SYY - Nelson Peltz's Trian Fund ups Disney stake in Q3 takes in Allstate exits Mondel?z

2023-11-14 18:49:24 ET

Billionaire investor Nelson Peltz's Trian Fund Management raised its stake in movie and theme park giant Walt Disney ( NYSE: DIS ) in Q3 2023, while taking new positions in food distributor Sysco ( SYY ) and insurer Allstate ( ALL ).

The fund also disposed off its stake of 16.5K class A shares in Oreo-maker Mondel?z International ( NASDAQ: MDLZ ) in Q3.

Trian Fund disclosed the information in its latest 13F filing for the three months ended September 30, 2023, published on Tuesday.

As per the filing, Trian upped its stake in Disney ( DIS ) by 13.7% to 7.30M shares in Q3 from 6.43M in Q2 2023. CNBC earlier this month reported that Trian's Peltz was looking out for Disney's ( DIS ) latest quarterly results before deciding his next move, after having given up a proxy fight against the company in February. The Bob Iger-led legacy firm eventually reported strong FQ4 2023 earnings and an additional $2B in cost cuts.

Trian Fund also picked up a stake of 1.22M shares in Sysco ( SYY ) and 3.64M shares in Allstate ( ALL ).

Among other moves, the fund cut its stake in fast food restaurant chain Wendy's ( WEN ) by 14% to 17.83M shares in Q3 from 20.73M shares in Q2.

Nelson Peltz is well-known as an activist investor, having won a board seat at Tide and Gillette owner Procter & Gamble ( PG ) back in 2018 after a months-long proxy fight. According to Forbes, Peltz's real time net worth is $1.5B.

More on 13F filings

• Michael Burry closes out broad market shorts, bets against semis
• Starboard Value takes new stake in Bloomin' Brands; exits Splunk, LivePerson
• David Tepper's Appaloosa exits Apple, Marvell, Broadcom in Q3
• Ray Dalio's Bridgewater boosts stakes in 3M, Best Buy, exits Apple, Shopify
• Druckenmiller's Duquesne takes new stakes in Alibaba, Alphabet; exits Meta

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