WhaleCreep

Trian Fund Management, L.P. 13F holdings, Q4 2018

Hedge fundSEC filingsCompare with another fundHoldings as of 2018-12-31, filed 2019-02-14

Trian Fund Management, L.P. disclosed 9 US equity positions worth $9.2bn in its Q4 2018 13F filing. Its largest position is PG at 37.7% of the reported book, followed by SYY and BNY. Versus Q3 2018 it opened 0 new positions, added to 1, reduced 2 and exited 0.

$9.2bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
9
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
37.7%
Largest position
The largest single position as a share of the reported equity book.
100%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
5
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
62
Quarters on file since Q1 2011
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q3 2018: 0 new, 1 added, 2 reduced, 0 exited

9 rows
PG PROCTER & GAMBLE COConsumer Defensive37.7%$3.5bn37.91m0.0%held
SYY SYSCO CORPConsumer Defensive19.2%$1.8bn28.30m−25%reduced
BNY BANK OF NY MELLON CORPFinancial Services8.2%$760m16.14m0.0%held
MDLZ MONDELEZ INTL INCConsumer Defensive8.2%$754m18.82m0.0%held
PPG PPG INDS INCBasic Materials7.8%$717m7.01m+69%added
GE GENERAL ELECTRIC COIndustrials5.8%$536m70.87m0.0%held
WEN The Wendy's CoConsumer Cyclical5.3%$494m31.63m0.0%held
NVT NVENT ELECTRIC PLCIndustrials4.3%$394m17.56m0.0%held
PNR PENTAIR PLCIndustrials3.5%$324m8.58m−29%reduced

Sector mix

  • Consumer Defensive65.1%
  • Industrials13.6%
  • Financial Services8.2%
  • Basic Materials7.8%
  • Consumer Cyclical5.3%

Book over time

Every quarter on file (62)
QuarterPositionsEquity book
Q2 20268$4.2bn
Q1 20268$3.9bn
Q4 20257$4.0bn
Q3 20257$4.1bn
Q2 202510$3.8bn
Q1 202510$3.7bn
Q4 202410$3.9bn
Q3 202410$3.9bn
Q2 202412$4.1bn
Q1 20249$8.0bn
Q4 20239$7.0bn
Q3 20239$6.6bn
Q2 20238$3.9bn
Q1 20238$3.8bn
Q4 20228$4.9bn
Q3 20228$3.8bn
Q2 20228$4.5bn
Q1 20228$6.0bn
Q4 20219$7.5bn
Q3 20219$8.0bn
Q2 20219$8.6bn
Q1 20219$8.5bn
Q4 20208$6.8bn
Q3 20209$6.1bn
Q2 202010$5.5bn
Q1 20208$6.9bn
Q4 20198$9.5bn
Q3 20198$9.6bn
Q2 20199$9.5bn
Q1 20198$9.3bn
Q4 20189$9.2bn
Q3 20189$10.3bn
Q2 20189$10.3bn
Q1 20187$9.9bn
Q4 20177$11.8bn
Q3 20178$13.0bn
Q2 20178$13.3bn
Q1 20178$13.3bn
Q4 20168$11.1bn
Q3 20167$10.2bn
Q2 20167$10.5bn
Q1 20169$10.4bn
Q4 201510$12.3bn
Q3 201512$11.7bn
Q2 201512$10.4bn
Q1 201510$8.6bn
Q4 201411$9.4bn
Q3 201411$7.6bn
Q2 201411$6.8bn
Q1 201412$6.1bn
Q4 201311$5.9bn
Q3 201310$5.5bn
Q2 201312$5.1bn
Q1 201310$4.7bn
Q4 201211$3.1bn
Q3 201210$3.5bn
Q2 20129$3.1bn
Q1 201212$3.9bn
Q4 20118$2.7bn
Q3 201116$2.7bn
Q2 201120$2.8bn
Q1 201116$2.1bn

Where Trian Fund Management, L.P. was early

15 rows
DPZ Dominos Pizza IncQ2 20111 of 1735.4%5.9%4Exited by Q2 2012+44%
WEN Wendys Co.Q3 20111 of 12712.9%15.0%60Held at last filing, Q2 2026+81%
PEP PepsiCo Inc.Q3 201113 of 1395.3%21.9%14Exited by Q1 2016+61%
IR Ingersoll-Rand PLCQ1 20121 of 1316.3%20.6%15Exited by Q4 2015+23%
LAZ Lazard LtdQ1 20122 of 1064.1%5.3%12Exited by Q1 2015+75%
MDLZ Mondelez Intl Inc.Q4 20122 of 14515.8%26.4%43Exited by Q3 2023+187%
ALLE Allegion Pub Ltd CoQ4 20132 of 1413.0%3.0%6Exited by Q2 2015+38%
BNY Bank New York Mellon Corp.Q1 20149 of 1545.4%14.7%26Exited by Q3 2020+9.5%
SYY Sysco CorporationQ2 20155 of 1413.6%28.2%34Exited by Q2 2024+125%
GE GE AerospaceQ2 201510 of 24212.7%35.6%45Held at last filing, Q2 2026+194%
PNR Pentair PLCQ4 20167 of 1277.2%10.6%9Exited by Q1 2019+0.3%
NVT nVent Electric PlcQ2 20182 of 1574.3%5.1%10Exited by Q4 2020−30%
PPG PPG Inds Inc.Q2 201813 of 1382.6%7.8%5Exited by Q3 2019+13%
GEHC GE HealthCare Technologies Inc.Q1 20235 of 1582.9%4.7%14Held at last filing, Q2 2026−22%
SOLV Solventum CorporationQ2 20244 of 1096.9%17.2%9Held at last filing, Q2 2026+46%

Concentration and tenure

24.7%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
100%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
4
Median completed holding, quarters