Trian Fund Management 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
Trian Fund Management disclosed 10 US equity positions worth $3.8bn in its Q2 2025 13F filing. The largest position was Janus Henderson Group plc at 32.7% of the reported book, followed by GE and SOLV. Against the Q1 2025 filing, it opened 0 new positions, added to 1 and reduced 4 among the top 10 holdings.
What did Trian Fund Management own in Q2 2025? Top 10 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | Janus Henderson Group plc | 32.7% | $1.2bn | 31,867,800 | 0% | held | |
| 2 | GE GE Aerospace | Industrials | 27.4% | $1.0bn | 4,030,213 | 0% | held |
| 3 | SOLV Solventum Corporation | Healthcare | 17.0% | $641.8m | 8,462,819 | 0% | held |
| 4 | WEN Wendys Co. | Consumer Cyclical | 9.0% | $341.3m | 30,434,794 | 0% | held |
| 5 | Ferguson Plc New | 6.2% | $236.6m | 1,086,357 | 8% | added | |
| 6 | IVZ Invesco Ltd. | Financial Services | 6.1% | $230.7m | 14,628,455 | -37% | reduced |
| 7 | UHAL U-Haul Holding Company | Industrials | 0.6% | $21.4m | 353,335 | -46% | reduced |
| 8 | The Allstate Corporation | 0.5% | $20.1m | 99,955 | -69% | reduced | |
| 9 | U-Haul Holding Company - B | 0.5% | $18.4m | 338,031 | -70% | reduced | |
| 10 | GEHC GE HealthCare Technologies Inc. | Healthcare | 0.0% | $298.4k | 4,029 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.