisors reported beneficial ownership:48,407,800 ordinary shares+2 more
5 metrics
Neil Gagnon reported beneficial ownership126,893,600 ordinary shares8.1% of the class
Gagnon Securities reported beneficial ownership65,198,800 ordinary shares4.2% of the class
Gagnon Advisors reported beneficial ownership48,407,800 ordinary shares3.1% of the class
Ordinary shares outstanding1,559,576,960 ordinary sharesAs of May 6, 2026; used to calculate beneficial-ownership percentages
Ordinary shares per ADS200 ordinary sharesEach American Depositary Share represents this number of ordinary shares
Key Terms
beneficial ownership, shared voting power, shared dispositive power, American Depositary Shares ("ADS"), +1 more
5 terms
beneficial ownershipfinancial
"Amount beneficially owned"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
shared voting powerfinancial
"Shared voting power over 117,655,400 shares"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
shared dispositive powerfinancial
"Shared dispositive power over 118,484,800 shares"
American Depositary Shares ("ADS")financial
"held in the form of American Depositary Shares ("ADS")"
American depositary shares are U.S.-listed certificates issued by a bank that represent ownership in shares of a foreign company, trading on American exchanges in dollars. Think of them as voucher tickets that let U.S. investors buy and sell foreign stock without handling foreign exchanges, currencies, or settlement rules directly. They matter because they make cross-border investing simpler and can affect liquidity, dividend payments and currency exposure for investors.
investment managerfinancial
"in its role as investment manager to several customer accounts"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many CNF shares did Neil Gagnon report beneficially owning?
Neil Gagnon reported beneficial ownership of 126,893,600 ordinary shares, or 8.1%. He is identified as CNFinance Holdings Ltd.'s Chief Executive Officer.
What CNF ownership amounts did Gagnon Securities and Gagnon Advisors report?
Gagnon Securities LLC reported 65,198,800 ordinary shares (4.2%), and Gagnon Advisors, LLC reported 48,407,800 ordinary shares (3.1%). The report describes shared authority over customer-account and fund securities, and the related reporting persons disclaim beneficial ownership of those securities.
How many ordinary shares does each CNF ADS represent?
Each American Depositary Share (ADS) represents 200 ordinary shares of CNFinance Holdings Ltd.
What voting and dispositive powers did Neil Gagnon report over CNF shares?
Neil Gagnon reported sole voting and dispositive power over 8,408,800 ordinary shares, shared voting power over 117,655,400 ordinary shares, and shared dispositive power over 118,484,800 ordinary shares.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 3)
CNFinance Holdings Ltd.
(Name of Issuer)
Ordinary Shares
(Title of Class of Securities)
18979T105
(CUSIP Number)
09/30/2026
(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):
18979T105
1
Names of Reporting Persons
Gagnon Securities 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
64,894,800.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
65,198,800.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
65,198,800.00
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)
4.2 %
12
Type of Reporting Person (See Instructions)
BD, IA
Comment for Type of Reporting Person: These Ordinary Shares are held in the form of American Depositary Shares ("ADS"), evidenced by American Depositary Receipts, of the Issuer, which are quoted on the New York Stock Exchange under the symbol "CNF." Each ADS represents two hundred (200) Ordinary Shares. CUSIP number 18979T105 has been assigned to the ADS.
SCHEDULE 13G
CUSIP Number(s):
18979T105
1
Names of Reporting Persons
Gagnon Advisors, 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
48,407,800.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
48,407,800.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
48,407,800.00
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)
3.1 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: These Ordinary Shares are held in the form of American Depositary Shares ("ADS"), evidenced by American Depositary Receipts, of the Issuer, which are quoted on the New York Stock Exchange under the symbol "CNF." Each ADS represents two hundred (200) Ordinary Shares. CUSIP number 18979T105 has been assigned to the ADS.
SCHEDULE 13G
CUSIP Number(s):
18979T105
1
Names of Reporting Persons
Neil Gagnon
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
8,408,800.00
6
Shared Voting Power
117,655,400.00
7
Sole Dispositive Power
8,408,800.00
8
Shared Dispositive Power
118,484,800.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
126,893,600.00
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)
8.1 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: These Ordinary Shares are held in the form of American Depositary Shares ("ADS"), evidenced by American Depositary Receipts, of the Issuer, which are quoted on the New York Stock Exchange under the symbol "CNF." Each ADS represents two hundred (200) Ordinary Shares. CUSIP number 18979T105 has been assigned to the ADS.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
CNFinance Holdings Ltd.
(b)
Address of issuer's principal executive offices:
22/F South Finance CTR, No. 6 Wuheng Road, Tianhe District, Guangzhou City, China 00000
Item 2.
(a)
Name of person filing:
Neil Gagnon has sole voting and dispositive power over 8,408,800 shares of the Issuer's Ordinary Shares (the "Ordinary Shares"). In addition, Mr. Gagnon has shared voting power over 117,655,400 shares of Ordinary Shares and shared dispositive power over 118,484,800 shares of Ordinary Shares.
Mr. Gagnon is the Chief Executive Officer and principal owner of Gagnon Securities LLC ("GS"), an investment adviser registered with the U.S. Securities and Exchange Commission ("SEC") under the Investment Advisers Act of 1940, as amended (the "Advisers Act"), and a registered broker-dealer, in its role as investment manager to several customer accounts, foundations, partnerships and trusts (collectively, the "Accounts") to which it furnishes investment advice. GS and Mr. Gagnon may be deemed to share voting power with respect to 64,894,800 shares of Ordinary Shares held in the Accounts and dispositive power with respect to 65,198,800 shares of Ordinary Shares held in the Accounts. GS and Mr. Gagnon expressly disclaim beneficial ownership of all securities held in the Accounts.
Mr. Gagnon is also the managing member of Gagnon Advisors, LLC ("Gagnon Advisors"), an investment adviser registered with the SEC under the Advisers Act. Mr. Gagnon and Gagnon Advisors, in its role as investment manager to Gagnon Investment Associates, LLC ("GIA"), a private investment fund, may be deemed to share voting and dispositive power with respect to the 48,407,800 shares of Ordinary Shares held by GIA. Gagnon Advisors and Mr. Gagnon expressly disclaim beneficial ownership of all securities held by GIA.
(b)
Address or principal business office or, if none, residence:
1370 Ave. of Americas, 26th Floor, New York, NY 10019
(c)
Citizenship:
Gagnon Securities LLC Delaware limited liability company
Gagnon Advisors, LLC Delaware limited liability company
Neil Gagnon USA
(d)
Title of class of securities:
Ordinary Shares
(e)
CUSIP No.:
18979T105
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).
Gagnon Securities LLC 4.2%
Gagnon Advisors, LLC 3.1%
Neil Gagnon 8.1%
Calculation of percentage of beneficial ownership is based on 1,559,576,960 Ordinary Shares outstanding as of May 6, 2026, based on the Issuer's Form 6-K filed with the Securities and Exchange Commission on May 6, 2026.
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 Accounts described above in Item 2 have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, securities held in their respective accounts. To the knowledge of the Reporting Persons, the interest in any such account does not exceed 5% of the class of securities. Except to the extent described herein, the Reporting Person disclaims beneficial ownership of all such securities.
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 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.
