13F-HR 1 tfmlpmarch.txt TRIAN FUND MANAGEMENT, L.P., SEPTEMBER 30, 2011 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington,D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2011 ------------------------ Check here if Amendment [ ]; Amendment Number: ------- This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Trian Fund Management, L.P. -------------------------------------------------- Address: 280 Park Avenue, 41st Floor -------------------------------------------------- New York, NY 10017 -------------------------------------------------- -------------------------------------------------- Form 13F File Number: 028-12039 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Peter W. May -------------------------------------------------- Title: Member of its General Partner -------------------------------------------------- Phone: 212-451-3000 -------------------------------------------------- Signature, Place, and Date of Signing: /s/PETER W. MAY New York, New York 11/14/11 ------------------------ ------------------------------ -------- [Signature] [City, State] [Date] Commencing with the Form 13F filed for the quarter ended March 31, 2011, certain of the "Other Included Managers" listed below are named on this Form but no longer hold investment discretion over any shares listed in the Information Table. This is due to the requirement that a manager continue to file Form 13F for the first three calendar quarters of the year following the year in which it held investment discretion over the requisite amount of "Section 13(f) securities." Report Type (Check only one.): [ X ] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 12 ------------- Form 13F Information Table Entry Total: 17 ------------- Form 13F Information Table Value Total: $2,726,698 ------------- (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name --- -------------------- ------ 01 28-11639 Nelson Peltz 02 28-11640 Peter W. May 03 28-11641 Edward P. Garden 04 28-12038 Trian Partners Parallel Fund I General Partner, LLC 05 28-14024 Trian Partners Strategic Investment Fund General Partner, LLC 06 28-14023 Trian Partners Strategic Investment Fund GP, L.P. 07 28-11992 Trian Partners General Partner, LLC 08 28-11993 Trian Partners GP, L.P. 09 28-12040 Trian Fund Management GP, LLC 10 28-13614 Trian Credit Partners General Partner, LLC 11 28-13613 Trian Credit Partners GP, L.P. 12 28-12527 Public Sector Pension Investment Board FORM 13F INFORMATION TABLE
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 -------- -------- -------- -------- -------- -------- -------- -------- VALUE SHARES/OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY ---------------- NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- -------------- ----- -------- ------- --- ---- ---------- -------- ---- ------ ---- Wendys Co. COM 95058W100 351,700 76,623,145 SH Defined 1,2,3,9 76,623,145 Heinz HJ Co. COM 423074103 53,791 1,065,584 SH Defined 1,2,3,9 1,065,584 Tiffany & Co. NEW COM 886547108 272,595 4,481,994 SH Defined 1,2,3,9 4,481,994 Family Dlr Stores Inc. COM 307000109 367,651 7,228,695 SH Defined 1,2,3,9 7,228,695 Kraft Foods Inc. CL A 50075N104 581,308 17,311,152 SH Defined 1,2,3,9 17,311,152 Legg Mason Inc. COM 524901105 377,995 14,702,269 SH Defined 1,2,3,9 14,702,269 State Str Corp. COM 857477103 199,658 6,208,266 SH Defined 1,2,3,9 6,208,266 State Str Corp. COM 857477103 113,194 3,519,700 SH Other 1,2,3,9,12 3,519,700 Pepsico Inc. COM 713448108 145,780 2,355,093 SH Defined 1,2,3,9 2,355,093 Dominos Pizza Inc. COM 25754A201 161,351 5,921,150 SH Defined 1,2,3,9 5,921,150 Belo Corp. COM SER A 080555105 978 200,000 SH Defined 1,2,3,9 200,000 CBS Corp. NEW CL B 124857202 1,936 95,000 SH Defined 1,2,3,9 95,000 Istar Finl Inc. COM 45031U101 2,066 354,900 SH Defined 1,2,3,9 354,900 SPDR S&P 500 ETF TR TR UNIT 78462F103 87,691 775,000 SH PUT Defined 1,2,3,9 775,000 Lin TV Corp. CL A 532774106 874 400,910 SH Defined 1,2,3,9 400,910 LyondellBasell Industries N SHS-A N53745100 3,909 160,000 SH Defined 1,2,3,9 160,000 Charter Communications Inc. D CL A NEW 16117M305 4,221 90,111 SH Defined 1,2,3,9 90,111