Inside Nelson Peltz’s $3.8 Billion Portfolio (8 Stocks Only)

He started as a delivery truck driver. Today, he manages free point eight billion dollars and forces billion dollar companies like Disney, Procter & Gamble, and Unilever to change strategy or face a very public fight. Nelson Peltz is one of the most aggressive activist investors in the world. He buys, gets a seat at the table, and pushes his ideas. And today, I am opening his extremely concentrated US stock portfolio, just eight positions, to understand what he's betting on right now. >> [music] >> Let's start at the very bottom, GE Healthcare Technologies. This is basically a rounding error, 0.01% [music] of the portfolio, worth just $287,852. He received $162 in dividends last quarter, and the value dropped by $43,000. No changes to this position. If we look at the investment history, everything seems pretty clear. He owned General Electric, and in 2023, this company was split into three different companies. One of them was GE Healthcare Technologies. That's how he got the shares. But, as we can see, after a year and a half, he sold almost everything. It looks like Peltz decided it wasn't the kind of business he wanted to stay in. He took his profits and moved on. The only question is why he left this very small position at all. But, there is no official statement from him explaining this. His seventh biggest position is a brand [music] new one. He bought 241,000 shares at around $14.95. That is clearly just the beginning. Magnum ice cream, yes, that ice cream brand, became an independent publicly listed company after being spun off from Unilever. And that is very relevant here because Nelson Peltz spent years fighting Unilever. He pushed hard for strategic changes, including breaking up the company or spinning off underperforming divisions. And now, one of those divisions, not necessarily an underperforming one, is trading as a standalone stock, and Peltz is buying. This is a tiny position for now, but it is an interesting one to watch. He knows the business. He knows its history, and he clearly sees something worth following. His sixth biggest position is Invesco, the asset management company. [music] It makes up 1.87% of the portfolio, worth $72 million. He received over 600,000 dollars in dividends last quarter, and the value dropped by 5.9 million. And since he did not sell any shares recently, it was all due to a falling price. And the investment history here tells a fascinating story. Peltz bought his first shares in Q2 2020 for around $10. He doubled it next quarter, and added even more in Q1 2022 when the price reached $25. And it was the worst possible moment to buy it. The price kept on falling for over half a year. He trimmed it back when the stock was at $16.40 and he kept on selling it through the years. And most probably he did not lose any money on this investment, but it definitely was not a huge success. What is important to notice is that he was receiving some decent dividends all through the years. But at this point, Invesco is a very small position for him. It looks like a slow exit from a thesis that did not play out the way he expected. Wendy's make up 5.48% of the portfolio worth $211 million. He received $4.2 million in dividends last quarter and the value dropped by nearly $42 million. And last quarter he was marked as a buyer, though the share change was listed as 0.0% meaning the increase was very small. In Q1 2015, Peltz owned almost 65 million shares while the price was around $11. He trimmed it a bit till Q3 2015 and then just hold it for many years. Only when the price crossed $17, he started to sell it slowly. And it was looking really nicely until Q3 2023, when he decided to buy more shares for around $20.40. And since that day, the shares are going down all the time. He is not in a position that he has to sell, so he's just holding on hoping that uh trend will eventually turn. But at the end of Q1 2026, the price was only $6.95. So, he is definitely in the red. But look at how the quarterly dividend payment grew from around 2 million per quarter in the early years all the way up to 8 million at its peak. And even though the dividend was cut, he's still collecting over $4 million every quarter from a position he's held for more than 10 years. Before we continue, if you've been watching this video thinking, "I want to dig deeper. I want to know more about these companies and other elite investors." Now, you can. Stock Investing Academy is offering a full month of premium access completely free. Elite investor portfolios, interactive company dashboards, valuation calculators, and stock comparison tools. Most platforms drown you in data. More metrics, more ratios, more numbers. And the one thing you actually came for, a clear picture of whether a stock is worth owning, gets buried under all of it. We took the opposite approach. Every tool on the platform exists for one reason, to show you what matters. You get everything you need, nothing you don't. Link is in the description, and remember, first month is on us. Now, back to the portfolio. >> [music] >> Position four is Ferguson Enterprises, the plumbing [music] and HVAC distribution company. It makes up 6.57% of the portfolio worth $253 million. He received almost $1 million in dividends last quarter, and the value went up by 11.5 million. And he's just holding this position. They distribute pipes, valves, fittings, the kind of infrastructure products that keep buildings running. Not exciting, but very steady. The investment history shows he started buying in 2021, and straight away received a huge dividend of $33 million. The price back then was around $120. He sold some shares in Q4 2021 when the price was around $177. And when it fell back down again to 110, he added over 1 million shares. And since then, he's trimming this position while the price is going up. At the end of Q1 2026, it was around $233. So, a very nice investment backed by a nice amount of dividends through the years. >> [music] >> Now, we get to the podium places, and third is Solventum. It makes up nearly 14% of the portfolio worth $537 million. dollars. No dividends received last quarter and the value dropped by 114 million dollars. Also, no changes to this position last quarter. Solventum is a healthcare company that was spun off from 3M in 2024. It focuses on medical solutions, dental products, and health information systems. He first appeared as a shareholder in Q2 2024, shortly after the spin-off. He bought around 5 million shares at $52 and he kept on adding till Q4 2024. Since then, he's basically just holding the shares. Only in Q4 2025, when the price got to almost $80, he trimmed it a bit. Again, there is a clear pattern here. Pelts and spin-offs. He understands what happens when a large conglomerate breaks itself apart. The new stand-alone company often gets ignored, undervalued, and misunderstood. And that creates an opportunity. Now we are in the top two and this is where the real money is. GE Aerospace is 29.63% of the portfolio, worth 1.14 billion dollars. He received 1.9 million dollars in dividends last quarter and he did not make any changes to this position. GE Aerospace is the jet engine business that emerged from the breakup of General Electric, one of the most complex conglomerate restructuring in American history. This is also how he got shares of GE Healthcare, which we talked about earlier. The biggest amount of shares he owned was in Q3 2015 when the company was a very different business. He held around 8 million shares all the way till 2020, collected enormous dividends in the early years, and then watched those dividends essentially disappear as the company restructured. And finally, in Q3 2020, he decided there is no good reason to keep the entire position, and he sold basically half of it. The price didn't do much until the splitting of the company, which officially ended in April 2024. Since that moment, the stock nearly doubled. Peltz kept the shares, which was a great decision, and slowly we can see that the dividends are also coming back up again. Jet engines are one of those businesses where the moat is very deep. You don't just build a jet engine. It takes decades of engineering, certification, and trust. And the aftermarket, the parts and services that keep those engines running is an incredibly durable revenue stream. >> [music] >> And the biggest position of all is Janus Henderson Group, 42.41% worth $1.64 billion. in dividends last quarter, and the value went up by $121 million. While he did not make any changes to this position. Janus Henderson is an asset management company. It manages money for institutions and retail investors around the world. If you look at the investment history, Peltz started buying it in Q2 2020 for around $21 per share. He kept adding steadily until Q1 2022. And we can see that after this purchase, the price fell down significantly. But Peltz did not sell. He's actually not making any changes to this position for the last 4 years. And this commitment is paying back. The price at the end of Q1 2026 was over $51. That is a very good result, especially that he was receiving huge dividends every quarter. But that is not the end of this story. It is actually the beginning. We can see that they suspended their regular quarterly dividend. The reason is actually very straightforward. In late January 2026, Janus Henderson announced it is being acquired. And the buyer is an investor group led by Trian Fund Management. So, Nelson Peltz is not just a shareholder here. He's buying the entire company. The plan is to take it private and accelerate its growth. Now, let's zoom out and think about what this portfolio actually tells us. Look at the pattern. Solventum spun off from 3M. GE Aerospace and GE Healthcare spun off from General Electric. Magnum ice cream spun off from Unilever. And he doesn't just wait for spin-offs to happen. In some cases, he helped create them and then he buys in while the market is still figuring out what these new companies are worth. >> [music] >> He is definitely not jumping in and out of stocks. Wendy's over 10 years. [music] GE started buying it in 2015. Janus Henderson held since 2020. This is not a trader. This is an investor who identifies a thesis, sometimes helps push it forward from the inside, and then holds while the market catches up. He's been trimming Ferguson and Invesco steadily. He sold almost all of GE Healthcare. What remains is a portfolio getting more focused every quarter with Janus Henderson and GE Aerospace making up over 70% of his US portfolio.