WhaleCreep

Trian Fund Management, L.P. 13F holdings, Q1 2019

Hedge fundSEC filingsCompare with another fundHoldings as of 2019-03-31, filed 2019-05-15

Trian Fund Management, L.P. disclosed 8 US equity positions worth $9.3bn in its Q1 2019 13F filing. Its largest position is PG at 40.9% of the reported book, followed by SYY and MDLZ. Versus Q4 2018 it opened 0 new positions, added to 0, reduced 5 and exited 1.

$9.3bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
8
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
40.9%
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.
4
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 Q4 2018: 0 new, 0 added, 5 reduced, 1 exited

8 rows
PG PROCTER & GAMBLE COConsumer Defensive40.9%$3.8bn36.70m−3.2%reduced
SYY SYSCO CORPConsumer Defensive16.6%$1.5bn23.18m−18%reduced
MDLZ MONDELEZ INTL INCConsumer Defensive10.1%$940m18.82m0.0%held
GE GENERAL ELECTRIC COIndustrials7.6%$708m70.87m0.0%held
PPG PPG INDS INCBasic Materials7.2%$675m5.98m−15%reduced
BNY BANK OF NY MELLON CORPFinancial Services7.1%$668m13.24m−18%reduced
WEN The Wendy's CoConsumer Cyclical5.5%$512m28.63m−9.5%reduced
NVT NVENT ELECTRIC PLCIndustrials5.1%$474m17.57m0.0%held

Exited since Q4 2018

1 row
PNR PENTAIR PLC3.5%$324m

Sector mix

  • Consumer Defensive67.5%
  • Industrials12.7%
  • Basic Materials7.2%
  • Financial Services7.1%
  • Consumer Cyclical5.5%

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