HoldCo Asset Management Acquires 5.1% Activist Stake in Capitol Federal Financial, Inc.

HoldCo Asset Management, LP, along with its affiliates including HoldCo Opportunities Fund V, L.P., filed a Schedule 13D on May 5, 2026, reporting a 5.1% stake in Capitol Federal Financial, Inc. (CFFN). The reporting group acquired 6,466,059 shares of common stock for an aggregate purchase price of approximately $37.6 million using working capital. The filing indicates that the shares were purchased because the reporting persons believe the stock is undervalued and represents an attractive investment opportunity. HoldCo has already engaged, and intends to continue engaging, in discussions with the issuer's management and Board of Directors regarding opportunities to enhance shareholder value. These discussions may cover capitalization, board composition, and potential business combinations or dispositions. While the reporting persons have no current plans for a specific transaction, they intend to review their investment continuously and may increase or decrease their position based on market conditions and the issuer's performance. The group is led by Michael Zaitzeff and Vikaran Ghei.