Trian Fund Management

Managed by Nelson Peltz

Portfolio value: $4.23B
Holdings: 8
Top 5 weight: 94.22%
Latest filing: Q2 '26 Jun 30

Portfolio

Reported 13F holdings, largest positions first

8holdings

GE 35.6%JHG 31.53%SOLV 15.02%FERG 6.09%WEN 5.97%Other 5.78%

Company% PortfolioSharesValue

GEGE AEROSPACE35.6%4,030,800$1.51B

JHGJHG31.53%25,654,400$1.33B

SOLVSOLVENTUM CORP15.02%8,236,800$635.50M FERGFERGUSON ENTERPRISES INC6.09%1,086,400$257.80M WENWENDY'S CO5.97%30,468,400$252.60M GEHCGE HEALTHCARE TECHNOLOGIES INC4.67%3,085,300$197.50M IVZINVESCO LTD1.01%1,625,500$42.90M MICCMAGNUM ICE CREAM CO NV0.1%241,000$4.20M

From the fund's Q2 '26 13F filingWhat is a 13F?

Activity

Buys and sells, quarter by quarter

Jun 30, 2026 filing - 4 moves · 2 buy-side · 2 sell-side

CompanyChangeValue

JHGJHG19%$1.33B

WENWENDY'S CO0%$252.60M GEHCGE HEALTHCARE TECHNOLOGIES INC77,033%$197.50M IVZINVESCO LTD45%$42.90M

Mar 31, 2026 filing - 2 moves · 2 buy-side · 0 sell-side

CompanyChangeValue

WENWENDY'S CO0%$211.60M MICCMAGNUM ICE CREAM CO NVNew$3.60M

Dec 31, 2025 filing - 4 moves · 2 buy-side · 2 sell-side

CompanyChangeValue

GEGE AEROSPACE0%$1.24B SOLVSOLVENTUM CORP3%$652.70M WENWENDY'S CO0%$253.60M IVZINVESCO LTD80%$78.00M

Sep 30, 2025 filing - 3 moves · 1 buy-side · 2 sell-side

CompanyChangeValue

WENWENDY'S CO0%$278.80M UHALU-HAUL HOLDING COSold$39.80M

U10DUNDU10DSold$20.10M

Jun 30, 2025 filing - 5 moves · 2 buy-side · 3 sell-side

CompanyChangeValue

WENWENDY'S CO0%$347.60M FERGFERGUSON ENTERPRISES INC8%$236.60M IVZINVESCO LTD37%$230.70M UHALU-HAUL HOLDING CO61%$39.80M

U10DUNDU10D69%$20.10M

Mar 31, 2025 filing - 3 moves · 1 buy-side · 2 sell-side

CompanyChangeValue

WENWENDY'S CO0%$445.10M FERGFERGUSON ENTERPRISES INC18%$161.60M

U10DUNDU10D4%$65.80M

Dec 31, 2024 filing - 5 moves · 3 buy-side · 2 sell-side

CompanyChangeValue

SOLVSOLVENTUM CORP19%$559.10M WENWENDY'S CO0%$497.60M FERGFERGUSON ENTERPRISES INC3%$214.80M UHALU-HAUL HOLDING CO19%$117.10M

U10DUNDU10D50%$59.10M

Sep 30, 2024 filing - 9 moves · 2 buy-side · 7 sell-side

CompanyChangeValue

WENWENDY'S CO3%$534.60M SOLVSOLVENTUM CORP33%$496.80M IVZINVESCO LTD15%$406.90M DISWALT DISNEY COSold$262.70M FERGFERGUSON ENTERPRISES INC35%$252.30M

U10DUNDU10D70%$116.30M

UHALU-HAUL HOLDING CO15%$110.40M RTORENTOKIL INITIAL PLCSold$13.90M GEHCGE HEALTHCARE TECHNOLOGIES INC100%$400.00K

Changes are share-count changes vs. the prior quarter

About this investor

Trian Fund Management is Nelson Peltz's activist firm, which takes meaningful stakes in large, established companies and works with boards to improve operations and capital allocation. Trian favors a constructive, operationally focused style over hostile tactics, often in consumer and industrial names. The aim is long-term margin and earnings improvement rather than quick trades.

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