# CDC Financial, Inc.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2077836. Source: https://holderbook.com/funds/2077836-cdc-financial-inc/

- Reported value: $238.8M
- Positions: 47
- Weight of the ten largest: 69.7%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $37.0M | 0 | 15.5% | 3 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $27.6M | 0 | 11.6% | 1 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $23.5M | 0 | 9.8% | 3 |
| INHIBRX BIOSCIENCES INC | [INBX](https://holderbook.com/stocks/INBX/) | $16.1M | 140,130 | 6.7% | 3 |
| HEALTH CATALYST INC | [HCAT](https://holderbook.com/stocks/HCAT/) | $14.1M | 7,092,698 | 5.9% | 3 |
| LEGALZOOM COM INC | [LZ](https://holderbook.com/stocks/LZ/) | $11.6M | 1,601,436 | 4.9% | 3 |
| AMPLIFY ENERGY CORP NEW | [AMPY](https://holderbook.com/stocks/AMPY/) | $10.3M | 2,587,347 | 4.3% | 3 |
| ATLAS ENERGY SOLUTIONS INC | [AESI](https://holderbook.com/stocks/AESI/) | $9.2M | 552,750 | 3.8% | 3 |
| IMMERSION CORP | [IMMR](https://holderbook.com/stocks/IMMR/) | $8.8M | 1,293,007 | 3.7% | 3 |
| CENTURY ALUM CO | [CENX](https://holderbook.com/stocks/CENX/) | $8.3M | 181,430 | 3.5% | 3 |
| VOX ROYALTY CORP | [VOXR](https://holderbook.com/stocks/VOXR/) | $8.3M | 1,759,374 | 3.5% | 3 |
| ALGOMA STL GROUP INC | [ASTL](https://holderbook.com/stocks/ASTL/) | $7.2M | 1,745,647 | 3.0% | 3 |
| HUMANA INC | [HUM](https://holderbook.com/stocks/HUM/) | $6.0M | 0 | 2.5% | 1 |
| ADVANCED FLOWER CAP INC | [AFCG](https://holderbook.com/stocks/AFCG/) | $5.6M | 1,797,359 | 2.3% | 3 |
| TURTLE BEACH CORP | [TBCH](https://holderbook.com/stocks/TBCH/) | $4.8M | 236,852 | 2.0% | 3 |
| INSPIRED ENTMT INC | [INSE](https://holderbook.com/stocks/INSE/) | $4.2M | 506,004 | 1.7% | 3 |
| SIMILARWEB LTD | [SMWB](https://holderbook.com/stocks/SMWB/) | $4.1M | 674,233 | 1.7% | 3 |
| RING ENERGY INC | [REI](https://holderbook.com/stocks/REI/) | $3.8M | 3,539,562 | 1.6% | 3 |
| THRYV HLDGS INC | [THRY](https://holderbook.com/stocks/THRY/) | $2.8M | 702,024 | 1.2% | 3 |
| GARMIN LTD | [GRMN](https://holderbook.com/stocks/GRMN/) | $2.1M | 0 | 0.9% | 1 |
| TARGET CORP | [TGT](https://holderbook.com/stocks/TGT/) | $2.0M | 0 | 0.8% | 1 |
| RYERSON HLDG CORP | [RYZ](https://holderbook.com/stocks/RYZ/) | $1.9M | 78,446 | 0.8% | 3 |
| SERVICENOW INC | [NOW](https://holderbook.com/stocks/NOW/) | $1.8M | 11,400 | 0.8% | 2 |
| CHICAGO ATLANTIC REAL ESTATE | [REFI](https://holderbook.com/stocks/REFI/) | $1.8M | 163,704 | 0.7% | 3 |
| CHICAGO ATLANTIC BDC INC | [LIEN](https://holderbook.com/stocks/LIEN/) | $1.7M | 177,391 | 0.7% | 3 |
| VONTIER CORPORATION | [VNT](https://holderbook.com/stocks/VNT/) | $1.4M | 50,000 | 0.6% | 3 |
| SALESFORCE INC | [CRM](https://holderbook.com/stocks/CRM/) | $1.4M | 7,000 | 0.6% | 2 |
| AERSALE CORPORATION | [ASLE](https://holderbook.com/stocks/ASLE/) | $1.4M | 217,495 | 0.6% | 3 |
| INNOVATIVE INDL PPTYS INC | [IIPR](https://holderbook.com/stocks/IIPR/) | $1.2M | 0 | 0.5% | 3 |
| CRONOS GROUP INC | [CRON](https://holderbook.com/stocks/CRON/) | $1.2M | 433,133 | 0.5% | 3 |
| RISKIFIED LTD | [RSKD](https://holderbook.com/stocks/RSKD/) | $1.1M | 219,155 | 0.5% | 3 |
| GROUPON INC | [GRPN](https://holderbook.com/stocks/GRPN/) | $962.4K | 0 | 0.4% | 1 |
| ZENTALIS PHARMACEUTICALS INC | [ZNTL](https://holderbook.com/stocks/ZNTL/) | $862.1K | 177,762 | 0.4% | 2 |
| WEALTHFRONT CORP | [WLTH](https://holderbook.com/stocks/WLTH/) | $854.0K | 95,523 | 0.4% | 2 |
| COREWEAVE INC | [CRWV](https://holderbook.com/stocks/CRWV/) | $666.9K | 0 | 0.3% | 1 |
| DUOS TECHNOLOGIES GROUP INC | [DUOT](https://holderbook.com/stocks/DUOT/) | $480.0K | 40,000 | 0.2% | 1 |
| SPROTT FDS TR | [URNJ](https://holderbook.com/stocks/URNJ/) | $471.6K | 20,300 | 0.2% | 3 |
| OPERA LTD | [OPRA](https://holderbook.com/stocks/OPRA/) | $466.9K | 23,546 | 0.2% | 2 |
| ANTERO RESOURCES CORP | [AR](https://holderbook.com/stocks/AR/) | $421.7K | 12,000 | 0.2% | 1 |
| SHENANDOAH TELECOMMUNICATION | [SHEN](https://holderbook.com/stocks/SHEN/) | $336.3K | 22,300 | 0.1% | 2 |
| NETGEAR INC | [NTGR](https://holderbook.com/stocks/NTGR/) | $326.9K | 14,000 | 0.1% | 1 |
| COURSERA INC | [COUR](https://holderbook.com/stocks/COUR/) | $225.6K | 40,000 | 0.1% | 1 |
| ALGOMA STL GROUP INC | [ASTLW](https://holderbook.com/stocks/ASTLW/) | $124.6K | 4,153,996 | 0.1% | 3 |
| SKINHEALTH SYSTEMS INC | [SKIN](https://holderbook.com/stocks/SKIN/) | $82.4K | 119,000 | 0.0% | 1 |
| MATCH GROUP INC NEW | [MTCH](https://holderbook.com/stocks/MTCH/) | $76.1K | 2,000 | 0.0% | 2 |
| INTERACTIVE BROKERS GROUP IN | [IBKR](https://holderbook.com/stocks/IBKR/) | $43.5K | 500 | 0.0% | 1 |
| C4 THERAPEUTICS INC | [CCCC](https://holderbook.com/stocks/CCCC/) | $4.7K | 1,000 | 0.0% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +4.2% | +14.8% | -10.6% | 89% |
| Q1 2026 | +4.5% | -4.6% | +9.1% | 93% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $238.8M | 47 |
| Q1 2026 | $157.2M | 43 |
| Q4 2025 | $213.6M | 36 |