Kayne Anderson Rudnick Investment Management, LLC and related entities report significant ownership of Triumph Financial Inc. common stock as of 12/31/2025. Kayne Anderson Rudnick beneficially owns 2,108,278 shares, representing 8.9% of Triumph Financial ordinary shares.
Within this amount, it has sole voting power over 886,223 shares and shared voting power over 1,174,727 shares, with similar sole and shared dispositive powers. Virtus Investment Advisers, LLC reports beneficial ownership of 970,432 shares (4.1%), and Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund reports 908,659 shares (3.8%), which are included in the higher-level totals. The holders certify the shares are held in the ordinary course of business and not for the purpose of changing or influencing control of Triumph Financial.
Positive
None.
Negative
None.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(Amendment No. 4)
Triumph Financial Inc
(Name of Issuer)
Triumph Financial Ord Shs
(Title of Class of Securities)
89679E300
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
89679E300
1
Names of Reporting Persons
Kayne Anderson Rudnick Investment Management, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
CALIFORNIA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
886,223.00
6
Shared Voting Power
1,174,727.00
7
Sole Dispositive Power
933,551.00
8
Shared Dispositive Power
1,174,727.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
2,108,278.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
8.9 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP No.
89679E300
1
Names of Reporting Persons
Virtus Investment Advisers, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MASSACHUSETTS
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
970,432.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
970,432.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
970,432.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
4.1 %
12
Type of Reporting Person (See Instructions)
IA
Comment for Type of Reporting Person: The amounts reported on this page are also included in the amounts reported by Kayne Anderson Rudnick Investment Management, LLC on this Schedule 13G
SCHEDULE 13G
CUSIP No.
89679E300
1
Names of Reporting Persons
Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
908,659.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
908,659.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
908,659.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
3.8 %
12
Type of Reporting Person (See Instructions)
IV
Comment for Type of Reporting Person: The amounts reported on this page are also included in the amounts reported by Virtus Investment Advisers, LLC on this Schedule 13G.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Triumph Financial Inc
(b)
Address of issuer's principal executive offices:
12700 Park Central Drive; Suite 1700, Dallas, US-TX, 75251-1517, US
Item 2.
(a)
Name of person filing:
(1) Kayne Anderson Rudnick Investment Management, LLC (2) Virtus Investment Advisers, LLC (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund
(b)
Address or principal business office or, if none, residence:
(1) Kayne Anderson Rudnick Investment Management, LLC - 2000 Avenue of the Stars, Suite 1110, Los Angeles, 90067, CA, United States (2) Virtus Investment Advisers, LLC - One Financial Plaza, Hartford, 06103, CT, United States (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund - 101 Munson Street, Greenfield, 01301, MA, United States
(c)
Citizenship:
(1) Kayne Anderson Rudnick Investment Management, LLC - CALIFORNIA (2) Virtus Investment Advisers, LLC - MASSACHUSETTS (3) Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund- DELAWARE
(d)
Title of class of securities:
Triumph Financial Ord Shs
(e)
CUSIP No.:
89679E300
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
(1)Kayne Anderson Rudnick Investment Management,LLC: 2108278 (2)Virtus Investment Advisers,LLC: 970432 (3)Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 908659
(b)
Percent of class:
(1)Kayne Anderson Rudnick Investment Management,LLC: 8.9% (2)Virtus Investment Advisers,LLC: 4.1% (3)Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 3.8%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
(1)Kayne Anderson Rudnick Investment Management,LLC: 886223 (2)Virtus Investment Advisers,LLC: 0 (3)Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 0
(ii) Shared power to vote or to direct the vote:
(1)Kayne Anderson Rudnick Investment Management,LLC: 1174727 (2)Virtus Investment Advisers,LLC: 970432 (3)Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 908659
(iii) Sole power to dispose or to direct the disposition of:
(1)Kayne Anderson Rudnick Investment Management,LLC: 933551 (2)Virtus Investment Advisers,LLC: 0 (3)Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 0
(iv) Shared power to dispose or to direct the disposition of:
(1)Kayne Anderson Rudnick Investment Management,LLC: 1174727 (2)Virtus Investment Advisers,LLC: 970432 (3)Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund: 908659
Item 5.
Ownership of 5 Percent or Less of a Class.
Ownership of 5 percent or less of a class
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
With respect to securities owned by a registered investment company included in this filing, only the custodian for such investment company, has the right to receive dividends paid with respect to, and proceeds from the sale of, such securities. No other person is known to have such right, except that the shareholders of such investment company participate proportionately in any dividends and distributions so paid.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Kayne Anderson Rudnick Investment Management, LLC
Signature:
/s/Michael Shoemaker
Name/Title:
Chief Compliance Officer
Date:
02/13/2026
Virtus Investment Advisers, LLC
Signature:
/s/Chetram Persaud
Name/Title:
Chief Compliance Officer
Date:
02/13/2026
Virtus Equity Trust on behalf of Virtus KAR Small-Cap Growth Fund
What ownership stake in Triumph Financial (TFIN) does Kayne Anderson Rudnick report?
Kayne Anderson Rudnick Investment Management, LLC reports beneficial ownership of 2,108,278 Triumph Financial shares, or 8.9% of the class. This stake includes both sole and shared voting and dispositive powers over the shares as detailed in the Schedule 13G/A filing.
How many Triumph Financial (TFIN) shares does Virtus Investment Advisers, LLC hold?
Virtus Investment Advisers, LLC reports beneficial ownership of 970,432 Triumph Financial shares, representing 4.1% of the class. All of these shares are reported with shared voting and shared dispositive power, and are also included within Kayne Anderson Rudnick’s reported totals.
What position does Virtus KAR Small-Cap Growth Fund have in Triumph Financial (TFIN)?
Virtus Equity Trust, on behalf of Virtus KAR Small-Cap Growth Fund, reports 908,659 Triumph Financial shares, or 3.8% of the class. These shares are held with shared voting and dispositive power and are included in the amounts reported by Virtus Investment Advisers, LLC.
Are Kayne Anderson Rudnick and its affiliates seeking control of Triumph Financial (TFIN)?
The reporting parties certify the Triumph Financial shares were acquired and are held in the ordinary course of business, not to change or influence control. They also state the holdings are not part of any transaction designed to affect control of the issuer.
What voting powers do the reporting entities have over Triumph Financial (TFIN) shares?
Kayne Anderson Rudnick has sole voting power over 886,223 shares and shared voting power over 1,174,727 shares. Virtus Investment Advisers, LLC and Virtus KAR Small-Cap Growth Fund report only shared voting power over their respective Triumph Financial positions.
What does this Schedule 13G/A amendment for Triumph Financial (TFIN) represent?
This amended Schedule 13G/A updates the disclosed beneficial ownership of Triumph Financial shares by Kayne Anderson Rudnick and related entities. It details share counts, voting and dispositive powers, and confirms the holdings are for ordinary-course investment, not for influencing corporate control.
