Nelson Peltz's Trian Fund Management reported a $4.23 billion portfolio in its Q2 2026 13F filing, which reflects holdings as of June 30, 2026. The activist fund, known for taking large, concentrated positions to influence corporate strategy, showed significant changes in its top holdings. The portfolio's largest positions remained GE Aerospace and Janus Henderson Group, followed by Solventum Corp.
The most significant addition was a substantial increase in its GE HealthCare (GEHC) stake. Trian boosted its holding from just over 4,000 shares to nearly 3.1 million, making GEHC a new top position valued at $197.5 million and accounting for 4.67% of the portfolio. This move expands Peltz's investment across the former General Electric conglomerate, as Trian maintained its large, long-standing position in GE Aerospace.
Conversely, the firm made a high-signal reduction in asset manager Janus Henderson Group, cutting its stake by 19.5%, or over 6.2 million shares. Despite the sale, Janus Henderson remains Trian's second-largest holding at $1.33 billion. Trian also significantly reduced its smaller position in Invesco Ltd. by 45%. Investors are reminded that 13F filings are a snapshot of positions held at the end of the quarter and do not reflect subsequent trading activity.