# Nelson Peltz — Trian Fund Management

Portfolio USD 4,230,905,000 · 8 positions · 2026 Q2 · history from 2015 Q1.
Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/TF

## Positions (2026 Q2)

| Ticker | Company | % of portfolio | Value | This quarter | Holders |
|---|---|---:|---:|---|---:|
| GE | GE Aerospace | 36% | USD 1,506,418,000 | hold |  |
| JHG-OLD | Janus Henderson Group | 32% | USD 1,334,028,000 | -19.5% |  |
| SOLV | Solventum Corp | 15% | USD 635,465,000 | hold |  |
| FERG | Ferguson Enterprises Inc. | 6.1% | USD 257,825,000 | hold |  |
| WEN | Wendy's Co. | 6.0% | USD 252,583,000 | +0.07% |  |
| GEHC | GE HealthCare Technologies Inc. | 4.7% | USD 197,493,000 | +76194.36% |  |
| IVZ | Invesco Ltd | 1.0% | USD 42,896,000 | -45.29% |  |
| MICC | Magnum Ice Cream Co NV | 0.1% | USD 4,197,000 | hold |  |

## Moves this quarter (4)

- JHG-OLD Janus Henderson Group: -19.5% (USD 1,334,028,000)
- WEN Wendy's Co.: +0.07% (USD 252,583,000)
- GEHC GE HealthCare Technologies Inc.: +76194.36% (USD 197,493,000)
- IVZ Invesco Ltd: -45.29% (USD 42,896,000)

## Portfolio value by quarter

- 2015 Q1: USD 8,560,325,710 (10 positions)
- 2015 Q2: USD 10,349,249,959 (12 positions)
- 2015 Q3: USD 11,714,650,521 (12 positions)
- 2015 Q4: USD 12,331,242,254 (10 positions)
- 2016 Q1: USD 10,383,517,233 (9 positions)
- 2016 Q2: USD 10,497,015,425 (7 positions)
- 2016 Q3: USD 10,235,800,186 (7 positions)
- 2016 Q4: USD 11,094,099,987 (8 positions)
- 2017 Q1: USD 13,332,942,655 (8 positions)
- 2017 Q2: USD 13,268,553,079 (8 positions)
- 2017 Q3: USD 12,983,561,754 (8 positions)
- 2017 Q4: USD 11,820,093,777 (7 positions)
- 2018 Q1: USD 9,913,351,199 (7 positions)
- 2018 Q2: USD 10,303,755,003 (9 positions)
- 2018 Q3: USD 10,339,326,339 (9 positions)
- 2018 Q4: USD 9,236,004,860 (9 positions)
- 2019 Q1: USD 9,343,398,718 (8 positions)
- 2019 Q2: USD 9,474,077,173 (9 positions)
- 2019 Q3: USD 9,579,911,382 (8 positions)
- 2019 Q4: USD 9,484,455,798 (8 positions)
- 2020 Q1: USD 6,938,353,956 (8 positions)
- 2020 Q2: USD 5,528,689,132 (10 positions)
- 2020 Q3: USD 6,051,934,412 (9 positions)
- 2020 Q4: USD 6,757,104,669 (8 positions)
- 2021 Q1: USD 8,456,749,278 (9 positions)
- 2021 Q2: USD 8,553,356,544 (9 positions)
- 2021 Q3: USD 8,043,680,633 (9 positions)
- 2021 Q4: USD 7,458,482,659 (9 positions)
- 2022 Q1: USD 5,972,718,399 (8 positions)
- 2022 Q2: USD 4,549,962,138 (8 positions)
- 2022 Q3: USD 3,798,124,040 (8 positions)
- 2022 Q4: USD 4,873,288,279 (8 positions)
- 2023 Q1: USD 3,751,176,418 (8 positions)
- 2023 Q2: USD 3,881,136,026 (8 positions)
- 2023 Q3: USD 6,573,897,872 (9 positions)
- 2023 Q4: USD 7,006,738,883 (9 positions)
- 2024 Q1: USD 8,020,687,159 (9 positions)
- 2024 Q2: USD 4,100,188,045 (12 positions)
- 2024 Q3: USD 3,890,614,006 (10 positions)
- 2024 Q4: USD 3,880,505,606 (10 positions)
- 2025 Q1: USD 3,735,730,143 (10 positions)
- 2025 Q2: USD 3,791,909,027 (10 positions)
- 2025 Q3: USD 4,107,247,165 (7 positions)
- 2025 Q4: USD 3,984,428,759 (7 positions)
- 2026 Q1: USD 3,860,164,366 (8 positions)
- 2026 Q2: USD 4,230,905,000 (8 positions)