These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity's attaining more than 5% in any class of a company's securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Feb. 12 through Feb. 18, 2026.Source: VerityData

Activist Filings

TripAdvisor $(TRIP)$ Starboard Value raised its stake in the travel-services company to 10,774,996 shares. Starboard Value did so through the purchase of 1,360,681 TripAdvisor shares from Jan. 14 through Feb. 13 at per share prices ranging from $9.60 to $13.77, and slightly offset those purchases through the sale of 230,681 TripAdvisor shares from Jan. 20 through Feb. 2 at $13.20 to $13.85.

On Feb. 17, Starboard delivered an open shareholder letter criticizing TripAdvisor's prolonged underperformance and the board's inaction, noting that shares are down nearly 50% since CEO Matt Goldberg's July 1, 2022, appointment. Starboard also announced its intent to nominate a majority slate of director candidates at the 2026 annual meeting and said a reconstituted board is needed to evaluate value-creation opportunities, including a potential sale of the company.

Following the latest activity, Starboard Value continues to own 9.4% of TripAdvisor's outstanding stock. Shares have lost roughly 28.6% of their value since the beginning of this year.

Increases in Holdings

Orthofix Medical $(OFIX)$ Juniper Investment raised its stake in the medical-device firm to 3,784,617 shares. Juniper Investment did so through the purchase of 274,284 Orthofix shares from Feb. 9 through Feb. 12 at per share prices ranging from $12.77 to $13.53.

Following the latest purchases, Juniper Investment owns a 9.6% stake in Orthofix Medical's outstanding stock. Shares of Orthofix Medical have lost approximately 7.3% of their value since the beginning of this year.

Decreases in Holdings

National Energy Services Reunited $(NESR)$ Mubbadrah Investment reduced its stake in the integrated oilfield-services provider to 4,278,532 shares. Mubbadrah Investment did so through the sale of 867,478 National Energy Services shares from Nov. 5, 2025, through Jan. 22, 2026, at per share prices ranging from $12.31 to $19.87.

Following the latest sales, Mubbadrah Investment continues to own 4.3% of National Energy Services' outstanding stock, placing Mubbadrah below the 5% threshold that would require it to report further sales. Shares of National Energy Services have gained approximately 56.2% in value since the beginning of this year.

MBX Biosciences (MBX) OrbiMed Advisors lowered its stake in the clinical-stage biopharmaceutical company to 3,637,887 shares. OrbiMed Advisors did so through the sale of 365,000 MBX Biosciences shares from Dec. 26, 2025, through Jan. 16, 2026, at per share prices ranging from $31.03 to $42.09.

Following the latest sales, OrbiMed continues to own 7.7% of MBX Biosciences' outstanding stock. Shares of MBX Biosciences have gained roughly 32% in value since the beginning of this year.

Email: editors@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity's attaining more than 5% in any class of a company's securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from Feb. 12 through Feb. 18, 2026.Source: VerityData

Activist Filings

TripAdvisor (TRIP) Starboard Value raised its stake in the travel-services company to 10,774,996 shares. Starboard Value did so through the purchase of 1,360,681 TripAdvisor shares from Jan. 14 through Feb. 13 at per share prices ranging from $9.60 to $13.77, and slightly offset those purchases through the sale of 230,681 TripAdvisor shares from Jan. 20 through Feb. 2 at $13.20 to $13.85.

On Feb. 17, Starboard delivered an open shareholder letter criticizing TripAdvisor's prolonged underperformance and the board's inaction, noting that shares are down nearly 50% since CEO Matt Goldberg's July 1, 2022, appointment. Starboard also announced its intent to nominate a majority slate of director candidates at the 2026 annual meeting and said a reconstituted board is needed to evaluate value-creation opportunities, including a potential sale of the company.

Following the latest activity, Starboard Value continues to own 9.4% of TripAdvisor's outstanding stock. Shares have lost roughly 28.6% of their value since the beginning of this year.

Increases in Holdings

Orthofix Medical (OFIX) Juniper Investment raised its stake in the medical-device firm to 3,784,617 shares. Juniper Investment did so through the purchase of 274,284 Orthofix shares from Feb. 9 through Feb. 12 at per share prices ranging from $12.77 to $13.53.

Following the latest purchases, Juniper Investment owns a 9.6% stake in Orthofix Medical's outstanding stock. Shares of Orthofix Medical have lost approximately 7.3% of their value since the beginning of this year.

Decreases in Holdings

National Energy Services Reunited (NESR) Mubbadrah Investment reduced its stake in the integrated oilfield-services provider to 4,278,532 shares. Mubbadrah Investment did so through the sale of 867,478 National Energy Services shares from Nov. 5, 2025, through Jan. 22, 2026, at per share prices ranging from $12.31 to $19.87.

Following the latest sales, Mubbadrah Investment continues to own 4.3% of National Energy Services' outstanding stock, placing Mubbadrah below the 5% threshold that would require it to report further sales. Shares of National Energy Services have gained approximately 56.2% in value since the beginning of this year.

MBX Biosciences (MBX) OrbiMed Advisors lowered its stake in the clinical-stage biopharmaceutical company to 3,637,887 shares. OrbiMed Advisors did so through the sale of 365,000 MBX Biosciences shares from Dec. 26, 2025, through Jan. 16, 2026, at per share prices ranging from $31.03 to $42.09.

Following the latest sales, OrbiMed continues to own 7.7% of MBX Biosciences' outstanding stock. Shares of MBX Biosciences have gained roughly 32% in value since the beginning of this year.

Email: editors@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

February 21, 2026 09:30 ET (14:30 GMT)

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