Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供背景参考 · 非买入清单
Trian Fund Management
activist
D
Reliability stable可靠性稳定
leaderboard rank榜单排名 #45
Book持仓规模
$3.9B
long US listed only仅美股多头
Positions持仓数
8
75% resolved已解析
Top-10 concentration前十集中度
100%
% of book占组合%
Turnover换手
LOW
12.0% per quarter每季
Median excess中位超额
-32%
buys vs SPY, since filing买入相对SPY，自申报起 · n 7
Hit rate胜率
0%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
No thematic add cluster this quarter — the latest buys do not map to a tracked theme.本季度无主题性加仓集群——最新买入未映射到任何跟踪主题。
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新申报的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开申报日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: stable稳定 · 1 scored quarters已评分季度 · 0% positive为正 · recent-4 median近4季中位 -42% vs all-time对全期 -42%
Median excess by quarter各季度中位超额: ▄ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-09-30 | 4 | -42% | 0% | +1% |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新申报；季度环比变化对上季Current weights当前权重 · 2026-03-31
Financials
42.4%
▲ +4.4pp
Industrials
29.6%
▼ -1.5pp
Healthcare
13.9%
▼ -2.5pp
Unclassified
6.7%
▲ +0.6pp
Consumer Discretionary
5.5%
▼ -0.9pp
Financial
1.9%
▼ -0.1pp
Theme categories主题类别
Industrials & Defense 29.6%
US Sectors (EW) 15.8%
Rotating into (QoQ)轮入（环比）
Financials +4.4pp
Rotating out of (QoQ)轮出（环比）
Healthcare -2.5pp
Industrials -1.5pp
Consumer Discretionary -0.9pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-03-31 | Financials 42% · Industrials 30% · Healthcare 14% |
| 2025-12-31 | Financials 38% · Industrials 31% · Healthcare 16% |
| 2025-09-30 | Financials 35% · Industrials 30% · Healthcare 15% |
| 2025-06-30 | Financials 33% · Industrials 27% · Healthcare 17% |
| 2025-03-31 | Financials 31% · Industrials 22% · Healthcare 17% |
| 2024-12-31 | Financials 35% · Industrials 17% · Healthcare 14% |
| 2024-09-30 | Financials 31% · Industrials 20% · Consumer Discretionary 14% |
| 2024-06-30 | Financials 26% · Financial 18% · Industrials 16% |
| 2024-03-31 | Communication Services 49% · Financials 13% · Financial 12% |
| 2023-12-31 | Communication Services 42% · Financial 14% · Financials 14% |
| 2023-09-30 | Communication Services 41% · Financial 14% · Unclassified 14% |
| 2023-06-30 | Financials 22% · Unclassified 22% · Communication Services 15% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至申报日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。6 positions shown项持仓 · resolved已解析 6/8 (75%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自申报 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  JHG |
Janus Henderson Group Plc | 42.4% | $1.6B | hold | +0% | — | 70 · HIGH | Financials | — | -0% |
| 2 |  GE |
Ge Aerospace | 29.6% | $1.1B | hold | +0% | — | 64 · MODERATE | Industrials | Defense & Aerospace, Industrials (Equal-Weight) | +21% |
| 3 |  SOLV |
Solventum Corporation | 13.9% | $538M | hold | +0% | — | 48 · MODERATE | Healthcare | Health Care (Equal-Weight) | +3% |
| 4 |  WEN |
Wendys Co. | 5.5% | $212M | hold | +0% | — | 42 · LOW | Consumer Discretionary | — | -8% |
| 5 |  IVZ |
Invesco Ltd. | 1.9% | $72M | hold | +0% | — | 37 · LOW | Financial | Financials (Equal-Weight) | +10% |
| 6 |  GEHC |
Ge Healthcare Technologies Inc. | 0.0% | $287852 | hold | +0% | — | 31 · LOW | Healthcare | Health Care (Equal-Weight) | +2% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本申报周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (0)
| no new buys this cycle本周期无新买入 |
Rotated out of轮出 (0)
| no sells this cycle本周期无卖出 |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以申报日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, long-only US listed ≥$100M. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量申报日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。