Cannae Holdings: Carronade reports about 8.8% stake

The disclosed stake combines Carronade's directly held fund shares with shares held in accounts managed by its investment manager.

Rhea-AI Filing Summary

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.

Key Figures

Beneficially owned shares: 3,533,733 shares Carronade shares directly owned: 2,947,370 shares Shares held in Managed Accounts: 586,363 shares +3 more

6 metrics

Beneficially owned shares 3,533,733 shares Carronade Capital Management and affiliated reporting persons; approximately 8.8%

Carronade shares directly owned 2,947,370 shares Approximately 7.3% of outstanding shares

Shares held in Managed Accounts 586,363 shares Approximately 1.4% of outstanding shares

Shares outstanding 40,300,000 shares As of September 30, 2026

Aggregate purchase price Approximately $53,983,128 For 2,947,370 shares beneficially owned by Carronade, excluding brokerage commissions

Aggregate purchase price Approximately $9,094,490 For 586,363 shares held in Managed Accounts, excluding brokerage commissions

Key Terms

beneficially owns, Shared Voting Power, Shared Dispositive Power, working capital, +1 more

5 terms

beneficially owns regulatory

"Carronade beneficially owns directly 2,947,370 Shares"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

Shared Voting Power regulatory

"Shared Voting Power 3,533,733.00"

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 Power regulatory

"Shared Dispositive Power 3,533,733.00"

working capital financial

"purchased with working capital"

Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.

margin loans financial

"margin loans made by brokerage firms in the ordinary course"

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.

FAQ

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

How many CNNE shares do Carronade-related reporting persons report owning?

Carronade Capital Management and affiliated reporting persons may be deemed beneficial owners of 3,533,733 CNNE shares, approximately 8.8%. This includes 2,947,370 shares directly owned by Carronade and 586,363 shares held in Managed Accounts.

How were Carronade's CNNE shares funded and traded?

Carronade says the shares purchased and held by it and the Managed Accounts were purchased with working capital, which may include margin loans made by brokerage firms in the ordinary course. Transactions listed since Amendment No. 3 were effected in the open market through various brokerage entities.

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

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Available on EDGAR 10/05/2026 - 07:00 PM Accepted by SEC EDGAR 10/05/2026 - 06:59 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. 4)

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)

10/01/2026

(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 3,533,733.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,533,733.00

11

Aggregate amount beneficially owned by each reporting person

3,533,733.00

12

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

13

Percent of class represented by amount in Row (11)

8.8 %

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)

7.3 %

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)

7.3 %

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 3,533,733.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,533,733.00

11

Aggregate amount beneficially owned by each reporting person

3,533,733.00

12

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

13

Percent of class represented by amount in Row (11)

8.8 %

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 3,533,733.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 3,533,733.00

11

Aggregate amount beneficially owned by each reporting person

3,533,733.00

12

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

13

Percent of class represented by amount in Row (11)

8.8 %

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. 4 to the Schedule 13D filed by the undersigned ("Amendment No. 4"). This Amendment No. 4 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 586,363 Shares held in the Managed Accounts is approximately $9,094,490, 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 40,300,000 Shares outstanding, as of September 30, 2026, as reported by the Issuer in its Sum of the Parts report, dated September 30, 2026, which was posted on the Issuer's website. As of the date hereof, Carronade beneficially owns directly 2,947,370 Shares, representing approximately 7.3% 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 7.3% of the outstanding Shares. As of the date hereof, 586,363 Shares were held in the Managed Accounts, representing approximately 1.4% 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) 586,363 Shares held in the Managed Accounts, representing approximately 8.8% 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) 586,363 Shares held in the Managed Accounts, representing approximately 8.8% 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) 586,363 Shares held in the Managed Accounts, representing approximately 8.8% of the outstanding Shares. The filing of this Amendment No. 4 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 since the filing of Amendment No. 3 to the Schedule 13D 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:	10/05/2026

Carronade Capital Master, LP

Signature:	/s/ Rinarisa Coronel DeFronze
Name/Title:	Rinarisa Coronel DeFronze, Authorized Signatory
Date:	10/05/2026

CARRONADE CAPITAL GP, LLC

Signature:	/s/ Rinarisa Coronel DeFronze
Name/Title:	Rinarisa Coronel DeFronze, Authorized Signatory
Date:	10/05/2026

CARRONADE CAPITAL MANAGEMENT GP, LLC

Signature:	/s/ Rinarisa Coronel DeFronze
Name/Title:	Rinarisa Coronel DeFronze, Authorized Signatory
Date:	10/05/2026

GROPPER DAN

Signature:	/s/ Dan Gropper
Name/Title:	Individually
Date:	10/05/2026