According to current portfolio statistics, the top four holdings of Nelson Peltz (Trades, Portfolio)'s Trian Fund Management as of the fourth quarter of 2020 are in Sysco Corp. SYY, Proctor & Gamble Co. PG, Comcast Corp. CMCSA and Mondelez International Inc. MDLZ.
Peltz, board chairman of The Wendy's Co. WEN, co-founded the New York-based investment management firm in 2005 with his business partners Peter May and Edward Green. The firm seeks long-term capital appreciation by investing in public equity and alternative investment markets through fundamental analysis and identification of undervalued securities.
As of December 2020, the firm's $6.76 billion equity portfolio contains eight holdings with a turnover ratio of 3%. The top three sectors in terms of weight are consumer staples, financial services and communication services, representing 53.46%, 17.35% and 15.40% of the equity portfolio.
Sysco
Trian disclosed that it owned 20,603,608 shares of Sysco SYY, down 15.49% from the third-quarter holding of 24,379,843 shares. Shares averaged $68.86 during the fourth quarter.
GuruFocus ranks the Houston-based food service distributor's financial strength 5 out of 10: Although the company has a strong Altman Z-score of 4.14, interest coverage and debt ratios are underperforming over 93% of global competitors.
Yacktman Asset Management (Trades, Portfolio) also has a holding in Sysco.
Proctor & Gamble
According to GuruFocus Real-Time Picks, a Premium feature, Trian reported a holding of 8,884,877 shares of Proctor & Gamble PG as of Feb. 17. Shares traded around $128.58.
GuruFocus ranks the Cincinnati-based consumer product manufacturer's profitability 7 out of 10 on several positive investing signs, which include a high Piotroski F-score of 8 and an operating margin that is near a 10-year high of 23.79% and outperforms over 94.49% of global competitors.
Comcast
Trian disclosed a holding of 19,857,892 shares of Comcast CMCSA, up 27.06% from the third-quarter holding of 15,628,146. Shares averaged $47.94 during the fourth quarter; the new shares expanded the equity portfolio 3.28%.
GuruFocus ranks the Philadelphia-based communication service company's profitability 8 out of 10 on several positive investing signs, which include a 4.5-star business predictability rank and profit margins that outperform over 81% of global competitors.
Mondelez
Trian disclosed on Feb. 18 a holding of 9,383,698 shares of Mondelez MDLZ according to GuruFocus Real-Time Picks. Shares traded around $55.63.
GuruFocus ranks the Deerfield, Illinois-based snack manufacturer's profitability 7 out of 10 on the back of profit margins outperforming over 80% of global competitors despite three-year revenue and earnings growth rates outperforming just over half of global consumer packaged food companies.
Disclosure: Long Proctor & Gamble.
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