TRIAN FUND MANAGEMENT, L.P. 13F: Quarter-over-Quarter Portfolio Changes
TRIAN FUND MANAGEMENT, L.P. reported a disclosed portfolio value of approximately $4.2 billion in its latest SEC Form 13F-HR filing for Q2 2026, up 9.6% quarter on quarter. Over the quarter, the fund initiated 1 new position, bought more shares in 2 holdings, trimmed 2 holdings, and exited 1 position.
TRIAN FUND MANAGEMENT, L.P.'s top buy was a new stake in Ferguson PLC New (SYN_G3421J106) , equal to 6.1% of the disclosed portfolio. Its top sell was Ferguson PLC New (FERG1GBX) . The fund exited the position completely after it had accounted for 6.6% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| FERGUSON PLC NEW | SYN_G3421J106 | 6.1% | Holders → |
Top BuysQ2 2026
The fund's top buys among existing positions in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| GE HEALTHCARE TECHNOLOGIES I | GEHC | +4.7% | +76194.4% | History → |
| WENDYS CO | WEN | +0.5% | +0.1% | History → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| INVESCO LTD. | IVZ | -0.9% | 45.3% | History → |
| JANUS HENDERSON GROUP PLC | JHG | -10.9% | 19.5% | History → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| FERGUSON PLC NEW | FERG1GBX | 6.6% |
Net Portfolio Value ChangeQ2 2026
- $3.9BPrior quarter
- $4.2BCurrent quarter
- +$0.4BNet delta
- +9.6%% change
Methodology & FAQ
How TRIAN FUND MANAGEMENT, L.P. Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for TRIAN FUND MANAGEMENT, L.P.: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did TRIAN FUND MANAGEMENT, L.P. buy in Q2 2026?
In Q2 2026, TRIAN FUND MANAGEMENT, L.P. initiated 1 new position (FERGUSON PLC NEW (SYN_G3421J106)); bought more shares of GE HEALTHCARE TECHNOLOGIES I (GEHC), WENDYS CO (WEN).
What stocks did TRIAN FUND MANAGEMENT, L.P. sell in Q2 2026?
In Q2 2026, TRIAN FUND MANAGEMENT, L.P. fully sold 1 position (FERGUSON PLC NEW (FERG1GBX)); reduced holdings in INVESCO LTD. (IVZ), JANUS HENDERSON GROUP PLC (JHG).
Which positions did TRIAN FUND MANAGEMENT, L.P. initiate in Q2 2026?
TRIAN FUND MANAGEMENT, L.P. established 1 new position in Q2 2026: FERGUSON PLC NEW (SYN_G3421J106, 6.1%).
Which existing positions saw the largest allocation increases for TRIAN FUND MANAGEMENT, L.P. in Q2 2026?
Of 2 existing positions with share-count increases in Q2 2026, the largest were: GE HEALTHCARE TECHNOLOGIES I (GEHC, +4.7% weight, +76194.4% shares), WENDYS CO (WEN, +0.5% weight, +0.1% shares).
Which positions did TRIAN FUND MANAGEMENT, L.P. fully exit in Q2 2026?
TRIAN FUND MANAGEMENT, L.P. fully exited 1 position in Q2 2026: FERGUSON PLC NEW (FERG1GBX, last-reported weight 6.6%).
Which existing positions saw the largest allocation reductions for TRIAN FUND MANAGEMENT, L.P. in Q2 2026?
Of 2 existing positions with share-count reductions in Q2 2026, the largest were: INVESCO LTD. (IVZ, -0.9% weight, -45.3% shares), JANUS HENDERSON GROUP PLC (JHG, -10.9% weight, -19.5% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.