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Monday, August 15, 2022

A Big Invesco Backer Adds Chips

News summary by MFWire's editors

A high profile activist investor is adding to his bet on one big, publicly traded fund firm, but not to his bet on another such firm.

Nelson Peltz
Trian Fund Management
CEO, Founding Partner
Last quarter, Nelson Peltz's Trian Fund Management, L.P. increased its stake in Invesco Ltd. [profile], according to Trian's latest form 13F, filed with the SEC on Friday. (Seeking Alpha highlighted the change.)

More specifically, Trian increased its Invesco stake by 3.2 percent in Q2 to 55.758634 million shares on June 30, 2022. With 454.94 million Invesco shares outstanding, Trian's shares translate into a 12.3 percent, up from 11.9 percent at the end of Q1. And at a valuation of $899.387 million, per the 13F, Trian's Invesco shares make 19.8 percent of Trian's total 13F holdings; like last quarter, Invesco remains Trian's single biggest holding.

(Meanwhile, last quarter Trian also increased stakes in a couple of other holdings, while decreasing stakes in two others. And Trian also maintained its stake in another big, publicly traded fund firm, without net buying or selling shares.)

Peltz and his team have been betting on Invesco at least as far back as fall 2020. The latest stake increase comes after Peltz and one of his Trian partners left Invesco's board earlier this year, after joining back in 2020. 

Edited by: Neil Anderson, Managing Editor

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