13F filer · CIK 1345471 ↗
Trian Partners
You are looking at Q1 2024. See the latest, Q2 2026 →
Reported value
$8.02B
+14% on the quarter before
Positions
9
0 new · 0 sold out
Top 10
100.0%
of the value
Est. gain
+$1.42B
on stocks held all quarter
Est. return
+21.5%
on those stocks since Q4 2023
Positions as of Mar 31, 2024, from Trian Partners's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
Each tile is a position, sized by its share, colored by what the fund did with it since Q4 2023. Striped tiles are options.
Largest buys
Since Q4 2023, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
No buys this quarter.
Largest sells
Since Q4 2023, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Ferguson Plc New~$370.6MCut · 11.5% → 6.8%−1,696,565 shares
- The Allstate Corporation~$96.2MCut · 5.6% → 4.8%−555,829 shares
Holdings
As of Mar 31, 2024. Changes are in shares against Dec 31, 2023, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Walt Disney Company (The)COM · shares 0% · price +35.5% | 49.3% | $3.96B | +$1.04B | ||||||||
| Janus Henderson Group PlcORD SHS · shares 0% · price +9.1% | 13.1% | $1.05B | +$87.3M | ||||||||
| General Electric Co.COM NEW · shares 0% · price +37.5% | 8.8% | $707.4M | +$193.0M | ||||||||
| Wendys Co.COM · shares 0% · price −3.3% | 7.4% | $592.8M | −$20.1M | ||||||||
| Invesco Ltd.SHS · shares 0% · price −7.0% | 7.0% | $563.1M | −$42.4M | ||||||||
| Ferguson Plc NewSHS · shares −40% · price +13.1% | 6.8% | $544.7M | +$63.2M | ||||||||
| The Allstate CorporationCOM · shares −20% · price +23.6% | 4.8% | $387.1M | +$73.9M | ||||||||
| GE HealthCareCOM · shares 0% · price +17.6% | 1.5% | $122.1M | +$18.2M | ||||||||
| Sysco CorporationCOM · shares 0% · price +11.0% | 1.2% | $99.3M | +$9.8M | ||||||||
| Total · 9 positions | 100% | $8.02B | +$1.42B |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q4 2023 to Q1 2024: 9 stocks held throughout, up $1.42B (+21.5%).
- Walt Disney Company (The)+$1.04B+36%
- General Electric Co.+$193.0M+38%
- Janus Henderson Group Plc+$87.3M+9%
- The Allstate Corporation+$73.9M+24%
- Ferguson Plc New+$63.2M+13%
- Wendys Co.−$20.1M−3%
- Invesco Ltd.−$42.4M−7%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 12, 2026 | $4.23B+10% | SEC ↗ |
| Q1 2026 | May 15, 2026 | $3.86B−3% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $3.98B−3% | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | $4.11B+8% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $3.79B+2% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $3.74B−4% | SEC ↗ |
| Q4 2024 | Feb 14, 2025 | $3.88B−0% | SEC ↗ |
| Q3 2024 | Nov 13, 2024 | $3.89B−5% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 | $4.10B−49% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $8.02B+14% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 | $7.01B+7% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $6.57B+69% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 (amended) | $3.88B+3% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $3.75B−23% | SEC ↗ |
| Q4 2022 | Feb 15, 2023 (amended) | $4.87B+28% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $3.80B−17% | SEC ↗ |
| Q2 2022 | Aug 12, 2022 | $4.55B−24% | SEC ↗ |
| Q1 2022 | May 13, 2022 | $5.97B−20% | SEC ↗ |
| Q4 2021 | Feb 11, 2022 | $7.46B−7% | SEC ↗ |
| Q3 2021 | Nov 12, 2021 | $8.04B−6% | SEC ↗ |
| Q2 2021 | Aug 13, 2021 | $8.55B+1% | SEC ↗ |
| Q1 2021 | May 14, 2021 | $8.46B+25% | SEC ↗ |
| Q4 2020 | Feb 12, 2021 | $6.76B+12% | SEC ↗ |
| Q3 2020 | Nov 16, 2020 | $6.05B+9% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 (amended) | $5.53B−20% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $6.94B−27% | SEC ↗ |
| Q4 2019 | Feb 14, 2020 | $9.48B−1% | SEC ↗ |
| Q3 2019 | Nov 14, 2019 | $9.58B+1% | SEC ↗ |
| Q2 2019 | Aug 14, 2019 | $9.48B+1% | SEC ↗ |
| Q1 2019 | May 15, 2019 | $9.34B+1% | SEC ↗ |
| Q4 2018 | Feb 14, 2019 | $9.24B−11% | SEC ↗ |
| Q3 2018 | Nov 14, 2018 | $10.34B+0% | SEC ↗ |
| Q2 2018 | Aug 14, 2018 (amended) | $10.30B+4% | SEC ↗ |
| Q1 2018 | May 15, 2018 | $9.91B−16% | SEC ↗ |
| Q4 2017 | Feb 14, 2018 | $11.82B−9% | SEC ↗ |
| Q3 2017 | Nov 14, 2017 | $12.98B−2% | SEC ↗ |
| Q2 2017 | Aug 11, 2017 | $13.27B−0% | SEC ↗ |
| Q1 2017 | May 12, 2017 | $13.33B+20% | SEC ↗ |
| Q4 2016 | Feb 14, 2017 | $11.09B+8% | SEC ↗ |
| Q3 2016 | Nov 14, 2016 | $10.24B−2% | SEC ↗ |
| Q2 2016 | Aug 12, 2016 | $10.50B+1% | SEC ↗ |
| Q1 2016 | May 13, 2016 | $10.38B | SEC ↗ |