Trian Fund Management, L.P. holds a concentrated book of 8 stocks worth $3.9B as of Q1 2026 (disclosed May 15, 2026, a ~45-day 13F lag). This quarter they opened Magnum Ice Cream Co NV. Their largest long position is Janus Henderson Group PLC at 42% of the equity book.
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Use Arkolith to show TRIAN FUND MANAGEMENT, L.P.'s latest holdings, largest changes, and filing provenance.
Top-heavy: concentrated book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
93% mapped to company sectors
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices, no cost basis
No trims or exits this quarter.
Bars show each stock's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | Janus Henderson Group plc ORD SHS | $1.6B | 31.87M | 42.4% | —Held | |
| 2 | GE Aerospace COM NEW | $1.1B | 4.03M | 29.6% | —Held | |
| 3 | Solventum Corporation COM SHS | $537.9M | 8.24M | 13.9% | —Held | |
| 4 | Ferguson Plc New SHS | $253.4M | 1.09M | 6.6% | —Held | |
| 5 | Wendys Co. COM | $211.6M | 30.45M | 5.5% | ▲~0% Added · +6K sh | |
| 6 | Invesco Ltd. SHS | $72.2M | 2.97M | 1.9% | —Held | |
| 7 | Magnum Ice Cream Co NV ORD SHS | $3.6M | 241.0K | 0.1% | ▲New New position | |
| 8 | GE HealthCare Technologies Inc. COM | $288K | 4.0K | 0.0% | —Held |
As-of date vs the date the SEC received each filing
| Quarter | As of | Filed | Positions | Value | Form |
|---|---|---|---|---|---|
| Q1 2026 | Mar 31, 2026 | May 15, 2026 | 9 | $3.9B | 13F-HR |
| Q4 2025 | Dec 31, 2025 | Feb 17, 2026 | 8 | $4.0B | 13F-HR |
| Q3 2025 | Sep 30, 2025 | Nov 14, 2025 | 8 | $4.1B | 13F-HR |
| Q2 2025 | Jun 30, 2025 | Aug 14, 2025 | 11 | $3.8B | 13F-HR |
| Q1 2025 | Mar 31, 2025 | May 15, 2025 | 11 | $3.7B | 13F-HR |
| Q4 2024 | Dec 31, 2024 | Feb 14, 2025 | 11 | $3.9B | 13F-HR |
| Q3 2024 | Sep 30, 2024 | Nov 13, 2024 | 11 | $3.9B | 13F-HR |
| Q2 2024 | Jun 30, 2024 | Aug 14, 2024 | 14 | $4.1B | 13F-HR |
| Q1 2024 | Mar 31, 2024 | May 15, 2024 | 12 | $8.0B | 13F-HR |
| Q4 2023 | Dec 31, 2023 | Feb 14, 2024 | 12 | $7.0B | 13F-HR |
| Q3 2023 | Sep 30, 2023 | Nov 14, 2023 | 12 | $6.6B | 13F-HR |
| Q2 2023 | Jun 30, 2023 | Aug 15, 2023 | 8 | $3.9B | 13F-HR/A |
| Q1 2023 | Mar 31, 2023 | May 15, 2023 | 8 | $3.8B | 13F-HR |
| Q4 2022 | Dec 31, 2022 | Feb 15, 2023 | 9 | $4.9B | 13F-HR/A |
| Q3 2022 | Sep 30, 2022 | Nov 14, 2022 | 9 | $3.8B | 13F-HR |
| Q2 2022 | Jun 30, 2022 | Aug 12, 2022 | 9 | $4.5B | 13F-HR |
| Q1 2022 | Mar 31, 2022 | May 13, 2022 | 9 | $6.0B | 13F-HR |
| Q4 2021 | Dec 31, 2021 | Feb 11, 2022 | 10 | $7.5B | 13F-HR |
| Q3 2021 | Sep 30, 2021 | Nov 12, 2021 | 10 | $8.0B | 13F-HR |
| Q2 2021 | Jun 30, 2021 | Aug 13, 2021 | 10 | $8.6B | 13F-HR |
| Q1 2021 | Mar 31, 2021 | May 14, 2021 | 10 | $8.5B | 13F-HR |
Founding Partner and CEO of Trian Fund Management.
Holdings from SEC EDGAR 13F-HR filings, updated quarterly ~45 days after quarter-end. Public domain. The book and weighting are long equity only; disclosed put/call options are listed separately and excluded from those totals. Price-derived performance is withheld until the price-source policy and freshness gate are green.