California First Leasing Corporation

10/23/2026 | Press release | Distributed by Public on 10/23/2026 14:43

Periodic/Interim Report by Investment Company (Form N-30B-2)

Interim Report to Shareholders

First Quarter Ended September 30, 2026

California First Leasing Corporation, (OTCQX: CFNB, "CalFirstLease: or "Company"), headquartered in Newport Beach, California, is an internally managed non-diversified closed-end investment company registered under the Investment Company Act of 1940, as amended. The Company invests in public equities and other investments to generate capital appreciation and maximize current income, while retaining the balance of its lease portfolio.

This interim report for the quarter ended September 30, 2026, prepared without audit, provides an update to the annual report for the fiscal year ended June 30, 2026. Accordingly, it does not contain all information required to meet annual or semiannual disclosure obligations and should be reviewed in conjunction with the annual report filed with the Securities and Exchange Commission and available at https://www.calfirstlease.com/investor. The Company's periodic results and net asset value per share can fluctuate widely due to including gains and losses on equity securities that are determined based on stock prices on the last day of a fiscal quarter.

Selected Income Data Three months ended September 30,
2026 2025
Dividend and interest income $ 1,255,585 $ 1,071,741
Lease income 101,918 274,202
Operating expenses (659,555 ) (570,284 )
Net Investment and lease income $ 697,948 $ 775,658
Net realized (loss) gain on sale of investments (1,829,475 ) 21,960
Increase (decrease) in unrealized appreciation of securities (25,901,498 ) 20,147,270
Earnings (loss) before income taxes (27,033,025 ) 20,944,888
Less: Income taxes expense (benefit) (2,877,822 ) 5,760,190
Net earnings (loss) $ (24,155,203 ) $ 15,184,698
Shares of Common stock outstanding 179,568 179,568
Total return
CFNB based on NAV (5.6 )% 5.9 %
S&P 500 (TR) Index 2.3 % 8.3 %
Selected Asset Data Quarter End
9/30/2026 		Year End
6/30/2026
Short-term investments $ 33,867,853 $ 50,212,458
Equity securities 460,672,182 471,105,450
Lease assets 1,442,674 2,490,804
Total Assets $ 496,948,544 $ 524,399,430
Shareholders' equity (NAV) $ 408,642,892 $ 432,798,095
Beginning Net Asset Value (NAV) per share $ 2,410.37 $ 1,429.48
Net earnings (loss) per share (134.52 ) 980.89
Dividends paid per share - -
Net Asset Value per share, end of period $ 2,275.85 $ 2,410.37

Equity Investment Portfolio

The distribution of equity securities and gains or losses by segment at September 30, 2026 is summarized below.

Unrealized Fair Value at
Cost Gains (Losses) Fair value June 30,2026
as of September 30, 2026
Commercial / Industrial $ 86,347,494 $ 269,804,755 $ (133,647 ) $ 356,018,602 $ 374,010,018
Consumer 32,108,244 3,218,730 (1,922,944 ) 33,404,030 31,741,846
Financial 18,414,414 22,712,888 (157,914 ) 40,969,389 40,385,535
Healthcare 21,692,324 1,707,338 (1,374,222 ) 22,025,440 16,043,183
Exchange-traded Funds 6,480,848 1,773,875 - 8,254,722 8,924,867
$ 165,043,323 $ 299,217,586 $ (3,588,727 ) $ 460,672,182 $ 471,105,450
California First Leasing Corporation Interim Report as of September 30,2026

Statement of Investments -- September 30, 2026

Common Stocks-- 110.71% Description Shares Value
Auto & Truck Dealerships-- 0.77% LITHIA MTRS INC 10,759 $ 3,139,799
Auto Parts-- 1.17% ALLISON TRANSMISSION 42,290 4,789,765
Banks - Diversified-- 4.00% WELLS FARGO & CO NEW 106,400 8,517,320
BANK OF AMERICA CORP 117,500 6,395,525
JPMORGAN CHASE & CO 4,380 1,449,035
16,361,880
Capital Markets-- 5.11% GOLDMAN SACHS GROUP INC 23,200 20,888,352
Computer Hardware-- 0.24% ARISTA NETWORKS INC NEW (1) 4,831 983,543
Credit Services-- 0.44% VISA INC CLASS A 5,004 1,798,087
Drug Manufacturers-- 0.73% ELI LILLY & CO 2,565 2,967,910
Drug Manufacturers-Specialty & Generic-- 0.60% NEUROCRINE BIOSCIENCES (1) 17,165 2,434,684
Electronic Componets-- 0.02% SANMINA CORP (1) 438 94,131
Engineering & Construction-- 3.53% COMFORT SYS USA INC 8,720 14,423,665
Entertainment-- 0.62% NETFLIX INC (1) 36,623 2,548,228
Financial Date & Exchanges-- 0.47% S&P GLOBAL INC 4,870 1,921,069
Footwear & Accessories-- 0.61% ON HOLDING AG (1) 84,100 2,490,201
Healthcare Plans-- 2.47% THE CIGNA GROUP 30,710 8,347,899
UNITEDHEALTH GROUP 4,754 1,745,098
10,092,998
Internet Content & Information-- 11.85% ALPHABET INC VOTING 99,900 34,373,592
META PLATFORMS INC 19,400 14,068,492
48,442,084
Internet Retail-- 0.75% AMAZON COM INC (1) 33,263 8,287,476
MAPLEBEAR INC (1) 59,240 2,554,429
ALIBABA GRP HLDG LTD ADR 4,900 526,946
11,368,851
Medical Instruments & Supplies-- 1.60% ALIGN TECH INC (1) 44,925 6,529,849
Oil & Gas Equipment & Services-- 1.54% SLB LTD 129,000 6,284,880
Oil & Gas Integrated-- 6.40% EXXONMOBIL HLDGS CORP 160,800 26,170,200
Resorts & Casinos-- 0.80% VAIL RESORTS INC 23,708 3,252,263
Semiconductor Equipment & Materials-- 11.87% APPLIED MATERIALS INC 88,236 45,122,126
QNITY ELECTRONICS 26,970 3,391,208
48,513,333
Semiconductors-- 39.29% MICRON TECHNOLOGY INC 71,628 76,291,699
MARVELL TECHNOLOGY INC 130,800 34,558,668
ADVANCED MICRO 54,000 33,035,040
TAIWAN SEMICONDUCTOR 36,550 16,673,745
160,559,152
Software-- 1.90% UBER TECHNOLOGIES (1) 113,103 7,748,687
Software - Infrastructure-- 7.96% TWILIO INC (1) 44,000 12,868,240
DIGITALOCEAN HOLDINGS (1) 87,600 11,684,964
ZETA GLOBAL HOLDINGS (1) 253,163 7,992,356
32,545,560
Specialty Chemicals-- 0.57% DUPONT DE NEMOURS INC 17,980 2,335,422
Tobacco-- 0.70% BRITISH AMERN TOB PLC 52,500 2,856,000
Travel Services-- 2.66% AIRBNB INC (1) 58,885 9,459,875
BOOKING HLDGS INC 8,698 1,416,991
10,876,866
Common Stocks (cost: $158,562,475) $ 452,417,460
Exchange Traded Fund (ETF)
Small-Cap Core ETF -- 2.02% ISHARES RUSSELL 2000 ETF (cost: $6,480,848) 29,705 8,254,722
Total Equity Securities (cost: $165,043,323) $ 460,672,182
Short-Term Investments-- 8.29%
Money Market Fidelity MM Treasury (3.79%) 3,545,080
JPMorgan Prime (3.89%) 30,322,773
Short-Term Investments (cost: $33,867,853) $ 33,867,853
Total Investments (cost: $198,911,177 ) $ 494,540,036
Net Assets at September 30, 2026 $ 408,642,892
(1) Non-income producing security
* Rate is the annualized seven-day yield of the fund at period end.
California First Leasing Corporation published this content on October 23, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on October 23, 2026 at 20:44 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]