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| Trian Fund Management's 3% Year-to-Date Returns Amid Disney Bet Struggles |
In 2023, Nelson Peltz's Trian Fund Management has secured year-to-date returns of nearly 3%, despite facing challenges due to its bet on Walt Disney Co. Disney's stock price has experienced a 30% drop since February, when Peltz ended a board seat battle but maintained Trian's investment in the company.
As of the end of June, Peltz significantly increased Trian's ownership in Disney, holding a nearly 2% stake valued at $2.5 billion. He is now seeking multiple seats, including one for himself, on Disney's 11-member board. Apart from Disney, Trian's major investments at the end of June included Janus Henderson Group Plc, Ferguson Plc, and Wendy's Co.
Trian Fund Management has historically delivered robust returns, averaging 12% annually. However, it currently lags behind some other blue-chip activist investors, such as Bill Ackman's Pershing Square Capital Management and Jeff Smith's Starboard Value, which have posted better numbers. Pershing Square reported an 11.7% increase through the end of September, while Starboard showed nearly 10% gains through the middle of September. On average, activist investors gained approximately 7% through the end of September.
At the end of June, the average activist investor reported a 11.5% increase, with Trian achieving roughly 6%, according to HFR data and investor reports.
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