Nelson Peltz portfolio
Latest holdings of Trian Fund Management as of Q2 2026: 8 positions worth $4.2B, decoded into plain English.
Portfolio summary and charts
- General Electric (GE) is the largest position at 35.6% of a $4.2B portfolio.
- Biggest buy: added most to GE HealthCare Technologies, about $197M of new money.
- Biggest sale: trimmed Janus Henderson, about $323M.
- Very high conviction: the top 10 holdings make up 100%, and the portfolio behaves like 4 equal-sized bets.
Every box is a position, sized by its weight
What this meansGeneral Electric alone is 36% of the portfolio, and the top three make up 82%. Colors show what changed since last quarter, so you can spot fresh conviction at a glance.
Where the money is
What this meansOther is the biggest slice at 38% of the portfolio.
How focused is the portfolio?
What this meansThe steeper the gold curve rises above the dashed line, the more the portfolio depends on a few big bets. It behaves like 4 equal-sized positions.
Biggest buys and sells
What this meansThe largest move was adding to GE HealthCare Technologies, worth about $197M. Values are estimated at quarter-end prices.
Two years of reported value
What this meansValue changes with both market prices and new money in or out. It moved from $4.1B to $4.2B over 9 quarters.
How today’s top positions grew over time
What this meansWide, steady bands are long-term core holdings; bands that appear suddenly are recent bets.
All 8 positions
| # | Stock | Sector | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|---|---|
| 1 | GE General Electric | Technology | 35.61% | Hold | 4,030,765 | $1.5B |
| 2 | Janus Janus Henderson | Other | 31.53% | Trimmed −19% | 25,654,382 | $1.3B |
| 3 | SOLV Solventum | Health Care | 15.02% | Hold | 8,236,753 | $635M |
| 4 | Ferguson Ferguson | Other | 6.09% | Hold | 1,086,357 | $258M |
| 5 | WEN Wendy's | Consumer Discretionary | 5.97% | Hold | 30,468,434 | $253M |
| 6 | GEHC GE HealthCare Technologies | Health Care | 4.67% | Added +76194% | 3,085,344 | $197M |
| 7 | IVZ Invesco | Financials | 1.01% | Trimmed −45% | 1,625,472 | $43M |
| 8 | MICC Magnum Ice Cream | Consumer Staples | 0.10% | Hold | 241,042 | $4M |
Values as reported at quarter end (30 Jun 2026). Activity compares share counts with the Q1 2026 filing. Source: SEC filing 0001345471-26-000035 · all filings on EDGAR.
Positions closed
No positions were fully sold this quarter.
Nelson Peltz
Nelson Peltz co-founded Trian with Peter May and Ed Garden. Trian buys large stakes in underperforming, well-known companies and works with, or presses, boards to improve operations and focus.
Philosophy in brief
- Great brands can underperform because of strategy, not because of the business.
- Operational change and focus unlock value.
- Be patient and constructive, but persistent.
How to read this page
Who else is trading these holdings
- 01GE General Electric8 congressional trades disclosed (5 buys)35.6% of portfolio
- 03SOLV Solventum2 congressional trades disclosed (1 buys)15.0% of portfolio
- 06GEHC GE HealthCare Technologies2 congressional trades disclosed (1 buys)4.7% of portfolio
- 07IVZ Invesco1 congressional trade disclosed (0 buys)1.0% of portfolio
Investors who think alike
Cosine similarity of position weights (100 = identical portfolios). Chips show the biggest shared holdings.
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