Carronade reports 7.8% stake in Cannae Holdings

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.

Rhea-AI Filing Summary

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.

Filing Explained

The amendment reports that Carronade has shared, rather than sole, voting and dispositive power over the reported 7.8% position, while each reporting person disclaims ownership of securities it does not directly own. The filing therefore describes attributed ownership mechanics, not direct ownership of every reported share.

Key Figures

Total shares beneficially owned: 3,395,965 shares Ownership percentage: 7.8 % Shares held by Carronade Capital Master: 2,947,370 shares +4 more

7 metrics

Total shares beneficially owned 3,395,965 shares Cannae common shares reported beneficially owned by Carronade and affiliates

Ownership percentage 7.8 % Portion of Cannae’s outstanding common shares beneficially owned by reporting persons

Shares held by Carronade Capital Master 2,947,370 shares Cannae shares owned directly by Carronade Capital Master, about 6.8% of outstanding

Shares in managed accounts 448,595 shares Cannae shares held in managed accounts overseen by Carronade Capital Management, about 1.0% of outstanding

Shares outstanding baseline 43,400,000 shares Cannae common shares outstanding as of July 31, 2026, from Sum of the Parts report

Aggregate purchase price – Carronade Capital Master $53,983,128 Cost of 2,947,370 Cannae shares owned by Carronade Capital Master, excluding commissions

Aggregate purchase price – Managed Accounts $7,224,577 Cost of 448,595 Cannae shares held in managed accounts, excluding commissions

Key Terms

beneficial owner, dispositive power, margin loans, Managed Accounts, +1 more

5 terms

beneficial owner regulatory

"may be deemed the beneficial owner of the 2,947,370 shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

dispositive power regulatory

"Sole Dispositive Power 0.00 10 | Shared Dispositive Power 3,395,965.00"

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.

margin loans financial

"may, at any given time, include margin loans made by brokerage firms"

Margin loans are loans from a brokerage that let an investor borrow money using their existing stocks, bonds or cash as collateral to buy more securities. They matter because borrowing magnifies both gains and losses—like using a lever to move a heavier load—so small market moves can have outsized effects on your returns; investors also pay interest and risk a margin call, where the broker may force sales if collateral falls below required levels.

Managed Accounts financial

"held in certain accounts managed by Carronade Capital Management (the "Managed Accounts")"

Managed accounts are collections of investments owned by an individual or institution but run day-to-day by a professional who buys, sells and allocates assets according to an agreed plan. They matter to investors because they provide tailored oversight, active risk control and potential tax efficiency—like hiring a personal chef to manage your diet—while fees and the manager’s skill directly affect returns.

open market market

"were effected in the open market through various brokerage entities"

An open market is a system where buying and selling of goods, services, or financial assets happen freely without restrictions or special controls. For investors, it means they can trade assets easily and quickly, which helps determine fair prices based on supply and demand. This environment encourages transparency and competition, making it easier to buy or sell with confidence.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What stake in Cannae Holdings (CNNE) does Carronade Capital report?

Carronade Capital Management, LP and affiliates report beneficial ownership of 3,395,965 Cannae Holdings common shares, representing about 7.8% of the 43,400,000 shares outstanding as of July 31, 2026, according to their Amendment No. 3 to a Schedule 13D.

How are Carronade’s Cannae (CNNE) shares held across entities?

Carronade Capital Master directly owns 2,947,370 shares, or about 6.8% of outstanding stock. Managed accounts overseen by Carronade Capital Management hold an additional 448,595 shares, or about 1.0%, bringing total reported beneficial ownership to approximately 7.8% of Cannae’s common shares.

What did Carronade pay for its Cannae (CNNE) position?

Carronade Capital Master paid approximately $53,983,128 for 2,947,370 Cannae shares, excluding commissions. Managed accounts paid about $7,224,577 for 448,595 shares. All purchases used working capital, which may at times include margin loans from brokerage firms.

What share count does Carronade use to calculate its CNNE ownership?

Ownership percentages are calculated against 43,400,000 Cannae common shares outstanding as of July 31, 2026. That share count comes from Cannae’s “Sum of the Parts” report dated July 31, 2026, which the company posted on its website.

How did Carronade acquire its recent Cannae (CNNE) shares?

Carronade states that all recent Cannae share transactions listed in its exhibit were executed in the open market through various brokerage entities. The shares were purchased with working capital, which may include margin loans extended by those brokerage firms in the ordinary course.

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

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Available on EDGAR 08/07/2026 - 06:07 PM Accepted by SEC EDGAR 08/07/2026 - 06:07 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 3)

Cannae Holdings, Inc.

(Name of Issuer)

Common Stock, $0.0001 par value

(Title of Class of Securities)

13765N107

(CUSIP Number)

DAN GROPPER
CARRONADE CAPITAL MANAGEMENT, LP, 17 Old Kings Highway South, Suite 140
Darien, CT, 06820
203-485-0880

MEAGAN REDA, ESQ.
OLSHAN FROME WOLOSKY LLP, 1325 Avenue of the Americas
New York, NY, 10019
212-451-2300

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/05/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 13765N107

1

Name of reporting person

CARRONADE CAPITAL MANAGEMENT, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,395,965.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,395,965.00

11

Aggregate amount beneficially owned by each reporting person

3,395,965.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.8 %

14

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13D

CUSIP Number(s): 13765N107

1

Name of reporting person

Carronade Capital Master, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,947,370.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,947,370.00

11

Aggregate amount beneficially owned by each reporting person

2,947,370.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.8 %

14

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13D

CUSIP Number(s): 13765N107

1

Name of reporting person

CARRONADE CAPITAL GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 2,947,370.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 2,947,370.00

11

Aggregate amount beneficially owned by each reporting person

2,947,370.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.8 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 13765N107

1

Name of reporting person

CARRONADE CAPITAL MANAGEMENT GP, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,395,965.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,395,965.00

11

Aggregate amount beneficially owned by each reporting person

3,395,965.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.8 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 13765N107

1

Name of reporting person

GROPPER DAN

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 3,395,965.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,395,965.00

11

Aggregate amount beneficially owned by each reporting person

3,395,965.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.8 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.0001 par value
(b)	Name of Issuer: Cannae Holdings, Inc.
(c)	Address of Issuer's Principal Executive Offices: C/O CANNAE HOLDINGS, INC., 1701 VILLAGE CENTER CIRCLE, LAS VEGAS, NEVADA , 89134.
Item 1 Comment: The following constitutes Amendment No. 3 to the Schedule 13D filed by the undersigned ("Amendment No. 3"). This Amendment No. 3 amends the Schedule 13D as specifically set forth herein. Unless otherwise defined herein, all capitalized terms used herein shall have the meanings given to them in the Schedule 13D.
Item 3.	Source and Amount of Funds or Other Consideration
	Item 3 is hereby amended and restated to read as follows: The Shares purchased by Carronade and held in certain accounts managed by Carronade Capital Management (the "Managed Accounts") were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business). The aggregate purchase price of the 2,947,370 Shares beneficially owned by Carronade is approximately $53,983,128, excluding brokerage commissions. The aggregate purchase price of the 448,595 Shares held in the Managed Accounts is approximately $7,224,577, excluding brokerage commissions.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated to read as follows: The percentages used in this Schedule 13D are based upon 43,400,000 Shares outstanding, as of July 31, 2026, as reported by the Issuer in its Sum of the Parts report, dated July 31, 2026, which was posted on the Issuer's website. As of the date hereof, Carronade beneficially owns directly 2,947,370 Shares, representing approximately 6.8% of the outstanding Shares. Carronade Capital GP, as the general partner of Carronade, may be deemed the beneficial owner of the 2,947,370 shares of Common Stock owned directly by Carronade, representing approximately 6.8% of the outstanding Shares. As of the date hereof, 448,595 Shares were held in the Managed Accounts, representing approximately 1.0% of the outstanding Shares. Carronade Capital Management, as the investment manager of each of Carronade and the Managed Accounts, may be deemed the beneficial owner of the (i) 2,947,370 Shares beneficially owned directly by Carronade and (ii) 448,595 Shares held in the Managed Accounts, representing approximately 7.8% of the outstanding Shares. Carronade Capital Management GP, as the general partner of Carronade Capital Management, may be deemed the beneficial owner of the (i) 2,947,370 Shares beneficially owned directly by Carronade and (ii) 448,595 Shares held in the Managed Accounts, representing approximately 7.8% of the outstanding Shares. Mr. Gropper, as the Managing Member of Carronade Capital Management GP, may be deemed the beneficial owner of the (i) 2,947,370 Shares beneficially owned directly by Carronade and (ii) 448,595 Shares held in the Managed Accounts, representing approximately 7.8% of the outstanding Shares. The filing of this Amendment No. 3 shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he, she or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he, she or it does not directly own.
(c)	Item 5(c) is hereby amended to add the following: Information concerning transactions in the securities of the Issuer effected by the Reporting Persons during the past sixty days is set forth in Exhibit 1 attached hereto and is incorporated herein by reference. All of the transactions in the securities of the Issuer listed therein were effected in the open market through various brokerage entities.
Item 7.	Material to be Filed as Exhibits.
	Item 7 is hereby amended to add the following exhibit: 1 - Transactions in Securities.

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.

CARRONADE CAPITAL MANAGEMENT, LP

Signature:	/s/ Rinarisa Coronel DeFronze
Name/Title:	Rinarisa Coronel DeFronze, Chief Compliance Officer & Counsel
Date:	08/07/2026

Carronade Capital Master, LP

Signature:	/s/ Rinarisa Coronel DeFronze
Name/Title:	Rinarisa Coronel DeFronze, Authorized Signatory
Date:	08/07/2026

CARRONADE CAPITAL GP, LLC

Signature:	/s/ Rinarisa Coronel DeFronze
Name/Title:	Rinarisa Coronel DeFronze, Authorized Signatory
Date:	08/07/2026

CARRONADE CAPITAL MANAGEMENT GP, LLC

Signature:	/s/ Rinarisa Coronel DeFronze
Name/Title:	Rinarisa Coronel DeFronze, Authorized Signatory
Date:	08/07/2026

GROPPER DAN

Signature:	/s/ Dan Gropper
Name/Title:	Individually
Date:	08/07/2026