Cannae Holdings, Inc. filings document a NYSE-listed investment holding company with common stock registered under CNNE and portfolio interests in operating businesses. Recent 8-K disclosures cover operating and financial results, shareholder letters, Regulation FD materials such as sum-of-the-parts analysis, annual meeting matters, and capital-structure disclosure.
The filings also record material agreements and financing items, including the termination of a margin loan facility associated with Alight shares held by a Cannae subsidiary. Governance and shareholder-voting disclosures appear alongside exhibits, press releases, and other material-event reports.
Cannae Holdings, Inc. (CNNE) is the issuer in an amended report in which Carronade Capital Management and affiliated reporting persons may be deemed beneficial owners of 3,533,733 shares, approximately 8.8%. Carronade directly owns 2,947,370 shares (approximately 7.3%), while 586,363 shares (approximately 1.4%) are held in accounts managed by Carronade Capital Management. The combined percentage is based on 40,300,000 shares outstanding as of September 30, 2026.
The report identifies Dan Gropper as a reporting person and managing member of Carronade Capital Management GP, LLC; he may be deemed a beneficial owner of the combined position. Carronade's 2,947,370 shares had an aggregate purchase price of approximately $53,983,128, and the Managed Accounts' 586,363 shares had an aggregate purchase price of approximately $9,094,490, both excluding brokerage commissions. Carronade says the shares were purchased with working capital, which may include ordinary-course brokerage margin loans; listed transactions since Amendment No. 3 were effected in the open market through various brokerage entities.
Cannae Holdings, Inc. director Tyler Woodrow acquired 1,019 shares of common stock on September 30, 2026, under the Director Retainer Election Program. The reported price was $15.34 per share. After the acquisition, he directly held 17,361 shares. This was a compensation-related acquisition, not a market transaction.
Cannae Holdings, Inc. director Cherie L. Schaible acquired 2,038 common shares on September 30, 2026, under the Director Retainer Election Program. The reported price was $15.34 per share, and her direct holdings after the acquisition were 12,899 shares.
Cannae Holdings, Inc. director Hugh R. Harris acquired 1,060 shares of Common Stock under the Director Retainer Election Program on September 30, 2026. The transaction lists a price of $15.34 per share. Harris held 71,506 shares directly after the acquisition. This was a program-related award acquisition, not a reported market purchase.
Cannae Holdings, Inc. director Douglas K. Ammerman acquired 2,853 shares of Common Stock on September 30, 2026, under the Director Retainer Election Program. The shares were reported at $15.34 per share, and his directly held position after the acquisition was 74,878 shares.
Cannae Holdings, Inc. CEO Ryan R. Caswell reported equity compensation-related transactions involving restricted stock units and common stock. On 2026-08-13, 33,333 restricted stock units vested and were disposed to the issuer in exchange for 33,333 shares of common stock, as described in a footnote. Following this vesting, Caswell held 366,667 restricted stock units. On the same date, 13,116 shares of common stock were delivered or withheld at $15.56 per share for payment of exercise price or tax liability.
Cannae Holdings reported a swing to profitability for the quarter ended June 30, 2026. Net income attributable to common shareholders was $37.5 million versus a loss of $238.8 million a year earlier, aided by investment gains and improved results from unconsolidated affiliates.
Total operating revenues were $102.2 million, down from $110.2 million, as Restaurant Group sales softened. The company recorded a $32.1 million goodwill impairment on its 99 Restaurants reporting unit, contributing to an operating loss of $56.8 million. However, other income was strong, led by an $83.4 million unrealized gain from the remeasurement of its SpaceX stake after the IPO, lifting Recognized gains (losses), net to $82.8 million from a $76.2 million loss.
Cash and cash equivalents declined to $70.4 million from $182.0 million at year-end, reflecting $44.3 million of share repurchases, $13.5 million of dividends, and new investments including the Exeter Rugby acquisition and additional funding into Black Knight Football. Notes payable were modest at $69.9 million against total equity of $911.9 million. The company also terminated a margin loan facility, classified Brasada Ranch as held for sale and agreed to sell its Watkins stake for $90.0 million in cash after quarter-end.
Cannae Holdings reported a strong turnaround for the three months ended June 30, 2026, with net earnings attributable to common shareholders of $37.5 million, compared to a loss of $238.8 million a year earlier, and basic EPS of $0.86 versus a loss of $3.93.
Results were driven by recognized gains of $82.8 million, equity income from unconsolidated affiliates such as Black Knight Football, and despite a $32.1 million goodwill impairment and continued weakness in the consolidated Restaurant Group, which posted a twelve‑month revenue decline to $373.4 million and a net loss of $88.5 million.
Strategically, Cannae advanced its portfolio shift toward sports and entertainment: it sold two non‑core assets including The Watkins Company for $90 million in cash (about 1.2x invested capital), acquired 100% of Exeter Rugby Group at a £32.6 million enterprise value, and continued investing in Black Knight Football, which generated trailing‑twelve‑month revenue of $301.3 million and EBITDA of $207.4 million. Cannae also repurchased 3.4 million shares year‑to‑date for $44 million, and ended the quarter with $70.4 million of cash and $911.9 million of total equity.
Carronade Capital Management, LP and affiliated entities filed Amendment No. 3 to their Schedule 13D reporting beneficial ownership of 3,395,965 shares of Cannae Holdings common stock, or 7.8% of the 43,400,000 shares outstanding as of July 31, 2026.
Carronade Capital Master directly holds 2,947,370 shares (about 6.8%), while managed accounts overseen by Carronade Capital Management hold 448,595 shares (about 1.0%). The Master fund paid approximately $53,983,128 and the managed accounts $7,224,577 for these positions, using working capital that may include margin loans, and recent open‑market transactions are detailed in an attached exhibit.
Cannae Holdings, Inc. sold all of its interest in Watkins Holdings, LLC for cash proceeds of $90 million. The company also describes the deal as a sale of its ownership stake in The Watkins Company, a flavoring business focused on extracts, spices and seasonings, to KDSA Investment Partners.
Cannae invested $80 million in Watkins in October 2024. Including sale proceeds, preferred dividends and fees, the investment produced a multiple on invested capital of approximately 1.2x and an IRR of nearly 10% in less than two years. Management frames the transaction as monetizing a non-core asset and advancing a portfolio transformation toward sports and entertainment-related holdings, with flexibility to redeploy capital or return it to shareholders.