Analyzing the Latest 13F Filing and Key Investment Adjustments

Nelson Peltz (Trades, Portfolio) recently submitted the 13F filing for the fourth quarter of 2024, providing insights into his investment moves during this period. Nelson Peltz (Trades, Portfolio) has been CEO and a Founding Partner of Trian since November 2005. Mr. Peltz serves as the non-executive Chairman of The Wendy’s Company. Peltz is also a director of The Procter & Gamble Company, Invesco Ltd. and Madison Square Garden Sports Corp. (f/k/a The Madison Square Garden Company). Trian invests in a concentrated portfolio of undervalued and underperforming public companies, typically within the Consumer, Industrial and Financial Services sectors, where it aims to enhance long-term shareholder value through operational and strategic initiatives. Trian aims to bring an ownership mentality to public market investing through the following pillars:Asymmetric Risk/Reward: Trian's focus on high-quality, mid-to-large cap companies with time-tested business models offers a favorable risk/reward dynamic and less competition among peers given barriers to entry. Long-Term, Operational Focus: Trian's private equity-like, operations-centric investment process is designed to generate income statement initiatives focused on driving earnings growth over the long term. Collaborative Engagement: Trian's approach as a highly engaged shareowner with significant reputational capital allows Trian to build trust with management teams, boards and other stakeholders. ESG: Trian promotes and supports, particularly through board representation, the implementation of ESG initiatives that it believes will lead to improved company culture and drive long-term financial performance.

Key Position Increases

Nelson Peltz (Trades, Portfolio) also increased stakes in a total of 4 stocks, among them:

• The most notable increase was Solventum Corp (SOLV, Financial), with an additional 1,336,564 shares, bringing the total to 8,462,819 shares. This adjustment represents a significant 18.76% increase in share count, a 2.28% impact on the current portfolio, and a total value of $559,053,820.
• The second largest increase was U-Haul Holding Co (UHAL, Financial), with an additional 202,405 shares, bringing the total to 652,000. This adjustment represents a significant 45.02% increase in share count, with a total value of $45,046,680.

Key Position Reductions

Nelson Peltz (Trades, Portfolio) also reduced positions in 2 stocks. The most significant changes include:

• Reduced Allstate Corp (ALL, Financial) by 306,725 shares, resulting in a -50% decrease in shares and a -1.5% impact on the portfolio. The stock traded at an average price of $194.18 during the quarter and has returned -3.68% over the past 3 months and -2.62% year-to-date.
• Reduced Ferguson Enterprises Inc (FERG, Financial) by 33,536 shares, resulting in a -2.64% reduction in shares and a -0.17% impact on the portfolio. The stock traded at an average price of $198.58 during the quarter and has returned -8.97% over the past 3 months and 6.08% year-to-date.

Portfolio Overview

At the fourth quarter of 2024, Nelson Peltz (Trades, Portfolio)'s portfolio included 10 stocks, with top holdings comprising 34.93% in Janus Henderson Group PLC (JHG, Financial), 17.32% in GE Aerospace (GE, Financial), 14.41% in Solventum Corp (SOLV, Financial), 12.82% in The Wendy’s Co (WEN, Financial), and 10.44% in Invesco Ltd (IVZ, Financial).

The holdings are mainly concentrated in 4 of the 11 industries: Financial Services, Industrials, Healthcare, and Consumer Cyclical.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.