13F filing recap · Q4 2024

What did Trian Fund Management buy in Q4 2024?

Reported stock-position changes between this filing and the previous one.

Stock value

$3.88B

Positions

Estimated turnover

4.4%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Quarter in review

Trian Fund Management added to Solventum Corporation and modestly increased its Wendy's stake. It trimmed Ferguson Enterprises and U-Haul Holding Company, while substantially reducing Allstate Corp. The firm also substantially added to a separate U-Haul position.

Increased positions

SOLVSolventum Corporation$559.05Mreported value+1.34M shares+18.8%WENWendy'S Co$497.56Mreported value+12.4K shares+0.0%UHAL.BU-Haul Holding Company$72.04Mreported value+75.6K shares+7.2%UHALU-Haul Holding Company$45.05Mreported value+202.4K shares+45.0%

Reduced positions

FERGFerguson Enterprises Inc.$214.75Mreported value-33.5K shares-2.6%ALLAllstate Corp$59.13Mreported value-306.7K shares-50.0%