- Nelson Peltz’s 13F portfolio value decreased from $3.89B to $3.88B this quarter. The number of positions remained steady at 10.
- Trian Fund Management increased Solventum (SOLV) and U-Haul (UHAL) while decreasing Allstate (ALL) during the quarter.
- The top three positions are Janus Henderson Group (JHG), GE Aerospace (GE), and Wendys (WEN). They add up to ~66% of the portfolio.
This article is part of a series that provides an ongoing
analysis of the changes made to Nelson Peltz’s 13F portfolio on a quarterly
basis. It is based on Peltz’s regulatory 13F Form filed on 2/14/2025. Please
visit our Tracking
Nelson Peltz’s Trian Fund Management Portfolio article for an idea on his
investment philosophy and our last
update for the fund’s moves during Q4 2024.
This quarter, Peltz’s 13F portfolio value decreased from
~$3.89B to ~$3.88B. The number of holdings remained steady at 10. The top three
holdings are at ~66% of the 13F stock portfolio: Janus Henderson Group (JHG),
GE Aerospace (GE), and Wendys (WEN). To know more about activist investing,
check out Deep Value: Why Activist Investors and Other Contrarians Battle
for Control of Losing Corporations.
Note: Trian Fund
has a 1.5% ownership stake in London listed Unilever PLC (UL). The activist position was acquired in January 2022 and Nelson Peltz was
appointed to the board.
The spreadsheet below highlights changes to Peltz’s 13F
stock holdings in Q4 2024:
Source: John Vincent. Data constructed from Trian Fund
Management’s 13F filings for Q3 2024 and Q4 2024.
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