Trian Partners

Q1 2019 13F · by Nelson Peltz, CEO

As of: Mar 31, 2019
Filed: May 15, 2019
US stock: $9.3B · prev $9.2B
Positions: 8 · prev 9
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

+4.5 pp in · −4.5 pp out

New 0 0.00 pp
Added 3 +4.47 pp
Trimmed 5 −0.97 pp
Exited 1 −3.51 pp

The book

Very concentrated · behaves like 4 equal-sized positions

Very concentrated
Concentrated
Focused
Diversified

Low turnover · 0.0% a year, more than 30 years per position

Low
Moderate
High

Top 5 positions82% of US stock

PG Procter & Gamble Company trimmed+3.14 pp trimmed+3.1440.9%
SYY Sysco Corporation trimmed−2.64 pp trimmed−2.6416.6%
MDLZ Mondelez International, Inc. Class A added+1.90 pp added+1.9010.1%
unresolved General Electric Co added+1.77 pp added+1.777.6%
PPG PPG Industries, Inc. trimmed−0.53 pp trimmed−0.537.2%

Positions8 in this filing · 1 exited


PGProcter & Gamble Company	40.87%	36,702,028	$3.8B	trimmed−3%	+3.14 pp	10 q
SYYSysco Corporation	16.56%	23,182,037	$1.5B	trimmed−18%	−2.64 pp	16 q
MDLZMondelez International, Inc. Class A	10.06%	18,824,870	$940M	added0%	+1.90 pp	24 q
unresolvedGeneral Electric Co	7.58%	70,872,160	$708M	added0%	+1.77 pp	16 q
PPGPPG Industries, Inc.	7.23%	5,982,630	$675M	trimmed−15%	−0.53 pp	4 q
BNYBank of New York Mellon Corporation	7.15%	13,240,187	$668M	trimmed−18%	−1.07 pp	21 q
WENThe Wendy's Company	5.48%	28,630,629	$512M	trimmed−9%	+0.13 pp	24 q
NVTnVent Electric plc	5.07%	17,568,773	$474M	added0%	+0.80 pp	4 q
PNRPentair plc	—	−8,580,717	—	exited	−3.51 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001345471-19-000026
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet