Trian Partners

Q3 2019 13F · by Nelson Peltz, CEO

As of: Sep 30, 2019
Filed: Nov 14, 2019
US stock: $9.6B · prev $9.5B
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%

Moves7 since the prior filing

+4.2 pp in · −5.7 pp out

New 0 0.00 pp
Added 4 +4.18 pp
Trimmed 2 −0.51 pp
Exited 1 −5.20 pp

The book

Very concentrated · behaves like 3 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 positions90% of US stock

PG Procter & Gamble Company added+5.17 pp added+5.1747.6%
SYY Sysco Corporation held held19.6%
MDLZ Mondelez International, Inc. Class A added+0.16 pp added+0.1610.9%
unresolved General Electric Co added−1.13 pp added−1.136.0%
BNY Bank of New York Mellon Corporation trimmed−0.14 pp trimmed−0.145.7%

Positions8 in this filing · 1 exited


PGProcter & Gamble Company	47.56%	36,630,557	$4.6B	added0%	+5.17 pp	12 q
SYYSysco Corporation	19.62%	23,671,603	$1.9B	held	—	18 q
MDLZMondelez International, Inc. Class A	10.87%	18,828,318	$1.0B	added0%	+0.16 pp	26 q
unresolvedGeneral Electric Co	5.99%	64,226,906	$574M	added0%	−1.13 pp	18 q
BNYBank of New York Mellon Corporation	5.74%	12,154,366	$549M	trimmed−4%	−0.14 pp	23 q
WENThe Wendy's Company	5.55%	26,630,629	$532M	trimmed−7%	−0.37 pp	26 q
NVTnVent Electric plc	3.12%	13,551,961	$299M	held	—	6 q
LMLegg Mason, Inc.	1.55%	3,881,704	$148M	added0%	−0.02 pp	2 q
PPGPPG Industries, Inc.	—	−4,224,826	—	exited	−5.20 pp	—

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001345471-19-000052
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet