Letters and positions
23 letters by 10 managers whose 13F filings are tracked, naming 21 listed companies. Beside each company, the manager’s reported position in the quarter ending on or before the letter and in the quarter after it.
Shown because the letter names the company. A letter is commentary; it is not a record of why a position changed.
Trian Fund Management LP
- Trian's March 2024 letter to Disney shareholders18 Mar 2024 · Activist letter
DIS The Walt Disney Company · Subject of the letter
- Before the letter
- 31 Dec 2023 (Q4 2023 13F): 32,337,856 shares, reported at $2.9bn.
- After the letter
- 31 Mar 2024 (Q1 2024 13F): 32,337,856 shares, reported at $4.0bn.
The same number of shares in both filings: 32,337,856.
- Trian's July 2017 letter to Procter & Gamble shareholders31 Jul 2017 · Activist letter
PG The Procter & Gamble Company · Subject of the letter
- Before the letter
- 30 Jun 2017 (Q2 2017 13F): 37,612,012 shares, reported at $3.3bn.
- After the letter
- 30 Sep 2017 (Q3 2017 13F): 37,908,621 shares, reported at $3.4bn.
296,609 more shares listed at 30 Sep 2017 than at 30 Jun 2017.
How to read this
A letter appears here only when its record names the company. The before figure is the manager’s 13F at the last quarter end on or before the letter’s date; the after figure is the next quarter end. A 13F shows the long US-listed equity book at a quarter end, filed up to 45 days later, and large books are listed to their largest positions. A company that is not among a manager’s listed positions may still be held below that range, through another security, or not at all: the filing cannot say which.