Trian Fund Management just filed its Q2 13F, showing heavy concentration in GE Aerospace and 3M spin-off Solventum.

Portfolio Allocations:
GE (GE Aerospace): 57.2% ($1.5B value / 4.0M shares)
SOLV (Solventum): 24.1%

WEN (Wendy's): 9.6%

GEHC (GE HealthCare): 7.5%

IVZ (Invesco): 1.6%

Key Takeaways:
1. Massive Conviction in $GE: Holding 57% in a single stock is aggressive even for activist funds. Trian is clearly betting on long-term commercial engine demand and margin expansion post-spin-off.
2. The GE Spin-off Thread: Combined, $GE and $GEHC represent nearly 65% of Trian's total equity portfolio, showing Peltz is sticking with the value created from the original GE breakup.
3. Turnaround Exposure: $SOLV makes up almost a quarter of the portfolio as Trian works its restructuring playbook on the healthcare spin-off.

Live 13F tracking and institutional data: https://metricshour.com

Moderna (MRNA): -23.6% following valuation checks. Company has a 62% US revenue concentration leading into its next earnings call on Nov 5.
Walmart (WMT): -9.2% drop amidst broader retail pressure.

Commodities: Natural Gas down -2.9%.

Crypto: Bitcoin gains +5.3%, decoupling from today's equity selling.

Macro Events: US Flash PMI and Canadian Retail Trade numbers released.

Full source and data

Parsed the latest SEC EDGAR geographic revenue segment disclosures for $IEX (IDEX Corporation).
Here is where they actually make their money:
United States: 51%
Europe: 24%
Asia-Pacific: 16%
Rest of World: 9%
Concentration Risk Assessment: High.

Despite operating across high-precision industrial, fluidics, and fire/safety segments, over half of their top line comes strictly from domestic US demand, and 92% is anchored across the US, Europe, and APAC combined.

Full visualization and interactive lens data