TRIAN FUND MANAGEMENT, L.P.

NEW YORK, NY · CIK 1345471 · 13F filing filed 2026-08-12

SEC-registered investment adviser since 2010 · limited partnership

Assets managed$10.4bn
Staff34 · 14 in investment roles
Main clients (by assets)Private funds 96%, High net worth individuals 4%
Private funds22 (16 hedge) · $11.2bn gross assets
Form ADV · 2026-07-31SEC adviser record

Legal entityTRIAN FUND MANAGEMENT, L.P. (US)

$4.2bn reported value +9.6% vs Q1 2026

8positions

100.0%in top 10

0 new 2 added 2 reduced 0 sold out vs Q1 2026

This report includes the holdings of 3 other managers that share the investment decisions:

MAY PETER W – reports through this filing
PELTZ NELSON – reports through this filing
Trian Fund Management GP, LLC – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	GE AEROSPACE COM NEW GE	GE	4,030,765	$1.5bn35.61%	35.61%	Unchanged
2	JANUS HENDERSON GROUP PLC ORD SHS ORD SHS		25,654,382	$1.3bn31.53%	31.53%	Reduced -6.2m	-6,213,418 -19.5%
3	SOLVENTUM CORP COM SHS SOLV	SOLV	8,236,753	$635.5m15.02%	15.02%	Unchanged
4	FERGUSON PLC NEW SHS FERG1GBX	FERG1GBX	1,086,357	$257.8m6.09%	6.09%	Unchanged
5	WENDYS CO COM WEN	WEN	30,468,434	$252.6m5.97%	5.97%	Added +22.4k	+22,412 0.1%
6	GE HEALTHCARE TECHNOLOGIES I COMMON STOCK GEHC	GEHC	3,085,344	$197.5m4.67%	4.67%	Added +3.1m	+3,081,300 76194.4%
7	INVESCO LTD SHS IVZ	IVZ	1,625,472	$42.9m1.01%	1.01%	Reduced -1.3m	-1,345,472 -45.3%
8	MAGNUM ICE CREAM CO NV ORD SHS MICC	MICC	241,042	$4.2m0.10%	0.10%	Unchanged

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
WENDYS CO WEN · 13D · filed 2026-10-28	WEN	16.2%≈ $256.5m	no change	13D	2026-10-28
JANUS HENDERSON GROUP PLC 13D · filed 2026-06-30		13.0%	-3.6 pts	13D	2026-06-30