Trian Partners

Q3 2016 13F · by Nelson Peltz, CEO

As of: Sep 30, 2016
Filed: Nov 14, 2016
US stock: $10.2B · prev $10.5B
Positions: 7 · prev 7
Options notional: $0
Documents: 1· no amendments

Picture91.0% US stock

Full picture · of what this 13F reports is US stock

US stock listed on a US exchange 91.0%
Foreign stock not listed in the US 9.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves4 since the prior filing

+0.5 pp in · −1.9 pp out

New 0 0.00 pp
Added 2 +0.48 pp
Trimmed 2 −1.86 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 6 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.2% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions87% of US stock

SYY Sysco Corporation added−0.20 pp added−0.2021.1%
unresolved General Electric Co trimmed−1.40 pp trimmed−1.4021.0%
MDLZ Mondelez International, Inc. Class A held held20.6%
BNY Bank of New York Mellon Corporation added+0.68 pp added+0.6812.6%
unresolved Du Pont E I De Nemours & Co trimmed−0.46 pp trimmed−0.4611.4%

Positions7 in this filing · 0 exited


SYYSysco Corporation	21.05%	43,966,457	$2.2B	added0%	−0.20 pp	6 q
unresolvedGeneral Electric Co	21.02%	72,624,115	$2.2B	trimmed−3%	−1.40 pp	6 q
MDLZMondelez International, Inc. Class A	20.60%	48,031,904	$2.1B	held	—	14 q
BNYBank of New York Mellon Corporation	12.61%	32,372,626	$1.3B	added0%	+0.68 pp	11 q
unresolvedDu Pont E I De Nemours & Co	11.42%	17,450,891	$1.2B	trimmed−9%	−0.46 pp	14 q
unresolvedPentair PLC	9.00%	14,337,040	$921M	held	—	6 q
WENThe Wendy's Company	4.30%	40,792,537	$441M	held	—	14 q

Source

Form: 13F-HR
Reading: 2 defects · 3 unresolved
Accession: 0001345471-16-000143
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet

A row was set aside — invalid CUSIP G7500T104
A security outside the official 13F list — CUSIP G7500T104 not on the Official 13(f) List for 2016-09-30