Nelson Peltz has earned quite a reputation as an activist investor, and the founding of Trian Fund Management L. P. is just a picture of his savvy. Trian is an activist hedge fund with billions in assets.
Trian filed their quarterly report on Tuesday, with the SEC, and the report confirmed holdings of $3.77 billion for the first quarter, in terms of stated assets. The firm did confirm that all holdings were not filed as of the end of June, as some confidential information was filed with the SEC in a separate form or does not need to be disclosed at all.
Trian did reveal a major holding in Lazard Ltd (NYSE:LAZ), an investment bank. Peltz’s firm pushed for cost cutting measures, as well as some changes in the board at Lazard Ltd (NYSE:LAZ). Peltz has laid out a detailed thesis onwhy he is so bullish on the investment bank.
Ingersoll-Rand PLC (NYSE:IR) was another major increase for Trian, as they boosted shares by 7.5 million during the second quarter. Ingersoll-Rand PLC (NYSE:IR) announced on Monday that Mr. Peltz would be their newest board member, and they hope to use his expertise to boost profits.
Kraft Foods Inc (NASDAQ:KFT) and Tiffany & Co. (NYSE:TIF) also ranked high on Trian’s report, but at the other end of the spectrum from Ingersoll Rand. The company reported having sold off 1.4 million shares in Tiffany & Co. (NYSE:TIF), and 2 million shares in Kraft Foods Inc (NASDAQ:KFT). They also sold out of positions with United States Oil Fund LP (NYSEARCA:USO) and the S&P 500, as of the end of the second quarter.
As Peltz joins the board of Ingersoll Rand, I look to see what changes he will make. As an investor and a heavy shareholder in the company, he is sure to desire strong performance from the company, and will do everything in his power to insure that he gets it.
