Wendel SE Portfolio Holdings

Q3 2025•1 long positions•$429.5M portfolio value

Holding1	Sector	Position↕	Traded↕	Ownership↕	Shares Δ↕	Shares Δ %	Market Cap↕	Owned Since↕
1 IHS Holding IHS	Telecommunications Services Communication Services	$429.5M 100.0%	—	18.77% 63.0M shares	—	—	$2.3B Mid Cap	Q1 2025 Held for 8 months

Holding1	Sector	Position↕	Traded↕	Ownership↕	Shares Δ↕	Shares Δ %	Market Cap↕	Owned Since↕
1 IHS Holding IHS	Telecommunications Services Communication Services	$429.5M 100.0%	—	18.77% 63.0M shares	—	—	$2.3B Mid Cap	Q1 2025 Held for 8 months

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