TRIAN FUND MANAGEMENT, L.P.
Portfolio value QoQ: +9.6% 13F does not disclose cash
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 4.88% Est. buys $197,419,808 · sells $358,604,742
Median holding: 6.0 quarters Tracked Q1 2025–Q2 2026 · 72.7% still held
Performance vs S&P 500
Annualized: +30.5% · S&P 500: +28.7%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Sector breakdown
Full portfolio 8 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| GE | $1,506,417,803 | 35.61% | 4,030,765 | $362,607,619 | |||
| JHG | $1,334,027,864 | 31.53% | 25,654,382 | $-303,021,022 | Down ×1 | ||
| SOLV | $635,465,494 | 15.02% | 8,236,753 | $97,605,523 | |||
| FERG | $257,825,107 | 6.09% | 1,086,357 | $4,421,473 | |||
| WEN | $252,583,318 | 5.97% | 30,468,434 | $40,983,465 | Up ×5 | ||
| GEHC | $197,492,869 | 4.67% | 3,085,344 | $197,205,017 | Up ×1 | ||
| IVZ | $42,896,206 | 1.01% | 1,625,472 | $-29,268,024 | Down ×1 | ||
| MICC | $4,196,541 | 0.10% | 241,042 | $592,963 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| WEN | $252,583,318 | 5.97% | up ×5 |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| GE | Price move only | +0 | +$362.6M |
| JHG | Trimmed | -6.2M | -$303.0M |
| SOLV | Price move only | +0 | +$97.6M |
| WEN | Bought more | +22K | +$41.0M |
| IVZ | Trimmed | -1.3M | -$29.3M |
| FERG | Price move only | +0 | +$4.4M |
| MICC | Price move only | +0 | +$593K |
1 position hidden — reported move looks larger than the position itself (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| UHAL | Sept. 30, 2025 | 353,335 | $21,397,968 | 7.6% |
| UHALB | Sept. 30, 2025 | 338,031 | $18,378,745 | No longer tracked |