By Liz Moyer
Activist investor Nelson Peltz's Trian Fund Management L.P.
reported no stake in Dominos Pizza Inc. (DPZ) and reduced positions
in Kraft Foods Inc. (KFT) and Tiffany & Co. (TIF) for the
second quarter, while the fund took on big new stakes in
Ingersoll-Rank PLC (IR) and Lazard Ltd. (LAZ).
The shifts in Trian's $3.1 billion portfolio were detailed in a
quarterly report of holdings filed with the Securities and Exchange
Commission on Tuesday. The firm reported holdings of $3.77 billion
for the first quarter.
Trian didn't publicly report all holdings as of the end of June.
Confidential information was filed separately with the SEC, the
firm said in Tuesday's filing, as it did at the end of the first
quarter.
In June, Trian revealed it had taken on a 5.6-million-share
stake in investment bank Lazard. In a presentation, Trian said it
supported Lazard management's efforts to cut costs and wring more
profitability out of the firm, and Trian also pushed for governance
changes to Lazard's board.
Trian also increased its holdings of Ingersoll-Rand by 7.5
million shares in the second quarter, according to Tuesday's
filing. In the first quarter, the firm reported it held 5.9 million
shares. On Monday, Ingersoll-Rand said Mr. Peltz would join its
board of directors as he pushes to improve profitability at that
company.
The firm reported holding 1.4 million fewer shares of Tiffany,
at 1.3 million shares, and 2 million shares fewer of Kraft, at 10.5
million. Trian also reported no holdings of United States Oil Fund
LP and the SPDR S&P 500 ETF as of the end of the second
quarter. At the end of the first quarter, the fund held 1.2 million
units and 5.1 million units, respectively.
Write to Liz Moyer at liz.moyer@dowjones.com
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