Nelson Peltz - Trian Fund Management 13F Activity & Position Changes (Q3 2025)

As of Sep 30, 2025, the Trian Fund Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 14, 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 Q3 2025, the filing reported:

New Buys - None reported

Increases - Wendy's Company (The)

Reductions - None reported

Complete Exits - Allstate, U-Haul Holding Company, U-Haul Holding Company Series N

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
Q3 2025	ALL Allstate	Allstate	Sell - Position Exit	-99,955	-100.0%	$0.00	-
Q3 2025	UHAL U-Haul Holding Company	U-Haul Holding Company	Sell - Position Exit	-353,335	-100.0%	$0.00	-
Q3 2025	UHAL-B U-Haul Holding Company Series N	U-Haul Holding Company Series N	Sell - Position Exit	-338,031	-100.0%	$0.00	-
Q3 2025	WEN Wendy's Company (The)	Wendy's Company (The)	Buy	+2,229	+0.0%	$278.80M	30,437,023