SEC 13F Intelligence

Managers / Q2 2020 · view latest →

TRIAN FUND MANAGEMENT, L.P.

CIK 0001345471 · 280 PARK AVENUE, 41ST FLOOR, NEW YORK, NY, 10017 · 212-451-3000

Reported Value
$4.8B
Q2 2020
Positions
7
Filings on Record
35
2019–present window
Filed
Aug 14, 2020
original filing

Summary

Trian Fund Management, L.P. reported $4.8B in U.S.-listed holdings across 7 positions for Q2 2020.

The portfolio is heavily concentrated: SYY alone accounts for 27.6% of reported value.

Compared with Q1 2020, the fund opened 0 new positions and exited 1.

Portfolio Metrics

Turnover
+7.8%
vs prior filed quarter
Largest Position
+27.6%
Sysco

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $9.2BQ4 ’18Q1 ’19: $9.3BQ2 ’19: $9.5BQ3 ’19: $9.6BQ4 ’19: $9.5BQ4 ’19Q1 ’20: $6.9BQ2 ’20: $4.8BQ3 ’20: $6.1BQ4 ’20: $6.8BQ4 ’20Q1 ’21: $8.5BQ2 ’21: $8.6BQ3 ’21: $8.0BQ4 ’21: $7.5BQ4 ’21Q1 ’22: $6.0BQ2 ’22: $4.5BQ3 ’22: $3.8BQ4 ’22: $4.9BQ4 ’22Q1 ’23: $3.8BQ2 ’23: $3.9BQ3 ’23: $6.6BQ4 ’23: $7.0BQ4 ’23Q1 ’24: $8.0BQ2 ’24: $4.1BQ3 ’24: $3.9BQ4 ’24: $3.9BQ4 ’24Q1 ’25: $3.7BQ2 ’25: $3.8BQ3 ’25: $4.1BQ4 ’25: $4.0BQ4 ’25Q1 ’26: $3.9Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 86.8%Other: 13.2%
  • Common Stock · 86.8% · $4.2B
  • Other · 13.2% · $637M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LMEURLegg Mason Inc.SOLD OUT−3.88M0−$190M$0
PGProcter and Gamble Co.TRIMMED−20.21M10.83M−$2.1B$1.3B
BNYBank New York Mellon Corp.TRIMMED−5.32M4.38M−$157M$169M
nVent Electric PlcTRIMMED−1.16M12.39M+$3M$232M
General Electric Co.TRIMMED−4.90M59.33M−$105M$405M
SYYSysco Corp.HELD+703.7K24.38M+$252M$1.3B
MDLZMondelez Intl Inc.HELD+3.6K15.85M+$17M$810M
WENWendys Co.HELD+026.63M+$184M$580M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2020

7 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SYYSysco Corp.history →COM27.62%$1.3B24.38M
2PGProcter and Gamble Co.history →COM26.83%$1.3B10.83M
3MDLZMondelez Intl Inc.history →CL A16.80%$810M15.85M
4WENWendys Co.history →COM12.02%$580M26.63M
5General Electric Co.COM8.40%$405M59.33M
6nVent Electric PlcSHS4.81%$232M12.39M
7BNYBank New York Mellon Corp.history →COM3.51%$169M4.38M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$3.9B9May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$4.0B8Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$4.1B8Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$3.8B11Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$3.7B11May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$3.9B11Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$3.9B11Nov 13, 202413F-HRchanges · EDGAR ↗
Q2 2024$4.1B14Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$8.0B12May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$7.0B12Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$6.6B12Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$3.9B8Aug 15, 2023RESTATEMENTchanges · EDGAR ↗
Q1 2023$3.8B8May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$4.9B9Feb 15, 2023RESTATEMENTchanges · EDGAR ↗
Q3 2022$3.8B9Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$4.5B9Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$6.0B9May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$7.5B10Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$8.0B10Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$8.6B10Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$8.5B10May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$6.8B8Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$6.1B9Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$4.8B7Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$6.9B8May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$9.5B8Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$9.6B8Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$9.5B9Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$9.3B8May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$9.2B9Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 4 additional managers.

  • PELTZ NELSON028-11639
  • MAY PETER W028-11640
  • GARDEN EDWARD P028-11641
  • Trian Fund Management GP, LLC028-12040

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.