Trian Partners

Q4 2019 13F · by Nelson Peltz, CEO

As of: Dec 31, 2019
Filed: Feb 14, 2020
US stock: $9.5B · prev $9.6B
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%

Moves4 since the prior filing

+3.4 pp in · −5.2 pp out

New 0 0.00 pp
Added 3 +3.36 pp
Trimmed 1 −5.22 pp
Exited 0 0.00 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 positions89% of US stock

PG Procter & Gamble Company trimmed−5.22 pp trimmed−5.2242.3%
SYY Sysco Corporation added+1.73 pp added+1.7321.4%
MDLZ Mondelez International, Inc. Class A added+0.06 pp added+0.0610.9%
unresolved General Electric Co added+1.57 pp added+1.577.6%
BNY Bank of New York Mellon Corporation held held6.5%

Positions8 in this filing · 0 exited


PGProcter & Gamble Company	42.34%	32,154,627	$4.0B	trimmed−12%	−5.22 pp	13 q
SYYSysco Corporation	21.35%	23,676,143	$2.0B	added0%	+1.73 pp	19 q
MDLZMondelez International, Inc. Class A	10.93%	18,828,365	$1.0B	added0%	+0.06 pp	27 q
unresolvedGeneral Electric Co	7.56%	64,226,941	$717M	added0%	+1.57 pp	19 q
BNYBank of New York Mellon Corporation	6.45%	12,154,366	$612M	held	—	24 q
WENThe Wendy's Company	6.24%	26,630,629	$591M	held	—	27 q
NVTnVent Electric plc	3.66%	13,551,961	$347M	held	—	7 q
LMLegg Mason, Inc.	1.47%	3,881,704	$139M	held	—	3 q

Source

Form: 13F-HR
Reading: 0 defects · 1 unresolved
Accession: 0001345471-20-000007
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet