TRIAN FUND MANAGEMENT, L.P. Long-Term Concentrated

CIK: 0001345471 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $3,984,030 (100.0% shares, 0.0% debt)

Holdings (7)

Decreased Positions (2)

IVZ Invesco Ltd. 2.0%

Value ($000) $78,047 (-76.7%) Shares 2,970,944 (-79.7%) Est. Cost $11.52 Unrealized +111.0%

SOLV Solventum Corporation 16.4%

Value ($000) $652,680 (+5.6%) Shares 8,236,753 (-2.7%) Est. Cost $62.06 Unrealized +23.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IVZ	Invesco Ltd.	2,970,944 (-79.7%)	$78,047 (-76.7%)	2.0%	$11.52	+111.0%	SHS	G491BT108
SOLV	Solventum Corporation	8,236,753 (-2.7%)	$652,680 (+5.6%)	16.4%	$62.06	+23.4%	COM SHS	83444M101

Unchanged Positions (5)

JHG Janus Henderson Group plc 38.1%

Value ($000) $1,515,951 Shares 31,867,800 Est. Cost $43.24 Unrealized +2.3%

GE GE Aerospace 31.2%

Value ($000) $1,241,597 Shares 4,030,765 Est. Cost $62.95 Unrealized +377.8%

WEN Wendys Co. 6.4%

Value ($000) $253,568 Shares 30,440,318 Est. Cost $11.83 Unrealized -27.1%

FERG1GBX Ferguson Plc New 6.1%

Value ($000) $241,856 Shares 1,086,357 Est. Cost $125.69 Unrealized —

GEHC GE HealthCare Technologies Inc. 0.0%

Value ($000) $332 Shares 4,044 Est. Cost $71.08 Unrealized +9.6%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
JHG	Janus Henderson Group plc	31,867,800	$1,515,951	38.1%	$43.24	+2.3%	ORD SHS	G4474Y214
GE	GE Aerospace	4,030,765	$1,241,597	31.2%	$62.95	+377.8%	COM NEW	369604301
WEN	Wendys Co.	30,440,318	$253,568	6.4%	$11.83	-27.1%	COM	95058W100
FERG1GBX	Ferguson Plc New	1,086,357	$241,856	6.1%	$125.69	—	SHS	G3421J106
GEHC	GE HealthCare Technologies Inc.	4,044	$332	0.0%	$71.08	+9.6%	COM	36266G107