Trian Fund Management’s PepsiCo PEP Stock Holding History

Trian Fund Management’s Portfolio PEP Stock Details PEP Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2016 Q1	–	Sell	-18,316,211	Closed	-$1.83B	–	10
2015 Q4	$1.83B	Hold	18,316,211	–	–	14.84%	3
2015 Q3	$1.73B	Hold	18,316,211	–	–	14.74%	3
2015 Q2	$1.71B	Hold	18,316,211	–	–	16.52%	2
2015 Q1	$1.75B	Buy	18,316,211 +450,380	+3%	+$43.6M	20.46%	2
2014 Q4	$1.69B	Hold	17,865,831	–	–	17.91%	2
2014 Q3	$1.66B	Buy	17,865,831 +4,927,178	+38%	+$450M	21.86%	1
2014 Q2	$1.16B	Buy	12,938,653 +517,107	+4%	+$44.7M	17.01%	2
2014 Q1	$1.04B	Buy	12,421,546 +73,000	+0.6%	+$5.93M	17.01%	2
2013 Q4	$1.02B	Buy	12,348,546 +78,500	+0.6%	+$6.52M	17.27%	2
2013 Q3	$975M	Hold	12,270,046	–	–	17.86%	2
2013 Q2	$1B	Buy	+12,270,046	New	+$1B	19.76%	2

Other funds holding PEP

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

Bank of America Charlotte, North Carolina $1.37T AUM 24.88% 1-Year Est. Return

Wellington Management Group Boston, Massachusetts $535B AUM 26.23% 1-Year Est. Return

Bank of New York Mellon New York $544B AUM 28.31% 1-Year Est. Return

Franklin Resources San Mateo, California $408B AUM 30.18% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

Northern Trust Chicago, Illinois $757B AUM 28.64% 1-Year Est. Return

JP Morgan Chase New York $1.56T AUM 27.86% 1-Year Est. Return

Trian Fund Management's PEP Position: Q1 2016 in Review

Trian Fund Management sold out of PepsiCo (PEP) in Q1 2016, closing a stake of 18,316,211 shares — an estimated $1.83B sold.

Trian Fund Management first reported a position in PEP in Q2 2013 and held it in 11 quarters. The position peaked at $1.83B in Q4 2015. 1,885 funds tracked by Wall St. Rank hold PEP as of Q1 2016.

Trian Fund Management reported no remaining PepsiCo position as of Q1 2016 after selling out during the quarter.
Trian Fund Management sold 18,316,211 PepsiCo shares in Q1 2016, an estimated $1.83B.
Trian Fund Management first reported a position in PepsiCo in Q2 2013 and held it in 11 quarters.
Trian Fund Management's PepsiCo position peaked at $1.83B in Q4 2015.
1,885 funds tracked by Wall St. Rank held PepsiCo as of Q1 2016.

Based on Trian Fund Management's 13F filing for Q1 2016, filed 13 May 2016.