- Nelson Peltz’s 13F portfolio value increased from $3.88B to $6.57B this quarter. The number of positions increased from 8 to 9.
- Trian Fund Management increased Walt Disney (DIS) and added Allstate (ALL).
- The top three positions are Walt Disney (DIS), Ferguson plc (FERG), and Janus Henderson Group (JHG). They add up to ~67% 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 11/15/2023. 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 Q2 2023.
This quarter, Peltz’s 13F portfolio value increased from
$3.88B to $6.57B. The number of holdings increased from 8 to 9. The top three
holdings are at ~67% of the 13F stock portfolio: Walt Disney (DIS), Ferguson
plc (FERG), and Janus Henderson Group (JHG). 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 last January and Nelson Peltz was
appointed to the board on May 31st.
The spreadsheet below highlights changes to Peltz’s 13F
stock holdings in Q3 2023:
Source: John Vincent. Data constructed from Trian Fund
Management’s 13F filings for Q2 2023 and Q3 2023.
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