# Trian Fund Management portfolio: Q2 2026 13F holdings

Nelson Peltz and Josh Frank’s Trian Fund Management: $4.2bn in 8 US holdings at Q2 2026, with buys and sells.

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%.

13F for the quarter ending 2026-06-30, filed 2026-08-12 ([filing](https://www.sec.gov/Archives/edgar/data/1345471/000134547126000035/0001345471-26-000035-index.htm)). $4.2bn in US-listed holdings.

## 13F holdings

| Company | Value | Portfolio | Change | Q1 2026 |
| --- | --- | --- | --- | --- |
| GE Aerospace (GE) | $1.5bn | 35.6% | Unchanged | 29.6% |
| Janus Henderson Group (JHG) | $1.3bn | 31.5% | Trimmed -19% | 42.4% |
| Solventum (SOLV) | $635m | 15.0% | Unchanged | 13.9% |
| Ferguson (FERG1GBX) | $258m | 6.1% | Unchanged | 6.6% |
| Wendy’s (WEN) | $253m | 6.0% | Added +0.1% | 5.5% |
| GE HealthCare Technologies (GEHC) | $197m | 4.7% | Added +76194% | 0.0% |
| Invesco (IVZ) | $42.9m | 1.0% | Trimmed -45% | 1.9% |
| Magnum ICE Cream (MICC) | $4.2m | 0.1% | Unchanged | 0.1% |

Source: SEC filings, via moatshark (https://www.moatshark.com/m/trian-fund-management). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.