Nelson Peltz’s Trian exits Kraft

By Dow Jones Newswires
Posted Aug. 13, 2010 at 10:33 p.m.

Nelson Peltz’s Trian Partners on Friday reported no stake in Kraft Foods Inc. on June 30, according to regulatory filings.

Peltz previously held nearly 4.5 million shares in the food company, a significant portion of his portfolio. The famously aggressive shareholder has generally been selling his one-time massive position in Kraft–once worth more than $1 billion–since early last year, according to disclosures.

Peltz’s Trian notably held more than one million put options on the SPDR S&P 500 exchange-traded fund, which tracks the Standard & Poor’s 500-stock index. The disclosures don’t indicate if those bets are bullish or bearish.

Trian added a modest new stake in trust bank State Street Corp..

Peltz also added new small positions in two broadcast companies, LIN TV Corp. and Sinclair Broadcast Group Inc., according to the filings. He also added a position in cigarette-papers maker Schweitzer-Mauduit International Inc.

Many investors that manage more than $100 million are required to file 13-Fs with their stock holdings 45 days after the end of a given quarter, giving the public its freshest possible glimpse into the portfolios of well-known money managers.

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