TF
Trian Fund Management, L.p.
Concentrated strategySector-focusedMomentum follower
Total reported value
$3.9B
Reporting period: 2026-03-31 · Number of holdings: 9
TRIAN FUND MANAGEMENT, L.P. disclosed 9 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $3.9B and a quarterly turnover rate of 10.1%.
Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 10.12
- Momentum/Contrarian
- 100
- Sector conviction
- 100
- Diversification
- 16
- Sizing Uniformity
- 87.54
Recent moves
Add JHG
0.0% $121.1M
Trim SOLV
0.0% -$114.8M
Trim GE
0.0% -$97.8M
Trim WEN
+0.0% -$42.0M
Add FERG
0.0% $11.5M
Trim IVZ
0.0% -$5.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
Showing top 8 holdings (of 9 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | JHG | Janus Henderson Group plc | Stock-Financials | 42.41% | +4.36% | — | |
| 2 | GE | General Electric | Stock-Industrials | 29.63% | -1.53% | — | |
| 3 | SOLV | Solventum CORP | Stock-Healthcare | 13.93% | -2.44% | — | |
| 4 | FERG | Ferguson Enterprises Inc. | Stock-Industrials | 6.57% | +0.50% | — | |
| 5 | WEN | Wendy's Co/the | Stock-Consumer Disc | 5.48% | -0.88% | +0.02% | |
| 6 | IVZ | Invesco Ltd. | Stock-Financials | 1.87% | -0.09% | — | |
| 7 | MICC | The Magnum Ice Cream Company N. | Stock-Consumer Staples | 0.09% | +0.09% | NEW | |
| 8 | GEHC | GE Healthcare Technology | Stock-Healthcare | 0.01% | — | — |
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 9 | $3.9B | 10 | |
| 2025-12-31 | 8 | $4.0B | 11 | |
| 2025-09-30 | 8 | $4.1B | 29 | |
| 2025-06-30 | 11 | $3.8B | 0 | |
| 2025-03-31 | 11 | $3.7B | 100 | |
| 2024-12-31 | 11 | $3.9B | 0 | |
| 2024-09-30 | 11 | $3.9B | 0 | |
| 2024-06-30 | 14 | $4.1B | 0 | |
| 2024-03-31 | 12 | $8.0B | 0 | |
| 2023-12-31 | 12 | $7.0B | 0 | |
| 2023-09-30 | 12 | $6.6B | 0 | |
| 2023-06-30 | 8 | $3.9B | 0 | |
| 2023-03-31 | 8 | $3.8B | 0 | |
| 2022-12-31 | 9 | $4.9B | 0 | |
| 2022-09-30 | 9 | $3.8B | 0 | |
| 2022-06-30 | 9 | $4.5B | 0 | |
| 2022-03-31 | 9 | $6.0B | 0 | |
| 2021-12-31 | 10 | $7.5B | 0 | |
| 2021-09-30 | 10 | $8.0B | 0 | |
| 2021-06-30 | 10 | $8.6B | 99 | |
| 2021-03-31 | 10 | $8.5B | 33 | |
| 2020-12-31 | 8 | $6.8B | 16 | |
| 2020-09-30 | 9 | $6.1B | 100 | |
| 2020-06-30 | 7 | $4.8B | 0 | |
| 2020-03-31 | 8 | $6.9B | 32 | |
| 2019-12-31 | 8 | $9.5B | 11 | |
| 2019-09-30 | 8 | $9.6B | 15 | |
| 2019-06-30 | 9 | $9.5B | 11 | |
| 2019-03-31 | 8 | $9.3B | 16 | |
| 2018-12-31 | 9 | $9.2B | 23 | |
| 2018-09-30 | 9 | $10.3B | 100 | |
| 2018-06-30 | 8 | $10.0B | 0 | |
| 2018-03-31 | 7 | $9.9B | 18 | |
| 2017-12-31 | 7 | $11.8B | 18 | |
| 2017-09-30 | 8 | $13.0B | 21 | |
| 2017-06-30 | 8 | $13.3B | 4 | |
| 2017-03-31 | 8 | $13.3B | 29 | |
| 2016-12-31 | 8 | $11.1B | 30 | |
| 2016-09-30 | 7 | $10.2B | 6 | |
| 2016-06-30 | 7 | $10.5B | 11 | |
| 2016-03-31 | 9 | $10.4B | 24 | |
| 2015-12-31 | 10 | $12.3B | 8 | |
| 2015-09-30 | 12 | $11.7B | 100 | |
| 2015-06-30 | 11 | $9.0B | 0 | |
| 2015-03-31 | 12 | $8.6B | 17 | |
| 2014-12-31 | 13 | $9.4B | 21 | |
| 2014-09-30 | 13 | $7.6B | 19 | |
| 2014-06-30 | 13 | $6.8B | 100 | |
| 2014-03-31 | 13 | $5.8B | 0 | |
| 2013-12-31 | 13 | $5.9B | 15 | |
| 2013-09-30 | 11 | $5.5B | 16 | |
| 2013-06-30 | 13 | $5.1B | 0 |
Holding changes this quarter
Trian Fund Management, L.p.'s most significant position changes for 2026-03-31: New buy: The Magnum Ice Cream Company N. (MICC); Add: Wendy's Co/the (WEN) — shares +0.02%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | JHG | Janus Henderson Group plc | +4.4% | — | Unchanged |
| 2 | FERG | Ferguson Enterprises Inc. | +0.5% | — | Unchanged |
| 3 | GEHC | GE Healthcare Technology | — | — | Unchanged |
| 4 | IVZ | Invesco Ltd. | -0.1% | — | Unchanged |
| 5 | WEN | Wendy's Co/the | -0.9% | +0.02% | Add |
| 6 | GE | General Electric | -1.5% | — | Unchanged |
| 7 | SOLV | Solventum CORP | -2.4% | — | Unchanged |
| 8 | MICC | The Magnum Ice Cream Company N. | — | NEW | New buy |
FAQ
What is Trian Fund Management, L.p. and what type of investor is it?
Trian Fund Management, L.p. is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $3.9B, spread across 9 disclosed positions.
What are Trian Fund Management, L.p.'s largest equity positions?
Based on the latest 13F filing, Trian Fund Management, L.p.'s top holdings by market value are:
1. Janus Henderson Group plc (JHG) — $1.6B (42.4%)
2. General Electric (GE) — $1.1B (29.6%)
3. Solventum CORP (SOLV) — $537.9M (13.9%)
4. Ferguson Enterprises Inc. (FERG) — $253.4M (6.6%)
5. Wendy's Co/the (WEN) — $211.6M (5.5%)
What changes did Trian Fund Management, L.p. make in its most recent portfolio filing?
In the latest quarter, Trian Fund Management, L.p. was primarily adding exposure — initiating 1 new positions and adding to 1 existing holdings. The largest of these moves: New buy: The Magnum Ice Cream Company N. (MICC); Add: Wendy's Co/the (WEN) — shares +0.02%
What sectors does Trian Fund Management, L.p. focus on?
Trian Fund Management, L.p. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 44.3%
• Industrials: 36.2%
• Health Care: 13.9%
• Consumer Discretionary: 5.5%
• Consumer Staples: 0.1%