REFI · Chicago Atlantic Real Estate Finance, Inc.

$10.61 +0.02 (+0.19%) At close · Aug 20

Customer concentration — top 3 customers 23.2% of revenue

3 customers — 23.2% of revenue (the six months ended June 30, 2026)

“As of and for the six months ended June 30, 2026 and 2025, the top three borrowers represented approximately 23.2% and 26.0% of the total interest income, respectively.”

3 customers — 26% of revenue (the six months ended June 30, 2025)

“As of and for the six months ended June 30, 2026 and 2025, the top three borrowers represented approximately 23.2% and 26.0% of the total interest income, respectively.”

3 customers — 31.5% of receivables (June 30, 2026)

“Our total loan portfolio as of June 30, 2026 and December 31, 2025, was concentrated with the top three borrowers representing approximately 31.5% and 25.6% of principal outstanding, respectively.”

One customer — 11.8% of receivables (June 30, 2026)

“The largest loan represented approximately 11.8% and 11.1% of principal outstanding as of June 30, 2026 and December 31, 2025, respectively.”

3 customers — 25.6% of receivables (December 31, 2025)

“Our total loan portfolio as of June 30, 2026 and December 31, 2025, was concentrated with the top three borrowers representing approximately 31.5% and 25.6% of principal outstanding, respectively.”

One customer — 11.1% of receivables (December 31, 2025)

“The largest loan represented approximately 11.8% and 11.1% of principal outstanding as of June 30, 2026 and December 31, 2025, respectively.”

View the 10-Q filed Aug 11, 2026

Market Cap

$275.43M

25.62M

Institutional ownership from SEC Form 13F filings. Investment managers with more than $100 million in U.S. equities must disclose their positions every quarter, within 45 days of quarter-end, so the holdings shown can lag the market by up to a quarter.

Quarter:

Holders: 101

Total Value: $74,370,907

Total Shares: 6,937,925

Institutional Ownership Trend

19 quarters

Holder Concentration

Across 101 13F filers · Δ vs Mar 31, 2026

Top Holder

24.8%

+2.4 pts

Top 5

60.2%

−0.4 pts

Top 10

70.9%

−0.8 pts

HHI

1,051

Broadly held+63

Quarterly Activity

vs Mar 31, 2026

New

Increased

Decreased

Sold Out

Unchanged

Holder count: 0

Institutional value: +3.2%

Shares held: +9.0%

Top Buyers

vs Mar 31, 2026

Institution	Added	Now Holds
Mega BlackRock, Inc.	+293,478	1,719,049
Mega VANGUARD CAPITAL MANAGEMENT LLC	+60,401	788,254
Small Odyssean, LLC	+50,317	63,292
Mega AQR CAPITAL MANAGEMENT LLC	+29,418	48,189
Small Fielder Capital Group LLC	+22,483	982,283

Top Sellers

vs Mar 31, 2026

Institution	Sold	Now Holds
Small Sage Mountain Advisors LLC	−64,446	34,284
Large Quantinno Capital Management LP	−19,739	55,827
Large RENAISSANCE TECHNOLOGIES LLC	−12,400	38,600
Mega STATE STREET CORP	−11,345	499,188
Mega UBS Group AG	−10,553	4,030

Top New Positions

vs Mar 31, 2026

Institution	Acquired	Value (USD)
Mid SEGALL BRYANT & HAMILL, LLC	188,621	$2,022,017
Mega ARROWSTREET CAPITAL, LIMITED PARTNERSHIP	88,975	$953,812
Mega RAYMOND JAMES FINANCIAL INC	48,623	$521,237
Mid Atom Investors LP	42,314	$453,606
Micro Mission Financial Group, LLC	21,818	$233,888

Top Sold-Out Positions

vs Mar 31, 2026

Institution	Previously Held	Last Value (USD)
Mega VAN ECK ASSOCIATES CORP	236,157	$2,673,297
Mega MILLENNIUM MANAGEMENT LLC	49,595	$561,415
Mega SUSQUEHANNA INTERNATIONAL GROUP, LLP	41,280	$467,289
Large GREAT LAKES ADVISORS, LLC	27,384	$309,986
Large ExodusPoint Capital Management, LP	10,150	$114,898

Filter: New 16 Increased 47 Reduced 22 Sold out 16 Unchanged 16

Showing 100 of 101

All Common Calls Puts

Compact Export CSV

Holder

Value (USD)

% of 13F

BlackRock, Inc.

$18,428,203

24.78%

1,719,049

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BLACKROCK FINANCIAL MANAGEMENT INC/DE	68,446	$733,741	4.0%	Sole
BlackRock Investment Management, LLC	59,310	$635,803	3.5%	Sole
BLACKROCK ADVISORS LLC	45,070	$483,150	2.6%	Sole
BlackRock Fund Advisors	1,036,787	$11,114,356	60.3%	Sole
BlackRock Institutional Trust Company, N.A.	502,669	$5,388,611	29.2%	Sole
Aperio Group, LLC	6,767	$72,542	0.4%	Sole

Fielder Capital Group LLC

$10,530,073

14.16%

982,283

VANGUARD CAPITAL MANAGEMENT LLC

$8,450,082

11.36%

788,254

STATE STREET CORP

$5,351,295

7.20%

499,188

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
STATE STREET GLOBAL ADVISORS EUROPE LIMITED joint	499,188	$5,351,295	100.0%	Defined

SEGALL BRYANT & HAMILL, LLC

$2,022,017

2.72%

188,621

CDC Financial, Inc.

$1,754,906

2.36%

163,704

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
COGHILL CLINT D	163,704	$1,754,906	100.0%	Defined

Clayton Partners LLC

$1,665,287

2.24%

155,344

Corient Private Wealth LLC

$1,637,147

2.20%

152,719

NORTHERN TRUST CORP

$1,575,388

2.12%

146,958

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
NORTHERN TRUST CO joint	143,989	$1,543,561	98.0%	Defined
DWS INVESTMENT MANAGEMENT AMERICAS, INC joint	2,969	$31,827	2.0%	Other

VANGUARD PORTFOLIO MANAGEMENT LLC

$1,348,275

1.81%

125,772

VANGUARD FIDUCIARY TRUST CO

$1,242,319

1.67%

115,888

Connor, Clark & Lunn Investment Management Ltd.

$1,220,043

1.64%

113,810

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Manager 1	113,810	$1,220,043	100.0%	Sole

DOLIVER ADVISORS, LP

$1,190,005

1.60%

111,008

Penserra Capital Management LLC

$1,167,215

1.57%

108,882

OSAIC HOLDINGS, INC.

$978,359

1.32%

91,265

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
OSAIC WEALTH, INC.	6,586	$70,601	7.2%	Defined
CW Advisors, LLC	84,095	$901,498	92.1%	Sole
Osaic Advisory Services, LLC	584	$6,260	0.6%	Defined

ARROWSTREET CAPITAL, LIMITED PARTNERSHIP

$953,812

1.28%

88,975

INTREPID CAPITAL MANAGEMENT INC

$792,443

1.07%

73,922

PRICE T ROWE ASSOCIATES INC /MD/

$744,879

1.00%

69,485

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
T. Rowe Price International Ltd	69,485	$744,879	100.0%	Defined

MORGAN STANLEY

$681,736

0.92%

63,595

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
MORGAN STANLEY & CO INTERNATIONAL PLC	496	$5,317	0.8%	Defined
MORGAN STANLEY & CO. LLC	5,878	$63,012	9.2%	Defined
MORGAN STANLEY CAPITAL SERVICES, LLC	25,888	$277,519	40.7%	Defined
MORGAN STANLEY SMITH BARNEY LLC	411	$4,405	0.6%	Defined
PARAMETRIC PORTFOLIO ASSOCIATES LLC	30,922	$331,483	48.6%	Defined

Odyssean, LLC

$678,490

0.91%

63,292

CHARLES SCHWAB INVESTMENT MANAGEMENT INC

$662,110

0.89%

61,764

COMMONWEALTH EQUITY SERVICES, LLC

$621,492

0.84%

57,975

Quantinno Capital Management LP

$598,465

0.80%

55,827

Bank of New York Mellon Corp

$571,460

0.77%

53,308

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Mellon Investments Corporation	23,245	$249,186	43.6%	Defined
The Bank of New York Mellon	30,061	$322,253	56.4%	Defined
Held directly	2	$21	0.0%	Defined

RAYMOND JAMES FINANCIAL INC

$521,237

0.70%

48,623

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
RAYMOND JAMES & ASSOCIATES	48,547	$520,423	99.8%	Defined
Raymond James Financial Services Advisors, Inc.	76	$814	0.2%	Defined

AQR CAPITAL MANAGEMENT LLC

$516,584

0.69%

48,189

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
KEB ASSET MANAGEMENT, LLC	1	$10	0.0%	Other
RF&L WEALTH MANAGEMENT, LLC	6	$64	0.0%	Other
Arax Advisory Partners	481	$5,156	1.0%	Other
HALBERT HARGROVE GLOBAL ADVISORS, LLC	231	$2,476	0.5%	Other
Stokes Family Office, LLC	17	$182	0.0%	Other
Held directly	47,453	$508,696	98.5%	Defined

Atom Investors LP

$453,606

0.61%

42,314

Magnus Financial Group LLC

$426,848

0.57%

39,818

RENAISSANCE TECHNOLOGIES LLC

$413,792

0.56%

38,600

Sage Mountain Advisors LLC

$367,524

0.49%

34,284

Invesco Ltd.

$358,186

0.48%

33,413

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Invesco Advisers, Inc. joint	2,297	$24,623	6.9%	Defined
Invesco Trust Co joint	7,488	$80,271	22.4%	Defined
Invesco Capital Management LLC	23,628	$253,292	70.7%	Defined

Tidal Investments LLC

$357,458

0.48%

33,345

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Amplify Investments, LLC	33,345	$357,458	100.0%	Defined

United Advisor Group, LLC

$354,296

0.48%

33,050

GEODE CAPITAL MANAGEMENT, LLC

$302,678

0.41%

28,235

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
GEODE CAPITAL MANAGEMENT TRUST COMPANY, LLC	28,005	$300,213	99.2%	Defined
Held directly	230	$2,465	0.8%	Defined

Nuveen, LLC

$289,878

0.39%

27,041

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Nuveen Asset Management, LLC joint	9,519	$102,043	35.2%	Defined
TEACHERS ADVISORS, LLC joint	17,522	$187,835	64.8%	Defined

RHUMBLINE ADVISERS

$263,304

0.35%

24,562

ALLIANCEBERNSTEIN L.P.

$261,675

0.35%

24,410

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Equitable Holdings, Inc.	24,410	$261,675	100.0%	Defined

MANUFACTURERS LIFE INSURANCE COMPANY, THE

$247,621

0.33%

23,099

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
MANULIFE FINANCIAL CORP joint	23,099	$247,621	100.0%	Defined

MML INVESTORS SERVICES, LLC

$241,510

0.32%

22,529

Mission Financial Group, LLC

$233,888

0.31%

21,818

Empowered Funds, LLC

$213,027

0.29%

19,872

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Sequoia Financial Group, LLC	19,872	$213,027	100.0%	Other

ENVESTNET ASSET MANAGEMENT INC

$207,421

0.28%

19,349

Cerity Partners LLC

$204,965

0.28%

19,120

DEUTSCHE BANK AG\

$197,516

0.27%

18,425

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
DWS Investments UK Ltd	18,425	$197,516	100.0%	Defined

EVERETT HARRIS & CO /CA/

$197,248

0.27%

18,400

AlTi Global, Inc.

$192,906

0.26%

17,995

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
TIEDEMANN ADVISORS, LLC	17,995	$192,906	100.0%	Defined

Virtus Investment Advisers, LLC

$192,198

0.26%

17,929

BNP PARIBAS ARBITRAGE, SA

$186,956

0.25%

17,440

FMR LLC

$175,261

0.24%

16,349

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
STRATEGIC ADVISERS LLC	16,349	$175,261	100.0%	Defined

WELLS FARGO & COMPANY/MN

$169,633

0.23%

15,824

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
WELLS FARGO BANK N A	15,824	$169,633	100.0%	Defined

MERCER GLOBAL ADVISORS INC /ADV

$157,766

0.21%

14,717

BANK OF AMERICA CORP /DE/

$151,055

0.20%

14,091

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BANK OF AMERICA NA	14,091	$151,055	100.0%	Defined

CITADEL ADVISORS LLC

$132,928

0.18%

12,400

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Citadel Securities GP LLC	12,400	$132,928	100.0%	Defined

Y-Intercept (Hong Kong) Ltd

$131,630

0.18%

12,279

Russell Investments Group, Ltd.

$121,479

0.16%

11,332

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Russell Investment Management, LLC	11,332	$121,479	100.0%	Defined

GOLDMAN SACHS GROUP INC

$111,498

0.15%

10,401

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
GOLDMAN SACHS & CO. LLC	10,401	$111,498	100.0%	Defined

HB Wealth Management, LLC

$110,094

0.15%

10,270

MetLife Investment Management, LLC

$106,771

0.14%

9,960

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
METLIFE INC	9,960	$106,771	100.0%	Defined

CITIGROUP INC

$100,006

0.13%

9,329

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Citigroup Financial Products Inc. joint	9,329	$100,006	100.0%	Defined

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

$93,264

0.13%

8,700

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Global X Management CO LLC joint	8,700	$93,264	100.0%	Defined

Eurizon Capital SGR S.p.A.

$91,484

0.12%

8,534

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Intesa Sanpaolo S.p.A.	8,534	$91,484	100.0%	Other

JPMORGAN CHASE & CO

$85,009

0.11%

7,930

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
JPMorgan Chase Bank, N.A.	7,832	$83,959	98.8%	Defined
J.P. Morgan Securities plc	98	$1,050	1.2%	Defined

SIMPLEX TRADING, LLC

$69,647

0.09%

6,497

Vanguard Global Advisers, LLC

$69,036

0.09%

6,440

NEW YORK STATE COMMON RETIREMENT FUND

$64,727

0.09%

6,038

Police & Firemen's Retirement System of New Jersey

$46,589

0.06%

4,346

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Mellon Capital	4,346	$46,589	100.0%	Defined

UBS Group AG

$43,201

0.06%

4,030

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
UBS AG	4,030	$43,201	100.0%	Defined

STRS OHIO

$34,304

0.05%

3,200

PNC FINANCIAL SERVICES GROUP, INC.

$32,224

0.04%

3,006

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
PNC Bank, National Association	3,006	$32,224	100.0%	Defined

BARCLAYS PLC

$30,176

0.04%

2,815

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BARCLAYS BANK PLC	2,175	$23,316	77.3%	Defined
BARCLAYS CAPITAL INC.	640	$6,860	22.7%	Defined

Geneos Wealth Management Inc.

$24,977

0.03%

2,330

GAMMA Investing LLC

$19,381

0.03%

1,808

MCF Advisors LLC

$17,838

0.02%

1,664

Legal & General Group Plc

$17,559

0.02%

1,638

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Legal & General Investment Management America Inc	1,638	$17,559	100.0%	Defined

ROYAL BANK OF CANADA

$16,614

0.02%

1,550

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
RBC CMA LTD.	579	$6,206	37.4%	Defined
RBC Capital Markets, LLC	970	$10,398	62.6%	Defined
Held directly	1	$10	0.1%	Sole

Ameritas Investment Partners, Inc.

$14,493

0.02%

1,352

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
EATON VANCE MANAGEMENT	1,352	$14,493	100.0%	Other

Arax Advisory Partners

$14,107

0.02%

1,316

Tower Research Capital LLC (TRC)

$12,531

0.02%

1,169

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Latour Trading LLC (Latour)	1,169	$12,531	100.0%	Defined

NISA INVESTMENT ADVISORS, LLC

$7,203

0.01%

672

Westside Investment Management, Inc.

$5,360

0.01%

500

Sterling Capital Management LLC

$4,084

0.01%

381

Atlantic Union Bankshares Corp

$3,773

0.01%

352

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
Atlantic Union Bankshares Corp	352	$3,773	100.0%	Sole

Triumph Capital Management

$2,680

0.00%

250

Integrated Wealth Concepts LLC

$2,090

0.00%

195

Larson Financial Group LLC

$1,854

0.00%

173

IFP Advisors, Inc

$1,822

0.00%

170

Allworth Financial LP

$1,715

0.00%

160

Silver Grove Financial Group, Inc.

$1,297

0.00%

121

Covestor Ltd

$1,018

0.00%

EverSource Wealth Advisors, LLC

$972

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
BMSS Wesson Wealth Solutions, LLC	20	$213	21.9%	Sole
Held directly	71	$759	78.1%	Sole

Allied Private Wealth LLC

$750

0.00%

True Wealth Design, LLC

$536

0.00%

ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/

$514

0.00%

Physician Wealth Advisors, Inc.

$471

0.00%

Ares Financial Consulting, LLC

$471

0.00%

ROTHSCHILD INVESTMENT LLC

$418

0.00%

Essential Partners LLC

$375

0.00%

Farther Finance Advisors, LLC

$321

0.00%

SJS Investment Consulting Inc.

$53

0.00%

Clearstead Advisors, LLC

$21

0.00%

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
SUSQUEHANNA SECURITIES, LLC	28,700	$324,884	100.0%	Other

This filing is a combination report: the position is filed across the managers below.

Manager	Shares	Value (USD)	% of position	Discretion
SUSQUEHANNA SECURITIES, LLC	12,580	$142,405	100.0%	Other

Key facts CIK 1867949 CUSIP 167239102 13F (30d) 90 filings 90 filers Visit website Investor relations