Trian Partners

Q1 2018 13F · by Nelson Peltz, CEO

As of: Mar 31, 2018
Filed: May 15, 2018
US stock: $9.9B · prev $11.8B
Positions: 7 · 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%

Moves6 since the prior filing

+4.6 pp in · −5.5 pp out

New 0 0.00 pp
Added 3 +4.63 pp
Trimmed 3 −5.48 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 5 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 1.6% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions86% of US stock

PG Procter & Gamble Company held held30.3%
SYY Sysco Corporation added+4.26 pp added+4.2627.1%
PNR Pentair plc trimmed+1.38 pp trimmed+1.3810.6%
unresolved General Electric Co added−0.83 pp added−0.839.6%
BNY Bank of New York Mellon Corporation added+1.20 pp added+1.208.4%

Positions7 in this filing · 0 exited


PGProcter & Gamble Company	30.32%	37,908,621	$3.0B	held	—	6 q
SYYSysco Corporation	27.12%	44,840,642	$2.7B	added+1%	+4.26 pp	12 q
PNRPentair plc	10.59%	15,411,582	$1.0B	trimmed0%	+1.38 pp	6 q
unresolvedGeneral Electric Co	9.63%	70,853,818	$955M	added0%	−0.83 pp	12 q
BNYBank of New York Mellon Corporation	8.39%	16,136,596	$832M	added+2%	+1.20 pp	17 q
MDLZMondelez International, Inc. Class A	7.92%	18,820,060	$785M	trimmed−56%	−7.47 pp	20 q
WENThe Wendy's Company	6.03%	34,035,921	$597M	trimmed−13%	+0.61 pp	20 q

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001345471-18-000030
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet