TRIAN FUND MANAGEMENT, L.P. — 13F Holdings & Portfolio
CIK 1345471 · latest 13F-HR filed 2026-08-12
TRIAN FUND MANAGEMENT, L.P. manages $4.23B in 13F-reported U.S. long-equity assets across 9 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are GE (35.61%), JHG (31.53%), SOLV (15.02%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 0 new positions and exited 0; 5 existing positions rose in reported value and 2 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
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AUM
$4.23B
Long-equity book
Holdings
9
Distinct positions
Period
2026-06-30
Filed 2026-08-12
Q/Q Activity
+0 / −0 / ↑5 / ↓2
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 100%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Jul 31, 2026.
Assets Under Management
$10.39B
Discretionary
$8.30B
Employees
34
Accounts
29
Address
280 PARK AVENUE
NEW YORK, NY 10017-1217
NEW YORK, NY 10017-1217
Phone
(212) 451-3000
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| BALDWIN, BRIAN, MICHAEL Control | INVESTMENT COMMITTEE MEMBER since May 2023 | Less than 5% | Individual |
| FRANK, JOSHUA, DAVID Control | INVESTMENT COMMITTEE MEMBER since May 2023 | Less than 5% | Individual |
| LAVELLE, MARK, GARY Control | CHIEF COMPLIANCE OFFICER AND ASSISTANT GENERAL COUNSEL since Mar 2026 | Less than 5% | Individual |
| MARX, DANIEL, ROBERT Control | GENERAL COUNSEL since Oct 2022 | Less than 5% | Individual |
| MAY, PETER, WILLIAM Control | PRESIDENT, LIMITED PARTNER AND INVESTMENT COMMITTEE MEMBER since Sep 2005 | 5–10% | Individual |
| PELTZ, DARREN, JOSEPH Control | INVESTMENT COMMITTEE MEMBER AND LIMITED PARTNER since Jan 2025 | 10–25% | Individual |
| PELTZ, NELSON, ("NMN") Control | CHIEF EXECUTIVE OFFICER, LIMITED PARTNER AND INVESTMENT COMMITTEE MEMBER since Sep 2005 | 50–75% | Individual |
| SCHORR, BRIAN, LEWIS Control | CHIEF LEGAL OFFICER AND INVESTMENT COMMITTEE MEMBER since Nov 2005 | Less than 5% | Individual |
| TRIAN FUND MANAGEMENT GP, LLC Control | GENERAL PARTNER since Sep 2005 | Less than 5% | Domestic Entity |
| WEEDMAN, LEONARD, WILLIAM Control | CHIEF FINANCIAL OFFICER since Jun 2019 | Less than 5% | Individual |
| BALDWIN, BRIAN, MICHAEL Control Indirect owner via TRIAN FUND MANAGEMENT GP, LLC | INVESTMENT COMMITTEE MEMBER since May 2023 | General partner, trustee or manager | Individual |
| FRANK, JOSHUA, DAVID Control Indirect owner via TRIAN FUND MANAGEMENT GP, LLC | INVESTMENT COMMITTEE MEMBER since May 2023 | General partner, trustee or manager | Individual |
| MAY, PETER, WILLIAM Control Indirect owner via TRIAN FUND MANAGEMENT GP, LLC | MEMBER, PRESIDENT AND INVESTMENT COMMITTEE MEMBER since Sep 2005 | 25–50% | Individual |
| PELTZ, DARREN, JOSEPH Control Indirect owner via TRIAN FUND MANAGEMENT GP, LLC | MEMBER AND INVESTMENT COMMITTEE MEMBER since Jan 2025 | General partner, trustee or manager | Individual |
| PELTZ, NELSON, ("NMN") Control Indirect owner via TRIAN FUND MANAGEMENT GP, LLC | MEMBER, CHIEF EXECUTIVE OFFICER AND INVESTMENT COMMITTEE MEMBER since Sep 2005 | 25–50% | Individual |
| SCHORR, BRIAN, LEWIS Control Indirect owner via TRIAN FUND MANAGEMENT GP, LLC | CHIEF LEGAL OFFICER AND INVESTMENT COMMITTEE MEMBER since May 2023 | General partner, trustee or manager | Individual |
Ownership & leadership changes · 13 filings with changes since Mar 30, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Jul 31, 2026 filing
- No longer listedBUNCH, RYAN, WILSON · INVESTMENT COMMITTEE MEMBER · Less than 5% · control person · listed since Jan 2025
- No longer listedBUNCH, RYAN, WILSON · INVESTMENT COMMITTEE MEMBER · General partner, trustee or manager · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person · listed since Jan 2025
Mar 31, 2026 filing
- AddedLAVELLE, MARK, GARY · CHIEF COMPLIANCE OFFICER AND ASSISTANT GENERAL COUNSEL · Less than 5% · control person
- ChangedMARX, DANIEL, ROBERT · title GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER → GENERAL COUNSEL
- ChangedPELTZ, DARREN, JOSEPH · ownership 5–10% → 10–25%
May 12, 2025 filing
- No longer listedJEROW, JOHN, GORDON · CHIEF COMPLIANCE OFFICER AND ASSISTANT GENERAL COUNSEL · Less than 5% · control person · listed since May 2021
- ChangedMARX, DANIEL, ROBERT · title GENERAL COUNSEL → GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER
Mar 31, 2025 filing
- No longer listedPELTZ, MATTHEW, HEFFNER · CO-CHIEF INVESTMENT OFFICER AND LIMITED PARTNER · 10–25% · control person · listed since May 2023
- No longer listedPELTZ, MATTHEW, HEFFNER · CO-CHIEF INVESTMENT OFFICER · General partner, trustee or manager · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person · listed since May 2023
- AddedBALDWIN, BRIAN, MICHAEL · INVESTMENT COMMITTEE MEMBER · General partner, trustee or manager · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person
- AddedBUNCH, RYAN, WILSON · INVESTMENT COMMITTEE MEMBER · Less than 5% · control person
- AddedBUNCH, RYAN, WILSON · INVESTMENT COMMITTEE MEMBER · General partner, trustee or manager · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person
- AddedPELTZ, DARREN, JOSEPH · INVESTMENT COMMITTEE MEMBER AND LIMITED PARTNER · 5–10% · control person
- AddedPELTZ, DARREN, JOSEPH · MEMBER AND INVESTMENT COMMITTEE MEMBER · General partner, trustee or manager · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person
- AddedSCHORR, BRIAN, LEWIS · CHIEF LEGAL OFFICER AND INVESTMENT COMMITTEE MEMBER · General partner, trustee or manager · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person
- ChangedBALDWIN, BRIAN, MICHAEL · title HEAD OF RESEARCH → INVESTMENT COMMITTEE MEMBER
- ChangedFRANK, JOSHUA, DAVID · title CO-CHIEF INVESTMENT OFFICER → INVESTMENT COMMITTEE MEMBER
- ChangedFRANK, JOSHUA, DAVID · indirect via TRIAN FUND MANAGEMENT GP, LLC: title CO-CHIEF INVESTMENT OFFICER → INVESTMENT COMMITTEE MEMBER
- ChangedMAY, PETER, WILLIAM · title PRESIDENT AND LIMITED PARTNER → PRESIDENT, LIMITED PARTNER AND INVESTMENT COMMITTEE MEMBER
- ChangedMAY, PETER, WILLIAM · indirect via TRIAN FUND MANAGEMENT GP, LLC: title PRESIDENT → MEMBER, PRESIDENT AND INVESTMENT COMMITTEE MEMBER; ownership General partner, trustee or manager → 25–50%
- ChangedPELTZ, NELSON, ("NMN") · title CHIEF EXECUTIVE OFFICER AND LIMITED PARTNER → CHIEF EXECUTIVE OFFICER, LIMITED PARTNER AND INVESTMENT COMMITTEE MEMBER
- ChangedPELTZ, NELSON, ("NMN") · indirect via TRIAN FUND MANAGEMENT GP, LLC: title CHIEF EXECUTIVE OFFICER → MEMBER, CHIEF EXECUTIVE OFFICER AND INVESTMENT COMMITTEE MEMBER
- ChangedSCHORR, BRIAN, LEWIS · title CHIEF LEGAL OFFICER → CHIEF LEGAL OFFICER AND INVESTMENT COMMITTEE MEMBER
Mar 29, 2024 filing
- ChangedMAY, PETER, WILLIAM · ownership 10–25% → 5–10%
Jun 2, 2023 filing
- No longer listedGARDEN, EDWARD, PATRICK · CHIEF INVESTMENT OFFICER AND LIMITED PARTNER · 10–25% · control person · listed since Sep 2005
- No longer listedGARDEN, EDWARD, PATRICK · MEMBER · General partner, trustee or manager · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person · listed since Sep 2005
- AddedBALDWIN, BRIAN, MICHAEL · HEAD OF RESEARCH · Less than 5% · control person
- AddedFRANK, JOSHUA, DAVID · CO-CHIEF INVESTMENT OFFICER · General partner, trustee or manager · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person
- AddedPELTZ, MATTHEW, HEFFNER · CO-CHIEF INVESTMENT OFFICER · General partner, trustee or manager · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person
- ChangedFRANK, JOSHUA, DAVID · title CO-HEAD OF RESEARCH → CO-CHIEF INVESTMENT OFFICER
- ChangedMAY, PETER, WILLIAM · indirect via TRIAN FUND MANAGEMENT GP, LLC: title MEMBER → PRESIDENT
- ChangedPELTZ, MATTHEW, HEFFNER · title CO-HEAD OF RESEARCH AND LIMITED PARTNER → CO-CHIEF INVESTMENT OFFICER AND LIMITED PARTNER
- ChangedPELTZ, NELSON, ("NMN") · indirect via TRIAN FUND MANAGEMENT GP, LLC: title MEMBER → CHIEF EXECUTIVE OFFICER
Mar 31, 2023 filing
- No longer listedROSEN, STUART, IRA · GENERAL COUNSEL · Less than 5% · control person · listed since Nov 2005
- ChangedMARX, DANIEL, ROBERT · title CO-GENERAL COUNSEL → GENERAL COUNSEL
- ChangedPELTZ, MATTHEW, HEFFNER · ownership 5–10% → 10–25%
Mar 31, 2022 filing
- Listed againMARX, DANIEL, ROBERT · CO-GENERAL COUNSEL · Less than 5% · control person
May 4, 2021 filing
- No longer listedMARX, DANIEL, ROBERT · CHIEF COMPLIANCE OFFICER AND ASSISTANT GENERAL COUNSEL · Less than 5% · control person · listed since Mar 2021
- AddedJEROW, JOHN, GORDON · CHIEF COMPLIANCE OFFICER AND ASSISTANT GENERAL COUNSEL · Less than 5% · control person
Mar 31, 2021 filing
- No longer listedCHANG, DAYSUN, SUN · CHIEF COMPLIANCE OFFICER AND ASSISTANT GENERAL COUNSEL · Less than 5% · control person · listed since Jun 2019
- AddedFRANK, JOSHUA, DAVID · CO-HEAD OF RESEARCH · Less than 5% · control person
- AddedMARX, DANIEL, ROBERT · CHIEF COMPLIANCE OFFICER AND ASSISTANT GENERAL COUNSEL · Less than 5% · control person
- ChangedPELTZ, MATTHEW, HEFFNER · title SENIOR ANALYST AND LIMITED PARTNER → CO-HEAD OF RESEARCH AND LIMITED PARTNER; now a control person
Older changes (4 more filings)
Jun 3, 2019 filing
- No longer listedESSNER, GREGORY, ALAN · CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Nov 2005
- No longer listedFELSON, HOWARD, MICHAEL · CHIEF COMPLIANCE OFFICER AND ASSISTANT GENERAL COUNSEL · Less than 5% · control person · listed since Mar 2011
- AddedCHANG, DAYSUN, SUN · CHIEF COMPLIANCE OFFICER AND ASSISTANT GENERAL COUNSEL · Less than 5% · control person
- AddedWEEDMAN, LEONARD, WILLIAM · CHIEF FINANCIAL OFFICER · Less than 5% · control person
Mar 31, 2017 filing
- AddedPELTZ, MATTHEW, HEFFNER · SENIOR ANALYST AND LIMITED PARTNER · 5–10%
- ChangedMAY, PETER, WILLIAM · ownership 25–50% → 10–25%
- ChangedMAY, PETER, WILLIAM · indirect via TRIAN FUND MANAGEMENT GP, LLC: ownership 25–50% → General partner, trustee or manager
- ChangedPELTZ, NELSON, ("NMN") · indirect via TRIAN FUND MANAGEMENT GP, LLC: ownership 50–75% → 25–50%
Mar 31, 2015 filing
- ChangedFELSON, HOWARD, MICHAEL · title CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER AND ASSISTANT GENERAL COUNSEL
Mar 30, 2012 filing (earliest on record)
- ListedESSNER, GREGORY, ALAN · CHIEF FINANCIAL OFFICER · Less than 5% · control person
- ListedFELSON, HOWARD, MICHAEL · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedGARDEN, EDWARD, PATRICK · CHIEF INVESTMENT OFFICER AND LIMITED PARTNER · 10–25% · control person
- ListedGARDEN, EDWARD, PATRICK · MEMBER · General partner, trustee or manager · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person
- ListedMAY, PETER, WILLIAM · PRESIDENT AND LIMITED PARTNER · 25–50% · control person
- ListedMAY, PETER, WILLIAM · MEMBER · 25–50% · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person
- ListedPELTZ, NELSON, ("NMN") · CHIEF EXECUTIVE OFFICER AND LIMITED PARTNER · 50–75% · control person
- ListedPELTZ, NELSON, ("NMN") · MEMBER · 50–75% · indirect via TRIAN FUND MANAGEMENT GP, LLC · control person
- ListedROSEN, STUART, IRA · GENERAL COUNSEL · Less than 5% · control person
- ListedSCHORR, BRIAN, LEWIS · CHIEF LEGAL OFFICER · Less than 5% · control person
- ListedTRIAN FUND MANAGEMENT GP, LLC · GENERAL PARTNER · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- GE Aerospace$362.6M +31.7%
- GE HealthCare Technologies Inc.$197.2M +68509.2%
- Solventum Corporation$97.6M +18.1%
- Wendys Co.$41.0M +19.4%
- Magnum Ice Cream Co NV$593.0K +16.5%
TRIAN FUND MANAGEMENT, L.P. Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | GE Aerospace | GE | 369604301 | $1.51B | 35.61% | 4,030,765 | SH |
| 2 | Janus Henderson Group plc | JHG | G4474Y214 | $1.33B | 31.53% | 25,654,382 | SH |
| 3 | Solventum Corporation | SOLV | 83444M101 | $635.5M | 15.02% | 8,236,753 | SH |
| 4 | Ferguson Plc New | — | G3421J106 | $257.8M | 6.09% | 1,086,357 | SH |
| 5 | GE HealthCare Technologies Inc. | GEHC | 36266G107 | $197.5M | 4.67% | 3,085,344 | SH |
| 6 | Wendys Co. | WEN | 95058W100 | $128.7M | 3.04% | 15,524,968 | SH |
| 7 | Wendys Co. | WEN | 95058W100 | $123.9M | 2.93% | 14,943,466 | SH |
| 8 | Invesco Ltd. | IVZ | G491BT108 | $42.9M | 1.01% | 1,625,472 | SH |
| 9 | Magnum Ice Cream Co NV | MICC | N5505D105 | $4.2M | 0.10% | 241,042 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-12 | $4.23B | 9 | 0001345471-26-000035 |
| 2026-03-31 | 2026-05-15 | $3.86B | 9 | 0001345471-26-000026 |
| 2025-12-31 | 2026-02-17 | $3.98B | 8 | 0001345471-26-000015 |
| 2025-09-30 | 2025-11-14 | $4.11B | 8 | 0001345471-25-000051 |
Filer Information
Address
280 PARK AVENUE41ST FLOOR
NEW YORK, NY 10017
Phone
(212) 451-3000
Filing Manager
TRIAN FUND MANAGEMENT, L.P.
NEW YORK, NY
Signatory
Peter W. May
Member of its General Partner