TRIAN FUND MANAGEMENT, L.P. Activity Q1 2011-Q3 2023

Add to watchlist

Q3 2023

			Value		Shares		↓ Weighting
DIS	Buy	The Walt Disney Company	$2,663,976,282	+364.4%	32,868,307	+411.6%	40.52%	+174.1%
FERG	Sell	Ferguson Plc New	$890,640,905	+3.0%	5,415,218	-1.4%	13.55%	-39.2%
WEN	Buy	Wendys Co.	$680,688,664	+51.0%	33,350,743	+60.9%	10.35%	-10.9%
	Buy	General Electric Co.	$445,498,812	+0.7%	4,029,840	+0.0%	6.78%	-40.6%
	New	The Allstate Corporation	$405,935,481	–	3,643,618	–	6.17%	–
SYY	New	Sysco Corporation	$80,812,175	–	1,223,500	–	1.23%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-16,530	–	-0.03%	–

Q2 2023

			Value		Shares		↓ Weighting
JHG	New	Janus Henderson Group plc	$868,397,550	–	31,867,800	–	22.38%	–
FERG	New	Ferguson Plc New	$864,371,257	–	5,494,700	–	22.27%	–
DIS	New	The Walt Disney Company	$573,628,464	–	6,425,050	–	14.78%	–
IVZ	New	Invesco Ltd.	$570,533,014	–	33,940,096	–	14.70%	–
WEN	New	Wendys Co.	$450,934,659	–	20,732,628	–	11.62%	–
	New	General Electric Co.	$442,585,430	–	4,028,998	–	11.40%	–
	New	GE HealthCare Technologies Inc.	$109,091,509	–	1,342,830	–	2.81%	–
MDLZ	New	Mondelez Intl Inc.cl a	$1,205,698	–	16,530	–	0.03%	–

Q4 2022

			Value		Shares		↓ Weighting
PG	Exit	Procter and Gamble Co.	$0	–	-5,589	–	-0.02%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-16,239	–	-0.02%	–
	Exit	General Electric Co.	$0	–	-4,027,274	–	-6.56%	–
WEN	Exit	Wendys Co.	$0	–	-25,333,339	–	-12.47%	–
SYY	Exit	Sysco Corp.	$0	–	-7,177,540	–	-13.36%	–
JHG	Exit	Janus Henderson Group plc	$0	–	-31,867,800	–	-17.04%	–
IVZ	Exit	Invesco Ltd.	$0	–	-55,758,634	–	-20.11%	–
FERG	Exit	Ferguson Plc New	$0	–	-11,218,181	–	-30.40%	–

Q3 2022

			Value		Shares		↓ Weighting
FERG	Sell	Ferguson Plc New	$1,154,688,000	-18.7%	11,218,181	-12.5%	30.40%	-2.6%
SYY	Sell	Sysco Corp.	$507,524,000	-31.9%	7,177,540	-18.4%	13.36%	-18.4%
	Buy	General Electric Co.	$249,329,000	-2.7%	4,027,274	+0.0%	6.56%	+16.5%
PG	Buy	Procter and Gamble Co.	$706,000	-10.1%	5,589	+2.4%	0.02%	+11.8%

Q2 2022

			Value		Shares		↓ Weighting
FERG	New	Ferguson Plc New	$1,420,034,000	–	12,826,611	–	31.21%	–
IVZ	New	Invesco Ltd.	$899,387,000	–	55,758,634	–	19.77%	–
JHG	New	Janus Henderson Group plc	$749,212,000	–	31,867,800	–	16.47%	–
SYY	New	Sysco Corp.	$744,868,000	–	8,793,157	–	16.37%	–
WEN	New	Wendys Co.	$478,293,000	–	25,333,339	–	10.51%	–
	New	General Electric Co.	$256,375,000	–	4,026,615	–	5.64%	–
MDLZ	New	Mondelez Intl Inc.cl a	$1,008,000	–	16,239	–	0.02%	–
PG	New	Procter and Gamble Co.	$785,000	–	5,457	–	0.02%	–

Q4 2021

			Value		Shares		↓ Weighting
	Exit	General Electric Co.	$0	–	-4,025,628	–	-5.16%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-7,997,848	–	-5.78%	–
WEN	Exit	Wendys Co.	$0	–	-25,333,339	–	-6.83%	–
PG	Exit	Procter and Gamble Co.	$0	–	-5,269,523	–	-9.16%	–
IVZ	Exit	Invesco Ltd.	$0	–	-36,755,775	–	-11.88%	–
	Exit	Janus Henderson Group plc	$0	–	-23,702,312	–	-12.18%	–
SYY	Exit	Sysco Corp.	$0	–	-13,382,626	–	-13.06%	–
CMCSA	Exit	Comcast Corp. Newcl a	$0	–	-19,991,416	–	-13.90%	–
FERG	Exit	Ferguson Plc New	$0	–	-12,728,931	–	-22.05%	–

Q3 2021

			Value		Shares		↓ Weighting
FERG	Sell	Ferguson Plc New	$1,773,802,000	-2.6%	12,728,931	-3.0%	22.05%	+3.6%
CMCSA	Sell	Comcast Corp. Newcl a	$1,118,120,000	-5.7%	19,991,416	-3.9%	13.90%	+0.3%
SYY	Sell	Sysco Corp.	$1,050,536,000	-24.4%	13,382,626	-25.1%	13.06%	-19.6%
	Buy	Janus Henderson Group plc	$979,617,000	+18.9%	23,702,312	+11.7%	12.18%	+26.5%
PG	Sell	Procter and Gamble Co.	$736,679,000	-5.7%	5,269,523	-9.0%	9.16%	+0.2%
WEN	Sell	Wendys Co.	$549,227,000	-11.9%	25,333,339	-4.9%	6.83%	-6.4%
MDLZ	Sell	Mondelez Intl Inc.cl a	$465,315,000	-13.7%	7,997,848	-7.4%	5.78%	-8.2%
	New	General Electric Co.	$414,760,000	–	4,025,628	–	5.16%	–
GE	Exit	General Electric Co.	$0	–	-32,201,472	–	-5.07%	–

Q2 2021

			Value		Shares		↓ Weighting
FERG	New	Ferguson Plc New	$1,821,217,000	–	13,117,373	–	21.29%	–
SYY	New	Sysco Corp.	$1,389,838,000	–	17,875,724	–	16.25%	–
CMCSA	New	Comcast Corp. Newcl a	$1,185,872,000	–	20,797,466	–	13.86%	–
IVZ	New	Invesco Ltd.	$955,650,000	–	36,755,775	–	11.17%	–
	New	Janus Henderson Group plc	$823,668,000	–	21,223,084	–	9.63%	–
PG	New	Procter and Gamble Co.	$781,486,000	–	5,791,785	–	9.14%	–
WEN	New	Wendys Co.	$623,689,000	–	26,630,629	–	7.29%	–
MDLZ	New	Mondelez Intl Inc.cl a	$539,362,000	–	8,638,085	–	6.30%	–
GE	New	General Electric Co.	$433,432,000	–	32,201,472	–	5.07%	–

Q4 2020

			Value		Shares		↓ Weighting
NVT	Exit	nVent Electric Plc	$0	–	-5,827,483	–	-1.70%	–
GE	Exit	General Electric Co.	$0	–	-32,183,233	–	-3.31%	–
	Exit	Janus Henderson Group plc	$0	–	-17,666,612	–	-6.34%	–
IVZ	Exit	Invesco Ltd.	$0	–	-36,739,343	–	-6.93%	–
WEN	Exit	Wendys Co.	$0	–	-26,630,629	–	-9.81%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-12,241,559	–	-11.62%	–
CMCSA	Exit	Comcast Class A Ordcl a	$0	–	-15,628,146	–	-11.95%	–
PG	Exit	Procter and Gamble Co.	$0	–	-10,128,875	–	-23.26%	–
SYY	Exit	Sysco Corp.	$0	–	-24,379,843	–	-25.07%	–

Q3 2020

			Value		Shares		↓ Weighting
PG	Sell	Procter and Gamble Co.	$1,407,812,000	+8.8%	10,128,875	-6.4%	23.26%	-0.6%
CMCSA	Buy	Comcast Class A Ordcl a	$722,958,000	+159.1%	15,628,146	+118.3%	11.95%	+136.7%
MDLZ	Sell	Mondelez Intl Inc.cl a	$703,278,000	-13.2%	12,241,559	-22.8%	11.62%	-20.7%
IVZ	Buy	Invesco Ltd.	$419,196,000	+76.9%	36,739,343	+66.8%	6.93%	+61.6%
	New	Janus Henderson Group plc	$383,719,000	–	17,666,612	–	6.34%	–
GE	Sell	General Electric Co.	$200,502,000	-50.5%	32,183,233	-45.8%	3.31%	-54.8%
NVT	Sell	nVent Electric Plc	$103,088,000	-55.6%	5,827,483	-53.0%	1.70%	-59.4%
BK	Exit	Bank New York Mellon Corp.	$0	–	-4,383,286	–	-3.06%	–
JHG	Exit	Janus Henderson Group PLC	$0	–	-8,932,350	–	-3.42%	–

Q2 2020

			Value		Shares		↓ Weighting
SYY	New	Sysco Corp.	$1,332,602,000	–	24,379,843	–	24.10%	–
PG	New	Procter and Gamble Co.	$1,294,447,000	–	10,825,852	–	23.41%	–
MDLZ	New	Mondelez Intl Inc.cl a	$810,355,000	–	15,848,921	–	14.66%	–
WEN	New	Wendys Co.	$580,015,000	–	26,630,629	–	10.49%	–
GE	New	General Electric Co.	$405,240,000	–	59,332,322	–	7.33%	–
CMCSA	New	Comcast Corp Newcl a	$279,058,000	–	7,159,000	–	5.05%	–
IVZ	New	Invesco Ltd	$237,010,000	–	22,026,991	–	4.29%	–
NVT	New	nVent Electric Plc	$232,092,000	–	12,391,442	–	4.20%	–
JHG	New	Janus Henderson Group PLC	$189,009,000	–	8,932,350	–	3.42%	–
BK	New	Bank New York Mellon Corp.	$169,414,000	–	4,383,286	–	3.06%	–

Q4 2019

			Value		Shares		↓ Weighting
LM	Exit	Legg Mason Inc.	$0	–	-3,881,704	–	-1.55%	–
NVT	Exit	nVent Electric Plc	$0	–	-13,551,961	–	-3.12%	–
WEN	Exit	Wendys Co.	$0	–	-26,630,629	–	-5.55%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-12,154,366	–	-5.74%	–
GE	Exit	General Electric Co.	$0	–	-64,226,906	–	-5.99%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-18,828,318	–	-10.87%	–
SYY	Exit	Sysco Corp.	$0	–	-23,671,603	–	-19.62%	–
PG	Exit	Procter and Gamble Co.	$0	–	-36,630,557	–	-47.56%	–

Q3 2019

			Value		Shares		↓ Weighting
PG	Buy	Procter and Gamble Co.	$4,556,109,000	+13.4%	36,630,557	+0.0%	47.56%	+12.2%
MDLZ	Buy	Mondelez Intl Inc.cl a	$1,041,583,000	+2.6%	18,828,318	+0.0%	10.87%	+1.5%
GE	Buy	General Electric Co.	$574,189,000	-14.8%	64,226,906	+0.0%	5.99%	-15.8%
BK	Sell	Bank New York Mellon Corp.	$549,499,000	-1.4%	12,154,366	-3.7%	5.74%	-2.5%
WEN	Sell	Wendys Co.	$532,080,000	-5.1%	26,630,629	-7.0%	5.55%	-6.1%
LM	Buy	Legg Mason Inc.	$148,242,000	-0.1%	3,881,704	+0.1%	1.55%	-1.3%
PPG	Exit	PPG Inds Inc.	$0	–	-4,224,826	–	-5.20%	–

Q2 2019

			Value		Shares		↓ Weighting
PG	New	Procter and Gamble Co.	$4,016,539,000	–	36,630,543	–	42.39%	–
SYY	New	Sysco Corp.	$1,674,056,000	–	23,671,603	–	17.67%	–
MDLZ	New	Mondelez Intl Inc.cl a	$1,014,844,000	–	18,828,276	–	10.71%	–
GE	New	General Electric Co.	$674,281,000	–	64,217,283	–	7.12%	–
WEN	New	Wendys Co.	$560,588,000	–	28,630,629	–	5.92%	–
BK	New	Bank New York Mellon Corp.	$557,243,000	–	12,621,581	–	5.88%	–
PPG	New	PPG Inds Inc.	$493,079,000	–	4,224,826	–	5.20%	–
NVT	New	nVent Electric Plc	$335,953,000	–	13,551,961	–	3.55%	–
LM	New	Legg Mason Inc.	$148,441,000	–	3,877,774	–	1.57%	–

Q4 2018

			Value		Shares		↓ Weighting
PPG	Exit	PPG Inds Inc.	$0	–	-4,143,262	–	-4.37%	–
NVT	Exit	nVent Electric Plc	$0	–	-17,562,998	–	-4.61%	–
PNR	Exit	Pentair PLC	$0	–	-12,036,582	–	-5.05%	–
WEN	Exit	Wendys Co.	$0	–	-31,630,629	–	-5.24%	–
GE	Exit	General Electric Co.	$0	–	-70,865,214	–	-7.74%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-18,824,773	–	-7.82%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-16,138,942	–	-7.96%	–
SYY	Exit	Sysco Corp.	$0	–	-37,656,693	–	-26.68%	–
PG	Exit	Procter and Gamble Co.	$0	–	-37,908,621	–	-30.52%	–

Q3 2018

			Value		Shares		↓ Weighting
SYY	Sell	Sysco Corp.	$2,758,353,000	-5.1%	37,656,693	-11.5%	26.68%	-5.4%
MDLZ	Buy	Mondelez Intl Inc.cl a	$808,712,000	+4.8%	18,824,773	+0.0%	7.82%	+4.4%
GE	Buy	General Electric Co.	$800,068,000	-17.0%	70,865,214	+0.0%	7.74%	-17.3%
PNR	Sell	Pentair PLC	$521,786,000	-9.7%	12,036,582	-12.4%	5.05%	-10.1%
PPG	Buy	PPG Inds Inc.	$452,154,000	+68.1%	4,143,262	+59.8%	4.37%	+67.5%

Q2 2018

			Value		Shares		↓ Weighting
PG	New	Procter and Gamble Co.	$2,959,147,000	–	37,908,621	–	28.72%	–
SYY	New	Sysco Corp.	$2,906,576,000	–	42,562,249	–	28.21%	–
GE	New	General Electric Co.	$964,420,000	–	70,861,131	–	9.36%	–
BK	New	Bank New York Mellon Corp.	$870,373,000	–	16,138,942	–	8.45%	–
MDLZ	New	Mondelez Intl Inc.cl a	$771,812,000	–	18,824,680	–	7.49%	–
PNR	New	Pentair PLC	$578,156,000	–	13,739,444	–	5.61%	–
WEN	New	Wendys Co.	$543,414,000	–	31,630,629	–	5.27%	–
NVT	New	nVent Electric Plc	$440,831,000	–	17,562,998	–	4.28%	–
PPG	New	PPG Inds Inc.	$269,026,000	–	2,593,520	–	2.61%	–

Q4 2017

			Value		Shares		↓ Weighting
WEN	Exit	Wendys Co.	$0	–	-39,035,921	–	-4.67%	–
DWDP	Exit	DowDuPont Inc.	$0	–	-12,526,545	–	-6.68%	–
PNR	Exit	Pentair PLC	$0	–	-15,200,931	–	-7.96%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-22,375,489	–	-9.14%	–
GE	Exit	General Electric Co.	$0	–	-70,851,055	–	-13.20%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-42,504,701	–	-13.31%	–
SYY	Exit	Sysco Corp.	$0	–	-44,492,524	–	-18.49%	–
PG	Exit	Procter and Gamble Co.	$0	–	-37,908,621	–	-26.56%	–

Q3 2017

			Value		Shares		↓ Weighting
PG	Buy	Procter and Gamble Co.	$3,448,926,000	+5.2%	37,908,621	+0.8%	26.56%	+7.5%
SYY	Buy	Sysco Corp.	$2,400,372,000	+8.5%	44,492,524	+1.2%	18.49%	+10.8%
MDLZ	Buy	Mondelez Intl Inc.cl a	$1,728,241,000	-5.9%	42,504,701	+0.0%	13.31%	-3.8%
BK	Sell	Bank New York Mellon Corp.	$1,186,348,000	-28.2%	22,375,489	-30.9%	9.14%	-26.6%
DWDP	New	DowDuPont Inc.	$867,213,000	–	12,526,545	–	6.68%	–
DD	Exit	Du Pont E I De Nemours & Co.	$0	–	-9,390,689	–	-5.71%	–

Q2 2017

			Value		Shares		↓ Weighting
PG	New	Procter and Gamble Co.	$3,277,887,000	–	37,612,012	–	24.71%	–
SYY	New	Sysco Corp.	$2,213,241,000	–	43,974,585	–	16.68%	–
GE	New	General Electric Co.	$1,913,687,000	–	70,851,055	–	14.42%	–
MDLZ	New	Mondelez Intl Inc.cl a	$1,835,775,000	–	42,504,623	–	13.84%	–
BK	New	Bank New York Mellon Corp.	$1,651,797,000	–	32,375,489	–	12.45%	–
PNR	New	Pentair PLC	$1,011,470,000	–	15,200,931	–	7.62%	–
DD	New	Du Pont E I De Nemours & Co.	$757,923,000	–	9,390,689	–	5.71%	–
WEN	New	Wendys Co.	$605,447,000	–	39,035,921	–	4.56%	–

Q4 2016

			Value		Shares		↓ Weighting
WEN	Exit	Wendys Co.	$0	–	-40,792,537	–	-4.30%	–
	Exit	Pentair PLC	$0	–	-14,337,040	–	-9.00%	–
DD	Exit	Du Pont E I De Nemours & Co.	$0	–	-17,450,891	–	-11.42%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-32,372,626	–	-12.61%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-48,031,904	–	-20.60%	–
GE	Exit	General Electric Co.	$0	–	-72,624,115	–	-21.02%	–
SYY	Exit	Sysco Corp.	$0	–	-43,966,457	–	-21.05%	–

Q3 2016

			Value		Shares		↓ Weighting
SYY	Buy	Sysco Corp.	$2,154,796,000	-3.4%	43,966,457	+0.0%	21.05%	-0.9%
GE	Sell	General Electric Co.	$2,151,126,000	-8.6%	72,624,115	-2.9%	21.02%	-6.3%
BK	Buy	Bank New York Mellon Corp.	$1,291,020,000	+3.1%	32,372,626	+0.5%	12.61%	+5.8%
DD	Sell	Du Pont E I De Nemours & Co.	$1,168,686,000	-6.3%	17,450,891	-9.3%	11.42%	-3.9%

Q2 2016

			Value		Shares		↓ Weighting
GE	New	General Electric Co.	$2,353,652,000	–	74,766,576	–	22.42%	–
SYY	New	Sysco Corp.	$2,230,819,000	–	43,965,695	–	21.25%	–
MDLZ	New	Mondelez Intl Inc.cl a	$2,185,932,000	–	48,031,904	–	20.82%	–
BK	New	Bank New York Mellon Corp.	$1,251,770,000	–	32,220,599	–	11.92%	–
DD	New	Du Pont E I De Nemours & Co.	$1,246,712,000	–	19,239,379	–	11.88%	–
	New	Pentair PLC	$835,706,000	–	14,337,040	–	7.96%	–
WEN	New	Wendys Co.	$392,424,000	–	40,792,537	–	3.74%	–

Q4 2015

			Value		Shares		↓ Weighting
TIF	Exit	Tiffany & Co. NEW	$0	–	-14,260	–	-0.01%	–
CC	Exit	Chemours Co.	$0	–	-4,879,376	–	-0.27%	–
IR	Exit	Ingersoll-Rand PLC	$0	–	-2,835,302	–	-1.23%	–
WEN	Exit	Wendys Co.	$0	–	-40,792,537	–	-3.01%	–
LM	Exit	Legg Mason Inc.	$0	–	-11,039,896	–	-3.92%	–
	Exit	Pentair PLC	$0	–	-13,005,377	–	-5.67%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-30,228,703	–	-10.10%	–
DD	Exit	Du Pont E I De Nemours & Co.	$0	–	-25,801,884	–	-10.62%	–
SYY	Exit	Sysco Corp.	$0	–	-41,412,900	–	-13.78%	–
PEP	Exit	PepsiCo Inc.	$0	–	-18,316,211	–	-14.74%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-48,028,087	–	-17.16%	–
GE	Exit	General Electric Co.	$0	–	-90,565,555	–	-19.50%	–

Q3 2015

			Value		Shares		↓ Weighting
GE	Buy	General Electric Co.	$2,284,063,000	+73.2%	90,565,555	+82.5%	19.50%	+53.1%
MDLZ	Buy	Mondelez Intl Inc.cl a	$2,010,936,000	+1.8%	48,028,087	+0.0%	17.16%	-10.1%
SYY	Buy	Sysco Corp.	$1,613,861,000	+337.5%	41,412,900	+305.3%	13.78%	+286.5%
DD	Buy	Du Pont E I De Nemours & Co.	$1,243,651,000	-20.8%	25,801,884	+5.0%	10.62%	-30.1%
BK	Buy	Bank New York Mellon Corp.	$1,183,454,000	-6.7%	30,228,703	+0.0%	10.10%	-17.6%
	Buy	Pentair PLC	$663,794,000	+42.2%	13,005,377	+91.6%	5.67%	+25.7%
WEN	Sell	Wendys Co.	$352,855,000	-42.1%	40,792,537	-24.5%	3.01%	-48.8%
IR	Sell	Ingersoll-Rand PLC	$143,948,000	-70.7%	2,835,302	-61.1%	1.23%	-74.1%
CC	New	Chemours Co.	$31,570,000	–	4,879,376	–	0.27%	–
FDO	Exit	Family Dlr Stores Inc.	$0	–	-3,679	–	-0.00%	–

Q2 2015

			Value		Shares		↓ Weighting
MDLZ	New	Mondelez Intl Inc.cl a	$1,975,874,000	–	48,028,053	–	19.09%	–
PEP	New	PepsiCo Inc.	$1,709,635,000	–	18,316,211	–	16.52%	–
DD	New	Du Pont E I De Nemours & Co.	$1,570,809,000	–	24,563,084	–	15.18%	–
GE	New	General Electric Co.	$1,318,467,000	–	49,622,390	–	12.74%	–
BK	New	Bank New York Mellon Corp.	$1,268,570,000	–	30,225,639	–	12.26%	–
WEN	New	Wendys Co.	$609,397,000	–	54,024,581	–	5.89%	–
LM	New	Legg Mason Inc.	$568,886,000	–	11,039,896	–	5.50%	–
IR	New	Ingersoll-Rand PLC	$491,433,000	–	7,289,130	–	4.75%	–
	New	Pentair PLC	$466,729,000	–	6,788,791	–	4.51%	–
SYY	New	Sysco Corp.	$368,885,000	–	10,218,418	–	3.56%	–
TIF	New	Tiffany & Co. NEW	$1,309,000	–	14,260	–	0.01%	–
FDO	New	Family Dlr Stores Inc.	$290,000	–	3,679	–	0.00%	–

Q4 2014

			Value		Shares		↓ Weighting
TIF	Exit	Tiffany & Co. NEW	$0	–	-13,412	–	-0.02%	–
ALLE	Exit	Allegion Pub Ltd Co	$0	–	-1,655,388	–	-1.04%	–
LAZ	Exit	Lazard Ltd	$0	–	-4,973,851	–	-3.32%	–
DD	Exit	Du Pont E I De Nemours & Co.	$0	–	-6,959,877	–	-6.56%	–
WEN	Exit	Wendys Co.	$0	–	-64,800,245	–	-7.04%	–
FDO	Exit	Family Dlr Stores Inc.	$0	–	-8,366,386	–	-8.49%	–
LM	Exit	Legg Mason Inc.	$0	–	-12,887,964	–	-8.67%	–
IR	Exit	Ingersoll-Rand PLC	$0	–	-12,821,051	–	-9.50%	–
BK	Exit	Bank New York Mellon Corp.	$0	–	-28,897,639	–	-14.71%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-41,741,854	–	-18.80%	–
PEP	Exit	PepsiCo Inc.	$0	–	-17,865,831	–	-21.86%	–

Q3 2014

			Value		Shares		↓ Weighting
PEP	Buy	PepsiCo Inc.	$1,663,130,000	+43.9%	17,865,831	+38.1%	21.86%	+28.5%
BK	Buy	Bank New York Mellon Corp.	$1,119,206,000	+56.3%	28,897,639	+51.2%	14.71%	+39.6%
IR	Buy	Ingersoll-Rand PLC	$722,594,000	-3.5%	12,821,051	+7.0%	9.50%	-13.8%
LM	Buy	Legg Mason Inc.	$659,348,000	-0.3%	12,887,964	+0.0%	8.67%	-10.9%
DD	Buy	Du Pont E I De Nemours & Co.	$499,441,000	+24.3%	6,959,877	+13.3%	6.56%	+11.0%
LAZ	Sell	Lazard Ltd	$252,174,000	-26.0%	4,973,851	-24.7%	3.32%	-33.9%

Q2 2014

			Value		Shares		↓ Weighting
MDLZ	New	Mondelez Intl Inc.cl a	$1,569,911,000	–	41,741,854	–	23.10%	–
PEP	New	PepsiCo Inc.	$1,155,939,000	–	12,938,653	–	17.01%	–
IR	New	Ingersoll-Rand PLC	$748,802,000	–	11,978,914	–	11.02%	–
BK	New	Bank New York Mellon Corp.	$716,274,000	–	19,110,843	–	10.54%	–
LM	New	Legg Mason Inc.	$661,206,000	–	12,886,493	–	9.73%	–
FDO	New	Family Dlr Stores Inc.	$553,353,000	–	8,366,386	–	8.14%	–
WEN	New	Wendys Co.	$552,746,000	–	64,800,245	–	8.13%	–
DD	New	Du Pont E I De Nemours & Co.	$401,891,000	–	6,141,364	–	5.91%	–
LAZ	New	Lazard Ltd	$340,633,000	–	6,606,540	–	5.01%	–
ALLE	New	Allegion Pub Ltd Co	$93,827,000	–	1,655,388	–	1.38%	–
TIF	New	Tiffany & Co. NEW	$1,345,000	–	13,412	–	0.02%	–

Q4 2013

			Value		Shares		↓ Weighting
TIF	Exit	Tiffany & Co. NEW	$0	–	-10,651	–	-0.02%	–
GNCIQ	Exit	GNC Hldgs Inc.	$0	–	-776,898	–	-0.78%	–
LAZ	Exit	Lazard Ltd	$0	–	-6,702,380	–	-4.42%	–
DD	Exit	Du Pont E I De Nemours & Co.	$0	–	-5,778,403	–	-6.20%	–
LM	Exit	Legg Mason Inc.	$0	–	-12,886,493	–	-7.89%	–
FDO	Exit	Family Dlr Stores Inc.	$0	–	-8,364,997	–	-11.03%	–
WEN	Exit	Wendys Co.	$0	–	-83,000,245	–	-12.89%	–
IR	Exit	Ingersoll-Rand PLC	$0	–	-12,903,994	–	-15.35%	–
PEP	Exit	PepsiCo Inc.	$0	–	-12,270,046	–	-17.86%	–
MDLZ	Exit	Mondelez Intl Inc.cl a	$0	–	-40,946,850	–	-23.56%	–

Q3 2013

			Value		Shares		↓ Weighting
IR	Sell	Ingersoll-Rand PLC	$837,985,000	+12.0%	12,903,994	-4.2%	15.35%	+4.2%
LM	Buy	Legg Mason Inc.	$430,924,000	+7.9%	12,886,493	+0.0%	7.89%	+0.3%
BID	Exit	Sothebys	$0	–	-2,074,182	–	-1.55%	–
STT	Exit	State Str Corp.	$0	–	-1,862,816	–	-2.39%	–

Q2 2013

			Value		Shares		↓ Weighting
MDLZ	New	Mondelez Intl Inc.cl a	$1,168,214,000	–	40,946,850	–	23.00%	–
PEP	New	PepsiCo Inc.	$1,003,567,000	–	12,270,046	–	19.76%	–
IR	New	Ingersoll-Rand PLC	$747,891,000	–	13,470,668	–	14.73%	–
FDO	New	Family Dlr Stores Inc.	$521,223,000	–	8,364,997	–	10.26%	–
WEN	New	Wendys Co.	$483,891,000	–	83,000,245	–	9.53%	–
LM	New	Legg Mason Inc.	$399,543,000	–	12,884,337	–	7.87%	–
DD	New	Du Pont E I De Nemours & Co.	$303,366,000	–	5,778,403	–	5.97%	–
LAZ	New	Lazard Ltd	$215,482,000	–	6,702,380	–	4.24%	–
STT	New	State Str Corp.	$121,474,000	–	1,862,816	–	2.39%	–
BID	New	Sothebys	$78,632,000	–	2,074,182	–	1.55%	–
GNCIQ	New	GNC Hldgs Inc.	$34,347,000	–	776,898	–	0.68%	–
TIF	New	Tiffany & Co. NEW	$776,000	–	10,651	–	0.02%	–

Compare quarters

Export TRIAN FUND MANAGEMENT, L.P.'s holdings