Trian Fund Management
In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Nelson Peltz's Trian Fund Management reported 10 stock positions worth $3.9 billion. Its top holding was Janus Henderson (JHG) at 31.2% of the portfolio, followed by General Electric (GE, 19.5%) and Wendy's (WEN, 13.7%). Compared with Q2 2024, it sold out of 2, added to 3 and reduced 5. The biggest buy was Solventum (SOLV, shares +33%) and the biggest sale an exit from Walt Disney (DIS).
- Most Recent 13F
- Q2 2026
- Notable People
- Nelson Peltz
- Location
- NEW YORK, NY
- CIK
- 0001345471
- Portfolio Value
- $3.9B (Q3 2024)
- SEC Filing
- 0001345471-24-000040 ↗ filed Nov 13, 2024
Holdings Value
Holdings 10 stocks · $3.9B
| JHG Janus Henderson Group PLC | 31.18% | 31,867,800 | $1.2B | No change |
| GE General Electric filed as GE AEROSPACE | 19.53% | 4,030,213 | $760.0M | No change |
| WEN The Wendy's Co. | 13.74% | 30,512,595 | $534.6M | Reduce -3.2% |
| SOLV Solventum Corp. | 12.77% | 7,126,255 | $496.8M | Add +32.9% |
| IVZ Invesco Ltd. | 10.46% | 23,173,442 | $406.9M | Reduce -14.9% |
| FERG Ferguson Jersey Ltd. | 6.49% | 1,270,810 | $252.3M | Reduce -35.0% |
| The Allstate Corporation filed as Allstate Corp/The | 2.99% | 613,447 | $116.3M | Reduce -69.5% |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.94% | 1,049,055 | $75.5M | Add +15.4% |
| UHAL U-Haul Holding Co. | 0.90% | 449,595 | $34.8M | Add +15.4% |
| GEHC GE Healthcare Technology | 0.01% | 4,029 | $378K | Reduce -99.7% |
Portfolio Sells Q2 2024 → Q3 2024
| DIS The Walt Disney Co. | Sold out | 0.00% | −6.41 |
| The Allstate Corporation | Reduce -69.5% | 2.99% | −4.85 |
| FERG Ferguson Jersey Ltd. | Reduce -35.0% | 6.49% | −2.74 |
| GEHC GE Healthcare Technology | Reduce -99.7% | 0.01% | −2.54 |
| RTO Rentokil Initial PLC-SP ADR | Sold out | 0.00% | −0.34 |
| IVZ Invesco Ltd. | Reduce -14.9% | 10.46% | +0.52 |
| WEN The Wendy's Co. | Reduce -3.2% | 13.74% | +0.70 |
Portfolio Buys Q2 2024 → Q3 2024
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 |