Trian Fund Management
Nelson PeltzNEW YORK, NYfiles as TRIAN FUND MANAGEMENT, L.P.
$4.2bn in 8 US stocks at the end of 30 June 2026. The top 10 are 100.0% of the money. It changed about 12.2% of the portfolio this quarter.
Value
$4.2bn
Stocks
8
Top 10 share
100.0%
Turnover
12.2%
What changed this quarter
New
Bought for the first time this quarter.
None this quarter.
Added
Bought more of a stock they already held.
- GE HealthCare TechnologiesGEHC4.7% of the fund+76194%
Cut
Sold some of their stake.
- Janus Henderson Group31.5% of the fund-20%
- InvescoIVZ1.0% of the fund-45%
Sold out
Sold their entire stake.
None this quarter.
Holdings
- Janus Henderson Group
- Share
- 31.5%
- Value
- $1.3bn
- Shares
- 25,654,382
-20%
- Ferguson PLC New
- Share
- 6.1%
- Value
- $258m
- Shares
- 1,086,357
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| General ElectricGE | 35.6% | $1.5bn | 4,030,765 | Held |
| Janus Henderson Group | 31.5% | $1.3bn | 25,654,382 | -20% |
| SolventumSOLV | 15.0% | $635m | 8,236,753 | Held |
| Ferguson PLC New | 6.1% | $258m | 1,086,357 | Held |
| Wendy'sWEN | 6.0% | $253m | 30,468,434 | Held |
| GE HealthCare TechnologiesGEHC | 4.7% | $197m | 3,085,344 | +76194% |
| InvescoIVZ | 1.0% | $43m | 1,625,472 | -45% |
| Magnum Ice CreamMICC | <0.1% | $4m | 241,042 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 11.6% since 30 June 2025.
Where the money is
Industrials35.6%
Health care19.7%
Retail & consumer6.0%
Financial services1.0%
Everyday goods0.1%
Other37.6%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.