Nelson Peltz - Trian Fund Management 13F Activity & Position Changes (Q2 2025)

According to the SEC 13F filed on Aug 14, 2025, the Trian Fund Management portfolio showed several notable changes in holdings as of quarter-end Jun 30, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2025, the filing reported:

New Buys - None reported

Increases - Ferguson, Wendy's Company (The)

Reductions - Allstate, Invesco, U-Haul Holding Company, U-Haul Holding Company Series N

Complete Exits - None reported

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q2 2025	ALL Allstate	Allstate	Sell	-217,695	-68.5%	$20.12M	99,955
Q2 2025	FERG Ferguson	Ferguson	Buy	+77,592	+7.7%	$236.55M	1,086,357
Q2 2025	IVZ Invesco	Invesco	Sell	-8,544,987	-36.9%	$230.69M	14,628,455
Q2 2025	UHAL U-Haul Holding Company	U-Haul Holding Company	Sell	-298,665	-45.8%	$21.40M	353,335
Q2 2025	UHAL-B U-Haul Holding Company Series N	U-Haul Holding Company Series N	Sell	-786,669	-69.9%	$18.38M	338,031
Q2 2025	WEN Wendy's Company (The)	Wendy's Company (The)	Buy	+11,111	+0.0%	$347.57M	30,434,794