Activists Nelson Peltz And Paul Singer Disclose Their Latest Moves

Nelson Peltz has also decided to boost one of his investments, namely his holding in Wendys Co (NASDAQ:WEN). As reported in an amended filing with the SEC, Peltz and his fund, Trian Parters, now hold an aggregate of roughly 56.8 million shares or 20.7% of the company’s common stock. Trian has also disclosed that Ed Garden, who represented the fund on Wendy’s board of directors, has stepped down and has been replaced by Matthew Peltz, the son of Nelson Peltz and a partner at the fund. Wendy’s board of directors has also been increased in size and Trian got Dennis M. Kass to serve as a director on its behalf.

Nelson Peltz has been a long stading shareholder of Wendys Co (NASDAQ:WEN), having first bought shares back in October of 1992. Having taken a severe battering during the 2008 credit crunch, the stock has slowly resumed an upward trend, but has not been a very solid performer so far this year. Shares are currently trading at $10.75, up by 18% year to date. In the most recent financial report, the company posted revenues of $464.6 million, down by 6.5% year over year, and a profit of $7.6 million or $0.04 per share.

During the third quarter, billionaire Ken Griffin has been looking to cut his exposure to Wendy’s, dumping 38% of his stake and leaving Citadel Investment Group with 3.2 million shares reportedly worth $27 million. Israel Englander was on the other side of the barricade, buying shares left and right. According to its latest 13F filing, Millennium Management holds a little over 1 million Wendy’s shares, up by 80% over the quarter. In general, top hedge fund managers have been shying away from Wendys Co (NASDAQ:WEN) during the third quarter, as the number of hedge fund long positions decreased to 26 by the end of September, from 38 at the end of June.

Disclosure: none.