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Billionaire Nelson Peltz slashed his largest single holding in the first quarter, with hedge funds he controls selling 21.2 million shares of Kraft Foods Inc. (KFT).
After the sales, Peltz held 13.4 million shares of the food conglomerate at March 31, a stake valued at about $332 million.
Four times a year, major money managers are required to disclose their holdings of most types of securities, and Friday was the deadline for the first quarter. The filings of prominent managers such as Peltz are eagerly scrutinized by investors.
Peltz eliminated a 1.58 million share stake in Krispy Kreme Doughnuts Inc. (KKD) as well as 2.3 million shares of CKE Restaurants Inc. (CKE), the parent company of the Chucky Cheese chain of restaurants.
Peltz's $324 million stake in Wendy's/Arby's Group Inc. (WEN), where he is chief executive, remained unchanged.
-By David J. Reynolds, Dow Jones Newswires; 202-862-1342; david.reynolds@dowjones.com
(END) Dow Jones Newswires
05-15-09 1724ET
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