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The Activist Investor Insider

Filings dated October 15–31, 2026

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Top 10 Activist Investors: November 1, 2026

7 of the 24 activists we track disclosed moves in SEC filings dated October 15–31, 2026, including 3 new 13D campaigns. Ranks 1–5 are for Premium Subscribers until December 1, 2026.

Ranks 1–5 are for Premium Subscribers until December 1, 2026, when this edition unlocks for everyone. Ranks 6–7 are free below.

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Activists tracked
24
Active this period
7
New 13D campaigns
3

Ranks 1–5 · November 1, 2026

Premium Subscribers

Top-5 buying
~$17M

Top-5 total rounded to the nearest $1M.

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Or read them free when this edition unlocks on December 1, 2026.

6Previous rank not shown

James Pappas

JCP Investment Management

Filing updates, no valued trades

  • Red Robin Gourmet Burgers Inc

    RRGB
    UpdateStake update
    Shares
    —
    Value
    —
    Date invested
    Oct 23, 2026
    13D/AFiled Oct 27
7Previous rank not shown

Nelson Peltz

Trian Fund Management

Filing updates, no valued trades

  • The Wendy's Company

    WEN
    UpdateStake update
    Take-private proposal
    Shares
    —
    Value
    —
    Date invested
    Oct 28, 2026
    13D/AFiled Oct 28

Ranks 8–10 appear when this edition unlocks on December 1, 2026.

How to read values: plain figures are Form 4 transaction prices; est. = shares × the market close on the 13D event date; 13F = the fund's own quarterly 13F valuation, dated to the quarter. “Context” rows are shown but not counted, so the same purchase is never ranked twice. A dash means the filing gives no figure to show. Every row links to its filing on SEC EDGAR. Full methodology.

Filing notes

From the filings

What the activists told the SEC, in their own words where a Schedule 13D gives them.

  1. Red Robin Gourmet Burgers Inc (RRGB)

    #6 James Pappas

    UpdateStake update

    James Pappas filed an amended Schedule 13D on Red Robin Gourmet Burgers Inc (RRGB), reporting 10.3% of the class. The filing's higher share count comes from stock awards, not purchases, so it is not counted as buying. The filing describes an agreement between the investor and the company.

    On October 23, 2026, each of Messrs. Pappas and Martin notified the Issuer of his resignation from the Board and all committees of the Board, effective as of October 23, 2026. Also on October 23, 2026, JCP Management and Jumana Capital each executed a waiver (the "Cooperation Agreement Waivers") to the Cooperation Agreement, dated as of December 3, 2024 and amended on February 13, 2026 (the "Cooperation Agreement"). Pursuant to the Cooperation Agreement Waivers, the Reporting Persons irrevocably waived any right to have a Replacement Investor Designee (as defined in the Cooperation…
    Item 4, purpose of the transaction
    13D/AFiled Oct 27, 2026

  2. The Wendy's Company (WEN)

    #7 Nelson Peltz

    UpdateStake update
    Take-private proposal

    Nelson Peltz filed an amended Schedule 13D on The Wendy's Company (WEN), reporting 16.23% of the class. The filing's higher share count comes from stock awards, not purchases, so it is not counted as buying. The filing describes a proposal to take the company private.

    On October 28, 2026, Trian Management, which, together with its affiliated funds and related parties, beneficially owns approximately 16.25% of the outstanding Common Stock, and Flynn, together with BlueFive and Sixth Street, submitted to the Board a non-binding proposal (the "Proposal") for a newly formed entity to acquire all of the outstanding shares of Common Stock not currently beneficially owned by the Filing Persons (the "Proposed Transaction") for a price of $7.35 per share in cash (the "Per Share Price"), assuming approximately 194.0 million shares of Common Stock outstanding on a…
    Item 4, purpose of the transaction
    13D/AFiled Oct 28, 2026

Notes summarise the filing text only and add no figures of their own. The filing is always the authoritative source.

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