Trian Partners

Q4 2016 13F · by Nelson Peltz, CEO

As of: Dec 31, 2016
Filed: Feb 14, 2017
US stock: $11.1B · prev $10.2B
Positions: 8 · prev 7
Options notional: $0
Documents: 1· no amendments

Picture100.0% US stock

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

US stock listed on a US exchange 100.0%
Foreign stock not listed in the US 0.0%
Notes debt, at principal 0.0%
Puts at notional value 0.0%
Calls at notional value 0.0%

Moves9 since the prior filing

+15.4 pp in · −15.4 pp out

New 2 +12.11 pp
Added 3 +3.25 pp
Trimmed 3 −6.36 pp
Exited 1 −9.00 pp

The book

Very concentrated · behaves like 6 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Moderate turnover · 50% a year, about 2.0 years per position

Low
Moderate
High

Top 5 positions82% of US stock

SYY Sysco Corporation added+0.90 pp added+0.9021.9%
unresolved General Electric Co trimmed−1.82 pp trimmed−1.8219.2%
MDLZ Mondelez International, Inc. Class A trimmed−2.93 pp trimmed−2.9317.7%
BNY Bank of New York Mellon Corporation added+1.22 pp added+1.2213.8%
unresolved Du Pont E I De Nemours & Co trimmed−1.61 pp trimmed−1.619.8%

Positions8 in this filing · 1 exited


SYYSysco Corporation	21.95%	43,973,115	$2.4B	added0%	+0.90 pp	7 q
unresolvedGeneral Electric Co	19.20%	67,419,115	$2.1B	trimmed−7%	−1.82 pp	7 q
MDLZMondelez International, Inc. Class A	17.67%	44,231,954	$2.0B	trimmed−8%	−2.93 pp	15 q
BNYBank of New York Mellon Corporation	13.83%	32,372,656	$1.5B	added0%	+1.22 pp	12 q
unresolvedDu Pont E I De Nemours & Co	9.81%	14,833,257	$1.1B	trimmed−15%	−1.61 pp	15 q
PNRPentair plc	7.25%	14,337,040	$804M	new	+7.25 pp	new
WENThe Wendy's Company	5.43%	44,535,921	$602M	added+9%	+1.13 pp	15 q
PGProcter & Gamble Company	4.86%	6,416,284	$539M	new	+4.86 pp	new
unresolvedPentair PLC	—	−14,337,040	—	exited	−9.00 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 2 unresolved
Accession: 0001345471-17-000010
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet