Trian Fund Management
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Nelson Peltz's Trian Fund Management reported 7 stock positions worth $4.0 billion. Its top holding was Janus Henderson (JHG) at 38.1% of the portfolio, followed by General Electric (GE, 31.2%) and Solventum (SOLV, 16.4%). Compared with Q3 2025, it added to 3 and reduced 2. The biggest buy was General Electric (GE, shares +0%) and the biggest sale Invesco (IVZ, shares −80%).
- Most Recent 13F
- Q2 2026
- Notable People
- Nelson Peltz
- Location
- NEW YORK, NY
- CIK
- 0001345471
- Portfolio Value
- $4.0B (Q4 2025)
- SEC Filing
- 0001345471-26-000015 ↗ filed Feb 17, 2026
Holdings Value
Holdings 7 stocks · $4.0B
| JHG Janus Henderson Group PLC | 38.05% | 31,867,800 | $1.5B | No change |
| GE General Electric filed as GE AEROSPACE | 31.16% | 4,030,765 | $1.2B | Add +0.0% |
| SOLV Solventum Corp. | 16.38% | 8,236,753 | $652.7M | Reduce -2.7% |
| WEN The Wendy's Co. | 6.36% | 30,440,318 | $253.6M | Add +0.0% |
| FERG Ferguson Jersey Ltd. | 6.07% | 1,086,357 | $241.9M | No change |
| IVZ Invesco Ltd. | 1.96% | 2,970,944 | $78.0M | Reduce -79.7% |
| GEHC GE Healthcare Technology | 0.01% | 4,044 | $332K | Add +0.4% |
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
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 |