Trian Fund Management: 13F holdings, Q2 2026
Activist · SEC EDGAR filings (CIK 0001345471) · Explore on the interactive board
Trian Fund Management disclosed 8 US equity positions worth $4.2bn in its Q2 2026 13F filing (holdings as of June 30, 2026, filed August 12, 2026). Its largest position is GE at 35.6% of the reported book, followed by Janus Henderson Group plc, SOLV. The top ten holdings are 100.0% of the book, and the portfolio behaves like about 4 equal-weight positions. Versus the prior filing it opened 0 new positions, added to 1, reduced 2 and exited 0.
What does Trian Fund Management own? Top holdings as of June 30, 2026
Change is measured in shares against the previous filing (Q1 2026), so price moves do not read as decisions. This quarter: 0 new, 1 added, 2 reduced, 0 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | GE GE Aerospace | Industrials | 35.6% | $1.5bn | 4,030,765 | 0% | held |
| 2 | Janus Henderson Group plc | 31.6% | $1.3bn | 25,654,382 | -19% | reduced | |
| 3 | SOLV Solventum Corporation | Healthcare | 15.0% | $635.5m | 8,236,753 | 0% | held |
| 4 | Ferguson Plc New | 6.1% | $257.8m | 1,086,357 | 0% | held | |
| 5 | WEN Wendys Co. | Consumer Cyclical | 5.9% | $247.8m | 30,468,434 | 0% | held |
| 6 | GEHC GE HealthCare Technologies Inc. | Healthcare | 4.7% | $197.5m | 3,085,344 | 76194% | added |
| 7 | IVZ Invesco Ltd. | Financial Services | 1.0% | $42.9m | 1,625,472 | -45% | reduced |
| 8 | Magnum Ice Cream Co NV | 0.1% | $4.2m | 241,042 | 0% | held |
Sector mix
| Sector | Weight |
|---|---|
| Industrials | 35.6% |
| Healthcare | 19.7% |
| Consumer Cyclical | 5.9% |
| Financial Services | 1.0% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
| Quarter | Positions | Equity value |
|---|---|---|
| Q2 2026 | 9 | $4.2bn |
| Q1 2026 | 9 | $3.9bn |
| Q4 2025 | 8 | $4.0bn |
| Q3 2025 | 8 | $4.1bn |
| Q2 2025 | 11 | $3.8bn |
| Q1 2025 | 11 | $3.7bn |
| Q4 2024 | 11 | $3.9bn |
| Q3 2024 | 11 | $3.9bn |
| Q2 2024 | 14 | $4.0bn |
| Q1 2024 | 12 | $5.8bn |
| Q4 2023 | 12 | $5.7bn |
| Q3 2023 | 12 | $5.6bn |
| Q2 2023 | 8 | $3.9bn |
| Q1 2023 | 8 | $3.8bn |
| Q4 2022 | 9 | $5.2bn |
| Q3 2022 | 9 | $4.1bn |
Earliest filing: Q1 2011 · 62 quarters on file
How concentrated is Trian Fund Management's portfolio?
Across every quarter Trian Fund Management has filed, its median largest position is 24.8% of the book and its median top-ten weight is 100.0%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 53 completed holding spells, the median lasted 4.0 quarters; 8 positions are still open and their final length is unknown.