Trian Fund Management

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q1 2024

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Nelson Peltz's Trian Fund Management reported 12 stock positions worth $4.1 billion. Its top holding was Janus Henderson (JHG) at 26.2% of the portfolio, followed by General Electric (GE, 15.6%) and Wendy's (WEN, 13.0%). Compared with Q1 2024, it opened 4 new positions, sold out of 1, added to 1 and reduced 4. The biggest buy was a new position in Solventum (SOLV) and the biggest sale Walt Disney (DIS, shares −92%).

Most Recent 13F: Q2 2026
Notable People: Nelson Peltz
Location: NEW YORK, NY
CIK: 0001345471
Portfolio Value: $4.1B (Q2 2024)
SEC Filing: 0001345471-24-000032 ↗ filed Aug 14, 2024

Holdings Value

Holdings 12 stocks · $4.1B


JHG Janus Henderson Group PLC	26.20%	31,867,800	$1.1B	No change
GE General Electric filed as GE AEROSPACE	15.63%	4,030,213	$640.7M	No change
WEN The Wendy's Co.	13.03%	31,507,868	$534.4M	Add +0.1%
IVZ Invesco Ltd.	9.93%	27,223,734	$407.3M	Reduce -19.8%
FERG Ferguson Jersey Ltd.	9.23%	1,953,863	$378.4M	Reduce -21.6%
The Allstate Corporation filed as Allstate Corporation	7.84%	2,013,508	$321.5M	Reduce -10.0%
SOLV Solventum Corp.	6.91%	5,360,579	$283.5M	New
DIS The Walt Disney Co. filed as DISNEY WALT CO	6.41%	2,645,583	$262.7M	Reduce -91.8%
GEHC GE Healthcare Technology	2.55%	1,342,833	$104.6M	No change
UHAL.B U-Haul Holding Co.-Non Voting	1.33%	909,300	$54.6M	New
UHAL U-Haul Holding Co.	0.59%	389,700	$24.1M	New
RTO Rentokil Initial PLC-SP ADR	0.34%	470,000	$13.9M	New

Portfolio Sells Q1 2024 → Q2 2024


DIS The Walt Disney Co.	Reduce -91.8%	6.41%	−42.92
SYY Sysco Corp.	Sold out	0.00%	−1.24
FERG Ferguson Jersey Ltd.	Reduce -21.6%	9.23%	+2.44
IVZ Invesco Ltd.	Reduce -19.8%	9.93%	+2.91
The Allstate Corporation	Reduce -10.0%	7.84%	+3.02

Portfolio Buys Q1 2024 → Q2 2024


SOLV Solventum Corp.	New	6.91%	+6.91
WEN The Wendy's Co.	Add +0.1%	13.03%	+5.64
UHAL.B U-Haul Holding Co.-Non Voting	New	1.33%	+1.33
UHAL U-Haul Holding Co.	New	0.59%	+0.59
RTO Rentokil Initial PLC-SP ADR	New	0.34%	+0.34

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	8	$4.2B	GE, JHG, SOLV, FERG, WEN
Q1 2026	8	$3.9B	JHG, GE, SOLV, FERG, WEN
Q4 2025	7	$4.0B	JHG, GE, SOLV, WEN, FERG
Q3 2025	7	$4.1B	JHG, GE, SOLV, IVZ, WEN
Q2 2025	10	$3.8B	JHG, GE, SOLV, WEN, FERG
Q1 2025	10	$3.7B	JHG, GE, SOLV, WEN, IVZ
Q4 2024	10	$3.9B	JHG, GE, SOLV, WEN, IVZ
Q3 2024	10	$3.9B	JHG, GE, WEN, SOLV, IVZ
Q2 2024	12	$4.1B	JHG, GE, WEN, IVZ, FERG
Q1 2024	9	$8.0B	DIS, JHG, GE, WEN, IVZ