Lutnick Brandon 4
Research Summary
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Cantor Fitzgerald Income Trust Chairman Brandon Lutnick Buys Shares
What Happened Brandon Lutnick, Chairman and Director, is reported to have acquired beneficial ownership of shares in Cantor Fitzgerald Income Trust by closing the purchase of all voting shares of CF Group Management, Inc. (CFGM) on October 6, 2025. The filing shows CFI (Cantor Fitzgerald Investors, LLC) as the record holder of 70,925 Class I, 183,157 Class IX and 8,180 Class AX ordinary shares (total 262,262 shares). The aggregate purchase price paid for the voting shares of CFGM was $200,000. Individual share prices for the reported ordinary shares are listed as N/A because the acquisition was of the managing entity, not a direct open-market buy of the trust’s listed shares.
Key Details
- Transaction date: October 6, 2025 (reported on Form 4 filed April 8, 2026 — late filing)
- Reported transactions: Code P (Purchase) for 70,925 Class I, 183,157 Class IX, and 8,180 Class AX ordinary shares (aggregate 262,262 shares)
- Price per listed share: N/A (acquisition was of CFGM voting shares); aggregate price for CFGM voting shares: $200,000
- Shares owned (beneficially, as reported): 262,262 shares via CFI (Cantor Fitzgerald Investors, LLC)
- Footnotes: Lutnick acquired CFGM’s voting shares through trusts for which he is trustee with decision-making control; CFI is the record holder of the ordinary shares and CFLP is the ultimate parent. Lutnick disclaims beneficial ownership of any CFAC securities beyond his pecuniary interest (per filing).
- Timeliness: Filing was submitted ~6 months after the transaction date (filed April 8, 2026 for an Oct 6, 2025 transaction) — listed as late.
Context This is an indirect acquisition of the trust’s ordinary shares by gaining control of the managing entity (CFGM), which may be treated as beneficial ownership of the shares held by CFI. That differs from a straightforward open-market purchase of the listed securities. The filing disclaims full beneficial ownership beyond any pecuniary interest, so this reflects control via entity ownership rather than a direct, outright buy of the public float.