REFI · Chicago Atlantic Real Estate Finance, Inc. · Shareholders & Ownership

$9.32 -0.09 (-0.90%)

Russell 2000 member Rebalance outlook locked

Customer concentration — top 3 customers 23.2% of revenue

3 customers — 23.2% of revenue (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 (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

$240.84M

25.62M

Volume · Oct 23 13.48K Avg daily vol (3M) 196.57K

Every disclosed holder of REFI in one list: 13F institutions, Schedule 13D and 13G filers, insiders (Forms 3, 4 and 5) and registered funds, each from its own latest filing. Holders nest by CIK and SEC reporting links, never by name, and each is summed once.

How the holder list picks a filing →

Who Owns REFI

13F quarter Sep 30, 2026, combined view: filers that have not filed yet carry their Jun 30, 2026 positions

Holder group	Holders	Shares	% Out	Summed
Institutional (13F)	101	6,965,302	27.19%	Yes
Insiders (Forms 3, 4, 5)	10	2,090,986	8.16%	Yes
13D/G-only blocks	0	0	0.00%	Yes
Remaining	—	16,564,858	64.65%	Rest
Registered funds (N-PORT, not summed)	79	2,485,755	9.70%	No

Shares outstanding: 25,621,146, the issuer's latest cover-page count restated onto today's split basis.

13D/G-only counts each filer's latest 13D or 13G that no 13F report of the listing contains, that names no 13F filer and that no counted insider files. Funds are never summed: their shares sit inside their advisers' 13F reports.

Holders of REFI

One row per holder Every filing By ultimate parent

All 13F Funds Insiders 13D/G Non-US

#	Holder	Shares	% Out	Change	As of	Notes
1	BlackRock, Inc. 13F CIK 2012383 · Holding company · Jun 30, 2026 carried, not yet filed for the newest quarter	1,719,049	6.71%	+293,478	Jun 30, 2026	carried, not yet filed for the newest quarter
1.1	iShares Russell 2000 ETF Fund S000004344 · Registered fund · Jun 30, 2026 iShares Trust, not summed	548,268	2.14%	+96,820	Jun 30, 2026	iShares Trust, not summed
1.2	iShares Mortgage Real Estate ETF Fund S000015626 · Registered fund · Jun 30, 2026 iShares Trust, not summed	214,812	0.84%	+766	Jun 30, 2026	iShares Trust, not summed
1.3	iShares Russell 2000 Value ETF Fund S000004342 · Registered fund · Jun 30, 2026 iShares Trust, not summed	200,952	0.78%	+45,624	Jun 30, 2026	iShares Trust, not summed
1.4	iShares Micro-Cap ETF Fund S000004439 · Registered fund · Jun 30, 2026 iShares Trust, not summed	63,282	0.25%	+17,370	Jun 30, 2026	iShares Trust, not summed
1.5	Master Small Cap Index Series Fund S000002716 · Registered fund · Jun 30, 2026 Quantitative Master Series LLC, not summed	39,316	0.15%	+10,689	Jun 30, 2026	Quantitative Master Series LLC, not summed
2	Fielder Capital Group LLC 13F CIK 2010765 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	982,283	3.83%	+22,483	Jun 30, 2026	carried, not yet filed for the newest quarter
3	VANGUARD CAPITAL MANAGEMENT LLC 13F CIK 2100119 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	788,254	3.08%	+60,401	Jun 30, 2026	carried, not yet filed for the newest quarter
4	VANGUARD TOTAL STOCK MARKET INDEX FUND Fund S000002848 · Registered fund · Jun 30, 2026 VANGUARD INDEX FUNDS, not summed	570,761	2.23%	+61,134	Jun 30, 2026	VANGUARD INDEX FUNDS, not summed
5	Mazarakis John Insider CIK 1867660 · Aug 27, 2026 Director, Executive Chairman, issuer-wide	563,086	2.20%	+47,711	Aug 27, 2026	Director, Executive Chairman, issuer-wide
6	STATE STREET CORP 13F CIK 93751 · Bank · Jun 30, 2026 carried, not yet filed for the newest quarter	499,188	1.95%	-11,345	Jun 30, 2026	carried, not yet filed for the newest quarter
6.1	STATE STREET SMALL/MID CAP EQUITY INDEX PORTFOLIO Fund S000050332 · Registered fund · Jun 30, 2026 STATE STREET INSTITUTIONAL INVESTMENT TRUST, not summed	6,800	0.03%	-1,300	Jun 30, 2026	STATE STREET INSTITUTIONAL INVESTMENT TRUST, not summed
6.2	State Street Total Return V.I.S. Fund Fund S000001637 · Registered fund · Jun 30, 2026 STATE STREET VARIABLE INSURANCE SERIES FUNDS INC, not summed	464	0.00%	0	Jun 30, 2026	STATE STREET VARIABLE INSURANCE SERIES FUNDS INC, not summed
6.3	State Street Balanced Index Fund Fund S000082802 · Registered fund · Jun 30, 2026 STATE STREET INSTITUTIONAL INVESTMENT TRUST, not summed	189	0.00%	0	Jun 30, 2026	STATE STREET INSTITUTIONAL INVESTMENT TRUST, not summed
7	Cappell Anthony Insider CIK 1897431 · Aug 17, 2026 Director, Co-Chief Executive Officer, issuer-wide	466,706	1.82%	+45,000	Aug 17, 2026	Director, Co-Chief Executive Officer, issuer-wide
8	Bodmeier Andreas Insider CIK 1867951 · Apr 1, 2025 President and CIO, issuer-wide	391,534	1.53%	+28,398	Apr 1, 2025	President and CIO, issuer-wide
9	Steiner Michael L. Insider CIK 1893939 · Apr 1, 2025 Director, issuer-wide	274,109	1.07%	+42,100	Apr 1, 2025	Director, issuer-wide
10	VANGUARD EXTENDED MARKET INDEX FUND Fund S000002841 · Registered fund · Jun 30, 2026 VANGUARD INDEX FUNDS, not summed	199,009	0.78%	-733	Jun 30, 2026	VANGUARD INDEX FUNDS, not summed
11	SEGALL BRYANT & HAMILL, LLC 13F CIK 1006378 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	188,621	0.74%	+188,621	Jun 30, 2026	carried, not yet filed for the newest quarter
12	CDC Financial, Inc. 13F CIK 2077836 · Unknown · Jun 30, 2026 carried, not yet filed for the newest quarter	163,704	0.64%	+22,154	Jun 30, 2026	carried, not yet filed for the newest quarter
13	Clayton Partners LLC 13F CIK 1550509 · Investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	155,344	0.61%	+5,000	Jun 30, 2026	carried, not yet filed for the newest quarter
14	Corient Private Wealth LLC 13F CIK 1948780 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	152,719	0.60%	-3,498	Jun 30, 2026	carried, not yet filed for the newest quarter
15	NORTHERN TRUST CORP 13F CIK 73124 · Bank · Jun 30, 2026 carried, not yet filed for the newest quarter	146,958	0.57%	+5,485	Jun 30, 2026	carried, not yet filed for the newest quarter
15.1	Small Cap Index Fund Fund S000001245 · Registered fund · Jun 30, 2026 Northern Funds, not summed	8,379	0.03%	+947	Jun 30, 2026	Northern Funds, not summed
16	DOLIVER ADVISORS, LP 13F CIK 938077 · Registered investment adviser · Sep 30, 2026	128,782	0.50%	+17,774	Sep 30, 2026
17	VANGUARD PORTFOLIO MANAGEMENT LLC 13F CIK 2100121 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	125,772	0.49%	+21,439	Jun 30, 2026	carried, not yet filed for the newest quarter
18	Sack Peter Insider CIK 1897415 · Aug 19, 2026 Director, Co-Chief Executive Officer, issuer-wide	123,356	0.48%	+5,000	Aug 19, 2026	Director, Co-Chief Executive Officer, issuer-wide
19	VANGUARD FIDUCIARY TRUST CO 13F CIK 933478 · Unknown · Jun 30, 2026 carried, not yet filed for the newest quarter	115,888	0.45%	+1,593	Jun 30, 2026	carried, not yet filed for the newest quarter
20	Connor, Clark & Lunn Investment Management Ltd. 13F CIK 1596800 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	113,810	0.44%	-2,459	Jun 30, 2026	carried, not yet filed for the newest quarter
21	Penserra Capital Management LLC 13F CIK 1593324 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	108,882	0.43%	+14,100	Jun 30, 2026	carried, not yet filed for the newest quarter
22	Kite David Insider CIK 1884240 · Apr 20, 2026 Chief Operating Officer, issuer-wide	96,615	0.38%	+37,099	Apr 20, 2026	Chief Operating Officer, issuer-wide
23	Hoya Capital High Dividend Yield ETF Fund S000073033 · Registered fund · May 31, 2026 ETF Series Solutions, not summed	95,391	0.37%	+4,148	May 31, 2026	ETF Series Solutions, not summed
24	VANGUARD RUSSELL 2000 INDEX FUND Fund S000030003 · Registered fund · May 31, 2026 VANGUARD SCOTTSDALE FUNDS, not summed	93,204	0.36%	+3,487	May 31, 2026	VANGUARD SCOTTSDALE FUNDS, not summed
25	OSAIC HOLDINGS, INC. 13F CIK 1677044 · Holding company · Jun 30, 2026 carried, not yet filed for the newest quarter	91,265	0.36%	+7,213	Jun 30, 2026	carried, not yet filed for the newest quarter
26	ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 13F CIK 1164508 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	88,975	0.35%	+88,975	Jun 30, 2026	carried, not yet filed for the newest quarter
27	INTREPID CAPITAL MANAGEMENT INC 13F CIK 1092838 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	73,922	0.29%	0	Jun 30, 2026	carried, not yet filed for the newest quarter
27.1	Intrepid Capital Fund Fund S000000841 · Registered fund · Jun 30, 2026 Intrepid Capital Management Funds Trust, not summed	61,878	0.24%	0	Jun 30, 2026	Intrepid Capital Management Funds Trust, not summed
28	Silverman Phillip Insider CIK 1948271 · Apr 20, 2026 Chief Financial Officer, issuer-wide	71,516	0.28%	+32,462	Apr 20, 2026	Chief Financial Officer, issuer-wide
29	PRICE T ROWE ASSOCIATES INC /MD/ 13F CIK 80255 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	69,485	0.27%	+12,524	Jun 30, 2026	carried, not yet filed for the newest quarter
29.1	T. Rowe Price Small-Cap Index Fund Fund S000051327 · Registered fund · Jun 30, 2026 T. ROWE PRICE INDEX TRUST, INC., not summed	2,300	0.01%	0	Jun 30, 2026	T. ROWE PRICE INDEX TRUST, INC., not summed
30	Papastavrou Jason D Insider CIK 1329290 · Apr 20, 2026 Director, issuer-wide	63,870	0.25%	+6,324	Apr 20, 2026	Director, issuer-wide
31	MORGAN STANLEY 13F CIK 895421 · Holding company · Jun 30, 2026 carried, not yet filed for the newest quarter	63,595	0.25%	+14,923	Jun 30, 2026	carried, not yet filed for the newest quarter
32	Odyssean, LLC 13F CIK 2092853 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	63,292	0.25%	+50,317	Jun 30, 2026	carried, not yet filed for the newest quarter
33	CHARLES SCHWAB INVESTMENT MANAGEMENT INC 13F CIK 884546 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	61,764	0.24%	+12,512	Jun 30, 2026	carried, not yet filed for the newest quarter
33.1	Schwab Small-Cap Index Fund Fund S000005912 · Registered fund · Jul 31, 2026 SCHWAB CAPITAL TRUST, not summed	46,772	0.18%	+7,211	Jul 31, 2026	SCHWAB CAPITAL TRUST, not summed
33.2	Schwab Total Stock Market Index Fund Fund S000005913 · Registered fund · Jul 31, 2026 SCHWAB CAPITAL TRUST, not summed	14,254	0.06%	+5,000	Jul 31, 2026	SCHWAB CAPITAL TRUST, not summed
34	COMMONWEALTH EQUITY SERVICES, LLC 13F CIK 312272 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	57,975	0.23%	+6,664	Jun 30, 2026	carried, not yet filed for the newest quarter
35	Quantinno Capital Management LP 13F CIK 1759654 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	55,827	0.22%	-19,739	Jun 30, 2026	carried, not yet filed for the newest quarter
36	Bank of New York Mellon Corp 13F CIK 1390777 · Bank · Jun 30, 2026 carried, not yet filed for the newest quarter	53,308	0.21%	+5,371	Jun 30, 2026	carried, not yet filed for the newest quarter
37	RAYMOND JAMES FINANCIAL INC 13F CIK 720005 · Unknown · Jun 30, 2026 carried, not yet filed for the newest quarter	48,623	0.19%	+48,623	Jun 30, 2026	carried, not yet filed for the newest quarter
38	Magnus Financial Group LLC 13F CIK 1765216 · Unknown · Sep 30, 2026	48,239	0.19%	+8,421	Sep 30, 2026
39	AQR CAPITAL MANAGEMENT LLC 13F CIK 1167557 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	48,189	0.19%	+29,418	Jun 30, 2026	carried, not yet filed for the newest quarter
40	Atom Investors LP 13F CIK 1738902 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	42,314	0.17%	+42,314	Jun 30, 2026	carried, not yet filed for the newest quarter
41	RENAISSANCE TECHNOLOGIES LLC 13F CIK 1037389 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	38,600	0.15%	-12,400	Jun 30, 2026	carried, not yet filed for the newest quarter
42	Sage Mountain Advisors LLC 13F CIK 1832274 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	34,284	0.13%	-64,446	Jun 30, 2026	carried, not yet filed for the newest quarter
43	Konigsberg Brandon Insider CIK 1894715 · Apr 20, 2026 Director, issuer-wide	33,870	0.13%	+6,324	Apr 20, 2026	Director, issuer-wide
44	Invesco Ltd. 13F CIK 914208 · Investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	33,413	0.13%	+3,325	Jun 30, 2026	carried, not yet filed for the newest quarter
44.1	Invesco RAFI US 1500 Small-Mid ETF Fund S000013120 · Registered fund · Jul 31, 2026 Invesco Exchange-Traded Fund Trust, not summed	18,014	0.07%	-1,724	Jul 31, 2026	Invesco Exchange-Traded Fund Trust, not summed
44.2	Invesco Russell 2000 Dynamic Multifactor ETF Fund S000064608 · Registered fund · May 31, 2026 Invesco Exchange-Traded Self-Indexed Fund Trust, not summed	5,734	0.02%	+2,427	May 31, 2026	Invesco Exchange-Traded Self-Indexed Fund Trust, not summed
45	Amplify Seymour Cannabis ETF Fund S000064108 · Registered fund · Jun 30, 2026 Amplify ETF Trust, not summed	33,345	0.13%	-5,283	Jun 30, 2026	Amplify ETF Trust, not summed
46	Tidal Investments LLC 13F CIK 1600064 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	33,345	0.13%	-5,283	Jun 30, 2026	carried, not yet filed for the newest quarter
47	United Advisor Group, LLC 13F CIK 2004873 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	33,050	0.13%	+9,100	Jun 30, 2026	carried, not yet filed for the newest quarter
48	GEODE CAPITAL MANAGEMENT, LLC 13F CIK 1214717 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	28,235	0.11%	+4,191	Jun 30, 2026	carried, not yet filed for the newest quarter
49	Nuveen, LLC 13F CIK 1871926 · Unknown · Jun 30, 2026 carried, not yet filed for the newest quarter	27,041	0.11%	-3,778	Jun 30, 2026	carried, not yet filed for the newest quarter
49.1	Nuveen Small Cap Blend Index Fund Fund S000005367 · Registered fund · Jul 31, 2026 TIAA-CREF Funds, not summed	17,154	0.07%	-3,778	Jul 31, 2026	TIAA-CREF Funds, not summed
49.2	TIAA Separate Account VA-1 - Stock Index Account Fund S000005098 · Registered fund · Jun 30, 2026 TIAA Separate Account VA-1, not summed	216	0.00%	0	Jun 30, 2026	TIAA Separate Account VA-1, not summed
49.3	Nuveen Life Stock Index Fund Fund S000005094 · Registered fund · Jun 30, 2026 TIAA-CREF Life Funds, not summed	152	0.00%	0	Jun 30, 2026	TIAA-CREF Life Funds, not summed
50	RHUMBLINE ADVISERS 13F CIK 1115418 · Registered investment adviser · Jun 30, 2026 carried, not yet filed for the newest quarter	24,562	0.10%	-452	Jun 30, 2026	carried, not yet filed for the newest quarter

3 more nested rows are not shown here; Every filing lists them all.

Shares are restated onto today's split basis. Change compares each row with the same holder's previous filing in the same source; a dash means there is none to compare. Nested 13D/G, insider and fund rows are not summed, since a 13F report already holds them.

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Key facts CIK 1867949 CUSIP 167239102 13F (30d) 17 filings 17 filers Visit website Investor relations