Trian Fund Management
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Nelson Peltz's Trian Fund Management reported 10 stock positions worth $3.9 billion. Its top holding was Janus Henderson (JHG) at 34.9% of the portfolio, followed by General Electric (GE, 17.3%) and Solventum (SOLV, 14.4%). Compared with Q3 2024, it added to 4 and reduced 2. The biggest buy was Solventum (SOLV, shares +19%) and the biggest sale Allstate (shares −50%).
- Most Recent 13F
- Q2 2026
- Notable People
- Nelson Peltz
- Location
- NEW YORK, NY
- CIK
- 0001345471
- Portfolio Value
- $3.9B (Q4 2024)
- SEC Filing
- 0001345471-25-000009 ↗ filed Feb 14, 2025
Holdings Value
Holdings 10 stocks · $3.9B
| JHG Janus Henderson Group PLC | 34.93% | 31,867,800 | $1.4B | No change |
| GE General Electric filed as GE AEROSPACE | 17.32% | 4,030,213 | $672.2M | No change |
| SOLV Solventum Corp. | 14.41% | 8,462,819 | $559.1M | Add +18.8% |
| WEN The Wendy's Co. | 12.82% | 30,525,029 | $497.6M | Add +0.0% |
| IVZ Invesco Ltd. | 10.44% | 23,173,442 | $405.1M | No change |
| FERG Ferguson Jersey Ltd. | 5.53% | 1,237,274 | $214.8M | Reduce -2.6% |
| UHAL.B U-Haul Holding Co.-Non Voting | 1.86% | 1,124,700 | $72.0M | Add +7.2% |
| The Allstate Corporation | 1.52% | 306,722 | $59.1M | Reduce -50.0% |
| UHAL U-Haul Holding Co. | 1.16% | 652,000 | $45.0M | Add +45.0% |
| GEHC GE Healthcare Technology | 0.01% | 4,029 | $315K | No change |
Portfolio Sells Q3 2024 → Q4 2024
| The Allstate Corporation | Reduce -50.0% | 1.52% | −1.47 |
| FERG Ferguson Jersey Ltd. | Reduce -2.6% | 5.53% | −0.95 |
Portfolio Buys Q3 2024 → Q4 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 |