PepsiCo Inc. (PEP), Mondelez International Inc (MDLZ), GNC Holdings Inc (GNC): Nelson Peltz’s Latest Moves

As we continue to analyze major hedge funds’ 13F filings, we came across an interesting portfolio: that of Trian Fund Management. The hedge fund managed by Nelson Peltz disclosed 11 equity positions, with a market value of approximately $6.79 billion. The second quarter didn’t witness any new stock purchases, but it did see Mr. Pelz increase his stakes in four of the fund’s preexisting positions, and sell out of one holding. In this article we will take a look at some of Trian’s most interesting moves for the second quarter, in order to elucidate if any of them deserve further research.

For the sixth consecutive quarter, the fund’s top 3 positions remained unchanged in rank. The largest bet continues to be placed on Mondelez International Inc (NASDAQ:MDLZ), a $60.8 billion market cap manufacturer of confectionery products. After acquiring 3,861 shares over the second quarter, the fund owns 41.74 million shares of Mondelez International Inc (NASDAQ:MDLZ), worth more than $1.56 billion, which account for roughly 23% of its equity portfolio.

TRIAN PARTNERS

This position makes of Trian the largest hedge fund shareholder at Mondelez International Inc (NASDAQ:MDLZ), trailed by Mason Hawkins’ Southeastern Asset Management, which disclosed ownership of 31.66 million shares, worth $1.19 billion.

PepsiCo, Inc. (NYSE:PEP) also saw Mr. Pelz’s fund boost his exposure between April 1 and June 30. The fund now owns 12.93 million shares of the $139 billion market cap food, snack and beverage company, with a market value of more than $1.15 billion.

PepsiCo, Inc. (NYSE:PEP) recently raised its 2014 EPS guidance, and now projects an 8% increase in EPS – up from the previously expected 7%. For the second quarter, the company posted organic revenue growth of 3.6%, and core currency-adjusted EPS growth of 9%. In addition, the company has also declared a quarterly dividend of $0.655 per share of Common Stock.

Another major hedge fund betting on PepsiCo, Inc. (NYSE:PEP) is Donald Yacktman’s Yacktman Asset Management, which declared ownership of 31.51 million shares of the company, worth roughly $2.8 billion.

On the opposite sidewalk, Trian’s third largest equity position, Ingersoll-Rand PLC (NYSE:IR), was slightly trimmed over the quarter. Following the sale of 1,144 shares, the fund owns 11.97 million shares of common stock, worth roughly $748 million.

Once again, Trian stands as the largest hedge fund shareholder of record at the company, trailed by Ralph V. Whitworth’s Relational Investors, which owns 7.4 million shares of Ingersoll-Rand PLC (NYSE:IR), and Daniel S. Och’s Oz Management, which holds 7.32 million shares. All three funds diminished their stakes in the company over the quarter.

There was, however, one company that felt Peltz’s bearishness: GNC Holdings Inc (NYSE:GNC). This $3.3 billion market cap specialty retailer of health and wellness products saw Trian Fund Management close out its 359,254 shares position over the second quarter.

GNC Holdings Inc (NYSE:GNC) witnessed the departure of several other major hedge funds over the quarter. Amongst them we should highlight John Croghan and Richard Fradin’s Rail-Splitter Capital Management, which held 207,400 shares by the end of the first quarter.

Disclosure: Javier Hasse holds no position in any stocks or funds mentioned.

Dividend Stock Alert - Billionaire Robbins' Top Dividend Idea With 70% Upside Potential

Get Paid 3.5% Per Year While Waiting For The Stock Appreciate 70%

Larry Robbins' Glenview Capital Opportunity Fund returned 101.7% in 2013 and Robbins personally made $750 million. The same fund returned 25.3% in 2014. In this FREE REPORT we will share Robbins' top dividend idea that yields 3.5% and has been increasing its dividends for 39 consecutive years. Robbins thinks the stock has the potential to appreciate 70%.

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!