# Trian Fund Management: 13F portfolio, Q2 2026

Investment firm, New York.

Source: SEC Form 13F filed 2026-08-12 for the quarter ended 2026-06-30: https://www.sec.gov/Archives/edgar/data/1345471/000134547126000035/0001345471-26-000035-index.htm
Values are as the manager reported them in the filing, not current market prices.
Page: https://valuepeg.com/managers/trian-fund-management
Updated: 2026-08-12 · Next filing due by 2026-11-14

## Summary
- Reported value: $4.2B (Q1 2026: $3.9B)
- Positions: 8 (Q1 2026: 8)
- Top 10 holdings: 100.0% of the portfolio
- This quarter: 0 new, 2 added to, 2 trimmed, 0 sold out

## What Trian Fund Management did in Q2 2026
Trian Fund Management raised its stake in GE HealthCare Technologies by 76194%. General Electric is now the largest holding, at 35.6% of the portfolio.

## Biggest buys
- GE HealthCare Technologies (GEHC): +76194%
- Wendy's (WEN): +0.1%

## Biggest sells
- Invesco (IVZ): −45%
- Janus Henderson Group (JHG): −19%

## Top 8 holdings
| # | Company | Ticker | % of portfolio | Reported value | Change vs Q1 2026 | Held since |
|---|---|---|---|---|---|---|
| 1 | General Electric | GE | 35.6% | $1.5B | No change | Q3 2024 or earlier |
| 2 | Janus Henderson Group | JHG | 31.5% | $1.3B | −19% | Q3 2024 or earlier |
| 3 | Solventum | SOLV | 15.0% | $635.5M | No change | Q3 2024 or earlier |
| 4 | Ferguson |  | 6.1% | $257.8M | No change | Q3 2024 or earlier |
| 5 | Wendy's | WEN | 6.0% | $252.6M | +0.1% | Q3 2024 or earlier |
| 6 | GE HealthCare Technologies | GEHC | 4.7% | $197.5M | +76194% | Q3 2024 or earlier |
| 7 | Invesco | IVZ | 1.0% | $42.9M | −45% | Q3 2024 or earlier |
| 8 | Magnum Ice Cream | MICC | 0.1% | $4.2M | No change | Q1 2026 |

## Other value investors
- Triple Frond Partners: https://valuepeg.com/managers/triple-frond-partners
- Tweedy, Browne: https://valuepeg.com/managers/tweedy-browne
- ValueAct: https://valuepeg.com/managers/valueact
- Viking Global Investors: https://valuepeg.com/managers/viking-global
- Wedgewood Partners: https://valuepeg.com/managers/wedgewood-partners

## About this data
- **What is a 13F?** A quarterly report to the SEC in which an investment manager with over $100 million in US-listed stocks lists what it holds.
- **How current is it?** Managers file up to 45 days after each quarter ends, so the holdings may have changed since.
- **Whose figures are these?** The values are as the manager reported them in the filing, not today's prices. The SEC lets a manager keep some positions confidential for a time, and those are not in the filing.
- **What does it leave out?** Short positions, cash, bonds and most holdings outside US markets. Options are left out here too.

Not investment advice.