# EDGAR Filing Document

**Accession Number:** 0002077836
**File Stem:** 0000921895-26-001386
**Filing Date:** 2026-5
**Character Count:** 8703
**Document Hash:** 4bbe728f60a13a9ab518303aba5cefb6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000921895-26-001386.hdr.sgml**: 20260515

**ACCESSION NUMBER**: 0000921895-26-001386

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260515

**DATE AS OF CHANGE**: 20260515

**EFFECTIVENESS DATE**: 20260515

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CDC Financial, Inc.
- **CENTRAL INDEX KEY:** 0002077836

**ORGANIZATION NAME:**
- **EIN:** 320055624
- **STATE OF INCORPORATION:** IL
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-26372
- **FILM NUMBER:** 26987037

**BUSINESS ADDRESS:**
- **STREET 1:** 222 S RIVERSIDE PLAZA
- **STREET 2:** 15TH FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 630-917-2057

**MAIL ADDRESS:**
- **STREET 1:** 222 S RIVERSIDE PLAZA
- **STREET 2:** 15TH FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** CDC Financial Inc.<br>**Address:** 222 S RIVERSIDE PLAZA<br>15TH FLOOR<br>CHICAGO, IL 60606

**Form 13F File Number:** 028-26372

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Clint D. Coghill<br>**Title:** President and sole shareholder<br>**Phone:** 708-512-4458

**Signature, Place, and Date of Signing:**

/s/ Clint D. Coghill  Chicago, IL  05-15-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 49

**Form 13F Information Table Value Total:** $157249372

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name            | Form 13F File Number   |
|:---|:---|:---|
|  | COGHILL CLINT D | 028-26374              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ADVANCED FLOWER CAP INC | COM | 00109K105 |  | 4154362 | 1473178 | SH |  | DFND | 1 | 0 | 1473178 | 0 |
| AERSALE CORPORATION | COM | 00810F106 |  | 1881519 | 302495 | SH |  | DFND | 1 | 0 | 302495 | 0 |
| ALGOMA STL GROUP INC | *W EXP 10/19/202 | 015658115 |  | 412907 | 4153996 | SH |  | DFND | 1 | 0 | 4153996 | 0 |
| ALGOMA STL GROUP INC | COM | 015658107 |  | 6664783 | 1613749 | SH |  | DFND | 1 | 0 | 1613749 | 0 |
| ALGOMA STL GROUP INC | COM | 015658107 |  | 578200 | 140000 | SH | Call | DFND | 1 | 0 | 140000 | 0 |
| AMPLIFY ENERGY CORP NEW | COM | 03212B103 |  | 16145045 | 2587347 | SH |  | DFND | 1 | 0 | 2587347 | 0 |
| APPLE INC | COM | 037833100 |  | 8248175 | 32500 | SH | Put | DFND | 1 | 0 | 32500 | 0 |
| ATLAS ENERGY SOLUTIONS INC | COM NEW | 642045108 |  | 6797354 | 518091 | SH |  | DFND | 1 | 0 | 518091 | 0 |
| ATLAS ENERGY SOLUTIONS INC | COM NEW | 642045108 |  | 4329600 | 330000 | SH | Call | DFND | 1 | 0 | 330000 | 0 |
| CENTURY ALUM CO | COM | 156431108 |  | 14477649 | 246680 | SH |  | DFND | 1 | 0 | 246680 | 0 |
| CHICAGO ATLANTIC BDC INC | COM | 828174102 |  | 1490832 | 159618 | SH |  | DFND | 1 | 0 | 159618 | 0 |
| CHICAGO ATLANTIC REAL ESTATE | COM | 167239102 |  | 1602346 | 141550 | SH |  | DFND | 1 | 0 | 141550 | 0 |
| CINTAS CORP | COM | 172908105 |  | 1183980 | 7000 | SH | Put | DFND | 1 | 0 | 7000 | 0 |
| COMMERCIAL VEH GROUP INC | COM | 202608105 |  | 15867 | 4653 | SH |  | DFND | 1 | 0 | 4653 | 0 |
| CRONOS GROUP INC | COM | 22717L101 |  | 2326348 | 926832 | SH |  | DFND | 1 | 0 | 926832 | 0 |
| GOHEALTH INC | CL A NEW | 38046W204 |  | 1137080 | 753033 | SH |  | DFND | 1 | 0 | 753033 | 0 |
| HEALTH CATALYST INC | COM | 42225T107 |  | 8009959 | 6307054 | SH |  | DFND | 1 | 0 | 6307054 | 0 |
| IMMERSION CORP | COM | 452521107 |  | 7848188 | 1437397 | SH |  | DFND | 1 | 0 | 1437397 | 0 |
| INHIBRX BIOSCIENCES INC | COM | 45720N103 |  | 8372152 | 124530 | SH |  | DFND | 1 | 0 | 124530 | 0 |
| INHIBRX BIOSCIENCES INC | COM | 45720N103 |  | 4168260 | 62000 | SH | Call | DFND | 1 | 0 | 62000 | 0 |
| INNOVATIVE INDL PPTYS INC | COM | 45781V101 |  | 1003200 | 20000 | SH | Put | DFND | 1 | 0 | 20000 | 0 |
| INSPIRED ENTMT INC | COM | 45782N108 |  | 3225933 | 452445 | SH |  | DFND | 1 | 0 | 452445 | 0 |
| INTAPP INC | COM | 45827U109 |  | 537383 | 20918 | SH |  | DFND | 1 | 0 | 20918 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 2020130 | 3500 | SH | Put | DFND | 1 | 0 | 3500 | 0 |
| LEGALZOOM COM INC | COM | 52466B103 |  | 2223009 | 392065 | SH |  | DFND | 1 | 0 | 392065 | 0 |
| MATCH GROUP INC NEW | COM | 57667L107 |  | 905945 | 29500 | SH |  | DFND | 1 | 0 | 29500 | 0 |
| OPERA LTD | SPONSORED ADS | 68373M107 |  | 584660 | 41000 | SH |  | DFND | 1 | 0 | 41000 | 0 |
| RING ENERGY INC | COM | 76680V108 |  | 5293130 | 3459562 | SH |  | DFND | 1 | 0 | 3459562 | 0 |
| RISKIFIED LTD | SHS CL A | M8216R109 |  | 1258928 | 321155 | SH |  | DFND | 1 | 0 | 321155 | 0 |
| RYERSON HLDG CORP | COM | 783754104 |  | 2566317 | 114160 | SH |  | DFND | 1 | 0 | 114160 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 1120020 | 6000 | SH |  | DFND | 1 | 0 | 6000 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 2389376 | 12800 | SH | Call | DFND | 1 | 0 | 12800 | 0 |
| SANUWAVE HEALTH INC | COM | 80303D305 |  | 112385 | 6500 | SH |  | DFND | 1 | 0 | 6500 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 1359150 | 13000 | SH |  | DFND | 1 | 0 | 13000 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 2195550 | 21000 | SH | Call | DFND | 1 | 0 | 21000 | 0 |
| SHENANDOAH TELECOMMUNICATION | COM | 82312B106 |  | 205086 | 13300 | SH |  | DFND | 1 | 0 | 13300 | 0 |
| SIMILARWEB LTD | SHS | M84137104 |  | 1667827 | 639014 | SH |  | DFND | 1 | 0 | 639014 | 0 |
| SPROTT FDS TR | JUNIOR URANIUM | 85208P808 |  | 916777 | 31300 | SH |  | DFND | 1 | 0 | 31300 | 0 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 |  | 9885168 | 15200 | SH | Put | DFND | 1 | 0 | 15200 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 183713 | 3550 | SH |  | DFND | 1 | 0 | 3550 | 0 |
| THRYV HLDGS INC | COM NEW | 886029206 |  | 2969478 | 1083751 | SH |  | DFND | 1 | 0 | 1083751 | 0 |
| TURTLE BEACH CORP | COM NEW | 900450206 |  | 1561377 | 153982 | SH |  | DFND | 1 | 0 | 153982 | 0 |
| UPWORK INC | COM | 91688F104 |  | 515120 | 47000 | SH |  | DFND | 1 | 0 | 47000 | 0 |
| UPWORK INC | COM | 91688F104 |  | 515120 | 47000 | SH | Put | DFND | 1 | 0 | 47000 | 0 |
| VILLAGE FARMS INTL INC | COM | 92707Y108 |  | 76680 | 27000 | SH |  | DFND | 1 | 0 | 27000 | 0 |
| VONTIER CORPORATION | COM | 928881101 |  | 1844440 | 52000 | SH |  | DFND | 1 | 0 | 52000 | 0 |
| VOX ROYALTY CORP | COM | 92919F103 |  | 8684273 | 1657304 | SH |  | DFND | 1 | 0 | 1657304 | 0 |
| WEALTHFRONT CORP | COM | 947002101 |  | 920588 | 99523 | SH |  | DFND | 1 | 0 | 99523 | 0 |
| ZENTALIS PHARMACEUTICALS INC | COM | 98943L107 |  | 664003 | 283762 | SH |  | DFND | 1 | 0 | 283762 | 0 |

---