A high profile activist investor has cashed out more than half of his bet on one publicly traded mutual fund firm over the last two years. Yet his bet on another big asset manager hasn't changed over that same time period.

Nelson Peltz Trian Fund Management Founding Partner, CEO

Last quarter, Nelson Peltz's Trian Fund Management, L.P. decreased its stake in Atlanta-based Invesco Ltd. (IVZ) [profile] yet again, according to Trian's form 13-F for the third quarter of 2024, which was filed yesterday (November 13) with the SEC. (Seeking Alpha highlighted the change.) Also last quarter, Trian held steady on its backing of London-based Janus Henderson Group plc (JHG) [profile].

More specifically, as of September 30, 2024, the Trian team had reduced their Invesco stake to about 23 million shares (23,173,442, to be precise), which represents a 5.2-percent stake (given that IVZ has 449.44 million shares outstanding). That's a 14.9 percent (4.05-million-share) drop from the end of Q2 2024, and a 58.4-percent (32.59-million-share) drop from Q2 2022, when Trian held a 12.3 percent stake in the Atlanta-based fund firm. IVZ stood at $17.65 per share at market close yesterday, up by $0.09 (0.5 percent) from the end of Q3 2024, up by $2.87 (19.4 percent) since the end of Q2 2024, and up by $3.19 (22.1 percent) from the end of Q2 2022.

Meanwhile, at the end of Q3 2024, Trian still held about 32 million shares (31,867,800, to be precise) in Janus Henderson, which represents a 20-percent stake of the fund firm's 158.96 million shares outstanding. Trian's JHG share count is the same as at the end of Q1 2022 (though it was a 19.1-percent stake then). JHG's shares priced at $44.48 yesterday, up by $6.75 (17.9 percent) from the end of Q3 2024 and up by $13.88 (45.4 percent) since the end of Q1 2022.

Peltz and his team have been betting on Janus Henderson and Invesco for at least four years. 

Edited by: Neil Anderson, Managing Editor


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