中文
Value GiantsValue investors’ 13F holdings, as a whole
Q2 2026 13FData as of Aug 18, 2026
Activist

Nelson Peltz

Q2 2026 13F: 8 holdings worth about $4.2B; that quarter 0 new, 1 added, 2 trimmed, 0 sold out.

Firm: Trian Fund Management, L.P.
Filer: TRIAN FUND MANAGEMENT, L.P. CIK 1345471
Last filed: Aug 12, 2026 | Activist | Counted in this quarter’s totals

13F lists only long positions in US-listed stocks (and some ETFs and convertibles); short positions, cash, bonds, shares listed outside the US and private companies are not shown, so this is not the giant’s whole portfolio.

Why This Giant Is Included

  • Rule numbers (Q2 2026): 8 holdings, top 10 = 100%, stocks $4.2B, options 0%; all four rules met
  • Source for the value approach: About Us | Trian Partners (Trian Fund Management, L.P.): “invest in high-quality businesses with untapped potential and work closely with leadership teams to drive sustainable long-term shareholder value.” (checked 2026-10-11)

Full selection rules →

13F value
$4.2B
previous $3.9B (+9.6%)
Holdings
8
0 new / 0 sold out
Net deploymentest.
−3.8%
est. net buying ÷ last quarter’s portfolio
Top-10 concentration
100%
overlap with the composite 3%
Turnoverest.
5.1%
held 22 quarters on average
I

Trades in Q2 2026

Sorted by position shift: how many percentage points of the portfolio the trade moved.

How to Read This

Share changes are split-adjusted. Est. trade price = (start + end price) ÷ 2; 13F does not show the actual trade date or price.

MoveCompanyChange in sharesChange %Position shift (pts)Start → end priceEst. trade price
TrimmedJHGJanus Henderson Group PLC−6.21M−19%−7.63$51.37 → $51.98$51.67
AddedGEHCGE HealthCare Technologies Inc+3.08M+76194%+4.66$71.18 → $64.01$67.60
TrimmedIVZInvesco Ltd−1.35M−45%−0.84$24.29 → $26.39$25.34
II

All Holdings (8 Companies)

Share classes of one company are combined; click a heading to re-sort.

How to Read This

Est. average cost: shares bought each quarter × (start + end price) ÷ 2, weighted; trims do not change the cost. Positions held before Q1 1999 (or the giant’s earliest electronic filing) start from that quarter’s price and are marked ‘start point’. vs cost = quarter-end price ÷ est. average cost − 1, excluding dividends.

CompanySectorWeight (prev.)SharesValueThis quarterFirst boughtQuarters heldEst. avg costQuarter-end pricevs costHistory
GEGeneral ElectricIndustrials35.6%29.6%4.03M$1.5BHeldQ3 202120$103.03est.$373.73+263%History
JHGJanus Henderson Group PLCUnclassified31.5%42.4%25.65M$1.3BTrimmed −19%Q2 202025$28.94est.$51.97+80%History
SOLVSolventum CorpHealth care15.0%13.9%8.24M$635.5MHeldQ2 20249$62.29est.$77.15+24%History
—Ferguson Jersey LtdUnclassified6.1%6.6%1.09M$257.8MHeldQ1 202122$125.08est.$237.33+90%
WENWendy’s CoConsumer discretionary6.0%5.5%30.47M$252.6MHeldQ1 201162$11.48est.start point$8.29−28%History
GEHCGE HealthCare Technologies IncHealth care4.7%0.0%3.09M$197.5MAdded +76194%Q1 202314$67.61est.$64.01−5%History
IVZInvesco LtdFinancials1.0%1.9%1.63M$42.9MTrimmed −45%Q2 202025$14.67est.$26.39+80%History
MICCMagnum Ice Cream Co N.VConsumer staples0.1%0.1%241.0K$4.2MHeldQ1 20262$15.40est.$17.41+13%History
III

Portfolio Map: Size Is Weight, Colour Is Gain or Loss against Cost

How to Read This

Each block is a company (up to 60); area = portfolio weight. The darker the colour, the further the quarter-end price is above (or below) the estimated cost: light 5–25%, medium 25–100%, darkest over 100%; grey is within 5%.

above costbelow costwithin 5%
Portfolio MapGEGeneral ElectricJHGJanus Henderson Group PLCSOLVSolventum CorpFerguson Jersey LtdWENWendy’s CoGEHCGE HealthCa…IVZ
IV

Over Time

From Q1 2011, 62 quarters (this giant’s electronic 13F filings).

13F Value

13F Value$0$5.0B$10.0BQ1 2011Q4 2012Q3 2014Q2 2016Q1 2018Q4 2019Q3 2021Q2 2023Q2 2026

Holdings

Holdings051015Q1 2011Q4 2012Q3 2014Q2 2016Q1 2018Q4 2019Q3 2021Q2 2023Q2 2026

Top-10 Concentration

Top-10 Concentration0%25%50%75%100%Q1 2011Q4 2012Q3 2014Q2 2016Q1 2018Q4 2019Q3 2021Q2 2023Q2 2026

Turnover (Est.)

Turnover0%5%10%15%Q1 2011Q4 2012Q3 2014Q2 2016Q1 2018Q4 2019Q3 2021Q2 2023Q2 2026

Sector Mix

Information technologyFinancialsCommunication & mediaConsumer discretionaryIndustrialsHealth careEnergyOther (incl. unclassified)
Sector Mix0%25%50%75%100%Q1 2011Q4 2012Q3 2014Q2 2016Q1 2018Q4 2019Q3 2021Q2 2023Q2 2026
V

Quarter by Quarter, with the Original Filings

* = not counted in that quarter’s totals. Links open the original SEC filing; 13F-HR/A is an amendment.

Show 62 Quarters
QuarterHoldingsNewSold out13F valueTurnoverNet deploymentSEC
Q2 2026800$4.2B5.1%−3.8%13F-HR
Q1 2026810$3.9B0.0%+0.1%13F-HR
Q4 2025700$4.0B0.0%−7.4%13F-HR
Q3 2025703$4.1B0.0%−1.6%13F-HR
Q2 20251000$3.8B0.4%−6.0%13F-HR
Q1 20251000$3.7B0.1%−0.9%13F-HR
Q4 20241000$3.9B1.7%+1.2%13F-HR
Q3 20241002$3.9B3.0%−17.7%13F-HR
Q2 20241241$4.1B7.0%−40.1%13F-HR
Q1 2024900$8.0B0.0%−6.2%13F-HR
Q4 2023900$7.0B0.0%−6.2%13F-HR
Q3 2023921$6.6B0.3%+77.1%13F-HR
Q2 2023800$3.9B1.3%−0.7%13F-HR 13F-HR/A
Q1 2023811$3.8B2.6%−27.4%13F-HR
Q4 2022811$4.9B12.2%+7.6%13F-HR 13F-HR/A 13F-HR/A
Q3 2022800$3.8B0.0%−6.5%13F-HR
Q2 2022800$4.5B4.0%−0.7%13F-HR
Q1 2022801$6.0B5.0%−10.5%13F-HR
Q4 2021900$7.5B5.1%−13.6%13F-HR
Q3 2021911$8.0B6.2%−6.0%13F-HR
Q2 2021900$8.6B2.6%−5.5%13F-HR
Q1 2021910$8.5B3.9%+19.0%13F-HR
Q4 2020801$6.8B3.3%−4.1%13F-HR
Q3 2020901$6.1B12.3%−0.6%13F-HR
Q2 20201031$5.5B10.9%−30.0%13F-HR 13F-HR/A 13F-HR/A
Q1 2020800$6.9B0.0%−4.1%13F-HR
Q4 2019800$9.5B0.0%−5.8%13F-HR
Q3 2019801$9.6B0.0%−5.9%13F-HR
Q2 2019910$9.5B1.7%−2.6%13F-HR
Q1 2019801$9.3B0.0%−12.0%13F-HR
Q4 2018900$9.2B3.1%−4.6%13F-HR
Q3 2018900$10.3B1.6%−2.5%13F-HR
Q2 2018920$10.3B2.8%+4.4%13F-HR 13F-HR/A
Q1 2018700$9.9B0.4%−8.9%13F-HR
Q4 2017701$11.8B0.1%−9.4%13F-HR
Q3 2017811$13.0B7.0%−2.7%13F-HR
Q2 2017800$13.3B1.2%+0.3%13F-HR
Q1 2017800$13.3B3.4%+20.4%13F-HR
Q4 2016810$11.1B4.8%+0.9%13F-HR
Q3 2016700$10.2B0.0%−1.7%13F-HR
Q2 2016702$10.5B0.6%−3.6%13F-HR
Q1 2016901$10.4B1.0%−15.0%13F-HR
Q4 20151002$12.3B0.9%−6.4%13F-HR
Q3 20151211$11.7B3.6%+22.3%13F-HR
Q2 20151231$10.4B4.3%+19.8%13F-HR 13F-HR/A
Q1 20151001$8.6B2.0%−10.8%13F-HR
Q4 20141100$9.4B0.0%+18.7%13F-HR
Q3 20141100$7.6B1.2%+12.4%13F-HR
Q2 20141101$6.8B1.3%+5.2%13F-HR
Q1 20141210$6.1B3.6%+2.5%13F-HR 13F-HR/A
Q4 20131110$5.9B1.4%+2.2%13F-HR
Q3 20131002$5.5B0.0%−4.9%13F-HR
Q2 20131231$5.1B1.5%+8.6%13F-HR
Q1 20131001$4.7B4.1%+32.7%13F-HR
Q4 20121131$3.1B18.0%+12.4%13F-HR 13F-HR/A
Q3 2012 *900$2.8B0.0%−9.2%13F-HR
Q2 2012 *902$3.1B9.9%−1.1%13F-HR 13F-HR/A
Q1 2012 *1130$3.2B6.4%+9.4%13F-HR 13F-HR/A
Q4 2011 *807$2.7B5.7%−7.4%13F-HR
Q3 2011 *1526$2.6B6.2%+10.6%13F-HR
Q2 2011 *1972$2.7B0.6%+27.3%13F-HR
Q1 2011 *1400$2.0B——13F-HR 13F-HR/A
VI

Large Positions Sold Out

Positions that once made up 2% or more of the portfolio and were later sold out (latest 40): holding period and what became of the company, without profit or loss.

How to Read This

Sold out means the holding no longer appears on the 13F: it may have been sold, or the company was acquired or delisted. Company status is checked only for companies the giants together once held $100M or more of, from the company’s own SEC filings (for example 8-K item 1.03 = bankruptcy filing); a dash means not checked.

CompanyHeldPeak weightCompany since
ALLAllstate CorpQ3 2023 – Q3 20258%—
DISWalt Disney CoQ4 2022 – Q3 202449%—
MDLZMondelez International, IncQ4 2012 – Q3 202326%—
SYYSysco CorpQ2 2015 – Q1 202328%—
PGProcter & Gamble CoQ4 2016 – Q4 202249%—
CMCSAComcast CorpQ2 2020 – Q1 202215%—
—General Electric CoQ2 2015 – Q3 202123%Still filing with the SEC
NVTnVent Electric plcQ2 2018 – Q4 20205%Still filing with the SEC
BNYBank of New York Mellon CorpQ1 2014 – Q3 202015%—
LMLegg Mason IncQ2 2019 – Q2 20203%Acquired or delisted Aug 21, 2020
PPGPPG Industries IncQ2 2018 – Q3 20198%Still filing with the SEC
PNRPentair PLCQ2 2015 – Q1 201911%Still filing with the SEC
—Dupont de Nemours, IncQ3 2017 – Q4 20177%Still filing with the SEC
—Eidp IncQ2 2013 – Q3 201721%Still filing with the SEC
LMLegg Mason IncQ1 2011 – Q2 201620%Acquired or delisted Aug 21, 2020
—Tiffany & CoQ1 2011 – Q2 201615%Acquired or delisted Jan 19, 2021
PEPPepsiCo IncQ4 2012 – Q1 201622%—
IRIngersoll Rand IncQ1 2012 – Q4 201521%—
FDOFamily Dollar Stores LLCQ1 2011 – Q3 201521%Acquired or delisted Jul 20, 2015
ALLEAllegion plcQ4 2013 – Q2 20153%Still filing with the SEC
LAZLazard, IncQ1 2012 – Q1 20156%—
STTState Street CorpQ1 2011 – Q3 201314%—
HNZKraft Heinz Foods CoQ1 2011 – Q2 20135%Acquired or delisted Aug 12, 2013
—Mondelez International, IncQ1 2011 – Q4 201222%Still filing with the SEC