Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供参考 · 非买入清单
Trian Fund Management
activist
D
Reliability stable可靠性稳定
leaderboard rank榜单排名 #47FADE淡出
Book持仓规模
$4.2B
long US listed only仅美股多头
Positions持仓数
8
62% resolved已解析
Top-10 concentration前十集中度
100%
% of book占组合%
Turnover换手
LOW
12.1% per quarter每季
Median excess中位超额
-40%
buys vs SPY, since filing买入相对SPY，自披露起 · n 11
Hit rate胜率
18%
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
Core lean: Health Care (Equal-Weight) — added GEHC (+4.7pp of book this quarter)核心倾向：医疗保健（等权） — 本季度加仓 GEHC（占组合 +4.7pp）
Health Care (Equal-Weight)医疗保健（等权）
+4.7pp
19.7% of book held占组合持有
· 2 names标的
· US Sectors (EW)
GEHC
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新披露的描述性解读——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，以公开披露日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: stable稳定 · 4 scored quarters已评分季度 · 0% positive为正 · recent-4 median近4季中位 -22% vs all-time对全期 -22%
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 | -52% | 25% | +5% |
| 2024-06-30 | 2 | -19% | 50% | +3% |
| 2024-09-30 | 2 | -20% | 0% | +3% |
| 2024-12-31 | 2 | -24% | 0% | -3% |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新披露；季度环比变化对上季Current weights当前权重 · 2026-06-30
Unclassified
37.7%
▼ -11.3pp
Industrials
35.6%
▲ +6.0pp
Healthcare
19.7%
▲ +5.8pp
Consumer Cyclical
6.0%
▲ +0.5pp
Financial
1.0%
▼ -0.9pp
Theme categories主题类别
Industrials & Defense 35.6%
US Sectors (EW) 20.7%
Rotating into (QoQ)轮入（环比）
Industrials +6.0pp
Healthcare +5.8pp
Consumer Cyclical +0.5pp
Rotating out of (QoQ)轮出（环比）
Financial -0.9pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-06-30 | Unclassified 38% · Industrials 36% · Healthcare 20% |
| 2026-03-31 | Unclassified 49% · Industrials 30% · Healthcare 14% |
| 2025-12-31 | Unclassified 44% · Industrials 31% · Healthcare 16% |
| 2025-09-30 | Unclassified 40% · Industrials 30% · Healthcare 15% |
| 2025-06-30 | Unclassified 40% · Industrials 27% · Healthcare 17% |
| 2025-03-31 | Unclassified 38% · Industrials 22% · Healthcare 17% |
| 2024-12-31 | Unclassified 43% · Industrials 17% · Healthcare 14% |
| 2024-09-30 | Unclassified 40% · Industrials 20% · Consumer Cyclical 14% |
| 2024-06-30 | Unclassified 38% · Financial 18% · Industrials 16% |
| 2024-03-31 | Communication Services 49% · Unclassified 20% · Financial 12% |
| 2023-12-31 | Communication Services 42% · Unclassified 25% · Financial 14% |
| 2023-09-30 | Communication Services 41% · Unclassified 26% · Financial 14% |
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.截至披露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。5 positions shown项持仓 · resolved已解析 5/8 (62%) · 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自披露 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  GE |
Ge Aerospace | 35.6% | $1.5B | hold | +0% | — | 70 · HIGH | Industrials | Defense & Aerospace, Industrials (Equal-Weight) | -12% |
| 2 |  SOLV |
Solventum Corporation | 15.0% | $635M | hold | +0% | — | 63 · MODERATE | Healthcare | Health Care (Equal-Weight) | +5% |
| 3 |  WEN |
Wendys Co. | 6.0% | $253M | hold | +0% | — | 46 · MODERATE | Consumer Cyclical | — | -11% |
| 4 | GEHC |
Ge Healthcare Technologies Inc. | 4.7% | $197M | add | +76194% | 1q | 44 · LOW | Healthcare | Health Care (Equal-Weight) | -10% |
| 5 |  IVZ |
Invesco Ltd. | 1.0% | $43M | trim | -45% | — | 32 · LOW | Financial | Financials (Equal-Weight) | +6% |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本披露周期，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 (1)
| GEHC add |
4.7% | -10% |
Rotated out of轮出 (1)
| IVZ trim |
-45% | +6% |
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，以披露日为锚，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, reported long positions from managers with at least $100M in Section 13(f) securities. 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——衡量披露日之后持仓的表现，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。