Cannae Holdings, Inc. (CNNE)

In August 2025, Cannae closed Clearlake Capital's acquisition of Dun & Bradstreet, receiving $630 million in proceeds. Following strategic asset sales, Cannae returned substantial capital to shareholders, including $275 million in stock repurchases year-to-date by Q3 2025 and $8 million in Q3 2025 dividends. Cannae increased its ownership in JANA Partners to 50% for $67.5 million in Q3 2025. Cannae Holdings reported Q3 2025 EPS of -$1.25, missing forecasts, with revenue slightly below expectations. Shareholders approved proposals to declassify the Board and ratify the auditor's appointment at the 2025 Annual Meeting of Shareholders. As of January 5, 2026, the share price was $15.86, representing a decline of 19.78% from January 6, 2025.

Information regarding specific demand seasonality for Cannae Holdings, Inc.'s products and services is not readily available. There is no overarching demand seasonality for Cannae Holdings, Inc. as a consolidated entity.

Cannae Holdings, Inc. is a diversified holding company that makes principal investments across various sectors, including financial services, technology-enabled healthcare, and restaurants. Established in 2017 as a spin-off from Fidelity National Financial, it operates as a strategic engine, acquiring significant stakes in businesses and actively managing them to drive long-term value. Its major investments include restaurant groups like O'Charley's and 99 Restaurants, Black Knight Football Club (AFC Bournemouth), a 50% stake in JANA Partners, and previously Dun & Bradstreet Holdings, Inc. (D&B). Cannae has been rebalancing its portfolio, shifting from large public company holdings to proprietary private investments with positive cash flows, particularly in sports and sports-related assets.

Cannae Holdings, Inc. is headquartered in Las Vegas, Nevada, and primarily operates across the United States through its subsidiary, Cannae Holdings, LLC. Its investments extend internationally, including ownership of AFC Bournemouth in the UK and FC Lorient in France. In June 2024, Cannae Holdings officially changed its state of incorporation from Delaware to Nevada.

Cannae Holdings, Inc.'s brand reputation has been impacted by a proxy contest with activist investor Carronade Capital, particularly in late 2025. Carronade Capital pushed for board changes, criticizing Cannae's governance and shareholder returns. While shareholders approved the declassification of the Board, they rejected an advisory vote on executive compensation. Cannae's management highlighted its strategic transformation and efforts to drive long-term shareholder value.

Cannae Holdings, Inc. has a widely distributed ownership structure among institutional investors, company insiders, and the public market. Institutional investors hold approximately 88.12% of Cannae's stock, with key shareholders including BlackRock, Inc. and The Vanguard Group, Inc. Company insiders maintain a significant stake, representing about 10.90% of the stock, with notable individual direct holders including William P. Foley II and Ryan R. Caswell. Insider buying has generally outweighed selling in the past three months.