Trian Partners

Q3 2022 13F · by Nelson Peltz, CEO

As of: Sep 30, 2022
Filed: Nov 14, 2022
US stock: $3.8B · prev $4.5B
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

+0.9 pp in · −3.8 pp out

New 0 0.00 pp
Added 2 +0.94 pp
Trimmed 2 −3.82 pp
Exited 0 0.00 pp

The book

Very concentrated · behaves like 5 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 positions93% of US stock

FERG Ferguson Enterprises Inc. trimmed−0.81 pp trimmed−0.8130.4%
IVZ Invesco LTD held held20.1%
JHG Janus Henderson Group PLC held held17.0%
SYY Sysco Corporation trimmed−3.01 pp trimmed−3.0113.4%
WEN The Wendy's Company held held12.5%

Positions8 in this filing · 0 exited


FERGFerguson Enterprises Inc.	30.40%	11,218,181	$1.2B	trimmed−13%	−0.81 pp	7 q
IVZInvesco LTD	20.11%	55,758,634	$764M	held	—	10 q
JHGJanus Henderson Group PLC	17.04%	31,867,800	$647M	held	—	4 q
SYYSysco Corporation	13.36%	7,177,540	$508M	trimmed−18%	−3.01 pp	30 q
WENThe Wendy's Company	12.47%	25,333,339	$473M	held	—	38 q
GEGE Aerospace	6.57%	4,027,274	$249M	added0%	+0.94 pp	5 q
MDLZMondelez International, Inc. Class A	0.02%	16,239	$890,000	held	—	38 q
PGProcter & Gamble Company	0.02%	5,589	$706,000	added+2%	0.00 pp	24 q

Source

Form: 13F-HR
Reading: 0 defects · 0 unresolved
Accession: 0001345471-22-000089
Options: none in this filing
Notes: none in this filing
SEC cross-check: SEC data set not published yet