Trian Partners

Q1 2017 13F · by Nelson Peltz, CEO

As of: Mar 31, 2017
Filed: May 12, 2017
US stock: $13.3B · prev $11.1B
Positions: 8 · prev 8
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%

Moves6 since the prior filing

+7.4 pp in · −4.2 pp out

New 0 0.00 pp
Added 5 +7.39 pp
Trimmed 1 −4.15 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 6 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 13% a year, about 7.6 years per position

Low
Moderate
High

Top 5 positions83% of US stock

PG Procter & Gamble Company added+19.88 pp added+19.8824.7%
SYY Sysco Corporation added−4.83 pp added−4.8317.1%
unresolved General Electric Co added−3.78 pp added−3.7815.4%
MDLZ Mondelez International, Inc. Class A added−3.38 pp added−3.3814.3%
BNY Bank of New York Mellon Corporation held held11.5%

Positions8 in this filing · 0 exited


PGProcter & Gamble Company	24.74%	36,718,855	$3.3B	added×5.7	+19.88 pp	2 q
SYYSysco Corporation	17.12%	43,973,835	$2.3B	added0%	−4.83 pp	8 q
unresolvedGeneral Electric Co	15.42%	68,977,055	$2.1B	added+2%	−3.78 pp	8 q
MDLZMondelez International, Inc. Class A	14.29%	44,232,073	$1.9B	added0%	−3.38 pp	16 q
BNYBank of New York Mellon Corporation	11.47%	32,372,656	$1.5B	held	—	13 q
PNRPentair plc	6.75%	14,338,162	$900M	added0%	−0.50 pp	2 q
unresolvedDu Pont E I De Nemours & Co	5.66%	9,390,689	$754M	trimmed−37%	−4.15 pp	16 q
WENThe Wendy's Company	4.55%	44,535,921	$606M	held	—	16 q

Source

Form: 13F-HR
Reading: 0 defects · 2 unresolved
Accession: 0001345471-17-000022
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet