CDC Financial, Inc. Hedge Fund

CIK: 0002077836 · Show all filings

Period: Q4 2025

Filing Date: Feb 13, 2026

Total Value ($000): $213,626 (100.0% shares, 0.0% debt)

Holdings (40)

SPY SPDR S&P 500 ETF TR 15.0%

Value ($000) $32,116 Shares 46,400 Est. Cost — Unrealized —

QQQ INVESCO QQQ TR 13.6%

Value ($000) $29,054 Shares 47,500 Est. Cost — Unrealized —

AMPY AMPLIFY ENERGY CORP NEW 7.7%

Value ($000) $16,394 Shares 3,587,347 Est. Cost $4.98 Unrealized 0.0%

CENX CENTURY ALUM CO 6.3%

Value ($000) $13,486 Shares 344,200 Est. Cost $31.24 Unrealized 0.0%

IWM ISHARES TR 6.3%

Value ($000) $13,405 Shares 52,800 Est. Cost — Unrealized —

IMMR IMMERSION CORP 4.6%

Value ($000) $9,774 Shares 1,437,397 Est. Cost $6.78 Unrealized 0.0%

HCAT HEALTH CATALYST INC 4.5%

Value ($000) $9,565 Shares 4,002,046 Est. Cost $2.73 Unrealized 0.0%

AAPL APPLE INC 4.1%

Value ($000) $8,835 Shares 32,500 Est. Cost — Unrealized —

INBX INHIBRX BIOSCIENCES INC 4.1%

Value ($000) $8,754 Shares 110,810 Est. Cost $68.13 Unrealized 0.0%

ASTL ALGOMA STL GROUP INC 3.0%

Value ($000) $6,481 Shares 1,580,749 Est. Cost $3.99 Unrealized 0.0%

VOXR VOX ROYALTY CORP 2.8%

Value ($000) $5,995 Shares 1,264,804 Est. Cost $4.52 Unrealized 0.0%

ASTLW ALGOMA STL GROUP INC 2.7%

Value ($000) $5,724 Shares 4,152,696 Est. Cost $1.38 Unrealized —

AESI ATLAS ENERGY SOLUTIONS INC 2.6%

Value ($000) $5,577 Shares 592,091 Est. Cost $10.11 Unrealized 0.0%

ASTL ALGOMA STL GROUP INC 2.1%

Value ($000) $4,592 Shares 927,600 Est. Cost $3.99 Unrealized 0.0%

THRY THRYV HLDGS INC 1.8%

Value ($000) $3,812 Shares 630,112 Est. Cost $7.92 Unrealized 0.0%

REI RING ENERGY INC 1.7%

Value ($000) $3,635 Shares 4,177,870 Est. Cost $0.95 Unrealized 0.0%

RYZ RYERSON HLDG CORP 1.6%

Value ($000) $3,375 Shares 134,160 Est. Cost $23.00 Unrealized 0.0%

TFC TRUIST FINL CORP 1.5%

Value ($000) $3,199 Shares 65,000 Est. Cost — Unrealized —

INSE INSPIRED ENTMT INC 1.4%

Value ($000) $2,986 Shares 319,009 Est. Cost $8.42 Unrealized 0.0%

AESI ATLAS ENERGY SOLUTIONS INC 1.2%

Value ($000) $2,638 Shares 280,000 Est. Cost $10.11 Unrealized 0.0%

CRON CRONOS GROUP INC 1.2%

Value ($000) $2,490 Shares 946,832 Est. Cost $2.59 Unrealized 0.0%

ASLE AERSALE CORPORATION 1.1%

Value ($000) $2,431 Shares 341,865 Est. Cost $7.02 Unrealized 0.0%

VNT VONTIER CORPORATION 1.1%

Value ($000) $2,394 Shares 64,400 Est. Cost $38.27 Unrealized 0.0%

AFCG ADVANCED FLOWER CAP INC 0.8%

Value ($000) $1,759 Shares 617,203 Est. Cost $3.18 Unrealized 0.0%

SBUX STARBUCKS CORP 0.8%

Value ($000) $1,705 Shares 17,300 Est. Cost — Unrealized —

GOCO GOHEALTH INC 0.7%

Value ($000) $1,516 Shares 704,901 Est. Cost $3.42 Unrealized 0.0%

REFI CHICAGO ATLANTIC REAL ESTATE 0.7%

Value ($000) $1,487 Shares 121,300 Est. Cost $12.26 Unrealized —

LIEN CHICAGO ATLANTIC BDC INC 0.6%

Value ($000) $1,313 Shares 127,118 Est. Cost $10.14 Unrealized 0.0%

TBCH TURTLE BEACH CORP 0.6%

Value ($000) $1,270 Shares 90,520 Est. Cost $14.87 Unrealized 0.0%

CENX CENTURY ALUM CO 0.6%

Value ($000) $1,177 Shares 22,600 Est. Cost $31.24 Unrealized 0.0%

SMWB SIMILARWEB LTD 0.5%

Value ($000) $1,062 Shares 141,723 Est. Cost $8.06 Unrealized 0.0%

LOGI LOGITECH INTL S A 0.5%

Value ($000) $1,012 Shares 10,100 Est. Cost — Unrealized —

IIPR INNOVATIVE INDL PPTYS INC 0.4%

Value ($000) $947 Shares 20,000 Est. Cost — Unrealized —

UPWK UPWORK INC 0.4%

Value ($000) $932 Shares 47,000 Est. Cost — Unrealized —

LZ LEGALZOOM COM INC 0.4%

Value ($000) $834 Shares 84,000 Est. Cost $9.91 Unrealized 0.0%

URNJ SPROTT FDS TR 0.4%

Value ($000) $789 Shares 31,300 Est. Cost $25.20 Unrealized —

RSKD RISKIFIED LTD 0.3%

Value ($000) $724 Shares 145,681 Est. Cost $4.81 Unrealized 0.0%

TECK TECK RESOURCES LTD 0.1%

Value ($000) $170 Shares 3,550 Est. Cost $43.32 Unrealized 0.0%

ISPO INSPIRATO INCORPORATED 0.1%

Value ($000) $150 Shares 36,000 Est. Cost $2.96 Unrealized 0.0%

THRY THRYV HLDGS INC 0.0%

Value ($000) $67 Shares 11,000 Est. Cost $7.92 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPY	SPDR S&P 500 ETF TR	46,400	$32,116	15.0%	—	—	Put	78462F103
QQQ	INVESCO QQQ TR	47,500	$29,054	13.6%	—	—	Put	46090E103
AMPY	AMPLIFY ENERGY CORP NEW	3,587,347	$16,394	7.7%	$4.98	0.0%	COM	03212B103
CENX	CENTURY ALUM CO	344,200	$13,486	6.3%	$31.24	0.0%	COM	156431108
IWM	ISHARES TR	52,800	$13,405	6.3%	—	—	Put	464287655
IMMR	IMMERSION CORP	1,437,397	$9,774	4.6%	$6.78	0.0%	COM	452521107
HCAT	HEALTH CATALYST INC	4,002,046	$9,565	4.5%	$2.73	0.0%	COM	42225T107
AAPL	APPLE INC	32,500	$8,835	4.1%	—	—	Put	037833100
INBX	INHIBRX BIOSCIENCES INC	110,810	$8,754	4.1%	$68.13	0.0%	COM	45720N103
ASTL	ALGOMA STL GROUP INC	1,580,749	$6,481	3.0%	$3.99	0.0%	COM	015658107
VOXR	VOX ROYALTY CORP	1,264,804	$5,995	2.8%	$4.52	0.0%	COM	92919F103
ASTLW	ALGOMA STL GROUP INC	4,152,696	$5,724	2.7%	$1.38	—	*W EXP 10/19/202	015658115
AESI	ATLAS ENERGY SOLUTIONS INC	592,091	$5,577	2.6%	$10.11	0.0%	COM NEW	642045108
ASTL	ALGOMA STL GROUP INC	927,600	$4,592	2.1%	$3.99	0.0%	Call	015658107
THRY	THRYV HLDGS INC	630,112	$3,812	1.8%	$7.92	0.0%	COM NEW	886029206
REI	RING ENERGY INC	4,177,870	$3,635	1.7%	$0.95	0.0%	COM	76680V108
RYZ	RYERSON HLDG CORP	134,160	$3,375	1.6%	$23.00	0.0%	COM	783754104
TFC	TRUIST FINL CORP	65,000	$3,199	1.5%	—	—	Put	89832Q109
INSE	INSPIRED ENTMT INC	319,009	$2,986	1.4%	$8.42	0.0%	COM	45782N108
AESI	ATLAS ENERGY SOLUTIONS INC	280,000	$2,638	1.2%	$10.11	0.0%	Call	642045108
CRON	CRONOS GROUP INC	946,832	$2,490	1.2%	$2.59	0.0%	COM	22717L101
ASLE	AERSALE CORPORATION	341,865	$2,431	1.1%	$7.02	0.0%	COM	00810F106
VNT	VONTIER CORPORATION	64,400	$2,394	1.1%	$38.27	0.0%	COM	928881101
AFCG	ADVANCED FLOWER CAP INC	617,203	$1,759	0.8%	$3.18	0.0%	COM	00109K105
SBUX	STARBUCKS CORP	17,300	$1,705	0.8%	—	—	Put	855244109
GOCO	GOHEALTH INC	704,901	$1,516	0.7%	$3.42	0.0%	CL A NEW	38046W204
REFI	CHICAGO ATLANTIC REAL ESTATE	121,300	$1,487	0.7%	$12.26	—	COM	167239102
LIEN	CHICAGO ATLANTIC BDC INC	127,118	$1,313	0.6%	$10.14	0.0%	COM	828174102
TBCH	TURTLE BEACH CORP	90,520	$1,270	0.6%	$14.87	0.0%	COM NEW	900450206
CENX	CENTURY ALUM CO	22,600	$1,177	0.6%	$31.24	0.0%	Call	156431108
SMWB	SIMILARWEB LTD	141,723	$1,062	0.5%	$8.06	0.0%	SHS	M84137104
LOGI	LOGITECH INTL S A	10,100	$1,012	0.5%	—	—	Put	H50430232
IIPR	INNOVATIVE INDL PPTYS INC	20,000	$947	0.4%	—	—	Put	45781V101
UPWK	UPWORK INC	47,000	$932	0.4%	—	—	Put	91688F104
LZ	LEGALZOOM COM INC	84,000	$834	0.4%	$9.91	0.0%	COM	52466B103
URNJ	SPROTT FDS TR	31,300	$789	0.4%	$25.20	—	JUNIOR URANIUM	85208P808
RSKD	RISKIFIED LTD	145,681	$724	0.3%	$4.81	0.0%	SHS CL A	M8216R109
TECK	TECK RESOURCES LTD	3,550	$170	0.1%	$43.32	0.0%	CL B	878742204
ISPO	INSPIRATO INCORPORATED	36,000	$150	0.1%	$2.96	0.0%	CL A NEW	45791E206
THRY	THRYV HLDGS INC	11,000	$67	0.0%	$7.92	0.0%	Call	886029206