Nelson Peltz and Trian Partners’ Top Stock Picks

Nelson Peltz, the manager of activist hedge fund Trian Fund Management announced November 14 that it purchased 2.36 million shares of PepsiCo (PEP), in a position worth roughly $146 million. PEP recently traded at $64.50 a share, down from a 52-week high of $71.89. Analysts estimate the stock will reach $71.08 in the next year.

…Nelson Peltz is also pushing for changes in State Street Corp (STT). He has admonished the board there “over poor performance and urged it to adopt a multi-step plan for raising the custody bank’s profit” (read about it here). Peltz outlined recommendations in a statement he made in mid-October, including, “a call for a clearer commitment to cost-cutting, prioritizing the return of capital to shareholders over acquisitions, and considering selling off the bank’s asset management unit.” Nelson Peltz’s Trian Fund Management owns roughly 3.3% of the company.

The largest positions in Nelson Peltz’s portfolio are Kraft (KFT), Legg Mason (LM), Wendys (WEN), Family Dollar Stores (FDO), Tiffany & Co (TIF), State Street (STT), and Dominos Pizza (DPZ).

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