In Q2 2026, Trian Fund Management held 8 US-listed stocks worth $4.2bn. Its biggest move was cutting Janus Henderson Group (20% fewer shares, now 32%), followed by adding to GE HealthCare Technologies (76194% more shares, now 4.7%). Its largest holding is GE Aerospace at 36%.
Q2 2026, filed 12 Aug 2026 (filing): 0 new, 2 added to, 2 trimmed, 0 sold out. Select a row to see it over time.How this works
Changes compare share counts with Q1 2026, adjusted for stock splits. Share classes of the same company are combined. Values are at quarter-end prices.
13F holdings with change from the previous quarter
Each bar is one 13F. Select a bar or press play to see that quarter’s 12 largest positions.How this works
Bars are split by share of the US portfolio: the six biggest holdings over the period in colour, everything else in grey. The last eight quarters are shown in full, earlier years at year end.
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JHGGEWENSYYPGMDLZEverything else
2013: Janus Henderson Group 0.0%, GE Aerospace 0.0%, Wendy’s 12.2%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 24.7%; 2014: Janus Henderson Group 0.0%, GE Aerospace 0.0%, Wendy’s 6.2%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 17.8%; 2015: Janus Henderson Group 0.0%, GE Aerospace 19.6%, Wendy’s 3.6%, Sysco 14.2%, Procter & Gamble 0.0%, Mondelez International 17.5%; 2016: Janus Henderson Group 0.0%, GE Aerospace 19.2%, Wendy’s 5.4%, Sysco 21.9%, Procter & Gamble 4.9%, Mondelez International 17.7%; 2017: Janus Henderson Group 0.0%, GE Aerospace 10.5%, Wendy’s 5.4%, Sysco 22.9%, Procter & Gamble 29.5%, Mondelez International 15.4%; 2018: Janus Henderson Group 0.0%, GE Aerospace 5.8%, Wendy’s 5.3%, Sysco 19.2%, Procter & Gamble 37.7%, Mondelez International 8.2%; 2019: Janus Henderson Group 0.0%, GE Aerospace 7.6%, Wendy’s 6.2%, Sysco 21.4%, Procter & Gamble 42.3%, Mondelez International 10.9%; 2020: Janus Henderson Group 7.9%, GE Aerospace 5.2%, Wendy’s 8.6%, Sysco 22.6%, Procter & Gamble 20.2%, Mondelez International 10.6%; 2021: Janus Henderson Group 15.9%, GE Aerospace 5.1%, Wendy’s 8.1%, Sysco 13.5%, Procter & Gamble 0.5%, Mondelez International 0.4%; 2022: Janus Henderson Group 15.4%, GE Aerospace 6.9%, Wendy’s 11.8%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 0.0%; 2023: Janus Henderson Group 13.7%, GE Aerospace 7.3%, Wendy’s 8.8%, Sysco 1.3%, Procter & Gamble 0.0%, Mondelez International 0.0%; Q3 ’24: Janus Henderson Group 31.2%, GE Aerospace 19.5%, Wendy’s 13.7%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 0.0%; Q4 ’24: Janus Henderson Group 34.9%, GE Aerospace 17.3%, Wendy’s 12.8%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 0.0%; Q1 ’25: Janus Henderson Group 30.8%, GE Aerospace 21.6%, Wendy’s 11.9%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 0.0%; Q2 ’25: Janus Henderson Group 32.6%, GE Aerospace 27.4%, Wendy’s 9.2%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 0.0%; Q3 ’25: Janus Henderson Group 34.5%, GE Aerospace 29.5%, Wendy’s 6.8%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 0.0%; Q4 ’25: Janus Henderson Group 38.0%, GE Aerospace 31.2%, Wendy’s 6.4%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 0.0%; Q1 ’26: Janus Henderson Group 42.4%, GE Aerospace 29.6%, Wendy’s 5.5%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 0.0%; Q2 ’26: Janus Henderson Group 31.5%, GE Aerospace 35.6%, Wendy’s 6.0%, Sysco 0.0%, Procter & Gamble 0.0%, Mondelez International 0.0%
Q1 Q2 Q3 Q4 · each quarter is that quarter’s profits times the stake reported at its end. *2026 so far: 2 quarters. Click a quarter to see its holdings.
Net income is as reported (GAAP), so it includes one-off items and, for some companies, gains or losses on investments they hold. Companies that report under IFRS (most non-US companies) or whose shares we can’t match reliably are left out; “portfolio covered” shows how much is included. Look-through earnings explained. Growth compares earnings per share over the last 12 months with the 12 months a year earlier, for holdings profitable in both.
5% stake filings
Holdings of 5% or more of a company (13D and 13G), usually reported well before the next 13F.How this works
Trian Fund Management’s filings since December 2024, newest first. An amendment showing less than 5% means the holding fell below the threshold. A 13D means the holder may seek to influence the company. How to read a 13D.