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.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

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 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!