Nelson Peltz Trian Fund Management
Nelson Peltz is a founding partner of Trian Fund Management and one of the best-known activist investors of the past two decades. Trian typically takes large stakes in established companies and pushes for operational improvement, portfolio focus, and capital-return discipline. Peltz’s campaigns at major consumer, industrial, and financial companies keep Trian firmly in the public spotlight.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Comcast
CMCSA
|
+$273M |
| 2 |
Invesco
IVZ
|
+$198M |
| 3 |
JHG
Janus Henderson
JHG
|
+$172M |
| 4 |
Sysco
SYY
|
+$37M |
| 5 |
Mondelez International
MDLZ
|
+$184K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Procter & Gamble
PG
|
+$2.36B |
| 2 |
BNY
Bank of New York Mellon
BNY
|
+$195M |
| 3 |
LM
Legg Mason, Inc.
LM
|
+$190M |
| 4 |
GE Aerospace
GE
|
+$33.2M |
| 5 |
nVent Electric
NVT
|
+$21.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 62.17% |
| 2 | Industrials | 11.53% |
| 3 | Financials | 10.77% |
| 4 | Consumer Discretionary | 10.49% |
| 5 | Communication Services | 5.05% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Sysco
SYY
$40.2B
| $1.33B | 24.1% |
24,379,843
+703,700
| +3% | +$37M |
|
|
2
Procter & Gamble
PG
$336B
| $1.29B | 23.41% |
10,825,852
-20,208,933
| -65% | -$2.36B |
|
|
3
Mondelez International
MDLZ
$82.3B
| $810M | 14.66% |
15,848,921
+3,581
| +0% | +$184K |
|
4
Wendy's
WEN
$1.72B
| $580M | 10.49% |
26,630,629
| – | – |
|
|
5
GE Aerospace
GE
$361B
| $405M | 7.33% |
11,904,237
-984,015
| -8% | -$33.2M |
|
|
6
Comcast
CMCSA
$95.3B
| $279M | 5.05% |
+7,159,000
| New | +$273M |
|
|
7
Invesco
IVZ
$14.1B
| $237M | 4.29% |
+22,026,991
| New | +$198M |
|
|
8
nVent Electric
NVT
$24.6B
| $232M | 4.2% |
12,391,442
-1,164,379
| -9% | -$21.2M |
|
|
JHG
9
DELISTED
Janus Henderson
JHG
| $189M | 3.42% |
+8,932,350
| New | +$172M |
|
|
BNY
10
Bank of New York Mellon
BNY
$108B
| $169M | 3.06% |
4,383,286
-5,317,802
| -55% | -$195M |
|
|
LM
11
DELISTED
Legg Mason, Inc.
LM
| – | – |
-3,881,704
| Closed | -$190M |
|
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Nelson Peltz's Q2 2020 Portfolio in Review
As of Q2 2020, Nelson Peltz held 11 positions worth $5.53B, down 20% from $6.94B the previous quarter. Its ten largest holdings account for 100% of the portfolio.
Nelson Peltz withdrew a net $2.12B in Q2 2020, closing 1 position and reducing 4 holdings. Its most notable exit was Legg Mason, Inc., an estimated $190M position sold in full.
By sector, the portfolio is most concentrated in Consumer Staples at 62% of assets, down from 76% a quarter earlier, followed by Industrials and Financials.
Against the trend, Nelson Peltz opened a new position in Comcast worth $279M.
- Nelson Peltz's largest Q2 2020 buy was Comcast: 7,159,000 shares worth $279M.
- Nelson Peltz added most to Sysco in Q2 2020, an estimated $37M increase.
- Nelson Peltz's biggest Q2 2020 reduction was Procter & Gamble, cutting an estimated $2.36B.
- Nelson Peltz fully exited Legg Mason, Inc. in Q2 2020, selling an estimated $190M.
- Nelson Peltz's ten largest holdings make up 100% of its $5.53B portfolio in Q2 2020.
- Nelson Peltz opened 3 new positions and closed 1 in Q2 2020.
- Nelson Peltz's portfolio value fell 20% quarter-over-quarter to $5.53B.
Based on Trian Fund Management's 13F filing for Q2 2020, filed 14 Aug 2020.